by Dept. of Reclamation | Jan 19, 2023 | Article
When a homeowner falls behind on their mortgage payments, the lender may begin the process of repossessing the home. This can be a stressful and overwhelming experience for the homeowner, but it’s important to know that there are legal protections in place to...
by Dept. of Reclamation | Jan 19, 2023 | Article
A short sale is a process in which a homeowner sells their home for less than the amount they owe on their mortgage in order to avoid repossession. This option is typically pursued when the homeowner is unable to make their mortgage payments and is at risk of losing...
by Dept. of Reclamation | Jan 19, 2023 | Article
Foreclosure is a legal process that occurs when a borrower is unable to make their mortgage payments and the lender takes possession of the property. It is a last resort for lenders, as it involves selling the property in order to recoup the unpaid loan amount. Here...
by Dept. of Reclamation | Jan 19, 2023 | Article
A forbearance agreement is a legal document that is used to temporarily postpone or reduce loan payments for a borrower who is experiencing financial hardship. This type of agreement is often used in the context of mortgage loans, but it can also be used for other...
by Dept. of Reclamation | Jan 19, 2023 | Article
Foreclosure is a legal process that occurs when a borrower fails to make their mortgage payments and the lender seizes the property as a result. It can be a financially and emotionally devastating experience for the borrower, who not only loses their home, but also...
by Dept. of Reclamation | Jan 19, 2023 | Article
The impact of home repossession on credit and finances: Losing a home through repossession can have significant financial consequences, including damage to a person’s credit score. You could discuss the long-term impacts of repossession and ways to repair credit...
