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What else can I help you with?
How do you protect your home from foreclosure?
The easiest way would be to make all the payments on time to the mortgage company or bank.
Does private mortgage insurance change the foreclosure or deed in lieu proceedings?
Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency. That deficiency is paid by the insurance company. It would not appear to have an effect on the foreclosure proceeding, just on your liability for a deficiency. However it is to your advantage also to have MI if your house goes into foreclosure. Not only do they pay the lender and cure a portion of the definciency, but often they get involved up front and try to work with the borrower and lender both to avert the foreclosure. That way they are paying a lower claim and the borrower gets to keep their house. I've even heard of the insurance company helping the borrower get short term loans, renegotiate the mortgage or helping them find a buyer.
How does one protect their mortgage if no representative from a mortgage company will contact them?
Send your mortgage company a "qualified written request" in the mail. They are required to respond to such a letter in 60 days. Please visit the links below.
What are the pros and cons of a short sale verses a foreclosure?
Both a foreclosure and a short sale will ruin your credit for many years. With a foreclosure, it's best to file a Chapter 7 bankruptcy to protect you from the lender. The lender has up to 10 years to come after you for the loan deficiency. For example, if you owed $200,00 on a mortgage, and it cost the lender $75,000 to re-sell your property, you could be liable for that $75,000 deficiency. On a short sale, the lender can still come after you, but the amount that is short can be issued to you on a 1099 as a "loan forgiveness" causing you to pay income tax on that money.
Why is my mortgage company listed on my insurance check?
Your mortgage company is listed on your insurance check because they have a financial interest in your property and want to ensure that any repairs or damages are properly addressed to protect their investment.
Who is the saint that protect homes from foreclosure?
Saint Bankruptcy
How do you protect your home from foreclosure?
The easiest way would be to make all the payments on time to the mortgage company or bank.
Does private mortgage insurance protect you from being sued over foreclosure of your house?
No.No.No.No.
Can a home owners association foreclose on a home in Florida without informing the mortgage company?
Foreclosure is a legal process whereby all interested parties are included, or the foreclosure procedure cannot be completed. If you believe that your association is foreclosing on your title, and you believe that your mortgage lender has not been informed, you can inform your lender, since the mortgage is in your name, not the association's name, and your responsibility is to protect your name.
Can you protect your home in chapter 7 bankruptcy in Arkansas?
When you fill out the forms for the bankruptcy, make sure that you "reaffirm" the mortgage. That means that you will continue to pay the mortgage as agreed. The bankruptcy trustee that will be assigned to your case will guide you through the rest. HIRE AN ATTORNEY!! IF you own a home,,,NEVER go it alone for a bankruptcy.
How can the homestead exemption help against foreclosure in a possible Chapter 13 dismissal?
It doesn't. The homestead exemption protects property from being seized in a bankruptcy procedure or by creditor judgment. The lender does not relinquish the right to foreclose on property regardless of the status of the bankruptcy filing. Bankruptcy only temporarily halts the foreclosure of secured property.
Does private mortgage insurance change the foreclosure or deed in lieu proceedings?
Private mortgage insurance or PMI is insurance to protect the lender if the home is foreclosed upon and there is a deficiency. That deficiency is paid by the insurance company. It would not appear to have an effect on the foreclosure proceeding, just on your liability for a deficiency. However it is to your advantage also to have MI if your house goes into foreclosure. Not only do they pay the lender and cure a portion of the definciency, but often they get involved up front and try to work with the borrower and lender both to avert the foreclosure. That way they are paying a lower claim and the borrower gets to keep their house. I've even heard of the insurance company helping the borrower get short term loans, renegotiate the mortgage or helping them find a buyer.
Can you force a company in receivership into bankruptcy?
No, a company in receivership cannot be forced into bankruptcy because the company is already under the control of a court-appointed receiver. The receiver's role is to manage the company's assets and operations to protect the interests of creditors. If the receiver determines that bankruptcy is necessary, they can petition the court for bankruptcy proceedings, but it cannot be forced upon them.
How does one protect their mortgage if no representative from a mortgage company will contact them?
Send your mortgage company a "qualified written request" in the mail. They are required to respond to such a letter in 60 days. Please visit the links below.
Can a bankruptcy be filed on a reverse mortgage loan?
Yes, a reverse mortgage does not have credit requirements. you can use one to pay your way out of a bankruptcy, or one right after a bankruptcy. However, the bankruptcy court does have to approve the reverse mortgage if you are in the process of doing one or still paying on one.
If you already have filed for chapter 7 found out that your mortgage cannot be discharged. At the hearing can you ask to do a deed in lieu of foreclosure or is it to late?
You thought your mortgage would be discharged? And I guess you would just have then owned the house free and clear. You really are kind of far along to be asking these questions don't you think? even if it can be done and they agree, sure you want a to do a "deed in lieu of foreclosure" as part of your bankruptcy? Wow....what a surorise you aren't getting the result you expected...and really no surprise your in bankruptcy --meaning you asked the court to protect you from all those who trusted you and the promises you've decided to break to them and loss and trouble to cause. Really...why not get expert personalized help...your own counsel to explain it?
How do you protect yourself from incurring inherited mortgage debt from your father?
Generally, if your father owns real property and grants a mortgage while he is living there is no way you can "protect yourself from the mortgage debt" if he should die and you are his beneficiary. You could ask your father to purchase private mortgage insurance that would pay off the mortgage in the case of his death. However, if he does not then you have to decide if you want the property or not in the case of his death. If you don't pay the mortgage the lender will take possession by foreclosure. If you want to keep the property you'll need to pay the mortgage.
