Foreclosure

Any payments you must make from Gross Income to keep the property running are expenses. Although a mortgage is usually also called a Liability Expense, it is still an expense to run the property.

Try Lasalle bank or any RE agent in the area and don`t worry, the seller of the home pays the commission to your RE agent.

A "step-rate" modification states that you will have a changing interest rate. For example, the first 5 years, your interest rate will be 2%, the 6th year will be at 3% and beginning the 7th year, you'll pay a fixed interest rate of 4%.

Step rate modifications always become fixed rates in time (normally after 5 years)

Homeowners who wish to short sale their home may select their own Real Estate Agent or Broker when doing a HAFA Short Sale. This is the case for traditional short sales as well. Real estate commission is a seller expense typically paid by the short sale lender from the sale proceeds

no i dont think any body would like their house repossessed because that will mean your a tramp, then u will be put in a dangerous place .. :'(

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You can reinstate your mortgage after judgment was entered. The bank can move to have the court set aside the judgment.

First, you need to be pre-approved through a mortgage lender to buy a home and know what price you can afford in a home. Next, you need to find a real estate agent who has knowledge in short sales from a buyers perspective. Knowing how a short sale works from the buyer and sellers end is important when you interview Realtors. Learn by reading short sale blogs on the internet so you understand the long process that goes with it.

A short sale home is similar to purchasing a conventional home except there is additional paperwork, understanding the bank needs to approve it besides the sellers and that you may have months to wait (and are you prepared for the wait). Important to find out if a BPO (brokers price opinion) has been done of the home yet. If not, the price the bank may establish they will settle for may be higher than what your accepted offer was. Be prepared to raise your offer price if you want the home in some instances.

With your pre-approval in hand, your Realtor can tell you what the fair market value is for the home you want. Review the comparable homes sold and offer your best price. Sign the purchase & sales agreement and submit to the sellers. Their agent will submit it to their lender for acceptance. Then you just wait for the process to get to closing.

The bank can refuse a payment if it is not enough to pay the past due amount. In this case, you may need to contact your bank about payment options.

The Plaintiff's motion for summary judgment is asking the court to rule on all pleadings that have been filed in the case. This happens if one of the defendants has filed an response or answer. The Plaintiff will usually ask for judgment when filing a motion for summary judgment.

The bank will start foreclosure proceedings. They will file a complaint against you in court and seek judgment. The house can then be sold in a sale or auction.

Salability : the subjective quality representing the likelihood of purchase. Having some salability indicates that something is capable of being marketed or sold.

John van Hengel.

You get to keep all of the contents which do not fall into what is commonly known as "fixtures." Furniture, furnishings and personal property are not fixtures, therefore you may keep them. Anything which is affixed to the house itself stays. Things like chandeliers, ceiling fans and wall-to-wall carpeting are part of the house and should stay; although frequently, many people remove items like that as they leave and nothing is really done by the repossessing party. The difference between fixtures and non-fixtures is not always very clear.

Some examples of after sales services are: Home delivery, warranty, free installation, etc

It is required to be mailed by the end of January 2009. Your receipt is obviously dependent on the USPS, it having the correct address, etc.

net income

Your parents' property will pass to their heirs at law according to the state laws of intestacy when their estates are properly probated. You can check the laws in your state at the related question link.

The mortgage must be paid or the lender will take possession of the property by foreclosure. If you want to keep the property then you must make arrangements to pay the mortgage. Some mortgage agreements allow assumption by a family member after the death of the original mortgagor.

In the case of real property the parent's estate must be probated in order for title to the property to pass to the heirs legally. You should consult with an attorney who specializes in probate law in your area.

i live in SD and my home was sold in foreclosure,how long do i have before i have to move out of it.

forclosure redeemed means that in the process of the mtg company forclosing on a property, the property owner was able to pay off the full amount due, therefore stoping the forclosure process

The country whose banks are the most restricted in the range of assets they may hold is

First a bank is not a nonprofit business. The difference in the interests rates is how they make their money and cover the cost of loans that default. By lending someone money the bank is risking that the money wont be paid back. That risk is theirs to carry if they charged the same interest to the borrowers as the depositors there would be no money cushion to cover the loss of a bad loan and it would be unfair for the depositors to loose their money because the bank made a bad loan.

NO

Yes

If your home is foreclosed you won't be able to qualify for Fannie Mae and Freddie Mac for a least 5 to 7 years. Just so you know that this two company are the reason why majority of the home went in foreclosures. Save up enough cash and paid for the rest. Thanks to them!