33141 : Advice

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Cindi Hagley, Real Estate Pro in San Ramon, CA
Cindi Hagley answered:
My condo is for sale very cheap but it is not a short sale yet. I am similar to short sale prices hoping that
your best bet is to consult a ,local attorney or tax professional and diwscuss the pros and cons of bk with them
0 votes Share Flag Mon Apr 20, 2009 Foreclosure in 33141
Totorino, Home Buyer in 33141
Totorino answered:
If nobody buys my condo (can't afford to keep it anymore) even though it's on the market as cheap as the
just to have a look around don't bother with my answer
0 votes Share Flag Mon Apr 20, 2009 Foreclosure in 33141
Keith Manson-…, Real Estate Pro in Milwaukee, WI
Keith Manson- Metro Milwaukee Wisconsin answered:
If i don't do a bankruptcy after shortsale or foreclosure, or before, which ever one it is, what will happen
Things are changing and it is hard to say how your credit will be impacted in the future. I know you indicate that you will not buy a property again, but it is hard to say because thin ... more
0 votes Share Flag Sun Apr 19, 2009 Foreclosure in 33141
Michael Young, Real Estate Pro in San Francisco, CA
Michael Young answered:
If nobody buys my condo (can't afford to keep it anymore) even though it's on the market as cheap as the
The short answer is yes, but it depends on your bank. All creditors have the right to pursue the money owed to them, but these days some banks will let the money go, so to speak. If y ... more
0 votes Share Flag Sat Apr 18, 2009 Foreclosure in 33141
Michael Young, Real Estate Pro in San Francisco, CA
Michael Young answered:
How long should i wait with my regular sales price before i apply for shortsale.?
If you're only one month late on your payments, even if you list your condo as a short-sale and you get an offer, it is unlikely the bank will accept the offer anyway. You need to demo ... more
0 votes Share Flag Sat Apr 18, 2009 Foreclosure in 33141
Mott Kornicki, Real Estate Pro in 33154
Mott Kornicki answered:
Our condo building is so behind with maintenance fees and more, out of 250 condos only 100 are
I have yet to see an entire building "close down" because many owners are not paying the maintenance fees. More often than not, the paying unit owners will be assessed to cover the shor ... more
0 votes Share Flag Fri Apr 17, 2009 Foreclosure in 33141
Janie Coffey, Real Estate Pro in Coral Gables, FL
Janie Coffey answered:
My mortgage is 2 month late, so are my hoa fees. I lost my job and as a rental i would not get enough
Hi Vernon

Often when properties are late in payment, they send a bank representative by to see the condition of the property. With single family homes this is often just a drive-by, ... more
0 votes Share Flag Tue Apr 14, 2009 Foreclosure in 33141
R. Davis, Both Buyer and Seller in Miami Beach, FL
R. Davis asked:
Can anyone tell me how many foreclosures are at 401 blu of north beach - 401 69th street miami 33141? We know people that want to buy there but not sure because of shortsale listings and more......
0 votes Share Flag Sat Apr 11, 2009 Foreclosure in 33141
Nicholas Jon…, Both Buyer and Seller in Miami Beach, FL
Nicholas Jones answered:
Paid 178000 (incl cc) in 2005 for my brand new 600sqft studio. Put 65000 down. Lost my job now, cannot
Vernon

If you want to contact me, I may be able to help. My email is nljinvestments@gmail.com.

Thanks,
Nicholas Jones
0 votes Share Flag Mon Apr 6, 2009 Foreclosure in 33141
Mott Kornicki, Real Estate Pro in 33154
Mott Kornicki answered:
Is the market getting worse? The building i live in has 50% foreclosures and plenty
Vernon~

401 BLU has been mentioned here on trulia® recently. There are indeed, many foreclosures and short-sales throughout Miami Beach and in the entire country for that matter. ... more
0 votes Share Flag Sun Apr 5, 2009 Foreclosure in 33141
Jefferson, Home Buyer in Bucks County, PA
Jefferson answered:
We both got laid off, mortgage and hoa are 2 month late, building doesn't allow to rent out the unit unless
Hi Vernon,

