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Why would anybody let a mortgage foreclosure happen why wouldn't they sell the property pay off the mortgage and since real estate usually appreciates in value make a profit?
Wiki User
∙ 17y ago
Sometimes this things happen. Sometimes people enter into hardship and are unable to keep up with their mortgage payments. In some cases the lenders don't want to cooperate with the borrowers for example giving them time to sell the property or make some type of payment arrangement. And eventhough real estate usually appreciates in value, it is not always the case. In some cases borrowers will try to sell the property but the market is too slow or very low. People are simply not buying property and if the lender is not willing to wait, there is no possibility of selling the property before foreclosure happens. Sometimes a short sale maybe a possibility but again it also depends on the lender.
Wiki User
∙ 17y ago
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When buying a forclosure home what is the definition of foreclosure?
Foreclosure is a horrible thing to happen to anybody. With economy so bad recently different procedures are being done so then there are not so many homeless families. The definition of foreclosure is when the bank or business takes possession of a mortgaged property, resulting in making a family leave the premises.
What is an equitable mortgage?
An equitable mortgage is also called as English mortgage which can be done by deposit of original title deeds of a person who intends to obtain loan from anybody, as security for the said advances. The said document in the custody of the person handing over the loan would be entitled to enforce the same as it would create a charge on the immovable property and could e enforced in accordance with the provisions of Transfer of Property Act pertaining to mortgages. The person creating the mortgage is called as the Mortgagor and the person receiving the documents the Mortgagee.
How do I obtain an FHA loan?
Almost anybody can get an FHA loan. There are no income limits the FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration.
You received notices that the property that you rent went into forcloser It is now being sold by the bank The owner who lost the property is sueing you for 3 months past rent what can you do?
DO NOT give the landlord any money. If the bank has taken possession of the property itmay be your obligation to pay the bank and not the (former) landlord. Call the bank before you pay anybody anything !!!
How to purchase Real Estate Tax Foreclosures?
Usually the notice of foreclosure sale will identify what the prospective buyer needs to show up with. It may or may not allow inspection of the real estate. If you're thinking you can put an offer in before the sale and cut a deal, the whole reason for a "public" sale is that the borrower is still entitled to the best price that can be had, and that usually requires auction style bidding. The lender usually, but not always, will bid in the amount of the debt for various reasons, not the least of which is to make sure if anybody else wants the property, they'll have to bid more.
When buying a forclosure home what is the definition of foreclosure?
Foreclosure is a horrible thing to happen to anybody. With economy so bad recently different procedures are being done so then there are not so many homeless families. The definition of foreclosure is when the bank or business takes possession of a mortgaged property, resulting in making a family leave the premises.
What is an equitable mortgage?
An equitable mortgage is also called as English mortgage which can be done by deposit of original title deeds of a person who intends to obtain loan from anybody, as security for the said advances. The said document in the custody of the person handing over the loan would be entitled to enforce the same as it would create a charge on the immovable property and could e enforced in accordance with the provisions of Transfer of Property Act pertaining to mortgages. The person creating the mortgage is called as the Mortgagor and the person receiving the documents the Mortgagee.
What is an equition?
An equitable mortgage is also called as English mortgage which can be done by deposit of original title deeds of a person who intends to obtain loan from anybody, as security for the said advances. The said document in the custody of the person handing over the loan would be entitled to enforce the same as it would create a charge on the immovable property and could e enforced in accordance with the provisions of Transfer of Property Act pertaining to mortgages. The person creating the mortgage is called as the Mortgagor and the person receiving the documents the Mortgagee.
Does anybody ever actually use Salem mortgage?
The Salem Mortgage firm based out of Salem, Indiana, has some very positive reviews. Folks have said that after refinancing their home with Salem Mortgage, they received refunds on their interest payments after 3 years of payments. They seem like a reputable and honest local business.
What kind of property is a charge?
anybody who asks the charge of an object is asking if it's electrons are positive or negatively CHARGED
How do I obtain an FHA loan?
Almost anybody can get an FHA loan. There are no income limits the FHA loan is a federal assistance mortgage loan in the United States insured by the Federal Housing Administration.
What is the difference between mortgagor and borrower?
Very little except that a Mortgagor is specifically the the named borrower on a mortgage instrument, whereas a plain old 'borrower' could be anybody who borrowed anything from anywhere.
What does the mortgage industry do?
A mortgage company helps home buyers and owners in not only receiving loans to aid them in paying off their mortgages, but also refinancing their mortgages for financial benefits and ensuring that they are always kept in the loop when it comes to the best financial solutions relevant to their particular circumstances. Buying a house and ensuring that you have the funds to keep it can be a very intimidating and stressful situation for anybody, especially if they are unsure if they can provide the steady income they need to uphold a house. That is where a mortgage company comes in; they will look through your credit history, property information, and ultimately determine what financial solution is best for you. Having a reliable mortgage company will definitely take much of the stress off during the process of purchasing a house and there is usually always a way to provide loans to the person or persons interested in buying or refinancing a house.
What is orphan works and can anybody reproduce said property?
Orphan works are works in which there IS a valid copyright but they holder of the copyright has not come forward or is not know. They are NOT available for reproduction.
Can you be sued if a person gets hit by another person on your property?
Too many unknowns make this impossible to answer with any certainty, but in our great country anybody can sue anybody else for just about anything. The real issue is can you win? If you pose a more specific situation it may help.
Do you have any examples of sentences using anybody?
Is anybody going to the concert tonight? I don't think anybody was prepared for the sudden change in weather. Does anybody have a spare pen I can borrow?
How old do you have to be to use a airsoft gun in Utah?
It doesn't matter how old you are in Utah just try to not hurt anybody or their property and depends if your perants let you have one
