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What does motion to vacate foreclosure sale mean?
Motion to vacate sale means cancelling the order that confirms the sale of the foreclosed property. The word "vacate" means cancel in this case.
What is the difference between a sheriff sale and a foreclosure?
Generally the term foreclosure is used at the start of the process. The foreclosure occurs when a person who does not make payments is kicked out of the house. Then the property is fore closed. In some places the bank can sell foreclosed properties. In other places, it goes on the block for a sheriff's sale.
In a preforeclosure does the end buyer have to pay off the unpaid balance of the mortgage?
The buyer at a foreclosure sale pays to the bank the amount they bid at the sale. The foreclosure process nullifies the outstanding (or foreclosed) mortgage as it affects the property. However, a buyer at a foreclosure sale should have the title examined by a professional in order to disclose any other liens and encumbrances that affected the property prior to the recording of the mortgage that was foreclosed. A person who plans to bid at a foreclosure sale should always work closely with an attorney.
Should one buy foreclosed homes for sale?
There is nothing wrong with buying foreclosed homes. A professional should be hired to inspect the home and find out what kind of repairs will be needed. There are pros and cons with purchasing a foreclosed home.
How many house payments do you have to be behind for a trustee sale?
A trustee sale is a public auction at which a piece of real estate is sold. Trustee sales are held when people default on their mortgages and the lenders take possession of the property, and they are also held when people fail to pay their property taxes and the taxing authority takes the property. Such sales are usually listed in the newspaper so that members of the public are aware of the fact that property is available for sale. In the case of mortgaged properties, when someone mortgages a property, part of the agreement involves a clause which allows the lender to foreclose on the property if the borrower does not pay. When property is foreclosed, a person is appointed to act as a trustee to handle the repossession of the property and the sale at auction. The purpose of the trustee sale is to collect the balance of the loan. Tax auctions are held for similar reasons.
What does motion to vacate foreclosure sale mean?
Motion to vacate sale means cancelling the order that confirms the sale of the foreclosed property. The word "vacate" means cancel in this case.
Where can I get information about foreclosed homes for sale?
Information about foreclosed homes in your area will available at the county or city hall. Your local government will have information regarding foreclosed homes due to property tax information. You may also find homes that are available for purchase due to owner's lack of responsibility in paying property taxes.
What is the difference between a sheriff sale and a foreclosure?
Generally the term foreclosure is used at the start of the process. The foreclosure occurs when a person who does not make payments is kicked out of the house. Then the property is fore closed. In some places the bank can sell foreclosed properties. In other places, it goes on the block for a sheriff's sale.
Who pays the child support lean on a house when it is foreclosed?
Liens are due when the property is sold, and are the responsibility of the seller(s). A foreclosure is not a sale.
How do you look for foreclosed homes for sale?
You can search for foreclosed homes for sale by checking online listings on real estate websites, contacting local banks or lenders, attending foreclosure auctions, or working with a real estate agent specializing in foreclosures. It's important to conduct thorough research and due diligence before purchasing a foreclosed property.
IF A HOUSE has been foreclosed what are the rules and regulations about going onto the property?
If a house has been foreclosed the lender has taken possession of the property and the borrower no longer owns it. Therefore the former owner has no right after the foreclosure to enter the premises. Arrangements to remove personal property should be made prior to the foreclosure sale.
Does a HOA lien get wiped out if condo is foreclosed by mortgage lender in California?
Liens are not 'wiped out': liens are paid. When the foreclosed property is sold, the lien may be paid from the proceeds, depending on its priority and the amount earned from the sale.
Are property taxes owed to the state from the owner when a property is foreclosed?
Property taxes are paid to local governments like counties, not states. If a property is sold at foreclosure auction, usually the county property taxes are paid first out of any proceeds from the sale.
What happens to existing judgments associated with prior homeowners after a home is foreclosed?
The sale of a foreclosed property follows a process of collecting records of all monies due that are attached to the title. Once the foreclosure sale is complete, monies are paid out according to the priority of the claimants. If the sale does not fully pay all monies owed, the prior owners may be liable for the remaining debts.
In a preforeclosure does the end buyer have to pay off the unpaid balance of the mortgage?
The buyer at a foreclosure sale pays to the bank the amount they bid at the sale. The foreclosure process nullifies the outstanding (or foreclosed) mortgage as it affects the property. However, a buyer at a foreclosure sale should have the title examined by a professional in order to disclose any other liens and encumbrances that affected the property prior to the recording of the mortgage that was foreclosed. A person who plans to bid at a foreclosure sale should always work closely with an attorney.
What rights are available to the person that has a lien second to the bank on a property that has already sold at a foreclosure sale?
Hate to tell you, but in WA, none. The senior lien has already foreclosed, any any junior lien (including deed of trust or mortgage) was foreclosed with it.
Trying to find your foreclosed property sale date?
Contact the bank that held the mortgage, the local sheriff's office, or the tax assesor's office, and one of them should be able to tell you.
