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What else can I help you with?
What happens to the remaining mortgage balance if your house is foreclosed on and sold for less than the balance of the mortgage?
The amount that the bank forgave the difference from what you owed and the house is worth will be issued to you on a 1090 form and you will owe tax on that amount.
If your house is foreclosed upon can your bank go after your other house?
No. The money you borrowed was secured by one home; not your other home, not your car, not your furniture. If you still owe money when the house is eventually resold, they will come after you for that money, usually in the form of a judgment.
How do you give a foreclosed house back to the bank?
When the bank foreclosed on the house, they took it back. Now it's time to move out.
Can you rent a house you were foreclosed on?
No, I can't
Can you buy a house for cash if your house is being foreclosed on?
Yes you can
What happens when your home forecloses and the lender sells it for less than what you owe?
You still owe the balance (the amount you owed minus the amount the lender sold the foreclosed home for).
When a house is auctioned do you owe the balance of the mortgage after it is sold?
If the home was foreclosed on, you are still liable for the balance on the loan. Depending on the circumstances, some investors may not want to pursue it if the cost to collect exceeds the amount being collected.
How can you buy a house after it has been foreclosed and not sold at auction?
You can contact the lender or lien holder who foreclosed on the property and make your offer to them.
If you pay the taxes on a house that has been foreclosed does that mean you own it?
No the bank owns the house.
How do you know when a house is legally foreclosed?
I;m new to this but I'd say when they changed the locks on the house...
How do you report a person stealing from a foreclosed house?
Dial 911 and report the crime.
Does a house go into foreclosure for lack of homeowner payments?
At the discretion of the lender, a house can be foreclosed after a period of missing payments.
