Charlotte Foreclosure Attorney - Zellers Rudd

If you walk away from your property without negotiating a deed in lieu or some other settlement with your lender they can sue you directly for a deficiency and seek to liquidate your other assets (bank accounts, cars, boats, other real property, household items, etc.) for payment. A deficiency is the difference between the total amount owed on the loan and the amount the bank realizes from the foreclosure sale of your property.

fter the Foreclosure Hearing in which the Clerk of Superior Court approves the sale of the property being foreclosed, the Trustee will hold a Foreclosure Sale at the county courthouse in which the property is located. At the Foreclosure Sale the Trustee invites offers to buy the property from those in attendance and then accepts the highest bid. The highest bidder is bound by his offer the moment it is accepted.

There is no doubt that it is entirely possible for you to work on your own with the bank to come to a mutually amicable solution to your foreclosure problem, but you must also keep in mind that time is of the essence in dealing with loan modifications. While you are trying to deal with the lender or servicer precious time is slipping away.

After the Foreclosure Hearing in which the Clerk of Superior Court approves the sale of the property being foreclosed, the Trustee will hold a Foreclosure Sale at the county courthouse in which the property is located. At the Foreclosure Sale the Trustee invites offers to buy the property from those in attendance and then accepts the highest bid. The highest bidder is bound by his offer the moment it is accepted.

Repayment plans are a useful tool if you have experienced a short term cash flow problem that caused you to miss a number of mortgage payments.

After the foreclosure sale there is a 10 day upset bid period before the sale becomes final. After that time has passed and there have been no upset bids the sale then becomes final.

Mortgage Modification is a very popular term these days. You see advertisements for them on TV, your lender may have sent you mortgage modification information in the mail and the federal government has created a program to help struggling homeowners based in large part on mortgage modifications. But what exactly is a mortgage modification and how could it help your family?

The North Carolina legislature has enacted new legislation to help homeowners with subprime loans avoid foreclosure. If a homeowner with a subprime loan defaults on his loan, the lender is now required to send to the homeowner a Pre-Foreclosure Notice at least 45 days prior to filing the Notice of Foreclosure Hearing. The Pre-Foreclosure Notice must include an itemization of all past due amounts and other charges that need to be paid in order to bring the loan current as well as a statement th