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When a foreclosure is conducted according to law, the debtor's right of redemption is forever barred by the foreclosure. That means the debtor has lost the title to the property and the lender is the new owner. That phrase is also used when a municipality takes possession of a property for non-payment of real estate taxes through a judicial process. The final court decree in a tax title case forever bars the delinquent owner's right of redemption by reason of the tax foreclosure.
What else can I help you with?
What does barred out mean?
to be on xanax
What does SMS barred mean?
my phone says sim barred when i try to send a text
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 it mean to be barred?
To be barred means you are prohibited or banned from doing something or going somewhere. You can be barred from a public house, a shop, etc. When using a cell phone a phone number can be barred meaning you cannot call it. Usually premium phone numbers are barred to stop you running up huge bills.
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.
