Sentences with phrase «at a foreclosure sale»

Q: I am curious about purchasing property at foreclosure sale.

The property can not be sold at foreclosure sale for less than two - thirds of the appraised fair market value.

Sometimes, too, condo units are bought at foreclosure sales by people under the age of 55 years.

Power of sale allows your lender to appoint a trustee to sell your home at a foreclosure sale.

In about half the states, the first mortgage can not come after you for the rest of the money — but in those states you have debt forgiveness income at the foreclosure sale.

They also get a deficiency judgment against the borrower for the difference between the loan balance plus costs and interest and what the lender got for the property at the foreclosure sale.

One reason there are few bidders at foreclosure sales is that it is next to impossible to get financing for such a property.

Then he also sold it at a third title company ten days later for — I don't remember the number, but he took a $ 45,000 down payment... And I found out later he had partners at the foreclosure sale where he bought the property for $ 100,000, so he took like half a million dollars from people on a property that he had a net of $ 100,000 in.

Regardless of your state's deficiency laws, if your home will sell at a foreclosure sale for more than what you owe, you will not be obligated to pay anything to your lender after foreclosure.

In a foreclosure that takes place outside the context of a surrender, the borrower can end up owing the difference between the mortgage amount and the sale price the home fetches at the foreclosure sale.

One day, the family's home where Alicia raised her children, was sold at a foreclosure sale while she was in the hospital.

If obtained at foreclosure sale, usually that indicates there either weren't any bidders or there wasn't a sufficient bid made that satisfied the bank or lien holder.

As opposed to buying directly at a foreclosure sale, one advantage for an investor buying an REO is that you can get inside the property.

Proper due diligence is mandatory, prior to bidding at a foreclosure sale or sheriff's sale auction.

Bidding on a property at a foreclosure sale usually requires an all cash bid, by cashiers check which must be paid in full at the end of the auction.

Given the large number of foreclosures that have taken place in Ohio, post judgment attacks gave concern to those who purchased properties at foreclosure sales, as well as title insurers who issued policies for those sales.

Add to the foreclosure expense the cost of maintaining and selling homes that are not bought at foreclosure sales or auctions, and mortgage lenders are losing money that could be saved by writing down mortgage loans to affordable levels and preventing foreclosure.

If the lender itself is the high bidder at the foreclosure sale and has a winning bid that's below the «true value» of the property, the lender can't pursue the full amount.

Mimicking the federal Protecting Tenants in Foreclosure Act, a 90 - day notice for properties sold at a foreclosure sale must be sent to any tenant telling them of a change in ownership to the property.

These decisions will hang over the Florida home owner's head for months and months — if not years and years — but the thing that most Florida home owners may not realize is the minute that lose their home at a foreclosure sale (and, in some instances, after a short sale), they will be facing loan collection efforts.

Even in impoverished Brooklyn enclaves like East New York and Brownsville, which the mayor has targeted for revitalization, Ms. Speliotis reported that long absentee landlords are turning up at foreclosure sales and paying off the balance of their debts in hopes of capitalizing on the tracts in the near future.

From time to time, as a Colorado Springs Bankruptcy Attorney, I'll get a call from a desperate potential client whose house is about to be sold at a foreclosure sale, or whose car is about to be repossessed.

A unit owner, regardless of how his or her title has been acquired, including by purchase at a foreclosure sale or by deed in lieu of foreclosure, is liable for all assessments which come due while he or she is the unit owner.

And sometimes purchasing REOs is a much different process for investors who are used to buying retail or at a foreclosure sale.

First and foremost, the term REO (or Real Estate Owned) usually refers to an asset that a bank or lien holder obtains either through a deed in lieu foreclosure process or at a foreclosure sale.

@Sean Carroll I have bought to my recollection two property at foreclosure sales.

The Broker also serves as the president of eCounty Foreclosures, Inc. («eCounty»), an entity used to purchase properties at foreclosure sales.

This is where the trustee comes into play: The trustee is usually responsible for selling the property at a foreclosure sale.

I understand that this bill will prohibit banks (sellers who acquired title to residential real property at a foreclosure sale) from requiring the buyer to purchase title insurance or use escrow services chosen by the seller / bank.