Foreclosure Definition

The legal process by which an owner's right to a property is terminated, usually due to default. Typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt.


Monday, August 11, 2008

Stop Foreclosure (Part 1)


Everywhere you look and everyone you talk to the big topic of discussion is foreclosures and how we can stop foreclosure. Over a million homes in the United States are undergoing foreclosure as you read this. Don’t let this be a complete downer. There are a few ways that you can stop foreclosure. Losing your home can be absolutely devastating and you might feel like you have run into a road block but don’t give up until you have exhausted all avenues to stop foreclosure.

In this series of articles I will try and feed you as many tricks as I can for you to beat and stop foreclosure. After you read all of these articles you should have a much better handle on things when the bank comes a calling to take your house. If you want to keep your peace of mind and stop foreclosure then keep an eye on these articles that I will try and get out as fast as possible.

You will never make a bigger investment than your home. Because of this you want to be careful and take your time when choosing the home of your dreams. Make sure you get involved with a realtor that genuinely cares about you and not just their commissions. The best way to do this is ask for references. Another thing is you want to sit down and make a list. First of all the list should be the highest you are willing to pay. It should also include what you need in your home for options. Make sure you stick to the list and the temptation of overbuying shouldn’t be an issue. So by following this you should never get into the position where you have to stop foreclosure.

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