"Bond approved" on a foreclosure indicates that a court has authorized a bond, which is a financial guarantee, typically required to proceed with the foreclosure process. This bond serves to protect the interests of the parties involved, ensuring that any claims or damages arising from the foreclosure can be compensated. It often signifies that the foreclosure is moving forward and that the necessary legal and financial requirements have been met.
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
The term foreclosure means that when a loan is not paid on time, the lender has the authority to take action on the collateral assets the borrower listed to secure the loan.
Foreclosure Hold State signifies the ability to place a foreclosure action on hold. Meaning if there is a typical borrower forebearance review, litigation/contested action, the foreclosure is placed on hold to allow time for forebearance or contested action to be reviewed. Saves both borrower (if attempting to reinstate/payoff loan) and Servicer, with avoidance of fees/costs accumulating due to foreclosure actions.
Foreclosure on a house means that the previous owners did not have enough money to pay for their mortgage and therefore could not afford to maintain it properly, so the bank takes ownership of it.
Check this post, it talks about liens and foreclosure. http://www.foreclosedpropertiesdata.com/blog/foreclosure-help/how-liens-can-lead-to-foreclosure/
You are typically off the market for about 3-4 years after a foreclosure.
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
It means that the legal aspect of the foreclosure has been finished.
dimiss the foreclosure action without prejudice and release the lis pendens! what does this means please!
If by "foreclosure" you mean that the mortgage lender is taking your home back, yes they are prtected. However, if you really mean BANKRUPTCY, no, they are NOT protected, since they are assets you can use to reimburse your creditors.
Veterans Affairs or Veterans Administration approved.
approved
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.
Usually "on approved credit" Means if you're approved you get credit
It means something has been approved by the Department of Transportation.
Is the initial documents filed with courts to initiate a foreclosure in Maryland. It's equivalent to a Notice of Default which too is filed to initial foreclosure.
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.