Comments on: How does the Foreclosure Process work http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/ Offers necessary informational guidance on the actual foreclosure process and other questions Fri, 03 Feb 2012 09:30:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Admin http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-853 Admin Thu, 17 Feb 2011 03:20:25 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-853 Hello, Peyden In this case, it would be wise to talk with an attorney and get specifics on your state, and your financial situation. A lot of the time you can come to a deal with the bank and get them to lower your payments because they want to do anything in their power typically to avoid foreclosure. If you decide to file for Chapter 7 Bankruptcy (which is typically the best option because it saves your other assets from being taken), then it is best to stop making payment on the place. <b>Attention!</b> The answers to the questions listed are based on the most up-to-date information we could find and cannot be guaranteed to be 100% correct in your state. Please, be sure to check your State Statutes and/or talk with an attorney/lawyer to get more information pertaining to your case. Also read : <a href="http://www.foreclosurequestionsguru.com/foreclosure-frequently-asked-questions/" rel="nofollow">Foreclosure Frequently Asked Questions</a> <a href="http://www.foreclosurequestionsguru.com/bankruptcy-questions-information/" rel="nofollow">Bankruptcy Frequently Asked Questions</a> Hello, Peyden
In this case, it would be wise to talk with an attorney and get specifics on your state, and your financial situation. A lot of the time you can come to a deal with the bank and get them to lower your payments because they want to do anything in their power typically to avoid foreclosure. If you decide to file for Chapter 7 Bankruptcy (which is typically the best option because it saves your other assets from being taken), then it is best to stop making payment on the place.

Attention!
The answers to the questions listed are based on the most up-to-date information we could find and cannot be guaranteed to be 100% correct in your state. Please, be sure to check your State Statutes and/or talk with an attorney/lawyer to get more information pertaining to your case.
Also read : Foreclosure Frequently Asked Questions
Bankruptcy Frequently Asked Questions

]]> By: peyden http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-843 peyden Tue, 15 Feb 2011 03:28:37 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-843 I'VE TRIED TO GET A SHORT SALE BUT THE BANK DENIED US. THE CONDO IS 140,000 UP SIDE DOWN.......SHOULD WE STOP PAYMENTS? THERE IS NO WAY OUT .......THE CONDO WILL NEVER GO UP IN VALUE. WE ARE BOTH RETIRED AND WE DON'T WANT TO PAY ON THIS FOREVER. IS IT WISE TO FORECLOSURE ON THE CONDO? CAN THEY COME AFTER US FOR THE DIFFERENCE WHEN THEY SALE THE PROPERTY? I’VE TRIED TO GET A SHORT SALE BUT THE BANK DENIED US.
THE CONDO IS 140,000 UP SIDE DOWN…….SHOULD WE STOP PAYMENTS?
THERE IS NO WAY OUT …….THE CONDO WILL NEVER GO UP IN VALUE.
WE ARE BOTH RETIRED AND WE DON’T WANT TO PAY ON THIS FOREVER.
IS IT WISE TO FORECLOSURE ON THE CONDO? CAN THEY COME AFTER US
FOR THE DIFFERENCE WHEN THEY SALE THE PROPERTY?

]]> By: Happy http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-844 Happy Sat, 12 Feb 2011 03:59:41 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-844 Hello, Jim During foreclosure, <strong>(from my personal experience, which may not be exactly the same situation of all case—so perhaps you need to cross check with some other sauce of information.)</strong> if bankruptcy wasn’t filed it is possible that an individual could lose their assets. Things like cars or a boat could be taken for the difference. This is why it is very important to speak with a lawyer to discuss the laws in your state and see what type of Bankruptcy would be best for you, if it would be best to file. Also read: <a href="http://www.foreclosurequestionsguru.com/primary-types-of-bankruptcy/" rel="dofollow" rel="nofollow">Primary Types of Bankruptcy</a> Hello, Jim
During foreclosure, (from my personal experience, which may not be exactly the same situation of all case—so perhaps you need to cross check with some other sauce of information.) if bankruptcy wasn’t filed it is possible that an individual could lose their assets. Things like cars or a boat could be taken for the difference. This is why it is very important to speak with a lawyer to discuss the laws in your state and see what type of Bankruptcy would be best for you, if it would be best to file.
Also read: Primary Types of Bankruptcy

