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What happens when you have your mobile home repossed an you still owe money?
Wiki User
∙ 15y ago
do you owe money for a mortgage with a bank. if so then that is why the bank repossed your property in the first place, and the sale at auction will be at a price where the bank sells your house for the amount of the note you have with them. if you owe money to credit cards you are still liable to pay . any other bills you have no matter for whatreason you owe them, the only out you have is to declare bankrupcy and all your bills will disappear, if you want you can reapply for credit cards after 2 years and start all over again.
Wiki User
∙ 15y ago
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What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
What happens to the direct deposit of my payroll if my house is foreclosed?
Nothing happens. You still get the money in your account. They just want the house, not your money.
What happens if your car loan is approved but you still owe the dealer money?
You will have to prove to the dealer that you are waiting to get the money. Show the dealer your loan approval documents.
What happens when you put money in a savings account?
It is recorded that the money is yours but your money is still in circulation. It isn't like a safe which holds each persons individual money. Your money could be used for someone else to withdraw their saving account, but your money is still available to you. When you get it back it just won't be the same exact coins or notes that you put in your savings account.
If you foreclose on your home and proceeds are not enough to pay the first and second mortgage what happens to the second mortgage lien?
You still owe the money to the mortgage provider.
What recourse does lender have after a repossed vehicle is sold and there is still not enough money to satisfy loan?
did you mean resource? The lender has authorization called lean to hold your property after a loan debt.
What happens to payments made after a car is repossed?
Payments made after a car is repossessed will no longer be returned to the debtor. In fact, the lender can still require the debtor to pay the remaining balance of the loan.
What happens if your mobile home is repossessed voluntarily?
You may still end up owing a lot of money on it ,and you won't have it ! State laws vary on this - better to negotiate a settlement of some kind.
You cannot make the rest of the down payment and the dealer wants the car back do they have to give us back your trade?
In Chicago, IL if your car is repossed by the dealer do you still have to pay back the money for the car?
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
What happens after a car is repossed?
If a car is repossessed due to the payments not being met then there is a period of time where the repayments can be sorted, or if not the car will be sold to recover as much money as possible. Any outstanding debts will still need to be honored and finance companies often have power to sell your home to recover the debt. It is possible to get good insurance to cover this scenario.
What happens to the direct deposit of my payroll if my house is foreclosed?
Nothing happens. You still get the money in your account. They just want the house, not your money.
Can a lender charge you interest in Michigan on the remaining balance of a car repossed?
It is still a loan. as long as you owe, interest accrues.
Can you be sued if you let your mobile home be repossessed?
You can be sued by the finance company to recover any money still owed to them after they auction the repossessed mobile home.
If you own your mobile home what happens if you are evicted from the mobile home park you are renting a lot from and you dont have the money to move it?
The home is still yours, therefore you still have to pay rent as long as it sits there. But you have been evicted, so you cannot live there. Best bet is to see if the park will buy it or find someone to buy it. Get what you can for it. Or if its not worth alot to you, abandon it. This happens more than you would think. BTW, they are called "mobile homes" but they are not as mobile as you might think. They cost about $8K to $12k to move (tear down, move, set-up). If this home is really old it may fall apart.
What happens if you have a wreck without auto insurance and still money to the bank?
You'll be ticketed for driving with an invalid registration and driving without insurance, and you still owe that money to the bank.
What happens when you pre order an album 5 days late?
I think you will still get your money back :)
