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Can a house be foreclosed on if there is no mortgage?
Absolutely. Mortgage defaults are not the only trigger for a foreclosure. Even though the outstanding debt or mortgage has been paid off, taxes are levied against the property yearly. Delinquent property taxes may trigger the tax title foreclosure process. In addition, Homeowners Associations can initiate foreclosure in the attempt to collect overdue fees. The federal government may also initiate the foreclosure process to collect taxes owed to Uncle Sam. There may be other instances, but for the most part, these are the most common.
If a mortgage payment is forty five days late will they foreclose?
State laws vary on the foreclosure process. Depending on the state the home is in determines if the 45 day mark for unpaid mortgage payments starts the foreclosure process. The mortgage company also determines the foreclosure process. Most mortgage companies offer solutions for repayment options.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
How do you stall foreclosure?
You can stall a foreclosure. If you negotiate with the lender for a short sale, the lender may hold back on the foreclosure process to allow you to complete the short sale. You can also challenge the foreclosure process in court. If there are any irregularities in the foreclosure process initiated by the lender, the court can stall the foreclosure. You should ask the lender to produce the original note. Often the lender initiating the foreclosure is not the original lender. Most lenders sell the mortgage to other lenders and institutions. It is the subsequent lender who generally initiates the foreclosure. Often the subsequent lender may have problems producing the original note. Sometimes it can take months to produce the original note. Filing for bankruptcy also stalls the foreclosure. Negotiations with the lender can also buy you time. For an official opinion, it is advised you seek legal counsel.
What happens in foreclosure if you have filed bankruptcy?
In most cases, foreclosure action is suspended until the BK is ruled upon either by discharge or dismissal. The mortgage holder may request a stay from BK proceedings, if it is granted the foreclosure process as defined by the laws of the state in which the residence is located will continue.
Can a house be foreclosed on if there is no mortgage?
Absolutely. Mortgage defaults are not the only trigger for a foreclosure. Even though the outstanding debt or mortgage has been paid off, taxes are levied against the property yearly. Delinquent property taxes may trigger the tax title foreclosure process. In addition, Homeowners Associations can initiate foreclosure in the attempt to collect overdue fees. The federal government may also initiate the foreclosure process to collect taxes owed to Uncle Sam. There may be other instances, but for the most part, these are the most common.
How do you stop or postpone foreclosure?
There are several ways to stop foreclosure. Following are the most common ways: 1- Apply for a home loan modification 2- Sell your home using the short sale process 3- File Bankruptcy 4- File an emergency bankruptcy 5- Hire a company to legally stop and postopne the foreclosure sale by challenging the trustee about the legitimacy of the foreclosure process. Ulitmately, always seek the advice of an attorney, credit, and tax professional before you decide what avenue to take to avoid foreclosure.
What is Californias most known food?
grapes
If a mortgage payment is forty five days late will they foreclose?
State laws vary on the foreclosure process. Depending on the state the home is in determines if the 45 day mark for unpaid mortgage payments starts the foreclosure process. The mortgage company also determines the foreclosure process. Most mortgage companies offer solutions for repayment options.
Is foreclosure a legal process?
Forclosure is a legal process that occurs when a person defaults on a loan. The producer of the loan has the right to foreclose, or take possession of the collateral guaranteeing the loan. The most common type of loans foreclosures involved automobiles and real estate.
What to do when you hold a second mortgage and the people have not paid in 4 months?
Absolutely start the foreclosure process. If the first mortage is also in default, then you run the risk that they start foreclosure before you. If that happens there is a good possibility that your mortgage will be wiped out. The only way to avoid this, in most states, is to purchase the house at foreclosure. For most private mortgage holders this is not a realistic alternative. Typically foreclosure can take several months. By delaying further you insure that your losses will be compounded. Keep in mind that you can always stop the foreclosure process.
What is the most common financial problem in the US?
Researching has shown that there are a range of things that are considered to be common financial problems in the US. These most common problems are unemployment, overspending, debt, and foreclosure.
Does a chapter 13 bankruptcy filing stall foreclosure?
Yes. It is the most common reason for filing a chapter 13.
How do you stall foreclosure?
You can stall a foreclosure. If you negotiate with the lender for a short sale, the lender may hold back on the foreclosure process to allow you to complete the short sale. You can also challenge the foreclosure process in court. If there are any irregularities in the foreclosure process initiated by the lender, the court can stall the foreclosure. You should ask the lender to produce the original note. Often the lender initiating the foreclosure is not the original lender. Most lenders sell the mortgage to other lenders and institutions. It is the subsequent lender who generally initiates the foreclosure. Often the subsequent lender may have problems producing the original note. Sometimes it can take months to produce the original note. Filing for bankruptcy also stalls the foreclosure. Negotiations with the lender can also buy you time. For an official opinion, it is advised you seek legal counsel.
What effect did the California Gold Rush have on the Mexican californias?
they lost most of their land
What effect did the California Gold Rush have on Mexican Californias?
they lost most of their land
What happens in foreclosure if you have filed bankruptcy?
In most cases, foreclosure action is suspended until the BK is ruled upon either by discharge or dismissal. The mortgage holder may request a stay from BK proceedings, if it is granted the foreclosure process as defined by the laws of the state in which the residence is located will continue.
