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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 you legally remove anything from your house in a foreclosure?
Yes, the lender is foreclosing on the property, not the contents.
The exception is, any items, furnishings, drapes, blinds, appliances (dishwasher, garbage disposal, etc.) etc. that were installed in the home at the time of purchase.
Will foreclosure hit credit report after it was discharged at chapter 7 bankruptcy?
Yes, it will show as included in bankruptcy and also foreclosure. You get a double whammy. Sorry probably not what you wanted to hear.
What are other options besides foreclosure?
# Save up money to get current. # Establish a repayment plan or forbearance agreement with the current mortgage company. # Modify the terms of the existing loan through a mortgage modification, agreed upon between homeowners and lender. # Refinance through a traditional or hard money lender and obtain a foreclosure bailout loan, if there is enough equity to qualify. # For FHA loans, obtain a partial claim to get current. This will result in a lien being placed on the property for the amount of arrears, but reinstates the mortgage. # Sell to a private investor or friend/family member who will allow the homeowners to continue living in the property. # File bankruptcy and include the house (Chapter 13), and keep up with the court-ordered repayment plan. # Sell the property for less than what is owed through a short sale. Tax liabilities may be a result of this option. # Sell the property outright for as much as possible, paying off the loan in full. # Offer the bank the deed to the house to avoid going through with the entire process with a deed in lieu of foreclosure. # Just move out, abandon the house, and begin the process of becoming financially stable after foreclosure.
What if the bank sells the house for more than you owe on the foreclosure?
If the bank sells the house for more than you owe. First, if you owe any other mortgages they will get paid first. after all of the liens of your property have been paid, the borrower(you) receives the rest.
example you owe 100,000 on mortgage 20,000 on equity line
the house sells for 150,000
mortgage and equity line get paid off. and you receive the difference of 30,000 dollars
You are in foreclosure how long will filing a Chapter 7 bankruptcy delay the sale?
Sounds like you are considering going from the frying pan into the fire. If you are considering bankrupcy, more than paying your mortgage is out of sync. Perhaps you should take the foreclosure, move to somewhere cheaper/smaller, take the bus or drive a $4,000 car and otherwise totally reduce expenses until you are out of the woods. The MSN money site has good information and there is lots of advice online as to how to improve matters by living more simply. Then, when you start over with buying housing look for something more in line with 2.5% times your income, with a downpayment to bring it down to that, you will be much better off.
The executor of the estate can sell the house at any time. The renunciation really deals with who gets the money from the sale. The executor can also transfer the house to someones name, but they have to insure all the debts are paid. Consult an attorney in your area for details.
Where can you find free foreclosure information?
Depends on how free and distinguishing between preforeclosure and foreclosure information.
Preforclosure = Before going to auction
Foreclosure = After going to auction and returned to lender (bank, also called REO I think)
Preforeclosure (trustee sale notices) can be found the in local newspaper in the legal section. Most websites only show addresses and hide details unless you pay a fee.
you should be able to get the listings in your countys court rooms or ask some one who works for the county
Sometimes it is more practical if you purchase a house under contract for it can soon be yours while renting it. This is also known as rent to own houses.
Will a foreclosure increase interest rate percentages on credit cards with existing balances?
No, there is very little danger in this occurring. Missing payments on credit cards is the cause of increases in signature loan interest rates and reduced card capacity (which frequently happens in foreclosure situations).
Most credit cards now have clauses that indicate a default in any other debt can lead to an increase in the interest rate of that particular card, however, this happens with other credit card defaults far more often than mortgage loan defaults. There is no incentive for credit card companies to make a mortgage payment default situation that much worse. This would cause a consumer's tight financial situation to spiral quickly out of control, and the likelihood of their getting any money would fall dramatically. The converse is also true for the mortgage loan.
Be real: Compare being homeless or crowded renting to defaulting on credit card(s) and enduring higher credit card interest rates. Unless the mortgage/home value is extremely inverted, it is more important to pay the mortgage on time, rather than worry excessivly about defaulting on credit cards.
Does aftershave have a use by date?
depends on brand, but if it contains alcohol it would loose potency rather quickly due to the evaporation of the alcohol
If you do a deed in lieu what happens to the tenants living in the property?
