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Yes, in fact ALL OF YOUR PROPERTY (including personal property, incoming rents or wages, etc) can be attached and seized for such a debt (or perhaps ANY debt), in case the foreclosure and public auction does not result in satisfaction of the entire obligation under the note. A court can then order forfeiture of the attached property, in a proper case.
The only special thing the mortgage lien does is reserve first priority to that lender, giving them more "security" in case of default, and the legal right to foreclose, rather than having to first obtain a court order of judgment.
What else can I help you with?
What assets can be taken with a Florida deficiency judgments for foreclosed property?
Whatever they can sell to reclaim their losses. You may need to proceed with bankruptcy to protect other assets. Consult an attorney for specifics.
During foreclosure can private possessions be taken as collateral?
No only the house is the item that is being foreclosed on unless it is a federal tax lien or certain other foreclosures.
IF A HOUSE has been foreclosed what are the rules and regulations about going onto the property?
If a house has been foreclosed the lender has taken possession of the property and the borrower no longer owns it. Therefore the former owner has no right after the foreclosure to enter the premises. Arrangements to remove personal property should be made prior to the foreclosure sale.
Can the deck be taken from a foreclosed home?
No. Once a deck is installed it is "real property" and becomes part of the real estate. If it were just "lumber" & blocks it would be personal property but once built and attached to the land or house it becomes part of the property.
What assets can be taken if house is foreclosed?
In a foreclosure, the primary asset that can be taken is the house itself, which serves as collateral for the mortgage. Additionally, any equity the homeowner may have built in the property can be claimed by the lender. In some cases, depending on state laws and the specifics of the foreclosure process, other assets may also be at risk if the homeowner has defaulted on unsecured debts. However, personal property such as vehicles or other possessions typically cannot be taken in a foreclosure.
Do you get your car taken away after getting foreclosed?
Er.Yes
Can you still stay in a foreclosed home?
Foreclosure doesn't happen immediately. Once you receive notice of foreclosure you will normally have a timeframe when you must vacate the property. If you do not vacate, then the bank/company/person who is seizing the property can have the authorites force you off the property- with or without your belongings.
How do you control ownership of a foreclosed property and than transfer ownership to an auctioneer?
Ownership of a property that is being foreclosed is perfected in the mortgagee as long as it has taken possession according to law.Ownership is not transferred to the auctioneer. Generally, under state laws, a licensed auctioneer is authorized to sell the property on behalf of the mortgagee.If you have questions about conducting a foreclosure in your state you should consult with a local attorney who does foreclosures. If any errors are made in the foreclosure process the results can be very expensive. If the foreclosure was done by an attorney, they would be responsible.Ownership of a property that is being foreclosed is perfected in the mortgagee as long as it has taken possession according to law.Ownership is not transferred to the auctioneer. Generally, under state laws, a licensed auctioneer is authorized to sell the property on behalf of the mortgagee.If you have questions about conducting a foreclosure in your state you should consult with a local attorney who does foreclosures. If any errors are made in the foreclosure process the results can be very expensive. If the foreclosure was done by an attorney, they would be responsible.Ownership of a property that is being foreclosed is perfected in the mortgagee as long as it has taken possession according to law.Ownership is not transferred to the auctioneer. Generally, under state laws, a licensed auctioneer is authorized to sell the property on behalf of the mortgagee.If you have questions about conducting a foreclosure in your state you should consult with a local attorney who does foreclosures. If any errors are made in the foreclosure process the results can be very expensive. If the foreclosure was done by an attorney, they would be responsible.Ownership of a property that is being foreclosed is perfected in the mortgagee as long as it has taken possession according to law.Ownership is not transferred to the auctioneer. Generally, under state laws, a licensed auctioneer is authorized to sell the property on behalf of the mortgagee.If you have questions about conducting a foreclosure in your state you should consult with a local attorney who does foreclosures. If any errors are made in the foreclosure process the results can be very expensive. If the foreclosure was done by an attorney, they would be responsible.
What property is exempt from being taken by a collection agency?
all of them
If your car is paid off can it be taken if your house is foreclosed?
Yes. And any other posession deemed not a basic need as defined by your state, and free of liens.
What do foreclosed mean?
The action taken by a bank or loan company to call in a loan or mortgage.
Do you have a legal right to get your property out of the house after a foreclosed house is sold?
Check your mail. You were probably notified of an end date to remove your property. Once the buyer has taken possession of the home the contents are theirs. You could politely ask for them, but do not expect to enter the house or have any particular accommodations to your plight.
