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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.
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Which banks offer good foreclosure refinance services?
There are many different banks out there. The one with the best foreclosure refinance services is Bank of America. If you contact Bank of America and explain your situation, they will try and help you find an alternative. It depends on if you want to stay in your home, or if your willing to sell it.
Where can one get foreclosure help?
Many online websites offer help for foreclosing homes. The Hud website gives tips on how one can survive from a foreclosure. The Obama Administration established many programs to help home owners with foreclosure like the MHA program.
What is the Home Owners Loan Corporation for?
The Home Owners Loan Corporation is a U.S. government program designed to refinance home mortgages to help prevent foreclosure of homes. Established in 1933 during the New Deal, the program became a small profit organization in 1951.
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
Can you rent out your home while home is in foreclosure?
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
Is there a time limit for banks to foreclose on your home after filing bankruptcy been discharged?
The bankruptcy law does not set a time limit for banks to foreclose on your home after filing bankruptcy. In fact, banks are prevented from foreclosing or continuing a foreclosure already in process upon the filing of a bankruptcy without first obtaining an order from the bankruptcy court allowing it to foreclose or continue a foreclosure already commenced.
Which banks offer good foreclosure refinance services?
There are many different banks out there. The one with the best foreclosure refinance services is Bank of America. If you contact Bank of America and explain your situation, they will try and help you find an alternative. It depends on if you want to stay in your home, or if your willing to sell it.
Where can one get foreclosure help?
Many online websites offer help for foreclosing homes. The Hud website gives tips on how one can survive from a foreclosure. The Obama Administration established many programs to help home owners with foreclosure like the MHA program.
Can a lender put a lien on your current house for the old house if the old house is foreclosed?
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.
What is the Home Owners Loan Corporation for?
The Home Owners Loan Corporation is a U.S. government program designed to refinance home mortgages to help prevent foreclosure of homes. Established in 1933 during the New Deal, the program became a small profit organization in 1951.
What is first preforeclosure or foreclosure?
Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.
Where can I find homes for sale by owners?
try www.owners.com it is a website based entirely on houses for sale by owners and is reliable and trusted by a lot of banks and companies and is directed by home owners self-directed and looking to buy or sell a home without an agent.
If the deed of the house is in your husbands and your name and you are paying the original owners mortgage what are your legal rights to the home?
You and your husband are the legal owners of the property but it is subject to the mortgage. If you default on the mortgage payments the bank can take possession of the property by foreclosure.
Can you rent out your home while home is in foreclosure?
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
When do you have to move out of a foreclosed home?
You typically have to move out of a foreclosed home after the foreclosure process is complete and the new owner takes possession. This timeline can vary depending on state laws and the specifics of the foreclosure process. It's important to be prepared to move promptly once the foreclosure is finalized.
What are penalties of foreclosure?
You lose your home and any equity you had invested in it. If the eventual sale of the home does not cover your debt to the Lender, they may come after you for the difference. This could result in a judgment against you. Your credit score is adversely affected by the foreclosure, and possible judgment.
Can a second mortgage put your home in foreclosure?
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
