Foreclosure in Evanston : Advice

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Michael Thom…, Real Estate Pro in Evanston, IL
Michael Thomas answered:
What happens if my home becomes an REO and it does not sell?
The bank will not hold the property for an extended period of time. They will sell it, whether it's thru the residential retail market, to an investor or at auction. Price will ov ... more
0 votes Share Flag Mon Feb 22, 2010 Foreclosure in Evanston
Eric, Real Estate Pro in Los Angeles, CA
Eric answered:
can a landlord whose property is in foreclosure give someone a 10 day notice, he stopped paying his insurance?
I hate to give general answers on here, but

A. It depends on the term of your lease
B. Depends on the state and county and city laws

That being said, unless you are completely i ... more
0 votes Share Flag Sun Jan 31, 2010 Foreclosure in Evanston
Peter Thomps…, Real Estate Pro in Naperville, IL
Peter Thompson Mortgage Professional answered:
Are residential mortgage loans on a recourse or non-recourse basis?
Your normal residential mortgage is non-recourse. This means the debt is secured by the collateral in the property you are buying, and if you default on the loan the lender will take ba ... more
0 votes Share Flag Fri Oct 4, 2013 Foreclosure in Evanston
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