0
If your home is in foreclosure and your bank tells you to make a payment this will stop the foreclosure but they won't give you it in writing that this will stop foreclosure do I trust the bank?
Wiki User
∙ 14y ago
Absolutely, positively not! To be legally secured you must have a written agreement signed by all involved parties that stipulates all the terms included in the transaction.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Judgments - can they take your house?
While any judgment can attach against real property, only a judgment and decree of foreclosure can result in the foreclosure of real property. Decrees of foreclosure are only added to judgments as a result of non-payment of a mortgage or deed of trust, or other security instrument.
Can you modify a Deed of Trust in Maryland while in foreclosure?
No.
Can I trust the bank that tells you to make a payment to stop foreclosure on your home but they won't give you it in writing?
Although getting an agreement in writing is always best, your bank probably still has good intentions. If they establish a workout plan and tell you that making a payment will stop the foreclosure, then it should stop the foreclosure. I have seen many cases where the lender will not put anything in writing until you show good faith by making a payment. In every case (so far), they kept up their end of the bargain. But don't expect it to be easy after you make a payment. The customer service reps are very over worked and in most cases, they don't do a very good job at helping their clients. You will need to follow up and eventually get everything in writing. Unless you are ready to lose your home, go ahead and make the payment, but make sure you get the name and employee number from the Rep. who you made the deal with. If they won't put it in writing, you should record the conversation if possible. Also keep in mind: many times, reps will make a deal they are not authorized to make, so you may want to get a second verbal agreement from their supervisor, just to make sure it's real, and you'll have a second person to help validate your case, if something does go wrong. As always, I would recommend finding professional help to negotiate a workout agreement, but if your lender is extremely cooperative, you might be able to do it on your own.
What happens to the first Deed of Trust when the second is in foreclosure?
SInce the first is in a superior position, nothing happens to the first. Any purchaser at the foreclosure sale would then have to pay off the first deed of trust.
What happens to the second deed of trust if the first deed of trust is in foreclosure?
Nothing essentially happens to the 2nd deed of trust unless the property actually goes to sale and the foreclosure does not get cured by either the Trustor or the beneficiary of the 2nd deed of trust. In that case the 2nd deed of trust would cease to exist and drop off title at time of the sale of the property.
What happens if your house is in trust and goes to foreclosure?
What happens? the bank forecloses of course. The fact that the house is in a trust doesnt change anything.
What financing instrument does not require a judicial foreclosure in case of default by the borrower?
deed of trust
If a house is in a trust and the person that owns the trust dies and that house goes into foreclosure and there is no assets in the trust prior to foreclosure can they come after anything else?
The bank will take possession of the property. If the mortgage was granted prior to the property being transferred to the trust the bank may try to attach assets of the mortgagor/decedent for any deficiency. If granted by the trustee only the trust assets are vulnerable.
How do you trust a boy who is in love with you?
You trust him like you would anyone you trust; don't second guess him when he tells you what he will do, how he feels, etc.
Is Washington a non-recourse state?
Note that Washington state law allows for a choice of remedy - nonjudicial (quick) foreclosure, no deficiency; or judicial (slow) foreclosure, with deficiency available. Rev. Code Wash. 61.12.050 additionally provides "When there is no express agreement in the mortgage nor any separate instrument given for the payment of the sum secured thereby, the remedy of the mortgagee shall be confined to the property mortgaged." So borrower has to have agreed that deficiency is available. Washington law also provides that for loans secured by deeds of trust (rather than by mortgages), which means virtually every residential loan, "Except . . . for deeds of trust securing commercial loans, a deficiency judgment shall not be obtained on the obligations secured by a deed of trust against any borrower, grantor, or guarantor after a trustee's sale under that deed of trust." Non-judicial foreclosure of consumer deeds of trust are far and away the most common in Washington. per Mark
Can you trust advertisement which tells us you won something?
NO
Do you trust your own mind?
You really should trust what your mind tells you cause its always right.
