can you mortgage a foreclosure

refinance mortgage loan rate The VA Streamline Refinance is also known as the Interest Rate Reduction Refinance Loan (IRRRL). The IRRRL allows you to refinance your current mortgage interest rate to a lower rate than you are.

If you have a second mortgage on your home and fall behind in payments, the second mortgage lender might or might not foreclose, depending on the value of your home.Read on to find out what happens if you stop making payments on a second mortgage and when that lender might decide to initiate a foreclosure.

You might be able to get a mortgage through the federal housing administration (fha) three years after the foreclosure is finalized. If you want to get a loan from Fannie Mae or Freddie Mac, you.

Foreclosure by a mortgage lender wipes out the HOA lien, but doesn’t resolve the debt itself. The HOA can legally pursue you for the debt after you no longer own the home, according to the California.

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Many Americans have stopped paying their mortgages and remain in their homes. by Carole. Your Turn: Can we fix the foreclosure mess?

Buying a Pre-Foreclosure Home – SmartAsset – Buying a Pre-Foreclosure Home If a pre-foreclosure home is for sale, you’ll see it listed as a pre-foreclosure property or short sale on real estate sites like Zillow. A short sale is a sale in which a homeowner in default sells a home to prevent foreclosure.

If you are facing reverse mortgage foreclosure, work with your loan servicer to resolve the situation. The servicer can connect you to a reverse mortgage foreclosure prevention counselor, who can work with you to set up a repayment plan. This counseling is free and can help you decide on the best course of action for you.

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It’s been six months since he has paid his mortgage. he received a foreclosure notice on the house. “When I came home, my son was in a panic and asked, Are we going to have to find a place to live.

(This may not be the same place you live). Choose. A foreclosure only destroys all junior mortgages if the junior mortgage was included in the.

That’s not as easy as it sounds – not when lenders may not agree to a jumbo loan for a second home or for a foreclosed or short-sale. Your loan provider can help you identify your mortgage loan and.

You can buy a foreclosure on a bank-loan property by locating and inspecting the property, securing financing and winning the bid.