0
Foreclosure
The process by which the holder of a mortgage sells a property after the debtor defaults on their loan for it
2,433 Questions
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.
Can you refuse to inherit a house which has more debt than it is worth?
You have the ability to turn down an inheritance. It is usually done to avoid tax consequences. In this case, it can help avoid issues and let the estate resolve the imbalance.
Does homeowners insurance continue after policyholder dies?
generally yes - to the legal representative - check conditions "death" for specifics or contact your agent/insurer.
How do you time an auction in gladiatus?
well its simple, there is a random generator that generates the times but it is still simple to determine the times, its usually around this,
very long: 2:30 hours
long: 1:30 hours
medium: 1 hours
short: 45 mins
very short: 20 mins
the corect formula is at
http://s4.bg.gladiatus.com/game/c.php?uid=46984
enjoy guys :)
VERY SHORT IS ONLY 10 MINUTES GUYS.
What happens if you default only on your home equity line but not your first mortgage?
The second mortgagee can foreclose and take possession of your property subject to the first mortgage.
Can a HOA foreclose on your property if you owe back fees?
Yes. Read your governing documents to determine the steps required by the association -- that they must take -- before foreclosing on your home.
The term "lis pendens" is Latin for "suit pending." A lispendens is filed against a real property to indicate that the title of property is in question, or that some sort of lawsuit involving the property could occur in the near future.
Social control is of two types:
#1 Informal social control: Informal social control is "unofficial" and tend to occur in small groups. they are of 4 types:
*social rewards
*punishments
*persuasion
*redefined norms
#2 Formal social control: Formal social control is official and is carried out by enforcing laws and rules by the authoritarian agencies. they include:
*school
*mass media
*religion
*state
*family
What is result of default on RV loan?
Default on an RV loans is a serious consequences. Besides losing your RV, your credit score is affected negatively and you will most likely still owe the bank money. It is good to avoid defaulting on your RV loan.
How much does attorney charge for loan modification?
It depends on the area. I've seen charge as much as 7,000 for a modification, with the median being about 5500.
Can you save your house from foreclosure?
Yes you can save your home from foreclosure. This is a primary reason people file for a Chapter 13 Bankruptcy, the automatic stay can stop a foreclosure as long as it's filed before the sale takes place.
To make sure that deposits in banks remained safe the was created?
The FDIC. aka: the federal deposit insurance corp. :P
If you default on a rental property mortgage loan can the mortgage company go after your assets?
That depends on the state, and whether the financing was "non-recourse". The process you want to find out about is known as a "deficiency judgment".
What does time off in lieu mean?
In Lieu means, in place of
some employee take time off work equal amount of overtime they have worked instead of paying them .this is mean
.
How long will a foreclosure be on your credit report and how will it effect your credit score?
A foreclosure can stay on your credit report for over ten years. It will have a significant and negative impact on your score.
Sales are the exchange of a commodity for money; the action of selling something. They also are an event for the rapid disposal of goods at reduced prices for a period, especially at the end of a season.
Fight your Lender. Don't let them intimidate you and ultimately take your property. These lenders are foreclosing Illegally. bank of America was going to foreclose on me. I was 18 months behind and had a sale date in 3 weeks. A buddy of mine told me he talked to Vic at Lighthouse Consulting Group. Vic got my sale postponed and now I'm suing my lender for eight separate complaints. if your facing a foreclosure and don't know who to talk to you've got to call Vic. He was awesome and explained everything in simple terms. 714 486-0654
If you foreclose on a home can they come after your vehicle?
In general, no. They are two different transactions. The only way something like that could happen is if there is some sort of court litigation going on. Just to be safe, check with an attorney.
Can I do my own loan modification?
Homeowners can successfully negotiate a loan modification on their own, although it is somewhat more uncommon than hiring a lawyer or private company and obtaining one.
With a decent amount of time to sit on hold and fill out documents that the bank will require for the modification, borrowers can negotiate directly. In many cases, it is simply a matter of calling the lender and requesting the documents to get started.
In cases of a more complicated nature, such as those involving predatory lending or mistakes made in the origination of the loan, the bank may be more interested in covering up the wrongdoing and taking the home to foreclosure anyway. It is in these cases where having competent legal counsel can be more beneficial for debtors.
