BLOG

During the foreclosure process, you will receive multiple documents. It is important to pay attention to what you receive because these papers will provide you with a range of information about the foreclosure and where you are in the process. If you and your lender cannot agree on a loss mitigation option, you will receive a loss mitigation affidavit after the order to docket, which is the filing of the foreclosure with the court. You may receive one of two different affidavits. Preliminary loss mitigation

During the foreclosure process, you will receive various documents that allow you to know what is happening. The first document you will get is a Notice of Intent to Foreclose. This notice is your warning that the lender is going to file a foreclosure. It is essential to pay attention to it. The details The NOI will tell you that the lender is considering filing a court case to take your home because you are overdue on a loan payment. It should contain information that

Maryland’s foreclosure process requires lenders to follow a sequence of mailings and legal filings. As noted by the Maryland Department of Labor, a Notice of Intent to Foreclose is the first certified letter that you may receive. The Notice of Intent acts as a warning. It informs you that your lender intends to file a foreclosure action after 45 days from the date of the NOI. You may also receive a “Loss Mitigation Application” with the notice. After filling out the included application, you may

Circumstances that make life hard can impact your finances. You may suffer a prolonged illness, a severe injury, damage to your property due to a storm, or the loss of a job. These situations may hamper you from making your mortgage payments. To prevent your bank foreclosing on you, you might approach your bank to request forbearance. You probably have a general idea of how forbearance works. Your mortgage lender agrees to pause your mortgage payments or let you pay lower amounts on a temporary

Lately, you struggle to keep up with payments on your home in Maryland. Life threw several financial curve balls at you recently, and you fear your lender may foreclose on your home. The U.S. Department of Housing and Urban Development offers tips to avoid foreclosure. Rather than wait for worrying phone calls and letters, get proactive about your financial situation. Do not ignore notices in the mail If you receive notices in the mail from your lender, open them rather than set them aside. Lenders

When faced with foreclosure on a home, any idea may sound like a good idea. Is a deed in lieu of foreclosure one worth pursuing or will it only cause more problems for homeowners? Honestly, getting a bank to agree to a deed in lieu of foreclosure may prove difficult and the homeowner may still end up losing the home.  According to Bankrate, when a homeowner chooses a deed in lieu of foreclosure, instead of forcing the bank to seize the property, he or she signs

If you experience a boost in your personal fortunes thanks to a job raise or an inheritance, you may decide now is a good time to pay more on your mortgage so you can finish paying it off more quickly. While paying off your mortgage faster can be a good thing, making extra payments might actually cause you trouble. If you have enough money to pay off your mortgage early, you should not have a problem. However, if you need future income to make the

Getting behind on mortgage payments is scary and stressful. It does not take too long before the process of foreclosure begins.  The good news is there are resources for those who are struggling to keep up with payments. Taking the right steps can prevent someone from losing the home.  Be proactive  According to the U.S. Department of Housing and Urban Development, seeking help right away is important to avoid foreclosure. As soon as a homeowner is unable to make a mortgage payment, contact with the lender should