Sentences with phrase «in a foreclosure sale»

There can be income tax consequences and personal liability on certain kinds of mortgages if you lose your property in a foreclosure sale.

If you want your case to go before a judge before the home is sold in a foreclosure sale you will have to hire an attorney and take your lender to court.

This is because a deficiency is common in a foreclosure sale, and the lender did not give «approval» as they would have done in a short sale.

As sometimes also happens in a foreclosure sale, the lender may hold the property owner responsible for paying any deficiency in the sale price.

• Less than 2 percent of the loans secured by owner - occupied homes and serviced by Wells Fargo resulted in a foreclosure sale in the last 12 months.

For instance, if a property is given a value that is higher than its true value and consequently over financed, a subsequent foreclosure on the mortgage could result in a foreclosure sale price substantially less than the mortgage balance.

Amira Jackmon, the named plaintiff in this law suit, ended up losing her home in a foreclosure sale instituted by Wells Fargo.

Here are the metro areas that offered some of the largest discounts in foreclosure sales in the third quarter of 2011:

The recent increase in foreclosure sales follows an 18 - month decline in the sales, according to RealtyTrac.

All told, 224,429 homes in the foreclosure sales category were bought in the second quarter, down 12 % vs. the first quarter and 22 % vs. a year ago, RealtyTrac said.

Once the foreclosure judgment is entered, the clock starts ticking on the redemption period, a 6 - 12 month period during which you are allowed to stay in the house before the sheriff can sell the place in a foreclosure sale.

Rival mortgage clearing house Freddie Mac indicated that it is going after walk - away borrowers in court to collect deficiencies (the difference between what a borrower owes and what the lender gets in a foreclosure sale).

This Cash FIREhose is a more risky investment, because if the real estate market turns south, these investors may be unable to pay these loans, and property values could fall to a point where it is not possible to recover all of the principal in a foreclosure sale.

Those price declines are being offset by a pickup in foreclosure sales, which take underwater homes off the market, said Sam Khater, an economist with research firm CoreLogic of Santa Ana, Calif., which released the data Tuesday.

Prevailed in defending against multiple claims of successor liability after client acquired assets of a distressed company in a foreclosure sale.

The last section under real estate law is land use controls, zoning and master plans, building codes and regulations, new home warranties, manufactured dwellings, private controls, common interest ownership, issues with deeds acquired in foreclosure sales, regulation of special land types, and the regulation of environmental hazards.

The Hope Now report revealed a large annual decrease in foreclosure sales, which fell from 485,000 in the first seven months of 2012 to 378,000 during the same period this year.

Buck, who herself has specialized in foreclosure sales in recent years, has long advocated a shift away from policies that continue to damage minority neighborhoods and make them unsafe for families.

• Las Vegas, Phoenix, Riverside, and Sacramento show rapid declines in foreclosure sales in the last 12 months.

«Although less than 2 percent of homeowner - occupied loans in our servicing portfolio have resulted in foreclosure sale over the past year, we understand that some of our customers are going through difficult times during this economic recovery,» says Marie Day, Wells Fargo Home Mortgage regional servicing director.

There can be income tax consequences and personal liability on certain kinds of mortgages if you lsoe your property in a foreclosure sale.

It was formerly known as the Mondrian SoHo, which was sold in a foreclosure sale in June of last year.

• Judicial foreclosures are generally associated with the largest price discount in foreclosure sales: New York (30 percent), Boston (32 percent), and Philadelphia (32.8 percent).

For the second month in a row, the four - county Metro Orlando area experienced an increase in foreclosure sales.

The second - mortgage lender sold the property to a family trust (the «Buyer») in a foreclosure sale in August 2009.

In foreclosure sales properties seldom go for market value.

In a foreclosure sale, the bank will either conduct a private sale or go to the court and do a judicial foreclosure, without your involvement.

In foreclosure sales, you need to be aware of the protections that a 2009 federal law provides to renters.

What happens now, in Florida and across the nation, is that anyone who negotiates their underwater home in a short sale, or who has their home sold in a foreclosure sale, will face not only the loss of their home but the reality of possibly paying taxes on the balance left on that mortgage.

When you lost your home two years ago, your line of credit, which is really a second mortgage, was not paid off because there was not enough value in your property to cover it in the foreclosure sale.

In a foreclosure sale, any potential buyer can attend court on the date set for the approval of the sale and submit an offer to purchase the property.