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What does foreclosure in a house mean?
its like when you cant pay your rent in an apartment. the people that own it kick you out. or, in this case, the bank does it means that someone cannot afford to pay for their house. therefore the bank forecloses it or in other words takes it away and sells it for the remaining balance of the loan.
What happens when your home forecloses and the lender sells it for less than what you owe?
You still owe the balance (the amount you owed minus the amount the lender sold the foreclosed home for).
What is the Definition of global equity?
Global equity is investing in a company that sells its products around the globe. Sony, Canon, and Toyota are three prime examples.
What happens If the bank forecloses and sells your home for less than the mortgage?
Depending on where you live and the type of loan you have, the lender may be able to go to court and get a deficiency judgment against you for the difference (in most cases they can do that)
What happens to your equity in a foreclosure situation?
In a foreclosure situation, your equity is the difference between the value of your property and the amount you owe on your mortgage. If your property is foreclosed upon, you may lose your equity as the lender sells the property to recover the outstanding debt.
What will happend if you stop paying for your house and move?
* Your credit rating gets really bad * The bank forecloses on the loan * The bank sells the house for as much as they can get * After taking out the legal costs, if there is any equity, they would send a check. * Reality is that they won't recover the balance and costs and will bill you for the rest of the amount owed.
What if the bank sells the house for more than you owe on the foreclosure?
If the bank sells the house for more than you owe. First, if you owe any other mortgages they will get paid first. after all of the liens of your property have been paid, the borrower(you) receives the rest. example you owe 100,000 on mortgage 20,000 on equity line the house sells for 150,000 mortgage and equity line get paid off. and you receive the difference of 30,000 dollars
What does foreclosure in a house mean?
its like when you cant pay your rent in an apartment. the people that own it kick you out. or, in this case, the bank does it means that someone cannot afford to pay for their house. therefore the bank forecloses it or in other words takes it away and sells it for the remaining balance of the loan.
What happens when your home forecloses and the lender sells it for less than what you owe?
You still owe the balance (the amount you owed minus the amount the lender sold the foreclosed home for).
New Voluntary Short Sale law?
Here in Arizona we have a new program to help people get out of a mortgage where they have a negative equity balance.As I understand it. The Home owner wants to sell the house buit owes more than it is worth. If he does not make the payments he will loose his house and ruin his credit. By volunteary reposission he saves his credit, the finacce company stops action against the owner. The owner then sells the house for what ever he can get. pays the finance company and then agrees to pay the short sale amount to the finance compan. I is a win - win - win solution for everyone. Seems like a great way of dealing with the problem.
What is the Definition of global equity?
Global equity is investing in a company that sells its products around the globe. Sony, Canon, and Toyota are three prime examples.
What does a boutique owner do?
sells the clothes that are in a store
A company that sells shares in the stock market is involved in which type of financing?
Equity financing
If you are a equity holder of a Farmers Cooperative and the business sells to another company what happens to your equity?
the name of equity would change only. as preveious co has sold the stakes to another company... this is the case of acquesition
What happens at the end of the book Swindled?
They find the real owner of the house and it an old person and the kids give the person the card and she i think sells it and gets the money
If you are in a lease and the owner sells the house can the new owner make you move?
Yes, but only if the lease permits it or when the lease expires. There is a presumption that a purchaser of rental property will know the terms and conditions of every lease for current tenants.
What happens If the bank forecloses and sells your home for less than the mortgage?
Depending on where you live and the type of loan you have, the lender may be able to go to court and get a deficiency judgment against you for the difference (in most cases they can do that)
