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Can a bank put a lien on a new home for the amount owed on a different foreclosed home?
Wiki User
∙ 14y ago
Yours is a tricky question. Generally, a lender has only rights in the property granted in the mortgage. However, in some jurisdictions and in certain situations, a lender who is owed money can seek a judgment in court to recover money owed. That separate judicial proceeding is outside of the foreclosure proceeding and is generally in a lower court. Lenders may take advantage of that availability to recover deficiencies resulting from decreasing property values affecting foreclosure sales. You should seek the advice of an attorney in your area.
Wiki User
∙ 14y ago
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When i buy a foreclosed home what am I paying for?
See, when you talk about foreclosed home, then let me tell you that there are 3 categories in which foreclosed homeprocess generally falls 1.Pre-foreclosure 2.Auction 3.Bank OwnedHence, it certainly depends upon the category in which the foreclosed home process is falling, that how much amount you have to pay.In Auction process, you have to bid for the home and if you place the highest bid then home is yours.In Bank or NBFC owned, the Bank like IDBI, ICICI / NBFC like Bajaj Finserv list the home with a real estate agent in the local MLS and you have to contact that person if you want to buy the home. Here you can negotiate on the price of home.
Were being foreclosed on will the bank come after us if you take out the cupboards and vanities?
were being foreclosed on our home. will the credit union come after us if we take out the cupboards and vanities?
Can banks come after home owners after foreclosure?
Yes, they can but do not always do so. When a home is foreclosed, the bank tries to resell it. They can then come after the home owners for the difference in the amount you owed and the amount they sold it for. Sometimes though they never even go after hte home owner and just write off the debt instead.
When the bank takes over a foreclosed home how long can the tenants or renters live there?
From what I understand they have to move immediately .
Will the excess amount in foreclosing real estate mortgage given to th mortgage or not?
I'm not sure this question was complete, but the answer is that any excess equity after a property is foreclosed will go to the prior homeowner. In other words, if a home is foreclosed and the home sells at auction for more than was owed to the bank, the excess will go to the homeowner who was foreclosed upon. Keep in mind many fees and charges may be attached to a foreclosure, so the equity may be limited.
In default 6000 on a home loan can it be foreclosed?
A home can be foreclosed on if the terms of the loan are violated. The amount does not matter.
When i buy a foreclosed home what am I paying for?
See, when you talk about foreclosed home, then let me tell you that there are 3 categories in which foreclosed homeprocess generally falls 1.Pre-foreclosure 2.Auction 3.Bank OwnedHence, it certainly depends upon the category in which the foreclosed home process is falling, that how much amount you have to pay.In Auction process, you have to bid for the home and if you place the highest bid then home is yours.In Bank or NBFC owned, the Bank like IDBI, ICICI / NBFC like Bajaj Finserv list the home with a real estate agent in the local MLS and you have to contact that person if you want to buy the home. Here you can negotiate on the price of home.
Were being foreclosed on will the bank come after us if you take out the cupboards and vanities?
were being foreclosed on our home. will the credit union come after us if we take out the cupboards and vanities?
When a home is foreclosed in Tennessee are wages garnished?
Yes, when a home is foreclosed on in Tennessee and there is a deficiency between the amount collected and amount owed, your wages can be garnished to pay the difference. You may be able to file an exemption or file for bankruptcy to avoid this.
Can banks come after home owners after foreclosure?
Yes, they can but do not always do so. When a home is foreclosed, the bank tries to resell it. They can then come after the home owners for the difference in the amount you owed and the amount they sold it for. Sometimes though they never even go after hte home owner and just write off the debt instead.
When the bank takes over a foreclosed home how long can the tenants or renters live there?
From what I understand they have to move immediately .
How long can you stay in your foreclosed home in Rhode Island?
In Rhode Island, after a foreclosure sale, the new owner typically needs to provide the former homeowner with a written demand to vacate. If the homeowner doesn't leave, the new owner can file for an eviction, which can take a few weeks to a few months to complete depending on the court's schedule. It's best to consult with a legal professional for guidance on the specifics of your situation.
Where can I find the home listings for the bank foreclosed homes in North Carolina?
Your local realtors usually can acquire a list for you.
Will the excess amount in foreclosing real estate mortgage given to th mortgage or not?
I'm not sure this question was complete, but the answer is that any excess equity after a property is foreclosed will go to the prior homeowner. In other words, if a home is foreclosed and the home sells at auction for more than was owed to the bank, the excess will go to the homeowner who was foreclosed upon. Keep in mind many fees and charges may be attached to a foreclosure, so the equity may be limited.
What are some benefits of buying a foreclosed home?
There are a few benefits of buying a foreclosed home. Foreclosed homes are generally cheaper than non-foreclosed homes. One can also negotiated for a better deal with a foreclosed home because banks want to sell the home quickly.
What happens when your home forecloses and the lender sells it for less than what you owe?
You still owe the balance (the amount you owed minus the amount the lender sold the foreclosed home for).
Are foreclosure lists easy to understand?
A list of foreclosed homes is easy to understand. It will provide you the address and contact information for homes that have been foreclosed on. If the homes are for sale, the list will indicate what the bank is asking for the home.
