I posted a similar answer on the following Trulia page: http://www.trulia.com/voices/Foreclosure/How_much_is_the_pay_for_cleaning_foreclosures_in_G-129311.
You can also click the link below to see my answer. I hope you have great success.
Thanks,... more
I often run into people who ask about foreclosures. I always wonder why. They seem to have decided that a foreclosure is like a gift in some way. Will it be like a new built house in a terrific neighborhood
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call us..I just got a 4unit near Buff State college and a demanding area. I think one of the units is mt. And we have more on our website at www.rdtoledo.com. Have your agent call us soon.... more
2010 City of Buffalo Foreclosure Auction - October 25-27 Attention Investors: The City of Buffalo holds an annual tax foreclosure auction on October 25th-27th, 2010. You can find updated information
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The only one who can answer this question is the lender. It could be that they need to "get more of their ducks in row" first. Do not assume you are out of the woods. Like Scott said contact them and see what you can work out with them remembering that they are trying to collect a debt and all information will be used to do so.
Consider carefully before letting the home go to foreclosure. If you cannot work out something with them on your loan ask them if you can do a short sale or deed in lieu. Also make sure to ask their policy on debt forgiveness and your future impact finacially. A short sale will hurt your credit less than a foreclosure.... more
It all depends on what is holding your score down, but as long as it is not a bankruptcy or foreclosure (of any type short sale-foreclosure judgment) then the timing could be as short as a few months to as long as 2 years.
A start is to get your credit report (one can get a free report once a year at www.annualcreditreport.com) and review it well, there may be errors you want to dispute, but most importantly you want to review the derogatory items and find a ways to negotiate them in a manor that puts them in a good light.
Your next step is to learn the proper way to deal with personal finance. There are many books that can assist you with this but if you are a person that needs support Budget Assist the Weight Watchers of money management can help you with a fully supported virtual personal finance program. The temporary web site is www.money101.name.
Good Luck
Bob... more
The City of Buffalo can notify you of foreclosure proceedings if you are behind on your water bill. Usually they don't take action for at least a year past due but I wouldn't risk it.
How much is your water bill? First, make sure you have all low flow shower heard and faucets installed in the house. Also, a new toilet could save gallons with each flush. Shorter showers, too. Are you using more that 30k gallons per year?
A tax credit is coming up this year for energy efficient appliances and a new washer or dishwasher (if you have one) may save water.... more
There is a great website that will give you all kinds of general data. It also has a great forum where you can ask specific questions and you will get answers from people that know the area.
Hope this helps!... more
Hats off to Joe Sorrentino for his suggestion,
"Contact Legal Aid service for advice if you cannot afford an attorney".
We (Real Estate Brokers) are quick to advise people to see an Attorney,
but we need to remember that many people heading into Foreclosure are at the end of their financial rope. They may not have the $210 per hour or the $2500 retainer fee or other amount that Attorneys charge.
Robbie L. Vaughn, also great post, and way more meaningful coming from an Attorney.
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Best wishes to you all.
Fred Griffin... more
I just wanted to let everyone know that I have had another wonderful experience working with the professionals of Option Next. As an affiliate, I feel I can turn to them when a client is facing foreclosure.
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Hi Kathryn. On HUD foreclosures, during the initial 10-day period that the property is on the market, preference is given to buyers who will owner-occupy the property. I suggest that even though you may not be an owner-occupant to bid anyway. I have had investors be awarded the bid on the 11th day (when the bids are reviewed) because no owner-occupants bid or the bids submitted were not acceptable to HUD. Even though the owner-occupants are given preference, your bid may simply be better or more acceptable. Don't wait until the 11th day to place your bid because other buyers will be watching for the results just like you. If you have your bid in already, HUD can simply accept your bid rather than waiting a few more days for more people to bid.
On the VA foreclosures, again preference is given to the owner-occupants but there is no 10-day period like on the HUD properties. Good luck to you.... more
As I stated in another question, you rarely get a title search on a tax foreclosure sale. What you have in your hand DOES have value and if the new owners ever sell the house, they will need to provide the new purchaser with an updated title search. the cost of a re-created search is about $1,000 more or less, the cost of a search update is only about $300. If I owned the house, I would want that and also pay to have it updated now. There may be outstanding judgements and liens on it which could prevent the transfer of title if the next buyer wants to get a mortgage.... more
I have a house in mind for you. It is in an up and comming area near Bflo State college and downtown Buffalo a home that needs liitle work for less than 40k. if Interested contact me.
Go to the City web site and will have the name of the last few owners.... http://www.ci.buffalo.ny.us/
go to property information on the left hand side of the main page.
North Buffalo and Hertel are popular areas. The UB area is a little tricky but you can get a good deal and because it is near the University, you can do well with older college students as renters.
If you are looking to rehab and resell, bank owned properties and owner liquidation properties can get you a home very cheaply anywhere but odds are they will need alot of work . I've seen many of these rehabbed in Buffalo and put back on the market at a decent price and they sell!... more