What exactly happens if you default on an FHA loan?

There has been a lot of talk in the news about the student loan crisis. The statistics show that 10% of students who go to public colleges default on their student loans and 25% of students who go to for profit schools. If all these students defaulted...

I own a business in Texas and I can no longer afford to make the monthly loan payments. The loan was issued by a local bank and its a SBA loan. I am one of four people who is a "guarantor". What does this all mean? Can the bank come after my...

This will be our first ever default and our mortgage company refuses to work with us. Every time we call to work things out they are very rude. We plan to pay the total amount owed four days after our default date, and can't come up with the money until...

My (then 18 yr old) daughter bought a car from a dealership 5 years ago. Within the first year the car stopped running and so she stopped making payments. Come to find out, the dealership falsified her income and she never should have qualififed for...

Do they take my house since I have an equity loan with them also?

The loan was defaulted over a year ago but the creditor has not picked it up. Can it be relicensed (tags expired) and driven? Don't want to do anything illegal. Have tried to contact the original creditor but no response.

I live in Missouri and I bought my home 5 years ago. This April, I refinanced the house through FHA secure to get rid of the ARM loan I had. Since then, I am going through a divorce (house was mine before I met him, so he's not on the loan), and my son...