Foreclosure

YES...

In Georgia, homeowners typically have about 30 days to vacate their home after a foreclosure sale. It's important to check the specific timeline outlined in the foreclosure notice received from the lender to understand the exact timeframe.

Typically, staying in a house that is being foreclosed upon is not recommended as it can complicate the foreclosure process and could result in legal consequences. It is best to consult with a legal professional about your specific situation and options.

You still owe the money to the mortgage provider.

His primary responsibility is to persuade the customer and sell his product. But at any cost, that should not be a moment of irritating the customer

If you received a 1099-C, cancellation of debt, you need to know your options.

Typically foreclosures are not considered to be "Arm's Length" as one of the parties is acting under duress.

WoW if the payment isn't made then guess who will come and take the house We do not want to keep the house, nor live in it. We are paying the mortgage payments and trying to sell the house, however in this market, it's not likely. At this point we just want to get rid of it. Trying to find out if our credit would be ruined or if we would be held financially responsible if the house foreclosed. ============================================================= These issues issues are the responsibility of the executor(s) of the estates of the deceased persons. If the executor(s) has/have not retained a lawyer, that is the first step in the process. Foreclosure is an action taken by the lender when payments are not made. The lender launches a legal proceeding to take over ownership of the property. The asset (the property) could be lost if nothing is done to prevent foreclosure. ___________________________________ I know what a foreclosure is...I am wondering if me and my sister would be held financially responsible for any outstanding moneys/debts on the house when it forecloses. I also am wondering if our credit would take a hit if we decided to do a short sale or foreclosure?

A written document that cancels or annuls the effect of a notice of default when a default has been cured (reinstated). This document does not require the acknowledgment of a notary public, but must be recorded with the county recorder in the county in which the property is located.

Unfortunately, foreclosure happens.

A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.

A summary judgment motion tells the court that based upon all the pleadings filed in the case, there are no issues of fact for the court to resolve at a trial, and that the plaintiff is entitled to a judgment without a trial, as a matter of law.

It is one part of the whole eviction process. The writ is what you give to the Sheriff for the eviction. Then the Sheriff goes to the property and does what they need to according to lawful procedures.

A down payment will reduce the principal borrowed which lowers your monthly payments. A large down payment may also help lower your interest rate and may help you avoid paying PMI.

If, for example you were buying a $200,000, at 5% for 30 years, the payment would be $1073.64 per month. If you put 10% down, or $20,000, your monthly payment would be $966.28 and you would save about $20,000 in interest.

It sounds like you are not on the mortgage with your husband on your previous home. If he is foreclosed on, and you are only on the deed, then you have no financial liability. If you are buying a new home and you are on the mortgage with your husband, you won't be able to get a mortgage because you are on the verge of foreclosing Be careful when buying a home while separated however. Depending on what state you live your husband may be entitled to half the equity in your new home in the event of a divorce. Its called community property Here is a list of community property states: http://www.bankapedia.com/mortgage-encyclopedia/residential-mortgage-terms/121-community-property

You get your property back and get to keep any money already paid for it.

Mortgage is a conveyanceof property, subject to a right of redemption whereas a charge only gives a right to payment out of a particular immovable property without transfering it

NO

Assessments - you call them fees -- pay for the operation of the condominium community. Whoever enjoys the ownership privileges of the community is liable for the monthly assessments.

If you are the owner upon whom the foreclosure is executed, you still owe your unpaid assessments up to that date.

If you no longer own the unit and there are unpaid assessments that you owe, these are valid debts you are obliged to pay. Read your governing documents to verify that assessments are an automatic lien in your title, and that you may also be liable personally to pay the debt.

When you purchase a condominium that has been in foreclosure, you are required to pay the ongoing assessments, and may have a responsibility to pay the assessments in arrears, depending on how the foreclosure agreement was structured.

If you do not get another policy the mortgage company will procure its own policy which will only cover your home. The policy covers the bank's interest, not yours. For example, if your home burns down, the "forced placed policy" will not cover any damage to your contents.

Wells Fargo

It is considered a Recourse loan as the account holder are still responsible for any outstanding balance when the account is closed which has not been challenged for unauthorized use and such. However, the account holder is only liable for the balance as long as the Statute of Limitations (Which varies by region (In the US, from 3-15 years by state from last non-institutional transaction)) remains in effect.

Most likely, nothing, as long as the payments continue on time. If the payments stop, the lender with foreclose on the property and the borrower's estate will be impacted. The payments are still due beyond the death of the borrower - they become the responsibility of the borrower's estate.

An equally important question is who is now the legal owner of the real estate. If the decedent didn't transfer the property to a survivorship tenancy with another, their estate must be probated in order for title to pass to the heirs at law or under the terms of the will. An estate of real property must be probated in order for title to the property to pass to the heirs legally.

A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.

No.