At the discretion of the lender, a house can be foreclosed after a period of missing payments.
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
Yes, but contact your mortgage company and make the arrangements. Lenders always prefer making arrangements rather than going into foreclosure because they lose money on every house foreclosed on.
A foreclosed home can take seven years before it is taken off your credit report. You can build your credit back up in about three years if you continue to pay all your bills on time.
Debtors can go after the assets of the estate. These assets will have to be liquidated to settle the debts.
At the discretion of the lender, a house can be foreclosed after a period of missing payments.
Yes you can
Your husband's name is not on the deed, but is he on the loan? If yes, then it cannot be foreclosed and repossessed if the property is listed on his bankruptcy filing, and, as long as his bankruptcy payments are current. If he defaults on bankruptcy payments, then you can lose the property. If he is not on the loan, then your house can be foreclosed and repossessed.
When the bank foreclosed on the house, they took it back. Now it's time to move out.
I would think so. Though the bank should be using all means possible to get that cash from you to pay for your currently foreclosed house. Even if they don't, paying in full with cash for anything will always be accepted.
No, I can't
If both names are still on the loan, it effects both people.
The foreclosure will affect your credit record. You are fully responsible for paying the loan.
If you bought it yourself after you moved in, and before the house was siezed and sold.
The bank does not care who holds the mortgage. If the loan is not being paid, it can be foreclosed on.
Yes, but contact your mortgage company and make the arrangements. Lenders always prefer making arrangements rather than going into foreclosure because they lose money on every house foreclosed on.
Before buying a foreclosed property, one should have a rough estimate of how much they will pay for the house, by checking the prices of recently sold properties in the area. The buyer should also research the area, the house itself, to check for any problems, and should have the finance for the purchase ready before making an offer.