There are two types of foreclosures in the United States: judicial and non-judicial.  Judicial foreclosure requires a court hearing to proceed.  The non-judicial type usually just requires a trustee or escrow company to comply with proper notices and then sell the property, sometimes with a sheriff.  Some states allow both kinds of foreclosures, and some [...]

Almost all foreclosures these days are brought by the first mortgage or deed of trust. That’s because with plummeting house values, only the first mortgage has a chance of getting some of their money back out of the house. Most seconds are usually unsecured.
The normal situation is that the first mortgage on the [...]

Attorney General Brown of California has filed suit on behalf of the State suing Countrywide Financial for Mortgage abuses and deceptive practices.  The suit is one of the first of its kind in this day and age of sub-prime loans and soaring foreclosures.
The lawsuit alleges a number of abuses committed by Countrywide, chief among them [...]

Sometimes it’s just not worth trying to save your property from foreclosure.  When your house is now worth less than you owe, and the mortgage has gone up because of an interest adjustment, it just doesn’t make sense to keep it.
So now what?  Well, the good news is that the foreclosure process in California takes [...]

More and more consumers are working with their mortgage companies (or mortgage service companies) to arrange modifications or their loans.
If you are going to seek a modification of your mortgage, do yourself two favors. First, keep a written log of who you were talking and their phone number. Second, make sure any agreements [...]

Recently, I’ve seen several cases where the mortgagor is relaxing their heretofore steadfast position against re-structuring mortgages. This is indeed, good news for homeowners trying to keep their home. Some lenders will add arrearages on to the end of the loan, extending your obligation from thirty to thirty one or more years. [...]