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That is known as foreclosure.

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13y ago

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Is a house mortgage a secured debt?

Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.


Is it possible for me to cancel a bank transfer?

Yes, it is possible to cancel a bank transfer, but it depends on the policies of the bank and the timing of the request. You should contact your bank as soon as possible to inquire about canceling the transfer.


Is it possible to cancel a bank transfer after it has been initiated?

Yes, it is possible to cancel a bank transfer after it has been initiated, but it depends on the policies of the bank and the timing of the request. It is important to contact the bank as soon as possible to inquire about the cancellation process.


Is it possible to use Debit card of Bank of China in Macau?

No, it is not possible to use debit card of bank of china in Macau.


How can I take back a Zelle payment?

To take back a Zelle payment, you should contact your bank or financial institution as soon as possible and request a reversal of the transaction. Be prepared to provide details about the payment and explain why you want to cancel it. Keep in mind that the ability to reverse a Zelle payment may depend on the policies of your bank and the recipient's bank.

Related Questions

WHEN SOME ONE FAIL TO PAY THE LONE OF BANK?

Bank loans are usually secured on the person's property. If the borrower fails to pay the loan back to the bank - the bank simply 'forecloses' on the loan - and seizes ownership of the property.


Which bank sells tirupathi laddu?

andhra bank


What is the difference between the Lionel Train Bank which sells for 19.95 and the Lionel Railroad Crossing Bank which sells for 29.95?

i think its Diego moreno.


Is a house mortgage a secured debt?

Secured debt is debt backed or secured by collateral to reduce the risk associated with lending, such as a mortgage. If the borrower defaults on repayment, the bank seizes the house, sells it and uses the proceeds to pay back the debt. Assets backing debt or a debt instrument are considered security, which is why unsecured debt is considered a riskier investment find more about PMI services in Florida United Financial Counselors contact with us.


Once the bank sells the car you are responsible for the balance due can the bank put a lien on your home if you don't pay that back?

ONLY after getting a judgment for the balance due can the lender persue any other legal options.


How is abandon property treated in Alabama?

The bank takes it, sells it.


Is it possible for me to cancel a bank transfer?

Yes, it is possible to cancel a bank transfer, but it depends on the policies of the bank and the timing of the request. You should contact your bank as soon as possible to inquire about canceling the transfer.


What happens to your credit when you give a car back to the bank?

You are not giving it back to the bank, you are having your car voluntarily repossessed. It ruins your credit for 7 years. Which may sound like a bad thing, but in reality will keep you from buying more car than you can afford for the next 7 years, which is a good thing. Remember if you do this, you will still be responsible for the difference in what the bank sells the car for, and the balance on the loan.


Is it possible to cancel a bank transfer after it has been initiated?

Yes, it is possible to cancel a bank transfer after it has been initiated, but it depends on the policies of the bank and the timing of the request. It is important to contact the bank as soon as possible to inquire about the cancellation process.


What happens during a foreclosure?

After a default by the borrower the bank takes possession of the property and sells it.


Is it possible to use Debit card of Bank of China in Macau?

No, it is not possible to use debit card of bank of china in Macau.


You let your RV go back to the Bank will you receive a 1099 form for the different after the bank auction it off?

If it sells for less than was owed, AND the bank cancels the remainder due (they don't have to, they can look to collect the difference and pursue you for years for t...garnish. attach, etc), the amount they cancelled is income to you and they should send you a 1099-C.