Will I receive my equity if my house is forclosed on for insufficiency of paying association fees? My mortgage is salaried.?
I understand that I would first have to wages all fees and fines prior to possible recieving any leftover money from the public sale.
Answers:
I am not sure where on earth these people are getting their "facts" that you lose all of your equity when you allow your home to travel into foreclosure. There is NO truth to that whatsoever--providing that you DO have equity.
In a foreclosure sale, adjectives of the liens are paid off, one by one, including foreclosure costs and officially recognized fees, and any money that is left over is refund back to you.
In fact, they enjoy 30 days to get it to you by law or they hold to start paying interest on it. Source(s): Many, many years as a Realtor and former mortgage underwriter/broker...and always followed by my 7 "thumbs down" Y!A stalkers.
NOPE.!
when the house is foreclosed on it is sold for the best price it can get .
however the Property ASSoc is interested in getting Its
money NOT yours so u find nothing.
ur equity is gone. Sorry.
U need to supply EVERYTHING of value Today that is not blood relateover the moon can pay off adjectives ASSociation fee including lawyers.
anything that brings money within goes to ASSociation fees.
Don't pay credit cards be delayed on cars anything to STOP from lossing ur HOME.
Note in Tx it is not unusual for 150K -250K house to be sold for penny on dollars to satisfiy Propety ASSociation fees and home owner LOSE ALL equity - legally.
supply EVERYTHING to get caught up TODAY. Source(s): foreclosure server
You are letting them foreclose?
After there legal fees, interest and the HOA fees own been paid you will receive the remainder monies from the mart.
Probably not. Why would you risk losing that over association fee's? Refinance the place and income off the debt to the assocation. Be smart about your finances. Source(s): appraiser/realtor
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Answers:
I am not sure where on earth these people are getting their "facts" that you lose all of your equity when you allow your home to travel into foreclosure. There is NO truth to that whatsoever--providing that you DO have equity.
In a foreclosure sale, adjectives of the liens are paid off, one by one, including foreclosure costs and officially recognized fees, and any money that is left over is refund back to you.
In fact, they enjoy 30 days to get it to you by law or they hold to start paying interest on it. Source(s): Many, many years as a Realtor and former mortgage underwriter/broker...and always followed by my 7 "thumbs down" Y!A stalkers.
NOPE.!
when the house is foreclosed on it is sold for the best price it can get .
however the Property ASSoc is interested in getting Its
money NOT yours so u find nothing.
ur equity is gone. Sorry.
U need to supply EVERYTHING of value Today that is not blood relateover the moon can pay off adjectives ASSociation fee including lawyers.
anything that brings money within goes to ASSociation fees.
Don't pay credit cards be delayed on cars anything to STOP from lossing ur HOME.
Note in Tx it is not unusual for 150K -250K house to be sold for penny on dollars to satisfiy Propety ASSociation fees and home owner LOSE ALL equity - legally.
supply EVERYTHING to get caught up TODAY. Source(s): foreclosure server
You are letting them foreclose?
After there legal fees, interest and the HOA fees own been paid you will receive the remainder monies from the mart.
Probably not. Why would you risk losing that over association fee's? Refinance the place and income off the debt to the assocation. Be smart about your finances. Source(s): appraiser/realtor
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