untill what point can someone sell their house if they are in default?

Question by jnbill1204: untill what point can someone sell their house if they are in default?
When someone can’t pay their mortgage payment at what point can they not sell there house. Can they sell it in default? up to the point of repossession? When

Best answer:

Answer by donald e
u can sell up till the day of final foreclosure filing, and deed transferyou can be in default and have been served with notice of foreclosure and repo and still sell,, as long as the deed has not been legally transferred, just be aware that the amount due will be with penalty, fees, etc, and could exceed your payoff amount that you think you owe by 20-40000, yeppers u read it right, be sure to let the lender know what you are doing, and get an exact amount that they will accept to release the lien, gl

Know better? Leave your own answer in the comments!

Has anyone sold their house with AQS (a quick sale)?

Question by Kevin James: Has anyone sold their house with AQS (a quick sale)?
we have a 2nd house and are wanting to sell it fast, there is a company that is called AQS (a quick sale) I know they offer about 30% lower than the market value, but I am wanting to know about peoples experiences with them. Any info would be greatly appreciated.

Best answer:

Answer by glenn
I don’t know them. But I have experience in watching people use similar companies. Most of them have done what they said they would do.

First- most owners think they have an idea what their home is worth- lets pretend that is 5,000
Second – the real current market value is often lower- leta pretend that is 0,000
These companies buy your home for a percentage of the current market value- not the percentage of what you think it is worth.

If they offer you ,000- I am saying that you could put it on the market for ,000 and firm- it would be common in my market that a home priced that low would often sell very quickly and after all costs you would net (in this example) about ,000 more than thru the quick sale company.

Notice- I am saying that whatever you think it is worth is often more than the real current market value. So you have to base all the real figures on the truth and not what you wish were true.

Give your answer to this question below!

Q&A: what does it mean when someone does a quick sale on their house? How does it affect the bank/buyer..?

Question by April N: what does it mean when someone does a quick sale on their house? How does it affect the bank/buyer..?
ie. credit, future properties.

Best answer:

Answer by Ed Atun
A “short” sale is when the mortgage is 0,000 and the value of the house is 0,000. If you sold the house for what it is worth, you would be “short” ,000 of the amount needed to pay off the loan. If the bank approves a short-sale, the seller’s credit drops to 600 FICO score.

A sale by “Quit Claim” Deed means that one (or more) persons are giving up their interest in the house. In a divorce a husband might sign a Quit Claim deed to his ex-wife. Now the wife is the only owner. No effect on anyone’s credit.

What do you think? Answer below!

House Numbers – Numerology Reveals their Meaning

Check out these house repossession assistance products:

House Numbers – Numerology Reveals their Meaning
Numerologist: Thomas Muldoon reveals all in a fun and fascinating manner. A published author of four books, a motivational speaker, a regular radio and television guest invites you to his world of Numerology and Astrology
House Numbers – Numerology Reveals their Meaning

Is it legal for someone to set up as a small business and buy their own home to rent back to themselves?

Question by culintg: Is it legal for someone to set up as a small business and buy their own home to rent back to themselves?
hello, strange question (that came up in an even stranger conversation!) – is it legal for someone to set up a small business as a landlord, then buy their current house and rent it back to themselves? Im sure it isn’t and i don’t want to loose a bet!
In the UK!

Best answer:

Answer by Studbolt X
It’s legal in the US. You don’t think John and Cindy McCain own all those homes in their own names do you?

Add your own answer in the comments!

EU official proposes rights, support for crime victims, their relatives

EU official proposes rights, support for crime victims, their relatives
BRUSSELS – When Maggie Hughes heard that her son Robbie was beaten into a coma while vacationing on the Greek island of Crete, he’d already been in a hospital about 10 hours. The news didn’t come from police, hospital officials or the British Embassy, but from a friend who called Robbie’s girlfriend who then called Hughes.
Read more on The Canadian Press via Yahoo! Canada News

Kenya: Govt Deports Human Rights Investigator
The deportation from Kenya of the human rights investigator Clara Gutteridge raises concerns about Kenya’s openness to scrutiny, the East and Horn of Africa Human Rights Defenders Project (EHAHRDP) and Human Rights Watch said today.
Read more on AllAfrica.com

Petitions to watch | Conference of 05.19.11
On May 19, the Court will consider petitions on such issues as preemption of a state statute providing in-state tuition for illegal aliens and the legal standard that governs the determination whether a party alleging fraud under Federal Rule of Civil Procedure 60(b) is entitled to an evidentiary hearing.
Read more on SCOTUSblog

Q&A: A relative wants to put their car in my name to avoid repossession?

Question by briand7802: A relative wants to put their car in my name to avoid repossession?
A relative of mine may be in some financial trouble in the future, and they think that if they put their car in in my name, it can’t be repossessed, now I’m not naive enough to believe it’s that simple, especially when we have the same surname and it’s been sold to me for a tiny amount, surely they will see through it and get a court order to pursue me for the debt or car, etc?

