August 18, 2010
So, you got the Notice of Default. How’d that feel? Are you comforted that last month over 100,000 others did too? I did not think so. The Notice of Default is the beginning of a long process of foreclosure that mortifies you and protects you at the same time. The only good news is that the process takes a long time, giving you ample opportunity to workout a good solution with your lender.
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August 15, 2010
Because of recent economic turmoil, foreclosures are nearing record quantities as thousands of families have their homes repossessed. As a result of toxic loans, credit extended to people who cannot afford to repay it, banks are closing. In addition, companies have frozen wages, displaced employees, and closed their doors because of rising costs. Consequently, these events have result in millions of homes being placed in foreclosure. Without a doubt, this is an unfortunate report for all the homeowners who have lost their homes or are about to lose everything, but for those who are capable of investing, the increase in foreclosures is a way for them to salvage houses while accumulating wealth.
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