Skip to main content

A Global Perspective Foreclosures! Team Thayer Real Estate #realestate #realtor #housing #market #oregon


For those in the mortgage and servicing industry, the foreclosure process, though different in every state can be simplified into a process that is familiar to all. But when discussing foreclosures in other countries, how are those processes similar to that of the U.S.?

The United States of America:
As it has been noted by The U.S. Department for Housing and Urban Development, foreclosure processes are different from state to state, but differences among states range from the notices that must be posted or mailed, redemption periods, and the scheduling and notices issued regarding the auctioning of the property. In general, it’s stated that mortgage companies start foreclosure processes about 3-6 months after the first missed mortgage payment. Late fees are charged after 10-15 days, however, most mortgage companies recognize that homeowners may be facing short-term financial hardships. After 30 days, the borrower is in default, and the foreclosure processes begin to accelerate. Three types of foreclosures may be initiated at this time: judicial, power of sale and strict foreclosure. All types of foreclosure require public notices to be issued and all parties to be notified regarding the proceedings. Once properties are sold through an auction, families have a small amount of time to find a new place to live and move out before the sheriff issues an eviction.
United Kingdom:
In the UK, foreclosure is a rarely used due to the fact that the mortgagor has no right to any surplus from the sale. Because of this, courts almost never allow foreclosures to take place but instead, usually grant an order for possession and an order for sale, which mitigates some of the harshness of the repossession by allowing the sale.
France:
Foreclosure in France is similar to that in the United States, but is a process that takes 3 years to complete, but this three-year estimate does not include the time taken during tactical delays that can be used to lengthen the foreclosure process.
Australia:
For Australia, since the Torrens title system of land registration is used for this country, being registered as proprietor or as a mortgagee creates an indefeasible interest, unless the acquisition of the registration was by land transfer fraud. The mortgagee therefore never holds the fee simple, and there is a statutory process for initiating and conducting a mortgagee sale in the event that the mortgagor defaults.
China:
Chinese law and mortgage practices have progressed with safeguards to prevent foreclosures as much as possible. These include mandatory secondary security, rescission otherwise known as Chinese Contract Law, and maintaining accounts at the lending bank to cover any defaults without prior notice to the borrower. It is possible for a mortgagee to sue on a note without foreclosing by obtaining a general judgment and collecting that judgment against other property of the mortgagor.
Click  link Below To Find Foreclosed Homes In Oregon


Team Thayer  www.teamthayer.com

Popular posts from this blog

UFC 227 play-by-play and live results #UFC #MMA #UFC227

LOS ANGELES – MMAjunkie is on scene and reporting live from today’s UFC 227 event, and you can join us for live play-by-play and official results beginning at 6:30 p.m. ET (3:30 p.m. PT). The event takes place at Staples Center in Los Angeles. The main card airs on pay-per-view following preliminary-card bouts on FX and UFC Fight Pass. In the main event, bantamweight champion T.J. Dillashaw (15-3 MMA, 11-3 UFC) rematches former champ and ex-teammate Cody Garbrandt (11-1 MMA, 6-1 UFC) for the title. In the co-feature, flyweight champion Demetrious Johnson (27-2-1 MMA, 15-1-1 UFC) has a rematch with Olympic gold medalist and former title challenger Henry Cejudo (12-2 MMA, 6-2 UFC). Follow along with our round-by-round updates and official results beginning at approximately 6:30 p.m. ET for the UFC Fight Pass prelims, 8 p.m. ET for the prelims on FX, and 10 p.m. ET for the main card on pay-per-view. To discuss the show, be sure to check out our  UFC 227 discussion thread...

Understanding the tax advantages and disadvantages of homeownership #realestate #taxadvantage #taxes #housing #market

It’s no secret that some of the major perks of homeownership are the tax write-offs and advantages that follow the purchase. In fact, according to a 2015 survey by the National Association of Realtors, 80% of homebuyers see homeownership as a good investment, and 43% think it’s better than investing in the stock market. Reaping the rewards of mortgage interest and property tax deductions is just one way to think of your home as an investment. But there are even more real estate–related tax advantages and disadvantages that can slip under a new homeowner’s radar. It can be relatively easy to trigger tax liabilities or perks (and then fail to claim them) on that new piece of  Eugene, Or, real estate . This is why it’s essential to touch base with your tax pro before every real estate transaction, no matter how minor a question you may have. Sometimes planning and timing make a major difference in the financial impact of a real estate–related tax; other times, ...

Team Thayer Real Estate House Flipping Traps! #flippinghouses #eugeneoregon #oregon #housing #market #realestate

If you’ve got several leads waiting to turn into potential deals, you can’t wait for one to suddenly come knocking at your door. Successful real estate house flippers have one trait in common: they place an emphasis on proper planning. Once you’ve secured a deal, you must decide what kind of rehab you will perform. Will you conduct a few simple cosmetic upgrades (like these  10 rehab projects you finish in one weekend )? Or, is the home nice enough to sell after  an easy prehab ? Are there structural damages that will require you to carry out more major renovations? Will you focus on implementing environmentally friendly renovations  – also known as “greenhabbing” – so that you  qualify for certain tax benefits ? Once you’ve determined your strategy, it is important to ask yourself these specific questions before diving into the construction action: What are the current market conditions in my area? What does my ideal buyer look like? Does my marketing cam...