Sentences with phrase «properties during foreclosure»

When buying a property during a foreclosure sale, you usually must pay at least the loan balance plus any interest and other fees accumulated during the foreclosure process, such as attorney's fees.

Not exact matches

They have used money from Attorney General Eric Schneiderman's settlements with financial institutions to restore properties that were abandoned during the financial meltdown and foreclosure crisis.

State Attorney General Eric Schneiderman is urging the senate and assembly to pass legislation that would require banks to maintain properties if they're abandoned during foreclosure.

NEW YORK, NY — Attorney General Eric T. Schneiderman announced grant awards totaling $ 12.6 million to help 76 cities, towns, and villages across the state address the problem of vacant properties and so - called «zombie homes» — vacant and abandoned homes that are not maintained during a prolonged foreclosure proceeding.

But, we must remember that home prices collapsed during the housing crash, and distressed properties (foreclosures and short sales) kept home values depressed for years.

Depending on local law, mortgage lenders may be required to secure abandoned properties and abate nuisances and hazards that may occur during the foreclosure process.

During 2007, lenders began foreclosure proceedings on nearly 1.3 million properties, a 79 % increase over 2006.

During foreclosure, a lender takes legal steps to seize a property in which the payments haven't been made, meaning payment defaults.

Here is what HUD says: «Effective May 22, 2013, HUD allows mortgagees servicing HECM loans a 90 - day extension to take the first public legal action to initiate foreclosure as required by 24 CFR 206.125 (d), following expiration of the six month period during which the mortgagor or mortgagor's estate attempts to sell the property.»

If a homeowner can sell the property during this time, he or she may be able to avoid foreclosure proceedings, and its negative effect on their credit history and future prospects (see Getting a Mortgage After Bankruptcy and Foreclosure).

Property Manager II — Cohen Esrey Real Estate Services, Glen, Ellyn, Illinois 2005 — 2006 Assigned to properties in significant distress during foreclosures proceedings, and strategically designed individual programs focused on resident retention and increasing NOI with little to no capital budget increase.

During the foreclosure proceedings, someone stole the AC units from the vacant property and cut the copper lines where they went into the building, which caught some insulation on fire and burned down 3 of the units.

Metros with highest foreclosure totals More properties received a foreclosure filing in the Miami - Fort Lauderdale - Pompano Beach metro area during the first half of 2010 than any other metro area with a population of 200,000 or more.

A total of 94,466 properties in the Miami area received a foreclosure filing during the six - month period, a decrease of 8 % from the previous six months, but up nearly 11 % from the first six months of 2009.

Other factors that can influence a bank's decision include the liability risk it assumes by owning the property after foreclosures, the money tied up during the holding period for a foreclosure and REO resale, additional costs associated with an REO such as attorneys» fees, and the additional reserves it will need if REOs rise in the bank's portfolio.

Generally, the applicant's credit report is pulled during the reverse mortgage process for the underwriter to review for current adverse credit issues that may affect the property, such as an open bankruptcy or pending foreclosure; however, scores are not normally a considered factor in the credit decision.

The REO property did not find a buyer during foreclosure auction.

There are various stages of foreclosure and various types of entities that may be in possession of the property during the transaction.

-- Previous mortgage foreclosure: Borrowers are generally not eligible for a new FHA - insured mortgage if, during the previous three years, their previous principal residence or other real property was foreclosed, or they gave a deed - in - lieu of foreclosure.

Lenders completed the foreclosure process on 54,844 U.S. properties during the month, still down 18 percent from May 2011.

Newport Beach had fewer distressed properties and foreclosures than other areas of Orange County during the housing slump from 2007 to 2011 — and real estate values remain stable at Newport Beach and less volatile than other areas.

Where there used to be 200 properties up for auction at a time during the foreclosure crisis, there are now about 30 a week.