0
If house is foreclosed do all liens have to be satisfied before title is cleared?
Wiki User
∙ 11y ago
The liens that predate the foreclosed mortgage must be paid such as a prior mortgage. The http://taxes.answers.com and any municipal services liens must be paid. Any mortgages, attachments, etc that were recorded AFTER the foreclosed mortgage get wiped out as liens against the property.
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
How do you give a foreclosed house back to the bank?
When the bank foreclosed on the house, they took it back. Now it's time to move out.
How many house payments can one miss before being foreclosed?
If it is not specified in the contract then it is likely at the descretion of the lender.
Can you rent a house you were foreclosed on?
No, I can't
Can you buy a house for cash if your house is being foreclosed on?
Yes you can
Is it legal to take your central air unit from your foreclosed home?
If you bought it yourself after you moved in, and before the house was siezed and sold.
If you have secured a loan on your house what happens when you sell it?
All liens against the property must be satisfied and cleared as part of the sale. This can mean all monies due are paid, or the lender agrees to other terms in order to call the loan satisfied.
What should one know before buying foreclosed properties?
Before buying a foreclosed property, one should have a rough estimate of how much they will pay for the house, by checking the prices of recently sold properties in the area. The buyer should also research the area, the house itself, to check for any problems, and should have the finance for the purchase ready before making an offer.
How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
If you pay the taxes on a house that has been foreclosed does that mean you own it?
No the bank owns the house.
How many months behind before house is foreclosed?
Usually after 90 days. A good rule of thumb is 60 days after the first missed payment.
How long does it take a foreclosed house to get off your credit record?
A foreclosed home can take seven years before it is taken off your credit report. You can build your credit back up in about three years if you continue to pay all your bills on time.
How do you know when a house is legally foreclosed?
I;m new to this but I'd say when they changed the locks on the house...
