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In the rare case that there is money left over after payoff of the note, penalties, taxes, and the fees involved in the foreclosure and auction, the second mortgage and other liens can then be paid off, and if there is still money left over, the home owner will receive the excess equity because the banks and lawyers have already been paid what they are owed.
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What happens to the all the money collected on a house if sold in a foreclosure sale?
The mortgage company gets the money.
Can you take your refrigerator from your home that was sold at foreclosure auction?
Yes you, can. When a house gets foreclosed, it is based on the house itself, not its personal furniture and items.
If you close an auction on howrse do you still get the money and the bidder get the horse?
No, if you close the auction on howrse you don't get the money and the bidder gets the horse.
Owe 65 thousand to first mortgage 40 thousand to second mortgage but second mortgage is foreclosing how will first mortgage get there money?
In foreclosure proceedings the 1st mortgage gets their money first. Either the 2nd mortgage will have to buy the 1st mortgage entirely and then sell your house or they will have to hope that whoever buys the mortgage at auction, will bid enough to pay them off.
Why did Justin bieber get his hair cut?
Actually he cut his hair for his charities hes selling his charity on and auction and with the money that he gets he donates it to charities
What amount of time would be needed to complete a foreclosure?
To complete an foreclosure it depends on the amount of information you give over at the start, and if there is anything else that needs to be added as soon as the foreclosure gets put into the system.
If your home was sold at foreclosure auction above the amount due to the mortgage company what is the procedure to get the balance sent to you?
The purpose behind a foreclosure sale is to enable the lender to recover what you owe. You are entitled to any surplus funds after the lender recovers what you owe, pays all the fees relating to the foreclosure and pays off the balance of any junior liens, property taxes and municipal charges.You need to check in the jurisdiction where the property is located to determine the procedure to claim the overage in your state. In some states the excess is turned over to a county trustee. In others a check is sent to the mortgagor. There are many cases where debtors had built up equity in their property and there are attorneys who handle this type of claim.In Massachusetts for example, the lender must provide to the mortgagor an itemized accounting of the disposition of the proceeds from a foreclosure sale within 60 days of receiving those funds. The accounting must include any surplus due the mortgagor.See the article at the link below that relates to overages.http://www.denverpost.com/2011/03/07/money-owed-to-victims-of-foreclosure-rarely-gets-to-them/
What happens if a tax lien is attached to a property that goes into foreclosure does the tax lien get paid off by the lender?
Not really. It gets paid by the proceeds of the one buying the property at the foreclosure auction. It gets paid before the lender. So less is available to pay the lender...and if enough to pay the loan isn't received by the lender from the sale and payment of other liens, the borrower is till iable for the amount remaining. Other assets, garnishments, liens, etc may be used to collect that "deficit" in the future.
What does Bilbo interrupt when he gets back to the shire?
auction of his property
What happens to second mortgage during foreclosure?
If you're in the US and assuming it's the 1st that foreclosures… The 2nd lien hold is notified of the foreclosure and has the option of bidding on the property at the foreclosure sale (normally they don't). After the property is sold (which can take a while if they have to market it and the market is bad), the 1st lien holder gets paid first. Then if there are excess funds (which is not common), those funds go to the 2nd lien holder to apply toward their balance. The mortgagor is still responsible to the 2nd lien holder for any balance left due to them.
Who gets the toll money?
The state gets the money.
What organelle gets rid of excess water?
contractile vacuole.
