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If you just been dischared from bankrupcty and your househome was foreclosed upon will you be able to find a rental home for your family?
Wiki User
∙ 11y ago
Almost certainly, visit a few rental places and ask. If you have a good job, most will rent to you, especially privately owned places. You may need more of a deposit and first and last month's rent.
A discharged bankrupcy is a good indication of the banckrupt's not being able to get out of debt for a very long time; this means that just about anybody with a job is a good purchase source.
You can rent; you can purchase, and you can be stuck with debt and never have a chance to get out of it... for a very long time. Bankruptcy is supposed to be an opportunity for a new start. It is. But you really got to think about it and what you did which was financially 'wrong'.
As a merchant, a rentor, or someone who gets money from you for something...the best customer, is a former bankrupt. They got no opions but to pay.
So, sure you can rent. You can buy more cars than you need. You can spend money like it's going out of style, and you will have to pay it back for at least 12 years or so.
(The number of years depends on the particular circumstances: which Chapter of the code and such....)
While I think much of the above is well founded...I must take extreme objection to the contention that anyone with a, especially recent, BK is every considered a good financial/credit risk. Simply the facts contradict it, (and see some of the s here for examples). There is nothing on your credit report that lowers your credit score as much...there is nothing else deemed important enough to prospective creditors that it is given an extra long time (10 years) of being reported and counted against the person in credit issues.
The idea that anyone with the lack of financial understanding, ever felt it was OK to not pay as agreed, then avoided making good by using BK (which really can be filed for in only a few years (chapter 13 = 3 yrs between...keep it open and wait out the time to chapter 7---and of course - just make empty promises and accumulate debt for the first few) again....and the person now has experience at not paying/delaying, etc), would ever be preferred (or even the same as) to someone who simply paid their loans/debts/obligations as they agreed, regardless of sacrifice....is wrong. It is the type of idea promoted by those selling programs (and frequently preying upon) those with financial troubles.
Yes you can rent (many landlords don't even run credit checks)....and you should rent what you can actually afford (you may want to get help on establishing what this is...because it means after considering and also saving for all those things - sickness, job loss/slowdown, car breaking, increase in $ of everything that actually do happen to people) ...and you should be prepared to prove that to a prospective landlord.
Wiki User
∙ 11y ago
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When does one qualify for VA foreclosure?
Going thru a foreclosure is very hard on a family. You can be foreclosed on in as little as 90 days.
What can you do to stop the sale of your property and how much time do you have?
who is selling it and why? Is it being foreclosed? If so... you can find another family member or something to buy the home, try and refinance it , or try to catch up on deliquent bills with the mortgagee. If it is in foreclosure you can file a chapter 13. It will stop the sale the very same day.
Can a house be foreclosed on in a person's name who is not on mortgage but property is quick claimed to them and they quick claim property back into estate of deceased person name before foreclosure?
A mortgage in default can be foreclosed no matter how many times you quitclaim it around the family. Every person who receives the property by a quitclaim deed takes it subject to the mortgage. You may slow down the process a little and add to the costs of the foreclosure but the foreclosure rides on the person who had title at the time of the mortgage. THEY gave an interest in the property to the bank in exchange for cash. If the cash was not paid back the bank is going to take possession of the property. Subsequent owners only need to be given notice of the proceeding.
Can a person who owes on property to a bank divide that property and sell to family member but then default on original loan and be able to still keep that small piece of property that was split?
No. The mortgage follows the whole property and it would all be foreclosed for non-payment. The bank would need to agree to release it lien on the property being transferred for you scenario to take place.
Can you buy a foreclosed home with no money down and poor credit?
Unlikely. Sorry to have to say that because by the nature of your asking the question, I suspect you are wanting to make money by buying real estate foreclosures. At least here in Texas, when you are buying a house at a foreclosure auction, who pay for the house right there at the sale - cash or cashiers check. That is not quite 0 down. The people who tout make money with no money down are telling you to leverage or borrow from family members to get the money. You are just delaying the risk or spreading it around then. I have made money in real estate, but not in foreclosures. I invest and work with several businesses. I have a few articles that speak to these as well as my foreclosure experiences. I spent a year trying to buy foreclosed homes and gave it up because I could not find a deal that made sense.
Our house is being foreclosed in Michigan can other property owned with a tenancy in common with family members free and clear have a lien put on it as a result of our foreclosure?
Yes, it is not unusual for a lender to seek additional security, in the form of a lien on other land or personal property, once you're in default on the original agreement. If the auction goes badly, they don't want to be left without payment of the outstanding balance. As a tenant in common, you have a separate ownership interest that can be attached and liquidated.
Title of movies with family in the title?
Some movies that have family in the title are The Family, In the Family, The Family Stone, The Family Man, and The Family That Preys. Another film that has family in the title is The Addams Family.
Who are the richest fifty families in Jordan?
Here is a list of fifty richest families in Jordan. Al-Masri Family, Abu-Ghazaleh Family, Al-Sayegh Family, Al-Manaseer Family, Shoman Family, Sukhtian Family, Darwazeh Family, Malhas Family, Al-Kurdi Family, Gargour Family, Nuqul Family, Shaheen Family, Kawar Family, Muasher Family, Khawaja Family, Miqdadi Family, Dajani Family, Salfiti Family, Dahleh Family, Abu-Jaber Family, Hourani Family, Khawaja Family, Miqdadi Family, Hijazi Family, Ghousheh Family, Al-Qadi Family, Al-Khalili Family, Fakhoury Family, Jardaneh Family, Murad Family, Abu-Khader Family, Tantash Family, Al-Tabbaa Family, Al-Husseini Family, Abu Al-Ragheb Family, Badran Family, Al-Rasekh Family, Haddad Family, Al-Qawasmi Family, Imseeh Family, Elayyan Family,Al-Faouri Family, Al-Fayez Family, Al-Talhouni Family, Al-Kalouti Family, Abu-Khadeejah Family, Al-Sharif Family, Al-Bilbeisi Family, Abu Al-Haj Family, Al-Talhouni Family, Al-Kalouti Family, Abu-Qura Family, Al-Alami Family, Al-Bukhari Family.
What TV shows have the word family in the title?
Family Matters, Family Guy, Family Ties, All in the Family, Addam's Family
How can I remove myself from a second mortgage on my daughters foreclosed home?
You may not be able to. If you were a co-signer on the loan you are jointly responsible for the debt. Prior to the foreclosure it may have been possible to refinance the debt into just her name if she qualified, but now the collateral is gone and the loan is probably in collections. The lender needs every liable party they can get, they will not remove you. The only feasible way to get this particular debt out of your name would be to pay it off with funds not in your name. For example; if another family member were to loan your daughter the money to satisfy or settle the 2nd mortgage and have her repay the family member herself, you would no longer have legal liability for the debt.
Is it you and your family or your family and you?
You and your family
What are the family types in the Caribbean?
reorganized family. sibling family. extended family. nuclear family. single parent family.
