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How can a mortgage company sell your property at sheriffs sale with out you knowing?
Wiki User
∙ 12y ago
This is possible, though unlikely unless you're deliberately trying not to know. They are required to make a good faith effort to notify you of the pending sale. That means mailing a notice to your last known mailing address and probably also serving you with papers by physically posting them on the door of the property in question.
If you think, like some people apparently do, that if you refuse to take delivery of the notices, they can't sell the property.... sorry, but you're wrong. They have to make the effort to deliver the notice to you; they don't have to come around and force you to read them.
The question originally had "mortgage" where it now says "property". A mortgage company call sell your MORTGAGE without notice at any time (I think they have to tell you in the loan contract that they can do this, but this is bog-standard boilerplate, so the chances your contract doesn't include this are effectively nil). This kind of sale would be to another mortgage company, though, and the only real impact on you would be that you now have to send the checks to a different address.
Wiki User
∙ 12y ago
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Mortgage insurance protection comes in handy if you happen to lose your job or become disabled. If you die the insurance will pay off your mortgage as well. Basically it depends on how healthy you are and if you want the security of knowing your house will be taken care of if illness falls upon you. Mortgage insurance protection is not necessary.
How can you buy a foreclosed or bank owned property?
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