Liens are not 'wiped out': liens are paid.
When the foreclosed property is sold, the lien may be paid from the proceeds, depending on its priority and the amount earned from the sale.
The word condo describes a form of ownership. The word duplex describes the style of a unit. Essentially, a condo could be in the style of a duplex or town house.
Your local insurance broker can answer your question.
Read your governing documents to determine the uses for your property allowed by the association.
Carol Stills is the real estate agent that sold Michael his condo and then later dated him.
In real estate language this means that there is no active listing for the condominium, advertising it for sale.
Your mortgage lender can answer this question for you.
In a foreclosure ONLY the real estate is affected. Unless the condo was originally purchased fully furnished - the furnishings are the personal property of the owner who was foreclosed on and are not subject to seizure by the lender.
yes but I paid cash for my condo(association dues) , can it be foreclosed if so by who i don't have a mortgage
Yes, you can have a reverse mortgage on a condo. However, the condo must be approved by the Federal Housing Administration (FHA) for reverse mortgages. The condo complex must meet certain eligibility criteria set by the FHA.
You are responsible for all debits to the Association and Mortgage holder until the unit is sold. If the unit is sold the New owner get to pay your bad debit, the mortgage company will hold you responsible for any difference between the sales price and what is owed.
You can find the answer you want by asking the mortgage holder.
Your mortgage lender will help you qualify, regardless of the type of real estate you want to buy.
Your mortgage lender who is offering you an equity line of credit can answer your question.
LendGo, Freddie Mac and American Bank are lenders that will provide additional information needed about condominium mortgages. Another lender with condo mortgage information is BankRate.
Depends on the state or commonwealth you in. Contact an attorney and review your docs
Pose this question to the mortgage lender, together with all the details involved. That person will be better prepared to give you the answer you need.
Your mortgage lender is the person who can tell you how to proceed. Generally, a lender will require that you pay the debt and remove the lien before a new financial agreement can be made based on the property.