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Fore-closer is when you miss a year or more of mortgage payments in a row and the bank will send you papers. if you don't make a payment after the letters, you loose your home. (would not want that to happen to me)
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∙ 13y ago
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Forecloser with a second mortgage?
what can I do if i don't have all the money they are asking for up front?
Your soon to be ex husband owns your home your name is not on the loan if the house goes into forecloser can you bid on the home?
You still are an economic entity, and so may not be able to reclaim the home. On a personal level, it may be best to just let the house go and move on.
A mortgage broker forged my husband's signature on a POA put our home up for collateral and now our home is in forecloser by Bank of America. What should we do?
You should tell your story to your local district attorney ASAP. You should also report it to your state attorney general. You should contact your state representative. This is a criminal matter.
Can the mortgage company garnish wages after a forecloser?
== One of the more common fears among homeowners facing foreclosure is that the bank will suddenly start garnishing their wages in order to pay back the loan. With how far behind some homeowners fall, this fear can result in the anticipation of their not having enough money to pay the bills, keep the lights on, or feed their children. Especially if the income situation has deteriorated quite a bit, there may just not be enough money to pay the mortgage at this point. However, the good news is that banks can not garnish a homeowner's wages during the foreclosure process. The very simple reason for this is that the real estate is collateral for the loan -- no other assets or future income source is pledged. If a car loan goes into default, the car is repossessed first; same with a mortgage in default: the bank can only take back the collateral that is pledged on the loan and there is no recourse to any other asset or income source. Thus, the bank will have to take the property all the way through the foreclosure and have the court order it to be sold at a county sheriff sale. This auction is the legal mechanism by which the bank is allowed to attempt to recover the amount it is owed on the loan. If the sheriff sale pays off the mortgage in full, there is nothing further to collect. If the property does not sell for enough to pay the loan off completely, some states allow mortgage companies to sue for a deficiency judgment after the foreclosure. Again, not all states allow this under the foreclosure laws, but it would give banks the right to garnish wages after the foreclosure, if they decide to sue for the judgment. But again, this comes only after the sheriff sale, and there would be no wage garnishment during the foreclosure process itself. Banks rarely, if ever, sue former clients for deficiency judgments, though, because they know foreclosure victims do not have a lot of extra cash to pay down another judgment after losing their homes. It would take the bank too much time and money to sue again, when they did not collect very much on their original foreclosure lawsuit. Lenders, of course, do nothing to dissuade homeowners from having the fear of wage garnishment. In fact, being sued after foreclosure, and the threat of losing their job, income, or other assets is often used by customer service representatives of mortgage companies to compel homeowners to keep making payments, even if they can not afford to do so. But foreclosure victims do not have to fear that the bank will come after their income during the foreclosure, and will not have to worry about the possibility even after losing the home. =
How long you can live in Florida when your house on forecloser?
how can you stay in your house when on forecloser
You are renting a house in forecloser how do you buy it?
i am renting a house in forecloser and i need info on how to buy it. who do i contact?
How do you say foreclosure in Spanish?
Forecloser
What is the first thing you can do to stop forecloser?
Arrange to pay the arrears.
Is 27 29 lisbon st providence ri on forecloser?
yes
a grant to save my house from forcousler?
a grant to save my house from forecloser
If your house goes into forecloser can you work out a better deal with the lender?
Maybe. And maybe not.
Can you refinance after forecloser?
After a foreclosure you no longer own your property. You have nothing left to refinance.
Forecloser with a second mortgage?
what can I do if i don't have all the money they are asking for up front?
How will a forEcloser effect my credit?
Its probably the worst individual thing in A credit report, Depending on how your credit is otherwise, It may or may not be devistating.
CAN you STAY for a while in a house to be foreclosed?
Typically, staying in a house that is being foreclosed upon is not recommended as it can complicate the foreclosure process and could result in legal consequences. It is best to consult with a legal professional about your specific situation and options.
Can a co executor sell a house that is still in probate and possible a pending forecloser?
With the permission of the court, certainly. And you can't get out of probate until something is done with the house.
