Contact local Realtors that are in the REO business and get in with them first which could lead to others.
It will be difficult to be hired by a Fannie Mae type without experience in the field.
What exactly is it you want to do?... more
3 years if delinquent at the time of the short sale
No waiting period if current on all debt at the time of the short sale
(Borrowers are not eligible for a new FHA mortgage if they pursued a short sale agreement on his or her principal residence simply to take advantage of declining market condition to purchase at a reduced price a similar or superior property or if their short sale was on an FHA mortgage)
Bankruptcy: 2 years with reestablished credit
Chapter 7: 2 years with reestablished credit
Foreclosure: 3 years with reestablished credit... more
Champion Realty rebates 50% of the real estate commission to Arizona home buyers on all purchases made through us – new homes, resale homes, short sales and foreclosures.Arizona’s Most Buyer-Friendly
Yes, you must continue to make your rent payments to your landlord regardless of his situation.
Your leasing contract is with your landlord; not his lender so you are bound to the rental agreement and still must comply to the terms on the lease.
I suggest that you look at your lease to determine any consequences for non-payment.
Good luck to you!
Prudential Connecticut Realty... more
Usually, in PA if you call the sherrif's office that handled the forclosure sale they will tell you if the house sold or not. I am sure whoever handles the foreclosure sales in AZ will do likewise.... more
From my experience as an reo agent there are two ways you could go about purchasing the home. One, is to wait til it is relisted or Two, you could contact the lender to find out who the listing agent or the attorney that will be handling the file. In alot of cases once the bank buys back the home, they are usually deciding to either re-list the home again or sell it to a private buyer. There are times the home does not get relisted.... more
The FHA has made it drastically easier for once-struggling homeowners to qualify for an FHA loan. The Federal Housing Administration has announced in a letter to mortgagees that it will reduce the time
FHA Changes May Mean You Qualify After an Economic Event Federal Housing Administration (FHA) made a big announcement last week – one that could impact borrowers who went through a financial hardship
According to a recent story on AZCentral.com, we just passed the third straight quarter where the number of borrowers who are delinquent on their mortgage payments have dropped significantly. Best news
The residential real estate market is quickly trending under 5% for vacancy and rents continue to increase. More people are putting off buying and more people are also being forced out of their homes and into rentals after foreclosure. All this combined with the exuberant condo conversion phenomenon which lost our market over 10,000 rentable units in a short couple of years is really skewing supply and demand. Our population growth is really continuing to happen, yet our current market is absorbing the majority of these people as tenants rather than buyers. I would expect a 5+% increase in most rents around the Valley this year. As a matter of fact I have upped rents at every recent renewal this year for my investor clients, including myself. Expect incentives and lucrative offers to new tenants to really diminish as the demand is high and many of these people are coming out of or are currently in a credit crunch and/or low FICO score profile.... more
11 Ways to Create a Welcoming Front Entrance for Under $100By: Cara Greenberg HouseLogic.com Wouldn’t it be nice to approach your home’s entrance with a grin instead of a grimace? Take our tips for
Unfortunately, no. Most all bank owned homes are assigned to an asset manager who will place the home on the market with a local Realtor. If you would like to provide the address, I would be happy to let you know when it is placed on the market.
Deborah Griffin... more
Great question that there is no real answer to. Let me explain.
A short sale is where the house is being marketted for less than the lender is owed. Typically, the lender has not disclosed their bottom line, so agents can price it wherever they want to generate interest in the property. Nothing prevents an agent from listing a home with an actual value of $300,000 for $175,000. They may get offers for $175,000, the asking price, but the lender can reject or counter offer all of them. I literally saw an agent do that exact scenario. The only person to benefit was the agent because he was able to receive buyer inquiry calls on the home all day long. He was actually hoping the home never sold. Can you imagine how many calls he was getting???
My advice is to do your homework on the area and bid the price that you would be willing to buy the home for, regardless of the asking price.
Also, be prepared for an extended period of time between submitting the offer and getting a response.
Hope this helps.... more
You have until June 20th; if you want the money they are offering.
You can stay there until they evict you, which may take another month.
What did you do with all the money you haven't been paying them?... more
It is very possible that options exist that might work better for you than a foreclosure. We can explore the options with you and determine if any of them are worth further exploration.
Pretty easy for us to talk and discover the paths that might be better for you.... more