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Can the bank legally sell a home in forclosure for more than What is its legally worth?
Wiki User
∙ 9y ago
The bank can sell the property for any price they can get for it. No one is going to be willing to pay more than it is worth.
Wiki User
∙ 9y ago
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Second bank recorded mortgage before first bank and now only the first bank is foreclosing home in NYC and so does second bank have interest in home that is foreclosed by first bank given these facts?
Yes, second has priority and their lien will survive the forclosure of a junior lien.
What is the generic way to avoid forclosure?
The generic way to avoid forclosure is to refinance or get an additional loan float to keep the home from forclosure. This allows the individuals to maintain in their homes as well as allows the banks to receive a higher yield, versus the forclosure amounts.
Can you re-fi your primary home after losing an investment property to forclosure?
Yes. You will need to have at least a 620 credit score, and it has to be at least 3 years after the forclosure. Yes. You will need to have at least a 620 credit score, and it has to be at least 3 years after the forclosure.
Are you allowed to keep a lot of money at home?
You can keep a lot of money at home if you want to. As long as you have legally earned money, you do not have to keep it in a bank. It may be safer in a bank but you can keep it in your home.
How will a va forclosure effect my credit?
I think it is safe to say that a forclosure of any type will destroy your credit worthiness. A home lone should be the last possible thing you let slide.
Exhusband he signed quick claim he is the primary loan holder but the house is in forclosure?
we just got divorced and he gave me the home but it is in forclosure if i fax qick claim to mortage company will they have to start process over
Can a bank take furniture and TV etc in a home foreclose?
in order for the bank to remove your personal property from your home the foreclosure must have taken place and you must being legally evicted first.
Is it illegal for the refrigerator to be removed if a house is in forclosure?
Typically the contents of a home are not considered a part of it. It could be removed.
Can you move into a foreclosed home legally?
No, moving into a foreclosed home without permission is not legal. The property is still owned by the bank or financial institution until it is sold, and entering without authorization can lead to legal consequences. If you are interested in purchasing a foreclosed property, it is important to go through the proper channels and complete the transaction legally.
Is there any way you can get a loan for a home worth 80000 you have 40000 in the bank but no proof of income?
yes
How much money legally have at home?
The amount of money you can legally have at home varies by country, but generally there is no limit on the amount of money you can keep at home. However, carrying or keeping very large amounts of cash may raise suspicions of money laundering or tax evasion. It is always recommended to keep your money in a secure location such as a bank account.
Voluntary foreclosure how do i do this and does it have to be excepted?
Voluntary forclosure is when you call your lender and tell them you are voluntarily forclosing. This way the lender knows to sell the home before the bank "forcloses". I heard when the bank sells the home for a lower amount than the payoff, they can come after you to pay back the difference. By volunteering, you have open communication with the lender where the house can be put on the market asap rather than after the fact. You are off the hook but its stamped on your credit for a very long time.
