Foreclosure in 42718>Question Details

D, Home Buyer in 42718

I have completed all possible leg work but still not clear on owner. The bank says the home owners and home owners have filed bankruptcy.What's

Asked by D, 42718 Mon May 16, 2011

next?

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We recently went and looked at the property as of 2 days ago the basement is covered in black mold fecies on the carpest and wall(human and dog)they say that there is an escrow of repairs in the amount of 5500 dollars but I am thinking more along the lines of 12-15000 dollars!I would definetly stear clear of this one!!!
0 votes Thank Flag Link Tue Apr 24, 2012
Did this house go into foreclosure in 2011? A few years back, I purchased it sight-unseen from an online real estate ad, and a Campbellsville realtor assisted me with the purchase. I saw it for the first time once I had paid for it and was handed the keys. When I arrived at the house, it was all grown up with weeds, there were sheds that leaned, and the house had no septic or heating. I was told that prior to me buying it, the house had been condemmed - but I have no proof of that. The previous owner stopped in one day and I learned he had filed bankruptcy. I fixed and replaced what I could, then resold it within a few months.
0 votes Thank Flag Link Mon Mar 5, 2012
The bank does not have title to the property. They started the forclosure process, and before the house came to the court house steps to be auctioned off, the BK stops everything. The BK could last for weeks and months, and if the sellers went Chapter 13, they might be able to renogiate the loand and "cram down" the value of the house and keep it.

David Cooper..Las Vegas Foreclosure Investor and Buyer's Agent in Bank Owned REOs with Huge Cash Flow.For a FREE daily list.. email davidcooper@lasvegaswinner.org or call +1-7024997037...
0 votes Thank Flag Link Mon May 16, 2011
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