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The process varies depending on state. For more information, visit http://www.realtytrac.com/foreclosure-laws/foreclosure-laws-comparison.asp. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
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∙ 15y ago
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What happens when Rented property goes into foreclosure?
It is the same process as any other foreclosure, except that at the conclusion of the foreclosure, the tenants will be forced to leave.
Who is responsible for a property still in the foreclosure process once you vacate the premises?
You are responsible for the property during the foreclosure process up until the property is sold or auctioned.
How long does a foreclosure process take?
It depends on where you live.
If the lender starts the foreclosure process but isn't completed should it show on your credit report?
It wouldn't show up as a completed foreclosure, but it would show up. It would say "foreclosure started" or "foreclosure initiated" or something to that effect.
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.
What is the land foreclosure process in puerto rico?
judicial foreclosure process
When we file the Motion to reinstate does this stop foreclosure process?
Once this motion is recorded it should stop the foreclosure process. Actually, once the bankruptcy is filed, the foreclosure process should already be stopped.
What happens when Rented property goes into foreclosure?
It is the same process as any other foreclosure, except that at the conclusion of the foreclosure, the tenants will be forced to leave.
How do you write a letter requesting deed in lieu of foreclosure?
A letter requesting the deed in lieu of foreclosure is written to the bank. You should explain the foreclosure situation and request the deed afterward.
Who is responsible for a property still in the foreclosure process once you vacate the premises?
You are responsible for the property during the foreclosure process up until the property is sold or auctioned.
How long does a foreclosure process take?
It depends on where you live.
how long can foreclosure take?
typically, the mortgage company will start the foreclosure process about 3-6 months after the first missed mortgage payment The timeline of the foreclosure process will depend almost entirely on the state law a good place to find information is: www.Foreclosurefish.com
If the lender starts the foreclosure process but isn't completed should it show on your credit report?
It wouldn't show up as a completed foreclosure, but it would show up. It would say "foreclosure started" or "foreclosure initiated" or something to that effect.
Where can I learn about foreclosure rules?
You can go to www.ask.com/Foreclosure+Process. It will give you answers to all your foreclosure processes that you need answers to. These were questions asked by people and they got their answers, now get yours!
Can a homeowner rent a house that is already in foreclosure?
The homeowner must disclose to the renter the home is in the foreclosure process. There may be fraud involved if the potential tenant is not given notice.The homeowner must disclose to the renter the home is in the foreclosure process. There may be fraud involved if the potential tenant is not given notice.The homeowner must disclose to the renter the home is in the foreclosure process. There may be fraud involved if the potential tenant is not given notice.The homeowner must disclose to the renter the home is in the foreclosure process. There may be fraud involved if the potential tenant is not given notice.
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.
What are the legal ways to stop foreclosure quickly?
You can first get in writing from the bank that they are agreeable to stop the foreclosing process. Once you are armed with this information you can present it to the process servers who are trying to begin the foreclosure proedure.
