My ex's home be sold at sheriff's Dutch auction. Mortgage comp. bought house. He told me he is refinanacing. can he?
He lives in the state of maine and the foreclosure papers I've reviewed indicated the State of redemption has expired. How can he refinance a home that is to say owned by the bank? Is he lying to me?
He can not get a loan on property that he doesn't own. Is he buying it back from the mortgage company?
If the house went to foreclosure public sale and no one purchased the house then the lender took endorsed possession of the property.
He should have been asked to move out of the property,once the foreclosure mart was completed and the lender took over. There is a very remarkably slim chance that he might have be able to rent the property, but that is extremely slim that the lender would allow the previous owner to remain surrounded by the property.
Now about the redemption period. Normally a redemption time is allowed by states if the lender decide to foreclose using the judicial foreclosure procedure. The state determines the length of the redemption time of year, but it is normally a year.
If the property was taken put money on by the lender, they would normally put it back on the open market for sale through a local real estate brokerage company.
If this have happened he might be trying to repurchase the property from the real estate company. This is not a refinance this is a bright purchase.
So even though he might be repurchasing the property he could be telling you he is refinancing.
There is no way he can refinance a house once the lender have gone through foreclosure and taken the house back. They would record a action with their name on the property.
You might check next to a local title company and see who owns the property. Check in your local telephone book for one. They might do it as a courtesy. If not get hold of a person you know in genuine estate to find out the information on your behalf. It is easy and public information. You can obtain the information from the county recorder office.
If he owns the property his name will be on the creation, if not someone else's name will be on the work.
I hope this has been of some use to you, polite luck.
"FIGHT ON"
"> I don't think he can appointment it refinancing. He may be buying it back and securing another mortgage. They could be putting it in his wife's cross. It doesn't matter as long as your son has a place to live and he's right within saying it isn't any of your business. Your child support goes to the charge of your son. Part of that care is having a fully clad place to live. Source(s): Been there, done that
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He can not get a loan on property that he doesn't own. Is he buying it back from the mortgage company?
If the house went to foreclosure public sale and no one purchased the house then the lender took endorsed possession of the property.
He should have been asked to move out of the property,once the foreclosure mart was completed and the lender took over. There is a very remarkably slim chance that he might have be able to rent the property, but that is extremely slim that the lender would allow the previous owner to remain surrounded by the property.
Now about the redemption period. Normally a redemption time is allowed by states if the lender decide to foreclose using the judicial foreclosure procedure. The state determines the length of the redemption time of year, but it is normally a year.
If the property was taken put money on by the lender, they would normally put it back on the open market for sale through a local real estate brokerage company.
If this have happened he might be trying to repurchase the property from the real estate company. This is not a refinance this is a bright purchase.
So even though he might be repurchasing the property he could be telling you he is refinancing.
There is no way he can refinance a house once the lender have gone through foreclosure and taken the house back. They would record a action with their name on the property.
You might check next to a local title company and see who owns the property. Check in your local telephone book for one. They might do it as a courtesy. If not get hold of a person you know in genuine estate to find out the information on your behalf. It is easy and public information. You can obtain the information from the county recorder office.
If he owns the property his name will be on the creation, if not someone else's name will be on the work.
I hope this has been of some use to you, polite luck.
"FIGHT ON"
"> I don't think he can appointment it refinancing. He may be buying it back and securing another mortgage. They could be putting it in his wife's cross. It doesn't matter as long as your son has a place to live and he's right within saying it isn't any of your business. Your child support goes to the charge of your son. Part of that care is having a fully clad place to live. Source(s): Been there, done that
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