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If you own a home when you file for bankruptcy, it becomes part of the bankruptcy estate, the property or assets you own. In October of 2022, there was a twenty-seven percent increase in chapter 13 bankruptcy filings over the previous year. Bankruptcies, including all chapters, total a seven percent increase overall, which correlates strongly … Continued

Stopping the foreclosure process of your North Carolina home can be challenging, but it’s not impossible. Dealing with banks, negotiating terms, and stressing over your mortgage can feel unbearable, but many options are available. Foreclosure is more common than you might think and affects millions of Americans every year. If you’re having trouble making mortgage … Continued

The wheels that drive foreclosures turn very slowly, and there is ample opportunity to steer the ship in a new direction and salvage your future. Sadly, foreclosure is entirely avoidable, yet lives are often damaged for years because homeowners weren’t fully informed of the consequences and took no action to prevent the process.  Whatever circumstances … Continued

Being in a situation where you owe more on your home than it is currently worth, known as an underwater mortgage, can be challenging, especially if you need to sell quickly due to personal or financial circumstances. The stress of selling a house under these conditions can be overwhelming. However, understanding your options can help … Continued

Dealing with the threat of foreclosure can be an overwhelming situation for homeowners in North Carolina. Beyond the risk of losing your home, it can also lead to lasting damage to your credit score and financial well-being. The good news is that there are viable solutions for homeowners facing foreclosure, such as partnering with direct … Continued

It’s no secret that foreclosure rates in America are on the rise. This can affect the North Carolina real estate market in all sorts of ways. The housing market has always been a volatile industry. With fluctuating prices, ever-changing regulations, and unforeseeable economic conditions, it can be challenging for homebuyers and home sellers to navigate … Continued

Home sales usually fall into one of three main categories: traditional sales, short sales, and foreclosures. For buyers, each has pros and cons, though generally speaking the cheaper properties are short sales and foreclosures. But if you’re a buyer, you need to keep in mind that these properties are usually cheaper for a good reason. … Continued

Whether you find yourself in a situation where you’ve overpaid for a property in a bidding war, fallen behind on mortgage payments, or property values have decreased, being upside-down on your mortgage can be challenging for homeowners. If you are facing the possibility of foreclosure and need to sell your house rather than waiting for … Continued

Foreclosure and preforeclosure are two terms that are commonly used in the real estate industry. While these terms may sound similar, they have very different meanings and implications for both homeowners and potential buyers. What is Foreclosure? Foreclosure is a legal process that occurs when a homeowner is unable to make their mortgage payments. When … Continued

If you’re concerned about your property going into foreclosure due to circumstances beyond your control, the optimum scenario would be to work with your lender for a resolution before things go any further. However, going through the foreclosure process can be made easier when homeowners understand what lies ahead, so read on as we explore … Continued