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Yes, until the foreclosure has been completed and the lender has taken possession of the property.
Yes, until the foreclosure has been completed and the lender has taken possession of the property.
Yes, until the foreclosure has been completed and the lender has taken possession of the property.
Yes, until the foreclosure has been completed and the lender has taken possession of the property.
What else can I help you with?
When does a gift become an estate?
A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.
What does foreclosure do to property value?
When foreclosed homes are sold they are often sold at significantly reduced prices. Any time homes in an area are sold for prices lower than previous sales in that same area, the property values of all similar homes in that market area decline. Many people mistakenly believe that if they sell their home under normal circumstances that foreclosure sales do not affect their values. Home sales are much like any other consumer transaction; items selling for lower prices in a market reduce the value of similar items regardless of sale reason. Distressed or damaged homes, while not similar in condition to maintained homes, will still drag down market values overall even though a maintained home will still sell for a slightly higher amount.
Real Estate Appraisers do not appraise homes at their true value.?
Real estate appraisers aim to determine a property's objective market value based on comparable sales and established methodologies, not necessarily its "true value" which is subjective and influenced by current market dynamics, bidding wars, or unique emotional factors. Appraisals provide a snapshot for specific purposes like lending, often lagging fast-changing market prices due to reliance on historical data.
What is the The US Real estate market crash?
It is usually referenced as the time period beginning mid 2008 to the end of 2009. Although, some still make the case it is still on-going.
If you had your deceased parents stock switched into the name of the estate do you still have to pay capital gain or loss on it how do you determine that when you dont know how much they bought it for?
This is actually one of the biggest holes in the US tax law. The estate gets the stock at the value at the time of the transfer to the estate's name. The Capital gains are only on what occurred once it was transferred.
Who is responsible for a property still in the foreclosure process once you vacate the premises?
You are responsible for the property during the foreclosure process up until the property is sold or auctioned.
Do you still owe real estate taxes after foreclosure?
The property taxes are owed by the owner. When the property is sold at auction the debt stays with the property. If the winning bidder is the lender then the lender ends up with the obligation. Until the tax is paid a lien will remain on the property's title.
Does the bank still collect from a deceased co signers estate if the property was sold?
The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.The bank has a lien on a mortgaged property that is not affected by a transfer of the property. The bank will go after the decedent's estate and the cosigner for payment of the mortgage. If the mortgage isn't paid the bank will take possession of the property by a foreclosure.
What happen when you place a property into an individuals estate after he died?
While the estate is still open, the property will become part of the estate and will be distributed under the provisions of the will or as intestate property.
If the bank owns your home due to foreclosure do you still have to mow grass?
No the bank pays the property tax and maintains the property. You are still responsible for the mortgage
Is it still considered repossession if you willing give the bank the keys to your property before it goes into foreclosure?
Yes, a voluntary foreclosure (deed in lieu of such) is a foreclosure just as a voluntary repossession of a vehicle is a repossession. All the same penalties/fees, recovery of debt laws apply and the information entered on the debtor's credit report will be as a foreclosure regardless of the circumstances involved.
When does a gift become an estate?
A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.A gift you receive becomes your property. When you die, if you still own that property it becomes part of your estate.
If our house goes into foreclosure can the banks still get their money from you ?
foreclosure is a conditon where a lender (the bank) acquires title to and uses the value of the property to offset the outstanding balance of the loan. If your property goes into foreclosure you will LOSE ownership of that property but will also no longer owe the unpaid balance of the loan. This is called 'defaulting' on your loan.
Can a first mortgage lender omitted from foreclosure and let the second foreclosure?
Yes, but whomever buys at the second foreclosure will own the property subject to the first lienholder's debt. The first lienholder can still foreclose and wipe out the second.
Is a house bought from an estate in probate considered owned by the deceased or by the beneficiaries?
That depends on more details. If the estate is closed the property is owned by the beneficiaries or next of kin depending on the type of probate proceeding. If the estate is not closed yet then the estate fiduciary would still have some or all of the control over the property. You can provide more details on the discussion page.
If you are in foreclosure for your first mortgage are you still responsible for the second mortgage if there is a second mortgage on the property?
If your first mortgage is in the process of foreclosure that foreclosure will extinguish the second mortgage as to the real estate. The foreclosure of the first mortgage terminates all subsequent interests in the real estate. After the foreclosure the real estate can be sold free and clear of any subsequent mortgages or liens. However, the debtor remains responsible for the second mortgage debt.Any remaining proceeds from the foreclosure sale after the first mortgage is satisfied are paid toward the second mortgage. In some states the second mortgagee can seek a "deficiency judgment" in court against the debtor. However, even when possible it's not often done due to the costs and the slim probability the debtor will have the ability to pay.You should check your state laws.
Transfer real estate property by will?
The transfer is done by the executor of the estate once the estate is settled. The will indicates who gets the rights in the property, but they are still subject to mortgage and liens and other items.
