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The investor should find all liens that would be attached to the property and must be paid off by the new homeowner. Additionally, the investor should know who forecloses on the property: 1st lien, 2nd lien, Homeowner Association or any other judgment or lien holder. The title search will show all of the required information to make a rational decision.
More answers can be found at the link below:
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What else can I help you with?
What is the time frame between foreclosure and sheriff sale?
The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.The foreclosure process culminates with the foreclosure sale. In some jurisdictions the sale is conducted by a sheriff. One can say the foreclosure has been done when the sheriff's sale has been conducted. There is no time frame between the foreclosure and the sheriff's sale.If you want to know the time frame between the initial notice to foreclose and the foreclosure sale, you need to check in your particular jurisdiction. Times vary.
Does a pending short sale stop foreclosure?
ProTitleUSA will help you in this matter on a professional level!
How do I know if my home was sold at a foreclosure sale?
Such sales are a matter of public record and the information needed can be obtained from the county assessor's office in the county where the property was located. Some states have access to such public information on their websites.
How do you know if a house listing is in foreclosure?
You find out if a house is in foreclosure when it up for sale by calling the housing agent. They should be able to provide this info to any interested buyers.
Will a loan modification application stall foreclosure proceedings?
I know of people who applied for the modification but all the while the mortgage company proceeded with the foreclosure. So, yes they still will foreclosure apparently. Its like one hand doesn't know what the other is doing. the individuals that I know had to file chapter 13 bankruptcy to stop the foreclosure sale from happening
The Basics Of Foreclosure Laws?
Foreclosure is a grim factor that many people are facing today all over the nation. Banks or lenders will often try to take advantage of a situation they feel they can, so it is important for consumers to know their rights. Each state's foreclosure laws are different; what may be legal in one state will be illegal in another. For this reason, consumers must learn their own individual state's foreclosure laws to understand the proceeding. There are several factors that are involved in foreclosure in each state that must be known. Judicial and non-judicial foreclosure are two factors that are variable. Nearly every state includes judicial foreclosure, which allows the lender to file a lawsuit or sell the property, providing that the mortgage document or Deed of Trust did not include a power of sale clause. Non-judicial foreclosure is related to the power of sale clause. This wording is included in some documents, allowing the sale of the property to the highest bidder, paid in cash. Before the sale is allowed to take place, each state requires that formal notice be printed in the relevant newspaper for several weeks. If a power of sale clause is present, there is usually a month allowance of time after the last publication was printed in the newspaper before the sale is permitted to take place. In contracts where a power of sale clause is not included, the extra time period is not always required. Foreclosure proceedings typically last between 30-180 days, depending on the individual states. States that have a higher population usually have a longer time allowance than less populated states, but not in every case. Another factor included in every state is the right of redemption. This is the right held by the consumer facing foreclosure to redeem their property from a tax sale within a specified amount of time. Some states do not have a right of redemption, while others do. This time frame, if present, varies and is usually about 12 months or less. Some states also have laws allowing deficiency judgments. These are detrimental to the consumer, demanding a balance due if the foreclosure sale did not meet the amount that is owed. Consumers who are facing a deficiency judgment charge must hire an attorney to fight it. Every consumer facing foreclosure has specific rights. To learn about rights and proceedings, foreclosurelaw.org is an excellent resource for information.
How do you know if a foreclosure proceeding on your home has been initiated?
Generally you will be given notice by certified mail that a foreclosure action has been initiated. In most jurisdictions the notice will be published in your local newspaper for successive weeks and will include the date of the auction. Once the property has been sold at auction it is no longer your property. You should already know of the impending foreclosure by the late notices you will have received from the bank.
I know that public sale means at auction. What is the definition of the term private sale versus public sale of real property in a will?
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How long does a short sale affect your credit?
Iam bout to lose my house soon, getting divorce!. is it recommended to do a short sale? I am concerned about 1099-C taxes I have to pay to IRS and how bad my credit will be if I want to get a cheaper property later on. does enybody know how much afeccts short sales, is it better than a foreclosure! Thanks
Can your wages be garnished if in foreclosure?
Banks can not garnish a homeowner's wages during the foreclosure process. This is because the real estate is collateral for the loan. Thus, the bank will have to take the property all the way through the foreclosure and have it sold at a county sheriff sale. This is the legal mechanism by which the bank is allowed to attempt to recover the amount it is owed on the loan. If the sheriff sale pays off the mortgage in full, there is nothing further to collect. If the property does not sell for enough to pay the loan off completely, some states allow mortgage companies to sue for a deficiency judgment after the foreclosure. Again, not all states allow this under the foreclosure laws, but it would give banks the right to garnish wages after the foreclosure, if they decide to sue for the judgment. Banks rarely, if ever, sue former clients for deficiency judgments, though, because they know foreclosure victims do not have a lot of extra cash to pay down another judgment after losing their homes. It would take the bank too much time and money to sue again, when they didn't collect very much on their original foreclosure lawsuit.
How do you know indalex is closing in girard?
the plant is for sale. property number 15679254
How do you know a bank is being honest when you try to buy a foreclosure property and they say they have another bidder so go higher?
If it is a regular sale negotiation, the potential buyers will not know for sure what other potential buyers have offered for the property. Offers can be kept confidential between the buyer and lender, unless either party wants to disclose to another person the amount of the offer. Thus, there is no way to know for sure if the bank has another, higher offer for the same property in foreclosure. Either call the bluff by walking away, or submit a better offer if it is still within your price range. In a foreclosure public auction, where properties are bid on for the highest price, the bids are usually taken out loud or read aloud by the county sheriff, and the highest bidder wins -- there are no other negotiations.
