Foreclosure

Yes

the lender can seek a deficiency judgment against the homeowner in court

A security deed is used as part of a mortgage type transaction. It is a conditional conveyance of the property to the lender while the debt is outstanding. Legal title is transferred to the lender although the original owner has the right to the possession use and enjoyment of the property as long as the conditions of the loan are met. When the debt is paid the lender executes a reconveyance deed of the property back to the owner.

No.. Not unless the LLC is the debtor. Whatever issues the llc has, are at that moment; of no concern to the guaranteed Creditors. They have no personal guarantee from the LLC. There is no Direct responsibility for the Guarantee from the llc.

However, the Creditor can seek the assets of the Personal guarantor, including the assets held in the LLC to the extent that they are owned or controlled by the personal guarantor [borrower] 50% ownership would = 50% crossover from the personal guarantor's % of ownership.

It might delay enforcement until it can be made clear to the court and relief from stay is awarded. But It will not normally delay the judgment in the prior matter.

Get a consultation with a Specialist in this area of law. The comments here are based upon my lay interpretations and is not to be construed as legal advice.

Trenton Sims

California Broker

310.422.0435, 310.807.9230 FX Tsims@GreenPlanetFunding.com

I think you must have to visit this link there you will found many real estate dealers and agent also thyat they will work for you.

propertydir.com/

Generally not

I am not so sure if I understood your question correctly but....

People like sales because for people who really like the items but can't afford it they can buy it. What I am trying to say is for example if you are having a sale in a shop a lot more people will come because it is cheaper... You can also have sales to get rid of things because most probably it will sell out faster.

I hope this helped.

Please reply and comment.

Answering "What steps can a bank take to deal with a significant outflow of deposits?"

Contact the county clerk in the county where the property is located. With the address and/or parcel number, the clerk will be able to tell you the sale date.

If you are the homeowner and have your Notice of Default, it should contain contact information for the Trustee handling the sale. This may even include an automated sale information line that you can call for the most recent sale date information.

If you reaffirmed the mortgage in the c. 7, which went to discharge and was closed, no, other than possibly filing a c. 13 to arrange to pay the amount due. If the mortgage company received relief from stay while you were in the c. 7, the deficiency was discharged with the other unsecured debts. If you had a bankruptcy lawyer, ask him or her.

Most states that have a redemption period after a foreclosure auction give homeowners extra time to stay in a property after the sale. The house is foreclosed on, then sold at a public auction, and then the homeowners have time afterwards in order to save the house, pay off the redemption amount, get a new loan, sell, or just save up money and move on. The eviction will not start until after the redemption has expired.

A small number of states (Illinois, for one) have a redemption period that lasts before the sheriff sale of the house. Once the foreclosure lawsuit has been completed and the bank granted a judgment, the homeowners will be able to use a period of time between the judgment and the sheriff sale to find a solution. This may be just a few weeks in some states to half a year in others, but if the owners are unable to pay back the loan, the house will be auctioned off.

Usually, when properties sell at the county sheriff sale, it is the foreclosing bank or a related bank that puts in the winning bid amount. From that point on, it will be this new owner that the homeowners would have to deal with in order to get the house back after the auction. In a very small number of cases, a third party individual or company will purchase the house, but the manner in dealing with this type of owner is not much different than if the bank buys the property back.

When the redemption period has expired on a property, the original owners have very few options left to save the house, and very little time in which to do it. Banks, while they may be willing to push back a sheriff sale or give homeowners an extra month to come up with missed payments, will not usually be open to extending the redemption period. Typically, the lender will begin with eviction process right away as soon as the homeowners have run out of time.

This should not come as much of a surprise to homeowners, however. After all, mortgage companies may have to wait up to a year for a redemption period to expire, which is time they would not have had to wait in other states to take the house back. When the lender can finally begin to pursue the eviction, they usually do so aggressively, understanding that if the foreclosure victims could not work out a solution in the preceding months, it is unlikely they will be able to do so with even more time after the redemption.

So, the main option that is left for homeowners is usually to purchase their property back from the bank. Now that the redemption has ended, the bank is the legal owner of the house and holds title. If the former owners wish to keep the property, they will have to find some way to get it back in their names and have the mortgage company transfer ownership back to them.

For homeowners with a lengthy redemption period who have the financial ability to save money every month, it may be possible to qualify for a mortgage after foreclosure within 6-12 months. A sizable down payment will be required, however, up to 35% of the purchase price. But people who were foreclosed on a year ago may be able to afford to buy back their former home at a substantially reduced price, due to declining property values nationwide.

Otherwise, the most effective way to stay in the property may be to have a friend or family member purchase the house and agree to lease it back to the owners. This investor can buy the house and keep it in his name, and then lease it to the foreclosure victims until their credit has recovered and they have saved up enough to qualify for an outright purchase.

