However, forclosing (or forcing the sale) takes time and money. Especially if you fight it. And if the lender doesn't recover enough to repay all the costs, interest fees, etc. (a deficiency) he may try and seize another asset you have too.
In a deed in lieu of foreclosure you basically say (or should) - I will cooperate and hand over the asset now, as payment in full for the debt. Since it would pay off the entire debt, there would be no basis for the lender to force sale of another asset.
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.
The foreclosure will simply continue as it normally would have if the bankruptcy had not been filed, except for any special provision made in the order allowing the foreclosure to cotinue.
Pre-foreclosure leads can be found on RealEstate. It is good to invest in these lists while you get the good advantages, like discovering mysteries, discovering expenses, and you have more flexability!
It is possible to stall foreclosure for up to two years using bankruptcy and a variety of other tactics. Getting what is called a Stay is a process of fighting back against the bank, and fighting for your right to stay in your home. Stalling foreclosure is not the simplest process but it can be done, and should be done if you are upside down in your mortgage, and thinking of filing bankruptcy. I have been going through foreclosure, and besides using an attorney, I found this book pretty helpful called the Stall Foreclosures E-Book. You can get this book, and read through it before you start the process to sort of give you a background on how to manage to stall foreclosure and stay in your home while fighting back. It is at www.StallForeclosures.com
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.
I know of people who applied for the modification but all the while the mortgage company proceeded with the foreclosure. So, yes they still will foreclosure apparently. Its like one hand doesn't know what the other is doing. the individuals that I know had to file chapter 13 bankruptcy to stop the foreclosure sale from happening
There is only one way to avoid foreclosure - make your payments. Any other method merely delays the inevitable. In extreme cases, depending upon the state you live in, bankruptcy can temporarily stop the foreclosure process while you get back on your feet.
While any judgment can attach against real property, only a judgment and decree of foreclosure can result in the foreclosure of real property. Decrees of foreclosure are only added to judgments as a result of non-payment of a mortgage or deed of trust, or other security instrument.
No.
YOU don't evcer do a foreclosure on what you own. the bank does. Bankrutpcy overrides foreclosure and in fact will essentially delay it while the property is sold in the BK process.
the independent variable
Semipermeable membrane.
The executor of the estate represents the decedent.
The foreclosure will simply continue as it normally would have if the bankruptcy had not been filed, except for any special provision made in the order allowing the foreclosure to cotinue.
If two people owned property, executed a mortgage, and the mortgage is in default, the foreclosure will be filed in both names. It was both mortgagors who defaulted and both will be parties to the foreclosure. If one executes a quitclaim deed to the other that will not stop their being mentioned in the foreclosure.