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Caption: Lawrence and Delois Braggs are battling eviction after Losing their home at 15621 Sorrells Road in west Little Rock in a June foreclosure sale.
Aside from the alternative FIRPTA withholding and notice requirements, the transferor or transferee in a foreclosure sale may file a Form 8288-B, Application for Withholding Certificate for Dispositions by Foreign Persons of U.
Since the loan servicer was a participant in the HAMP program, it was barred from scheduling a foreclosure sale during the HAMP process.
The difference between the Borrower's appraisal of $475,000 and the foreclosure sale price of $400,000 was 16%.
Recovered from John Nock and Hank Broyles at December 2010 foreclosure sales of $910,000 and $320,000.
In the event the lender is the successful bidder at the foreclosure sale, the buyer would take an assignment of the lender's successful bid, thereby acquiring the fee simple title to the property.
However, a foreclosure sale may not necessarily be a sale between a willing buyer and a willing seller.
In addition, some taxpayers are now seeing the result of years of bad tax shelter investments in the form of debt relief income and gains from foreclosure sales.
During the three-month suspension, effective June 17 through September 17, 2010, borrowers with first mortgage loans owned by CitiMortgage and who meet certain other criteria will not be subject to foreclosure sales or foreclosure notifications.
Centennial claims the fair market value of the property at the date of foreclosure sale was $14.
A commercial property in southeast Pulaski County drew a $489,339 foreclosure sale.
Under the PTFA, the purchaser at the foreclosure sale must serve all bona fide tenants with a Notice to Vacate of at least 90 days duration.
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