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Is it legal to take your central air unit from your foreclosed home?
Wiki User
∙ 13y ago
If you bought it yourself after you moved in, and before the house was siezed and sold.
Wiki User
∙ 13y ago
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What can you take from a foreclosed home?
You can take anything that was owned prior moving into the foreclosed home. Foreclose is a hard task and will not benefit anyone.
What items can you take out of your foreclosed home?
toilet
Were being foreclosed on will the bank come after us if you take out the cupboards and vanities?
were being foreclosed on our home. will the credit union come after us if we take out the cupboards and vanities?
Can you replace fixtures in a foreclosed home?
You can take all your personal property. You cannot take anything that is attached to the home such as built in appliances.
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.
Can you take your refrigerator from your home that was sold at foreclosure auction?
Yes you, can. When a house gets foreclosed, it is based on the house itself, not its personal furniture and items.
If you have an FHA loan and are in default can you ask FHA to take over your loan?
Hello, You can not ask FHA to take over your mortgage. The best thing you can do if you can not continue to make your payments is sell your home. If possible, you really need to do this before the home is foreclosed on.
Can a home be foreclosed if someone stops making payments on a second trust deed?
Yes. The second mortagee can foreclose and take possession of the property subject to the first mortgage.
Is it legal for a probation officer to take your mail from your home?
yes
Is it legal in Alabama to take home an unfinished bottle of wine from a restaurant?
No
If I own my home free and clear then purchased a 2nd home for my daughter who did not make the payments and is now in foreclosure can that mortgage co take my first home too?
Not unless you used your home as collateral to buy the 2nd home. If your home was not involved in the transaction they can not take it. Some states allow a lender to persue a borrower for defficiency balance if the foreclosed home sells for less than is owed, which means you could be sued and have judgments placed against you. Technically it is possible for lien to be placed on your home in some circumstances but it would be near impossible for a judgment to cause the home to be foreclosed (possible in theory but very very rare in practice). And filing for bankruptcy often foils even the most devious collector.
What Are Foreclosed Homes?
One thing that certainly has gotten a lot of media attention in the past few years is the controversy surrounding the practice of foreclosing homes. However, despite all this media attention, many people may still not be sure what the term foreclosed home actually means.A home foreclosure is a very specific event that is determined by finance agreements. It occurs when a house and surrounding property are used to secure a debt in the form of a loan. If the debt is paid off according to the terms of the loan, nothing happens to the home. The homeowners are allowed to continue living in it.However, in certain cases, the person that borrowed the money from the lender may default on that loan. This occurs when the borrower does not make payments on the loan within the timespan allotted by the loan agreement. When this occurs, the lender can take possession of the home that was used to secure that debt. It can then sell the home in order to compensate itself for the money lost on the loan.Usually, this relationship exists between the homeowner and the bank. In most cases, the loan made is a mortgage that is used to pay for the purchase of the home. If a person does not make their mortgage payments, this can result in the home being foreclosed upon.When foreclosed homes are put up for sale, they are usually offered for much less than they would be under normal market conditions. The reason for this is simple. Homes offered at lower prices tend to sell a lot quicker. The lender does so to make sure it makes back its money from the loan as quickly as possible. Sometimes this price reduction can be as high as 50 percent.Laws that determine how a foreclosure can take place vary from state to state. The laws that regulate the purchase of a foreclosed home are also often different from the laws that regulate the purchase of a home that was not foreclosed upon. For example, in certain circumstances such as an auction for a foreclosed home, a person may not be allowed to inspect the home beforehand.
