What is loan foreclosure?

Answer When you sign a mortgage loan agreement, you must adhere to the terms and conditions of your mortgage contract. Your failure to do so may result in a mortgage loan foreclosure.FactsA mortgage loan ... Read More »

Top Q&A For: What is loan foreclosure

If I Had a Foreclosure on a VA Loan 30 Years Ago That Wasn't Restored, Can I Get a Home Loan Now?

A VA home loan is a mortgage insured by the Department of Veteran's Affairs (VA). Guidelines for VA loans are altered on a continual basis for general qualifying purposes; however, the guidelines i... Read More »

Can you get a mortgage loan after a foreclosure?

On One Hand: You Can Get a MortgageWhile having a foreclosure on your record certainly does not bode well for your immediate future mortgage opportunities, a foreclosure will not shut you out compl... Read More »

Is the knocked off sum at a foreclosure the balance of the loan?

No, the "knocked off" sum at a foreclosure does not represent the balance due on a mortgage loan. It represents the loan balance due, including interest and other costs, minus the amount the highes... Read More »

How to Buy a Foreclosure House With a Loan?

For those with credit good enough to secure a mortgage loan, a struggling housing market presents the opportunity to buy a foreclosed upon home at a discount. Fortunately, buying a house in foreclo... Read More »