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Can you buy a timeshare for a condo while still in a Chapter 13 or do you need the trustee's permission to do so?
Wiki User
∙ 8y ago
No. All financial transactions that are not considered necessities have to have the trustee's agreement in advance.
Wiki User
∙ 8y ago
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What is involved when inquiring about a condo loan?
When inquiring about a condo loan a person needs to know what they want to spend, what features they desire in the condo and where they want the condo to be located.
Can a condo be a first time buyers home?
Yes.
What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
If your condo goes into foreclosure do you still owe the condo fees?
Yes, until the bank is the owner. The fact you're in foreclosure doesn't change the fact utilities need to be paid as well as your staff. It's not only the bank that can put you into foreclosure; even your HOA/condo association can force the sale of your home due to delinquency.
What happens to the first mortgage on a condo in Florida when the condominium association forecloses for unpaid association fees?
For the condo association foreclosure to be valid, the bank who holds the mortgage must be notified of the foreclosure action, and the mortgage company has the opportunity to do a couple of things: They can pay the delinquent condo fees themselves, to protect their own interests, and force the borrower to pay them back. If the borrower is unable to repay the condo fees, it could put the mortgage payments in default, and be grounds for the lender to begin foreclosure proceedings. If the borrower is behind in their mortgage payments, the bank can join in the condo association's foreclosure action themselves. This is actually a great assistance to the bank, as it saves them the time and trouble of initiating the lawsuit - they just get to piggy-back on the condo association's foreclosure, which makes the foreclosure sale happen that much sooner. And since the bank's lien has priority over the condo association, the bank would be the one to get paid off first if the property got sold to a third party at the foreclosure sale, or if nobody bid on the property, they would be the ones who would become owners of the condo. If, for whatever reason, despite getting proper notice, the bank does nothing and the condo association forecloses on the property. The first mortgage holder has a lien that always survives the condo association's foreclosure. In fact, second mortgages are usually superior to the condo association's lien for unpaid maintenance fees. Usually the condo association gets stuck with owning a property with at least one outstanding mortgage with an outstanding mortgage balance greater than the actual value of the property because of the decline in real estate value. Most condo associations allow the first mortgage holder to foreclose on the property after their foreclosure is done. The main point is that in Florida a condo association foreclosure has no effect on the first mortgage.
How old do you have to be to buy a timeshare?
25! I am 20 and I own a condo and they dont let me buy a freaking time share because of my age!
What is Bankruptcy Chapter 4?
What qualify u for bankruptcy
How soon after Chapter 7 bankruptcy can you have the title to a house or condo given to you?
Why should you get the title? If the debt is secured by the condo or house, you cannot get a discharge of that debt unless you surrender the asset in the chapter 7.
In the US how soon after chapter 13 can you have your name on a condo?
Your bankruptcy attorney can answer your question.
What are the Advantages of timesharing system?
A timeshare is a system that allows families to use a condo at specific times of the year. Each family pays toward the cost of the condo, and each group gets to use it whenever it is unoccupied. This allows people to afford a vacation property without taking on the entire cost.
What is the Exact time to buy or sell the share?
You might be asking if when is the right time to sell your timeshare. Deciding on what is the best sales method for your timeshare unit is probably the most vital decision you will have to do. There are several options available to you about the actual sale of your timeshare. You simply have to do your assignment and identify how much your time and energy do you want to devote in this endeavor. Like in condo selling, looking for the right real estate broker makes all the difference. Search for real estate companies that are active in similar community as your timeshare. This is especially essential, since real estate brokers who give much attention on disposing timeshares usually have significant expertise in this field of the real estate sector. They should learn how to market your timeshare and know the kind of buyer who will be interested in buying a timeshare.
Purchased a condo conversion the contract sAID the seller will reDO the condo and supply all appliances seller WENT chapter 11 before recontructing my condo it cost me 12500 HOW TO GET REIMBURSED?
Contact an attorney immediately, you have little recourse however you may place a claim for future possibilities.
Key Timeshare Considerations?
