The foreclosure of a condominium unit upon which you hold a mortgage should proceed like any other foreclosure.
YES. Condo Fees
Yes, until the bank is the owner. The fact you're in foreclosure doesn't change the fact utilities need to be paid as well as your staff. It's not only the bank that can put you into foreclosure; even your HOA/condo association can force the sale of your home due to delinquency.
You can expect to save a 30% or more.
Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.
Yes you can, but in most states you have to tell the potential tenant about this foreclosure.
You can expect to have a big hit on your credit rating. This will last as long as 5-7 years unless you hire a professional to rebuild your credit. You will most likely not be able to qualify for a home loan for at least that time.
Yes, any unpaid mortgage can put your home in jeopardy of foreclosure.
what is the time for foreclosure on a home in california?
Not until there is a foreclosure sale.
A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.
You are typically off the market for about 3-4 years after a foreclosure.
If you have the cash.