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Do you have any financial responsibilities after foreclosure assuming this is your only house?
Wiki User
∙ 13y ago
This answer will depend on your specific circumstances but some possible liabilities could be for any remaining debt on the loan that is not recovered in the foreclosure sale. For example if you owe 100k on the mortgage when it is foreclosed and it only sells for 80k at auction you can still be personally liable for the remaining 20k. This is commonly known as a deficiency judgment. There may be other liabilities but without additional information I cant say for sure. I would recommend talking to an attorney in your area.
Wiki User
∙ 13y ago
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The corp owner of a house I would like to buy bought the house at a foreclosure auction They want to give me a Special Warranty Deed Will I be responsible to pay liens unpaid HOA fees and or backtaxes?
Your financial responsibilities are detailed in the transaction documents. There is no standard answer to your question.
Can forbearance affect buying a house?
Yes it does, as it delays the foreclosure when the borrower is having financial problems. But this is only a temporary solution as if the borrower has very serious financial problem, this is definitely the solution.
Can you put a house for sale in foreclosure?
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
Do you get the best deal by buying a house at a foreclosure auction?
Yes, you get the best deal by buying a house at a foreclosure auction. You can read more at www.realtytrac.com/foreclosure/Auction/how-to-buy-homes-at-auction.html
Can you purchase another house if your house is not in foreclosure?
mo ney
What is the importance of a foreclosure of a house?
Houses go into foreclosure when the owner can no longer afford to make the house payments. Many people look to purchase foreclosure homes as they can often be purchased for a low price.
If your house was in foreclosure what would be your greatest need?
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
How long can you live in your house once foreclosure has started in Memphis tn?
in new york how long can you live in your house once foreclosure starts
What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
If you have a lien on the house going into foreclosure will you get your money?
No
How long do you have to demand the return of personal items in your house after a foreclosure?
You should check the foreclosure laws in your area.
What if your daughter bought a home with her grandmother as a co-signer she now faces foreclosure should she file chapter 13 bankruptcy how does all this effect her grandmother?
If the house is headed for foreclosure, anyone on the title and the mortgage is facing foreclosure, not just one of the owners. If the daughter was responsible for the mortgage payments by agreement with her grandmother, and got behind in payments, she may be able to pull the mortgage out of foreclosure by a Chapter 13, if she can afford the plan payments and the current mortgage payments. If the Chapter 13 cannot succeed without financial input from the grandmother, it will be up to her to let it go forward and lose the house. Either way, the fact that the house is in foreclosure will affect her credit score.
