This is a library of free resources pertaining to foreclosure. If you are facing a foreclosure and want to learn more about how to save your home, contact my office right away. Nick C. Thompson, Attorney: 502-625-0905
Foreclosure is one of the worst things that can happen to someone. In addition, the damage to your credit is worse than if you file bankruptcy. You also lose equity in the home. Then, the lender sticks you with a deficiency judgment, and a 1099-c tax debt replaces the deficiency. Some of the most common…
Do you want to know how to effectively stop foreclosures? To begin, in 2020 the methods are entirely different than what they were in 2010. For instance, now there is no tax forgiveness if the home goes back. Additionally, there is no longer protection for tenants. Finally, there are no requirements for mortgage companies to…
HELOC second mortgage and property tax foreclosures are expected to increase in 2018–2025. $265 billion in home equity lines of credit mortgage loans (or HELOCs) will go into foreclosure from 2015 to 2018 according to Experian. Some homeowners will have to increase these monthly second mortgage payments by 3 to 4 times the present monthly…
Most of us associate buying a home with one of the most significant and special times in life – especially when we’re talking about our first home! When we first sign the papers when purchasing our new real estate, it’s often overwhelming. But, it’s also a feeling of accomplishment, sophistication, and stability. These are all…
Let’s talk about foreclosure and mortgage modifications success ratios and how this might or might not be the best course of action. The truth is, mortgage modification success ratios are very low. To begin to explain this, we start with the Congressional studies from 2010 that show 4% of homeowners were served with foreclosure while…
Rescue and predatory home mortgage frauds are common. Here’s an example for you. One person sends $10,000 dollars to a company in California because that company states they will save that person’s home from foreclosure. In addition, the company claims they will accept payments from the person and make their mortgage payments for them. They…