short time period of pre-foreclosure
2006-12-12 05:30:34 · 5 answers · asked by jonasg20 1 in Business & Finance ➔ Renting & Real Estate
In order for a property to foreclose in a short period of time, the seecurity device used must be a trust deed... NOT a mortgage. Even in States where Trust Deeds are the main security device, there are a few properties that still use a mortgage. For this reason, there is no 100% correct answer to this question.
2006-12-12 05:40:50 · answer #1 · answered by Anonymous · 0⤊ 0⤋
The state really has nothing to do with the foreclosure process. It really has to do with the bank that is carrying out the foreclosure proceedings. They can be as passive or aggressive as slow or as fast as they choose to be. I have seen foreclosures take place in a matter of weeks and others drwan out to almot a year. It really depends on the situation.
2006-12-12 06:20:11 · answer #2 · answered by Michel D 2 · 0⤊ 0⤋
Default and foreclosure are banking issues (lenders) and since most mortgages are held by large national companies, the state would not be an issue. (unless this is a loan from a very small local lender, but even then it would be the lenders choice & stated in the paperwork)
The state should only be an issue for tax delinquency and even that would be a county issue, not state.
2006-12-12 05:41:53 · answer #3 · answered by kate 7 · 0⤊ 0⤋
Hmmm, I'm not sure any of them do. That doesn't seem like enough time. You may want to check a foreclosure listing service like http://www.foreclosure.com and check when the NOD is listed then check with the county or state gov site to cross reference.
Good luck.
2006-12-15 09:12:09 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You can foreclose in Georgia in as little as 37 days (theoritically).
2006-12-12 06:30:28 · answer #5 · answered by Barbwired 7 · 0⤊ 0⤋