Foreclosure

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.

No. A borrower cannot "apply" for foreclosure. A bank commences a foreclosure when the borrower defaults on their mortgage payments.

You can take anything that was owned prior moving into the foreclosed home. Foreclose is a hard task and will not benefit anyone.

The amount of a court issued judgment.

The amount of a court issued judgment.

The amount of a court issued judgment.

The amount of a court issued judgment.

If the holder of the second mortgage, or deed of trust, forecloses, that lender takes the property subject to the first mortgage or deed of trust.

The answer to this is complex and heavily dependant on location and situation. Generally anywhere from 3 days to several years.

Once a home is foreclosed the new owner must either negotiate for the occupants to vacate or must initiate eviction. Occupants who were renters may have different rights than prior owners (some states require a landlord to honor the remaining terms of an existing lease agreement).

Many occupants negotiate a cash-for-keys deal where they accept a set amount of cash (often equal to 2-3 months rent for the area) in exchange for vacating the property by a certain date with the property left in good condition.

If the occupants do not negotiate or otherwise come to an agreement, the new owner may file a Notice to Quit that gives the occupants a set time to vacate (3 days, 30 days etc.). If the property is not vacated they can file an Unlawful Detainer suit which can cause the tenants to be liable for costs, fees and rents. This would ultimately result in a forced eviction by law enforcement.

Eviction is an expensive and time consuming process, and most owners are anxious to avoid it. The cash-for-keys deal is often very beneficial for both parties.

A motion for a judicial default, or a default judgment, is bringing a matter to the attention of the court due to the defendant failing to answer or appear to a trial. This judgment will award the complainant what they asked for in their complaint.

The county recorder (clerk recorder) for your county will have the transfer deeds that were recorded for any foreclosure or sale.

Depending on the workload for your county, it may take several weeks for this information to be available.

Mountain House, CA is a planned community that has become one of the hardest hit during the housing market crash over the past 4 years. In 2008 it was estimated that 90% of existing residents owed more than their homes were worth, with an average of $122,000 in negative equity.

Choosing a community of this type to own a home should come with a great deal of consideration for your goals and lifestyle. The community has abundant distressed real estate with many areas of the community completely vacant. While this makes for attractive home pricing, there are many negatives that come with that. As developers were unable to sell newly completed homes, unable to complete partially developed lots, and as exisiting residents either left or lost homes as values plummeted, what remained is a community struggling with lost revenue, suburban blight in the form of vacant homes, and a perception of a failed development.

Communities fail or thrive based on the psychology of people: if people desire to live there it may thrive, if they don't it may fail. No one can accurately predict where Mountain House will be in 10 or 20 years. Will it be a failed wasteland of dilapidated streets and vacant run-down homes? Will the fire-sale home pricing attract enough new home buyers to fill the streets with families again? The answer may lie somewhere in the middle.

If you are looking for an investment, a home in Mountain House will not be likely to produce a return for some time. If you are looking for an inexpensive community in which to buy a nicer home, then it might be a good idea to visit the community and talk with residents, city housing representatives and local leaders. They should be willing to go over what the city has to offer and what challenges it faces. No one knows what the future holds for areas like this, so the best you can do is gather as much information as possible.

Property Taxes are another issue. Mountain House started as undeveloped farm s and ranch land with essentially no public services or municipal government to speak of in relation to the number of people moving in- until the recent past. The development of local services such as schools, police, fire, and so forth was funded by bond taxes tied to property values and the taxes pinned to those. As property values plummeted and people lost homes, the basis for these services did so as well, meaning that if the remaining citizens wanted the same pubic schools and other services, they would have to pay the same amount spread amongst fewer taxpayers. Currently in 2012 that amount is projected to be about 1.8-2.0% of property value per year in bond taxes, so on a $400,000 house this could be about $8000 per year in bond tax alone. Brand new schools don't pay for themselves. Still, this tax situation is comparable to other neighborhoods in the Bay Area.

While the record of the foreclosure is valid and should remain regardless of the fate of the bank, technically it may be possible to remove it from your credit. Like any other item on your credit report you must dispute it. If you can supply reasonable evidence that the debt item is not yours, the credit agencies (Trans Union, Experian & Equifax) have 30 days to verify that the debt item is yours and reporting correctly. If the bank is no longer operating this may not be possible. However, if the bank was purchased by another entity or its records are otherwise managed by an exisiting company, verification may be possible.

