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Contacting the owner or trustee and making an offer

By | Published: Jul 28, 2010 | 67 Comments

Depending on the stage of the foreclosure process, you may need to contact the homeowner, trustee, or lender to make an offer and purchase the property. Review the tips below to find out whom to contact at each stage of the foreclosure process and how to make an offer.

Contacting the Owner or Trustee

Depending on the property status, the seller will be the owner in default, the trustee or the foreclosing lender.

Buying a property in pre-foreclosure involves approaching the borrower/owner and offering to buy the property. The borrower/owner can walk away with something to show for any equity in the property and avoid a bad mark on his or her credit history. The buyer has time to research the title and condition of the property and can realize discounts of 20 percent to 40 percent below market value.

If the loan is not reinstated by the end of the pre-foreclosure period, potential buyers can bid on the property at a public auction. Buyers often are required to pay in cash at the auction and may not have much time to research the title and condition of the property beforehand; however, a public auction offers some of the best bargains and avoids the unpredictability of dealing directly with the borrower/owner.

If the lender or government agency takes ownership of the property, either through an agreement with the owner during pre-foreclosure or at the public auction, the lender usually sells the property to recover the unpaid loan amount. The lender typically clears the title for any buyer, but the potential bargain is often less than a pre-foreclosure or auction property.

Pre-Foreclosure: Contact Owner

When a property is in pre-foreclosure (Notice of Default, Lis Pendens), the owner still has a chance to stop the foreclosure process by paying off what is owed or by selling the property. The pre-foreclosure period can last several months, so you may need to be patient when trying to contact the owner in default.

The first step is to call the trustee or attorney to confirm if the property is still in foreclosure. The trustee or attorney has the most up-to-date information if the owner has sold or reinstated the property. The trustee or attorney cannot answer other questions about the property.

If you haven't done it already, you'll want to evaluate the property's value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment.

If the trustee confirms the property is still in foreclosure, and you believe the property could be a wise investment, you should contact the owner in default as soon as possible.

One option is to send the owner a postcard to express an interest in buying the property. If the owner does not respond to a postcard, then you can try to send another postcard (the owner may have a change of heart as the end of the pre-foreclosure period approaches) or you can wait to see if the property is scheduled for auction and attend the auction.

Another option is to call the owner if you can track down the phone number. Or, you could go to the property and try to contact the owner in person, as long as you recognize the ownership rights of the owner. We don't recommend either of these options if you don't have previous experience.

Auctions: Contact Trustee

Before the auction, you may have a chance to work out a last-minute deal with the owner in default. Usually a property is scheduled for auction just a few weeks before the auction occurs, so you may have to move quickly if you want to contact the owner.

Auctions can be postponed or canceled anytime so it's always a good idea to contact the trustee or attorney to confirm. We recommend you call when you first locate the property and again the day before the property is scheduled for auction. The trustee/attorney has the most up-to-date information if the auction has been canceled or postponed. The trustee/attorney cannot answer other questions about the property.

If you haven't done it already, you'll want to evaluate the property's value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment.

If you believe the property could be a wise investment, you can attend the auction to bid on the property. You can usually get the auction date, time, location and opening bid from the trustee or attorney. If you've never bought at auction before, we recommend you attend several auctions just to observe before you attend an auction to bid.

Bank-Owned Properties: Contact Owner

If the property is Bank Owned (Real Estate Owned), your first step is to contact the lender. You should contact the lender directly and ask for their REO or asset management department to find out how you can view and possibly make an offer on the property. REO means "Real Estate Owned" by the lender. It's another way to say the property has gone through the foreclosure process and has now been repossessed by the foreclosing lender.

If you haven't done it already, you'll want to evaluate the property's value and check for any additional loans or liens encumbering the property so that you can make an informed decision about whether the property is a wise investment.

You can contact the lender through a local real estate agent or find out the owner's name and mailing address through the local property assessor. Since the property is bank owned, the property assessor should have the bank or lender listed as the owner. Go to statelocalgov.net to find the local property assessor in your area.

