My father owes $103,487 and the average home value is $108,000. No equity in the home. Heirs are unable to become the successor.

answered on Aug 15, 2018
If there is little or no equity in estate owned property and the lender is willing to accept a deed-in-lieu of foreclosure, then yes, a Personal Representative has authority to sign such a deed. Whether or not a deed in lieu can be done depends on the willingness of a lender.
Note that if... Read more »
As a real estate investor, I target tax delinquent properties. those who are behind on their property taxes. From what I know there is a default time where the home owner goes behind on the property taxes and then I believe it goes to auction and you have to bid for them? I want to pursue the... Read more »

answered on Jul 27, 2018
You essentially ask about tax sales. Each county has different dates and specific process for the sales/bidding, but in Maryland if the taxes are ~6 months or so past due, the county holds an auction. The county will advertise the auction in advance. The property owner can pay up the taxes, in... Read more »
I am trying to avoid forclosure. The house is now on the market and there has not been any interest. I do not want to be a landlord living in another state. But, I definitely do not want to property for forclose. What are other options in the State of Maryland.

answered on May 14, 2018
A house only goes into foreclosure if the mortgage isn't paid. As long as the owner pays the mortgage, foreclosure should not be a concern, regardless of where the owner lives.
Practically, though, if an owner doesn't have enough money to pay the mortgage if they move elsewhere,... Read more »

answered on Feb 5, 2018
I thought I answered this a few hours ago. The law had not changed since 5:00 pm as far as I know.

answered on Feb 5, 2018
I thought I answered this a few hours ago. The law had not changed since 5:00 pm as far as I know.
When she was diagnosed with Alzheimers a lawyer advised us to change her house to the children's names even though she had a mortgage so that if she was put in a nursing home they could not take it. She has since passed and the home was foreclosed on. The sale of the home did not cover all... Read more »

answered on Sep 18, 2017
Generally speaking only the borrower(s) who signed is/are personally responsible for debt, although obviously the lienholder / mortgage company has rights to take back the property if the loan isn't paid. At times, however, relatives "assume" a mortgage, in which case they step in... Read more »
I do not know who lives there, whether they were renting from previous owner or they were the previous owners.

answered on Apr 23, 2017
You can still evict them. I would first attempt to evict "the owner and all occupants" using a forcible/entry and detainer action. If the person living on the property ends up being the former owner then congratulations! If the person living on the property is not the former owner,... Read more »

answered on Jan 28, 2017
Yes, generally the owner of the property can continue to use the property or rent it out until it is sold at foreclosure. The law gives certain rights to a tenant under a bona fide lease - if the bank buys back the property a tenant may have the right to continuing living there and paying rent to... Read more »

answered on Oct 30, 2014
Until the foreclosure sale, the owner can attempt to sell. Of course, the sale is subject tot he costs and expense of the mortgage. But it remains the best option for realizing full value. But since foreclosure cases are public records, many know that the auction sale will be less expensive.
my father passed away as the mortgagee i am listed as a tenant in common and we are paying the mortgage currently however that situation could change

answered on Sep 5, 2014
The Personal Representative of the Estate stands in your father's shoes. If no estate was opened, it is likely the mortgage company will force the opening of the Estate. You would need to open the estate, anyway, in order to inherit his interest.

answered on May 31, 2012
What do you mean by "recordation?" At some point, the Trustee that conducted the foreclosure may deed the property to either the bank or a third-party purchaser.

answered on Apr 23, 2012
When a mortgage or "Deed of Trust" gets filed, it lists the name of an attorney who acts as "Trustee," basically this person holds the rights to sell the property if the borrower doesn't pay. The right lasts for so long as the mortgage debt remains but the Trustee can be... Read more »

answered on Apr 23, 2012
There are two key dates: first the date of the auction and second the date when the judge approves or "ratifies" the sale. While the new owner "buys" at the auction (and must tender the deposit on that date), the sale isn't finalized until the ratification.
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