Foreclosure

Stripping a house before moving out is not legal. Anything that is a FIXTURE must be left. Personal property can be taken. States may vary by what they consider a fixture, but anything that is installed is definitely a fixture. Unless your contract specifically states you may, you may not remove anything that has been installed, EVEN IF YOU INSTALLED IT YOURSELF. It became a fixture of the house when you installed it. EX: A washer and dryer is normally simply hooked up, not installed and is therefore generally considered personal property. A dishwasher, cabinets, stove, etc, are fixtures. A microwave that just sits on the counter is personal property. the over the stove microwave is a fixture. If you are not sure, CHECK YOUR STATE LAW. You can be prosecuted for hindering a secured creditor or theft or similar depending on the state.

That depends on what the outstanding balance of your loan is, the value of your home, and how much the bank will settle for. There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.

When homeowners face foreclosure, the equity they thought they had in their house usually completely disappears by the end of the process. Especially if a house goes all the way through foreclosure and is sold at a public auction, there is more likely to be a deficiency than any profit from the sale. But even if the homeowners find a solution before that point, they can often find themselves quite dismayed at the evaporation of their home equity.

Equity in a home is destroyed during the foreclosure process by a series of circumstances. On the level of the individual house and mortgage, it can be erased by the bank's piling on of fees and charges, and by the desperation of homeowners to find a solution to the problem. On a larger social level, foreclosures in high numbers can lead to a general decline in property values in a real estate market.

When homeowners miss a mortgage payment, the bank will immediately begin charging as many extra fees as they can, many of which will accrue interest. All of these extra charges, if unpaid, will be counted against the homeowners' equity. Late fees, legal and court costs, and interest on unpaid balances can easily add more than $10,000 to the amount needed to pay off a loan, which has the effect of lowering the amount of equity people have in their homes.

Selling a house in foreclosure is also a difficult situation due to the lack of time homeowners may have to find a buyer and close the transaction. For this reason, they may be forced to give up much of their equity by lowering the asking price for the house to entice someone to purchase quickly. In the meantime, the bank will still be adding their own fees to the mortgage balance, which makes it even more difficult to get any profit from the sale.

The state of the housing market in the past year (as of this writing in May 2008) has deteriorated so that values are falling in general throughout the country due to higher than expected foreclosure rates and a lack of available credit. As property values fall, the equity in homes may completely disappear, with the homeowners going "underwater." This means that they have negative equity in their properties, owing more on the mortgage than the house is currently worth.

Thus, when foreclosure victims attempt to work out a solution and get ahold of their equity in a property, they may discover that much of it has disappeared. The longer it takes to resolve the foreclosure, the more charges the bank will add onto the balance, and the less time the owners will have to arrange a sale. As more homeowners face foreclosure throughout the country, property values will also fall further as more homes are placed on the market than can be purchased in a short period of time.

By the time a house goes to a public auction, it may be clear that the home is currently undesirable to most potential buyers. By this time the lender has added as many extra fees as it can, and the property will most likely be auctioned off for less than the total amount owed on the loan. This leads to the property selling for less than what is owed and the homeowners having a deficiency. Banks in some states can then try and sue the owners to get a judgment for this amount, although this is somewhat rare.

In the rare event that a house sells for more than what is owed on it, then the owners have a right to these profits. This is their return from the sale of the house, and they can claim it with their local county. They must do this with the county, though, because the local government will often not inform the owners that they are entitled to their profits from the sale of the property. The longer the homeowners do not claim this, the more likely it will simply be taken by the state as unclaimed property. It is always in the best interests of the owners to find out how much their property sold for at the sheriff sale.

The negative effects on a home's equity during the foreclosure process often destroys most of the equity that homeowners once believed they had. This is one reason why it is so important to try and work out a solution as quickly as possible, to avoid many of the extra charges the bank will add to the balance of the loan. But even if a method to stop foreclosure can be worked out quickly, the larger problem of generally declining property values can also have severely damaging consequences on homeowners' equity positions.

Most trained negotiators will advise you that "everything is negotiable." And it is true you never know what you may get until you ask. This being the case it is always advisable to negotiate with the IRS if you have a tax debt that has accumulated interest and penalties. Nothing can be done to negotiate interest due to the fact interest must be charged by law. Penalties is another story. The IRS will take clients thru a "reasonable cause interview" to determine whether you qualify for penalty abatement.

To increase your chances of success it is always advisable to have someone negotiate on your behalf who is knowledgeable and skilled at negotiating. Some professional tax resolution firms offers taxpayers a free tax consultation designed to help determine the best way to approach their specific situation. High level negotiations are best left to the professionals.

Business negotiations often calls for great preparation and insight into the subject being negotiated to avoid any embarrassment later.

Yes, in if you get a foreclosure against you in Indiana, they can definitely garnish your wages. However, they can only garnish wages if it is ordered by the court.

Normally when someone inquires if your bankruptcy is closed they are referring to has it been "discharged" When a judge presiding over the bankruptcy of a debtor and approves it. The approval constitutes a discharge of those debts and is thus "closed" On the other hand if the bankruptcy is not approved then the bankruptcy is "dissmissed"

But in your case a closure constitutes a discharge.

Yes, that process will be completed by the foreclosure proceedings. The bank is foreclosing (or recovering its interest in the loan) on the mortgage which is "guaranteed" by the property, to put it in simple terms. The foreclosure process will only allow the mortgage holder to recover the amout of its loan and associated fees, etc.