Make an Offer

If you have never purchased a foreclosure property before, we recommend that you have a real estate agent help you prepare and make an offer. To get an estimate of the potential bargain for any property, you need to find out the estimated market value of the property, how much is owed on the property and if the owner has any other loans or liens encumbering the property. Based on your research of the potential bargain, you can make an offer. Usually the offer amount is somewhere below the market value but above the total outstanding liens and estimated repair costs. If the property is a pre-foreclosure or bank owned, you could prepare an offer similar to a typical purchase offer, contingent on a full inspection and title search.

If the property is selling at auction, you will need to make your offer, or bid, at the auction. In many states, bidders are required to pay in cash in the form of a cashier's check at the auction. You probably won't be able to conduct a full inspection and title search when you buy at an auction, so it's important to do careful research before attending an auction.


By Mia,  Sat Sep 18 2010, 09:41
Why is it that agents or realestate broker companys never give you the info on how much the maintainence or common charges are for any property for sale. Some of these homes or condos have very or too high a hoa to even bother to purchase.
By Trish,  Wed Oct 6 2010, 11:34
Maybe this is why so many homes aren't being sold. The banks and realtors are trying to manipulate way too much in the market.
By John Walin,  Wed Oct 27 2010, 21:40
watch out for the special assessment or back due assement, that follows the buyer! some of these foreclosures have back HOA's that price it out of the range your looking for. due diligence is the key,,,
By Joe Ross,  Sun Mar 25 2012, 12:08
Exactly right. I'm interested in a couple of these properties, but I can't get any info on them. You're trying to sell something to ME, right? Why would you expect me to pay to LOOK at your product? For people that are supposed to be real estate "professionals" you guys have no clue how to sell anything.
By Kenneth Rose,  Tue May 1 2012, 05:40
Im glad I am not the only one with the same feeling. I feel like I am being wripped off by needing to pay to find out about the home. How can you trust a listing like that. The auction or property could be sold and you wasted money. If you were really selling the house, you would make the money off of selling the home, not nickel and diming people looking for a house. I know I am taking my money somewhere else.
By Bdb,  Mon May 21 2012, 10:37
They dont tell you either about all the problems that are wrong with the properties, like at 5901 Dr Martin Luther King Jr St N, where there are leaks and holes in the ceiling, the roof needs replaced, outdated wiring needs to be up to code, needs new flooring, needs new porch ceiling, overhangs and gutters are falling apart from termites, laundry room needs redone from leaking washer, all windows need replaced. That house was built in 1950's and pretty much everything is original...I wouldnt pay 10,000 for that house.
By Matie,  Tue Jun 5 2012, 03:14
free foreclosure consultations and the biggest agent data-base whole over the US http://www.indexpost.com/agents/ You can find realtor by name or email, brokerage firm he(she) work for and Zip code where realty is located.
By Terrence Gay,  Wed Jun 6 2012, 17:40
The buyer needs to look at each property before buying. Foreclosed properties don't follow the same disclosure rules that mainstream home sellers must disclose. That's why you get them cheap. Most are good deals at the price they will accept, but some are known by everyone as POS. You know what that means, but there are investors who will either buy and fix them up or demo the house and sell the lot. It is definitely caveat emptor - Let the buyer beware. If you are unsure hire a professional engineer and pay him or her the $250 or $300 and get an expert's evaluation. One more thing, quit whining.
