Open Question: What does it mean when a house undergoes "foreclosure"?

Open Question: What does it mean when a house undergoes "foreclosure"?
I tried wikipedia but i am not sure i was able to absorb the gravity of the situation. Why does foreclosure occur and what are its implications? Thank you.
Source: _http

Open Question: How do I purchase and finance this foreclosure?
This question is actually for two people. My cousin and I are new condo owners. He bought his 2 months ago and I bought mine 2 years ago. The market being what it is around Boston, we thought we would jump on the chance to buy one investment property, do some upgrades, maybe rent it or hold for resale. Those places are dirt cheap (less than $90,000). It made sense until we thought about financing. Being new owners, will we be able to obtain a mortgage or personal loan for say up to $50-60,000? We don't want to co-sign for each other or get a co-signer because of future complications. Is there any way we can do these transactions financed? Special mortgage, loan etc… At this point, we don't have much equity in our houses so tapping into that would also be a no-go. Thanks.
Source: _http

Open Question: In foreclosure can I take the kitchen cupboards if I replace them with other cupboards
I want to take my kitchen cupboards and counters from my foreclosure house. I bought a new house and paid cash for it and it has cupboards in it that I don't like. Can I switch them out and put them in my old house and bring my cabinets from my old house to the new one
Source: _http

Open Question: can a lender add old attorney fees to my foreclosure cost from a closed bankruptcy case

Source: _http

Open Question: If a property is in an open bankruptcy, will sale of property benefit owner or all money go to bankruptcy?
I want to buy a small lot in a resort. The resort filed foreclosure for non-payment of dues not knowing (or checking to see), property has a mortgage. Currently deed is in resorts' name, meanwhile, owner of property has filed bankruptcy. If I buy property from owner, will any amt. over loan balance go to bankruptcy or to property owner? Or, can I even legally buy this property? Is there a way to find loan balance since bank can't give out info. due to privacy laws?
Source: _http

Open Question: what exactly is deed in lieu of foreclosure??

Source: _http

Tags: home equity loan, foreclosure