An agreement with a bank or other lender for a loan on a property. The lender has the right to take possession of the property if the loan is not repaid.

 

Related Articles:

What Are My Options to Keep My Home If I’m Behind on My Mortgage?

Which Is Better, Stay and Get a Loan Modification, or Move and Rent-to-own?

Is a Loan Modification Right for Me?

What to Do If the Bank Offers a Bad Deal for a Loan Modification

How to Do a Short Sale If You Have Poor Credit

The Perfect Storm – What to Do If You Are Underwater with Bad Credit and No Money

What to Do If You Owe More than Your House Is Worth

The Pro’s and Cons of a Loan Modification

What Are the Options You Would Recommend for Someone to Avoid Foreclosure?

If I Have a Reverse Mortgage and I Am Facing Foreclosure, What Can I Do?

My Siblings and I Inherited a Property in Poor Condition That We Want to Sell. What Are Our Options?

Can I Buy a Home after a Short Sale?

Why Do Banks Prefer a Short Sale over Foreclosure?

Which Is a Better Alternative to Foreclosure? Loan Modification or Rent-to-own?

What to Do If You Are Underwater on Your Home

Stay in Control When You Are Faced with Foreclosure

Why a Loan Modification May Not Be Your Best Option

Understand Your Mortgage Debt When Faced With Foreclosure

Why Selling Can Put You In a Better Financial Position Than a Loan Modification

Ten Frequently Asked Questions About Short Sales

How New York Homeowners Can Live Rent Free

Why Would The Bank Accept a Short Sale?

How to Convince the Bank to Agree to a Short Sale