By Linda Schulte,  Thu Jun 21 2012, 16:43
Most of these are not listed with an agent. Trulia is just pulling info from the public records showing what homes are in the process of foreclosures. Use a licensed real estate agent if you really want to buy a house.
By Rich D'Alessio,  Thu Jun 28 2012, 10:10
These homes are not actively listed for sale by the banks. As Linda pointed out, trulia is gathering information from public tax records. When a lender files a complaint in mortgage foreclosure, it is recorded with the county court house. This in turn becomes public record. Every home that has had a complaint in mortgage foreclosure does not necessarily mean it is for sale as a foreclosure. When a home owner misses a specified amount of mortgage payments, the lender holding the note files a complaint in mortgage foreclosure with the court house. In that this information is public record they can be easily found and advertised.
If you want to find foreclosed homes... REO (Real Estate Owned by the Bank) a qualified licensed Realtor can be of great service.
By Ramona,  Tue Jul 10 2012, 11:40
I gave 2500 down on a house.the guy did not fix it so i had to move.I found out the bank owned it.I have a check were the guy cashed it.What should I do?I was also there for two months and paid rent of 350
By Ramona,  Tue Jul 10 2012, 11:48
I gave 2500 down on a house.the guy did not fix it so i had to move.I found out the bank owned it.I have a check were the guy cash it.What shout I do?
By Trung,  Sun Aug 5 2012, 17:44
Respond the comment from Joe Ross
Hi Joe Ross,
I have the same thought (question) as you do.... not only that, the whole situation of our existing economoy is beyond educated people to understand.... seems like a hungry beggar waiting in line to get his food, and yet he want to sell his standing place to some body to get a dime.... all of these non-sense things we see around may be contributed to the concept of Government Back/Support Business, my guess.
By robinbroadway,  Sun Aug 19 2012, 14:40
OK read all this, but how do I find a FREE MLS list of all the REO, bank owned, HUD, VA house for sale in my area? 90815, do I need to go to the county records/assessors office, do I need to go to the bank to find out? I Know there are ALOT of homes in my area that are for sale/foreclosures etc etc, any help would be greatly appreciated. Thanks
By Turkishboy_84,  Sun Oct 14 2012, 17:24
hi i wanna buying this house so how mach is it and can i offer for this house or no
By Turkishboy_84,  Sun Oct 14 2012, 17:25
hi i wanna buying this house so how mach is it and can i offer for this house or no .
By looker1975,  Wed Nov 7 2012, 03:47
What's Jesus have to do with it?
By lilsteve181,  Sun Nov 18 2012, 11:06
how do u get in contact with someone about this property?
By Mark Patz,  Tue Dec 4 2012, 16:32
912 valerie ln in Tehachapi is my house and it is NOT for sale. It is a predatory loan I am suing for and BofA wont give me my signed docs and ignored 6 mod attempts. Banks and these websites keep trying to get ppl to believe they can make an invwestment off of MY PROPERTY. The bank sold my loan to investors and they tried to profit off of my wages for the next 30 years when the wages that could afford the 6.25% loan they dont want to modify or give me my 5.75% signed lockin agreement. BofA is trying to foreclose on a predatory Countrywide Loan and ignoring our rights. But the United States gets to sue them for what they did to me and I have to go on the street? I know BofA and all that support their ways of exploiting wages, will end up on the street before they do try to auction me homeless set on 12/21/12, in the name, mind body and soul, of My Lord Jesus Christ and our My Father..
