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What to do when the house you are renting goes into foreclosure?
Wiki User
∙ 9y ago
You may want to find another place to live. There could be some real ugliness involved in the process if the owner tries to contest things.
Wiki User
∙ 9y ago
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What happens after a house goes into foreclosure?
you get kicked out and you live outside instead of inside
What happens if your house is in trust and goes to foreclosure?
What happens? the bank forecloses of course. The fact that the house is in a trust doesnt change anything.
Can you put a house for sale in foreclosure?
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
If our house goes into foreclosure can the banks still get their money from you ?
foreclosure is a conditon where a lender (the bank) acquires title to and uses the value of the property to offset the outstanding balance of the loan. If your property goes into foreclosure you will LOSE ownership of that property but will also no longer owe the unpaid balance of the loan. This is called 'defaulting' on your loan.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
If your renting a home in foreclosure when do you stop paying rent?
Not until there is a foreclosure sale.
What happens after a house goes into foreclosure?
you get kicked out and you live outside instead of inside
You are renting a house making payments the landlord is filing bankrupt what will happen to the house?
The property may go into foreclosure, but that has nothing to do with the tenant. Until there is a foreclosue sale, the tenant is obligated to pay rent to the owner.
What happens if your house is in trust and goes to foreclosure?
What happens? the bank forecloses of course. The fact that the house is in a trust doesnt change anything.
When does a bank issue a foreclosure notice?
Usually after 3 months of not making payments on your mortgage or rent, you will get a foreclosure notice. If you are renting its usually sooner.
Can you put a house for sale in foreclosure?
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
If our house goes into foreclosure can the banks still get their money from you ?
foreclosure is a conditon where a lender (the bank) acquires title to and uses the value of the property to offset the outstanding balance of the loan. If your property goes into foreclosure you will LOSE ownership of that property but will also no longer owe the unpaid balance of the loan. This is called 'defaulting' on your loan.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
I am renting rooms in my brother's house in foreclosure Am I entitled to 60 days after trustee sale?
It is possible. For specifics you you will need to check your local jurisdiction's laws and statutes covering "Landlord/Tenant Law.
How many days i have to move aout after foreclousure on the house the y am renting?
That depends on the laws of the state. Some notice from the bank is required, and some states recognize a lease as being preserved after foreclosure.
Should you take all the contents out of your house before it goes up for foreclosure auction?
Only if you want to keep the items.
Once your home goes to foreclosure is the home owner responsible for any taxes?
Answerregardless the house goes into foreclosure, you are still responsible for any unpaid taxes and you are also responsible for any liens.Once the foreclosure sale has taken place you are no longer responsible for the taxes. In most if not all jurisdictions the property taxes run with the land.
