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ESTAPLACE.COM REAL ESTATE - FREE LISTING SERVICE -
is an accommodation and real estate directory, where real estate property owners or real estate agencies connect with vacationers and home buyers worldwide. If you are a seller, you can add listings in few seconds, and if you are a buyer you can search listings to find your dream property!
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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 9 Aug 2005 13:30:25 -0700
/ Author of the message: kuacou241@yahoo.com |
Title of the message: |
Re: 2nd mortgage and bankruptcy
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Text of the message: |
You should not rely on a ng for advice of this sort. But here is some general guidance. 1. When a first mortgagee repossesses a property and it is auctioned, it is generally sold free of liens (tax liens may be paid off or will be obvious in the sale). 2. A lien is said to be "under water" when the property value is less than the total of liens. The bankrupt will (absent fraud, bad faith, etc.) wipe out his/her liability on the debt. (If s/he reaffirms the debt, or otherwise keeps the house, under certain circumstances the mortgagee may benefit from the increase in value -- but not if the property is sold. See #3 below.) 3. The stripping of liens can be quite complicated. Here are some cases on that: http://www.doney.net/cases/ 4. Buying title insurance will assure you that you are getting what you are paying for. 5. County clerks are not lawyers and do not give legal advice. They |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.