Just like in a sale, the tennancy (Lease) continues to run it's course. Only the owner (presumably, landlord) changes. (The lease "runs with the property"). The lender accepting the Deed in Lieu takes it subject to the existing lease, which (reading the agreement you'll make), you must tell them about. be prepared to have them insist you get signed documents from the tennent saying what if any deposits he has and status of rent, etc. They may be happy it comes with a tennent, or they may want to buy him out. More likely, a bank would be happy to take the proeprty with a tennent - who pays the rent - and have the cash flow.
How does a judgment for rented apartment work?
Totally different if it is a judgement for you or against you. One you owe, the other you have to find some way to collect. Please clarify your position.
Can Tenancy By The Entirety protect a home in Louisiana?
No. TBE does not apply in Louisiana as the state is a community property state.
Should you cling on to hope or walk away?
Okay, basically everything was going really well. Through the things that were said between us, I came to believe that she might be the one, (she told me as much). But, about three weeks ago she suddenly changed. At first she was quite honest with me, and told me that she was going to have counselling to deal with some personal issues she was having. She assured me that it had nothing to do with our relationship. It was just confidence/self-esteem issues that she needed to address.
Fine, I thought. Not a problem because I would support her in anything she wanted to do.
But then all of a sudden, I was asked to give her some time and space. Again, I had no problem with this at all, but I did start to worry that maybe there was something wrong with us. The last time I saw her, (two weeks ago), she was in a really bad mood and did not make any effort to talk to me. I tried to see if I could help, but she just wanted to be left on her own. Still, while I did not know what to think, I was going to give her all the time and space she needed.
Well, I would have done, but it proved difficult for me. You see, I am not a very confident person and I started to worry too much about it. What made it worse was I tried to call her, just to see how she was doing. I did not think there was any harm in that, but she was really angry with me on the phone and to put it bluntly, quite nasty. So that just made things worse for me. I found it hard to accept that despite her needing space to sort out her problems, could she not just have told me how she was? Amazingly, when I told her I was worried about her, she said I shouldn't be because she can look after herself.
Well, nothing much has changed. She still has not rang or called to say how she is doing. I don't even know if she even wants to know how I am. It's frustrating because, on the few occassions when I gave into my urges to text her, she would either ignore me and come back with something really cold. Okay, you can have your space, but does she have to be so mean about it?
So now, to my question. I am left wondering what I should do. On the one hand, do I cling to the thin thread of hope that she will call me soon and we can get on with out lives? I've since convinced myself that she does not want me anymore. She knows that this situation is really difficult for me, but she does not seem to want to say just a few words to put my mind at ease. I think that, if she wanted our relationship to continue, could she not give me something to go on? I don't mind waiting for her and giving her space, but not knowing what is going on is really hurting me. I even asked if she was dropping a hint by ignoring me but, surprise, she did not answer. She won't tell me it's going to be okay. But she also won't tell me it is over.
On the other hand, maybe I need to realise that this relationship is going to finish. Is it obvious and I'm just living in denial? If it is, then maybe I should just walk away. It's really upsetting to think about doing that, but I cannot seem to think about anything else right now other than how bad I feel.
So, if anyone can offer any advice, I would really appreciate it. To conclude, do I continue to feel bad each day that passes, but hope she might call me, or should I just accept that this one is over and walk away. After all the promises that were made and the things that were said, that is going to be hard to do, because it will break my heart, but maybe that's what I need to do. I would not mind as much if I had done something wrong, but I feel that I always did right by her. It's strange that when you love someone and treat them the best you can, you are rewarded by being thrown into the dark with no answers.
Okay, thanks for listening. A.
IN A SIMILAR SITUATION
Hey I'm in a similar situation myself. My GF of 3.5 years decided to that she didn't want to go with me anymore on a whim. However there hasn't been any talk of having space and such. As for your question I would ask that do you really want to handle all of the baggage? It sounds like she has a lot of problems that she has to get through before she is ready for any relationship. Right now I would let her be. You can hope for her to come back to you but I wouldn't expect it from what you are saying. Overall I don't think you have hounded her if you have tried to text her once or twice (I know guys want to hit things head on but girls are annoyed really easily) but apparently she is seeing this as you harassing her.
Again you can hope but don't expect it until she shows she is commited.
