Refinancing Home Mortgage
In: Mortgage Lenders
21 May 2010mortgage lenders can foreclose against a homeowner in default on a primary residence 90 days after a bankruptcy filing
http://www.chron.com/disp/story.mpl/politics/5566705.html
what is the 90 day part?
This is about mortgage information questions.
3 Responses to Foreclosure–what does this mean?
Koenig
May 21st, 2010 at 3:09 am
The mortgage company takes back the house because the owner stops making the payments (defaults). The house is the asset that secured the loan (mortgage).
Moonwake
May 21st, 2010 at 3:55 am
Koenig is right!
SusanInMichigan
May 21st, 2010 at 4:52 am
Yes, correct: you will be given a certain time frame, called the right to redeem your property before they actually kick you out and it depends on what State you reside in