Question by William H | Posted in Renting & Real Estate
A edifice is being foreclosed and posted in the news paper. I did a title search and the popular foreclosure is for the second mortgage. Does anyone now what happens to the first loan. If I bid and won would I get the house.
I was under
Answer: To foreclose, the defective lien holder has to pay the first off in full. Slim chance there will be anything left for the backer to get after that occurs.
Will The Garnish My Paycheck Or Take My Tax Returns In Oklahoma For An FHA Mortgage Foreclosure Debt?
Question by Connie | Posted in Renting & Real Estate
My FHA mortgage is in the procedure of foreclosure. Can they garnish my paycheck or take my state or federal tax return for the foreclosure in hock? Does the mortgage insurance I paid help at all, since it was an FHA loan. Please forbear!!
Answer: did you look up your states laws on resort? If they have it yes they can not only send you a 1099 on any shorts after it is sold but the lender can sue and get a judgment and then ascribe a garnishment to wages
Who Is At Fault In The Current Mortgage Foreclosure Crisis?
Question by OFG30 | Posted in Current Events
I contend alot of rebuke should be at the feet of "get rich quick" mentality mortgage brokers who pushed ARM's so much. What do you dream?
Answer: Wayyyyyyyyy back in the days of Emancipation, there were former slavey holders who 'mortgaged' land to disadvantaged, uneducated freed slaves. The details of the covenant basically turned the 'free' BACK into slaves..because they were never able to 'write
Can Someone Explain The Mortgage Foreclosure Process?
Question by vals.beach | Posted in Renting & Real Estate
Florida. Also, can a mortgagee put a lien on other assets if not familiar as security in that mortgage?
Answer: This is not limited to Florida but, the general foreclosure proceeding is:
1. Foreclosure suit filed in court and with the county recorder's responsibility
2. Mandatory filings, notices and a statutory period of 'goodness
Many owners vacating foreclosed homes are selling off all the fixtures before they turn one's back on, further depressing home values, even their neighbors' ...
LegalNewsline | Colo. AG cracks down on mortgage and foreclosure fraud
by Keith Loria
DENVER (Licit Newsline) -- In an trouble to shot down on mortgage and foreclosure gyp, Colorado Attorney Approximate John Suthers is attractive authorized actions against a mortgage fast, its P and an hand who were victimizing Colorado borrowers.
Suthers' kick names American Mortgage Consultants, an Aurora, Colo.-based advance modification band, possessor Oliver Paul Maldonado and staff member Santiago Fabian Pineda. The resolute is accused of allegedly using deceitful selling practices to seduce customers and of illegally collecting up-front fees for its services.
"The fine kettle of fish of mortgage brokers falsifying consumers' earnings or wrongly vouching for their abilities to pay back exorbitant loans has obviously contributed to Colorado's foreclosure disaster," Suthers said. "Credit modification and foreclosure let go free firms also have only exacerbated Colorado's foreclosure critical time. These firms, like stressful mortgage brokers, target on consumers' hopes of owning their homes."
More homeowners are getting improve avoiding foreclosure through loan modifications and other efforts -- but "more" doesn't automatically mean "very many"
Though the edition of homes in the foreclosure process has fallen a bit, the number of foreclosed homes owned by lenders and mortgage investors continues to
to a overall of 239000 completed "foreclosure prevention activity" efforts. Endless mortgage modifications through the government's Home Affordable
More homeowners are getting improve avoiding foreclosure through loan modifications and other efforts -- but "more" doesn't automatically mean "very many"