If you’ve gotten a foreclosure notice of default and want to know what the heck is going on, keep reading. Basically, a foreclosure notice of default is a document that has to be filed by a lender to start the process of foreclosure. The foreclosure notice of default must be sent to anyone who has … Continued
With millions of homes across the country going into foreclosure, it’s important for both buyers and mortgage holders to understand the process. So what is a pre-foreclosure in Syracuse NY area anyway? Many homeowners across America and Syracuse NY area are facing difficulties making their monthly mortgage payments. When a homeowner misses 3-6 months of mortgage payments, … Continued
While the housing market is rebounding, many people in Syracuse NY area] are still struggling to make their mortgage payments. If you’re underwater on your home, or having trouble keeping up with your monthly mortgage payments, you could be fearful that your mortgage provider is going to foreclose. Thankfully, there are a number of things that you … Continued
Whether you’re a buyer or a borrower/seller, a short sale, and foreclosure each present different advantages and difficulties. What Is A Foreclosure In Syracuse NY area, NY? In simple terms… “A foreclosed home is one in which the owner is unable to make his mortgage loan payments and the bank repossessed the home” (source). If … Continued
A recent study estimates that 47% of foreclosed properties are still occupied. When you first see that stat you may be surprised… but we’re not. What most people don’t realize is that banks aren’t in the business to own homes. They are in the business to loan people money. But when they have to foreclose … Continued
Understanding the foreclosure process in NY is an important part of navigating your own home foreclosure. Before we dive in… Understanding the Foreclosure Process in NY What is foreclosure anyway? Foreclosure is the legal process that lenders use to take back property securing a loan, generally after the borrower stops making payments. Foreclosure is no fun. … Continued
Do you have a Syracuse NY area NY house that’s in foreclosure right now? Many people going through the NY foreclosure process want to get out from under that burdensome house and wonder if they can sell the house in foreclosure. The short answer: yes. The long answer: it’s a little more complicated, but usually … Continued
If you’re looking to buy a property in Syracuse NY area, you may want to consider purchasing short sales or foreclosures. These types of properties can often be purchased at a discounted price, making them an attractive option for real estate investors. However, it’s important to understand the unique challenges and potential risks that come … Continued