11 dirty secrets to stop or delay foreclosure that your bank doesn't want you to know.
Foreclosure is a serious legal matter, and in most but not all cases, is a result of the homeowner falling behind on their mortgage. The lender is seeking legal remedy to claim the property secured by the mortgage for non-payment of the home mortgage and promissory note associated with it. In the United States, a property is secured by one of the two different types of mortgage documents. The two different types are either a Deed of Trust or a Mortgage Deed. They're relatively similar and it is the legal document usually recorded at the Registry of Deeds to guarantee the lender's rights and interest in the property. The Mortgage also gives rights to the borrower, as well. In most cases, besides offering the property as security, the borrower also signs personally and may even be responsible for the deficiency if ...
