Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Chris asks…

How far behind in mortgage payments before a bank starts the foreclosure process? ?

Is there a set time it takes before you are actually out of your home?

Your Questions About Foreclosures

The Expert answers:

By the third month you should have all your bags packed.The 1st month phone calls, month 2 legal action, 3 your mail is re-routed at the post office.

Your Questions About Foreclosures

Donald asks…

Can anyone help me understand the foreclosure process of my condo home?

I have a condo unit that have not been able to pay, I have kept up with assessments. I recently put it up for short sale and am usually working but I think the bank is trying to serve me with court papers. I have received a first notice already but not a second. How much time do I have before i need to move out. And can i get in trouble if I am not home to receive second notice

Your Questions About Foreclosures

The Expert answers:

If you had asked this 4 yrs ago, you would have been given the DEFAULT answer, as it was
a “mechanical, fast process.” Today, with the fed told by the president to not foreclosure unless
the bank HAS too, it is advisable to work on paying off the loan.

If you can pay 25% of the normal payments, this will help you immensely. WHEN you are
working FT again, at a pay rate at least 75% of what you used to earn, start making payments
2x a mo. IT is VERY feasible that you will NOT lose your condo at all!!!

It is very feasible that you need only to get back to normal payments within 6 mo and
no problem will occur with the lender.

YOU did not state if you have any equity or how long you have owned the property; it does matter.

Available to guide you, free

Your Questions About Foreclosures

Donna asks…

In the state of Nebraska, what is the typical foreclosure process?

A friend of mine says she has received a notice of intent to foreclose. She is curious as to how much time she will be given to vacate the property if she can not bring the payment current.

Your Questions About Foreclosures

The Expert answers:

Depending on who her mortgage lender is and what your state laws dictate. If the mortgage lender is out of state, but they have hired a “foreclosure attroney” to help with in state transactions…then it could be 6 months to a year. Best case…can she bring the mortgage current? If not, then tell her to get with her lender and see about a “time frame” for her to sell the property herself. If there is any equity in the property, get the help of a rebutable Real Estate agent to help her.

Your Questions About Foreclosures

Betty asks…

Why has my foreclosure process gone for over 2 years?

The first two times I went to court I was sent home by the judge because the bank failed to sent in the mortgage information, or any other papers, on my court date. Then when I got a third court date it was canceled by the bank who instead decided to do a “mediation” with me but nothing came of it. That was a year ago and I have not heard from anyone since then. WHAT’S GOING ON?

Your Questions About Foreclosures

The Expert answers:

Banks and lenders are just overloaded and/or your paper work was lost. Just continue to live in the property…..you are getting free rent and it is better for the lender that someone is living in the property. It prevents vandalism and squatters

Your Questions About Foreclosures

Daniel asks…

Do you agree that the US government has taken our houses away through an illegal foreclosure process?

despite not having the original mortgage? Explain.

Your Questions About Foreclosures

The Expert answers:

No

foreclosure is where someone does not pay a lien or taxes due on a property

it is quite legal

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures