A financial hardship letter is a document you submit to your lender outlining your financial difficulties. Communicating with your lender is one of the most important things you can do once you determine you’ll be more than a few days late or unable to make your payment.
The deed in lieu of foreclosure transfers the title of a house from the borrower to the lender. The lender owns the home, and the borrower gets out from under their mortgage. While a deed in lieu of foreclosure will still affect your credit report, it’s often less detrimental than a full foreclosure.
Sometimes your dream home (or dream investment property) can turn into a major nightmare. While most buyers go into a purchase understanding that some repairs are common, you might be one of the unfortunate that learns your new property is full of expensive repairs.
When most homeowners get financing to purchase a new property, they take out a brand-new mortgage for the home’s purchase price. The buyer undergoes the application and underwriting process before the lender presents them with