People who want to invest in a timeshare should do some homework before signing an agreement. No teacher ever gave an assignment this much fun, however. The homework for buying a timeshare generally starts by vacationing in one of the timeshare condos or as close by as possible.The Try-outBefore buying a timeshare, it's best to try it on for size. Rent for a weekend or stay a week, if possible. Determine how well you as a couple or family can fit into the timeshare condo. Is it too small? Does the porch or patio provide extra living space or is it just for show? Asking questions and evaluating the construction of the unit helps to focus on what is important.Does the condo complex offer amenities? Most travelers expect a minimum of a pool and a hot tub. Others expect workout rooms or game rooms for the kids.What other fees are involved? Many timeshares offer golf but the greens fees are not pro-rated just because you are staying in the golf timeshare condo complex.What is the cost of bike rentals? Boat rentals? If you have a favorite activity, it pays to find out the cost of these activities at or near the timeshare. If these are high, you may want to consider that fact as part of the price of acquiring that timeshare.The AreaIf the weather is bad, what else is there to do? Some beach areas are near urban centers which provide many outlets for shopping, recreation and dining. Others offer few cultural activities outside of bars and cafes. What is available for that inevitable day when rain, sunburn or boredom drives you from the beach?If the timeshare is in the mountains, similar questions apply. Will you feel isolated if the weather is bad? Will snow or bad driving conditions keep you from using a mountain timeshare? Is the area overly commercial or too quiet and remote?Schedule and DistanceBefore signing, be very clear on the schedule. You don't want a timeshare that you can't use because the dates are never convenient. Also, consider: will the round trip distance be a problem? The cost of driving or flying must be manageable on a regular basis in order for you to enjoy the timeshare.A timeshare can be a great value if you do some homework first.
On the sims2 how do you throw a wedding party?
People who want to invest in a timeshare should do some homework before signing an agreement. No teacher ever gave an assignment this much fun, however. The homework for buying a timeshare generally starts by vacationing in one of the timeshare condos or as close by as possible.The Try-outBefore buying a timeshare, it's best to try it on for size. Rent for a weekend or stay a week, if possible. Determine how well you as a couple or family can fit into the timeshare condo. Is it too small? Does the porch or patio provide extra living space or is it just for show? Asking questions and evaluating the construction of the unit helps to focus on what is important.Does the condo complex offer amenities? Most travelers expect a minimum of a pool and a hot tub. Others expect workout rooms or game rooms for the kids.What other fees are involved? Many timeshares offer golf but the greens fees are not pro-rated just because you are staying in the golf timeshare condo complex.What is the cost of bike rentals? Boat rentals? If you have a favorite activity, it pays to find out the cost of these activities at or near the timeshare. If these are high, you may want to consider that fact as part of the price of acquiring that timeshare.The AreaIf the weather is bad, what else is there to do? Some beach areas are near urban centers which provide many outlets for shopping, recreation and dining. Others offer few cultural activities outside of bars and cafes. What is available for that inevitable day when rain, sunburn or boredom drives you from the beach?If the timeshare is in the mountains, similar questions apply. Will you feel isolated if the weather is bad? Will snow or bad driving conditions keep you from using a mountain timeshare? Is the area overly commercial or too quiet and remote?Schedule and DistanceBefore signing, be very clear on the schedule. You don't want a timeshare that you can't use because the dates are never convenient. Also, consider: will the round trip distance be a problem? The cost of driving or flying must be manageable on a regular basis in order for you to enjoy the timeshare.A timeshare can be a great value if you do some homework first.
How do you find out if your landlord included the condo in which she is renting to me in her Chapter 7?
The local bankruptcy court may have public documents that you can review, if you cannot get the answer you want from the landlord.
Can a 16 and 17 year old live in condo together in Canada?
In Canada, the legal age to enter into a contract, such as a lease for a condo, is 18. Minors under 18 would require a co-signer who is of legal age to be responsible for the lease agreement. Additionally, it is important to check with the condo association or landlord to confirm their specific age requirements for tenants.
Do in condo washing machines overload condo plumbing?
Not if the condo was built to code.
