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 ...
Where Are The Funds Recovered From
The Equitable Admin Recovery Process for a promissory note or security involves constitutional due process and the Depository Trust Company (DTC) or the Depository Trust and Clearing Corporation (DTCC) for commercial real estate funds. Prior to state ...
When Is The Overage Created For Tax Lien And Tax Deed States
In tax lien and tax deed states which have a redemption period, the overage is created only after the redemption period expires.