Foreclosure

It depends on who you're asking for a loan. But, maybe.

Both a foreclosure and a short sale will ruin your credit for many years. With a foreclosure, it's best to file a Chapter 7 bankruptcy to protect you from the lender. The lender has up to 10 years to come after you for the loan deficiency. For example, if you owed $200,00 on a mortgage, and it cost the lender $75,000 to re-sell your property, you could be liable for that $75,000 deficiency. On a short sale, the lender can still come after you, but the amount that is short can be issued to you on a 1099 as a "loan forgiveness" causing you to pay income tax on that money.

I live in indianapolis, and just a few minutes ago i was able to get this information on an abandoned property by calling the tax assessors office. I just asked where the tax bills were getting sent to - and they stated a taxing service company. Since this confused me, i told them that my neighbors house has been vacant and was wondering who owned it - she put me on hold for a minute and then told me the mortgage companys name and phone number. might not work for you but hopefully this helped.

Talk to your local council or local authority about a derelict property you find interesting. They can usually provide title deeds information etc. Visit sites like www.derelictpropertyforsale..co.uk for general information.

You have a few options. First, I recommend you get an attorney. This is important, even though it may cost a bit. With an experienced attorney you always have options.

Depending on how far behind they are, I would suggest different approaches.

One month behind but still paying:

Try to talk to them even if they are avoiding you. Being one month behind but still making payments is better than nothing at all. Do not go out of your way to be nice, but try and work something out with them.

Several months behind:

If they are repeatedly avoiding you and have fallen very behind, I would suggest commencing foreclosure proceedings against them. This will at least force them to put the house on the market and if not, lose the house to you, at which point you can sell it or lease it out to recover some of your losses.

Think Properties NYC.

Yes. There are two parts to your question that many people don't think of when they talk about credit. The score and the actual items on you report are two separate issues when lenders decide to give you credit. For example, a credit card company may give a card to someone with a 717 credit score who was late on their mortgage 5 years ago, but refuse a card to someone with no mortgage lates but a 670 credit score. A mortgage company might refuse that 717 person a mortgage loan but grant it to the 670 person. So, while the actual item on your report will haunt you a bit for certain loan types for 7 years (foreclosure) or 10 years (bankruptcy) your score may improve drastically as time goes on. The key is to be VERY careful moving forward. Use credit sparingly and carefully, don't carry high balances and pay your bills on time. I've seen people shoot up 80 points over 4 months because they were careful with their credit after a finanical hardship. Credit ratings are all about behaviors over time.

If you foreclose on your 2nd home, it will not affect your primary home. It will actually free up money so you can pay your first mortgage.

The fair to poor rating will not help you. It means that either you have a high amount of debt to credit or it means you pay bills late on occasion.

Either way you need to get that rating up. Paying down credit cards or paying them more on time is the key there. Don't take out more loans until that score is 700 or above. Once you make it there it will probably be possible to work on the home.

Foreclosure is a legal process in which a lender like a bank or mortgage company attempts to take over the debtor's property to satisfy an unpaid debt if the property has been kept as a collateral security for securing the debt. The lender may claim ownership of the property or sell the property to pay off the pending debt.

There are two ways in which a foreclosure can happen. In the case of a Strict foreclosure the judge sets a specific period called "law days" after which the property owner looses all rights over the property. The number of law days can vary from three weeks to nine months. This period can be used by the property owner for clearing the debt so that the foreclosure can be avoided. If the owner fails to clear the debt, then the next person who is listed as a defendant gets the chance to redeem the debt and take ownership of the property. If none of the defendants clears the debt by the law days set for them, then the bank or company foreclosing is entitled to the property.

In case of a foreclosure by sale, the judge sets a sale date. On that date, a "committee for sale" appointed by the court can auction off the property to the highest bidder. This committee is given all the powers to carry out such an auction by the court of law. The auction money is first used to cover auction expenses. From the remaining amount the lender or lenders are paid off and if anything is still left, it goes to the property owner.

The foreclosure steps broadly involve receiving the summons which is issued by the plaintiff - which could be a bank or mortgage company - to the defendant - property owner/ borrower. Within two days of the Return Date mentioned in the summons, the defendant has to file an Appearance. Then within fifteen days of the return date, the defendant has to file an answer. This answer has to be sent to all the parties concerned in the case. A signed certificate of service has to be attached. If a foreclosure by sale is desired, a motion for foreclosure by sale has to be filed. And before twenty five days of the return date, the defendant can apply to the court for protection foreclosure. The defendant in such a case has to satisfy the eligibility criteria for protection from foreclosure like being unemployed or underemployed.

