While they don’t require court action, nonjudicial foreclosures still mandate a series of state-sanctioned steps that lenders have to follow. Usually, borrowers have to receive a written advance warning, such as a breach letter or a pre-foreclosure notice, of the lender’s intention. Other st...
Both short sales and foreclosures are difficult times for many homeowners since they occur when they're in financial distress. However, they have very different effects on a homeowner's ability to recover financially. Both will eventually fall off your credit if you satisfy anyoutstanding debtthat...