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As the high bidder or Buyer of a Master in Equity's foreclosure auction sale and I get a Masters Deed what if any of the old liabilities such as mortgages liens etc stay with my acquired property?
Wiki User
∙ 16y ago
Any lien that appeared prior to the mortgage that was foreclosed.
Wiki User
∙ 16y ago
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What happens during a property foreclosure?
During a property foreclosure, the lender sells one's mortgages house and use the sales proceeds to pay off the outstanding balance on the mortgaged loan.
If you have two mortgages can you pay one and not the other?
There will be serious consequences. The lender you don't pay has the right to take possession of the property by foreclosure.
Can the bank make you sell your personal belongings when a house goes into forcelosure with a reverse mortgage and no will?
Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.Generally, no. Reverse mortgages do no require mortgage payments so foreclosures are rare. When the borrower dies the heirs have a generous time period to sell the property. If they don't sell it, or if the property is worth less than the mortgage, the lender can foreclose and only the mortgaged property is vulnerable to the foreclosure, not any other property in the estate.
What is the difference between a HUD home and a foreclosure?
A HUD home is a 1 to 4 unit residential property acquired by HUD as a result of a foreclosure action on an FHA-insured mortgage. HUD becomes the property owner and offers it for sale to recover the loss on the foreclosure claim. All HUD homes are foreclosures but not all foreclosures are HUD.
Is the property at 119 amherst lane in Sebastian Florida in foreclosure?
Is this property in pre-foreclosure or just foreclosure May I please get all the details on this property
My husband purchased a home then added my name to the deed. Now we are in the process of foreclosing. What happens to my undivided half interest?
If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject to the mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.If your husband mortgaged his property prior to adding your name to the deed then you acquired your interest subject tothe mortgage and the bank can take possession of the property by foreclosure. Your "interest" was encumbered by the mortgage. If you want to keep it then you must pay the mortgage.
What are the consequences of friendly foreclosure of an investment property?
Foreclosure results in the buyer losing the property.
How do you obtain property by aquisition?
Acquisition is the act of procuring something. Generally, real property is acquired by virtue of an acquisition deed. However, acquisition of real property can occur by other means such as foreclosure, taking, court order and inheritance.
What past encumberances can exist when buying a foreclosure home etc other debts such as property taxes?
property taxes, lawsuits, senior liens (that were recorded prior to the foreclosing mortgage) such as mortgages, attachments, executions, income tax liens, probate problems
What will happen if you stop making your mortgage payments?
The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.The lender will take possession of your property by foreclosure and sell it to a new owner.
How can a person or group contest a foreclosure of their property?
A person or a group can contest the foreclosure of a piece of property by contacting an attorney. This is the best way to get information about property.
How Foreclosure works?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
