Sunday, September 20, 2009

When faced with foreclosure, don't give up

ANNE L. WEINTRAUB - Herald Tribune - September 21, 2009

Foreclosure has grown into an epidemic that affects everyone -- or someone they know and love.

It is basically this: the legal process in which a bank holding the mortgage on the property sues the borrower to take back the property when the borrower has not kept up with the mortgage payments. You will know if you are served with foreclosure papers when someone unknown to you places a large package in your hands that says the bank is suing you. Or, if the process server cannot find you, the bank can satisfy the law by publishing a notice about the delinquency in the newspaper. From the date you are served with the foreclosure papers, you only have 20 calendar days to respond or the bank can automatically win the case.

Read the rest of the story:
When faced with foreclosure, don't give up


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