It depends as always, Also what kind of securing are you speaking of? Locking doors, windows, ect. If you are not planning on filing bankruptcy then you will be responsible for any deficiency balance that is left over from the sale of the house. So if there is damage to the house it will lower the amount of money you or the bank will be able to sell the property for. Voluntay and Involuntary foreclosure really dosent make a difference the cost to foreclose will be the same.
No. At least, you are not usually not responsible for anything except getting out of your house in foreclosure in this state. Once your house is foreclosed, it ceases to be your house and belongs to someone else. You then become a guest in someone else's house. It is that persons responsibility to take care of the house.
No. The bank owns the house after foreclosure. But your credit report will take years to fix. Good luck.
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.
The lender can go after you for any deficiencies and the foreclosure will be reported on your credit record. As a co-signer you are equally responsible for paying the mortgage.
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
Getting a devorce and house is facing forclosure but my name is not on deed. Am I liable.
I spoke with a lawyer...Voluntary foreclosure could be better because it would only be 1 hit on your credit instead of having to go 180 days past due. You can offer the deed to your house if the bank will take it to prevent the bank from placing a judgment for any amount uncollected at the sale.
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.
Any heir wishing to keep the house must pay off the debt. However, if no heirs desire to keep the property, then the estate will not be liable for a deficiency if the house is being sold under a trustee's sale. If the foreclosure is court ordered, then the estate and heirs can be held liable for a deficiency.
Yes, you get the best deal by buying a house at a foreclosure auction. You can read more at www.realtytrac.com/foreclosure/Auction/how-to-buy-homes-at-auction.html
mo ney
Houses go into foreclosure when the owner can no longer afford to make the house payments. Many people look to purchase foreclosure homes as they can often be purchased for a low price.