sale Tag

14 Sep What Happens To My Property After Foreclosure?

In Illinois, property is sold at foreclosure by one of several methods, by judicial sale in court, or by a court appointed receiver, trustee or sheriff, usually in the courthouse or by agreement of the parties. The borrower has 7 months after the lawsuit was filed or 3 months after a foreclosure judgment was entered by the court to redeem the property by paying a specified amount to the plaintiff/mortgage holder. If the property is not redeemed within the redemption period, the foreclosure sale transfers all interest in the property to the buyer. A story from California shows what can happen after a bank takes property.
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01 Aug Short Sales: Problems and Pitfalls

With foreclosures skyrocketing, many people are looking for ways out of their mortgages. Short sales are often used to avoid foreclosure. They do avoid foreclosure. But do they really benefit you, the homeowner? In many cases, they benefit others, and can leave you and your credit worse off than filing for bankruptcy. Here’s the inside scoop on Short Sales.
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