The container ship APL Minnesota, operated by Singapore-based American President Lines. (Photo credit: Wikipedia) Supporters of U.S.-flag merchant shipping are fighting hard to protect it against cheaper foreign competition. But the fleet is effectively dead already, according to one industry expert.
Notice of Default. The Notice of Default starts the official foreclosure process. This notice is issued 30 days after the fourth missed monthly payment. From this point onwards, the borrower will have 2 to 3 months, depending on state law, to reinstate the loan and stop the foreclosure process. Judicial vs. Nonjudicial Foreclosure.
There are consequences that borrowers who faced foreclosure will have to deal with before buying another home, and it will take time to heal the damage done by the foreclosure process. How long you need to wait to buy another home depends on how deep the damage was to your overall financial picture and how well you recovered afterwards. In order to recover and buy again, you must focus diligently on improving your credit and saving money. Here are five key variables on how foreclosure, short sale, or deed in lieu can impact your next home purchase: 1. Duration of delinquency is a factor. Foreclosure proceedings and short sale transactions can take quite a bit of time (depending on the state in which you live and the banksâ procedures), and homeowners in foreclosure or short sale are often unable to continue making monthly ...