Having a short sale or foreclosure in your past isn’t a rarity, nor is it a life sentence. You can be a homeowner again—and sooner than you might think.
Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved.
Confused about lending terminology? Don't be. Use this easy glossary to build your borrower's vocabulary.
Filing for bankruptcy is typically a last resort for those who can no longer pay their creditors and need a new start. Depending on the type of bankruptcy a borrower files, assets are liquidated to pay off debt and/or to create a repayment plan.
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