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Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption.

Foreclosure means that you didn't keep your end of the bargain to pay back a loan and the loan holder is in the process of taking the car or house back.

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โˆ™ 2013-11-23 01:28:18
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Q: What does foreclosure mean?
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Related questions

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!


What does it mean when in a foreclosure an order recalling sheriff sale is issued?

No


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.


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 is foreclosure help?

Foreclosure help is advice and help you can get from an organization or service that will help you through a foreclosure or help you stop a foreclosure. Foreclosure Help and Hope is an organization that can help.


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 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.


Can your landlord evict you if his house is under foreclosure?

Yes. Until the actual foreclosure sale happens, he owns it. I'm not sure what you really mean by 'under foreclosure', anyway. That could be any stage of the process, and you can't be sure that the sale will really happen.


Can a lien lead to foreclosure?

Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/


What is the best recommended foreclosure website?

There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate


What does writ stayed 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 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 is a consent judgment in a foreclosure?

A consent judgment in a foreclosure is whereby a borrower with a pending foreclosure agrees to get into a judgment for foreclosure. This will not require further legal representation.


Can a mortgage borrower apply for court foreclosure?

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.


Can you save a property in pre-foreclosure?

I'm pre-foreclosure. .complain under rule 1.110 (b) was amended to requiere the verification of residencial mortgage foreclosure. The foreclosure involves my primary residence and is not verified


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.


Can you do Deed in lieu after foreclosure?

deed in lieu after foreclosure?


What is the difference between preclosure and foreclosure?

Be aware that a pre-foreclosure property is not necessarily for sale. The pre-foreclosure stage is the period between the time in which a Notice of Default (in non-judicial foreclosure) or lis pendens (in judicial foreclosure) has been issued to the homeowner and after the property is sold at a foreclosure auction.


What does resale mean in real estate?

In real estate, there is what they call pre-foreclosure selling of properties - wherein the owner, who is nearing foreclosure - could resell the property to a prospective buyer in cooperation of their lender / bank. This is to save the credit of the owner and avoid foreclosure that may damage their credit record.


What happens to your down payment in foreclosure?

The money is gone after foreclosure.


Do banks or homeowners have foreclosure auctions?

Lenders will occasionally have foreclosure auctions. Homeowners will often sell their property to avoid foreclosure.


Are you still liable for mortgage after foreclosure?

Only if the foreclosure is a court-ordered foreclosure.AnswerThe mortgage is extinguished by a foreclosure proceeding and sale but you may be liable for any deficiency and costs relating to the sale.


Does a Deed in lieu of foreclosure affect credit the same as a foreclosure?

Deed in lieu of foreclosure is not nearly as devastating to your credit as is a full foreclosure. Below is an article about the pros and cons of deed in lieu.


Where can I find free foreclosure listings for Charlotte, NC?

Free foreclosure listings can be found at www.freeforeclosuredatabase.com. This includes government foreclosure listings.