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    dineygirl1942's Avatar
    dineygirl1942 Posts: 4, Reputation: 2
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    #1

    Oct 29, 2007, 02:08 PM
    Foreclosure on home
    I am letting the bank foreclose on a vacant home. Do I have to keept the utilities turned so so the pipes won't freeze? Also, do I have to keep up the insurance until the bank officially takes it back?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Oct 29, 2007, 02:11 PM
    Yes and yes. How much do you owe and are you 100% sure than the bank can get more than that amount at auction? If they sell and come up short you are not off the hook. They can/will come to you for the difference. Why not try to sell on your own?
    tkemp's Avatar
    tkemp Posts: 4, Reputation: 1
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    #3

    Oct 30, 2007, 06:44 AM
    Quote Originally Posted by dineygirl1942
    I am letting the bank foreclose on a vacant home. Do I have to keept the utilities turned so so the pipes won't freeze? Also, do I have to keep up the insurance until the bank officially takes it back?
    How long does it take for a house to go into foreclosure
    tkemp's Avatar
    tkemp Posts: 4, Reputation: 1
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    #4

    Oct 30, 2007, 06:47 AM
    :rolleyes: :p :) ;) :confused:
    dineygirl1942's Avatar
    dineygirl1942 Posts: 4, Reputation: 2
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    #5

    Oct 30, 2007, 07:17 AM
    I have heard maybe 6 months but I don't know. I have never been in this situation before.
    tkemp's Avatar
    tkemp Posts: 4, Reputation: 1
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    #6

    Oct 30, 2007, 08:23 AM
    If a person have 4 houses and behind 3 months on the mortgage payments. Do u think the house's would go into foreclosure and if so what would u suggest a person do? And what would u suggest the people living in these houses do?
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