If I foreclose on rental properties, will the lender always come after me? Due to the downturn in the marketplace, I am struggling to make payments. What are my options?
Yes, I am the borrower and the question should state "If the lender forecloses due to lack of payments…" So it sounds like even after foreclosure where the lender repo the property, they will still come after the difference in price of property and loan amount. Correct?

Your question is confusing.

Let’s get the players straight.

The mortgage company is the lender. If you borrow $100,000 to buy a house, you’re borrowing from the lender. That’s the mortgage company. For example: Washington Mutual or Countrywide. They lend/lent money.

The person who receives the money is the borrower. If the borrower fails to repay the mortgage, then the mortgage company forecloses on the borrower.

And, yes, in the event of a foreclosure, the lender/mortgage company comes after the borrower.

The only way you could foreclose on properties is if you’d lent other people money. Maybe you owned properties, and you sold them, taking back the financing. If the people you sold the properties to didn’t repay, then you’d foreclose on them. You’d be going after the borrowers.

If you’re having difficulty making payments, you can ask the lender to restructure your loan. Or you can ask for forebearance. If those don’t work, you can attempt to sell the properties. If you’re "upside down," owing more than the properties are worth, you can attempt a short sale. You can ask the lender if they’ll accept the deed in lieu of foreclosure. (Some will. Most won’t.) If that doesn’t work, you might be able to postpone the inevitable by filing for bankruptcy. The final step is foreclosure.

Check with a good lawyer for more details.

Save your home now, Before it’s too late: http://www.mortgagefraudexaminers.com/landingsite.html
Solidarity US Dot Org stands united with you!
Tom Genovese was a co-founder of Americans United for justice dot org, he fought the fraudulent bank foreclosure of his home for more than 5 years. Tom followed the advice of his attorneys yet he lost his home to the foreclosure and he and his family were evicted from their home during the holiday season of 2011.
Tom worked arduously in insuring that foreclosure victims understood that the only was to defend their homes was through contract violations, tortious conduct and appraisal fraud,. Before his death, Tom supported Mortgage Fraud Examiners http://www.mortgagefraudexaminers.com/landingsite.html as the only mortgage document examination company that provided attorneys all the ammunition they needed to go to court and win, on behalf of the homeowner.

Tom died of a heart attack, just a few months after his eviction. His family claims that he was never able to fully come back after the unbearable feeling of believing that he had let his family down. He is survived by his wife and son. His son has now joined in the fight against illegal bank foreclosures and also strongly recommends that anyone in foreclosure immediately contact Mortgage Fraud Examiners.

http://www.mortgagefraudexaminers.com/landingsite.html

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Desiree Pilgrim-Hunter, whose family home faced foreclosure by JP Morgan Chase even after their mortgage had been paid, explains her situation and why she turned to community organizations to fight back.

Watch the full interview at http://grittv.org! Distributed by Tubemogul.

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3-7 years depending on how quickly you get back on your feet and which motgage company you apply though

Lawrence Pew, Pew Law Center, http://www.pewlaw.com/ – (480) 525-5351. Arizona Foreclosure Defense Law FAQs: http://thelaw.tv/phoenix/Foreclosure+Defense+Law Disclaimer: http://thelaw.tv/phoenix/a/d/

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lign=”left”/>More:http://www.SHTFplan.com

In this all too familiar tale, the homeowners paid for their home in cash and had no mortgage. Bank of America, for whatever reason, had paperwork showing that they did owe a mortgage and they subsequently foreclosed on the home and seized it. After thousands of dollars spent and the many headaches associated with going to court to clear their names, the homeowners won a judgement against Bank of America.

The homeowner’s attorney says that they repeatedly contacted Bank of America to be paid the legal fees, but the bank ignored the requests.

As a result, the homeowners were left with no choice but to come after the bank’s assets. The showed up at Bank of America with their attorney, a Sheriff’s deputy, and a moving truck – full prepared to seize the banks furniture and cash in tellers’ drawers.

More:http://www.SHTFplan.com

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