In case i go to forclosed my house and after the bank seal the house i do need to paid a deffrent of total the

Question

In case i go to forclosed my house and after the bank seal the house i do need to paid a deffrent of total the

Answer 1

If the bank forecloses on your home and it sells at auction, you may or may not have a period of time when you can still cure (pay) the default.  In some states, you have up to a year after the auction to get your home back, which is why many people don't buy homes at auction.  It is usually investors who will take this risk.

It will depend on the State the home is located in and the particular foreclosure process used.

The department of real estate, for your state, will have this information and probably a version of it in your first language.  Most of these sites also have a real estate law section with articles on this topic.  You might want to have a friend or family member help you with the translation, or a real estate attorney, to make sure you fully understand your options.    

I wish you luck during this stressful time.

Answer 2

HUh???

Try again when you are sober.

Answer 3

If the bank forecloses on your house, you are no longer the owner. The bank owns it.  The day before the auction date, the house is still completely owned by you.  You can pay off the back payments and keep it.  You can sell it.

After the foreclosure auction, the house will go up for sale.  Anyone can buy it.  You can buy it.  You don't know yet if the price will be high or low. You will have to wait.

Answer 4

if the bank does not sell your house for the remaining balance  they will get a judgment against you if you don't pay off the difference   between the outstanding balance[the amount you owe] and the amount they receive at public auction  if the house sells for more than the balance they must give the the overage  [this would be most unusual] i suggest you talk to the bank and/or a  real estate person and see  what they can do

Answer 5

No, when the house is gone so is your credit but they will not come after you for the difference.

Answer 6

YES.  you will owe the difference AND fees.

PLUS the IRS will tax you on this difference as income in the year that it happens.

YOU CAN'T JUST WALK AWAY.

Even if you got BK, the IRS will still want their money.

Answer 7

????????????????What are you talking about.