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Foreclosure is the legal and professional proceeding in which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption.
Foreclosure means that you didn't keep your end of the bargain to pay back a loan and the loan holder is in the process of taking the car or house back.
What else can I help you with?
What does it mean when a condo is in a 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.
What does the term foreclosure mean?
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.
What does bond approved mean on a foreclosure?
"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.
What does it mean Foreclosure hold state?
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.
What does foreclosure of a house mean?
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.
What does 'case disposed' mean in regard to a foreclosure case?
It means that the legal aspect of the foreclosure has been finished.
What does dismissed without prejudice mean when you are in foreclosure?
dimiss the foreclosure action without prejudice and release the lis pendens! what does this means please!
Is my 401k and IRA protected from foreclosure?
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.
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.
What does order to docket mean in court?
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.
What does it mean when a condo is in a 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.
What does 'writ' mean?
Writ stayed means that the court has decided to discontinue a specific action. In foreclosure proceedings writ stayed means the court has stopped the foreclosure process.
What does the term foreclosure mean?
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.
What does bond approved mean on a foreclosure?
"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.
Can your landlord evict you if his house is under foreclosure?
Yes. Until the actual foreclosure sale happens, he owns it. I'm not sure what you really mean by 'under foreclosure', anyway. That could be any stage of the process, and you can't be sure that the sale will really happen.
What does writ stayed mean?
Writ stayed means that the court has decided to discontinue a specific action. In foreclosure proceedings writ stayed means the court has stopped the foreclosure process.
What does it mean Foreclosure hold state?
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.
