What happens when you forclose on a house?

Answer Foreclosure is the formal action legally cancelling your ownership of a home. When you foreclose on a house, you face likely eviction from the property and damage to your credit profile. Foreclosur... Read More »

Top Q&A For: What happens when you forclose on a house

What happens when a lien is put on a house?

If you financed your home, a mortgage lien existed on the property before you even moved in. Failure to monitor your debts carefully, however, can result in a property lien being placed on your hou... Read More »

What happens when I foreclose on my house?

After mortgage payments are approximately six months behind, a person may be forced to foreclose on his home. Paperwork must be filed properly, and then there is a brief waiting period before the o... Read More »

What happens when you foreclose on a house in Texas?

Texas is a state where lenders can exercise a non-judicial foreclosure, meaning that they do not need court approval. The foreclosure process in Texas is also one of the shortest in the nation and ... Read More »

What happens when a bank forecloses on a house?

While the foreclosure time frame for banks can vary from state to state, the overall procedure is the same. Bank foreclosures follow a strict set of rules and guidelines.Default NoticeApproximately... Read More »