The transactions of real estate at auctions have become more popular than the traditional mode of transactions through real estate brokers or agents. The traditional mode gives personalized service and a personal touch to the transactions. But the auctions, although somewhat impersonal, are more efficient, fair and less time consuming. Therefore, the transactions through auction […]
Two types of properties usually end up in auctions: foreclosure auctions and tax lien auctions In the case of foreclosures, if the home owner fails to pay the mortgage installments for several months the lending bank files a notice of default with the county registrar. If the borrower continues to default or does not re-negotiate […]
A lender can initiate foreclosure process if the borrower fails to make monthly payments on mortgage loan for two months or more. Prior to initiating this process the lender gives a notice to the borrower to effect the outstanding payment within a specified period of time, usually within 20 days. This notice period is known […]
When you miss on your mortgage payments the lender initiates a legal process to repossess the property, which is known as foreclosure. If you owe more than your property’s worth, the lender pursues a deficiency judgement. Both of these actions will have negative impact on your future creditworthiness and, hence, should be avoided as far […]
Foreclosed real estate properties usually end up at auctions. This is the easiest and the most convenient mode for a lending institution or the bank to realize whatever possible recovery out of a bad loan against the mortgaged property. Loans against Property Mortgages The role of the lending institutions begins at the time of buying […]
Everyone tries to hide financial failure, but when all-round funds crunch hits a family it cannot be hidden for long. First and foremost, the lenders pressurize you to fulfill your financial obligations such as the home loan installments falling due against the mortgaged property. When all your efforts to work out some arrangement fail, the […]
Real estate auctions occur because of a variety of reasons. Mainly they are a direct fall-out of default on mortgage loans. When a borrower against property mortgage is unable to repay in agreed installments the principal and interest of the loan amount, the lender exercises his right to acquire the mortgaged property which is known […]
Real estate investing can reap huge profits for a shrewd and careful investor. The data collected by the U.S. Census Bureau indicates that the prices of real estate have been steadily increasing since 1940, although briefly stagnating in between. The real estate prices have been galloping much faster than the rate of inflation. According to […]
Foreclosure is a specific legal process by which the mortgagee (lender) acquires the right over the mortgaged property for recovery of the defaulted loan. The lender usually sells such property through auction sales. Personal calamities or contingencies such as divorce, relocation, arrest or pure financial failure forces a borrower to stop making further payments of […]
Real Estate auctions certainly are an effective and innovative way to sell property. A real estate auction gathers a host of potential buyers, whom the seller has to spend very little effort in marketing the property to and the seller ends up with quite a good amount from the sale of his property. Although real […]
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