Q1: If the property is in pre-foreclosure, how do I buy before foreclosure? – Answer: When a property is in pre-foreclosure (NOD, LIS), the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. The pre-foreclosure period can last several months, so you may need to be patient when trying to contact the owner in default.
Tag: New York
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Albany New York foreclosure homes
Q. I have heard that the bank can take all of my property and even my retirement too, is that true? – Ans. No. They can only foreclose on what they have in the mortgage. No more, no less.
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New York foreclosure homes
Question: What is foreclosure? – Foreclosure is a legal process in which the rights to a property is taken away from the owner and the property is then sold to satisfy unpaid mortgages and liens against the property.
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Syracuse New York foreclosure
Q4: How do I buy property I see posted on RealtyTrac? – Answer: How you go about buying a property posted on RealtyTrac depends on the property status. If the property is For Sale By Owner or a Resale Home, you would approach the owner or the listing agent to make an offer. If the property is in foreclosure, the process of buying will differ from the typical real estate purchase.
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Yonkers New York foreclosure
Question: How much time is given to vacate the property once the foreclosure process is completed? – Remember, once the Trustee’s sale is complete, the title to the property is given to the new owner and your rights to the property are gone and the new owner gets immediate possession. Note: Foreclosure is a serious matter and it is advisable to contact an attorney for legal advice.
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Rochester New York foreclosure
Q6: How do I check property liens, value and equity? – Answer: Additional liens against a property (these can include delinquent taxes) can be researched several ways.
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Buffalo New York foreclosure
Question: If I lose my property through foreclosure, can I get any money from the foreclosure sale? – Answer: Yes. But first, any remaining balance on the mortgage will be paid along with all outstanding property taxes and court fees. In most cases, very little, if any money, will be left for you to get.
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New York New York foreclosure
Q. Can I still live there after the Sherrif sells my house? – Ans. Yes, until the redemption period is up you can live in it. But if you move out, the lender may be able to accelerate the foreclosure period and take the property back quicker because the property was