Foreclosure

In July of 2012, Aurora Loan Services LLC assets (mortgages, notes) were distributed between two other loan services companies through a commercial merger. Their names are NATIONSTAR MORTGAGE, LLC and SELENE FINANCE, LP. The bulk of the assets went to Nationstar. You can contact Nationstar at Nationstar Mortgage, LLC, 350 Highland Dr., Lewisville, Texas, 75067-4177, PHN: (888) 480-2432

If the second mortgage is in default the second mortgagee can foreclose and take possession of the property subject to the first mortgage.

I would assume the Public Trustee or the Bank would have to auction the goods off either with or separate from the house and the proceeds would go towards repayment of the loan.

Amerihome Group is a company that buys homes in foreclosure or assists in its resale via a Short Sale.

They are located in Tampa, FL and include St. Petersberg, Clearwater, Brandon, and Wesley Chapel or simply Hillsborough, Pasco, and Pinellas Counties.

- I called them. They sold my house.

I have sold some homes that could not be listed. They have not only bought the homes but gave me a finders fee for bringing them in. All around ok to work with.

I would consider Amerihome Group as a foreclosure fighter.

Amerihome Group will not only help you with a short sale in Tampa, but all over Hillsborough county.

-They go further than that I believe they go out to Largo as well.

I got a quote from them once. It wasn't the full price, but it didnt hurt my credit. I hate the economy and wish it would die....!!

They bought our office storage facility in Wesley Chapel and Yes Jay I did post on Wikianswers! .... Your spot: Come to amerihomegroup.com and get a quote today![cheesy used car salesman voice]

First position mortgage notes are a secure real estate contract that indicates an amount owed on a property. The position is an indicator of who has first rights of foreclosure should the payor default on the loan.

In the private cash flow notes business most investors are interested in first position notes and second or other (3rd, 4th) position notes are not as valuable due to the risk involved of possibly losing the investment in a foreclosure situation. the lower position notes would have to pay off the first or stand to lose their investment entirely.

Yes you can. I am currently purchasing a short sale house from people that had a 20/ 80 loan with two banks. It has been very long and tough but it can definetly be done!

The item will remain on your report for 7 years.

The home is simply collateral for the loan. Regardless of what happens to the vesting of the property (legal ownership) you are still liable for the loan. If a court awarded the home to a spouse, the loan should have been refinanced into their name. If that did not occur your liability for the loan has not changed.

This answer will vary by state and depends on the situation. In one-action states such as California, if a lender foreclosed they cannot pursue the borrower further. If a first foreclosed the second is free to persue the borrower. In California the statute of limitations for collection of a debt is 7 years.

Unlikely. Even government backed home loans require FICO scores in the high 500's or low 600's.

Not unless you used your home as collateral to buy the 2nd home. If your home was not involved in the transaction they can not take it. Some states allow a lender to persue a borrower for defficiency balance if the foreclosed home sells for less than is owed, which means you could be sued and have judgments placed against you. Technically it is possible for lien to be placed on your home in some circumstances but it would be near impossible for a judgment to cause the home to be foreclosed (possible in theory but very very rare in practice). And filing for bankruptcy often foils even the most devious collector.

The one liable for the loan is the one who signed the loan note. Anyone else just looses rights to the home without regard to the loan.

Some states, such as California, are "non recourse" states and a lender cannot pursue you for losses if then home is foreclosed and sold for less than was owed. This does NOT apply to non-purchase second mortgages. Other states allow lenders to pursue borrowers for a deficiency balance, or amounts owed above what the home sold for to match what was owed.

To answer this we would need to know where the home is. States such as California only allow lenders one action, which is usually the foreclosure. After that they can not be persued. A second mortgage however, may persue if they did not do the foreclosure. Other states allow for deficiency balances to be persued through collection actions and the courts.

In November of 2007 Citadel Investment Group purchased E*TRADE's securitized investments for $800 million. E*TRADE ceased offering mortgages after taking heavy losses in the melt down. They recently announced a partnership with PHH Mortgage to begin offering mortgage loans again, although with a very different approach.

That is the date the home will be offered for sale at auction, usually on the steps of the county court house. The auctions are public and bids are accepted by any qualified buyer, including the prior homeowner.

no

no

Absolutely. The forbearance is worked out with a different entity at the lender/bank. It's NOT the loss mitigation dept., You see Customer service can do a forbearance.

A loan Modification, the bank literally loses thousands of dollars, with the other, the bank makes more money, not less.

www. availableloanmodifications .blogspot. com I will show anyone free.

If I file chapter 7 or 13 how long can I stay in my house?

No. Homeowners Insurance does not cover the owners default on a mortgage note.

Lieu is French for place, so it means "time in place."

Forms to answer foreclosure lawsuits vary from state to state and even from court to court within a state, so there's no single source. You can check with the clerk of court in your location, but in many states you can find forms online. Use the first related link below to find forms in your state; just select your state, and then go to the "Choose a Court Resource Category" box and select Court Forms and Other Info.

If your state doesn't have any statewide forms for foreclosure lawsuits, look for your county to see if your local court has online forms you can use. If you can't find links to forms you need, contact your local court clerk - and you can find your court clerk's contact information on CourtReference too.

Theoretically, yes. However, it is unlikely you would find a lender willing to loan you money on less than a full interest such as a one half share in the property. When a lender loans money secured by real estate, it wants to be able to take possession of the the property by foreclosure if the mortgage isn't paid. If only one co-owner signed a mortgage the lender can only take their interest in the property.

In order for a lender to be able to foreclose and take possession of the property, all owners must sign the mortgage.