By xhsui,  Sun Jan 27 2013, 11:54
how can i make purchase for this property
By xhsui,  Sun Jan 27 2013, 11:55
can someone contact me about this
By goodfisher02,  Sun Feb 3 2013, 12:15
I am interesting on condo apartment North Palm Beach Fl. 33408 Paradise Harbour Bld.#203 $37.600 1 Bed.1 Bath 720 sqf. Realty. Please send me email at goodfisher02@juno.com for more information is stil on preforeclosure ,I appreciate.Thank You
By Moneika.whistleman,  Fri Feb 22 2013, 03:56
most houses that are foreclosed on are bought back by the bank......they get bail-out money for their loss, no wonder the economy is in the shape its in.But why wont they give the exact address for these properties?.....maybe to get more money from our gov't(our money)
By neetarizal,  Wed Mar 13 2013, 08:53
How can I get hold of someone who can give me more information about the property. I am interested in buying .please email me at neetarizal@yahoo.com.thanks
By neetarizal,  Wed Mar 13 2013, 08:54
Trying to get hold of property.
By aroneljb,  Sun Mar 17 2013, 08:39
Suspected this "forclosure" business is for the banks, primarilly. Oh, well, politics and greed as usual. What happened to my America. I'm 67, what a change from when people tried to help other people "in the day". Gone, gone, gone. I suspect based on what I see in the culture, forever gone. No I'm not whining, just observation. I'm well taken care off, but my daughter suffered from a Country Wide debacle that cost them everything. It's the "now" generation that feels hopeless about the "American" dream.
By Jsarver79,  Sat Mar 23 2013, 20:46
Everything in housing is so confusing. You see properties that say pre sold for comp only. Then when I research the county clerk records it was just a house that was refinaced for more. I see several of these, which make it appear houses sold in the area and the ones for sale are worth more in the area than they really are. It has to be the banks that do the re-financing that put information in. Then I look at listings of REO properties for Wells Fargo. Most recently a repo that was listed worth $342,000 even though the county assesed it at 304,000 which is what it sold for in 2005. Then was bought by the bank for $275,000 at County auction which made it an REO. Then you see a for sale by owner that lasts no time for sale that is almost identical in the same area that sales for $249,000. There are houses all around the area that when you go to the County Auction Site that the banks own. The banks sit on them for months. This makes it less easy for the average person to see that the house they are trying to sale for $342,000 was just bought by them through repo auction for just $279,00 a few months earlier because the home owner could not sale the home. Most county auction sales databases only let you go back a few months to see what properties sold for. That means you would have to research clerk records to get the information which takes time and money. If looking to buy in the next 6-12 months I would copy all of the County Auctions listed sold for the next 1 month to time you buy. This will show you what the bank really has in the property. Most of the time the banks have already received money covering some of their loss from FHA or VA. I would never offer them more than 20% less than what they paid for it at auction. They are trying to hold on to the properties and only put less than 8 to 10 % of their bank owned properties on the market and believe waiting you out and keeping the housing high will motivate sellers to give in and pay a much larger price for homes than they are worth. They tell everyone they are doing it for our benift so the housing market does not crash but truly they are twising the market to try and make alot more money than was loss when they forclosed on the home. Their assests include their home inventories. Why they hang on to them they are valued at their last sale price. They do not want their inventories to be valued at less because their assets are obviously used to assese a banks available amount of money to loan. The fact is that our economy has suffered yes dumping alot of repo's on the market at the same time would make home values go down for a bit but like everything it would level out to an appropriate price at some point. I would just say if you are buying a home at this time I would be carefull and only purchase a home if you truly are in it for the long haul.
