What is imminent default on a mortgage loan?

Answer 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 »

Top Q&A For: What is imminent default on a mortgage loan

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 »

Is it better to get a shorter loan mortgage term or prepay on a longer loan?

On One Hand: Short Tem Mortgages Tie Your Hands.A short term mortgage forces you to spend more money on your house payment than you would under a longer term loan. This means that there is less mon... Read More »