Seller Financing | A creative method in real estate where the seller of a property agrees to finance all or some of the property. In a sense, the owner acts like a bank.
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Author: adminnfc
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Cedar Rapids Iowa foreclosure
Question: If I file bankruptcy, how will that help me? – Answer: Bankruptcy will stop the foreclosure proceedings and give you time to work out a plan through the courts.
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Second Mortgage foreclosure
Second Mortgage | A second loan placed upon a property in addition to an existing first loan.
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Carrollton Texas foreclosure
Question: How will I know when the foreclosure process begins? – Answer: Once foreclosure proceedings are initiated, a Notice of Default will be recorded at the County Recorders Office in the county in which the property is located and you will be notified by regular mail and by certified mail.
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Sales Contract foreclosure
Sales Contract | A contract to which the buyer and seller agree to terms of sale.
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Columbia South Carolina foreclosure
Question: How much time is given to vacate the property once the foreclosure process is completed? – Remember, once the Trustee’s sale is complete, the title to the property is given to the new owner and your rights to the property are gone and the new owner gets immediate possession. Note: Foreclosure is a serious matter and it is advisable to contact an attorney for legal advice.
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Redemption Period foreclosure
Redemption Period | The time allotted to the mortgagor to reclaim his/her property after it has been sold at an auction. Not all states have a redemption period.
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McAllen Texas foreclosure
Question: How much time do I have after a Notice of Default is filed? – Answer: Normally, it is ninety days plus twenty to twenty five days for publication. But it would be wise to read all correspondence carefully, and or contact an attorney, to make sure what your rights are and what the time frame is in your situation.
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Recorder foreclosure
Recorder | A public official that is responsible for keeping all the records of real estate transactions.
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Fullerton California foreclosure
Question: How many payments can I miss before my lender puts my property in foreclosure? – Answer: It depends on what type of loan you have. Your mortgage contract should state how many payment you can miss before a Notice of Default is filed and sent to you.