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No. You would only incur more costs.
No. You would only incur more costs.
No. You would only incur more costs.
No. You would only incur more costs.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoNo. You would only incur more costs.
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Can the bank legally sell a home in forclosure for more than What is its legally worth?
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.
What does foreclosure redeemed mean?
forclosure redeemed means that in the process of the mtg company forclosing on a property, the property owner was able to pay off the full amount due, therefore stoping the forclosure process
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.
What do you do if you owner financed a home and now the owner is not making payments and the mortgage company is going to foreclose?
You have to make the payment, but you also need to start forclosure yourself. Get the property back and sell it again.
Can you protect assets before a foreclosure?
Forclosure only affects the specific property that is under contract. If you have other assets they are not in jeopardy during forclosure. On the other hand, a lending institution may initiate a lawsuit to capture remaining loss. Banks are in the business of LENDING money, not giving it away. By law, they are to seek whatever means available to recover the money they loan to you. They have an obligation to repay THEIR lenders, which are the people who deposit money to the bank in hopes of getting an investment type return. So, back to your question: The bank will complete forclosure first to get the property back. You'll have an opportunity to move your personal property out of the "Real" property before forclosure, but if you wait too long they will dispose of your personal property in a way that is most efficient for them. Then they will sell the property in hopes of recovering whatever money is owned on the original loan. If they don't recover enough to pay back the money that you borrowed they may initiate a lawsuit to get the REST of that money, depening on whether they perceive that such a lawsuit might be effective.
What is the correct spelling of forclosure?
The spelling is foreclosure (involuntary seizure of property used as collateral).
Can you sell a vehicle even though you are going through a divorce?
You should check with your attorney before you sell any property acquired during your marriage.You should check with your attorney before you sell any property acquired during your marriage.You should check with your attorney before you sell any property acquired during your marriage.You should check with your attorney before you sell any property acquired during your marriage.
What happens to my primary residence when I can't find a tenant for my rental property and it goes into forclosure?
Assuming the rental properties under foreclosure, it is only that property that is being foreclosed.
How can you find out if your property is on a forclosure list?
In order to find out if your house is on the forclosure list you should contact your lending bank. You may also be able to go on to your banks website and look as many of the top banks maintain a list of forclosures on their website.
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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 a lien holder be given a quitclaim deed from the owner?
Yes the owner of the property may give the lien holder a quitclaim deed if they are unable to pay the note and wish to forfeit the property. This is often done to avoid forclosure.
