by maria | Sep 7, 2016 | Exclusive QA |
They can remain on your credit record for seven to 10 years; however, a borrower who has worked hard to reestablish good credit may be shown some leniency by the lender. The circumstances surrounding the bankruptcy may also influence a lender’s decision. For...
by maria | Sep 7, 2016 | Exclusive QA |
It can happen. But a lot will depend on your circumstances and the mortgage interest rate you are willing to pay. Generally, most lenders will consider your request for a home loan two to four years after your foreclosure. Predatory lenders will issue a home mortgage...
by maria | Sep 7, 2016 | Exclusive QA |
Becoming a more and more popular option for distressed homeowners, this process is called a ‘short sale’, which occurs when a lender agrees to write off the portion of a mortgage that is higher than the value of a home. But, usually, a buyer must be...
by maria | Sep 7, 2016 | Exclusive QA |
Talk with your lender immediately. The lender may be able to arrange a repayment plan or the temporary reduction or suspension of your payment, particularly if your income has dropped substantially or expenses have shot up beyond your control. You also may be able to...
by maria | Sep 7, 2016 | Exclusive QA |
Check with your state. It may provide special protection through the filing of a homestead exemption, which exempts some or all of the value of your equity in the homestead-the home that you live in and the land on which it sits-from claims of unsecured creditors....