A Loan Modification is a valuable tool in helping homeowners get back on track with their loans and protect their homes from foreclosure, but often even after a loan modification people end up right back where they were, and sometimes even worse. In fact, more than half (55%) of loans modified in the first nine [...]
Tag Archives: San Diego Foreclosure
Pitfalls to Avoid during the Loan Modification Process
Posted in Loan Modifications Also tagged foreclosure, home loan, interest rates, Loan Modification, mortgage, mortgage rates, mortgages, real estate, San Diego real estate Leave a comment
Know The Lingo; Postponement - Trustee Sale
POSTPONEMENT - Trustee Sales may be postponed by the Trustee at the direction of the lien holder. Notice may be given in advance or at the time and location specified for the intended sale.
PRIVATE MORTGAGE INSURANCE (PMI) - A policy of insurance paid for by the borrower to protect the lender in the event the [...]
Know The Lingo; Judicial Foreclosure-Notice Of Trustee Sale
JUDICIAL FORECLOSURE - A foreclosure action conducted through the courts instead of through a
foreclosure trustee. Judicial Foreclosures are very uncommon in California, particularly on residential
properties. Should a lender elect to pursue a deficiency judgment, it would be through a Judicial Foreclosure.
JUNIOR LIENS - A lien, usually a mortgage loan, that is subordinate to a Senior [...]
Know The Lingo; Foreclosure Glossary B-F
Study up and learn the lingo from the following Glossary of Terms:
BENEFICIARY - The beneficiary in a foreclosure context is generally the mortgage lender. Frequently referred to as the “Benny”.
CREDIT COUNSELING - Under the new bankruptcy law which took effect in October of 2005, those wishing to file bankruptcy must complete an approved credit counseling [...]