Foreclosure isn’t a good thing, but knowing more about how it works and the alternatives to it can be useful.
I wrote quite a few posts about foreclosures back in the early 2000s when it was common to walk away or lose your home.
But since that time, foreclosure has become a lot more rare. This is great news obviously, with the typical homeowner in a much better position today.
You can thank rising home prices, lower-risk mortgages, and ultra-low mortgage rates for that.
However, there will always be cases when foreclosure takes place.
Aside from the posts below, you can read more about the foreclosure process and how to keep your home if you’re at risk of losing it.
Some foreclosure alternative include short sales and deed-in-lieu of foreclosure.
In an effort to keep more veterans and servicemembers in their homes, the VA has paused foreclosures for the next six months. The move was… Read More »Foreclosures Halted for VA Loan Holders Until June 2024 (Extended to December 31st)
Real estate doom and gloom articles are going to ramp up big time in coming months, if they haven’t already. You’re going to hear that… Read More »The Truth About Falling Home Prices
Some good news for homeowners struggling to make ends meet thanks to COVID-19, which as the name implies has been going on for a while… Read More »You Can Now Request COVID-Related Mortgage Forbearance for Up to 18 Months
The co-founder and CEO of a so-called “tech-enabled residential mortgage servicer” named Valon (formerly Peach Street) has warned we could be on the brink of… Read More »The CEO of a Tech-Enabled Loan Servicer Believes We Might Be on the Cusp of Another Foreclosure Crisis
The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back… Read More »Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance
While it’s still possible to request mortgage forbearance via the CARES Act if you’re having trouble making monthly payments, this option will eventually come to… Read More »What Will Happen When the CARES Act Forbearance Option Ends?
The latest Mortgage Monitor report from Black Knight reveals that many homeowners in forbearance plans are sitting on a healthy amount of home equity, meaning… Read More »Home Equity Could Prevent Flood of Forbearance-Related Foreclosures
The Federal Housing Administration (FHA) finally announced a new policy, which is temporary, to endorse mortgages where the borrower has requested or obtained COVID-19 forbearance.… Read More »FHA Will Insure Mortgages in Forbearance, With a Catch
Maybe there’s some good news out there, or maybe it’s just the calm before another storm. The mortgage forbearance rate barely budged during the week… Read More »Mortgage Forbearance Rate Only Rises 3% From a Week Ago, But Second Wave Could Be Coming
The mortgage forbearance rate increased again last week, rising to 7.91% from 7.54% a week earlier, per the Mortgage Bankers Association (MBA). That marked the… Read More »Mortgage Forbearance Rate Up Near 8%, Housing Assistance Fund Proposed
