There are a few ways to remedy this problem. First thing is to let your lender know that you are delinquent because of medical reasons. You can do what's called a "Forbearance Agreement" which will put the delinquent payments in the arrears. Second thing you can do is refinance. If there's equity in the property. Lastly you can put the property on the market and sell if there's equity or you can do a deed in lieu of foreclosure. Which means you sign the property back over to the bank. If you have any questions please contact me. I can help you with anything.... more
When you want to buy a home without getting ripped off, hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position. Visit www.naeba.org for a referral to an Exclusive Buyer's Agent in your area.
I've written a best selling book called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off.. Follow the link below.
Best of luck!
I know the address & the loan situation of the owner for the property you're asking about. It's easy for me to find out these things because I've worked with a lot of pre-foreclosure properties & I "know the ropes" so to speak.
I wouldn't be able to say for sure, without contacting the owner or seeing the inside, as to whether or not the owner is actually underwater, although they are in default.
If you'd like to talk to me some more about this, please shoot me an email directly or give me a call. I do not look back on this same Trulia posting for Answers OR Replies after mine.
Emily S. Knell
Realtor Since--- 1996
Realty ONE Group
Short Sale Specialist... more
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Hello, I am not an attorney and each and every situation is different. Depended upon your situation I can give you some option at no cost to you. Please feel free to contact me. Herb Vinegar 714-501-0126 also check out my web site at www.NewForeclosureAlternatives.com. I specialize in servicing Carson homeowners and the surrounding areas.... more
The best solution to determine if your landlord is in foreclosure would be to check on the foreclosure status of the property. That can be done easily here, http://www.foreclosurecourt.org/find-out-if-your-home-is-in-foreclosure.html... more