By pmaynjc0429,  Mon Apr 8 2013, 17:58
The property you are showing in this picture is NOT in foreclosure or for sale. It is the house next door without the garage and out buildings. You have put the wrong picture on here. I have lived in this house for 30 years and it is paid for and so are the taxes. I want this picture removed and replaced with the house next door put in its place. Coldwell realty is handling the sale of that house.
By vfcmail,  Sun Apr 28 2013, 16:51
By Robin Torme',  Sat May 4 2013, 13:37
These listings are posted by a company called Realty Trac - if you see the logo at the bottom, then it is one of their listings. They provide a service where they list all the preforeclosures and REO's and charge you a monthly fee to access this information so that's how you find out more information on these properties listed by them. However, many of these properties are not yet for sale or are in various stages of foreclosure. I've never used this service so don't know if it's worth it. The problem with buying foreclosures at auctions are described in their informational articles here. It can be very risky as it's not always easy to find all the liens attached. It's always safer to use real estate agents but of course, they usually keep the best deals for themselves and flip them so you must find a good real estate attorney if you are going to deal in foreclosures.
By Robin Torme',  Sat May 4 2013, 13:47
And Mr. Mark Patz, my heart goes out to you and the other people who's homes get listed here. What the banks did was criminal and our government used tax payers money to bail them out. It is so absurd that if the public only knew the half of it - what the banks did during this mortgage crisis was criminal, there would probably be riots in the streets. It came close with Occupy Wall St. which was initially a protest about this however this group was infiltrated by hired 'nuts' and the media (controlled by the banks) turned this into a democrat versus republican fight to distract people and degrade the credibility of the protest. The mortgage crisis was one of the largest transfers of wealth in American history. We'd be in jail if we did what they did. And the saddest part is how many victims got hurt and lost their homes so banks could make billions.
By Bebeisa,  Wed May 8 2013, 18:14
How can I get in touch with some on line you do not put your phone number or the number of the house the is for foreclosure. Ca. Some get back to me we are interesting of buying a house 3br 2bt. Thank you.
By Bebeisa,  Wed May 8 2013, 18:15
I am interesting of buying house foreclosure or bank own please can you get back to me.
By Mattrisi,  Thu May 23 2013, 08:23
I live next door to this property. I will not put up with bad tenants and contractors working past 6 pm. This home needs a new tar roof as it is coming up and water is getting into my child's room. Backyard is a mess bad. I will make bank fix everything. I am a well respected St Dots and Cardinal Ohara grad. Not gonna put up with BS next door to me!!!
By Philip J. Cunningham Sr,  Tue Jun 25 2013, 14:27
If anyone is interested in buying or wants/needs an upfront answer to your real estate related questions please call me in my office 215-725-5700 X49 yes I'm a real estate agent and a Realtor If I don't know the answer I'll get you the answer

