alexiiccossa Posted March 18, 2011 Report Share Posted March 18, 2011 [b]bank foreclosures [/b] Speak to your lender. The instant you know there is an issue, or there is going to be an issue, talk with your lender. You don't need to wait until your lender states they are going to foreclose. Your lender would prefer your repayments instead of having to take your home. This is a total last option for them, so talk with them straight away and see if a repayment plan can be arranged which accommodates you both. better off to look for location rather than just the home when you are buying real estate. This is because proprieties that are in foreclosure in blighted areas do not increase in value in general. You want Do KEEP talking with your lender. You can't just make a phone call and expect everything to go away. You need to keep the dialogue open. Also ensure that you read and reply to, if necessary, each piece of mail you get Nonetheless, when this auction is over and the deed is recorded in the new owner's name, then the next step is to evict you from the house. Eviction timeframes vary depending on the state and sometimes the bank foreclosures http://people.virginia.edu/~ji2k/Lighthouse/FAQs/OpenWrite/writer/forclosednationalhome.html My girlfriend said here is one nice link for bank foreclosures Link to comment Share on other sites More sharing options...
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