 Mortgage or Home Equity Loan? |
| My maternal granparents just moved out of a house that belongs to my dad. He is now going to give us the house. We have about $60,000 we want to spend on paying off some bills and remodeling the ... |
|
 Mortgage held by Mom. Mom dies. House deed in mom's name and mine. Who owes on remainder of mortgage? |
| The deed is in two names but the mortgage was only in the deceased's name. Who does the bank go after to repay the reminder of the debt. Does the debt go away? What if the deceased was poor ... |
|
 By law, what can a landlord charge for a pet security deposit? |
| Is there a max? I live in RI. I can't find any information on this. I have even talked to a lawyer in this area who can't quite seem to find a definite answer. Thanks.... |
|
 What to do about home offer not responded to? |
Here is my problem:
I put an offer in on a home last week Wednesday (August.29,2007), Finally on Friday, August.31,2007 the listing agent faxed a letter to my agaent stating that the home ... |
|
 Charges for carpet after walkthru was completed and signed off.? |
| There was some damage in the bath and it was noted in my move out. She said she was going to get her carpet guy to quote it for repair. (I had the carpets cleaned the day before my final walkthru). N... |
|
 Loan or remortgage? |
My current mortgage deal is about to run out so I'm looking for a new deal to sign up to (for a freehold house in England).
However, at the same time I need to raise a whole bunch of ... |
|
 Isn't having an interest-only mortgage just like renting? |
I mean, you're not gaining equity unless the value of the home is rising extremely rapidly (which is uncommon these days…)
What long-term benefits come from an interest-only loan?
A... |
|
 Home inspections? |
| We are buying a new home. Is it necessary to have it inspected by Home inspectors?... |
|
 Does a landlord have the right to disclose to a stranger that i am a tenant without my o.k.? |
| a stranger entered the rental office to the apartment complex i live in. he was attempting to serve me with a summons to appear in court, but didn't have the precise unit in which i live. by ... |
|
 Apartment expenses need help? |
| what are a list of monthly expenses people can think of? I want to have an idea of all my monthly bills. the apartment Im looking at is broadmoor at chelsea apt. in wichita ks and its 375 for a one ... |
|
 If I make $2200/month, how much should i be spending on rent and utilities? |
I was thinking around $700 for everything combined? Too much?
I have no debt, but a $200 car ... |
|
| How do you sneak a cat by a landlord? |
| i don't want to pay hte $150 non refund and $150 refund and $15 a month for my cat. the way apartment complexes charge tenants is highway robbery if you ask me! i've had my cat for 1 1/2 ... |
|
 Why don't we hear of squatters anymore? |
| In the 70/80's if there was a house emtpy for a certain amount of time, the house would be filled with sqatters, why not now?... |
|
 What is the best way to confront my landlord about a maintenance man suspected of stealing from my apartment.? |
| i was not home at the time and i gave the maintenance man permission to enter without me being there. When i returned home later that night i noticed my psp game system was missing, i always keep it ... |
|
|  |
muggs | Home Foreclosure? |
My house is being foreclosed on. Will I still owe money?
Can I sell the house. |
 |
 
foreclosurefish_com
 |
You may still owe money after the foreclosure auction, but three things would have to occur.
First, the property would have to sell for less than what you owed the bank at the time of the sheriff sale.
Second, the state foreclosure laws would have to allow for a deficiency judgment.
Third, the bank would have to sue you again after the foreclosure for a deficiency judgment. Banks hardly ever do this. They just spent months suing you for foreclosure, and they probably didn't get a single penny out of it. So, why would they want to sue you again for another judgment that they'll never collect on? They'll have to hire attorneys again and pursue the legal process, and you didn't pay the foreclosure judgment, so there's little reason to expect you to pay the deficiency judgment.
The bank will most likely just move on, rather than waste more time in the courts.
And yes, you can sell the house or refinance or work out a repayment plan or find any other solution as long as you are still the owner. So, anything you come up with before the house is auctioned off, you can pursue as an option to avoid foreclosure.
Good luck.
ForeclosureFish |
|
Auntie Mame
|
You may sell the home yourself anytime until the foreclosure completes. If the sale (yours or the bank's after foreclosure) nets less money than what you owed on the house, you'll owe the difference. If there is no chance that you'll ever be able to repay the bank MIGHT just write it off but it will show up on your credit report for years. |
|
SuperCactus
|
I assume you are behind with mortgage payments and the lender has notified you that they have begun the foreclosure process to take the home from you. You still have full ownership of the home, but you have a limited number of days to try and find a buyer. Talk to a real estate investor in your are and see if they can arrange a short sale with your lender before the deadline.
If you do not bring the payments current, find a buyer or arrange a short sale the law requires the home be offered for sale at an open auction. If the bank does not get all of its money and expenses back... it could come after you for the difference. That don't often do that... but they can.
If your financial problems are temporary contact the bank and ask for help in working out your problem. Banks don't want more foreclosure homes now. They have thousands! |
|
Feeling Mutual
|
You can sell it.
If they repo it, they will sell it, if they don't get enough to pay the debt, you still owe that much.
If they get more, you get that money from them. |
|
Ron Berue
|
THE BEST advice I can offer:
Go to your local library do a "Lexis Nexis" search of the mortgage company/lender Get the names of the officers and their titles. If you go to your local library, its a matter of asking the reference librarian for some help.
OR do an on-line search of the mortgage company/lender. Find out the names of the folks who are officers in that corporatrion.
If you do it on-line, there is a charge.
DON'T e-mail or telephone. IF YOU CAN,make an appointment to go in and speak personally with "the powers that be" - someone who can say "Yes" or "No" to your situation.
If the mortgage company is too far away [more than 200 miles], call and speak with someone in that department who can help you. This requires persistence and tenacity.
In the beginning you might get a receptionist and one of the loan persons. You need a Vice President or someone with a higher title.
Thanks for asking your Q! I enjoyed answering it!
VTY,
Ron Berue
Yes, that is my real last name! |
|
jess
 |
like i keep telling you...you need to see a lawyer .................... as soon as you can or you will get ZERO |
|
NevadaHomes
 |
Hi muggs,
There might be something that you can do to save your home go to http://www.hopenow.com. HOPE NOW is a non profit cooperative effort between counselors, investors, and lenders to maximize outreach efforts to homeowners in distress.
They are non profit third party intermediary that will negotiate with your lender in your behalf to freeze your interest rate to its original rate. |
|
StockTrdr
 |
depending on where in the process things are you might be out of luck. I hate to do this but I suggest you try one of those "we buy houses" people. It is probably the only way to get out of this quickly! |
|
scokeman
 |
Yes you will still owe if when it goes to public sale it does not sell for the ammount owed. You can try to sell the house but you have to be in escrow before the final forecloser date. If you like the house you are in look into the federal home lone deals so that you can try to save and keep it. Good Luck |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
9 | 32 minutes(s) ago
| | | |
9 | 2 hour(s) ago
| | | |
9 | 4 hour(s) ago
| | | |
9 | 9 hour(s) ago
| | | |
9 | 2 day(s) ago
| | | |
9 | 5 day(s) ago
| | | |
9 | 2 week(s) ago
| | | |
9 | 3 week(s) ago
| | | |
8 | 1 month(s) ago
| | | |
9 | 5 month(s) ago
| |
|
Homepage 
Financial
Forum 
Renting & Real Estate 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
