Do you need to vacate your property during a FORECLOSURE?

  • May 13, 2014
  • Posted by: admin
  • Categories: Foreclosure, Real Estate Post
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Navigating Foreclosure: What Homeowners Need to Know

Are you or someone you know facing foreclosure? Understanding your rights and responsibilities during this challenging process is crucial to protect yourself from unexpected legal and financial consequences.

SEARCH PROPERTY RECORDS

The Hidden Danger of Incomplete Foreclosures

In some states, banks may demand that homeowners vacate their properties but fail to complete the title transfer process. This dangerous situation leaves former homeowners legally responsible for:

  • Property damage
  • Homeowners association dues
  • Potential lawsuits from associations seeking payment
  • Attorney’s fees and additional costs

Protect Yourself During Foreclosure

Before surrendering your property, ensure that the title is properly transferred out of your name. In states like Arizona, homeowners may also be responsible for:

  • Reimbursing the Association for all attorney’s fees
  • Covering collection costs
  • Paying interest at rates specified in your CC&Rs (Declaration of Covenants, Conditions & Restrictions)

How to Verify Property Ownership

You can confirm who currently holds a property title through several methods:

  1. Contact a local title company to request a preliminary title search
    • May take 3-4 days for results
    • Can cost several hundred dollars without established connections
  2. Use online Title Search services for faster results
    • View current ownership and title status
    • Access information about tax liens, judgments, and bankruptcies
    • Check foreclosure activity and mortgage information

Reliable online Property Records or Title Search companies typically maintain current records by connecting directly to county recorder’s offices, updating information as official records are revised.

Understanding the Foreclosure Landscape

Foreclosures have impacted homeownership across the United States since the real estate crash of 2006-2007. As foreclosures continue to occur in waves, navigating the aftermath becomes increasingly complex.

Lien and property records are available for public viewing at county recorder’s offices in each state. Online Property Records/Title Search websites can provide quick access to deed information and current title holders.

These resources allow you to check a property’s foreclosure status, including:

Take the time to research the specific rules in your state to protect your financial future during the foreclosure process.

Real Estate Title Search Services
U.S. Title Records

https://www.UsTitleRecords.com

https://www.UsTitleRecords.org

https://www.UsRealEstateData.net[/vc_column_text]

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