Posts Tagged ‘foreclosure’

Question by Paul: If I have a home and is currently under foreclosure would that effect my other home currently paying for?
I have a home wich I am up to date but the other home is in forclosure. My biggest concern is if because of the foreclosure I could end up losing my other home as well or any other thing that I own. I know is not the IRS but it is one of my concerns.

Best answer:

Answer by Othniel
I don’t think your home will be in danger, but any kind of refinancing will most likely be affected.

Add your own answer in the comments!

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Question by aeg22: Will going into foreclosure affect my ability to find a job and rent an apartment in the future?
Also, will it affect my present job, as far as rate increase or getting fired if they will know i will go into foreclosure?

Best answer:

Answer by Andrew
It will probably affect your ability to rent higher-end apartments. It will definitely affect your ability to get loans, mortgages, and other lines of credit.

It shouldn’t have any effect on your (current or future) job, unless you require a security clearance where they check your credit.

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Question by timbalita: How long does it takes for the bank to foreclosure a home?
I dont know if im asking correctly, my niece is moving to my sister’s home which she was unable to continue paying for ( she bought the house 3 years ago). My sister already move away to another state and left the house for foreclosure or for the bank to take since she can no longer pay and told my niece that she could move in until the bank takes it away. But our question is how long until the bank takes over the house physically? since she haven’t pay for 3 months? Thanks for your answers.

Best answer:

Answer by Luke 6:37
Foreclosure will probably start soon. Depending on the state, it can take a 1-3 months to foreclose.

Whatever the case, it’s not smart for your niece to be there. As soon as the home is taken over by the bank they will kick her out immediately.

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Cenk Uygur (host of The Young Turks) on MSNBC Live speaks with Matt Taibi of Rolling Stone about bank foreclosure fraud.
Video Rating: 4 / 5

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Question by KS: How long does it typically take for the bank to approve/reject offer on a foreclosure?
The realtor said “rather quickly.” I’d like to know in terms of days/weeks what quickly means. Talking about an actual foreclosure, not short sale.

In addition, do banks ever counter, or is it always just accept or reject?

Best answer:

Answer by rhemasrvs
This can take as little as one week or as long as 6 months to a year. There is no way to know and each bank is different. If you have the patience, in many cases you can get a great deal.

What do you think? Answer below!

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US $3.25 End Date: Saturday Feb-04-2012 21:12:52 PST Buy It Now for only: US $3.25 Buy it now | Add to watch list

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