There is a reason Jamie Bland and 1st Rate Real Estate are the #1 real estate sellers in Marshall County...expercience, skill and professionalism. Need local real estate information? We've summarized much of what is important about the Marshalltown, Marshall County and Gladbook real estate market in this site. Need expert advice? No web site, large or small, can take the place of a top REALTOR®. Not even ours! This site is filled with ways that you can contact us for one-on-one expert help and advice. That's our job. Contact us with confidence! We guarantee your privacy will be respected. And we offer the services on this site for free and without obligation. Why? We want to be YOUR REALTORS®. As your trusted, professional real estate partners, we will help you find the best home in your area within your price range. And together we will sell your home, for as much as the market will bear, and as quickly as possible. Buying and selling a home is one of the biggest events in your life. As top Marshalltown, Marshall County and Gladbook REALTORS®, we have the experience and track record you are looking for. Please let us help. We specialize in residential, relocation, forclosures, acreages/farms, and commercial!  |
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Foreclosures >5. What Happens During the Foreclosure
- Missed payments. The first sign that foreclosure is coming is when a homeowner gets behind on their house payments. Lenders usually understand if a homeowner falls behind on one or two payments and will offer repayment plans so the homeowner can get back on track. However, if they don’t, the foreclosure process will continue.
- Lender notices. After a homeowner misses payments, the lender will get in contact with them either by mail or phone. (The timeframe depends on the lender.) The lender will most likely want to avoid foreclosure as much as the homeowner, so this dialogue can benefit the homeowner in finding alternatives to foreclosure.
- Options are discussed. The homeowner and the lender can brainstorm ideas on how to rectify the situation. If the homeowner and the lender can come to an agreement on payments to get the mortgage back on track, the situation is resolved and foreclosure is avoided.
- Foreclosure filing. If there is no solution to the process, the lender will begin filing a lawsuit to foreclose on the home. This brings the question of foreclosure before a judge. During this process, a title search must occur to make sure if the lender is permitted to foreclose and is not engaging in unjustified foreclosure. In some jurisdictions, court-ordered mediation must take place between the lender and the borrower after the borrower is served with the foreclosure suit, but before the final foreclosure decision, as a last-ditch effort to avoid foreclosure.
- The home is foreclosed on. The lender resumes all rights and responsibilities of the property. The previous homeowner no longer owns the home.
- Foreclosure auction. Usually, the house will then go to a foreclosure auction to be sold. In order to get rid of the home fast, the lender can sell the home at a lower price.
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| Q |
What is the world's oldest wooden structure?
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| A |
The oldest wooden buildings are the Pagoda, Chumanar Gate and Temple of Horyu in Nara, Japan, dating from A.D. 670.
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