Philip J. Cunningham Sr.
V.I.P. Realty Corporation
7942 Bustleton Ave
Philadelphia, PA 19152
By por924sche,  Sat Jun 29 2013, 07:07
i talked to these people and they said their home is not in forcloser,they are moving out of town with their business,what bank is their forcloser with THEN?
By Ahmad Haidery,  Thu Jul 4 2013, 20:38
I would like to see if I can buy a preforclosure now. call me 718 316 2777 mahmood
By Ahmad Haidery,  Thu Jul 4 2013, 20:39
call mahmood 718 316 2777
By Daniel Counts,  Sat Jul 13 2013, 07:32
I see a pre-foreclosure house showing 250k on Trulia when I know the houses next door are worth 1 and 2 million and higher in this development, as should this particular house be worth 1 or 2 million. Are these advertised pre-foreclosure prices reliable sometimes, never, or always where one could purchase it for the 250k? Or is that just the default amount and when and if it goes into a bidding process the price goes up significantly in this case? Is it possible to really get a house for a steal like this? I would definitely lay down 250k cash today for a house in this development.
By kimgd534,  Sat Jul 20 2013, 04:01
well if you want info on 617 el caminito pl best info I can give is Lol for who ever buys it "it's BUYER BEWARE" no tells you the problems with the home or why the homeowners left and let it go into foreclosure. if you haven't been out to the address maybe you should go look. I think you would say what I did Really!. I would like to talk to the homeowners before I buy. just saying..... your selling this home on a picture and the picture doesn't even look like the home today, Really this home is :( the home looks like it in a bad neighborhood
By William Gills,  Tue Jul 23 2013, 21:09
If you Live in West Michigan and your Interested in any of these Homes For Sale, that are Listed Call Me. My Name is Ernie Gills @ 616-538-6950. I am a Real Estate Agent with Five Star Real Estate Company Almost 20 years of being an Agent. These homes that are in Foreclosure, Bank Owned are not always 4 - Sale, on the most Part. This is just info on a seller in Financing Trouble and is Possible or maybe going to loss there home. But by the time the Bank repos or takes the Home, the Bank then contacts a Real Estate Company to sell the Homes for them. And just a couple of things to note. 1 Most all the homes are Bank Owned. 2 Your looking at Financing owed on these homes & if the sellers has a lot of Equity into a home and you see that its a Great Deal on that Home. Well the Owner is going to list his/her home 1st before they lose that Equity . Wouldn't you? 3 If its to good of a good deal then there's a catch some where (If it to good to be true, then it is) 4. Contact a Realtor when wanting information on a piece of Real Estate. We can usually find out if there is a catch. Phone calls are free. And yes there are Still STEALS out there Not Deals & Let me Help you find your Steal of a Deal.
By Lee,  Tue Sep 17 2013, 16:40
By cori6263,  Sat Oct 5 2013, 21:29
@ Mark patz, I too have been trying to get a Modification loan with BOA and it took them (1) one year to tell me NO... I have asked them to go over the info again and I am still told NO...I was with Countrywide which in turn sold to BOA and have a 7%, so I know how you feel. I am having trouble keeping up w/ current payments and just wanted BOA to lower my interest but NOPE they cant', I will never ever do business w/ BOA again and I do tell everyone I know how bad they are to their customers. I have contacted the Attorney General and still can't seem to get any help, so I guess the banks hold all the weight. I just hope I don't end up in foreclosure, I would hate for BOA to make any money on MY home.
By Fury1021@aol.com,  Sun Oct 6 2013, 17:55
The down payment for these homes are a joke. Even for a land contract. Who is going to be able to afford the down payment . The down payments are ridiculiously and extremely high. The Banks, Judges and lawyers are all thieves.
By nkei79,  Mon Nov 4 2013, 17:11
I am interested in buying this home for my family; I have call the bank but they say is not for sale. Can the owner still help when foreclosure is at this stage of the process?
By Chuck Hulsey,  Sat Nov 16 2013, 22:57
There is a commercial on TV that says when you buy a home it gives work to 4 or 5 people in your area. Truth is if you buy in CA. the whole world has got there hands in your pocket.
By Rebecca Hoffler,  Fri Nov 22 2013, 12:40
Mr. pmaynjc0429, YOU ARE WRONG!!! My home is the one without the garage with 2 out buildings & NO IT IS NOT BEING FORCLOSED ON & IS NOT FOR SALE!!! It is the 2 story used to be cedar house that is run down. YES IT HAS A a 2 CAR GARAGE!!!! GET YOUR INFO RIGHT!!!!
By Rebecca Hoffler,  Fri Nov 22 2013, 12:48
6539 Hwy 49 E Springfield TN was auctioned off yesterday at the court house & I hope who ever bought it did not pay $90,000 for it because it needs a lot of work including critter removal. We watch the birds, bats & squirrels going in & out of the holes on the side of the house.
