 House size and area? |
| If you had a choice... would you buy a big house in a crap area, or a teeny house in a good area? We got schools to consider too...... |
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 I have an adjust. mortgage at 3.875 which is scheduled to go to 5.875 in Sept. Should I get a fixed rate now? |
| I'm wondering if I should ride out the next year at 5.875 and gamble that rates will come down the next time my mortgage adjusts in another year. Just wondering what you think rates will go to?... |
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 Why does my lender want to see my entire bank statement for the last 2 months? |
| Is it not enough to just show the cover page of the statement that shows the opening amount and the closing balance? Why would they ask for the entire statement the shows all transactions in the ... |
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| Should I refinance my 7/1 ARM 2 years early? |
| I have great credit and 40% equity in my home. I took out a 7/1 ARM 5 years ago and have 2 years left. I got a good faith estimate from a couple lenders and found I can refinance and my current ... |
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 Which renters should I choose? |
| Here are the situations. I have a 2 br and 2 bath condo apt. I won't be moving in right away and will sublet it for 6 month or longer or shorter depending on my current situation which I would ... |
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 How many skipped mortgage payments before the bank can begin foreclosure? |
| Lost job in the begining of May. Paid May mortgage payment, but only a fraction of June's. It is now July 21. Can the bank foreclose already? I just sent $600 but still owe $1,000 of June's ... |
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| Can my landlord refuse to let me take in a flatmate? |
| I'm thinking of taking in a flatmate or lodger to help me pay the rent. I will have to ask my landlord for permission. Do they really have the right to refuse? I have a 3 bedroom house and its ... |
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 I'm Buying my first home and I have a question about.....?? |
| Our closing date is set for the end of June this year, but I want to know if typically the owners of the house will let you do any work prior to closing. They have already moved out, and we want to ... |
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 What do I do when bank start to forclosure my house? |
Additional Details
I m not able to keep the house so I have to let it go. Please let me know what to when the eviction paper is on my door.
Thank you so ... |
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 My mom is selling her house and has received an offer and she has signed the purchase agreement recently.? |
| She has agreed in the agreement to close no later than 8/1 and to close within a week when their bank say it is ready. But, she heard from her real estate agent that they want to close in the ... |
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 Viewed a new rental property today and the estate agent said? |
| if you rent an unfurnished property the council tax will be less than a furnished one. is this correct. or are they lying to try and get us to sign the contract?... |
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 Do we legally have to pay rent while living with parents? |
| I am 21 and finish uni next month. I'm living with parents in a council house, parents are on housing benefit and dont pay rent. Legally, would i be required to pay rent after completing full ... |
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 Homes in Foreclosure!? |
| What are the requirements and steps taken in order to buy a foreclosed home? Has anyone done it and been sucessful? It's it worth it to try and buy a foreclosure as a young couple? Are there ... |
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 Is a cosigner frowned upon for a mortgage? |
Last time I looked at my credit score it was in the mid-high 500's. Both my parents and inlaws have offered to cosign for a home loan and both have stellar credit.
A friend who used ... |
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 What is the procedure for a landlord to evict someone from their apartment? |
| I am wondering if the laws differ in every state? Also, how long does one have to come up with the rent before an eviction notice is served? I don't have 2 nickels to rub together and the new ... |
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Thesnake | If I default on a mortgage what happens? |
Will the mortgage company sue me for the difference between what I owe and what it is sold for if I default? Also, will there be a lot of difference between a default and being several payments behind? |
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iroc
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you lose your house |
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CEESONE
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Chuck Norris will scissor kick in the back of the head and take your house! |
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dragonfly_3
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They can, but usually if you can't pay your mortgage, they aren't going to get a default judgment out of you, so...
Negotiate for a "short sale" which means they take your house for the balance owed on the home. This is usually the fastest thing for everyone, but if you don't have any equity or the housing market dropped in your area, they might not go for it. Talk to the lender-- it is always better to try and negotiate and let them know what is going on with you financially than it is to try and hide. |
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Bestbank Real Estate
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If you don't pay they will foreclose on you. They must sell the house at least 66% of the market value. If you owed more than 66% including, attorney fees, sheriff fees, advertising fees, late fees and any other fee's they can think of, then they can come after you for that. The best thing you can do is try and do a " deed in lue of foreclosure" unless you are in Louisiana and its called a "Dation En Paiement". Your bank will have all the required forms for this. It will save them money on attorney fees and the sheriff sale. The faster you request it the better your chances are of getting it. It would not hurt to have an attorney for you look over the papers before you sign. If you have the ability now to pay you can also try for a deferment plan or even worst case a BK Chapter 13. The 13 will destroy your credit but save your home if you never miss another payment.
Good luck,
Michael Vogt |
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keenane
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bank will repo your house since they own it |
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tonalc1
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The bank, which owns your house, will take possession. |
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kevin m
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im sure you can work out a deal with your mortgage company to pay those missed payments overtime.like lets say you owee 3000 in back payments they can put you on a plan to repay that along with your current payments.you may get a 10 month plan which would add 300 to your regular payment a month for those 10 months |
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kny390
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The mortgage company will take your house and sell it for whatever they can get for it. They will take the amount owed, plus pentalties and late fees. If there is anything left they will send it to you, if you still owe they can still go after you. |
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Plain Jane
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Usually a lender will wait until you miss the second payment. Then they send you a notice that they are going to start to foreclose and make demand for the rears plus penalties in order to stop any further action. If not paid to date, they will send someone to the property to post a Notice on the house of their intention to foreclose. Then there will come a time when they will have to run a Notice of Trustees Sale in your local News Paper. This lets the world know that you (your name) are in default on the subject property. The address and legal description will also appear in the Notice along with all the recorded information. The Notice will also state that the house will be sold to the highest bidder on such and such date and where the auction will be held. I am not sure if they will state a starting bid.
A foreclosure usually takes three to six months to complete. If the foreclosure is completed they will send the occupant a Notice to vacate the premises within 30 days. If not vacated by the specified time they will bring a Police Officer to remove the occupant.
Lenders really don't want to foreclose and the sooner you contact them to try to work something out the better, that is if you desire to figure a way to work something out.
If you feel your in over your head you could contact the lender to see about just signing a Deed over to them in Lieu of a Foreclosure. |
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