Question: Can my home be foreclosed while I am applying for a loan modification? Answer: Generally, no. Recent loan servicing regulations prohibit “dual tracking”, a procedure where servicers review loan modifications while simultaneously pursuing foreclosure. These regulations restrict servicers from more »
FAQ: I Received a Letter From My Loan Servicer Telling Me My Loan Has Been “Accelerated.” What Does this Mean?
Question: I received a letter from my loan servicer telling me my loan has been “accelerated.” What does this mean? Answer: After a borrower has defaulted on their mortgage loan, the lender has the option––under most mortgages––to demand that the more »
FAQ: I’ve Received a Notice about a Servicemembers’ Civil Relief Act Case Against Me. What Should I Do?
Question: I’ve received a notice about a Servicemembers’ Civil Relief Act against me. What should I do? Answer: The Servicemembers’ Civil Relief Act (“SCRA”) is a federal law that provides certain protections for those in military service. For foreclosure, the SCRA generally more »