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Can a self managed HOA seize a car owned by a unitowner to pay off the 3500 dollars owed the HOA in delinquent dues as the unit is in foreclosure by the mortgage holder?
Wiki User
∙ 15y ago
If the association wants to be accused of criminal theft, sure. To take the car the legal way, first, the association must file a lien against the delinquent unit. If the lien remains unpaid, then the association can file a lawsuit against the unitowner, unit, bank (as lienholder), and any subsequent purchaser of the unit for foreclosure of the lien. Fortunately for you, HOA dues are superior to any mortgage, lien, or deed of trust against the unit, so no matter what, the association will get paid. In the unlikely event the unit would not sell at auction for the association's foreclosure judgment amount, including attorney fees and court costs, the association could execute on the vehicle of the debtor/unitowner. I suggest consulting with a real estate attorney right away (see one who gives free consultations).
Wiki User
∙ 15y ago
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How does a homeowner who does NOT want to avoid foreclosure get lender to start foreclosure before delinquent?
Foreclosure is a legal process that can cost the lender tens of thousands of dollars, so they will not be filing foreclosure against you until they absolutely have to.No matter what your situation is, you do want to avoid foreclosure! Even if you don't want to keep your home, there are better ways to go about it than letting the bank foreclose on you.Just so you understand, foreclosure is not a process that just allows you to walk away. It will ruin your credit for years, and cost quite a bit of money. In most cases, you will end up owing your lender for all the fees and the remainder of your mortgage, after your home is sold at sheriff's sale. If you no longer want the property, and would like for the lender to take it back; consider a Deed-in-lieu of Foreclosure. This is an agreement to deed the property to the lender. When you speak to a CPA, the lender or a housing counselor, be sure to ask about the tax and credit implications of doing so.
Can a car be repossessed if the note is fifty dollars delinquent?
Unfortunately, yes. You have to talk to the lender.
What is a mortgage calculator?
A mortgage calculator is a calculator with which you use to calculate your monthly mortgage payment. For example, your home mortgage amount is 300,000 dollars, your mortgage term is 30 years and the annual interest rate is 6%. You would like to find out how much you have to pay per month. In this case, you can use the help of a mortgage calculator, and it tells you that you have to pay 1798.65 dollars per month.
What if your husband died now mortgage company in Georgia has changed mortgage to your name even though you are not on the warranty deed at the courthouse and now going into foreclosure Help?
Help with what, exactly? I'm honestly not sure what you expected to happen. Did you think the mortgage company was just going to say "shoot, the guy on the mortgage died, I guess we're just out several hundred thousand dollars"? No. They're legally entitled to seek to recover the balance due on the mortgage from your husband's estate (which may effectively be "you"). The first step would be to contact the mortgage company and find out what you need to do to get out of foreclosure. If the house is actually foreclosed upon, you're out on the street in pretty short order (usually you have three days after the property is sold at auction before the new owner can send the sherriff in to forcibly evict you), so you'll want to do this RIGHT NOW to try to stop things from going that far. If the mortgage company doesn't want to work with you, then bankruptcy is one option. That would put a hold on any foreclosure proceedings until the bankruptcy is resolved. You'll need an attorney for this, and the attorney will be able to explain the details of exactly how it works.
1950s US average mortgage payment?
seventy five dollars
What if the bank sells the house for more than you owe on the foreclosure?
If the bank sells the house for more than you owe. First, if you owe any other mortgages they will get paid first. after all of the liens of your property have been paid, the borrower(you) receives the rest. example you owe 100,000 on mortgage 20,000 on equity line the house sells for 150,000 mortgage and equity line get paid off. and you receive the difference of 30,000 dollars
What can cause foreclosure?
The foreclosure process allows a lender to take back ownership of a property from a borrower. Foreclosure occurs when the borrower is no longer making the mortgage loan payments on time and in full. There are other factors that may cause a family to suffer from one of the many life changing events, such as:Divorce is a life changing issue. When there is a split in a household, this can cause people to lose their home in foreclosure. Divorce is definitely a reality of our society today.Unexpected illnesses lead to a excess of uninvited bills. Many people can't afford these expenses or do not have the insurance coverage to save them. Nobody plans to foreclose on their home, just like they do not expect to pay thousands of dollars in hospital bills.
Can you get a mortgage with a FICO score of 650 an income of 75400 dollars a year?
Yes, you can get a mortgage. The amount of the mortgage will depend on the overall financial picture of the property and what you can show to a lender that demonstrates the monthly payment you can afford.
What company took over mortgage payments from Countrywide?
Bank of America too over payments from Countrywide after the mortgage fraud by Countrywide. The mortgage settlement should send billions of dollars to struggling homeowners.
How much does a mortgage processor make?
A mortgage processor will average around 36,000 dollars a year. Sometimes they receive a bonus based on how many loans they process.
What could the fine cost be for failure to yield with an accident that was left delinquent for 8 years in Jefferson Parish in Louisiana?
23 dollars and 34 cent.
You own a home and oue 104000 dollars on the property can you carry it and sell it to a buyer?
I think what your talking about is called a wrap around mortgage and you would have to check with your mortgage bank to see if they do this.. Not all mortgage lenders do these types of loans.
