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Debt Relief – Insolvency – Bankruptcy Information » Entries tagged with "happens"

What happens to a tax lien if the property goes on foreclosure?

Lets say the owner cannot pay the mortgage and house goes on foreclosure and there is a tax lien on the property. The property is worth less than what is owed, no equity. What happens to the tax lien? You mean the person that purchases the home is the one paying for the pending lien? … Read entire article »

Filed under: Foreclosure Help

If a life insurance company goes bankrupt, what happens to whole life insurance benefits?

My Dad purchased whole life insurance through AXA Equitable which is all paid for. What happens if the life insurance company goes bankrupt or their assets are under water like so many other financial institutions these days? Will the benefits still be payable? I also think it’s strange that he had to pay $700 more to this insurance company as an “adjustment”(?) recently even though the policy was fully paid for a long time ago. Is this normal? … Read entire article »

Filed under: Bankruptcy Info, Bankruptcy Law, Insolvency

What happens to the renters when the house goes into foreclosure?

My friend moved into a rental home a few weeks ago. Today she was out in her front yard and the neighbor told her that the owners are in the process of foreclosure. She was not aware when she signed the lease and also put down a damage deposit. ♦What will happen when the house gets auctioned? ♦What will happen to her damage deposit? ♦Is she S.O.L or what are her rights? … Read entire article »

Filed under: Foreclosure Help

What happens when you walk away from your home?

By Chris Taylor NEW YORK | Fri Jan 27, 2012 2:52pm EST (Reuters) – It was just last summer that Charlotte Perkins made the hardest decision of her life as she and her husband Jim were caught in the vise of the housing bust. Wanting to downsize their lives as they headed toward retirement, they bought a new house in Mesa, Arizona, before they sold the old one, also in Mesa. Their previous home had been appraised at nearly $400,000 at the height of the market, but as the housing crisis ravaged Arizona, they were told they’d be lucky to get $200,000 for it. They were carrying a loan of $260,000 on their original home alone, meaning they were well ‘underwater,’ owing much more than it was worth. Combined with the mortgage on the new house, their … Read entire article »

Filed under: Foreclosure Info, Mortgage Refinancing

What happens to stock if the company goes bankrupt but then comes back into business?

I have purchased some stock of CIT when it was $.30 . For about 3 months it went about and down in value and then eventually the company when bankrupt. Now its out of bankruptcy and the stock is work $29. I never sold or gave up my stock, so are they still something? … Read entire article »

Filed under: Bankruptcy Info

What happens to tenant if landlord is going through a foreclosure?

If tenant is in a 12 month lease and in month 4 the foreclosure proceedings begin, what happens to the tenant? Do they have to move out? How long does the process take? This is in CA. What about during the actual foreclosure proceedings? Will the bank start sending people over to tell tenant to move out or make them sign papers or get access or whatever? … Read entire article »

Filed under: Foreclosure Help

If a company goes bankrupt, what happens to the retired?

My grandfather used to work for an auto-company, and is able to survive because of the retirement checks and insurance from that company. If the company he used to work for goes bankrupt, will he still get the retirement check and insurance? Are these funds separate from the company? … Read entire article »

Filed under: Bankruptcy Info

Insurance Insolvencies: What Happens to Policyholders and the Marketplace?

James Thomas, President and CEO, Society Insurance A Mutual Company, explains: What are state guaranty funds? What happens to policyholders when a company becomes insolvent? How does a competitive marketplace help consumers? … Read entire article »

Filed under: Insolvency

What happens if a company goes bankrupt and you have credit cards?

If a company goes bankrupt, and you have a credit card with them, what happens? Does it clear or do you still owe the payments? Just curios.. … Read entire article »

Filed under: Bankruptcy Info

What happens after you consolidate a federal student loan?

When you include a Federal student loan into debt consolidation? What is the benefit of doing this? … Read entire article »

Filed under: Student Loan Help

What happens to my stock if a company goes bankrupt?

I own stock in a company that is facing bankruptcy. Will I lose my stock if the company is acquired by another company or will I lose my stock if they go bankrupt and do a reorganization settlement/agreement with their creditors? … Read entire article »

Filed under: Bankruptcy Info

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