Josh Talayka | July 25, 2011
At the onset of our current economic recession, the majority of distressed homeowners having difficulty paying their mortgage came from the subprime sector where borrowers were facing adjustable interest rates. As the markets have continued to worsen and unemployment/wage reductions have increased, these defaults have expanded to include all types of mortgages, including FHA. However, one of the benefits of an FHA mortgage is that there are many workout options in place to assist borrowers. The following are just a few of the workout options that the Department of Housing and Urban Development (federal agency that regulates and insures FHA mortgages – HUD) has in place:
Category: FHA loans, Loan Modification Series, Short Sale & Foreclosures |
No Comments »
Tags: Chase International, Deed-in-Lieu, FHA, forbearance, foreclosure options, Foreclosure Prevention, HUD, Loan Modification, Making Home Affordable, MHA, Nevada, NV, partial claim, Pre-foreclosure Sale, Real Estate, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | July 11, 2011
The Nevada Mediation Program gives homeowners facing foreclosure the option to mediate an alternative to foreclosure. Since the program came into existence, it has successfully helped many homeowners find a solution with their lenders, who otherwise would have suffered a foreclosure.
Category: Foreclosure Mediation Program, Loan Modification Series, Short Sale & Foreclosures, Uncategorized |
No Comments »
Tags: Chase International, deed in lieu of Foreclosure, Foreclosure, foreclosure alternatives, Mediation, Modification, Nevada, Nevada Mediation Program, NV, Real Estate, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
Josh Talayka | June 3, 2011
Although a foreclosure may be done outside of court, the lender must still adhere to very specific procedures and timeframes that are defined by law. Once all the timeframes and requirements above have been met, the lender may carry out their foreclosure sale (Trustee’s Sale). Following the foreclosure, the lender may still be able to sue the borrower for any deficiency in the amount received from the trustee’s sale.
Category: Credit, Foreclosure Mediation Program, Loan Modification Series, Short Sale & Foreclosures, Tax |
No Comments »
Tags: Chase International, Credit, Deed-in-Lieu, Deficiency, Foreclosure, foreclosure options, foreclosure timeframe, Judicial, lis pendes, Modification, Nevada, NOD, non-judicial, NOS, Notice of Default, notice of sale, NV, Real Estate, reinstatement, reno, short sale, Talayka, www.sellinghomesinreno.com, www.sellingnorthernnv.com
