Debt is a problem that can spin out of control if it is not taken care of properly. As debt is allowed to grow, a person's ability to pay it down becomes considerably more difficult.
While it is true that just making minimum monthly payments will eventually lead to a debt free life, debt can ... Views: 1049
The consequences of foreclosure can be far reaching. While foreclosure laws vary from state to state, general strategies exist that apply in most situations. It should be kept in mind that stopping foreclosure does not always imply keeping the house. Stopping a foreclosure may only benefit ... Views: 929
The word bankruptcy has several negative connotations attached to it. Many people are afraid of the word because they have the idea that it is associated with losing everything they have worked so hard to gain.
In reality, a bankruptcy is a form of consumer protection law designed to allow ... Views: 830
A short sale is a real estate term that describes a home owner being approved by their lender to sell a property for less than the amount owed on the original loan. In most cases, the lender that agrees to the short sale will agree to forgive the remaining debt.
There was a time when banks ... Views: 793
Foreclosures are to the real estate industry what repossessions are to the auto industry. It is the taking back of property by a lender when a borrower defaults on a loan. Since foreclosure laws vary from state to state, the time between first notice and public auction will also vary. Even ... Views: 741
Bankruptcy is a funny thing. While it is true that a bankruptcy can negatively impact a person's credit score in a very bad way, the process of bankruptcy recovery is something that starts as soon as the bankruptcy process is officially over. In theory, a person can begin the process of ... Views: 731
There is no minimum debt required to file for bankruptcy. Since bankruptcy is a consumer protection program, designed to protect all consumers, the amount of debt required to file for bankruptcy is relative to a person's ability to pay their debts, or relative to the consumer. Folks have ... Views: 702