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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

If i short sale a house how long do i have to wait to purchase a dwelling?

If you short sale a house you don't have to wait any specific amount of time to purchase a dwelling. It does mean that the interest rate on the new mortgage could be higher than normal, or it may be more difficult to purchase a new dwelling due to the poor credit score resulting from the previous short sale.

Do you get any money if your house is repossessed?

It will depend on the costs involved. If the sale of the home brings more money than the mortgage, the remainder will go first to cover the costs of the foreclosure. If there is anything left, it will be paid to the holders.

When a couple are not married and one owns a home does this home become community property?

That will depend on the laws in that jurisdiction. Some have rights in property regardless of whether it is community property or not.

What does objection noted mean?

It usually but not always has a somewhat dismissive tone. The idea is that someone has brought a complaint of some kind to a person of authority. The person hears the complaint and then acknowledges that the complaint was heard by saying "objection noted". The person making the complaint maybe has some faint hope that the complaint will be acted upon, but the term simply means that the objection has been heard. Depending on the tone of voice, it can actually mean "I heard your complaint and I intend to do nothing whatever about it. Now go away."

How do you buy a house for less?

  • You can buy a house from an estate. By that time the house is often in poor repair and needs a lot of upgrades, and, the heirs may accept a low cash offer to avoid the work needed to clean it out and market it through a real estate agent.
  • You can buy a foreclosed property but again, be prepared to put in a lot of elbow grease. Foreclosed properties are often in bad shape.
  • You can check at your local tax assessor's office for properties that have been taken for non-payment of property taxes. They may have a list and a schedule when an auction will be held.

In all cases, you should be prepared ahead of time by hiring an attorney to represent you in any purchase and to have the title examined for any property you plan to bid on. The attorney may be able to negotiate the cost on your behalf.

Where can one find information on buying foreclosure properties?

To find information on buying foreclosure properties, you can carry out a neighbourhood search using the site Trulia to determine which neighbourhoods have the best offers. Secondly, after identifying your neighbourhood of interest, you can now get more personal and contact information using the site Emailforeclosures.

How can one find listings of real estate subject to foreclosure?

There are many ways that one can find listing of real estate that are subject to foreclosure. Houses that are subject to foreclosure will have notices on them. One can also obtain information on this from real estate sites.

Where can one obtain a list of pre foreclosure leads?

Pre-foreclosure leads can be found on RealEstate. It is good to invest in these lists while you get the good advantages, like discovering mysteries, discovering expenses, and you have more flexability!

What are the best options to prevent the foreclosure of my house?

The United States Treasure Department has a few programs to help prevent the foreclosure of your house. One of the best programs they offer is the Home Affordable Modification Program, this lowers your monthly payment to 31 percent of your verified monthly gross income to make your payments more affordable.

Where can one find more information about foreclosure investing?

To find good information about Foreclosure investing, go talk to a bank. Banks no everything about investing, and can answer any questions you have on the subject. Also, go find a Foreclosure representative. He can help you with finding good information.

Where can one find bank foreclosure listings?

There are many companies and websites that offer bank foreclosure listings. Some of these companies that offer bank foreclosures are Bank Foreclosures and Zillow.

Where can one find Michigan foreclosure listings?

There are a number of places where one can obtain information and find out about Michigan foreclosure sales. Such places include local and national newspapers and magazines, the direct foreclosure, and specialist foreclosure websites.

Where can one find information on Jacksonville foreclosures?

Anyone seeking information on homes in foreclosure in the Jacksonville, Florida area can check with a local bank or realtor. If they would like to shop online, they can look at Zillow, Bank Foreclosures Sales, Sunshine State Sales, or Realty Store, among others.

Where can one purchase trustee for sale?

One can purchase trustee sale, such as foreclosure property. One important thing to note about buying the trustee sale, it is a cash only type of purchase.

Where should one buy home foreclosure equipments?

You will most likely need to go to an auction to purchase any kind of equipment that has been repossessed in a foreclosure. There aren't really any direct sales without having to bid.

What does the term notice of default mean?

A notice of default is used to notify a borrower that they have defaulted on their debt. To default on a debt means to fail to repay it. So a notice of default reminds the borrower that he has not made a payment on his debt on time.

Where to check out foreclosed homes in va at?

If someone wanted to check out foreclosed homes in Va at there are a variety of places where someone can do so. Some of these places are foreclosures, zillow and Yahoo homes.