Can you explain foreclosure rules and processing?
An associate of mine, newly weds living with their parents, is pre-approved and is seeking to purchase this foreclosure. The bank holding the foreclosed property/mortgage has had three appraisals on the property this young couple wishes to buy. This young couple has had their escrow tied up for 6 months. Is there any hope in sight?
The laws differ in each state. Purchasing a home in foreclosure can be tricky because the current owner is given several chances to avoid the foreclosure. Ultimately, the couple seeking the home, is probably going to have to retain a lawyer, who will petition the court to act on the matter and to approve the foreclosure. That will allow the couple to purchase it. However, before putting any money down, they need to have an attorney or abstractor do a title search, to determine that a clear title is available and to then make sure they are purchasing title insurance when they close on the purchase of the home.
Bottom line--be cautious and retain professional help.
by Julianna5 years ago
After foreclosure how long do you have to wait before purchasing the next home?
by John Walter3 weeks ago
Hello,I am a small time online content investor from California and I have recently been turned on to the HubPages community by a friend in the same field of business. I am interested in purchasing a HubPages account...
by ngureco7 years ago
What If A White Couple Gave Birth To A Black Baby? How Would The Wife Explain This?This May Be Genetically Possible For a White Couple to Have a Black Baby and a Black Couple to Have a White Baby.
by Rastamermaid6 years ago
Someone explain to me the kindle craze.I'm a avid reader but ole school. I like turning pages and with me reading quite abit,because of space and eco reason I'm looking at kindle but I'm on the fence.
Copyright © 2018 HubPages Inc. and respective owners.
Other product and company names shown may be trademarks of their respective owners.
HubPages® is a registered Service Mark of HubPages, Inc.
HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.