What is a Short Sale?

A short sale is when the lender agrees to take a loss on a mortgage loan if the home is sold for less than the actual amount owed. This is otherwise known as a pre-foreclosure sale. It is an alternative for home owners who get behind on their monthly payments as a...

How to Stop a Michigan Foreclosure

When a home goes into foreclosure for non-payment, a spiral of negative outcomes can occur. After a borrower misses three mortgage payments, a notice of default is filed. The borrower then has 30 days to reply or show up in court to cure the default. If the payments...

What is a Deed in Lieu of Foreclosure?

Getting behind on mortgage payments can cause a lot of anxiety as homeowners come to the realization that they run the risk of losing their home to foreclosure. A foreclosure comes with a host of negatives, which may include a poor credit rating, having to pay the...