How does an RGV Foreclosures work: An RGV foreclosure is where a homeowner or commercial property owner is deprived of the right to redeem his or her property after being unable to make principal and/or interest payments on his or her mortgage or otherwise fails to fulfill any of the obligations set forth in the mortgage agreement. The lender or bank can enforce its rights through a foreclosure. In this way the lenderin the Rio Grande Valley, be it a bank, Home Owner Association, or building society, can seize and sell the mortgaged property as stipulated in the terms of the mortgage contract using the proceeds of the sale to repay debt. The RGV foreclosures action is the actual filing of and carrying through of the foreclosure process.
When talking about RGV Foreclosures one should not forget the big picture. U.S. foreclosures in October were up 2% from the month prior, according to a new report from RealtyTrac Foreclosure starts — properties that began the foreclosure process — were up 2% as well but still down 34% from a year ago.
Read more: FORECLOSURES REPORT
What is an RGV Foreclosures
What is a Foreclosures –
Texas bankruptcy can still result in home foreclosure
On behalf of Rosenbaum Law Offices posted in Foreclosure on Sunday, November 10, 2013 A Chapter 7 bankruptcy typically releases a consumer from any future liabilities on debts owed. The bankruptcy process usually entails the sale of assets, if any of value are available. A bank may still foreclose on a home years later, even if it was included in a Texas bankruptcy filing.
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