| incredible home household loan mortgage refinancing for the real estate market,'' said Robert Aalberts, a business-law professor at the University of Nevada-Las Vegas. ``You will see people in involuntary servitude for years, trying to pay off their real estate debts.'' The Californians most obviously at risk are homeowners who have refinanced to patch up faltering finances or, worse, to forestall a foreclosure. Also at risk are hordes of recent home buyers who stretched to buy homes using interest-only loans, ``option ARMs'' and other exotic mortgages that they would like to refinance before low initial monthly payments vault home household loan mortgage refinancing Even the affluent are vulnerable if they lack enough insurance to cover their losses if their homes were severely damaged by home household loan mortgage refinancing earthquake, mudslide or other natural disaster -- and they try to hand the keys back to the lender. As things now stand, lenders rarely seek judicial foreclosures in cases involving residential real estate. The obvious practical reason is that lenders typically foreclose as a last resort, and homeowners are broke and have little home household loan mortgage refinancing of every repaying the loan. And thanks to double-digit increases in real estate values, homes generally fetch enough to cover the mortgage anyway. In addition, lenders are hesitant to seek judicial foreclosures because they're time-consuming, expensive and ultimately leave the outcome in the hands of a judge. package loan participation mortgage reverse mortgage repayment mortgage But that reluctance could wane if home values tank and foreclosures rise, some experts say. ``If property home household loan mortgage refinancing go down by 20 percent, then home household loan mortgage refinancing would be thinking about this,'' UCLA's Nelson said. Lenders are likely to find that the threat of a judicial foreclosure is more powerful under the tighter bankruptcy rules that take effect today. Under the previous rules, borrowers could threaten to file for Chapter 7 bankruptcy protection and erase a deficiency along with home household loan mortgage refinancing bills and other unsecured debt. That bargaining chip soon will be less effective, however, because the new bankruptcy rules will make it much harder to qualify for Chapter 7 protection. The bankruptcy law changes will force more debtors to seek Chapter 13 protection and repay at |
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