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What your asking isn't entirely clear: If it something like: If you owe $100 on a $100,000 house, do they still take the entire property? Yes. The foreclosure process and results itself are essentially the same regardless of the amount owed. The amount owed is increased by all the costs of the foreclosure, accumulated interest and late fee's. The property being sold is done so at an auction (or process) that because of the questions regarding the property, and general requirement for cash, is attractive mainly to bargain seekers. Hence less money is generally produced, to pay off more of a debt, than had the troubled party done so themselves. Just like any amounts that are not paid off by the sale remain owing and the debt may still be pursued by the lender, it is generally true that if the foreclosure produces more than enough to pay off that now escalated amount of debt, it will be returned to the one who lost the property.
What else can I help you with?
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
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.
What happens to equity in a foreclosure process?
In a foreclosure process, equity refers to the difference between the value of the property and the amount owed on the mortgage. If the property is sold in foreclosure for more than the amount owed, the remaining equity goes to the homeowner. If the property is sold for less than the amount owed, the equity is lost.
What is the minimum amount required to place an opening bid at a foreclosure auction?
The minimum amount required to place an opening bid at a foreclosure auction is typically set by the lender and is usually equal to the outstanding loan balance plus any fees and costs associated with the foreclosure process.
What is the house foreclosure process?
Foreclosure is governed by state law, different states can observe different foreclosure procedures. In foreclosure, the lender, mortgagee, automatically becomes full owner of the property when a borrower, mortgagor, defaults. The borrower can still pay the full amount and get the house back during the redemption period. If the money is not paid back, you will lose the ownership of the house. Then the house will be sold at a public sale or auction to pay for the full loan amount, if the sale is less than the amount owed, you will owe the difference.
Is there still a past due amount on your credit report after foreclosure?
The foreclosure will be on your credit report indefinitely.
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.
Converting a 1985 dollar amount to a 2010 dollar amount?
Convert 1985 dollar amount to 2013 dollar amount
What happens to equity in a foreclosure process?
In a foreclosure process, equity refers to the difference between the value of the property and the amount owed on the mortgage. If the property is sold in foreclosure for more than the amount owed, the remaining equity goes to the homeowner. If the property is sold for less than the amount owed, the equity is lost.
What is the minimum amount required to place an opening bid at a foreclosure auction?
The minimum amount required to place an opening bid at a foreclosure auction is typically set by the lender and is usually equal to the outstanding loan balance plus any fees and costs associated with the foreclosure process.
Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledger means?
The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called a
What dollar amount must be probated?
There is no exact dollar amount that must be probated. The dollar amount will vary from case to case with the IRS.
How much was the quarter worth in 1861?
1/4 of a dollar or 25 cents. A quarter will always be worth this amount. The year does not matter.
What happens to a tax lien on a property lost in foreclosure?
Tax liens are not wiped out by a foreclosure. They must be paid in order to clear the title to the property so that it can be sold. If the lender has to pay them it will add that amount to the amount you owe.
Is the amount of matter?
The amount of matter is MASS
The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called?
The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called the balance sheet.
Amount of matter?
The amount of matter in our universe is enormous.
