Repossession is a legal process where a lender or seller takes back property that was purchased through a loan or financing agreement when the borrower fails to meet the terms of that agreement. Typically, repossession applies to items such as cars, appliances or...
Month: December 2024
Can bankruptcy affect your employment?
Bankruptcy is a viable option for those in financial trouble. It can provide the opportunity for a fresh start. Nonetheless, bankruptcy is not always straightforward, and it’s normal to have questions. One issue that consistently arises is whether or not bankruptcy...
What is a foreclosure deficiency balance?
It is important for homeowners to mentally prepare for the fact that if their home is sold as a result of foreclosure, they may remain financially liable for a foreclosure deficiency balance. Understanding this reality can help homeowners to decide whether pursuing a...
