June 20, 2019

Help Homeowners Facing Foreclosure: Part Two of Three

In my¬†first post of this series we covered the foreclosure process and defined some basic real estate terms related to distressed sales. In this article I'll cover questions and answers on preventing foreclosure, negotiating with a mortgage company, and what to do about an adjustable rate mortgage that will soon reset. Q: Can I legally prevent a foreclosure? First, there is very rarely any … [Read more...]

How Debts are Collected in North Carolina

You may know that North Carolina law allows judgment creditors to collect judgments owed to them in certain ways and under certain circumstances, and that these laws vary from state to state. You may also know that North Carolina does not allow wage garnishment for consumer debts (credit cards, auto loans, mortgages, and the like) or for many private business debts (money owed to vendors, banks, … [Read more...]

Cash for Keys?

The copywriter who thought up "Cash for Keys" did a good job. Unfortunately, the process isn't as simple as the catchy title implies. You don't simply hand the keys over to the mortgage company, take your $1000 to put down on an apartment and walk away. [important]Unless you file for bankruptcy protection, any time you sell or surrender your home for less than the balance due on the mortgage(s) … [Read more...]