Foreclosure

No, if there is any surplus of funds from a public foreclosure auction, it goes to the homeowners.

This is why banks keep raising fees, interests, charges, costs, and any other monetary items they can impose on an account.

The bank wants to be able to collect as much money as possible from the sheriff sale of the home.

Not surprisingly, a surplus that goes to the homeowners is very rare. Most homes do not sell for enough to pay off even the first mortgage, let alone any other liens or create a surplus.

However, in the rare cases where there is a surplus, the homeowners often have to request it from the court or county clerk. They will not just be sent a check.

The government would rather that the homeowners disappear and leave the surplus for the government itself to claim, instead of letting the borrowers know they are entitled to some funds as a result of the sale.

Yes. They'll foreclosure against the estate.

A work share mortgage is when more than one title company prepares the title.

How do you get out of a second mortgage when the house has been sold on a short sale?

Dawes Plan

what if the person receiving the 1099-c has been deceased for over 3 years and they send they send a 1099-c for 2009 tax year? There estate has been closed also for over 3 years

For the Past 30 years, John Schepcoff has been mentoring and teaching other Real Estate Agents including Loan Officers and homeowners "how to understand the process of Short Sales, Foreclosure and past Foreclosure". When a person understands the process, the homeowner, Real Estate Agent or loan officer can now help the homeowner understand there is one more option. Instead of losing the home in a short sale or foreclosure, the owner can receive a securitization Audit. What will this prove? It will now prove that the bank does not own the loan but in fact the loan is now a stock. If the loan is a stock the bank can not force s short sale or foreclosure. John Schepcoff goes more into detail how this is done. If the homeowner still wants to sale the home, the agent will still be paid the commission and now the homeowner also will make money on their home. How about that! This becomes a more win/win for the agent as well as the homeowner. Most homes today have gone through securitization. You can learn more from John Schepcoff website. SavingYourHomeToday dot com. John Schepcoff also mentors and teaches how to do Lease Purchase or Rent to Own. If a person can control the property, they can make money.

Some states do not require a court procedure to foreclose a mortgage. There is usually a requirement to send written notice to the mortgagor (debtor) and to publish a notice of the foreclosure in a local newspaper. Then a representative of the mortgagee shows up near the property on the date set for the foreclosure auction. If there are bidders, there may be an auction. If there are no bidders, the representative may in some states just set foot on the property for "entry and possession."

It's when the trustee opens the bid at one price but is willing to keep bidding to a higher amount on behalf of the bank.

There is a program that can help you and the others. I think the company is Freedom USA Investing and they help people with underwater mortgages. They are able to put equity back in the property. The website is "refinanceunderwatermortgagehelp" {dot} com.

The program is able help 99.9% of the people who are underwater and can put the equity back into their property. Nothing like the government programs. Which they have you jump through a bunch of hoops only to tell you, you dont qualify.

http://www.refinanceunderwatermortgagehelp.com

Check it out. you got nothing to lose. It might be able to help you and others.

Take care,

Usually the notice of foreclosure sale will identify what the prospective buyer needs to show up with. It may or may not allow inspection of the real estate. If you're thinking you can put an offer in before the sale and cut a deal, the whole reason for a "public" sale is that the borrower is still entitled to the best price that can be had, and that usually requires auction style bidding. The lender usually, but not always, will bid in the amount of the debt for various reasons, not the least of which is to make sure if anybody else wants the property, they'll have to bid more.

Brian T. Moynihan is the President and CEO of BAC Home Loans Servicing, LP. His address is 100 North Tyron Street, Charlotte, NC 28255

If I am separted from my husband and not divorced yet can he get a Mortage (Security Instrument) on land that he purchased before we were married but now has my name on the deed without my signature? Or if he has asked me to sign as the mortagor because my name is on the deed of the land, am I acutaly obligated to that debt?

Declaratory Act, (1766), a declaration by the British Parliament that accompanied the repeal of the Stamp Act. It stated that the British Parliament's taxing authority was the same in America as in Great Britain. Parliament had directly taxed the colonies for revenue in the Sugar Act (1764) and the Stamp Act (1765).

22.5 years

I am a listing agent for OneWest bank in Southern California, how can I assist you?

They'll probably, eventually, foreclosure.

(second response)

The first lien holder will pay the second lien holder to prevent them from foreclosing on the property. A second lien would never get away with this, but if they did, boy would they be in the money.

Imagine if you took a home equity loan out on a $200,000 home for $25,000 dollars. You stop paying on the second lien, and they foreclose. Their $25,000 investment just returned $200,000. Be a hell of a day for a bank.

Flip side is, if a home with 2 liens does go into foreclose, the second (junior) lien gets nothing.

The money is gone after foreclosure.

If you put gasoline in my ferrari would you own half of it?

Unfortunately NO! One of the main reasons being how would you prove your paying towards the mortgage? and not just paying him rent?

The purpose of acts in plays is to break up the storyline into segments or sections. Each act typically represents a different part of the plot, allowing for transitions between scenes, changes in setting or time, and building suspense or tension throughout the performance. Acts help structure the play and provide the audience with natural breaks to digest the story.

Yes you can

Yes you, can. When a house gets foreclosed, it is based on the house itself, not its personal furniture and items.

If you mean because you're in default and want to avoid foreclosure, it's called a "deed in lieu of foreclosure" and it's usually part of an overall agreement that hopefully also extinguishes the mortgage debt. Typically the mortgage company is not required to accept it. They drive the bus.....