What Is the Power of Sale Clause in Foreclosure?

What is the Power of Sale Clause in Foreclosure

  A power of sale clause is included in most deed of trust mortgages. It lets a trustee proceed with a non-judicial foreclosure if you default on mortgage payments. In short, this enables foreclosure without going to court. About half of U.S. states allow for non-judicial foreclosure, which is a faster and less costly process […]

What Are Pre-Foreclosed Homes?

What are Pre Foreclosed Homes

  If you fail to make payments on your home, you could lose it through foreclosure. The foreclosure process has several steps, ultimately leading to your eviction from your home and the property being sold at a public auction or trustee sale. Pre-foreclosure is the first step. Homeowners can remain in pre-foreclosed homes while trying […]

What Is Loss Mitigation?


A job loss, pile of medical bills, or other financial hardship can lead a homeowner to face the prospect of foreclosure. In the mortgage-servicing industry, “loss mitigation” is when borrowers and loan servicers work together to lessen the loss when the borrower defaults. The lender, sometimes referred to as an investor, can take on less […]

Coronavirus Mortgage Relief in California

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As novel coronavirus has spread across the globe, COVID-19 has affected every aspect of life. The U.S. Department of Labor reported nearly 3.3 million people filed for unemployment in the week ending March 21, the highest ever recorded.1 In California, 1 million people filed for unemployment in two weeks.2 The virus is not only overwhelming […]