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Some of the best alternatives to foreclosure are what’s called loss mitigation. Loss mitigation involves a loan modification, it involves a short sale, it involves a deed in lieu with a waiver of a deficiency, and it involves cash for keys. It really d …
A short sale is a form of loss mitigation. Generally a short sale is when the homeowner who is in default or is in foreclosure goes to sell the home and the amount owed on the mortgage is more than the fair market value of the property. So the lender …
A loan modification is generally, in it’s simplest form, the request to change the terms of my existing mortgage; whether you’re changing the length of the loan, whether you’re changing the interest rate at which your original loan was at, whether you’ …
Filing for bankruptcy protection is generally a last resort. However, many people are forced to do it. The bankruptcy protection immediately upon filing your bankruptcy petition provides for what is called the automatic stay and all of your creditors a …
The most common mistake a home buyer makes in the closing process is not actually hiring an attorney prior to signing the contract. There are standard contracts like the FAR-BAR contract that have very detailed provisions that dictate the relationship …
The difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy are fairly substantial. A Chapter 7 bankruptcy is a complete liquidation of your assets. As soon as you file the bankruptcy petition, your assets are the property of the U.S. Tru …
If your construction is behind schedule you may be able to get your money back. Generally we have to determine whose fault it is that the project fell behind schedule, and assuming it’s no fault of yours, the person or party that fell behind schedule, …
