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Foreclosure Archives

Protecting yourself from mortgage fraud

As people embrace a new year, they start planning out the goals that they want to accomplish. For some people in Davidson, they may feel that this is the year to get their finances in better shape. One way to do this is to restructure a mortgage or seek help from a company that promises they can help them deal with their large payments. However, national agencies have found that many of these companies are nothing more than a scam - out to make money off of people who are struggling to do the right thing. Therefore, it is important for people to take steps to protect themselves from mortgage fraud.

How does the foreclosure process work in Tennessee?

The foreclosure process, no matter how long or short, can be a nightmare for families going through it. The length of time it takes to complete a foreclosure can vary widely from state to state. In some areas, foreclosing on a home has been known to take two years or longer, especially during the height of the housing crisis. If you are facing a foreclosure in Nashville, you may be wondering how long you have to try to save your home.

Understanding the cause and effects of foreclosure

Homeowners who do not make their monthly mortgage payments over a period of time, run the risk of losing their homes. Foreclosure can also occur if a homeowner has broken any of the terms in the mortgage contract. When these types of situations occur, the financial institution that has provided the mortgage loan may decide to repossess the property.

Will filing for Chapter 7 bankruptcy help you save your home?

Like others in Nashville who are struggling with debt, you may be in danger of losing your home. Depending on your circumstances, however, filing for bankruptcy may stop a foreclosure. At Rothschild & Ausbrooks, PLLC, people often ask us how they can keep their homes and regain control of their finances. In order to help you understand your options, we will discuss how Chapter 7 bankruptcy filings impact foreclosure proceedings.

Foreclosure crisis waning, despite rate of homes in foreclosure

For any number of reasons, people in Tennessee, and throughout the U.S. may fall behind on their mortgage payments. As a result, their mortgage lenders could choose to foreclose, putting their homes in jeopardy. With the decline of the housing market and economy came an increase in foreclosures as many people experienced financial challenges due to unemployment, decreased income and other factors.

Banks may break into still inhabited homes during foreclosures

As a result of financial challenges, the housing market and a number of other factors, people throughout Tennessee may find themselves facing foreclosure. According to a recent USA Today report, between January and June of 2015, the state’s foreclosure rate was one out of every 190 housing units. During the period between when a foreclosure is initiated and when it is finalized, ambiguity may exist regarding who is responsible for a home. In some cases, banks may even go so far as to break into homes that are still inhabited.

What every Tennessee homeowner should know about zombie titles

Due to financial challenges, many people throughout Tennessee have struggled to make their monthly mortgage payments. As a result, some have had their homes foreclosed on, while others have been forced to walk away from their residences. Those who find themselves in these types of situations, however, are often unaware of zombie titles and their potential dangers.

Avoiding foreclosure with bankruptcy

Dealing with the possibility of foreclosure can be hugely stressful for you. This is especially true if you are already dealing with other monetary hassles, which is highly likely if foreclosure is an issue that you are facing. So what can you do when you are being threatened with foreclosure?

Chapter 13 and preventing foreclosure, pt. 2

With a bankruptcy filing, you can stop a foreclosure. For a time. However, before you file, you have to determine if you are going to use the bankruptcy to prevent the foreclosure and keep your home, or merely to prevent the lender from collecting the deficiency balance and any associated costs from the foreclosure, if you abandon the property.

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Nashville, TN 37212

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