Is getting a lien forclosure while up to date on mortgage payments freshly as desperate?
I don't need answers saying ask attorney, etc.
If you know the answer then great....... here is the scenario. Live in a condominium, if hold assessment and association dues owed but not payed and they file for forclosure, will that affect credit just as discouraging as not paying your mortgage or if your up to date on payments to the last day, will it be more resembling you sold the property and they report it paid as agreed?
I'm trying to figure out if property is taken while up to date on mortgage settlement if to them it's a transfer of ownership or should I stop making payments now because it'll running out up just as bad on my credit?
Answers:
If I understand your interrogate: Lien*..(The association will put a lien on your property. That will show up on your credit. (it is not as bad..it will just show you owe them the money..and they are trying to safe and sound it by the lien. (i am confused by the question of (will it be more like you sold the property cross-question..? (1) if you have not paid association dues they will lien as you know..can they force foreclosure (It depends on the law in your state.) (If you sell the condo they the Assoc will bring back theres from the lien and show on your credit paid and satisfied. (2) There are law that govern the foreclosure process (if you are up to date on mortgage payment) key word IF*..then you enjoy a lot of options fixed of course by the level of non-attendance. (transfer of ownership* wait a minute...(No matter how you look at this it is a legalized question. what does your state say.. its legal* (As far as holding reimbursement.. if you are in a bad process and need cash enormously very bad (Suggestion: Hold lolly for as long as you can..CASH IS KING TODAY!!)..Hope this helps.
There is no simple straightforward answer. It depends on your states law and your homeowners association agreement. It is possible that you will still owe money after the property is auctioned off or sold if the sales price does not cover adjectives of the money you owe. That could include the legal fees to foreclose. I think it's a locked assumption that any money you owe which isn't paid would be turned over to a collection agency and would appear on your credit report.
The may newly get a lien and not try to take over the property.
A lien will trademark it impossible for anyone else to buy the condo until the lien is satisfied. They could just dally for you to sell the condo and take their money at closing.
Related Questions:
How fruitless will it be if I don't foot my mortgage for two months so that my lender can lower my monthly payments?
Bad credit loans that doesn't stipulation 3% down and not a payday loan or mortgage loan?
If i own a doomed to failure credit here is any course to refinance mi mortgage?because i,m paying 3,100 a month?
And on my report Mortgage 0%, Revolving 2%, Installment 98%, Other 0% Is this obedient or desperate what do I have need of to do?
My bro wishes to put a unmarked house and mortgage within his girlfriends dub because he have impossible credit?
If you know the answer then great....... here is the scenario. Live in a condominium, if hold assessment and association dues owed but not payed and they file for forclosure, will that affect credit just as discouraging as not paying your mortgage or if your up to date on payments to the last day, will it be more resembling you sold the property and they report it paid as agreed?
I'm trying to figure out if property is taken while up to date on mortgage settlement if to them it's a transfer of ownership or should I stop making payments now because it'll running out up just as bad on my credit?
Answers:
If I understand your interrogate: Lien*..(The association will put a lien on your property. That will show up on your credit. (it is not as bad..it will just show you owe them the money..and they are trying to safe and sound it by the lien. (i am confused by the question of (will it be more like you sold the property cross-question..? (1) if you have not paid association dues they will lien as you know..can they force foreclosure (It depends on the law in your state.) (If you sell the condo they the Assoc will bring back theres from the lien and show on your credit paid and satisfied. (2) There are law that govern the foreclosure process (if you are up to date on mortgage payment) key word IF*..then you enjoy a lot of options fixed of course by the level of non-attendance. (transfer of ownership* wait a minute...(No matter how you look at this it is a legalized question. what does your state say.. its legal* (As far as holding reimbursement.. if you are in a bad process and need cash enormously very bad (Suggestion: Hold lolly for as long as you can..CASH IS KING TODAY!!)..Hope this helps.
There is no simple straightforward answer. It depends on your states law and your homeowners association agreement. It is possible that you will still owe money after the property is auctioned off or sold if the sales price does not cover adjectives of the money you owe. That could include the legal fees to foreclose. I think it's a locked assumption that any money you owe which isn't paid would be turned over to a collection agency and would appear on your credit report.
The may newly get a lien and not try to take over the property.
A lien will trademark it impossible for anyone else to buy the condo until the lien is satisfied. They could just dally for you to sell the condo and take their money at closing.
Related Questions: