Comments on: What are the ramifications of foreclosure?

By: Is This a Good Deal on our 2nd Loan

Is This a Good Deal on our 2nd Loan — Wed, 29 Sep 2010 16:05:58 +0000

[...] end of this post. But if you just have a first mortgage and you decide to file, if is is before the foreclosure sale date, a bankruptcy will stop the foreclosure sale from taking place." From Will filing bankruptcy stop [...]

By: Christi

Christi — Sun, 20 Sep 2009 17:57:44 +0000

Moe, I hope you see this – I’ve posted at the forums & have yet to receive any answers! Our auction date is 10/6/09. This is a FHA loan, and we do have PMI. We are in GA, which I know is a recourse state.

We own another home, which we will be moving into on the foreclosure date.

We are concerned that if they seek a judgment (which, it doesn’t seem like they will – and it would be the PMI company, right not the lender) they could force sale of our other home.

Is it likely that we will have a deficiency judgment from PMI or FHA? If so, what does that mean for us?

By: Duane

Duane — Wed, 22 Jul 2009 00:37:32 +0000

After finding out that foreclosure has taken place, I came across this website during my search for rentals: Smart Solutions Financial Services, LLC. Do you have any scoop on them? Here’s their service offering:
* The Rent To Own Homes Program Fee shall be paid by Tenant in valuable consideration for the following services to be provided in good faith by Smart Solutions Financial Services, LLC: (1) Assisting Tenant and/or Realtor® with negotiating a lease and/or purchase agreement with a Seller/Landlord even though Renter may have damaged credit and this service is normally NOT available to Renters with such a credit status; (2) Assisting the Tenant and/or Realtor® with securing a rent credit from the Seller/Landlord to help fund any down payment which may be required by either the Landlord/Seller and/or home loan provider – if possible (This is a POTENTIAL AVERAGE SAVINGS OF $100.00 – $500.00 per rental payment); (3) Assist the Tenant and/or Realtor® in negotiating with the Seller/Landlord a low or zero down payment and structuring the payment(s) of the down payment to meet the Tenant’s budget – if possible; (4) Assist the Tenant and/or Realtor® in obtaining a closing cost concession from the Landlord/Seller – if possible (This is a POTENTIAL AVERAGE SAVINGS OF $4,000.00 – $6,000.00 in closing costs concessions); (5) Negotiating a better purchase price with the seller – if possible (This is a POTENTIAL AVERAGE SAVINGS OF $5,000.00 – $15,000.00 in purchase savings).

By: pligg.com

pligg.com — Wed, 10 Jun 2009 13:40:56 +0000

Loan Modification & Home Loan News…

Many homeowners want to know the ramifications that a foreclosure will have on their credit and most importantly, their lives.

The facts are that a foreclosure is definitely not the end of the world and it isn’t really going to change your life that…