There is life after a foreclosure. Regardless of the reason behind the foreclosure, you can purchase another home eventually, though it probably won’t be as simple as purchasing your first home. Mortgage lenders require a mandatory waiting period between the foreclosure along with your getting a new mortgage. Using this time sensibly will help you [...]

A foreclosure property is a piece of property a mortgage lender sells to cover off a defaulted mortgage loan. Every foreclosure culminates in a public auction in which the lender sells the property and anybody can buy the property. Or you could buy a foreclosure property from a bank after the lender purchases the property [...]

Congress created the Federal Housing Authority, or FHA, in 1934 when only 40 percent of American houses were owned by their own citizens. Since 1934, the FHA has insured the mortgages on more than 34 million possessions. The agency does not lend money for mortgages; rather , it insures mortgage lenders against losses whenever they [...]