Foreclosure Lawyers in the USA
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Foreclosure Lawyers USA - Recent Legal Articles
- Reverse Mortgages and HECMs—What You Need To Know
Reverse mortgages can be a good option for homeowners at or near retirement age in need of additional income. But there are strings attached. Read on to learn what you need to know before starting the process.
- Real Estate Foreclosure in Palm Springs
What is foreclosure? - To foreclose on property is for a creditor to assert a claim of right, given by the owner of property to a creditor, to transfer interest in property to the creditor in the event the present owner (borrower) fails to pay an obligation, usually created by a loan agreement or promissory note. In short, in most cases, it is when a lender takes property from its owner and sells it in order to satisfy an unpaid debt.
- New Report: Mortgage Default Risk Remains High
by Oaktree Law
Mortgage default risk continues to plague the housing recovery. A new report issued by the American Enterprise Institute indicated that the national mortgage default risk remained high in March, even though it dropped slightly from February.
- Know Your Rights Under the Home Equity Theft Prevention Act ("HETPA")
The Home Equity Theft Prevention Act ("HETPA") became effective on February 1, 2007 and now governs certain sales of homes in foreclosure or default. If you are planning to sell a home in foreclosure or default, you should be aware of your rights under the Act, and know what to expect from a legitimate buyer. The Home Equity Theft Prevention Act was passed in response to recent scams which targeted homeowners in financial distress (often elderly or unsophisticated homeowners).
- A Novel Approach to Mortgage Crisis: Take Underwater Homes Through Eminent Domain
Richmond, California has developed a unique solution to the problem with homes that are underwater after the mortgage crisis. It is using the government's authority to take title to property through eminent domain to reduce the underwater mortgage debt in the city.
- And You Thought Your Legal Fees Were High...Banks' Legal Fees Top $103 Billion After Housing Bubble Burst
If you have ever complained about your legal fees, or been reluctant to hire an attorney because you did not think you could afford it, just be glad you are not one of the six largest US Banks recovering from the collapse of the housing market and resulting financial crisis. Bloomberg reports that together, they have amassed a whopping $103 billion in legal costs since the beginning of the Great Recession.
- What Owners Should Know About Homeowner Association Collections
If you live in a homeowners association, condominium, co-op, or other community association, you are probably already familiar with the concept of paying assessments, dues, service fees, or whatever your association may call them. But what happens if you get behind in paying your assessments? Can you stop paying these fees if you think your association is not treating you fairly?
- Understanding and Avoiding Construction Liens
A construction (or "mechanic’s") lien gives builders, contractors, and suppliers legal recourse to get paid for their work as well as any materials or supplies purchased for a project. This recourse is in the form of a right to interfere with your ability to convey clear title to your real property and/or to foreclose the construction lien to take title to that property.
- Top Mistakes Made in Foreclosures
Mortgage foreclosure is the process by which the bank takes your home for not paying your loan. It can be a long, difficult, and confusing process for many homeowners, and if you are facing a foreclosure you should contact a local, qualified attorney for advice on how to respond. In the meantime, here are 10 common mistakes people make during a mortgage foreclosure:
- Short Sales Increase
A short sale allows the lender to avoid the work involved in foreclosing and then trying to sell a property. It allows the homeowner to avoid foreclosure. However, a short sale can also be challenging to all involved.