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What is the difference between a short sale and a foreclosure in real estate matters?
When the owner of a home can no longer afford to make payments on their home mortgage, the home may be sold in a short sale before it enters into foreclosure. A short sale is one of a homeowner's last resorts. It occurs when a home is sold for less than the balance remaining on the mortgage. Typically the homeowner and lender strike a deal in which the homeowner agrees to accept less than the amount they owe on their home (making no profit) in exchange for the lender forgiving the remaining amount on the loan. This process may still damage the homeowner's credit, but they will avoid foreclosure. If a homeowner can't make payments on their mortgage and the home does not sell through a short sale, the lender can take possession of and sell the property by a foreclosure proceeding. To find out more read the full article on Nestiny.com
What happens to the all the money collected on a house if sold in a foreclosure sale?
The mortgage company gets the money.
When your forclosed home sells are you responsible for the shortfall?
i live in SD and my home was sold in foreclosure,how long do i have before i have to move out of it.
When your house goes into foreclosures how soon do you have to move out?
You must have your possessions removed prior to the foreclosure sale. Once the property is sold you have no right to be there.
How do you know if a foreclosure proceeding on your home has been initiated?
Generally you will be given notice by certified mail that a foreclosure action has been initiated. In most jurisdictions the notice will be published in your local newspaper for successive weeks and will include the date of the auction. Once the property has been sold at auction it is no longer your property. You should already know of the impending foreclosure by the late notices you will have received from the bank.
Can you take your freestanding stove after your home was sold in a foreclosure sale?
Yes you can
How long can you stay in your home after final foreclosure and sheriff sale notice for Vigo County Indiana?
once its sold you are trespassing.. 3 days if your lucky
Was 1036 rosewood inglewood ca 90301 recently sold?
I want to know the status of the propert I listed in mt question. It was recently listed for sale and the sign has been removed. I am interested to know if it was sold or was it a foreclosure?
What is the difference between a short sale and a foreclosure in real estate matters?
When the owner of a home can no longer afford to make payments on their home mortgage, the home may be sold in a short sale before it enters into foreclosure. A short sale is one of a homeowner's last resorts. It occurs when a home is sold for less than the balance remaining on the mortgage. Typically the homeowner and lender strike a deal in which the homeowner agrees to accept less than the amount they owe on their home (making no profit) in exchange for the lender forgiving the remaining amount on the loan. This process may still damage the homeowner's credit, but they will avoid foreclosure. If a homeowner can't make payments on their mortgage and the home does not sell through a short sale, the lender can take possession of and sell the property by a foreclosure proceeding. To find out more read the full article on Nestiny.com
What happens to the all the money collected on a house if sold in a foreclosure sale?
The mortgage company gets the money.
What is disposition value?
This is the value if the property were sold now under as is conditions - like in a sheriff's sale or foreclosure.
What happens when your home is sold in foreclosure due to common charges?
The result is that you lose your home.
How long after foreclosure do you have to vacate your home in California?
Generally, if you are the owner you should be prepared before the foreclosure sale. You will be given notice of the time and date of the foreclosure sale. When the foreclosure sale takes place and the property is sold you will no longer have the right to enter the premises. You should remove your personal belongings before the sale.
What is the difference between preclosure and foreclosure?
Be aware that a pre-foreclosure property is not necessarily for sale. The pre-foreclosure stage is the period between the time in which a Notice of Default (in non-judicial foreclosure) or lis pendens (in judicial foreclosure) has been issued to the homeowner and after the property is sold at a foreclosure auction.
Can a room be rented in a house that is being foreclosed on?
Yes. The home still belongs to the owner until the foreclosure goes through and it is sold to someone else at a foreclosure sale. Of course the renter takes a risk on what might happen if a new owner takes over.
When your house is in foreclosure when do you have to move?
When the property is sold at the foreclosure sale and the deed is made public record, the property is no longer yours and you must leave immediately. If you do not leave, the new owner can have you removed.
Can there be a deficiency judgment on a mortgage foreclosure in West Virginia?
No, adeficiency judgment may not be obtained when a property in foreclosure is sold at a public sale for less than the loan amount that the underlying mortgage secures.
