U.S. Department Of Housing And Urban Development (HUD)
Having a safe, decent and affordable place to live allows people to put down roots and communities to grow strong. Generally, strict foreclosures take place only when the debt amount is greater than the value of the property. When there is a Section 8 tenancy, the owner who is an immediate successor in interest at foreclosure takes subject to the Section 8 voucher lease and the Section 8 Housing Assistance Payments (HAP) contract. In the case of foreclosure, the mortgage company retains all rights to proceeds from a sale or auction. Barkley found out the truth when a man on a motorcycle came to paste a notice from her mortgage lender on the door warning of foreclosure.
However, there are also indicators that lenders are increasingly turning to deeds in lieu of foreclosure and short sales as alternatives to traditional foreclosures. Consider finding a real estate agent with connections in …