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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
What happens to a second mortgage if there is a friendly foreclosure of the first mortgage on property?
How do you file a judgment against another person?
The individual wishing to obtain a writ of judgment must follow due process of law as required by the state in which the judgment is to be filed. Generally that would mean the person owed the debt (plaintiff) would file a civil suit in the appropriate state court against the debtor (defendant). If the issue is one of a Mechanic's Lien against real property owned by the debtor, the person to whom money is owed can contact the county recorder/assessor's office in the county where the property is located for information on how to file a claim.
Can a notice of lis pendens be filed prior to the actual lawsuit?
No. In order to file a lis pendens, the action must have been initiated and must be pending. However, depending on the type of case, you may be able to file a lien to protect your interest. I would see a real estate lawyer (if you are not already working with one)--real estate law issues can get very complicated.
In chapter 7 can you keep the house?
Yes. you can keep the home. Make sure to consult a bankruptcy attorney
If your first mortgage is in the process of foreclosure that foreclosure will extinguish the second mortgage as to the real estate. The foreclosure of the first mortgage terminates all subsequent interests in the real estate. After the foreclosure the real estate can be sold free and clear of any subsequent mortgages or liens. However, the debtor remains responsible for the second mortgage debt.
Any remaining proceeds from the foreclosure sale after the first mortgage is satisfied are paid toward the second mortgage. In some states the second mortgagee can seek a "deficiency judgment" in court against the debtor. However, even when possible it's not often done due to the costs and the slim probability the debtor will have the ability to pay.
You should check your state laws.
Is there a statutory right of redemption in Washington state?
Yes. 8 months unless the lien holder has waived thweir right to a deficiency. Then it's 12.
Some form of that phrasing is used in deeds in lieu of foreclosure and deeds from a mortgagor to the bank (to avoid foreclosure) in order for the bank to be able to preservethe outstanding mortgage debt.
Without that language the mortgage obligation would be extinguished when the bank takes title to the premises.
What is rule of mineral rights ownership when death to other party having one half mineral rights?
As with any probate estate, it would depend on any number of other issues, including the actual words of the grant of ownership (jointly, in common), then (assuming common ownership) whether there was a valid will of the other party and what the will says about property rights, and if no will, then where the person was domiciled when he or she died and what their laws of intestacy have to say, and if any heirs can be found, and if you can negotiate with the heirs, and so forth.
If, for example, you were named on a deed as "A and B", and B dies, then B's share passes to his or her heirs, whoever they are. If there is a will that gives the rights to A, then obviously A now has all the mineral rights, which would be exactly the same as if the deed had said "A and B as joint tenants with right of survivorship," although the estate tax issues may be different.
Who pays the liens on a sheriff's sale?
In a sheriff's sale, the responsibility for paying liens typically falls to the winning bidder who purchases the property. However, the specifics can vary based on state laws and the terms of the sale. Generally, any outstanding liens may need to be settled before the property is transferred to the new owner, but some liens might remain attached to the property, depending on their nature. It's essential for bidders to conduct thorough due diligence to understand any existing liens before participating in the sale.
ANY SERIOUS offer will be listened to.
No. The mortgage follows the whole property and it would all be foreclosed for non-payment. The bank would need to agree to release it lien on the property being transferred for you scenario to take place.
What can a lender do when the second mortgage is not paid in full due to foreclosure?
Assuming that the FIRST mortgage was foreclosed, a foreclosure wipes out any mortgages that were recorded after the foreclosed mortgage.
How long do red foxes live for?
They live 2-4 years in the wild, in captivity they can live to 10 years.
see the link
Added: Unfortunately for the tenant. VERY few. Under normal circumstances, when a rental residence is sold to a new owner, the home is sold "subject to" the existing lease. However, when the home is foreclosed on by the lender, they have no legal requirement to continue to honor the lease.
You can give back the home to the lien holder without going through foreclosure. You just need to make arrangements with the lender. It is not smart at this point to surrender your house after so many payments.
A creditor can ask for anything. The question really is whether or not it is likely that the request will be granted. I assume since you have made all of your payments per the plan, you have proof of such in the form of cancelled checks, bank statements, money order receipts, etc. If the payments are going to the trustee and then to the creditor, then you should find out whether or not the trustee has released the money to the creditor. Now, what you will need to do is hire a lawyer to file an objection to the motion for relief of stay and take your proof with you. It is unlikely that the stay will be lifted, however, you should not assume that it won't and do nothing.
Where can you find out where to buy some of the brilliant products used on the Holmes on Homes show?
FashionTIY
Is Kentucky a Recourse or Non-Recourse or One Action state?
Kentucky is a recourse state, allowing the lender to seek judgments and damages from the borrower.
Hate to tell you, but in WA, none. The senior lien has already foreclosed, any any junior lien (including deed of trust or mortgage) was foreclosed with it.
Where could possibly find and buy clergy shirts?
You can find and buy clergy shirts at the clerical apparel.
there is also an online shop that could help you get one with less hassle. try searching up for Churchgoers.