You may not be able to. If you were a co-signer on the loan you are jointly responsible for the debt. Prior to the foreclosure it may have been possible to refinance the debt into just her name if she qualified, but now the collateral is gone and the loan is probably in collections. The lender needs every liable party they can get, they will not remove you.

The only feasible way to get this particular debt out of your name would be to pay it off with funds not in your name. For example; if another family member were to loan your daughter the money to satisfy or settle the 2nd mortgage and have her repay the family member herself, you would no longer have legal liability for the debt.

Both your ownership of a home and the Notice of Default that is the official start of the foreclosure process are public record. Some states require that the foreclosure sale (trustee sale) be published, either in a newspaper or other public media. Since this information is available to the public there is no violation of privacy when the information is posted.

When foreclosed homes are sold they are often sold at significantly reduced prices. Any time homes in an area are sold for prices lower than previous sales in that same area, the property values of all similar homes in that market area decline.

Many people mistakenly believe that if they sell their home under normal circumstances that foreclosure sales do not affect their values. Home sales are much like any other consumer transaction; items selling for lower prices in a market reduce the value of similar items regardless of sale reason.

Distressed or damaged homes, while not similar in condition to maintained homes, will still drag down market values overall even though a maintained home will still sell for a slightly higher amount.

Authorized gov't to seize and operate tie up industries and aloso mand any strike against a government operated industry a criminal offense.

A second lender (junior lienor) must be paid off if the property is being sold.

A second lender (junior lienor) must be paid off if the property is being sold.

A second lender (junior lienor) must be paid off if the property is being sold.

A second lender (junior lienor) must be paid off if the property is being sold.

They are a membership based program that allows people the opportunity to get legal counsel to defend their rights as homeowners and stop foreclosure. They allow you to get an excellent real estate lawyer to modify the terms of your mortgage with a comfortable payment plan stretched out up to eight months. Most lawfirms that do this type of work will request an upfront retainer of around $3-5K in one lump sum. At Apex, you can get them to work with you for as low as $490 down and $250/mo until it is paid off. This of course is based on approval and it only makes sense if they are saving you at least $250 a month or more, or they are stopping a sale date so a potential client can save their home.

Depends on how long it takes you to raise your credit score back to an 'excellent' rating and save enough money for a down payment.

according to JMP annual report 2011, which means the dollar amount of cardmember purchases, net of return. Issuer of card could receive a service fee from the volume, based on some percents , say, 0.01% , on the sales volume.

varialbe-rate mortgage

You can make new purchases and create new debt as soon as the day of the discharge of your bankruptcy action. However, if the cash your using was not disclosed in your bankruptcy, or was temporarily diverted to a friend or family member to avoid disclosure, then you may face federal problems if discovered.

If you are using disclosed cash, or new assets you obtained after your bankrupcy you would not have any problems. However, if your looking for a mortgage for this new house, willingness of a financial institute to provide you with new debts or loans will vary depending on how this effected your credit and other factors.

Prior to the problems in the mortgage lending industry it would have been possible, however today it is much harder since there really are no sub-prime banks anymore. I would say it may take a few years and diligent personal financial and credit management.

The foreclosing mortgagee can and usually does bid at the foreclosure sale. If the foreclosing mortgagee is the high bidder, it essentially pays itself up to the amount of its debt by canceling the debt to the extent of its bid. The foreclosing mortgagee only has to come up with cash if it bids more than the amount of its debt.

They cannot be taken without due process in the US. They can certainly be garnished or a lien put against them if the court has ordered it. It should be fully explained to you prior to it happening.

Yes, you will receive a form for a foreclosure property that you have abandoned. I just received one and is still lost about it. I don't know what the consequence of it. The best thing I would recommend for you is talk with a tax adviser and see what he or she recommend.

The borrower can sell the house up until the auction is completed. If it does not sell for the amount owed, the borrower may be able to get the mortgage holder to accept a short sale. Watch out for scams in this area.

Yes, they can but do not always do so. When a home is foreclosed, the bank tries to resell it. They can then come after the home owners for the difference in the amount you owed and the amount they sold it for. Sometimes though they never even go after hte home owner and just write off the debt instead.

They can, HOWEVER, they normally don't. They will keep it. If, however, it goes unsold for a significant period of time (normally 2-3 years, sometimes more), and racks up town fees and listing fees, the bank will sometimes give the house back to the original owner. You would be stuck with all those fees, any damage done, (I.E. Graffiti, vandalism, etc.) and so on, though.