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What is the difference between pre foreclosure and foreclosure?

Anonymous

∙ 14y ago

Updated: 9/19/2023

Pre-foreclosures occur when homeowners are in arrears on their mortgage payments. The pre-foreclosure period is, in effect, a grace period warning a homeowner that foreclosure is the next step if the mortgage is not caught up.

Foreclosure is the legal process by which a mortgagee, or other lien holder, usually a lender, obtains a court ordered termination of a mortgagor's equitable right of redemption.

Wiki User

∙ 14y ago

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Q: What is the difference between pre foreclosure and foreclosure?

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What is first preforeclosure or foreclosure?

Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.

What is the difference between a foreclosure and short sale?

A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.

What is a pre foreclosure?

A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.

What is a pre foreclosure home?

A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.

Is the property at 119 amherst lane in Sebastian Florida in foreclosure?

Is this property in pre-foreclosure or just foreclosure May I please get all the details on this property

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Related Questions

What is the difference between preclosure and foreclosure?

Be aware that a pre-foreclosure property is not necessarily for sale. The pre-foreclosure stage is the period between the time in which a Notice of Default (in non-judicial foreclosure) or lis pendens (in judicial foreclosure) has been issued to the homeowner and after the property is sold at a foreclosure auction.

What is the difference between a tax foreclosure auction and a bank foreclosure auction?

One is done by the IRS, and the other is done by your bank.

Can you save a property in pre-foreclosure?

I'm pre-foreclosure. .complain under rule 1.110 (b) was amended to requiere the verification of residencial mortgage foreclosure. The foreclosure involves my primary residence and is not verified

What is first preforeclosure or foreclosure?

Pre-Foreclosure is a term the banks use internally to track the property's status. Essentially, what it means is that the home has already gone into default and a Notice of Default has been recorded. Pre-foreclosure is the time between the NOD filing and the Filing of the Notice of Trustee Sale.

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What is the difference between a comperhensive pre-trial oppose to pre-trial conference for civil court?

What is the difference between a foreclosure and short sale?

A foreclosure is the surrender of the property to the lien holder for nonpayment of the debt. A short sale is the sale of the property before the completion of the foreclosure in an attempt by the home buyer and the lender to avoid foreclosure proceedings.

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What is a pre foreclosure?

A pre-foreclosure property has a delinquent loan and the owner is in imminent danger of losing his home due to foreclosure. His property has been listed as delinquent and will soon be taken into the custody of the lender. Buyers may be able to obtain a pre-foreclosure for 40 percent less than the home's market value, and the deal would close quicker than would a foreclosure.

What is a pre foreclosure home?

A pre-foreclosure home is a home in which the owner is in immediate danger of losing their home, possibly due to unpaid loans or mortgages, but has not lost it yet.

Is the property at 119 amherst lane in Sebastian Florida in foreclosure?

Is this property in pre-foreclosure or just foreclosure May I please get all the details on this property

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What is the difference between an auto injector and a pre filled syringe?

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