Virginia Mortgage Lender

Ruby Said:

Can the lender go after the buyer after a Foreclosure in VA?

We Answered:

if the bank takes your home and sells it for 200,000 and you owe 300,000, , yes they can and in all probability will come sue you for the difference. In the event they don't, (i would be surprised) you will get a 1099 for the 100,000 and you will owe fed and state tax on that amount. I hope you get it worked out

Alvin Said:

How do you find out who the lender is for my home in VA. I am renting & my landlord is going thru foreclosure?

We Answered:

You can look on your county property appraiser's website for that information. It usually will list the lender.

However, it is illegal to rent a homethat is in foreclosure without notifying the tenant. You have rights under tenant-landlord law and under the freedom of information act---call or go down to the property appraiser's office and I am pretty darn sure they will cough up the info for you.

This exact thing happened to me....a Remax property manager in FL rented me a home that was already in foreclosure without telling me. I actually got served papers about a month after I moved in---the server thought I was the owner. I contacted the lender and got to live there rent-free until the foreclosure went to court--about 8 months. The owners were in big trouble: not only were they in default on their payments, they were also Canadian nationals claiming homestead on the FL property...how 'bout that? Slimey dogs! I also got every penny back from the management company, Remax, plus they had to pay for all my moving expenses.....coming and going.

I saved all that rent money and purchased my first house with it.

****The other two answerers are wrong---you can get the lender's contact information--I do it all the time when checking owner info and researching property liens for my husband's general contracting business. The lender is not obligated to discuss the loan particulars with you but they will tell you what the status is.

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