Monthly Archives: December 2021

Stop Foreclosure by Selling Through a Short Sale

Posted by Shawn Simpson // December 29, 2021

You may be able to stop a foreclosure by selling through a short sale with the bank’s permission before the foreclosure process begin s. A pre-foreclosure sale, also known as a short sale, allows homeowners to sell their home at current market value and use that money to satisfy their mortgage. Stop Foreclosure by Selling Through a Short […]

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Reinstating a Loan

Posted by Shawn Simpson // December 22, 2021

There are nine ways to stop a foreclosure. Let’s look at the first, reinstating a loan. Reinstating a Loan  Nolo says, “A “reinstatement” occurs when the borrower brings the delinquent loan current in one lump sum. Reinstating a loan stops a foreclosure because the borrower catches up on the defaulted payments. The borrower also has […]

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Losing Your House to Foreclosure

Posted by Shawn Simpson // December 15, 2021

According to a Black Knight’s report published in October, home equity may not save some borrowers in forbearance from losing their house to foreclosure despite record-high home prices. Since 2010, around 10% of borrowers with more than 120 days in delinquency found themselves in foreclosure, regardless of their equity. However, in a report published last month, Black […]

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House Prices are Rising

Posted by Shawn Simpson // December 8, 2021

House prices are rising three times as fast as the cost of living. Prices are up 27% in the last two years. As a result, people are again “taking out” equity, going further into debt. That works for a while because you are paying off debt in cheaper dollars. House Prices are Rising The median […]

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Do I Really Need Homeowners Insurance

Posted by Shawn Simpson // December 1, 2021

There are a lot of costs associated with owning a home besides your mortgage payment. You have utilities, maintenance and repair costs, property taxes, homeowner’s insurance, and possibly an HOA (homeowners association) fee and private mortgage insurance. It’s not uncommon to look for ways to reduce your costs. For example, you might ask yourself, “Do I really need homeowners insurance? […]

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