Exact Same As My Situation - I have no idea how to handle it.I'm in the exact same situation, except the roles are reversed. my boyfriend of two years (on and off) were doing really well, like we'd both broken through a bunch of walls that caused us a lot of problems in the past, but then he went through a ton of family/life problems and he just kind of holed up on me. said he needed time and space and i was really supportive of it for the most part, i love him to much to see him suffer, so i figured if he thinks he can work things out better on is own then i'd let him be. its been almost the whole summer and we still barely talk. I'm losing my bearings and while at first i was certain it didnt have anything to do with our relationship, I'm not so sure anymore.i just don't know whether to keep giving him his space, or try and talk to him and just ask straight up if he still loves me, cause i don't know anymore. :/
According to answer.yahoo.com, "Once the new guy owns it you will be served an eviction notice that says you have three days to get out. If you ignore that (and if the new owner obeys the law) the new owner would need to go to the local Justice of Peace court and file for eviction. You will get a notice to appear. If you appear or if you don't you will lose because you have no right to be there anymore so you will get another notice- this time form the JP court. If you ignore that then a constable will show up to set your things out by the curb."
If both persons were sued and a judgment awarded but only the husband filed bankruptcy and included the debt; the judgment can still be executed against any non-exempt property belonging to the wife and perhaps jointly owned property as well. The legal presumption is that the debt is still owed because it was jointly incurred.
What type of trouble can you get into for removing a foreclosure sign from in front of your house?
In the majority of states, the lender must request permission from the court to place a a lawn foreclosure sign on the property. If the sign was placed with the permission of the court, it is considered 'ordered by the court'. Although it might be somewhat embarrassing for the persons living in the residence removal would not be recommended. Consulting an attorney about state laws regarding the issue before taking action would be advisable.
Why was Nykesha Sales' basket allowed?
Nykesha needed only one point to set UConn's career scoring record when she ruptured her Achilles tendon, ending her senior season prematurely. Her coach and Villanova's coach agreed on a plan to allow her to break the record. She hobbled onto the court with help, and after tip-off, the ball was passed to her under the basket so she could score. Villanova then inbounded and got a free basket, tying the game. Sales then sat down, and the game continued. Some people think this was a mockery of sports, while others feel that it was an act of good sportsmanship, since she would have shattered the record if she hadn't been injured.
What is the next step after the automatic stay is lifted?
An automatic stay stops creditors from proceeding against you, either garnishing wages or siezing property. I think after the automatic stay is lifted, the creditor requesting that the stay is lifted, can proceed against you for the item they want back.
Once the stay is lifted [granted] by the Bankruptcy Court, the creditor is free to take whatever action is appropriate to recover and sell the property. If the debtor is granted a discharge in bankruptcy, the debtor will not be required to pay to the creditor any deficiency amount that results if the sale of the collateral does not generate enough money to pay the debt in full.
Further it also depends on how you respond after lifting of stay, if you do not make any payment, creditor may continue with his course of action. It is always better filing proper reply to the motion to lift the automatic stay.An experienced Attorney would assist you in all these aspects.
What should you do if you do not hear back after sending your resume?
Resume Edge, a consulting group that rewrites resumes and letters for job hunters, recommends that you send a follow-up note about three weeks after submitting a resume. See the link to the right for their "how to write a follow-up" advice and a sample.
Does Arizona have a deficiency judgment law for repossessed vehicles?
http://www.azleg.state.az.us/FormatDocument.asp?inDoc=/ars/12/00548.htm&Title=12&DocType=ARS 12-548
An action for debt where indebtedness is evidenced by or founded upon a contract in writing executed within the state shall be commenced and prosecuted within six years after the cause of action accrues, and not afterward.
What is the redemption period for Ohio?
The redemption period in Ohio is the time after the sale of the home and before it can get confirmed by the courts. The time will not exceed 30 days and any owing money must be paid before a property can be redeemed.
How long does a deed in lieu of forclosure stay on your credit report?
The amount of time that a deed in lieu of foreclosure stays on your credit report depends on the state. The minimum amount of time is seven years. In some states they stay on indefinitely.
What happens after foreclosure?
After Foreclosure, One should find a decent, affordable place to live and to start rebuilding credit.The best way to plan the next step, is to learn as much as he can about the rental and home buying options after foreclosure.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
