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You basically get kicked out onto the streets...
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∙ 14y ago
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What are some benefits of buying a foreclosed home?
There are a few benefits of buying a foreclosed home. Foreclosed homes are generally cheaper than non-foreclosed homes. One can also negotiated for a better deal with a foreclosed home because banks want to sell the home quickly.
What happens if you do not pay your property taxes while getting ready to have house foreclosed?
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
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).
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.
Is it bad to buy a foreclosed home?
yes
What are some benefits of buying a foreclosed home?
There are a few benefits of buying a foreclosed home. Foreclosed homes are generally cheaper than non-foreclosed homes. One can also negotiated for a better deal with a foreclosed home because banks want to sell the home quickly.
In default 6000 on a home loan can it be foreclosed?
A home can be foreclosed on if the terms of the loan are violated. The amount does not matter.
What happens if you do not pay your property taxes while getting ready to have house foreclosed?
You will no longer be responsible. The bank will have to worry about that after they foreclose your home.
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).
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.
Is it bad to buy a foreclosed home?
yes
What items can you take out of your foreclosed home?
toilet
Should one buy foreclosed homes for sale?
There is nothing wrong with buying foreclosed homes. A professional should be hired to inspect the home and find out what kind of repairs will be needed. There are pros and cons with purchasing a foreclosed home.
What happens when you have 2 homes one in your name and one in yours and your wife's name and the first one gets forclosed on?
You lose that home, whoever had their name on the foreclosed home has a blight on their credit, and will be liable for any money not covered by the eventual resale of the home by the lender. Nothing happens to your other home.
How can you protect your attached home when your neighbor is foreclosed on?
Protect your home from what? What do you mean by attached home?
Is an Escrow Analysis conducted when a home to to be foreclosed?
yes
Who satisfies liens on foreclosed property?
The person responsible for the liens must satisfy the liens. When a home is foreclosed on, the liens are removed before the next buyer purchases the home.
