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#1 |
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real estate foreclosure sale
"I wonder if you could tell me , we went to a real estate foreclosure sale today at the court house, there was a builder that was the plaintiff due to a lein. does he actually own the property now..... what happens with the mortgage that the defendant had on the house......
thanks Dan" |
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#2 |
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he or the bank owns it now yes...the mortgage is finished if the lender took back the property
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#3 |
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I DONT KNOW IF I GAVE U ALL THE INFO A JUDGE SIGNED OFF ON THE PROPERTY TO GO UP FOR FORECLOSURE AUCTION, THE AUCTION WAS TODAY. ( IM JUST CONFUSED DUE TO THIS BEING SOLD AT THE FORCLOSURE SALE, (I KNOW WHEN THEY ARE BANK PROPERTIES , YOU ARE BUYING THE PROPERTY FREE AND CLEAR OF THAT MORTGAGE) SINCE J2 BUILDERS CONSTRUCTION COMPANY WAS THE PLANTIFFwhich had a lein ....... DOES J2 BUILDERS HAVE TO THE LEGAL RIGHT TO NOW TURN AOUND AND SELL THIS HOME SINCE IT WAS SOLD BACK TO HIM AT THE AUCTION FOR $100.00..... THE DEFENDANT IN THE CASE HAS A LAGE MORTGAGE ON THE HOUSE......... WHAT HAPPENS TO THE MORTGAGE SHE HAS ON THE HOUSE (CAN THEY BANK NOW COME AFTER J2 BUILDERS FOR THE MORTGAGE (IF THEY NOW OWN THE PROPERTY AFTER THE AUCTION....????
I HOPE I HAVE MADE THIS A LITTLE CLEARER THANKS FOR ANY HELP |
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#4 |
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THE COMPANY J2 BUILDERS Plantiff HAD A CONTRUCTION LEIN ON THE PROPERTY AGAINST THE OWNER OF THE PROPERTY DUE TO UNPAID BALANCE OF PAYMENT, AND TODAY THERE WAS A WEEKLEY FORCLOSURE SALE AT THE COURT HOUSE, THERE WAS SEVERAL OTHER FORECLOSURE SALES BUT THEY WERE BANKS, IM CURIOUS SINCE HIS HAD BEEN A CONSTRUCTION LEIN BUT SOLD AT THE SALE (TO HIM, (J2 BUILDERS). NO ONE BID ON THIS PROPERTY SO IT WENT TO HIM FOR $100... ( DOES THIS MEAN HE NOW OWNS THIS HOUSE)... IF SO WHAT HAPPENS TO THE MORTGAGE THAT THE DEFENDANT HAD ?
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#5 |
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he takes it subject to the mortgage...
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