Foreclosure Basics
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No word strikes greater fear in a homeowner's heart than "foreclosure." But it doesn't have to. Knowledge is power, and here you can get answers to the most basic questions about foreclosure: What is foreclosure? Should you fight to keep your home or walk away? Will you still owe money after the foreclosure? How long will the foreclosure take and when do you need to move?
Topics Covered
Learn what foreclosure is, how it works, and what options are available to you when facing foreclosure.
Find out what you can expect to happen once you stop paying your mortgage.
Depending on the value of your home, defaulting on a second mortgage may not necessarily mean you will lose your home to foreclosure.
Should you fight to keep your home or walk away? Crunching the numbers may give you one answer, but listening to your heart may give you another.
One of the most important questions you need answered at the start of your foreclosure fight is whether your foreclosure will take place in or out of court.
The First in Time, First in Right rule establishes the priorities of liens recorded against your home, which dictates who gets paid in the event of a foreclosure.
Before you can figure out how to best deal with your foreclosure, you need to know how long your foreclosure will take.
Find out whether your state allows homeowners to redeem their mortgages and buy back their homes after foreclosure.
The best foreclosure strategy for you depends on whether you will owe money to your lender or the IRS after the foreclosure sale.
Learn what can happen if you fail to pay your non-mortgage debts, such as property taxes, homeowners' association fees, and personal judgments, and whether creditors can foreclose on your home to recover those debts.
Manufactured, or mobile, homes are unique in that they sometimes are personal property and other times are real property. The process a lender needs to use when a borrower defaults on a manufactured home loan depends on what type of property the home is considered to be.
Frequently Asked Questions
Articles by Subscribing Attorneys
Here you can read more about foreclosure basics, in articles written by attorneys who are advertising on this website. We have not reviewed these articles for legal accuracy.
If you're in foreclosure in Florida, don't depend on getting the date of your foreclosure sale from your lender. Follow these instructions to find the sale date on your own.
Foreclosure Resources
The Foreclosure Survival Guide
Should you fight your foreclosure? Or should you walk away? Learn what's best for you in this bestselling foreclosure book.
Should you fight your foreclosure? Or should you walk away? Learn what's best for you in this bestselling foreclosure book.
Selling Your House in a Tough Market
Selling your home might solve your foreclosure problems, but how to sell in this down market? Find out in this all-in-one guide.
Selling your home might solve your foreclosure problems, but how to sell in this down market? Find out in this all-in-one guide.
The New Bankruptcy
Find out whether bankruptcy is right for you and whether you qualify for bankruptcy in this plain-English guide.
Find out whether bankruptcy is right for you and whether you qualify for bankruptcy in this plain-English guide.
How to File for Chapter 7 Bankruptcy
If you're thinking about filing for Chapter 7 bankruptcy on your own, read this book to find out whether you qualify and how you can cancel as much debt as possible.
If you're thinking about filing for Chapter 7 bankruptcy on your own, read this book to find out whether you qualify and how you can cancel as much debt as possible.
Nolo's Credit Repair Bundle
Learn how to take control of your personal finances, get out of debt, and repair your credit with this pair of books.
Learn how to take control of your personal finances, get out of debt, and repair your credit with this pair of books.
Find a Foreclosure Attorney
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