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The legal term is foreclosure. Anytime a mortgage agreement is defaulted on the lender has the legal right to begin foreclosure procedures to seize the property and sell it for the fair market value. States establish laws that control the way a lender can implement forclosure proceedings. Some states allow the lender to use the self-help method, meaning no court procedure is necessary. Others states require the lender to use the due process through the court as prescribed by state laws.
What else can I help you with?
You want your house repossessed?
no i dont think any body would like their house repossessed because that will mean your a tramp, then u will be put in a dangerous place .. :'(
If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?
Most likely not depending on what financial situation you're in.
What happens if your repossessed house is sold for less than what is owed?
You owe the difference I think.
How does a home get repossessed?
A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.
How many house payments can you miss before it is repossessed?
once you are 90 days down they can start with a foreclosure.
What happens if you get your car repossessed?
if i get my car repossessed, can they put a llien on the house?
You want your house repossessed?
no i dont think any body would like their house repossessed because that will mean your a tramp, then u will be put in a dangerous place .. :'(
If you have never had a car repossessed you have had a house repossessed Can I still get a car loan?
Most likely not depending on what financial situation you're in.
What happens if a police officer's house is repossessed?
then theyre out of a home
Can my house be repossessed if my husband is madebankrupt but is not on the deeds?
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
Can a house be resolved and the arrears paid after it is repossessed?
It is possible to work out a deal with the bank after it is repossessed. However, a new loan or legal agreement will have to be signed.
Can you be sued after your house is repossessed?
In general, yes, if you haven't files bankruptcy.
Your house has been repossessed but the land remains in your name?
No. The house is attached to the land, so, the land is included in the repossession.
What happens if your repossessed house is sold for less than what is owed?
You owe the difference I think.
How does a home get repossessed?
A home can get repossessed in many ways, the most common reason is that they owner of the house has not payed the bank the loan that they took out so as to by the house, or that the person hasn't pay many bills so they take the equivalent of the unpaid bills.
How do you get your car repossessed?
If you don't pay your car payments, people go to your house and take it away.
How many house payments can you miss before it is repossessed?
once you are 90 days down they can start with a foreclosure.