By Maria Sevastos,  Wed Jan 1 2014, 16:56
I would love to buy a multi-unit house in De, Mi. possibly rent one unit to someone who is a Jack of all trades whom can live for 200.00 and even if I only brake even each month after all expenses... I am happy. People helping people. Anyone interested call me.
By office5,  Sat Jan 25 2014, 20:38
the problem is that there is no law governing the resale of a foreclosed home. It is not right that a bank should profit beyond the judgement value of an reo. This is worse than a credit card issuer taking a write off on a credit default then selling the debt to a blood sucking collector
By Paula Clark,  Wed Feb 5 2014, 05:40
I agree with all Realtors on this site
Realty trac wants to charge you for information that is public to everyone
Trulia should not even have these properties listed
Buyers are calling realtors to get more info and there is no way to show them
Banks are listing foreclosed properties with realtors at close to market prices these days.
Work with a reputable Realtor
This is bogus info.
Shame on you Trulia. And shame on Realty Trac!!
By josephineheyn,  Fri Feb 7 2014, 03:11
Wow anymore trusthworthy these days sounded like vultures and aligators banks, no wonder this country is in bad shape
By josephineheyn,  Fri Feb 7 2014, 03:24
Mr daniel counts yes the listing price is 250k then the highest bidder gets it. They want to attract more buyers for that price. It happens all the time.
By mlo315,  Fri Feb 14 2014, 19:25
This site is a fake!!! My house is listed as a foreclosure and it is NOT!!!! I called the company to remove it and they have no info. Of course not. Contacting the attorney general's office on this site!!!!
By Will Roach,  Mon Feb 17 2014, 19:09
For all of those home owners whose homes are being listed, frauduantely, by Trulia or any other RE website, I suggest contacting an attorney and having them draft a letter letting them know, BOA, especially, that what they are doing is illegal and that you intend to file a law suit against them for their misconduct.
Use a Certified Post which costs about$3.00 and address it to the Head of the Real Estate Accounts Department.
By AD Latorre,  Tue Apr 1 2014, 18:56
Trulia, if you are utilizing a 3rd party like Realty Trac, they are giving erroneous and potentially intentional false information. 5351 W Yucca is NOT on the market, IT IS NOT a legitimately re-claimed property by the prior lender or even a foreclosed home. If you do not know or thru your means of quality control cannot verify the information you are publically alleging, do not make it public. This home is privately owned by my LLC and is not being sold to the public. Thru a proper title search as well as as an internal audit, it was found that the current mortgage on the property was illegally passed. For more information contact me directly, as I specialize in these types of homes as well as circumstances. Underwriting to go back 20-30 years on home as well as representation if necessary. Armando David Latorre 602-740-4275 / Mustang Equity Holdings L.L.C. I attempted to call Realty Trac but it was after hours. Please either fix the information or remove it. Thank you.
By John Deeds,  Thu Apr 3 2014, 16:15
My family of 6 we're buying on land contract. We were young and signed everything, made the down payment, I put ten grand into this double wide on cement blocks and lived here for 4 years now. Well we were just served papers that they can toss us out whenever! WHAT? Could not get ahold of the guy we we're buying it from, it took the law over 8 attempts to make service on him. He lives in another town, and his address is there.. I can't find anyway to make a bid on our home. First place bank says they don't own it, Fannie Mae does. This realtor keeps coming and taking pix every week. But she can't make a bid. She's just seeing if its still occupied for them. Lol
since this place sold for 14,000 at the auction, and since the sewer line just broke, and we fixed it. For now.. village says it needs replaced the whole distance. Bout $12,000 for that. When the snow melted the roof started leaking. They want 21k for our home were fighting to keep. (I grew up across the street) everyone at this real estate company keeps telling us, they just report to Fannie Mae and don't make bids...Our place was sold without our knowledge we were never servred anything. I've been paying 500 a month on a house that the payment is 105 on. By law in Ohio I have a definite intrest in our home, and was never served anything except a writ of possesion, with the ppl's names that got it repoed. Can anyone give some advise, I filed some papers with the court today, if this don't stop the writ, my family will be moved out in ten days.. my email address is jdeeds007@gmail.com thx.. & it aint worth 21k with all the problems that have just begun since the weather has changed....
By B,  Fri Jun 6 2014, 13:39
Are we at peak? Are we at the down ward inflection point?

