Tag Archives: foreclosure laws
Georgia Foreclosure Laws
In accordance with Georgia foreclosure laws, mortgage lenders have access to both judicial and non-judicial foreclosure proceedings for mortgages and deeds of trusts defaults. Judicial foreclosures involve the filing of a lawsuit by the lender in the county court. By law, the court must approve all judicial home foreclosures when mortgage documents do not contain [...]
Pennsylvania Foreclosure Laws
The Commonwealth of Pennsylvania foreclosure laws falls under the judicial foreclosure process. State codes require mortgage lenders to send a notice to the borrower before filing for foreclosure. Foreclosure filings take place in the county of the property’s location. Foreclosure laws require homeowners to have mortgage payments at least 60 days delinquent before a lender [...]
Michigan Foreclosure Laws
Michigan foreclosure laws permit lenders to file for for judicial and non-judicial foreclosures on mortgages or deeds of trusts. Under judicial foreclosures in Michigan, the court gives the borrower a short time to pay the debt. If the borrower cannot pay the obligation during the allotted period time, the court issues a notice of sale [...]
Ohio Foreclosure Laws
As a judicial foreclosure state, Ohio foreclosure laws require mortgage lenders to file a lawsuit to foreclose against borrowers who have delinquent mortgages in the county court. The foreclosures process begins with the lender’s attorney filing a notice of foreclosure in the county court of the property’s location. Usually, the lender sends the borrower a [...]
Florida Foreclosure Laws
Florida foreclosure laws make it a judicial state. This means that all foreclosures require filings and appearances in the state’s court system. The Florida foreclosure process begins when the mortgage lender files a document called a Lis Pendens against the borrower and other parties legally required to receive notice. Florida foreclosure laws do not require [...]
North Carolina Foreclosure Laws
North Carolina foreclosure laws allow for non-judicial and judicial foreclosures. The judicial foreclosure process requires mortgage lenders to file a lawsuit in court to foreclose on the property. Non-judicial foreclosures necessitate that the borrower’s mortgage or deed of trust documents contain a power of sale provision, which gives the lender pre-approval to sell the home [...]
Tax Foreclosures – Investing in Tax Deeds Government Foreclosures
Tax foreclosures refer to one of several types of government foreclosures. Sometimes called tax deeds or tax liens, county, state or federal governmental entities attach tax liens on residential or commercial properties for non-payment of taxes. Tax foreclosures occur when the courts orders the sale of real estate with tax liens.Tax foreclosures may be one [...]
Florida Foreclosed Properties Investors – Faulty Paperwork Can Cost You
Florida foreclosed properties investors who are ignorant of the laws pertaining to buying foreclosure properties could receive a $15,000 fine for each violation. In 2007, the state ranked second to Nevada for legal filings related to Florida foreclosed properties– over 279,000 foreclosure filings, on more than 165,200 home owners. During the same year, Florida also [...]
The California Foreclosure Process
Judicial Foreclosure Lenders must follow the judicial foreclosure process when: 1) the mortgage or trust deed does not contain a power of sale clause; or 2) the lender plans to file a lawsuit for a deficiency judgment against the debtor. The process starts when the lender files a foreclosure lawsuit against the borrower. Mortgage lenders [...]