Generally a judgment lien can be executed against any real property belonging to the debtor. Seizure and forced sale of such property however is seldom possible due to the state laws governing the issue and the personal and real property exemptions allowed to the debtor/defendant.
Sure, if a creditor wins a judgment they can attach any of your physical assets whether it's real property or personal.
The executor of the estate has the option of continuing to pay the mortgage and thereby continuing to own the property (which is presumably a house) or selling it. When you sell a house that has a mortgage, some of the purchase price will go to you, based on your equity in the house, and some will go to pay off the mortgage. If there is little equity in the house, or if the housing market is very depressed, you may realize little or no profit on the sale of the house, but you won't have to continue paying the mortgage.
Yes it is possible to refinance your house if you have low equity. But you must have at least 20 percent equity before your refinance will be apporoved.
One can calculate how much equity they have in their house by using an online home equity calculator. Both Chase and MSN Money offer a home equity calculator that can be used for free.
Your equity in your house is the difference between what the house is worth, the fair market value, and how much you owe on it.
The address of the Connellsville Little House Society Inc is: 144 E Crawford Ave, Connellsville, PA 15425-3641
An equity line of credit is issued based on the amount of equity you have in your home. If you have a $100,000 house and owe $75,000 then you would have $25,000 in equity.
"The creditor came to the house to see what would need to be repaired after foreclosure"
Yes, in the state of Texas, a creditor can come right to your house if you owe debts. However, in other states, the creditor must first get court papers to just show up at your residence.
Home equity is something a homeowner builds in his house. When a person buy a house, they make payments on said house. Then over time, naturally a property becomes more valuable. So when a house is bought and you live there for 10 years you build equity in the house. To find out about equity in Florida, contact a Real Estate agent.
Equity release schemes are also called lifetime mortgages or reverse mortgages. They allow someone to take money out of the equity paid into their house and the house goes to the bank when they die.
Equity release is re-mortgage plan that makes it possible to release equity on a mortgaged property. But, as soon as the equity amount is paid, you have to clear all the outstanding mortgages on your house. There are some equity release providers who deduct the outstanding mortgages from the value of your house to repay the loan.