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Can you write up a deed of trust pursuant to an owner's partial interest in a property if there are no other loans on the property?
Yes, but if the mortgagor defaults on the mortgage you can only acquire their partial interest by foreclosing on the mortgage.Yes, but if the mortgagor defaults on the mortgage you can only acquire their partial interest by foreclosing on the mortgage.Yes, but if the mortgagor defaults on the mortgage you can only acquire their partial interest by foreclosing on the mortgage.Yes, but if the mortgagor defaults on the mortgage you can only acquire their partial interest by foreclosing on the mortgage.
Who notifies HOA when a property is foreclosed?
Generally the foreclosing lender must notify the HOA.
Does the bankruptcy court notify you when the bankruptcy is final and legally discharged?
No. The lawyer does.
Is there a sample letter to notify debtors of bankruptcy?
There are letters that attorneys use to notify creditors of a debtors bankruptcy. This letter states that the individuals have filed bankruptcy and the creditors are to cease all contact and attempts to collect their debt.
Define deficiency state?
A state that allows the foreclosing party to pursue the previous mortgagor for the difference of the sale price and the debt amount if the foreclosed home is not enough collateral to cover the debt.
What can happen if you don't notify the trustee of inherited money after bankruptcy?
Nothing, or your bankruptcy discharge can be reversed, or you can be fined or sent to prison. It depends on how much you inherit and how long after the bankruptcy you inherited it.
What happens when a leasehold mortgage is foreclosed?
The mortgagor's interest in the lease will be sold at a public foreclosure sale to the highest bidder. The winning bidder will then have the right to occupy the subject premises under the mortgagor's lease, for the remainder of the lease term. The ownership of the premises will not change. The foreclosure sale proceeds will be paid to the Sheriff, who will deduct his fees, with the balance of the sale price paid to the foreclosing mortgagee.
What happens if the motion for relief from a stay is denied?
Bankruptcy protection remains in place and the creditor who was denied the stay will remain a part of the bankruptcy and cannot attempt to collect the debt owed.
How do you know if a bankruptcy has been dimissed?
The bankruptcy trustee in charge of the case will notify the filer that the BK has been dismissed and the reasons for it having been done.
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.
What are some of the bankruptcy laws when it comes to not notifying my current employer about my bankruptcy filing?
There is no law that requires you to notify your employer that you have filed bankruptcy. It is a public record, though, so it will show up on a background check.
Who will notify me of the court's decision regarding my chapter 7 bankruptcy case?
You will receive a letter from the court notifying you that you have received a discharge.
