That's something the state law where the property is located determines. Another factor would be the amount of taxes owed compared to the value of the property. For example, most judges would not let the state seize and sell a home that was worth if there is a gross disparity between taxes owed and what the assessed value of the property.
If you own your car or house and are no longer making payments, should you still have insurance on them? Explain why or why not.
Not as long as you continue to make payments on it.
No its perfectly legal and if you are still making payments on it, that increases values.
Yes. Failure to reaffirm means that you cannot be sued to recover a deficiency. You can still make the payments.
Not as long as the payments are current and have remained so.
Since you mention making payments, i will assume you do not own your home outright. If you cannot afford the mortgage payments, the lender will foreclose. Regardless if you are disabled or not. However, you would still able to receive any money (up to your state exemptiom amount) from the sale of your house after the lender is paid off. If you have no equity, then you will surely lose the house if you make no payments.
If you possess the title, then you own it. If you've been making the payments, you should know whether or not you've defaulted on them. If you haven't finished making the payments, the financier owns that vehicle.
The bank has to successfully file to foreclose your home. You still have a period to redeem your house by making payments before the sale.
No, because you are meeting the requirement's of the loan. It is when you stop paying the loan payments that you loose your house. Then, they have a reason to get their money back.
Not if the cosigner has been making the payments on time. But often the cosigner doesn't know the loan is in default until it is past due 30 days or more, so if you have received two or three (depends on state laws) Right To Cure Default letters, the bank can foreclose.
Depends on what you mean by
Ususually in BK a house is either voluntarily surrendered, because it is not possible for the borrower(s) to keep up payments.. Or the buyer reaffirms the loan with the lender and works out a plan to repay missed payments. If your mortgage payments are current, I see no reason why the lender would seek foreclosure.
Yes but it will also list that you are making payments!
It depends on where your subsidy is coming from. Most adoption assistance payments are issued through the county or state the child was adopted from; as long as the government of your county or state is still running, your check should still arrive on time.
do you live in a community property state? if so anything a spouse does will affect the other.
If your chapter 7 has been closed, yes - if you can find a lender for another mortgage. Your credit scores will have lowered because of the filing and discharge.
The best indicator is that you still owe on the car, and you have stopped making payments.
You can do what you want in that regards. You will still be liable for the payments and the bill will still come in your name. Check with a third party loan company. They may have high interest risk policys they can offer.
You can pay it off and sell it, or you can get it fixed, or you can just let it sit there and keep making payments on a car you can't use.
Technically you breached the contract with the lender if you did not make payments in 6 months. They actually have the right to NOT accept further payments from you. So yes, it can still be repossessed.
The executor must make the payments from any assets of the deceased Estate until the Estate is settled.
depends on contract, if your up to date on payments they usually wont. if you pay in full at time of purchase it wont be a problem