First of all it depends if your first and second are with the same lender. If it is the same lender you need to talk to them and first see if they are even willing to perform the deed in lieu, sometimes you may need to be 3 + months behind to discuss that in loss mitigation department. If they are different lenders, your probably not going to get done for various reasons. Biggest reason is there will not be enough equity to pay of the first and second, thus the lender holding the first will not want to regain the property and be responsible paying off the second to clear title. In this situation they would have to foreclosure on the property and recover more of their money because the second will not get anything or a small portion if the sale produced a price above what the balance was for the first.

Need to speak with representative

The property or item is almost guaranteed to sell, thus relieving the seller of the expenses and lack of income associated with the property. Additionally, because the property or item is going to sell at any price this attracts more bidders/buyers in an otherwise saturated market or depressed market.

call the tax assessor In Canada you'd call the Land's Title Office and I believe there is a fee of about $8.

Contact the bank and start your inquiry about negotiating a contract for cleaning and maintaining their bank-owned properties. The bank will start you in the right direction. It's a great idea since there are so many such properties. You could spend some time doing research in the land records to see if there is a lender with several properties in your area. A professional title examiner could help. You could make a list and do "drive-bys" to view the properties. You could figure out what your fee would be then make a proposal.

what do you want to know, please be more specific

yes it was it healed colds and can still do that if you rub it on your bellyand hop up and down 3 times

Robert Greenberg built two shoe companies from the ground up, each of which became a major player in the competitive footwear industry.

Until the money that is owed is paid.

Chapter 7 might not be for you. A chapter 13 stops foreclosures and repossessions. Filing both of these petitions are releif of active colletions, but which one suits your needs depends on several factors. Chapter 7 discharges repayment of "unsecure" dept such as credit card, medical bills, utility bills, etc. A court appointed trustee determines which properties,if any, must be sold to pay debit. Property that is not sold is called "exempt", which varies depending on area and may include home, car, insurance policies, retirement, etc. Check your state or local consumer protection office to find properties that are exempt in your county. This option is best if you do not expect to have a steady flow of income, if you have a lot of exempt property, and do not have significant assests such as alot of equity in home or car which could be sold to repay debt. Chapter 13 is a repayment plan of a portion of your debt depending on income. The debt is repaid over time, but interest rates are lowered, and balances reduced for example to minimize overall amount you pay each month. You are in bankruptcy until debt is paid in full. This is also ideal if you have alot of "nonexempt" property, such as a car or home that is either paid off or has alot of equity, or if your car is already in repossession and the bank is demanding the remaining balance be paid in full. It is up to the creditor if they will accept payments under chapter 13 once they obtain possession of the vehicle. Their decision will be made on your payment history with them, which if in this position, probably poor. If you think you are in jeopardy of losing property, stay in touch with them. If you can't make a payment on an agreed upon date, call them and they will work with you. If you keep in contact with the bank, you will know when, or if it is time to decide which one of these to file. If finances are spiraling out of control, don't stop answering the phone and opening mail, do the enevitable or it will cost you bigger bucks and more losses!

You NEVER get to file bankruptcy on a thing...YOU file bankruptcy, and everything you owe and everything you own is included.

Without BK, the amount you did not pay on the loan you must pay. The deficiency the bank will still want to collect.

If you can't pay off the loan on a property, you can't provide title to someone else, so you essentially can't sell it. In BK that excess is then classed an unsecured debt, (originally the loan was a secured debt, secured by the property which it gets first right to the proceeds from) and depending on how many assets you have to pay all your unsecured debts, may end up being relieved by the court.

According to the website mentioned in the Related Links below, Maryland is included in the list of "Thirty-seven (37) states and the District of Columbia permit adults age 18 or older to serve alcoholic beverages in on-premises establishments."

Absolutely! Painting the inside of your home will make it appear inviting, clean and fresh to prospective buyers. Having just sold my condo and bought a home, I think it is a must. Little things like fresh paint and clean windows make a big (subconscious) difference to buyers. Fresh flowers on a side table don't hurt either. :-) Good luck!

Ya of course you will have the option of inspecting the property. Its your right to check the property before you buy it.

For that purpose you need to contact the banker who has given the auction notice.

if you are from india

There is a good blog foreclosureindia.blogspot.com if you have any more queries regarding foreclosed properties to help you out.

and if you are intrested in buying any fore closed properties in INDIA foreclosureindia.com give you all the details . . im a registered user and it helped me.

Thanks & Regards.

Probably not, but it may depend on a lot of factors you have not presented. A trustee does not have ownership and is not a debtor as such, merely a duty with respect to the property. A motion to the judge handling the estate to enjoin the foreclosure would probably be more successful.

Consult a lawyer in your area.

Was that supposed to be in English?

The consequences should be spelled out clearly in the contract to purchase and there should be a deposit required to seal the deal. One consequence would be that the buyer would forfeit their deposit as long as that provision was specified in the contract. A good rule to remember is that the time to plan for the worst to happen is when you are drafting the contract.

if he is over 18, you can do a lot of things. you can refuse him food and a place to stay until he either helps pay or finds his own place. make him a deal saying "hey..i will give you ___ weeks to find your own apartment because i have plans for the room you are staying in and it's time for you to figure out things for yourself." and have him sign a consent stating your plans and the expected time he is to leave. once that time is up, do anything you want with the place he is living in. place his belongings outside and make his old room the study you've always wanted or what have you. Because it is actually your property and you said "out", it is illegal for him to force accommodations! of course you love your son and this may seem harsh, but the last thing you want to do is raise a moocher. it is really in his best interest that he learns to handle himself because he will have a much harder time later on, and will always have the idea that he doesn't have to work for himself. All he has to do is call up dad!