by Kevin Fallon McCarthy | Mar 3, 2017 | HELOC and Mortgage Debts, Mortgage Debt
What is a second mortgage? Second mortgage definition A second mortgage is a lien on a property that is subordinate to an existing first mortgage. A loan to acquire a home is usually the first lien recorded on a property. Subsequent loans generally require new...
by Kevin Fallon McCarthy | Jun 16, 2015 | Debt Relief, Debt Settlement, Foreclosure Deficiency Debt, HELOC and Mortgage Debts
Are Foreclosures Still A Huge Problem? According to NPR, the number of foreclosures in Nevada is up 40% over last year. This amounts to about 900 foreclosure starts in one month statewide. “RealtyTrac, a real estate analytics firm, found one in every 555 homes...
by Kevin Fallon McCarthy | Jan 16, 2015 | Foreclosure Deficiency Debt, HELOC and Mortgage Debts, Loan Debt, Mortgage Debt
From the desk of San Francisco lead attorney Alison Cordova: There are deadlines for foreclosure. Which deadline depends on what type of foreclosure and whether there is a maturity date in the note. In 1933, CA adopted Section 725(a) of the Code of Civil Procedure,...
by Kevin Fallon McCarthy | Dec 15, 2014 | Debt Relief in California, Foreclosure Deficiency Debt, HELOC and Mortgage Debts, Mortgage Debt
As CNNMoney puts it: “they thought losing their home was bad enough.” Yet many people who lost their homes in foreclosure during the recession are now facing significant collections efforts. Who are these people? Anyone who owed more than their home was...
by Kevin Fallon McCarthy | Oct 22, 2014 | HELOC and Mortgage Debts
Settling Mortgage Debt After a Short Sale What is the Difference Between a Short Sale and a Foreclosure? A bank’s usual remedy for a borrower’s default on a mortgage is sale of the property by trustee sale or foreclosure. In a foreclosure there is an...
by Kevin Fallon McCarthy | Oct 22, 2014 | HELOC and Mortgage Debts
What Can You Do About a Second Mortgage Deficiency? As housing values kept climbing, many people were able to take out HELOC (home equity line of credit) or second mortgages to help meet other expenses. When the housing market collapsed and foreclosures increased,...