Unfortunately, due to the entire foreclosure process and transfer of the property out of the names of the original owners, most options are unavailable after the redemption period. Banks will not accept forbearance agreements or modify the loan, and simply refinancing a home that is no longer owned by the original family is out of the question. For homeowners who want to save their house after the redemption has expired in their case, there is little to do other than attempt to purchase the property back from the lender.

The process is the same for any tenant the landlord wants to evict. First the tenant must be served a 30-day notice if the rent is month-to-month, even if the "tenant" has not paid one penny towards their rent (if you agreed to let them live there rent-free) When the 30-day notice has expired you must then file eviction proceedings. First you must serve a three-day notice stating that they must pay their rent or move out. When that notice has expired you must then file a petition or complaint for eviction. Each state has their own process by which this must be done. In Florida you must file the petition with the county court's clerk's office. A summons will then be served upon the tenant by a sheriff's deputy and the tenant must follow the directions on the Summons regarding how to answer their Summons.

The difference between what is still owed on the mortgage and what the property was sold for at the foreclosure sale is called a "deficiency". The ability of a lender to collect the amount of the deficiency is governed by state law. You need to check the laws of your state for a definitive answer. See the discussion at the link provided below for more information.

No, just adds to it.

The credit report is just reflecting historical information....your actions after the fact don't change the past.

Yes, collection agencies can do this.

However, first they need to sue the borrowers and obtain a judgment from the court against the general assets of the defendants. Usually, a judgment will become a lien on any real estate property the borrowers own.

If the collection agency does not go to court to sue for a judgment, however, it can not place a lien on a home. And not all states or counties may allow judgments to be attached as liens, although many do allow this process.

Very much liking someones achievement

You could go to the bank and open an 'escrow' account, and put the rent in there.

Eventually either your landlord, or your landlord's estate, or your landlord's creditors will come looking for it, and when that happens you want to have both the money itself and proof that you made a good faith effort to pay it in a timely fashion.

Yes. The tenant owes the rent to the landlord, right up until the foreclosure sale happens.

In almost all cases, you should receive a notice from the county sheriff's department at least a few days before the scheduled eviction. However, it is never a good idea to trust government bureaucrats to be efficient, as that is one thing they almost never are.

There are numerous other ways to find out how much time you have, other than trusting in someone from the sheriff to come and post a notice on the door.

First of all, you should know when the county foreclosure auction took place. That will give you a good idea of when your ownership interest in the property was transferred to the high bidder at the auction.

Then, you should look up the state foreclosure laws to determine how much time homeowners have to stay in the home after the sheriff sale. Some states allow for a redemption period where the foreclosure victims are given more time even after the sale in order to pay back the amount they owed on the house.

Redemption periods differ widely by state, with some having just a few weeks to others having up to a year after the foreclosure auction. Of course, other states do not have a redemption period at all. This is why it is essential to look up the state laws, so you do not move out the property too soon or too late.

But the court, after the sheriff sale is over, should send you a notice to appear for the eviction hearing. At this hearing, the bank will be given possession of the house and an order will be given to the county sheriff to evict the former homeowners. However, the most important reason to go to this hearing is simply to get more time to save the home or move out of the property.

The judge can grant you a few extra days or weeks to obtain a new apartment and begin moving out. This can't be done, though, if no one shows up for the hearing in the first place. The lender will just be given possession and the order will go out to the sheriff to evict as soon as possible.

When you purchase a home by borrowing money the lender has you sign a Note which explains the terms under which you are borrowing the money i.e. amount borrowed, interest rate, first payment date, all due and payable date, etc. The Note is your I promise to pay agreement with the lender. That Note is then secured by recording a Deed of Trust against the property - this creates a lien securing the lenders interest in your property. The language of the Deed of Trust is legal boilerplate language stating how much the lenders lien is, telling you to keep the property insured, maintained, your payments made and how they will foreclose if you don't. This is recordered at the County Recorders office. Now let's say that you want to sell your house and the buyer doesn't have the ability to obtain conventional financing - so they ask you to carry the Note and you agree. An All-inclusive Note would have to be signed by your buyer wherein it states the how much they owe you, the terms of your agreement with them as far as interest and payments. This Note also has to state the terms of the loan you already have on the property - because you are not paying it off - you are "wrapping" this new agreement around it. So there payment to you will then make your payment on your loan and any difference would be yours to keep. The property is deeded to your buyer - therefore your interest in the property and your Note is secured by an All-inclusive Deed of Trust which is recorded at the County Recorders office. This All-inclusive Deed of Trust secures your interest and gives you the ability to foreclose and take back the property should the buyer not make their payments.

What is the law to evict someone from rental home

search for newspapers in the city where that relative lived ... and search their obituaries. go to the social security death index on the internet and type your relatives name in and see if you can find them there.

3.5

In many cases the real estate agent or an attorney acts as "escrow" agent for the deposit and should release it to you within, say, 30 days of exercising your contingency to not proceed. Depending upon why you were unable to buy the house, you may also lose the deposit (e.g., if you didn't come up with the money, but didn't have a mortgage contingency, or it lapsed before you could notify the sellers, etc).