]]> By: Happy http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-842 Happy Sat, 12 Feb 2011 03:22:22 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-842 Hello, Bonnie From what I've experienced, if the homeowner were to pass away, the next in kin would be responsible for taking over from there. This is dealt with on a case-by-case basis, depending on if the individual would like to stay in the house or if they have the money to do so. Speaking to a lawyer is the best thing you can do, here. My friend is actually going through this right now and it’s a very tricky process. Sometimes getting out of the home is the best option if too much money is owed. <strong>However, this is just from what I have experienced but may be not be applicable to all case and by the law.</strong> Hello, Bonnie
From what I’ve experienced, if the homeowner were to pass away, the next in kin would be responsible for taking over from there. This is dealt with on a case-by-case basis, depending on if the individual would like to stay in the house or if they have the money to do so. Speaking to a lawyer is the best thing you can do, here. My friend is actually going through this right now and it’s a very tricky process. Sometimes getting out of the home is the best option if too much money is owed.
However, this is just from what I have experienced but may be not be applicable to all case and by the law.

]]> By: Jim http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-831 Jim Sat, 05 Feb 2011 03:19:39 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-831 Are other assets safe during and after foreclosure procedure, like a car, boat, furniture and other assets or can these be held against the cash difference they sell for and whats owed. Are other assets safe during and after foreclosure procedure, like a car, boat, furniture and other assets or can these be held against the cash difference they sell for and whats owed.

]]> By: Bonnie http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-829 Bonnie Fri, 04 Feb 2011 16:38:33 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-829 What would happen if during the foreclosure process the homeowner became terminally ill and passed before the end of process and the home was still in her name? What would happen if during the foreclosure process the homeowner became terminally ill and passed before the end of process and the home was still in her name?

]]> By: Happy http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-770 Happy Fri, 14 Jan 2011 04:52:53 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-770 Hello, Ronnie groover Foreclosure procedures vary by state and there is no simple answer to this question. The Notice of Intent doesn’t mean the foreclosure process has begun yet, just that the lender is about to start the process and they are giving the current owner one last notice before the ball gets rolling. At this point, it is in your best interest to do what you can to make the payments, talk to counselors, and discuss your current financial situation with them as well as your lender. The time a foreclosure takes is based on so many different variables and the Notice of Intent doesn’t tell you much because that process has not even begun yet. For more information : <a href="http://www.foreclosurequestionsguru.com/primary-types-of-bankruptcy/" rel="nofollow">Foreclosure Frequently Asked Questions</a> Hello, Ronnie groover
Foreclosure procedures vary by state and there is no simple answer to this question. The Notice of Intent doesn’t mean the foreclosure process has begun yet, just that the lender is about to start the process and they are giving the current owner one last notice before the ball gets rolling. At this point, it is in your best interest to do what you can to make the payments, talk to counselors, and discuss your current financial situation with them as well as your lender. The time a foreclosure takes is based on so many different variables and the Notice of Intent doesn’t tell you much because that process has not even begun yet.
For more information : Foreclosure Frequently Asked Questions

]]> By: Happy http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-769 Happy Fri, 14 Jan 2011 04:49:06 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-769 Hello, Craig The person who was paying off the house that was later foreclosed may be required to pay the difference. This all depends on the lender. Sometimes, the lender and the previous owner may come to an agreement and the lender may just let that amount go, not requesting any more payments. Getting an attorney may be a good idea during this confusing time. Hello, Craig
The person who was paying off the house that was later foreclosed may be required to pay the difference. This all depends on the lender. Sometimes, the lender and the previous owner may come to an agreement and the lender may just let that amount go, not requesting any more payments. Getting an attorney may be a good idea during this confusing time.

]]> By: Happy http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-768 Happy Fri, 14 Jan 2011 04:28:26 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-768 Hello, Glenda During foreclosure you only have to fill out a W-9 when you are receiving an income from the settlement. If you are, say, taking part in the Cash for Keys program, you would have to report that income to the IRS through a W-9. Hello, Glenda
During foreclosure you only have to fill out a W-9 when you are receiving an income from the settlement. If you are, say, taking part in the Cash for Keys program, you would have to report that income to the IRS through a W-9.

]]> By: ronnie groover http://www.foreclosurequestionsguru.com/how-does-the-foreclosure-process-work-2/comment-page-1/#comment-764 ronnie groover Wed, 12 Jan 2011 23:00:08 +0000 http://www.foreclosurequestionsguru.com/foreclosure-process/#comment-764 are the foreclosure procedures the same in all states? will there be a notice of intent to lock owner out of the house, if so, how many days would that notice be for? are the foreclosure procedures the same in all states? will there be a notice of intent to lock owner out of the house, if so, how many days would that notice be for?

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