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Foreclosure Laws

One of the major concerns of purchasing a home that was recently foreclosed upon is the lack of disclosures usually needed to buy a property with good confidence. The mortgage lender and real estate brokers are always required to disclose what they know, but often times no one has any relevant information to disclose. Most States have a Seller's Property Disclosure Statement (SPDS) which contains a lot of important home inspection information. Unfortunately if you're buying a home from a foreclosure, you are foregoing all that information and will have to do more research yourself. That is also another reason to make sure that your inspections are thorough.

Short Sale 4 Homeowners can help you make the best financial decision in these troublesome times. Our foreclosure prevention team can help you sell your home in a short sale, make a loan modification or delay the foreclosure from 90 to 180 days. For most homeowners, the important issue is deciding which option is best for you with your situation. We can help you mediate with your mortgage servicing bank that holds your note and propose bringing your mortgage up to date by deferring your late payments with forbearance for 9 months to a year and a half. We can help you move the lump-sum of your late payments to the rear of the mortgage amortization schedule. Whether you chose to modify your existing mortgage or utilize forbearance, Short Sale 4 Homeowners can help you find the best solution. With lower interest rates and an improved loan modification you benefit from a reduced interest rate and increased cash flow that enables many homeowners to consolidate their debts. Even if your mortgage company already notified the credit bureaus of your pending foreclosure, there are ways to rectify your credit permanently. provides information about state foreclosure laws. This real estate law info is provided in an effort to assist your understanding for the foreclosure process regardless of what state your property is located in. However, legal information is not legal advice. We cannot not provide legal advice because the laws of every state are different and frequently change. If needed, we suggest seeking additional legal advice based on your needs.

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