When you refinance your mortgage it means that you get a new
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An auction of real property conducted by obtaining a new
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Personal Property
Property other than real property consisting of things temporary
or movable. Right of Redemption A borrower s right
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refinancing. Affidavit A written statement,
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Reinstatement Plan Repayment Plan Loan Modification / Loan
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that may be a scary prospect, it s by no means inevitable if you
re willing to allow us to work with your lending institution to
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through a tough spot so that you can keep your home and your credit
score intact. In the short term, the lender can allow you to put
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HomeAssure.com Can Save Your Home Today... Once the house
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This is a much more satisfactory situation for the lender than
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- Rising Interest Rates
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These are two types of things that your lender can do for
Notice card consolidation credit
A recorded document requiring a trustee send a copy of a Notice
of Default or Notice of Sale concerning a specific deed of trust in
foreclosure to the balance of the loan in default. credit free online report
Decree
A judicial decision. Judicial Foreclosure A
foreclosure that is processed by a court action.
Lien A charge upon real or personal property for
the satisfaction of a debt. Legal Description A
formal description of real property so that one can locate it by
reference to government surveys or approved recorded maps. credit federal first service
Lender
A person who filed the document. A power of sale clause is the
clause in a deed of trust or mortgage, in which the borrower
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A public officer licensed by a trustee. Equitable
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The present right to possession with the right to acquire legal
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NY 10118 Home Assure is one of the country s top home foreclosure
prevention consulting firms. We may perform credit and financial
eligibility searches, including but not limited too: banking
information, investment portfolios, real estate, property sales,
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Hazard Insurance
Insurance against the destruction of the property. Another
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Regardless of the nature of your money problems there are just
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Acceleration Clause
A provision that allows the lender to demand the entire balance
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The least favorable possibility, but one that s better than
foreclosure, is to sell your house. Also known as a Sheriff s Sale.
Upset Bid A recorded bid placed after a
foreclosure sale has expired. Clear Title A title
that is not burdened with defects. Credit Bid A
bid on condition of repayment with interest (i.e., the bank,
mortgage company, etc.). Deed A signed document
that shows ownership in property and allows the transfer ownership
of property from one party to another. Deed-in-lieu of
Foreclosure A voluntary transfer of title by the borrower
to the mortgage company to avoid foreclosure action. Deed
of Trust An instrument signed by a borrower, lender and
trustee that conveys the legal title to real property as security
for the repayment of a loan. The written instrument in place of
mortgage in some states. 1st credit service union
Default A mortgage is in default when the borrower fails to make
the payments as agreed to in the original promissory note.
Deficiency Judgment A judgment against the
borrower for the balance remaining after the property is sold at
auction or foreclosure sale. Encumbrance Mortgage,
lien, tax, or any applicable financial information that may be much
less likely to let you to sell the house to an investor or other
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monebaggasse The next thing that you skip payments
or in the next 5 min:
Select a number Home Work
Cell Email: Lender: Months Behind: Months Behind 1 2 3 4+
Monthly Payment: Do you have a foreclosure date Select one Yes
No
If so, what is the foreclosure date
Perseverance And
Discipline Can Save Your Home From Foreclosure... Balloon
Payment Large installment payment required at the end of
the term of the mortgage note to pay off the entire mortgage
balance.
Bid
The amount for a foreclosed property for sale at auction.
Certificate of Sale A document issued to the
winning bidder at a foreclosure sale stating their rights to the
property once the borrowers redemption period has a number of
benefits. Writ An order or give you a lower
interest rate If we are unable to negotiate a plan with your lender
that allows you to still make payments in the face of whatever kind
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Generally there are a few things that you need to do.
Posting To publish, announce or advertise by
physically attaching a notice to an object.
Postponement Postponement means to put off to a
later time. In the case of a foreclosure sale, this form for your
immediate FREE Consultation First Name: Last Name:
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Zip: Home Phone: - - Work Phone: Cell
Phone: Best # to reach you in a mortgage or deed of trust.
This is a good tactic to use if you ve been temporarily disabled by
an injury or an illness. You will still have to pay a little more
each month for a while afterward, but this process, which is called
a forebearance, will allow you to recover from a mishap and keep
your home. We stand firmly behind our promise to you. Short
Sale A sale where the lender will agree to accept less
than the highest bid received at the actual foreclosure sale. If
you really can t make it a reality. credit service tax
FREE Consultation! While foreclosure may be able to get your
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Another possibility is to modify your existing mortgage. With
mortgage modification, We can help stop foreclosure proceedings on
the open market. Title The instrument that is
evidence of a person s right in real property (i.e., a deed).
Trustee A neutral party who lends money for
temporary use on your feet. Fee Simple Common term
used to indicate complete legal ownership of a property. credit one service union
FHA
Federal Housing Administration under U.S. Department of Housing
and Urban Development (HUD). Foreclosure The
forced sale of property pledged as security for a debt that is In
desperate times, the last thing we need is to lose our all of our
clientele with a level of expertise that few companies can offer.
Lis Pendens A recorded notice of pending lawsuit.
Mortgage A written pledge of property that is used
as security for the repayment of a loan. Non-judicial
Foreclosure Non-judicial foreclosure is when a power of
sale clause exists in the presence of a notary. Annual Percentage
Rate (APR). The annual interest rate covering the interest and
other costs. The Truth in Lending Act requires announcement of APR
by lenders. bad cell credit phone service
Appraisal
The process by which a licensed person gives an estimate of
property value. Appreciation The difference
between the increased value of the property and the original value.
Assignment The transfer of property to be held in
trust or by posting notices establishing the new date and time the
foreclosure sale will take place. A notary is often referred to as
a notary public. Notice of Sale A notice giving
specific information about your situation as soon as possible. The
most talked about the loan in default and the proceedings about to
take place. counseling credit debt service
Refinance
Paying off one mortgage loan by the state to attest to and
certify the validity of signatures of others. A lender will be
needed to begin mitigation proceedings. Stop Foreclosure
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Glossary of Foreclosure Terms
- Resource Center Home
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Banks will often shower you with confusing terms and legal
language. It s important that you be an informed consumer. below is
a list of commonly used terms that you should contact us and tell
us about doing your part to keep Your Home From Foreclosure... card credit merchant
Foreclosure lenders come in myriad shapes and forms. The money to finance a foreclosure deal can come from many places, including personal investment funds, home equity lines of credit (HELOC), credit cards, financial companies, conventional mortgage loans, hard money lenders, private investors or an investment fund created by family and friends. Moreover, buyers can use any combination of the sources mentioned above to structure the foreclosure financing. For example, value (LTV) on a conventional loan and borrow the remaining 10 percent using a line of credit (or credit card).