How long does it usually take to guarantee foreclosure?

It usually takes a month to guarantee foreclosure. Under normal circumstances, most banks have to apply in writing one month in advance before they can take out the real estate license one week from the date of payment, but some banks will take shorter time to apply, and some will take longer to get the property, even if it is different branches of the same bank.

What is the process of foreclosure?

1. Sign the agreement. The seller signs a guarantee agreement with the guarantee company to provide foreclosure information;

2. The seller borrows money. The seller applies for short-term loan funds from the buyer's loan bank;

3. commission. The seller entrusts the guarantee company or its designated personnel to handle notarization;

4. Apply for mortgage loan. The buyer provides relevant information to apply for mortgage from the bank;

5. Pay the down payment. After the down payment is supervised by the bank, the bank will issue a letter of commitment to the guarantee company;

6. Issue a letter of guarantee. The guarantee company pays the guarantee fee after examination and approval, and the guarantee company issues a letter of guarantee to the bank;

7. Redeem the building. The bank lends money to the guarantee company, which redeems the building for the owner;

8. transfer. Redeem the real estate license and go through the transfer formalities at the Land and Resources Bureau;

9. Mortgage loan. After issuing the certificate, the buyer obtains the certificate as collateral;

10, published. After the mortgage is delivered, the bank loan offsets the seller's loan, and the excess is credited to the seller's account. The guarantee company cancels the guarantee and the work is completed.

What is a foreclosure loan?

Redemption is a process in which the seller redeems the real estate license by paying the final payment in advance in order to sell the house with outstanding mortgage. Mortgage is a way for the seller to redeem the real estate license and sell it to the buyer, and the buyer pays off the house price through the loan.

Redemption is a university question. There are many ways to redeem a building. For example, the cash redemption of buildings involves sellers and buyers. The foreclosure of a guarantee company is divided into one-time foreclosure and two-time foreclosure. Different redemption methods have different costs and risks.

The way for buyers to redeem the building in cash is the most risky, and there may be problems such as the owner losing his donation due to debt problems, or the owner being involved in litigation and the property being seized. Now the guarantee company also has a way to redeem the house. In fact, it is wise to transfer the foreclosure risk to the guarantee company, that is, buyers can redeem their houses through the guarantee company.