You need to IMMEDIATELY have a free consult with a foreclosure attorney. If you simply go and talk with your bank, they will probably turn around behind your back and fo ... more
1 vote Share Flag Sun Apr 5, 2009 Foreclosure in 33141
Mott Kornicki, Real Estate Pro in 33154
Mott Kornicki answered:
Ifi go in foreclosure, who will pay my property taxes for 2009?
Typically, the lender pays the property taxes in order to avoid tax certificates at high interest rates being bought. The amount of taxes, past due association or HOA fees get added to ... more
0 votes Share Flag Sun Mar 22, 2009 Foreclosure in 33141
Roger, Home Buyer in 33116
Roger asked:
My cousin was told by her co-worker not to buy anything at 401 BLU (401 69th street Miami Beach Fl 33141)
even though she likes the apartments a lot. They say there are to many foreclosures and short sales and
the building is to difficult to bother with because they have mostly renters.
Does…
0 votes Share Flag Fri Mar 20, 2009 Foreclosure in 33141
Catherine Kim…, Real Estate Pro in Pembroke Pines, FL
Catherine Kim Owens answered:
My mortgage is 1 month late (i got laid off from work), i am moving out to sleep on my friends sofa til i find
lenders are more willing to delay the foreclosure process if it's your primary home. Sometimes, you can drag it out for 6 mos...Once you have a renter in there, then, they can consider ... more
0 votes Share Flag Thu Mar 19, 2009 Foreclosure in 33141
Michael L. R…, Real Estate Pro in Miami, FL
Michael L. Ramos answered:
When will i be able to sell my 1 bedroom condo at 401 blu of North Beach?
I just recently listed unit 800 at 401 BLU as a bank owned property. This building is a disaster. Due to the excessive default rates in the building and the number of comparable oceanfr ... more
0 votes Share Flag Thu Mar 19, 2009 Foreclosure in 33141
Christopher…, Real Estate Pro in Venice, FL
Christopher Lyon answered:
If i get a tenant for my condo, can i still modify my mortgage?
Sandy,

The Modification program is only for primary residences but the new "Home Affordable Refinance" is available for investment properties and can go up to 105% Loan to Value. Th ... more
0 votes Share Flag Fri Mar 13, 2009 Financing in 33141
Catherine Kim…, Real Estate Pro in Pembroke Pines, FL
Catherine Kim Owens answered:
Is there any agent that knows the financial shape of the building '401 BLU' in miami beach?
Your condo assoc. should be able to tell you what % is owner occupied, rented, vacant, investor-owned. It is good to develop a good rapport with your property mgr. so that you can ask ... more
0 votes Share Flag Sun Mar 8, 2009 Foreclosure in 33141
Tony Grech, Real Estate Pro in Michigan
Tony Grech answered:
How many month before i get a lien on my property (miami beach) will i have to be late on HOA?
Depends on the bylaws of the association. I would guess they could technically place a lien on the property if you fall even a month behind, however realistically they probably won't
0 votes Share Flag Wed Mar 4, 2009 Foreclosure in 33141
Blaison Samu…, Real Estate Pro in Fremont, CA
Blaison Samuel answered:
If nobody buys my shortsale, what happens?
M,

Keith and Louise gave the right answer. If it doesn't sell and you don't pay your mortgage then the bank will foreclose. The foreclosure timeline is dfferent from state to state. ... more
0 votes Share Flag Wed Mar 4, 2009 Foreclosure in 33141
Jose Castillo, Real Estate Pro in Fort Lauderdale, FL
Jose Castillo answered:
What happens if my condo building closes and i loose all my equity that i had build up?
M

So sorry to hear about your problem, hang in there maybe things will come around for you.
the best thing is to contact a real estate attorney about what options you may have.
Sec ... more
0 votes Share Flag Wed Mar 4, 2009 Foreclosure in 33141
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