Mortgage Foreclosure Terms
October 24th, 2010
Mortgage Foreclosure Terms
Can anyone explain, in terms Laymens, about the "new law on mortgage forclosure?
The president has just approved this law ……….. but I do not understand ……… my house is in foreclosure ……. Thanks in advance for any help you can send my way …
If your house is in foreclosure, this bill can not help you. You can ask your lender to see if there is any help available for you, but you must be able to make payments on a restructured loan of some sort. This is not a bailout. It merely requires that the loan is modified into a format acceptable. If you can not handle the new format, you're still going to be executed.
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