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What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
What does the term foreclosure mean?
The term foreclosure means that when a loan is not paid on time, the lender has the authority to take action on the collateral assets the borrower listed to secure the loan.
What does it mean Foreclosure hold state?
Foreclosure Hold State signifies the ability to place a foreclosure action on hold. Meaning if there is a typical borrower forebearance review, litigation/contested action, the foreclosure is placed on hold to allow time for forebearance or contested action to be reviewed. Saves both borrower (if attempting to reinstate/payoff loan) and Servicer, with avoidance of fees/costs accumulating due to foreclosure actions.
What does foreclosure of a house mean?
Foreclosure on a house means that the previous owners did not have enough money to pay for their mortgage and therefore could not afford to maintain it properly, so the bank takes ownership of it.
When is a bond par value generally repaid?
A bond is a type of a debt security, the approved issuer owes the holders a debt. The repayment period is often an agreement between the issuer and the holder.
Can you get approved for a home after foreclosure?
You are typically off the market for about 3-4 years after a foreclosure.
How can I purchase a home that is in foreclosure?
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
What does 'case disposed' mean in regard to a foreclosure case?
It means that the legal aspect of the foreclosure has been finished.
What does dismissed without prejudice mean when you are in foreclosure?
dimiss the foreclosure action without prejudice and release the lis pendens! what does this means please!
Is my 401k and IRA protected from foreclosure?
If by "foreclosure" you mean that the mortgage lender is taking your home back, yes they are prtected. However, if you really mean BANKRUPTCY, no, they are NOT protected, since they are assets you can use to reimburse your creditors.
What does va approved mean?
Veterans Affairs or Veterans Administration approved.
What does bond pending mean?
waiting for the bond man to pay the the bond.
What is a foreclosure dismissal?
Foreclosure dismissal is a simple foreclosure challenge that can be filed to the foreclosure complaint even without an attorney.Added: A foreclosure dismissal is a court order dismissing a foreclosure action.
What does it mean for it to be ratified?
approved
What does order to docket mean in court?
Is the initial documents filed with courts to initiate a foreclosure in Maryland. It's equivalent to a Notice of Default which too is filed to initial foreclosure.
What does 'writ' mean?
Writ stayed means that the court has decided to discontinue a specific action. In foreclosure proceedings writ stayed means the court has stopped the foreclosure process.
What does the term foreclosure mean?
The term foreclosure means that when a loan is not paid on time, the lender has the authority to take action on the collateral assets the borrower listed to secure the loan.
