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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 else can I help you with?
Is western progressive llc a trustee for hsbc bank?
They are a trustee for many banks. As trustee they act as a disinterested third party until you default on your loan
How many payments behind can you get before your mobile home will be foreclosed on?
Usually 3 payments does it - but that is up to the lender. - Don't just let it happen ! - Go to them, try to work out a solution. It often works,
How many house payments can you miss before it is repossessed?
once you are 90 days down they can start with a foreclosure.
How many house payments can one miss before being foreclosed?
If it is not specified in the contract then it is likely at the descretion of the lender.
How many payments do you usually have to be behind before a financial institution decides to repossess?
60 days is usual for most lenders, however, it varies.
How many payments missed from debtor to trustee before chapter13 is dismissed?
In a Chapter 13 bankruptcy case, if a debtor misses one or more payments to the trustee as outlined in their repayment plan, the case may be dismissed. Typically, the court may allow a grace period for missed payments, but consistently missing payments can lead to dismissal. The specific number of payments missed before dismissal can vary by jurisdiction and the discretion of the bankruptcy judge, but generally, two or more missed payments can trigger a dismissal. It is essential for debtors to communicate with their trustee if they anticipate payment issues.
How many payments do you have to be behind to get your car repoed in GA?
no more than 2 payments
How many payments behind will Volkswagen repo your car for?
two
In Georgia How many payments do you have to be behind before they can repossess your car?
oiuo
Can a bank sell your vehicle the day after it is repossessed in Alabama?
Depending on how many payments your behind. If you are behind a great margin I think they would to try to make back the money lost but if you're one or two payments behind they will give you a chance to catch up and if you fail to make any payments after they contact you they will sell.
Can I trade in my car if I am behind on payments?
You absolutely can trade in your vehicle even if you are behind on your payments. When you trade a vehicle in the dealership you are purchasing from pays off your previous loan in full, so being behind on your payments will not affect anything other than the total amount due on your car. Of course when the new dealership runs your credit report it will probably reflect that you are currently behind and will also show how many months you are behind.
Is western progressive llc a trustee for hsbc bank?
They are a trustee for many banks. As trustee they act as a disinterested third party until you default on your loan
How many payments behind can you get before your mobile home will be foreclosed on?
Usually 3 payments does it - but that is up to the lender. - Don't just let it happen ! - Go to them, try to work out a solution. It often works,
How many house payments can you miss before it is repossessed?
once you are 90 days down they can start with a foreclosure.
How many payments in the state of Texas can you be behind for repo?
Legally if you miss 1 payment you are delinquent and they can start repossession proceedings on their vehicle.
How many house payments can one miss before being foreclosed?
If it is not specified in the contract then it is likely at the descretion of the lender.
Can the trustee of a irrevocable trust buy the house in this irrevocable trust and take a loan out on the house to pay the other beneficiary?
You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.You need to review the terms of the particular trust in order to determine what the trustee can and cannot do. A trustee has only the powers set forth in the trust document. Generally, a trustee should bot take money from the trust for his/her own use.
