Foreclosure

An order of dismissal for lack of prosecution is filed (usually by the homeowners attorney) when the bank/lawyers have not proceeded forward on a pending foreclosure case within a certain amount of time (usually 10 months).

If nothing new has been filed, your case can be dismissed by a judge.

OH YES! Many a homeowner has found out the hard way that once foreclosure starts, they had better monitor everything that happens - even if they have refinanced or got a modification loan. If a summons arrives - go to court and present your loan documents! If you fail to show up, they may go through with the foreclosure and then you are left to straighten out the mess after the fact. You might even find the house sold out from underneath you and the sheriff showing up and evicting you even though you are current in your payments on your loan. There have even been instances where a foreclosure went forward on a home that was PAID OFF. If you get a summons - show up and protect yourself!

Any information regarding the payment history, performance, or resolution of a debt that is reportable to a credit reporting agency can only be reported for parties who obtained the debt. This means you would only see reporting on under your name if you co-signed for the mortgage loan that defaulted.

The actual foreclosure action on a home does not report to a credit agency any more than the sale of one does. What reports as "foreclosed" is the mortgage loan that did the foreclosing. This will only be reported on the credit for those who signed for and obtained the debt under which the home was foreclosed.

For example; if you own a home that is paid off and for which you carry no loans, you fail to pay the taxes, and the county "forecloses" by selling your home at a tax sale, you will not have a foreclosure reported on your credit report.

Every state and county can differ, but generally these proceedings are conducted with very little fanfare or ceremony. An agent is generally given a list of properties that are to be auctioned that the agent literally takes to the courthouse steps. The agent will stand on the steps and read a brief script that includes the property and the opening bid amount. At this point any person who chooses to bid may bid, but they are required to have the cash or certified funds available for the amount they bid. The bidders often crowd around the auctioneer and signal their bids verbally or in writing. If the amount of properties going to auction is large, there may be several auctioneers and they may even read off properties at the same time, which means prepared bidders must already know which auctioneer has the property they are interested in.

If a bidder wins, he is the new owner. If there is no winning bidder the home becomes the property of the lender.

Yes, a house can go into foreclosure if the mortgage is not being paid, even if the property is tied up in probate. It's important to communicate with the lender and the probate court to address the situation and explore potential solutions.

You typically have to move out of a foreclosed home after the foreclosure process is complete and the new owner takes possession. This timeline can vary depending on state laws and the specifics of the foreclosure process. It's important to be prepared to move promptly once the foreclosure is finalized.

A Deed in Lieu Foreclosure can impact Social Security benefits if the forgiven debt is reported as income, potentially increasing the recipient's income and affecting benefit eligibility. It is important to consult with a tax professional to understand the implications on Social Security benefits.

The Redemption period in Kansas is 3-12 months after the foreclosure, depending on the amount of money (as a percentage) that has been applied to the principal balance. To redeem and sell after the foreclosure, the borrower has to re- pay the amount of the highest bid at Sheriff's Sale-- in addition to applicable interest and other fees. Many times, that offers a nice opportunity for both sellers (to walk away with cash and salvage a bad situation) and buyers (to purchase under the market prior to the home becoming property of the bank).

A homeowner who is foreclosed upon in the State of Maryland is exposed to the lender pursuing a deficiency judgment for the portion of the total debt not repaid from the proceeds of the foreclosure sale. The lender must pursue the in personum judgment (judgment against the person) within 3 years of the final ratification of the foreclosure.

Removing appliances from a foreclosure without permission can be considered theft, which is a criminal offense. Depending on the value of the items removed, the individual may face criminal charges and potentially go to jail. It is important to verify ownership rights and seek permission before removing any items from a foreclosure property.

Several states have statutory rights of redemption after foreclosure, including Alabama, Connecticut, Delaware, Iowa, Minnesota, Mississippi, Missouri, Tennessee, and Wisconsin. These states allow homeowners a period of time after foreclosure to buy back their property by paying the outstanding mortgage debt.

In general, a summons is an ORDER to appear. That is not open to debate. If it is physically impossible to comply with the order (summons is for next month in Kansas, but you are in Iraq for another 6 months) then it would be appropriate to write the court, addressing the judge, explain the problem, and provide documentation. If the problem is that is would be inconvenient, or that you would just prefer not to go.... you have a problem.

The purpose of the Judiciary Act of 1789 was to establish the federal court system in the United States. It laid out the structure of the federal judiciary, including the creation of the Supreme Court and the lower federal courts, and defined their jurisdiction and powers. It also helped to clarify the relationship between state and federal courts.

In certain cases, deficiency judgments are allowed in Minnesota after a foreclosure.

While they may be allowed in a judicial foreclosure proceeding, the amount of the judgment may be limited by the fair market value of the property that was foreclosed on. Homeowners have the right to a jury trial to determine the fair market value of the property.

If nonjudicial foreclosure is used with a power of sale clause in a deed of trust, and the six month redemption period is available to the homeowners after foreclosure, a deficiency judgment is not allowed.

Minnesota statutes relating to foreclosure of real estate are located at the following place in the state laws:

Minn. Stat. sections 580.01 to 580.30

In Florida, a judgment is a court ruling that confirms a debt owed by a party. A foreclosure sale date is set when a property owner fails to repay a mortgage, and the lender seeks to sell the property to recover the debt. This process allows the lender to auction the property to the highest bidder in order to satisfy the outstanding mortgage debt.

Generally, if you are the owner you should be prepared before the foreclosure sale. You will be given notice of the time and date of the foreclosure sale. When the foreclosure sale takes place and the property is sold you will no longer have the right to enter the premises. You should remove your personal belongings before the sale.

Florida is a judicial state for foreclosures. This means that lenders must go through the court system to foreclose on a property in Florida. This process typically involves filing a lawsuit against the borrower.

Arizona allows deficiency judgments, but there is one exception that allows many homeowners facing foreclosure to avoid this worry.

Purchase money mortgages on one- or two-family homes on less than two-and-a-half acres will be denied deficiency judgments.

However, a deficiency judgment in any case may be allowed if a court finds that the homeowners committed waste.

Ariz. Rev. Stat. sections 33-741 to 33-749, 33-801 to 33-821, 12-1281 to 12-1283, 12-1566

Mike Stivic finally moved out of Archie's house in 1978 after getting his degree in engineering.

Dismissal with prejudice in a foreclosure case means that the case has been resolved in a way that bars the plaintiff from bringing the case back to court at a later date. This usually indicates that the court has made a final decision regarding the foreclosure action, and it cannot be refiled.

The legal term for remove is "evict." It refers to the legal process of forcing someone to leave a property.

An order for possession is a legal document issued by a court that gives the landlord the right to take back possession of a property from a tenant. It is typically requested in cases of eviction due to non-payment of rent or breaches of the tenancy agreement. The order sets out a date by which the tenant must vacate the property, failing which the landlord can seek further legal action to enforce the order.

The rate of teenage pregnancies has dropped in the past ten years.