Lenders Foreclosing on Residential Mortgages Must Still Offer 90-Day Foreclosure Moratorium: Sunset is Extended to June 30, 2013

Lenders who were hoping the 90-day postponement on many foreclosure by advertisements would come to an end December 31, 2012 will have to wait another 6 months.  In 2009 the Legislature created a 90-day moratorium on foreclosure by advertisement to provide borrowers a chance to negotiate a loan modification with their lenders if the property was their principalContinue reading “Lenders Foreclosing on Residential Mortgages Must Still Offer 90-Day Foreclosure Moratorium: Sunset is Extended to June 30, 2013”

The Benefits of a Short Sale….After Foreclosure?

A short sale  is a sale of property conditioned upon a bank’s  approval of a reduced loan pay off and its agreement to discharge its mortgage. In a short sale a borrower owes the bank more than the property is worth. A short sale can make sense for both a buyer and a seller.  For more onContinue reading “The Benefits of a Short Sale….After Foreclosure?”