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If you go through home foreclosure can mortgage company go after your other holdings?
Wiki User
∙ 16y ago
Yes, if the sale of the house does not produce enough money to pay off the debt, the rest of the debt may be collected using the other methods.
Wiki User
∙ 16y ago
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If your home owners insurance is part of your mortgage payment and you stop paying your mortgage what happens to your insurance coverage?
Once you have defaulted on your mortgage or have gone into foreclosure all your rights on the homeowners policy are null and void. all rights of recovery revert to the Mortgage company. Basically you become uninsured and the mortgage company remains insured through the policy term. Also if the policy gets cancelled due to the foreclosure any refunds belong to the mortgage company.
Is there any way to get a mortgage if you went through foreclosure and have a FICO score below 500 but have 50000 capital to invest?
If you just went through a foreclosure I know of no one that will give you a mortgage for a number of years. I tell people to sell the home before it goes to auction.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
Where can you find more information to stop foreclosure?
If you want to stop foreclosure on your home your best bet is to call the company you have a mortgage through and ask them if there is any type of payment plan they can work out with you.
How can you find out what their california mortgage rate is?
If your mortgage is through a bank, call them. If it's through a mortgage company then they could tell you anything you needed to know. Just give them a call.
What are the foreclosure laws in New Jersey?
At least 30 days before starting the foreclosure process, the lender mails a letter to the borrower warning of the impending foreclosure. During this pre-foreclosure period, the borrower can prevent the foreclosure by paying off the amount in default. The lender initiates the foreclosure through the courts and records a lis pendens (notice of pending lawsuit) with the county clerk. The lender can sue for either the default payments or the entire unpaid principal balance on the loan. The borrower is notified of the foreclosure action in person or by publication if necessary. After being notified, the borrower has at least 35 days to respond or the court will make a ruling. If the court rules against the borrower, a sale date will be scheduled. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
If your home is foreclosed on are you still liable for the mortgage?
To answer this we would need to know where the home is. States such as California only allow lenders one action, which is usually the foreclosure. After that they can not be persued. A second mortgage however, may persue if they did not do the foreclosure. Other states allow for deficiency balances to be persued through collection actions and the courts.
Can you have 2 mortgage loans through same mortgage company?
Yes. Your mortgage company may hold your first (or primary) mortgage as well as a second which may be represented as a home equity loan or a home equity line of credit.
How do you know if you had mortgage insurance?
This depends on what you mean by mortgage insurance. If you are talking about products like PMI (Premium Mortgage Insurance) look on your escrow billing and it will be listed. If you are talking about a life insurance policy that would be either through credit life with your mortgage company or separately through an insurance company.
What companies offer mortgage services through a company website?
Companies that offer mortgage services through a company site are National mortgages settlement which is for homeowners. Another is HARP Lenders who is with Freddie Mac.
How does a surety agreement work in a real estate mortgage in case of foreclosure?
It may be enforced through a lawsuit if the foreclosed property is not sufficient to pay the actual debt.
Do you qualify for the 8000 credit if you go through a conventional mortgage company and not FHA?
Yes. Whether you have a mortgage or not or where you got it is not relevant.
