Is the amount listed the amount owed or is there additional loan added to it that is not listed?
2006-10-04 15:11:15 · 5 answers · asked by PeeWee 1 in Home & Garden ➔ Other - Home & Garden
When you can not pay for your loan(house or car) any more and Bank is taking your house from you.
2006-10-04 15:17:00 · answer #1 · answered by nanrai18 5 · 0⤊ 0⤋
When you haven't paid you mortgage after several months it will go into foreclosure and can be sold for the amount owed instead of how much it is worth.
2006-10-04 22:19:14 · answer #2 · answered by Kelly 2 · 0⤊ 0⤋
foreclosure is when a mtg is 3mths in arrear's, the house is sold to the first person who makes a bid for what the mtg holder deams what the house is worth,there are no hidden additional cost's. Bank does title search before property is put up for sale..
2006-10-04 22:35:26 · answer #3 · answered by glasgow girl 6 · 0⤊ 0⤋
It means someone didn't make the payment and the bank is taking it back. There could be additional cost for courts and attorneys.
2006-10-04 22:18:17 · answer #4 · answered by mom363546 5 · 0⤊ 0⤋
I think it's what is owed. Have the title search before buying so you know there are no leans on it.
2006-10-04 22:15:06 · answer #5 · answered by whataboutme 5 · 0⤊ 0⤋