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How do you know if a foreclosure proceeding on your home has been initiated?
Wiki User
∙ 15y ago
Generally you will be given notice by certified mail that a foreclosure action has been initiated. In most jurisdictions the notice will be published in your local newspaper for successive weeks and will include the date of the auction. Once the property has been sold at auction it is no longer your property. You should already know of the impending foreclosure by the late notices you will have received from the bank.
Wiki User
∙ 15y ago
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You had foreclosure proceedings started but you sold the home and paid off the bank in full Can the foreclosure proceeding started be remove from your credit report?
If foreclosure proceedings were initiated, and that is all that is claimed on the credit report, then the bank cannot change the report. If the credit report shows that the foreclosure took place, however, the bank would have to correct that. Similarly, a credit card company won't take back any delinquent payments reporting just because the card was paid off. They are legally obligated to report accurately.
What is a pre foreclosure?
A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.
Can you rent out your home while home is in foreclosure?
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
Can a bank put a lien on a new home for the amount owed on a different foreclosed home?
Yours is a tricky question. Generally, a lender has only rights in the property granted in the mortgage. However, in some jurisdictions and in certain situations, a lender who is owed money can seek a judgment in court to recover money owed. That separate judicial proceeding is outside of the foreclosure proceeding and is generally in a lower court. Lenders may take advantage of that availability to recover deficiencies resulting from decreasing property values affecting foreclosure sales. You should seek the advice of an attorney in your area.
What is a pre foreclosure home?
A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.
You had foreclosure proceedings started but you sold the home and paid off the bank in full Can the foreclosure proceeding started be remove from your credit report?
If foreclosure proceedings were initiated, and that is all that is claimed on the credit report, then the bank cannot change the report. If the credit report shows that the foreclosure took place, however, the bank would have to correct that. Similarly, a credit card company won't take back any delinquent payments reporting just because the card was paid off. They are legally obligated to report accurately.
What is a pre foreclosure?
A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.
Can you rent out your home while home is in foreclosure?
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
Can a second mortgage put your home in foreclosure?
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
In California what is the time limit for moving out of a foreclosure?
what is the time for foreclosure on a home in california?
If your renting a home in foreclosure when do you stop paying rent?
Not until there is a foreclosure sale.
Why would someone get a foreclosure notice?
Foreclosure notices are served on those who have not been able to keep up with their mortgage payments on their home. They are akin to an eviction notice, as the bank is claiming their property.
Can a bank put a lien on a new home for the amount owed on a different foreclosed home?
Yours is a tricky question. Generally, a lender has only rights in the property granted in the mortgage. However, in some jurisdictions and in certain situations, a lender who is owed money can seek a judgment in court to recover money owed. That separate judicial proceeding is outside of the foreclosure proceeding and is generally in a lower court. Lenders may take advantage of that availability to recover deficiencies resulting from decreasing property values affecting foreclosure sales. You should seek the advice of an attorney in your area.
What is a pre foreclosure home?
A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.
What is a bank foreclosure?
It when your mortgage to the bank has been defaulted on and they decide to take back your home to compensate for their lost money.
Can you get approved for a home after foreclosure?
You are typically off the market for about 3-4 years after a foreclosure.
Do you have to pay something in a home foreclosure?
no
