What Happens During House Foreclosure?

Part of the Video Series House Foreclosure Tips

Viewing videos requires the latest version of Adobe's Flash Player.
Get the latest Flash player.

Member Comments

Login or register to be the first to comment on this article!

Video Transcript

What Happens During House Foreclosure?
Hi this is David Anderson on behalf of Expert Village talking to you about the foreclosure and particular number seven "What happens during foreclosure?". Well this is meant for discussion and not for legal advice please consult for legal advice and most all references are being made about it the trusty foreclosure. During the foreclosure process you would be getting all kinds of mail, phone calls, and other means of communication from both the lender and other outside people wanting to talk to you about your property. The legal process has begun and there is no way to stop it you just sit back and wait for something to happen to help you. There is nothing that would help you unless you do something. The trusty is working on getting your home to auction, the lender has stopped excepting all payments on your behalf. If they accepted partial or full months payment, then they have to stop the foreclosure process so they are not going to allow you to make any payments other then the full amount due plus fees to catch up on your default. You will start being referred to lost ligations or the workout departments when you try to contact the lender. It is important to get a person name or a direct number or email to contact them back. They are very busy and sometimes you can get the run around just trying to get back a hold of them without the contact information. It is best to try to document all of the conversation and activities that you are doing such as who calls you and what was said and what was agreed upon. These notes are very valuable when you get switched the change of command and it shows that you are taking a seriously and you are trying to make it right. This has been David Anderson on behalf of Expert Village talking about the foreclosure process in particular what happens during foreclosure.

About the Expert

Expert: David M. Andersen has been working in the Mortgage and Real Estate field for the last 7 years. He is both a Real Estate Broker and a Mortgage Loan Officer. Read More

Related Videos (1-5 of 168)

Importance of a Sign In Sheet at an Open House
Rating: Unrated
Views: 2,248
Advertising When Selling a House
Rating: Unrated
Views: 1,337
Basic Real Estate Tips
Rating:
Views: 1,246
Where to Put Furniture When Selling a House
Rating: Unrated
Views: 1,092
Credit Score When Buying a House
Rating:
Views: 1,087

Arts & Entertainment | Business | Careers | Cars | Computers | Culture & Society | Education | Electronics | Fashion, Style & Personal Care | Food & Drink | Health | Hobbies, Games & Toys | Holidays & Celebrations | Home & Garden | Internet | Legal | Music | Parenting | Parties & Entertaining | Personal Finance | Pets | Relationships & Family | Sports & Fitness | Travel | Weddings | Bartending | Cooking Dictionary
Partner Sites: Airliners | How to Articles | Answers | Funny Videos
Demand Media