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If they win a suit, they can get a judgement and levy any NON exempt property only. (property not normally exempted in a bk) Whether they get a judgement and do anything further or not all depends on if the amount awarded is worth it. They can't take your home, however can put a lien on it that must be satisfied when it sells for the amt of judgement, they also cannot levy your primary car, since you are exempt on one. If you own extra assets and they find them, it is possible to levy them then they can sold to satisfy the judgement. If it is something dischargable, bk, makes collection efforts stop, and throws out the judgement as well but you will need an attorney if it gets to the point of liens on real property etc. Be careful, the next step is usually a levy on your bank account and they clean it out without warning.
They run your credit, find a bill that's current and get account info from that creditor. Then they serve the bank when they have your acct no. and empty it out.
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∙ 12y ago
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Can a bank take property they have no interest in?
Yes, a bank can take property that they have no interest in. This usually happens when a person has not paid their loan, and now has no right to the property.
Right to take one person's property if the property will then be used for the good of many?
Eminent domain
If a person jumps bail can the court take your property?
If you put the property up to secure the bail money, yes, the bail provider can take it with a court order.
How does a person qualify for a second mortgage?
If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.If they have enough equity in the property and have enough income to take on more debt.
Can a spouse take a home equity loan in one spouse's name?
A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.A mortgage must be signed by all the owners of the property because if the mortgage isn't paid the lender must be able to take possession of the property by foreclosure. If only one person signed the lender can only take that person's interest and not the interest of the co-owner who didn't sign the mortgage.
Does a cosigner on a mortgage mean that person is an owner of the property?
Yes it does, Only after you refinance the property may you take the cosigners name of the mortgage loan.
Can the repo man cut locks on gates and take cars?
NO THIS IS ILLEGAL! They cannot go inside your house, garage, or locked private property
What is a property management class?
A property management class is a class that a person may take to learn how to be qualified to properly maintain property such as real estate, landscape, and other establishments. It is important to take if you deem it necessary in your current goals.
Can the law kick your door in over civil matter?
In certain cases yes they can forcefully gain access to your home/property... An Example would be that person (A) is sued in civil court for the return of property belonging to person (B) and the court orders person (A) to return said property by a certain date but person (A) fails to do so...The court can then have the police go to the residence of person (A) and take possession of the listed property..
What is a trespass warrant?
If a person has trespassed onto a property when they have been asked not to, the owner of the property can take out a trespass warrant. This will legally keep them off the property and legal action can be taken if they enter.
Can one person remortgage when two people are on the deed?
No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.No. All the owners of the property must sign the mortgage so the lender can take possession of the property in the case of a default.
Why does the REPO man take away cars?
Typically, because the person making payments failed to uphold their end of the deal. The lienholder is the rightful owner of the car until the loan for the vehicle is paid in full. Because of this, they have a right to collect their property when a loan goes into default.
