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It depends on where you live.
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∙ 14y ago
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How long does a deed in lieu of foreclosure take to give back the property?
With the consent of the property owner and lender, the deed is valid immediately after it is recorded in the county public records. It is a good way to avoid the foreclosure process, but, oddly, many lenders will not accept such a deed and insist on the expensive and tedious foreclosure process.
How long does foreclosure take?
This varies depending on which state you live in. It is typically around 6 months from beginning of foreclosure to the end (when the property is sold at auction).
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 long can a judgment of foreclosure take?
My own opinion... usually 3 months (90 days). However, is it Constiutional to deprive you of property without due process? Due process involves both parties before a court, doesn't it? Again, my opinion only.
How do you stall foreclosure?
You can stall a foreclosure. If you negotiate with the lender for a short sale, the lender may hold back on the foreclosure process to allow you to complete the short sale. You can also challenge the foreclosure process in court. If there are any irregularities in the foreclosure process initiated by the lender, the court can stall the foreclosure. You should ask the lender to produce the original note. Often the lender initiating the foreclosure is not the original lender. Most lenders sell the mortgage to other lenders and institutions. It is the subsequent lender who generally initiates the foreclosure. Often the subsequent lender may have problems producing the original note. Sometimes it can take months to produce the original note. Filing for bankruptcy also stalls the foreclosure. Negotiations with the lender can also buy you time. For an official opinion, it is advised you seek legal counsel.
How long does a foreclosure take in the event of a death?
14 days.
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 if you are late on a payment or stop making your monthly payment on the house?
The lender will begin the process to take possession of the property by foreclosure.
What to do when you hold a second mortgage and the people have not paid in 4 months?
Absolutely start the foreclosure process. If the first mortage is also in default, then you run the risk that they start foreclosure before you. If that happens there is a good possibility that your mortgage will be wiped out. The only way to avoid this, in most states, is to purchase the house at foreclosure. For most private mortgage holders this is not a realistic alternative. Typically foreclosure can take several months. By delaying further you insure that your losses will be compounded. Keep in mind that you can always stop the foreclosure process.
Do you have to pay for a home if you are on the deed?
If your name was added to property after the property was mortgaged then you are not legally responsible for paying the mortgage and a foreclosure of the mortgage will not affect your credit. However, if the mortgage isn't paid the lender will take possession of the property by a foreclosure process.
How long does short sales process take place?
The process really can vary. Much depends on how quickly you can get an offer on your house, and how willing the lender(s) is to approve the short sale. Mine took about 6 months in total. Getting started early (so as to avoid foreclosure) is key.
If you have a manor child how long can you stay in foreclosure house?
If you live in the US... Once the foreclosure is completed, if the property is still occupied, the lender will begin the legal eviction process. The fact that you have a minor child doesn't buy you any extra time.
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 I do a Bankruptcy and foreclosure with a second mortgage at the same time?
YOU don't evcer do a foreclosure on what you own. the bank does. Bankrutpcy overrides foreclosure and in fact will essentially delay it while the property is sold in the BK process.
How long do you have to demand the return of personal items in your house after a foreclosure?
You should check the foreclosure laws in your area.
How long is the process for foreclosure?
This process, for us at least, took awhile. My father got the foreclosure letter in the summer of 03, and because of the courts they moved the dates back and then back again, and we finally got foreclosed on the NEXT summer, June of 04. It depends how busy the courts are, I suppose. You will probably get letter after letter letting you know a date, then maybe it will be that date, maybe you will get another letter like we did pushing the foreclosure date off.
Can you sell your house during foreclosure?
Yes. The new owner would take subject to the foreclosure as well as yourself.
