Can Mortgage Payments Be Recovered After X Months / Years
The ability to reclaim
the funds paid into the home’s principal balance is possible depending on the escheat
laws of the state. All states have a time limit before funds turn back to the
state itself and this is covered inside the Foreclosure Secrets program.
Related Articles
Is The Period For Claiming Funds Limited
The time period (time limit) depends on the state. There are some states that allow up to a decade for the funds to be claimed. Most often, these excess funds are with the trustee or court for 12 months and then they go to the state. Check the ...
After A Mortgage Foreclosure - How Long Are The Excess Funds Available
This depends on the state (see 50 States Guide in Member's Area). Usually excess funds are held with the trustee or court for 12 months and then they go to the state.
Can A HELOC Reduce The Monthly Minimum Payments
Yes, it can reduce the monthly minimum payments and as time goes on the monthly minimums will continue to decrease as the principal balance is lowered. In fact, most HELOCs only charge an interest-only payment that is typically much less than a ...
What Happens To The Note When Refinanced During Recovery
If a person has a note sent for satisfaction on LOAN #1, then they refinance into LOAN #2 during the recovery period (~12 months), the funds will simply be applied towards the current note, NOTE #2. That same person will also be able to recover NOTE ...
Does Mortgage Recovery Secrets Work Outside of the USA
Mortgage Recovery Secrets is only applicable to US residents who have a Social Security Number. This gives them the right to the equitable action to reclaim the funds from the Promissory Note.