Any answers would be hugely appreciated, as as much as I would like to help them out, I need to know what I’m getting into first.

This is in the UK, just to add.

Thank you
Part of the car was paid for by credit card, so I’m not sure what effect that has on it, I assume if the CC company were the ones chasing a debt, they would go after the car as I believe there is still some money owed on the CC for that.

They’re not in any trouble currently, but they may be in the future.

Thanks so much for the answers so far, as I really want to help them out, but it’s a tough predicament as I don’t fully know what the implications will be for me.

Thanks everyone.

Best answer:

Answer by Happy Cooker
I don’t think it matters where you live, that car has a lien on it. They will still repossess it.

Know better? Leave your own answer in the comments!

Why don’t people use squatting rights if their house is up for repossession by the bank?

Question by Marigold: Why don’t people use squatting rights if their house is up for repossession by the bank?
Kicking a family out of their house because of unreasonable interest rates and greedy bankers is surely a human rights issue. Does it call for extreme/non-violent action, like squatting your own home??

Best answer:

Answer by ranger_co_1_75
Because you are trespassing and if you trespass, you will do your squatting from jail, which means your family will either be on the street because you can’t care for them, or they may be split up because children may become state wards and you will have to go through a custody hearing to prove you can care for them.

You need to think this out somemore before you do something you regret.

What do you think? Answer below!

An Introduction to bankruptcy for those who have had their house repossessed

An Introduction to bankruptcy for those who have had their house repossessed

An Introduction to bankruptcy for those who have had their house repossessed


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Home Page > Finance > Personal Finance > An Introduction to bankruptcy for those who have had their house repossessed

An Introduction to bankruptcy for those who have had their house repossessed

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An Introduction to bankruptcy for those who have had their house repossessed

By: Steve Thatcher

About the Author

Contact Steve Thatcher a qualified solicitor with Help With Debt (UK) Limited the total debt solutions company. For all further reading see http://www.helpwithdebtuk.com

For personal contact, email sthatcher@helpwithdebtuk.com. If you have any debt problem whatsover either personal or corporate make Steve your first call on 0808 160 5577. All telephone advice is free.

(ArticlesBase SC #3464970)

Article Source: http://www.articlesbase.com/An Introduction to bankruptcy for those who have had their house repossessed





Bankruptcy is often seen as the last resort in solving any debt issues, but I do not subscribe to this. On this site you will find the pros and cons of bankruptcy, and the myths of an IVA. Please read these and it will become apparent that bankruptcy has been and remains a far more utilised debt solution than the IVA.

 

The consequences of becoming bankrupt may mean (if you haven’t already), that you lose your house, it could prevent you from pursuing certain careers and, for example, prevent you from becoming a company director for a period of time.  Having said that, the severity and stigma of bankruptcy has lessened over time and it is now far more acceptable than it used to be. This year some 120,000 individuals will become bankrupt, many of them EU citizens.

 

Bankruptcy can be a daunting experience. Taking customers through the bankruptcy process, even attending court with you if necessary, is a particular area of expertise within Help With Debt UK.  We have handled the bankruptcy process for a huge number of customers and can make it a quick and painless process, providing it is the right solution for you. Just because you may be Irish will not stop you using our laws to help you out of a debt problem.

 

How do I know if I need to pursue the bankruptcy option?

The easy way to find out is to call one of our expert debt advisors.  They will, very quickly, get to understand your current financial position and advise the best way to solve your situation. The conversation is completely confidential, free of charge and without obligation. We are just here to help. If you have had your house repossessed we can provide the options on how to deal with any shortfall. We help many people who have had their houses repossessed go bankrupt every year.

 

What is bankruptcy?

Bankruptcy means that all your debts (subject to a very few minor exceptions) are written off on the instant you are made bankrupt. If you have disposable income you may be required to pay this to the Official Receiver for a maximum of three years. However as part of what we do we configure your disposable income to reduce as much as possible the potential of having to make income payments. You will generally be discharged from bankruptcy in a year or less.

 

Retrieved from “http://www.articlesbase.com/personal-finance-articles/an-introduction-to-bankruptcy-for-those-who-have-had-their-house-repossessed-3464970.html

(ArticlesBase SC #3464970)

Steve Thatcher -
About the Author:

Contact Steve Thatcher a qualified solicitor with Help With Debt (UK) Limited the total debt solutions company. For all further reading see http://www.helpwithdebtuk.com

For personal contact, email sthatcher@helpwithdebtuk.com. If you have any debt problem whatsover either personal or corporate make Steve your first call on 0808 160 5577. All telephone advice is free.

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steve thatcher, help with debt, repossessed house, mortgage shortfall, help with debt uk, bankrupt, advantages of bankruptcy, disadvantages of bankruptcy, bankruptcy fresh start, fees for bankruptcy

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