How to Be Smart About a Mortgage Default Situation?

Answer So you've defaulted on your mortgage. I can give you some pointers on what to do to slow down the court process and give you time to figure out your finances. These tips may give you the time you n... Read More »

Top Q&A For: How to Be Smart About a Mortgage Default Situation

How do I get a mortgage loan out of default?

Call the LenderDo not ignore contact attempts or letters from the mortgage company. The first step is to contact the lender directly once you have received a default notice. The lender does not ben... Read More »

What is the mortgage default rate?

According to the Standard & Poor's/Experian indices, the mortgage default rate in June 2010 in the United States was 3.27 percent on first mortgages and 2.41 percent on second mortgages. These numb... Read More »

What Happens When You Default on a FHA Mortgage?

The Federal Housing Administration (FHA) issues insurance against mortgage default. In other words, an FHA mortgage is protected by the federal government in the event that the homeowner cannot con... Read More »

What is imminent default on a mortgage loan?

Imminent default on a mortgage loan occurs when homeowners are unable to pay their monthly payments. Because they cannot afford to fulfill their financial obligations, these homeowners often face f... Read More »