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What right does a mortgagee have to inspect the property before filing foreclosure?
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What happens to your credit if your house was foreclosed?
It depends on how a mortgagee's credit was before the foreclosure, but a drop of several hundred points is common. Foreclosure makes its greatest impact for the first three or four years and remains on a report for seven.
What is the difference between a foreclosure and short sale?
A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.
Is foreclosure done quicker if home has been discharged in bankruptcy?
A home is not discharged in bankruptcy. The mortgage(s) and home equity loans, lines of credit, etc., are discharged, but you have to abandon the real estate in the bankruptcy. That means the mortgagee can go ahead with a foreclosure if there was none before the filing, once the Chapter 7 is closed. Chances are the mortgagee would ask for relief from stay to go ahead with the foreclosure. The trustee may get any excess from the sale, unless it was exempted.
How long befote foreclosure after docket mumber is established?
The time frame for foreclosure proceedings can vary depending on the state and the specific circumstances of the case. Typically, once a docket number is established, the foreclosure process can move forward relatively quickly, usually within a few months. It is important to consult with a local attorney or foreclosure expert to understand the specific timeline in your area.
Can you stop the property from going to foreclosure 2 days before it will be foreclosed on?
Yes, by paying the back payments. Also, filing bankruptcy prior to the foreclosure will normally put a hold on the foreclosure proceedings.
Can the prior owners of real property in Florida have a redemption period after the foreclosure sale of property?
No, Florida foreclosure law states that the homeowner has the right to redeem the property anytime BEFORE the day of the sale. After the Certificate of Sale has been issued, there is no right of redemption.
How long is a property on short sale before it goes into foreclosure?
If you stop paying you mortage how long does it take before the bank will forclose
Should the insurance co inspect before they give you the policy?
An Insurer will generally have a specified amount of time in which to inspect an insured property. It can be done after the policy is issued.
How long after foreclosure do you have to vacate your home in California?
In California, after a foreclosure sale, the new owner can typically initiate eviction proceedings to have the occupants vacate the property. The exact timeline can vary depending on the specific circumstances and any legal actions taken by the former homeowner. However, occupants are usually given a notice to vacate the property before being forcibly removed.
Condominium foreclosure by hoa in Florida?
It's unclear from your question who owns the property, who is foreclosing on the unit and the reason for the foreclosure. If you own the property, and you owe money -- either to a lender, to a tax authority or to the association for over-due assessments -- foreclosure should not be a surprise. Foreclosure is usually accomplished either by a lender, a tax authority including the IRS, a co-owner, or the association. Before action for foreclosure begins, the owner has been notified, warned, advised and otherwise informed of options in lieu of foreclosure, but that foreclosure is a possibility. If not before now, the foreclosure action has your attention. You can attempt to work out a different result with whomever has taken the foreclosure action, which may prevent you losing your residence.
Can you inspect a foreclosure property before buying it?
Ya of course you will have the option of inspecting the property. Its your right to check the property before you buy it. For that purpose you need to contact the banker who has given the auction notice. if you are from india There is a good blog foreclosureindia.blogspot.com if you have any more queries regarding foreclosed properties to help you out. and if you are intrested in buying any fore closed properties in INDIA foreclosureindia.com give you all the details . . im a registered user and it helped me. Thanks & Regards.
How long after delinquent property taxes are due can they make you move?
The process and timeline for property tax foreclosure varies by location, but typically, property owners have a grace period of several months to years to pay delinquent property taxes before facing foreclosure. Once the property goes into foreclosure, the timeline for having to move out can vary but is usually anywhere from a few months to over a year, depending on the specific foreclosure laws in the area. It is important to consult with a local real estate attorney for precise information regarding your situation.
