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∙ 11y agoWiki User
∙ 11y agoYou are responsible for the property during the foreclosure process up until the property is sold or auctioned.
The title is in the name of the person who purchased it at the foreclosure sale. Once the foreclosure deed is recorded the debtor has no right whatsoever to occupy the property. The new owner has no relationship or obligations to the debtor. The person who has had their rights to the property foreclosed has had abundant notice of the foreclosure. They should make arrangements to move out prior to the sale and make arrangements to remove their personal property before the sale. Once that deed is recorded they are trespassing if they enter the property unless the new owner has made an arrangement with them, in writing.
Once it has been distributed, no.
No. At least, you are not usually not responsible for anything except getting out of your house in foreclosure in this state. Once your house is foreclosed, it ceases to be your house and belongs to someone else. You then become a guest in someone else's house. It is that persons responsibility to take care of the house.
Association assessments are paid by the owner of record. If your name remains on the deed, you owe assessments.In most cases, the homeowner or unit owner is responsible for paying the HOA fees prior to the foreclosure. Once the lender takes legal possession by foreclosure no further fees are added to the amount due but the HOA can pursue payment of the past due amount. In Florida, an HOA can go after a homeowner for past due fees even after the bank has foreclosed by using the process used for a 'deficiency judgment'.
No, it probably is not illegal. Once you have the notice of foreclosure, then you should make plans to move. Some companies move faster than others, but basically if you are not paying for the housing, you have no right to remain in the house.
For as long as the foreclosure process is going on, the original owners of the property will still have legal possession. This makes them responsible for maintaining the property, paying the real estate taxes, and keeping insurance paid up to date in case of damage or destruction. Since they still own the house, they must keep on top of all of the responsibilities of maintaining the property in good condition. Of course, it is especially important for homeowners to keep up on the maintenance if they are eventually successful in finding a solution to stop foreclosure. Letting a home fall into disrepair and then saving the home but having to clean up afterwards is not a good start to financial recovery. Even if it is just a second home or investment property, homes in foreclosure should be kept in as good of condition as possible. For homeowners who are unable to avoid losing the property, though, they will no longer be responsible for maintaining it when ownership is transferred through the foreclosure legal process. This typically happens once the sheriff sale has been conducted and the winning bid confirmed by the local court system. At this point, the foreclosure victims will no longer have title to the home, and it will be up to the new owner (usually the bank) to make sure the property is kept up.
A person doesn't "file for foreclosure". A bank or other lender takes possession of property by foreclosure procedure after the owner (mortgagor) of the property has defaulted on the mortgage. The procedure varies in different states. If the mortgagor dies during the foreclosure proceeding the lender can continue the foreclosure process against the estate. The death of the mortgagor may delay the proceedings until the heirs have been given notice of the foreclosure, depending on how far along the foreclosure has progressed. If the mortgagee (lender) dies during the foreclosure proceeding their estate representative can continue the foreclosure once appointed by the court.
Once this motion is recorded it should stop the foreclosure process. Actually, once the bankruptcy is filed, the foreclosure process should already be stopped.
in new york how long can you live in your house once foreclosure starts
The process and timeline for property tax foreclosure varies by location, but typically, property owners have a grace period of several months to years to pay delinquent property taxes before facing foreclosure. Once the property goes into foreclosure, the timeline for having to move out can vary but is usually anywhere from a few months to over a year, depending on the specific foreclosure laws in the area. It is important to consult with a local real estate attorney for precise information regarding your situation.
You typically have to move out of a foreclosed home after the foreclosure process is complete and the new owner takes possession. This timeline can vary depending on state laws and the specifics of the foreclosure process. It's important to be prepared to move promptly once the foreclosure is finalized.