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If a bank is on the brink of taking possession of a company, chances are the company is in financial trouble. When the bank does take possession it usually means that the company has gone into foreclosure. They will then sell the property and the company owners will need to settle their financial issues.
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∙ 9y ago
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What happens to the liens on a property if it is lost to foreclosures?
The liens are usually in place when the bank or loan company takes possession of the property. The company/bank can pay off all liens and clear the title for resale or it can be put to auction with leins in place. Monies from sale are first used to clear title before new owner can take legal possession. Regulations can be different depending on type of property and state.
Who takes over lawn care after you file bankruptcy on your house?
As long as you are living on the property and trying to save the home, you are responsible to maintain the lawn. If the bank takes possession , then a property management company will be brought in to take care of the property.
What happens if you don't pay the mortgage?
You would be in default of the mortgage and the bank will take possession of the property by foreclosure. You would lose your home.
What happens when a co signer dies and you stop paying on car loan?
bank takes back
When a car loan company go out of business what happens to your loan?
You continue to pay it as normal because your loan is thru a bank not the actual company, if your financing thru there company then you should be going thru a bank now.
What happens during a foreclosure?
After a default by the borrower the bank takes possession of the property and sells it.
What happens to the liens on a property if it is lost to foreclosures?
The liens are usually in place when the bank or loan company takes possession of the property. The company/bank can pay off all liens and clear the title for resale or it can be put to auction with leins in place. Monies from sale are first used to clear title before new owner can take legal possession. Regulations can be different depending on type of property and state.
Who takes over lawn care after you file bankruptcy on your house?
As long as you are living on the property and trying to save the home, you are responsible to maintain the lawn. If the bank takes possession , then a property management company will be brought in to take care of the property.
What happens if you don't pay the mortgage?
You would be in default of the mortgage and the bank will take possession of the property by foreclosure. You would lose your home.
What does a bank CEO do?
The CEO is ultimately responsible for everything that happens within a company.
What happens if a property is foreclosed and you have a life estate?
That depends on whether you consented to the mortgage. If you signed the mortgage you transferred your life estate to the bank during the period the mortgage was unpaid. If the mortgage went into default the bank can take possession of the property and wipe out your life estate. If you did not sign the mortgage the bank would take possession of the property subject to your life estate and your right to the use and possession of the property would continue.
What happens when a co signer dies and you stop paying on car loan?
bank takes back
When a car loan company go out of business what happens to your loan?
You continue to pay it as normal because your loan is thru a bank not the actual company, if your financing thru there company then you should be going thru a bank now.
What happens to property with a mortgage when the owner with a will dies?
The estate must be probated. Either the heirs need to pay the mortgage or the bank will take possession of the property by foreclosure.
Can real estate that was in a bankruptcy be considered Real Estate Owned?
REO is only used when a bank takes possession of a property via a foreclosure judicial or non-judicial.
Is a debit card another name for credit card?
No Debit card takes money straight away from bank account. Credit card makes a debt on card company, not your bank - then later the bank (or person) pays card company, plus interest sometimes.
What does it mean to nationalize a bank?
It is when a government takes over the bank or any other privately held company. This is also called central planning, but better known as socialism.
