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How Foreclosure works?

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Anonymous

10y ago
Updated: 9/13/2022

Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.

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Corbin Jast

Lvl 10
2y ago

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Related Questions

Why am I being sued after foreclosure?

If it sold for less than you owe on the mortgage and costs associated with the foreclosure, you can be held responsible in some states for the balance. You might consider seeking advice from an attorney who works with homeowners who face foreclosure.


What is a foreclosure dismissal?

Foreclosure dismissal is a simple foreclosure challenge that can be filed to the foreclosure complaint even without an attorney.Added: A foreclosure dismissal is a court order dismissing a foreclosure action.


What is foreclosure help?

Foreclosure help is advice and help you can get from an organization or service that will help you through a foreclosure or help you stop a foreclosure. Foreclosure Help and Hope is an organization that can help.


Can a lien lead to foreclosure?

Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/


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


What is a consent judgment in a foreclosure?

A consent judgment in a foreclosure is whereby a borrower with a pending foreclosure agrees to get into a judgment for foreclosure. This will not require further legal representation.


Can a mortgage borrower apply for court foreclosure?

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.


Can you do Deed in lieu after foreclosure?

deed in lieu after foreclosure?


What is the difference between preclosure and foreclosure?

Be aware that a pre-foreclosure property is not necessarily for sale. The pre-foreclosure stage is the period between the time in which a Notice of Default (in non-judicial foreclosure) or lis pendens (in judicial foreclosure) has been issued to the homeowner and after the property is sold at a foreclosure auction.


Where could I possibly find some foreclosure procedures?

Nonprofit housing counselors can possibly help with information regarding foreclosure procedures. If there isn't any housing counselors within your area, you could always contact a legal advisor who works in a housing area of expertise.


What happens to your down payment in foreclosure?

The money is gone after foreclosure.


Do banks or homeowners have foreclosure auctions?

Lenders will occasionally have foreclosure auctions. Homeowners will often sell their property to avoid foreclosure.