Historically low,low mortgage applications + increased average home sale prices = Housing is tanking from the bottom up.

Low and moderate priced homes are not selling. Apparent average home price is then skewed by high end sales. Yet all the "news" says is "Prices are rising!". Real estate has become a confidence trick.

Be skeptical! Remember, bubble home price patterns unfold in a saw-tooth pattern with a slow rise in sales prices, year after year, followed by rapid and sudden price decline. Boom!

What is it, 5 years since the last bubble popped? Are we at peak price right this moment? And do you think the all-cash investors are -not- eyeing the exits right now?

This market is so very highly manipulated that is has become scary stuff. When the bubble bursts then expect the investor rats to jump ship faster than the captain of an Italian cruise ship. It is the bigger fool that will be left holding the bag.

I personally don't care if I make money on my house other than a small percentage increase to keep pace with inflation. But I DO NOT want to lose big money like the suckers in 2009. I am not a muppet. The USA has turned buying a home into a high risk gamble. Just horrible.
By terry9297,  Wed Aug 20 2014, 19:30
Realty track is such a crock. They have a bunch of houses that aren't even for sale. As far as I can tell the whole foreclosure industry is a big scam. I don't know how to contact people that are actually in foreclosure. Maybe we could help one another with a fair price and they can get out of foreclosure, but the banks and these sites screw you both over.
By Graciela Dumart,  Thu Sep 18 2014, 13:53
Most of you are so confused about buying a home, especially a foreclosed home you shouldn't even be looking. Go read a book~
By aazizshaikh,  Sat Jan 3 2015, 04:12
I have read all these posts and say that Congress should make law for all Foreclosures. Mostly Foreclosures are sold only loans not homes etc. and buyers are at risk. There should be clear and transparent process of these foreclosures to sell. All Foreclosures are suppose to be free from occupants and all other loans to be on visible record to be shown to purchasers before auction. Is any Law maker is interesting to introduce such law for protection of purchasers ? Hope fully not as all these BIGS have some kind of benefits or interest .
By Home Searcher,  Wed Jan 7 2015, 08:28
As a small time RE investor, I have few DIY title searches at http://www.nextace.com recently. The website seems meeting my expectations. I only paid 49 bucks for a preliminary title report that has ownership history, mortgage record, tax and liens information. When you have title report on hand, you can contact the owner, the bank and so on...
By Andrew OC,  Wed Jan 14 2015, 08:37
Most of the bank will list the REO themselves and list on the MLS. Take Freddie Mac for example, they are listing their own REO on http://www.homesteps.com while Bank of America listing on http://foreclosures.bankofamerica.com

To get more information on the title, liens, back taxes and even ownership history of an REO home, you can check out the title chain at http://www.searchq.com for free
By Karylamb,  Thu Jun 25 2015, 14:54
It has become difficult for any one to get anywhere in buying a home a lot of homes are over priced you really never own a foreclosed home the banks let homes go back to Fannie may and are paid so they don't care . I bought two homes on contract years ago and just felt with the owner to me that's still the best way to go you can find out through the county if there are leans or unpaid debts the property you use a title company and have a escrow set up it was a lot less complicated no middle people you just have to find an owner that will work with you don't give up
By Drgeraldine1,  Sun Jul 26 2015, 14:32
I looking for owners in the pre foreclosure process that I may be able to assist in keeping their properties. However, it is very difficult because most real estate agents expect you to buy immediately and the pre foreclosure information is kept close to those in the knows hip pocket. What are you to do other than keep pressing.
By Jane,  Thu Aug 27 2015, 06:31
Trulia doesn't use the most current public tax records, so don't waste time on any property you see as a pre-foreclosure that's been listed on the site for more than 6 months. I looked into a couple of properties we were interested in, simply called the city tax assessor's office and they gave me information for the current owners. They were NOT bank owned, nor in foreclosure, nor at auction. Paying for the RealtyTrac is a waste of money, since they do not have current owner information either, and they can't get you in touch with anyone who does know. A realtor most likely will refer you the city's tax records, and can't help get information either. Just an FYI comment for anyone considering paying the monthly fee for RealtyTrac. Buyer beware! 99% of the records are WAY out of date.
By Lanna_roberts,  Tue Sep 29 2015, 13:01
First of all no one should be losing there homes in foreclosure,
Considering that the banks are stealing the homes from people.
The biggest fraud in history is going on. Here is some info for you all to read
and i hope some of these people will keep there homes because of this info.
So please Read and pass this info along so these bankers stop ripping us all off.
Read http://privateaudio.homestead.com/Bank-Fraud.html And Dave Mack
Bank Fraud Documents. Just might help.

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What is Foreclosure? Foreclosure is a process that allows a lender to recover the amount owed on a defaulted loan by selling or taking ownership (repossession) of the property securing the loan. The foreclosure process begins when a borrower/owner defaults ...


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