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What rights are available to the person that has a lien second to the bank on a property that has already sold at a foreclosure sale?
Gime5
Hate to tell you, but in WA, none. The senior lien has already foreclosed, any any junior lien (including deed of trust or mortgage) was foreclosed with it.
Wiki User
∙ 15y ago
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How can a person or group contest a foreclosure of their property?
A person or a group can contest the foreclosure of a piece of property by contacting an attorney. This is the best way to get information about property.
How Foreclosure works?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
How does foreclosure work?
Foreclosure occurs when a person is unable to make payments on a property. The bank, which owns the rights to your property, can choose to overtake the property and kick you out.
Can a foreigner buy a property in an auction for foreclosure?
Yes. A person does not have to provide proof of citizenship to purchase real property in the US.
What is the meaning of mortgage foreclosure?
Mortgage foreclosure is a process by which a person, who has a mortgage on land, legally sells that same land. A mortgage can be defined as a property loan.
What are your rights as a renter in Georgia when the current property is in foreclosure?
If you are the Rent-ie (The person who is renting from the owner) or the Renter (The person who owns the property) Rentie- Nothing Renter- Its like a normal property.
What happens if the person filing for foreclosure dies?
A person doesn't "file for foreclosure". A bank or other lender takes possession of property by foreclosure procedure after the owner (mortgagor) of the property has defaulted on the mortgage. The procedure varies in different states. If the mortgagor dies during the foreclosure proceeding the lender can continue the foreclosure process against the estate. The death of the mortgagor may delay the proceedings until the heirs have been given notice of the foreclosure, depending on how far along the foreclosure has progressed. If the mortgagee (lender) dies during the foreclosure proceeding their estate representative can continue the foreclosure once appointed by the court.
Can you still stay in a foreclosed home?
Once a property has been foreclosed upon, the new owner takes possession and you generally cannot continue to stay in the home. It is important to vacate the property before any legal action is taken against you.
Who owns the house when a foreclosure has been dismissed without prejudice?
The person named in the current deed owns the house but the property is subject to the mortgage. The bank may be able to clear their title problems that led to the foreclosure being dismissed and file the foreclosure at a later date if it remains in default.The person named in the current deed owns the house but the property is subject to the mortgage. The bank may be able to clear their title problems that led to the foreclosure being dismissed and file the foreclosure at a later date if it remains in default.The person named in the current deed owns the house but the property is subject to the mortgage. The bank may be able to clear their title problems that led to the foreclosure being dismissed and file the foreclosure at a later date if it remains in default.The person named in the current deed owns the house but the property is subject to the mortgage. The bank may be able to clear their title problems that led to the foreclosure being dismissed and file the foreclosure at a later date if it remains in default.
How does a foreclosure affect an investor purchasing a property at auction?
the person could go into a lifetime of debt....NOT GOOD!
What is a new owner's relationship to the prior owner-occupant after a foreclosure sale?
The title is in the name of the person who purchased it at the foreclosure sale. Once the foreclosure deed is recorded the debtor has no right whatsoever to occupy the property. The new owner has no relationship or obligations to the debtor. The person who has had their rights to the property foreclosed has had abundant notice of the foreclosure. They should make arrangements to move out prior to the sale and make arrangements to remove their personal property before the sale. Once that deed is recorded they are trespassing if they enter the property unless the new owner has made an arrangement with them, in writing.
What is a third party sale in real estate?
Third party refers to the person or entity who buys a property at foreclosure.
