Happens
What Happens In The Mortgage Foreclosure Process?
Mortgage foreclosure is an official, legal process wherein a person, a group, or a company owes money to a lender and can’t pay. In which case, the lender would force the sale of a real estate property involved in order for them to pay off the loan completely. To know more about the foreclosure process, [...]
What Happens To A Real Mortgage When A Debtor Files For Bankruptcy?
I’m a creditor whose debt is secured by a real mortgage. I’ve received recently a notice that the debtor has filed for bankruptcy under chapter 7 of the US Bankruptcy code. What will happen to both my loan and my mortgage? Will I be enjoined from foreclosing the mortgage? The insolvent [...]
What Happens To A Second Mortgage When A Home Is Purchased At A Foreclosure Auction?
I am going to bid on a house at foreclosure and it has a 1st mortgage of $280K and a second of $70K. The lender on the first two mortgages is Decision One Mortgage. The lender at foreclosure is Countrywide. Does this mean that if I buy this house at foreclosure that [...]