A Common Situation Explained A situation that arises fairly often when a title company is requested to insure a transaction, is where an Abstract of Judgment has been recorded against the seller, and the seller has subsequently received a discharge of the debt in bankruptcy. Unfortunately, the discharge of the debt itself does not eliminate …
RealtyTrac’s year-end report released Thursday shows foreclosure filings – including default, auction, and bank repossession notices – were reported on 1,887,777 U.S. properties in 2011. Of that total, 804,423 homes were taken back by lenders as REO. Last year’s tally of nearly 1.9 million properties with a foreclosure filing seems staggering, but it’s actually the …
When Catherine submitted her offer on a lovely townhome in June, she was told to expect a slight delay in closing because appraisers and home inspectors were so busy with the early summer rush of sales. But she never expected her closing date to be delayed at the last minute because of issues caused by …
President Obama has made a public call for mortgage lenders and servicers to provide struggling homeowners with longer-term modifications and principal reductions when it fits the situation. Referring to the American taxpayers’ bailout of the banking system, which the president described as probably the most unpopular thing the government has ever done, Obama said, “[W]e …