Living After Foreclosure

Welcome to the first post on Living After Foreclosure! Here are some of the things I plan to talk about on this site:

• The foreclosure process — how one gets to that point, what’s involved, how it can be avoided
• The social effects of foreclosure
• How widespread foreclosure affects society and the economy
• How one deals with foreclosure after it’s happened

With each foreclosure there are winners and losers. I hope to present both sides fairly. Foreclosures involve people, so it would be unfair to forget this or dismiss it.

Beyond that, we’ll see where it goes! Thanks for stopping by!

• Steps to take if you’re facing foreclosure, Part 3 Here's the last installment of Liz Pulliam Weston's tips for dealing with the possibility of foreclosure: Offer a deed in lieu of foreclosure. This is an option if the shortfall between your house's value and what's owed on it isn't too much.  The lender can say, "Yeah, I'll take the......
• Steps to take if you're facing foreclosure, Part 1 Liz Pulliam Weston wrote recently on steps to take if you're facing foreclosure.  There are smart ways to go about it, and not-so-smart ways.  Here are her first three suggestions with some of my comments: Make a budget.  If there are places that can be cut in your budget that......
• HUD tips for avoiding foreclosure: Part 2 The US Department of Housing and Urban Development has some good advice for people that are in danger of losing their home through foreclosure. I talked a little about the first three HUD tips here.  Here are some more tips from that list, with some discussion. Know your mortgage rights.......
• Albany's "foreclosure intervention" bill confuses me There's legislation ongoing in Albany, NY, that will allow judges to postpone foreclosure proceeding and modify interest rates on mortgage notes of subprime borrowers. The Wall Street Journal contends in an editorial that this is "pols ... taking a whack at bank balance sheets" by giving judges the authority to......

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