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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?
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∙ 6y ago
Foreclosure
Wiki User
∙ 6y ago
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Which term is defined as legal process in which mortgaged property is sold to pay the loan of the defaulting borrower?
Auction.
Which term is defined as a legal process in which mortaged property is sold to pay the loan of the defaulting borrower?
foreclosure
Which term is defined as a legal process in which mortgaged property is sold to pay the loan of the defaulting borrower?
Armadillos are eaten by coyotes, bobcats, cougars, wolves, raccoonsand bears. Birds of prey such as eagles and hawks also eatarmadillos. Even people eat armadillos. In Central and SouthAmerica, their meat is sometimes used as a substitute for pork.
Can you go to jail if you default on a payday loan in Kentucky?
No, one cannot go to jail by defaulting on any loan. One may go to jail based on one of the two (2) results, however, of defaulting on a loan: * If the court decides that check fraud has been committed during the course of the civil case, after the decision is made in the civil case the judge may pass on the particulars to the prosecutor for criminal prosecution. * If the borrower has a history of defaulting on loans, a similar process may occur which lands the borrower in jail.
If defaulting on a mortgage how long will it take the mortgage compnay to evict?
Foreclosure and then eviction depends on which state you are in. Usually the process will take 90 days which will give the borrower some time to act on the mortgage. Some resort to a loan modification company like http://loan--modifications.com. Find out from your state laws the implementing period to be sure.
Which term is defined as legal process in which mortgaged property is sold to pay the loan of the defaulting borrower?
Auction.
Which term is defined as a legal process in which mortaged property is sold to pay the loan of the defaulting borrower?
foreclosure
Which term is defined as a legal process in which mortgaged property is sold to pay the loan of the defaulting borrower?
Armadillos are eaten by coyotes, bobcats, cougars, wolves, raccoonsand bears. Birds of prey such as eagles and hawks also eatarmadillos. Even people eat armadillos. In Central and SouthAmerica, their meat is sometimes used as a substitute for pork.
Can you go to jail if you default on a payday loan in Kentucky?
No, one cannot go to jail by defaulting on any loan. One may go to jail based on one of the two (2) results, however, of defaulting on a loan: * If the court decides that check fraud has been committed during the course of the civil case, after the decision is made in the civil case the judge may pass on the particulars to the prosecutor for criminal prosecution. * If the borrower has a history of defaulting on loans, a similar process may occur which lands the borrower in jail.
If defaulting on a mortgage how long will it take the mortgage compnay to evict?
Foreclosure and then eviction depends on which state you are in. Usually the process will take 90 days which will give the borrower some time to act on the mortgage. Some resort to a loan modification company like http://loan--modifications.com. Find out from your state laws the implementing period to be sure.
Can a co-borrower get off the loan?
The only way for a co-borrower to get off a loan is to refinance that loan, and do not include yourself in the refinance process.
What are the processes associated with bank lending?
At a very high level, the following five (5) processes are associated with making a loan: * Application Process (prospective borrower fills out application and makes available all information necessary to underwrite the loan) * Underwriting Process (the lender takes consumer-provided and externally-supplied data in order to make a lending decision) * Funding Process (the lender and borrower sign the loan contract/note and the funds associated with the loan are released to the borrower) * Servicing Process (the lender provides periodic statements and information to the borrower and the borrower makes timely periodic payments on the loan) * Payoff Process (the borrower makes the last/a final payment on the loan and the lender closes the contract)
Who can start foreclosure?
"Foreclosure can be simply explained as follows: Suppose that you, as a loan borrower, failed to make a couple of your payments in time, so you fall behind the payment schedule. In this case, depending on the terms and conditions of your mortgage loan agreement, the lender has the right to start a legal process called "foreclosure" which may result in the termination of your rights to own the mortgaged property."
What term is defined as the process of growing trees for business?
Silviculture is defined as the process of growing trees for business.
What term is defined as the process of growing trees of business?
Silviculture is defined as the process of growing trees for business.
Defaulting on student loan?
This is a very unfortunate situation - student loans are almost impossible to discharge in a bankruptcy situation and the negative impact on your credit report will be felt for years. If you have not already been listed as defaulting, contact your lender IMMEDIATELY. If your loans are held by the US Department of Education (ie, Direct Loans, PLUS loans, Stafford loans, etc.), you can file for a forebearance or deferment to help get you through a tough financial situation. These procedures do not count against your credit score, although the loans will be accruing interest even though you are not making payments. If your loans are through a private bank, contact that bank IMMEDIATELY. While the private bank is under no obligation to help you, they may still be willing to work with you to permanently modify the terms of your loan. If someone co-signed your loans with you, you need to let them know tonight for two reasons. First, if you default on the loan, their credit scores will be affected because they will be held equally responsible for paying the loan on time in full. Second, because this person is a co-signer, he/she hopefully has the financial wherewithall to make the payments for you so that you don't default.
What is Mortgaged property?
Mortgaged property is real property that has been used as collateral for a debt. The mortgage lien remains on the property until the debt is paid. Generally the legal agreement signed by the mortgagor gives the lender the right to take possession of the property and sell it if the loan is not paid. That process is called a foreclosure.
