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When a bank seizes and sells a home to get as much of its loan back as possible?
Wiki User
∙ 12y ago
That is known as foreclosure.
Wiki User
∙ 12y ago
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Is a house mortgage a secured debt?
Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.
Is it possible to use Debit card of Bank of China in Macau?
No, it is not possible to use debit card of bank of china in Macau.
How do I cash in a savings bond?
Go to your bank. Sign the back. The teller will assist you. If the bond has not matured, wait until after the first of the next month, if possible.
Where is Yorkshire bank?
Yorkshire Bank is a bank that is based in England. However, it is possible to access branches of this bank which are located throughout the United Kingdom.
What are the responsibility of a bank treasury front office and back office officer?
what is a bank treasury back office officer
WHEN SOME ONE FAIL TO PAY THE LONE OF BANK?
Bank loans are usually secured on the person's property. If the borrower fails to pay the loan back to the bank - the bank simply 'forecloses' on the loan - and seizes ownership of the property.
Which bank sells tirupathi laddu?
andhra bank
What is the difference between the Lionel Train Bank which sells for 19.95 and the Lionel Railroad Crossing Bank which sells for 29.95?
i think its Diego moreno.
Is a house mortgage a secured debt?
Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.
Once the bank sells the car you are responsible for the balance due can the bank put a lien on your home if you don't pay that back?
ONLY after getting a judgment for the balance due can the lender persue any other legal options.
How is abandon property treated in Alabama?
The bank takes it, sells it.
What happens to your credit when you give a car back to the bank?
You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.
What happens during a foreclosure?
After a default by the borrower the bank takes possession of the property and sells it.
You let your RV go back to the Bank will you receive a 1099 form for the different after the bank auction it off?
If it sells for less than was owed, AND the bank cancels the remainder due (they don't have to, they can look to collect the difference and pursue you for years for t...garnish. attach, etc), the amount they cancelled is income to you and they should send you a 1099-C.
Is it possible to use Debit card of Bank of China in Macau?
No, it is not possible to use debit card of bank of china in Macau.
What is a Ready forward deal in India?
The Ready Forward is in essence a secured short-term (typically 15-day) loan from one bank to another. Bank has some securities deposites at RBI.The borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan, typically at a slightly higher price,as a pawnbroker lends against jeweller.
Can you take over another persons mortgage?
It is possible in some cases but must be done with the bank's approval. The bank would require you to sign an assumption agreement.It is possible in some cases but must be done with the bank's approval. The bank would require you to sign an assumption agreement.It is possible in some cases but must be done with the bank's approval. The bank would require you to sign an assumption agreement.It is possible in some cases but must be done with the bank's approval. The bank would require you to sign an assumption agreement.
