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Foreclosure Archives

Calculation error led to numerous foreclosures

Homeowners in Mississippi who are struggling to stay current with their mortgage payments can understandably be concerned about the potential prospect of losing their homes if they cannot find a solution to their financial challenges. One option that has helped some people over the years is a home loan modification. This involves working with the bank lender to negotiate new terms such as a lower monthly payment and maybe even a reduction in fees so that owners are able to make their monthly payments.

Can you prevent foreclosure?

When you lose your job in Mississippi, you may wonder if you will lose your home because you can no longer pay the mortgage. It is important to take action as soon as you become unemployed so you can examine all of your options.

Home ownership after a foreclosure

For many decades now, owning a home has been a primary part of the American dream and a sign of some semblance of success in life. It stands to reason then that people in Mississippi who lost their homes via foreclosures likely experienced significant disappointments in addition to their financial stresses and challenges. However, they should know that it is very possible to reclaim the title of home owner even after having gone through a foreclosure.

Can foreclosure ever be your best option?

Despite your best efforts, there may times when circumstances (both within and outside of your control) leave you facing foreclosure on your home in Jackson. If and when this happens, do not fret; you certainly are not alone. Data shared by the Federal Deposit Insurance Corporation shows that one out of every 200 homes in the U.S. will go into foreclosure. As you weigh your options when facing foreclosure, you may legitimately want to ask yourself whether allowing a foreclosure to occur would be in your best interest. 

How can I guard against foreclosure fraud?

There are many sayings about not “rubbing salt in a wound” or “kicking someone when they are down.” Residents of Mississippi learn from their parents not to take advantage of others and a bad situation they may be facing. Unfortunately, there are still plenty of people out there that do just that. If you are facing foreclosure, be aware of possible scams that may come your way.

Handling the foreclosure process

No matter how one looks at it, foreclosure can be one of the most frightening experiences a Mississippi resident can face. Home is a place of security, not uncertainty. It is for this reason that many homeowners attempt to avoid the process altogether. While this is not always possible, there are a number of strategies residents can keep in their back pockets to best deal with this stressful process.

The stages of foreclosure and borrower's options

When buying a home in Mississippi, the thought of losing it to financial hardship is likely the furthest thing from one's mind. However, life can throw curve balls to people that they would never have been able to see coming and these things may well put homeowners in the position of being vulnerable to foreclosure. This can be a scary concept but understanding the steps involved and the options along the way is important and may help people avoid unnecessary actions.

What does it mean to have a lien against my home?

You are either facing a foreclosure or getting ready to sell your house, and you get a notice that you have a lien against your property. Understandably, this may cause you some concern. What exactly is a lien, and how can it affect you? It may help you and other Mississippi homeowners to know how liens work.

Bankruptcy, mortgages and foreclosures in a divorce

Among the many concerns spouses in Mississippi may have when getting divorced is how to best handle a home they own together. Perhaps one of the most common things to do in this situation is to sell the house during the divorce. However, not everyone wants to do this and therefore it is important to understand some of the potential long-term implications of keeping a house in a divorce.