Subprime foreclosure is similar to any other foreclosure. It is a foreclosure against subprime lending which involves lending at an increased credit risk. This means subprime lending is given to borrowers who are high risk that is who have a high likelihood of not paying their loans. Typically, borrowers are given enough time - longer than the agreed period - to pay off debts. Only when the period exceeds several months do the lenders decide to foreclose. This is because foreclosure is a long drawn process in general and banks and other creditors try to avoid it as much as possible.

Hope it works, you can always try http://www.righttocancel.com

No, it does not

The mortgage company did not go to their own court date and the foreclosure was dismissed. They will be able to refile it if it was without prejudice.

Legally how much time for eviction after foreclosure in arkansas?

no

You can not speak with Bank of America's R.E.O. department directly. Per several Bank of America employees, you must deal with the listing agent that Bank of America uses.

Hi, the number is 866-781-0029. You're welcome. P.S. I'm not related to the person that made the first comment. Mike

I would be very surprised if the bank is actually willing to hold you 'harmless'. Turning over a deed in lieu of foreclosure is no a 'get out of jail free card'. There are credit reporting ramifications similar to a full-blown foreclosure proceeding, and these issues will follow you for a number of years to come. DO YOUR RESEARCH! Don't believe everything the bank tells you - make sure you know what you're getting into before you sign or agree to anything. This is one of many, many articles regarding the effects of DILOF: http://homebuying.about.com/od/4closureshortsales/qt/060907SScredit.htm Best of luck.

The time it takes to finalize a loan modification depends on a number of issues.

The first is how long it takes the homeowners to get back on their feet financially and be able to afford any type of monthly mortgage payment.

It also takes time to contact the bank and discuss what options are available, and get the application for the modification.

Homeowners then need to spend time obtaining financial documents such as bank statements and tax returns, and send this information to the lender.

If a servicing company is involved, it will have to send the loan modification application to the actual owners of the loan who have authority to approve or deny the modification.

If the modification is approved, it can go into effect within a period of weeks to a month after the borrowers are informed of the approval.

The entire process can take from a few weeks to six months for some homeowners. Those working with private companies, housing counselors, or attorneys may be able to negotiate an agreement more quickly than debtors working on their own.

This is a very hard question to answer because there are no specifics regarding the size of the house or the condition of the house to be cleaned.

I have cleaned houses for $100, and I have cleaned houses for over $1000.

After a home is foreclosed in Texas, the former owner generally has to vacate the property. The exact timeline can vary based on the specific circumstances of the foreclosure, but typically the former owner has a few days to move out after the foreclosure sale or auction. It's best to consult with a real estate attorney for specific advice relevant to your situation.

Loan modifications allow the bank to make loan payments more affordable for borrowers. They may change interest rates, loan terms, loan balances, or other parts of the loan agreement.

Loan Modifications are changes to your loan agreement. Your payments get more affordable, and you don't have to default on your loan. Banks choose to offer loan modification programs because it is easier and cheaper to work with you than to go after you.

Yours is a tricky question. Generally, a lender has only rights in the property granted in the mortgage. However, in some jurisdictions and in certain situations, a lender who is owed money can seek a judgment in court to recover money owed. That separate judicial proceeding is outside of the foreclosure proceeding and is generally in a lower court. Lenders may take advantage of that availability to recover deficiencies resulting from decreasing property values affecting foreclosure sales. You should seek the advice of an attorney in your area.

Bank of America Home Loan Services

If the bank is about to foreclose on your property, you may be able to make a deal with them. Instead, of have them having to hire a lawyer and pay him several hundred dollars an hour and go to court and pay court costs and have the sheriff sell your property on the court house steps, you will simply sign a quit claim deed. You will sell the bank your property for $10. You will not have a foreclosure on your record. The bank will not have to pay a lawyer and court costs. You will have a tremendous loss on your property and not give the bank a gift so the IRS can not claim you gave the bank a valuable piece of property. You move out without having the cops throw your property out on the street. You do not have any record of having a foreclosure on your credit record. There is no indication on any credit record that you are a deadbeat and did not pay your bills.