Tag: foreclosure

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Glendale Arizona foreclosure

What are redemption rights? – These is when the borrower has the right to “redeem” what is owed and get title to their property after the sale. This is not available in all states and the length of this period varies. When the redemption period is long, investors purchase the junior liens on the property so that they may have the right to redeem the property from foreclosure. Whoever holds the most junior lien has the last right to redeem the property by paying the underlying liens. The highest right is reserved for the owner. By obtaining a quitclaim deed for the owner, you have the right to redeem the property yourself.

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Glossary

Blanket Deed of Trust foreclosure

Blanket Deed of Trust | A deed of trust secured by more than one lot or parcel of land.

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Lincoln Nebraska foreclosure

Question: Who can foreclose on my property? – Answer: Mortgage holders and other lien holders who have a vested interest in loans on your property, which is used as collateral, can foreclose on you.

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Greensboro North Carolina foreclosure

Question: When do foreclosure proceedings start? – Answer: In most cases, foreclosure proceedings are started when payments become delinquent.

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Glossary

Bill of Sale foreclosure

Bill of Sale | Written document by which title to personal property (goods or chattels) is transferred from one party to another.

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Fort Wayne Indiana foreclosure

Question: What is foreclosure? – Foreclosure is a legal process in which the rights to a property is taken away from the owner and the property is then sold to satisfy unpaid mortgages and liens against the property.

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Glossary

Bid foreclosure

Bid | An offer by an intending purchaser to pay a designated price for property which is about to be sold at auction.

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Henderson Nevada foreclosure

Question: What about tax liens? – Answer: A tax sale can take place if you get behind on your property taxes. The tax sale can be initiated by federal, state or local taxing agencies.

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Glossary

Betterment foreclosure

Betterment | Any improvement of real estate that results in a rise in market value of that property.

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Buffalo New York foreclosure

Question: If I lose my property through foreclosure, can I get any money from the foreclosure sale? – Answer: Yes. But first, any remaining balance on the mortgage will be paid along with all outstanding property taxes and court fees. In most cases, very little, if any money, will be left for you to get.

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