Foreclosure Definitions:

Chain in title – a historical account of a property’s ownership  

Deed In lieu – avoids foreclosure for those unable to pay their mortgage and transfers title from the homeowner to the lender 

Forbearance – delaying mortgage payments temporarily, during financial hardship

Foreclosure – legal process in which homeowner gives up all rights to the property 

Judicial Sale – for properties, behind in taxes, that did not sell at the upset sale 

Loan modification – changing the terms of a mortgage during a financial hardship to make it more manageable 

Sheriff sale – a public auction where buyers can bid on foreclosed properties 

Short Sale – a home sale in which a lender accepts less than what is owed 

Upset Sale – for properties which are behind in real estate taxes 

LOAN MODIFICATIONS:

Loan Modification – Pros and Cons

Loan Modification – 995Hope.org

Mortgage Forbearance – Pros and Cons

Forbearance Ending – Next Step

Hard Money Lender – Pros and Cons

Filing Bankruptcy to Avoid or DELAY Foreclosure

Refinance vs Loan Modification

LOAN MODIFICATIONS:

Loan Modification – Pros and Cons

Loan Modification – 995Hope.org

Mortgage Forbearance – Pros and Cons

Forbearance Ending – Next Step

Hard Money Lender – Pros and Cons

Filing Bankruptcy to Avoid or DELAY Foreclosure

Refinance vs Loan Modification

LOAN MODIFICATIONS:

Loan Modification – Pros and Cons

Loan Modification – 995Hope.org

Mortgage Forbearance – Pros and Cons

Forbearance Ending – Next Step

Hard Money Lender – Pros and Cons

Filing Bankruptcy to Avoid or DELAY Foreclosure

Refinance vs Loan Modification

LOAN MODIFICATIONS:

Loan Modification – Pros and Cons

Loan Modification – 995Hope.org

Mortgage Forbearance – Pros and Cons

Forbearance Ending – Next Step

Hard Money Lender – Pros and Cons

Filing Bankruptcy to Avoid or DELAY Foreclosure

Refinance vs Loan Modification