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How long does a tenant have to move out after a foreclosure by the bank against the owner?
Mother's home was foreclosed on. Served with court papers in March, and court trial was in November. The court papers said vacate asap. I am assuming one would have until the court date to clear out. But I think during this time one would have the chance to save the home. This one was not worth trying to save. Very , very old and much time and money need to be spent to make it livable.
What else can I help you with?
Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
Can a mortgage be taken out on land contract?
You can check with local bankers but that is unlikely. A mortgage is a security interest a property owner grants to a bank. If the mortgage isn't paid the bank can take possession of the property by foreclosure. If you don't own the property you cannot grant an interest to a bank.You can check with local bankers but that is unlikely. A mortgage is a security interest a property owner grants to a bank. If the mortgage isn't paid the bank can take possession of the property by foreclosure. If you don't own the property you cannot grant an interest to a bank.You can check with local bankers but that is unlikely. A mortgage is a security interest a property owner grants to a bank. If the mortgage isn't paid the bank can take possession of the property by foreclosure. If you don't own the property you cannot grant an interest to a bank.You can check with local bankers but that is unlikely. A mortgage is a security interest a property owner grants to a bank. If the mortgage isn't paid the bank can take possession of the property by foreclosure. If you don't own the property you cannot grant an interest to a bank.
How can a homeowner avoid foreclosure when their mortgage is held by Bank of America?
A home owner can avoid foreclosure when their mortgage is held by the Bank of America in one of the following ways: Contact them, they can workout ways to assist with payments or reduce the cost of mortgage to fit in with one's budget.
If your condo goes into foreclosure do you still owe the condo fees?
Yes, until the bank is the owner. The fact you're in foreclosure doesn't change the fact utilities need to be paid as well as your staff. It's not only the bank that can put you into foreclosure; even your HOA/condo association can force the sale of your home due to delinquency.
Can a bank take your money from bank after foreclosure?
no
Is it ok to charge a tenant rent when you as a homeowner stop paying your mortgage?
Until a foreclosure sale takes place, the owner is entitled to rent payments. His relationship with the bank has nothing to do with the tenants.
If you are a tenant in a home that the landlord is going to ask the bank for a deed in lieu of foreclosure how long until the tenant has to be out of the house?
32 minutes. if not then, run!
Is it illegal to rent your house if it is in default IF you properly disclose to the potential tenant that it is a month to month lease because the property is going to be in foreclosure?
The fact that a bank has begun foreclosure proceedings shouldn't have anything to do with signing a lease or month-to-month rental agreement. We can't be certain that the foreclosure will happen, or when. And, it could be that the bank with work with the owner if the place is rented, where they would not if it was empty.
Can a condo unit be rented after the owner has been presented with papers of foreclosure and has a court date set up?
Since this is a landlord-tenant issue, it is strongly recommended that you -- as the condominium owner -- advise the tenant of the current situation.In addition, you might also inform the board and the property management company, since rental income can be captured by the association if you -- or the bank -- fails to pay monthly assessments while gaining revenue from a tenant.
If a person is dead can a bank foreclose?
Yes. They'll foreclosure against the estate.
Who owes the condo fees incurred after a foreclosure?
Assessments are owed to the association by the condominium owner. If it's a bank, then the bank owes assessments.
Who is responsible for hoa fees when foreclosure occurs?
The titled owner is responsible for HOA assessments, whether it be the fore-closed-up owner or the bank -- when the bank takes over title to the property.
How long can I stay as a tenant in an apartment that the bank foreclosed on?
The Federal Protection of Tenants in Foreclosure Act requires a foreclosing bank to give a 90-day notice to quit (if they give one).
Can you be evicted from a house that is still deeded in your name at the county tax office and you have paid the taxes?
An eviction is the expulsion of a tenant by the landlord or the owner of the property. If you are the owner of the property no one else has the legal capacity to evict you from your property.However, if you're referring to a foreclosure proceeding, the bank can take possession of your property if you're in default of the mortgage.
Can the Mortgage be in your name and deed be in both your names not married?
All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.All the owners of the property will be required to sign the mortgage so that in the case of a foreclosure the lender can take possession of the property. If only one owner signs the bank cannot foreclose on the other owner's interest.
What does resale mean in real estate?
In real estate, there is what they call pre-foreclosure selling of properties - wherein the owner, who is nearing foreclosure - could resell the property to a prospective buyer in cooperation of their lender / bank. This is to save the credit of the owner and avoid foreclosure that may damage their credit record.
Is there a law that states that if a tenant is renting a home and the landlord declares bankruptcy and is abandoning the property to the mortgagee then the tenants can make payments to the bank?
There's no law that says the bank has to take the tenant's money. However, the Federal Protection of Tenants in Foreclosure Act requires the bank to give tenants 90 days to vacate.
