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You lose your home and any equity you had invested in it. If the eventual sale of the home does not cover your debt to the Lender, they may come after you for the difference. This could result in a judgment against you. Your credit score is adversely affected by the foreclosure, and possible judgment.
What else can I help you with?
Is it still considered repossession if you willing give the bank the keys to your property before it goes into foreclosure?
Yes, a voluntary foreclosure (deed in lieu of such) is a foreclosure just as a voluntary repossession of a vehicle is a repossession. All the same penalties/fees, recovery of debt laws apply and the information entered on the debtor's credit report will be as a foreclosure regardless of the circumstances involved.
Can you sell a house in foreclosure?
Yes, as long as the sale is complete and the mortgage (including unpaid interest and penalties) is paid off before the date of the Trustees Sale.
Mortgage goes into foreclosure and owing money will you lose your home because of the charge off?
Yes, the charge off designation indicates the mortgage agreement is in default. It is quite possible the lender will proceed with foreclosure action unless the loan can be reaffirmed and the missed payments and penalties brought up to date.
Can you pay your mortgage late without facing any penalties or consequences?
Paying your mortgage late can result in penalties and consequences, such as late fees, a negative impact on your credit score, and potential risk of foreclosure. It is important to communicate with your lender if you are facing difficulties making payments to explore options and avoid these consequences.
Can a cosigner let a lender foreclose on a house instead of making payments when the primary borrower has defaulted?
Yes, but the cosigner will still be legally responsible for any outstanding fees, penalties, deficiencies and so forth that may occur due to the foreclosure. The cosigner's credit will also be significantly damaged by the foreclosure and any other action by the lender.
Is it still considered repossession if you willing give the bank the keys to your property before it goes into foreclosure?
Yes, a voluntary foreclosure (deed in lieu of such) is a foreclosure just as a voluntary repossession of a vehicle is a repossession. All the same penalties/fees, recovery of debt laws apply and the information entered on the debtor's credit report will be as a foreclosure regardless of the circumstances involved.
Can you sell a house in foreclosure?
Yes, as long as the sale is complete and the mortgage (including unpaid interest and penalties) is paid off before the date of the Trustees Sale.
When selling your house do you have to keep making house payments?
Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.Of course you do. If you don't the interest and late penalties will add up and if it takes a while to sell the house you may lose it by foreclosure instead. You signed a contract to make monthly payments and you are legally bound to its terms.
Mortgage goes into foreclosure and owing money will you lose your home because of the charge off?
Yes, the charge off designation indicates the mortgage agreement is in default. It is quite possible the lender will proceed with foreclosure action unless the loan can be reaffirmed and the missed payments and penalties brought up to date.
What is a foreclosure dismissal?
Foreclosure dismissal is a simple foreclosure challenge that can be filed to the foreclosure complaint even without an attorney.Added: A foreclosure dismissal is a court order dismissing a foreclosure action.
Can you pay your mortgage late without facing any penalties or consequences?
Paying your mortgage late can result in penalties and consequences, such as late fees, a negative impact on your credit score, and potential risk of foreclosure. It is important to communicate with your lender if you are facing difficulties making payments to explore options and avoid these consequences.
What is foreclosure help?
Foreclosure help is advice and help you can get from an organization or service that will help you through a foreclosure or help you stop a foreclosure. Foreclosure Help and Hope is an organization that can help.
Can a cosigner let a lender foreclose on a house instead of making payments when the primary borrower has defaulted?
Yes, but the cosigner will still be legally responsible for any outstanding fees, penalties, deficiencies and so forth that may occur due to the foreclosure. The cosigner's credit will also be significantly damaged by the foreclosure and any other action by the lender.
Can a lien lead to foreclosure?
Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/
What are the penalties in California for abandoning an over-mortgaged house?
This process is called foreclosure abandonment. Someone who does this can face many consequences including tax law backlash and also suffer a major hit to their credit rating.
What is the best recommended foreclosure website?
There are agencies who can help you to stop foreclosure. I have saved my house from foreclosure and if you have a foreclosure property then those agencies will buy it at a great price. For foreclosure guide you can visit myprgenie.com you will get stop foreclosure guide by 2brothers real estate
What is a consent judgment in a foreclosure?
A consent judgment in a foreclosure is whereby a borrower with a pending foreclosure agrees to get into a judgment for foreclosure. This will not require further legal representation.
