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Can a lender put a lien on your current house for the old house if the old house is foreclosed?
NgocDiep
Yes. Most homes that go into foreclosure have liens against the owners.
Yes. Most homes that go into foreclosure have liens against the owners.
Yes. Most homes that go into foreclosure have liens against the owners.
Yes. Most homes that go into foreclosure have liens against the owners.
Wiki User
∙ 11y ago
Wiki User
∙ 16y agoIn many states, the investor on the home that was foreclosed may ask a court to place a lien on the second home if they took a loss on the foreclosed home.
Wiki User
∙ 16y agoNo. Not unless the lender sues you for the deficiency and wins a judgment in their favor.
Wiki User
∙ 11y agoYes. Most homes that go into foreclosure have liens against the owners.
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How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
If your house is foreclosed on what happens if you get a personal lender and get a new house Can they put a lien on the new house?
Check the laws in your state, but NO, they cannot. Your old house secures the mortgage on THAT house. Nothing else.
Does a HOA lien get wiped out if condo is foreclosed by mortgage lender in California?
Liens are not 'wiped out': liens are paid. When the foreclosed property is sold, the lien may be paid from the proceeds, depending on its priority and the amount earned from the sale.
Is it possible to refinance a house with a lien attached?
Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.Generally the lender will require that the lien be paid off with the proceeds of the loan.
What happens to second mortgage if first mortgage is foreclosed?
If the first mortgage is foreclosed the second mortgage lien gets wiped off the property by the foreclosure so the property can be sold free and clear of the second mortgage. However, the mortgagor still owes the debt to the lender and the lender can pursue collection of the amount due by a civil lawsuit.
Why is your second mortgage in collection after the house was foreclosed?
The question might need to be clarified to really get to the heart of the matter.A property is offered as security on a loan. If a loan goes into default the lender takes possession by foreclosure. If the foreclosing lender is the lender who is in first place (the senior lender), any lien that was recorded after the first mortgage is wiped out as a lien against the property.The proceeds from the foreclosure sale are used to satisfy the senior lender first. Any excess will go to pay off the junior mortgagee but in these time there is more often a deficiency. In most jurisdictions, the junior mortgagee can still pursue the mortgagor for payment of that loan even though their lien on the real estate was extinguished.
If you purchase a house that was foreclosed on do you have to pay the back HOA dues?
The current owner will inform you as to the monies due to the HOA at the time of sale. If the HOA has filed a proper lien on the title to cover past assessments, then yes, they are paid as part of the sale.
What rights are available to the person that has a lien second to the bank on a property that has already sold at a foreclosure sale?
Hate to tell you, but in WA, none. The senior lien has already foreclosed, any any junior lien (including deed of trust or mortgage) was foreclosed with it.
Can a lender repo your vehicle if they are not the lienholder if they are not the lienholder on title A different lender is the actual lienholder Any recourse against me by the second lender?
Confusing, but there are a number of scenarios where this might be possible. First, if the lender is the lender on the vehicle, the ARE a lien holder. They may not have "perfected" the lien, that is registered it with the state, but that is an easy matter for them to rectify. Second, if they are not the lender on the vehicle, and there is no other lien holder, provided they have a judgment, the court may order the surrender or sale of other property to satisfy the debt and the judgment. Third, if you have two vehicles with the same lender, and you are defaulted on one but current on the other, the lender may choose to do what is called a"converson of collateral." If so, then the lender may repossess the vehicle you are current on due to the default on the other. They will take which ever vehicle is the esiest to recover in these situations.
During foreclosure can private possessions be taken as collateral?
No only the house is the item that is being foreclosed on unless it is a federal tax lien or certain other foreclosures.
How does a lien on your house by a credit card company effect you?
When you have a lien it shows on your credit rating, this is because money is owed to someone and not paid, also if you want to sell your house the lien would have to be paid off first, it also remains on your credit rating for 7 years.
Is a lender and lien holder the same how can I get vehilce from the second lien holder?
No. In the case of "brokered" loans especially the lien holder is the investor that holds the note. The lender is the broker that helped you secure your financing.
