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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
Can i sell a house in foreclosure with a lis pendens?
Yes, you can sell a house in foreclosure with a lis pendens, but it may be complicated. A lis pendens indicates that legal action is pending concerning the property, which can deter potential buyers. Additionally, the sale may need to be approved by the lender, and any proceeds from the sale may go toward paying off the mortgage debt. It's advisable to consult with a real estate attorney to navigate the legal implications and ensure compliance with local laws.
Mickey Mouse
What does it mean when a condo is in a foreclosure?
When a condo is in foreclosure it means that a lender is trying to recover funds from a borrower who has defaulted on their loan. The lender claims possession of the property to satisfy the debt.
Can mortgage companies seize property only 3 months in default?
In most places "TECHNICALLY" they can Seize property if a payment is 1 minute late.
The fact is that it will take them two months to do the paper work to do so, and they try to collect for month or so first because they know that 90% + of fore closures loose them money.
So it is not unlikely that if they think they are not going to get paid three months is about par for the course.
Should a tenant pay rent to a landlord who has lost his renters privilege?
If he lost his renters privilege, he is no longer a landlord
Does a security deed convey legal title to the property under Georgia law?
Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.
Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.
Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.
Yes. Georgia is a title theory state. That means the title remains in the lender until the debt is paid. However, the conveyance is a conditional conveyance. The lender cannot keep the property unless there is a default in the mortgage. If the mortgage is paid off the lenders interest is extinguished and it must provide a release of the mortgage that should be recorded in the land records.
Do you have to be out of your property by the foreclosure auction date?
No, you do not. State laws vary, of course, with some requiring formal eviction proceedings and others just giving you notice when you have to leave. Some banks will offer you the chance to stay in the property as long as you pay the equivalent in rent (technically, payment in lieu of rent). Some will offer you money to help with moving and finding a rental. Call whoever is handling the foreclosure or consult a local attorney.
Is there legal notification of foreclosure from mortgage company or bank?
Yes. The lender must notify the borrower of the pending foreclosure.
Yes. The lender must notify the borrower of the pending foreclosure.
Yes. The lender must notify the borrower of the pending foreclosure.
Yes. The lender must notify the borrower of the pending foreclosure.
What happens if the home fails to sell at the foreclosure auction?
by definition, a foreclosed property has to have someone file the foreclosure usually due to them being owed money and the property is security on the property. This is not cheap or free. Hence, there is always a "buyer" out there which is often the lender.
What happens after a house goes into foreclosure?
you get kicked out and you live outside instead of inside
How can you increase your credit score after a foreclosure?
A credit score may be increased after a foreclosure by optimizing the factors involved in calculating the credit score.
What are the factors of a credit score?»Payment History 35%»Amounts Owed 29.5%»Length of Credit 15%»Credit Variance 10%»New Credit 10%»Personal Information Variances 0. 5%How long do you have after your house is sold at foreclosure auction in Massachusetts?
How long do you have for what? You may be able to stay for a while as a tenant, usually at the old mortgage rate. It can be for a year or longer, and sometimes you may be allowed to buy the property through a new mortgage.
It is unlikely a property on its way to a sheriff's auction would free and clear of all taxes and liens. The very existence of a sheriff's sale indicates a troubled property owner who most likely has many other debts.
The only way to determine the status of the property is to have a title examination performed by a professional.
It is unlikely a property on its way to a sheriff's auction would free and clear of all taxes and liens. The very existence of a sheriff's sale indicates a troubled property owner who most likely has many other debts.
The only way to determine the status of the property is to have a title examination performed by a professional.
It is unlikely a property on its way to a sheriff's auction would free and clear of all taxes and liens. The very existence of a sheriff's sale indicates a troubled property owner who most likely has many other debts.
The only way to determine the status of the property is to have a title examination performed by a professional.
It is unlikely a property on its way to a sheriff's auction would free and clear of all taxes and liens. The very existence of a sheriff's sale indicates a troubled property owner who most likely has many other debts.
The only way to determine the status of the property is to have a title examination performed by a professional.
Subprime
Can you purchase a home scheduled for auction before the auction?
You are not able to purchase a home prior to auction unless the auctioneer and/or auction company has provisions with the seller to permit such a sale.
How do banks enforce an arm's length transaction?
Most banks will not approve a transaction, either from the loan approval side or the short sale approval side if there is a known relationship between the buying and selling parties. While it is possible for banks to be unaware of the relationship, the fraud systems most banks use when processing loans or transactions are usually very effective at detecting possible relationships. Shared prior addresses, maiden names, and other indicators are indicative of possible relationships. The enforcement method is denial of the loan or sale request.
AnswerBanks enforce an arm's length transaction by enforcing the contract that governed the transaction.
How many payments do you miss before wellsfargo forecloses in Oregon?
Not sure the case in Oregon, but usually after 3 missed payments, the foreclosure proceedings start.
How can you rebuild credit while in the foreclosure process?
If you are not paying your mortgage, your credit is taking a hit each month, so this would be like bailing out a boat while punching holes in the bottom. The best thing to do is wait for the damage to cease, then work on re-building.
Can foreclosure be circumvented?
NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.
NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.
NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.
NO. When the mortgagor executed the mortgage they granted the lender the power to take possession of the property in the case of a default. You cannot "circumvent" that provision. You may be able to stop the foreclosure by paying what you owe.
How long do I have to wait to buy a house after a short sale?
Congratulations on your shortsale! It will take some time for your FICO to recover, but you should be able to obtain a loan in a couple of years. Pay all of your debts on time; start saving for 20% down on another house and get your financial house in order. Then, apply for a loan and see what you can do. Mind you, many houses for sale today have deferred maintenance, and you may end up spending several thousand to bring yours up to par.
Can you file bankruptcy on day set for foreclosure?
As long as the date and time stamp on your bankruptcy petition is prior to the time of the auction on the date for the auction, yes you can.
How do you stop forecloserand eviction?
can we sue landlord for not putting security deposit in bank account in nj
Can you short sale your house to your spouse?
A short sale must be approved by the lender. It will not approve your proposal.
A short sale must be approved by the lender. It will not approve your proposal.
A short sale must be approved by the lender. It will not approve your proposal.
A short sale must be approved by the lender. It will not approve your proposal.
