What happens when you foreclose a property?

Answer Property foreclosure occurs when a person is unable to repay the money he borrowed from a bank or mortgage company. The creditor then attempts to recover that money by selling the property.Final E... Read More »

Top Q&A For: What happens when you foreclose a property

How to Foreclose on a Property in Florida?

Florida topped the list of states with the most foreclosures since the beginning of the "Great Recession." The foreclosure process can be a long one and have many negative effects on the mortgage h... Read More »

How much does it cost a bank to foreclose on a property?

The average cost for a bank to foreclose on a property is approximately $50,000, according to the Joint Economic Committee of Congress. Foreclosure also costs the homeowner, neighbors and the local... Read More »

Can a condo association foreclose on an homestead property?

Your state law regarding homestead property ownership and those rights, obligations, responsibilities and how they relate to ownership within an association are both involved in the answer to this ... Read More »

Can the home owners association foreclose a property?

State laws vary. Generally, if the lien is of a considerable amount the HOA could obtain a judgement lien and then seize the property under the judgment lien. A prudent homeowner would pay the outs... Read More »