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The term foreclosure means that when a loan is not paid on time, the lender has the authority to take action on the collateral assets the borrower listed to secure the loan.
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What term is defined as a legal process in which mortgaged is sold to pay the loan of the defaulting borrower?
Foreclosure
Which term is defined as a legal process in which mortaged property is sold to pay the loan of the defaulting borrower?
foreclosure
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
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.
What is the difference between a sheriff sale and a foreclosure?
Generally the term foreclosure is used at the start of the process. The foreclosure occurs when a person who does not make payments is kicked out of the house. Then the property is fore closed. In some places the bank can sell foreclosed properties. In other places, it goes on the block for a sheriff's sale.
What does 'case disposed' mean in regard to a foreclosure case?
It means that the legal aspect of the foreclosure has been finished.
What is personal deficiency judgment foreclosure?
This is when you receive a judgment for a foreclosure because you do not have the money to pay your mortgage. Most foreclosures are a result of this, this is just a more specific term pertaining to this.
What does dismissed without prejudice mean when you are in foreclosure?
dimiss the foreclosure action without prejudice and release the lis pendens! what does this means please!
What does decree nisi mean in English?
Decree nisi is a legal term with the meaning that until a particular condition is met, the court order does not carry any force. This is a term commonly used in the common law ruling of foreclosure and mortgage cases.
What term is defined as a legal process in which mortgaged is sold to pay the loan of the defaulting borrower?
Foreclosure
Is my 401k and IRA protected from foreclosure?
If by "foreclosure" you mean that the mortgage lender is taking your home back, yes they are prtected. However, if you really mean BANKRUPTCY, no, they are NOT protected, since they are assets you can use to reimburse your creditors.
Which term is defined as a legal process in which mortaged property is sold to pay the loan of the defaulting borrower?
foreclosure
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
What is a foreclosure dismissal?
Foreclosure dismissal is a simple foreclosure challenge that can be filed to the foreclosure complaint even without an attorney.Added: A foreclosure dismissal is a court order dismissing a foreclosure action.
What does order to docket mean in court?
Is the initial documents filed with courts to initiate a foreclosure in Maryland. It's equivalent to a Notice of Default which too is filed to initial foreclosure.
What does 'writ' mean?
Writ stayed means that the court has decided to discontinue a specific action. In foreclosure proceedings writ stayed means the court has stopped the foreclosure process.
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.
