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Can you surrender an investment property to your lender to pay for another property in foreclosure?
Wiki User
∙ 12y ago
That decision would be up to the lender.
That decision would be up to the lender.
That decision would be up to the lender.
That decision would be up to the lender.
Wiki User
∙ 12y ago
Wiki User
∙ 12y agoThat decision would be up to the lender.
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Can I Transfer a mortgage in foreclosure to another name?
No. You have no authority to transfer a mortgage unless you are the lender. The lender can assign its rights under the mortgage to another lender. If you are the owner of the property transferring the property to another will violate the terms of the mortgage and may incur added expense to the foreclosure costs.
Are you able to keep property in another state that you have paid off in full if you foreclose on your home?
The foreclosure should not affect your other property.
My husband and I each purchased land in California. We live in another state. The properties are about to go into foreclosure. Which states foreclosure laws will apply?
Foreclosure laws typically apply based on the location of the property, so in this case, California's foreclosure laws would likely apply to the properties you both purchased in that state. It's important to consult with a legal professional in California to fully understand the implications and processes involved in the foreclosure proceedings.
If you have had a foreclosure can you purchase other property later?
Yes you can purchase property. The problem is finding another lender willing to give you a loan that is affordable.
Can you sell a property with a 1031 exchange and use the money to buy into a business rather than another investment property?
no, a 1031 exchange is only for going from property to property
How can I get a bank to stop a foreclosure on a property?
With the country in the midst of this crisis, the bank doesn't really want to foreclose since they will then be stuck with another property. So try to modify your mortgage, or arrange a short sale, or apply for federal help. Filing chapter 13 is supposed to stall a foreclosure too.
How long do you have to wait to refinance after foreclosure?
If the mortgage on your property is foreclosed the bank takes possession and you lose the property. You can't refinance. I have heard that to take on a new loan is possible in as little as two years. However, if you own another property paid off or in good standing, the foreclosure could affect your ability to refinance that property. I've heard 3 years so 2 years is a plus!
Who is responsible to remove a tree that fell into my yard when the property it fell from is a foreclosure?
Each property owner or your insurers will be responsible for removing that portion of the tree that is on their own property. A property owner nor their Insurer is liable to another for acts of nature unless it can be proven that they were negligent in some way.
Can you get a normal mortgage for investment in a UK property or is another mortgage type product available?
If by a normal mortgage you mean a residential mortgage then generally speaking, no - not for investment purposes. However it really depends on what you intend to do with the property, buy the property to rent out (buy to let), buy to renovate and sell (aka 'flip') or any number of other strategies.
If your house is in forecloure can your spouse buy another house while you file bankruptcy There was a quick claim done to get spouse name off of the title?
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.
If a person dies and another person pays taxes on there property does that person have the full right of that property or land?
Absolutely not. That person would be a volunteer, having paid the taxes on property they don't own. Paying the property taxes does not bestow legal title. You would need to obtain title from the heirs or from the town after the town takes possession of the property by tax title foreclosure.
my property was sold at a foreclosure sale is there anyway to recover this property?
No you can't recover the property. It was sold to another person and they own it now and unless they put it up for sale they is no way for you to get it back. And regardless of whether or not they put it up for sale there is no way to recover the money you already paid toward the original mortgage note.
