Tax Consequences for Home Foreclosure – Lawyers.com – If your mortgage is a recourse loan, you’re personally responsible for repaying the bank or mortgage company. If you don’t repay the loan, or "default," the bank can sue you for the remaining amount due on your loan if the proceeds from a foreclosure sale doesn’t cover the amount you owe.
Get Sick, Get Out: The Medical Causes for Home Mortgage. – CAUSES OF HOME MORTGAGE foreclosures christopher tarver robertson, Richard Egelhof & Michael Hoket* INTRODUCTION AND SUMMARY In recent years, there has been national alarm about the rising rate of home foreclosures, which now strike one in every 92 households in America, and which contribute to even broader macroeconomic ef-fects.’
NRS: CHAPTER 163 – TRUSTS – Nevada Legislature – [Rev. 6/2/2018 3:09:33 PM–2017] CHAPTER 163 – TRUSTS. GENERAL PROVISIONS. NRS 163.001 Definitions.. NRS 163.0011 “Electronic record” defined.. nrs 163.0013 “electronic signature” defined.. nrs 163.0015 “Electronic trust” defined.. NRS 163.0016 “nontestamentary trust” defined.
New mortgage servicing rules on table – But the rules that will be detailed by the Consumer Financial Protection Bureau are unlikely to cause either consumer advocates. A loan servicer cannot file papers to begin the foreclosure process.
What Causes Foreclosures? | Home Guides | SF Gate – The foreclosure process allows a lender to take back ownership of a property from a borrower. Foreclosure occurs when the borrower is no longer making the mortgage loan payments on time and in full. The lender can sell the home at public auction, and becomes the new owner if there are no successful bidders.
What's the No. 1 reason for foreclosure? | HowStuffWorks – Foreclosure is the process by which lenders have the legal right to recover their loan by repossessing the property that the loan was for and reselling it to recoup their loss. The process begins when borrowers miss their loan or mortgage payment.
Why Foreclosure Happens | PropertyRadar Help Center – Underwater homeowners lack these options, leaving foreclosure as the only way out, unless the lender is willing to take less than they are owed in a short sale, or modify the loan terms. Typically, the leading cause of price declines is economic downturn.
Foreclosure Factors: Subprime Mortgages or Home Values. – In Massachusetts, homeownerships made possible by subprime mortgages ended up in foreclosure almost 20 percent of the time, more than six times as often as loans made with prime mortgage rates [source: Gerardi, Shapiro, Willen].It might seem then, that eliminating subprime lending might go a long way to stemming the tide of foreclosures.