A $1 billion federal program to help the jobless and medically ill avoid foreclosure by offering temporary mortgage assistance had too many stringent rules that made too many home owners ineligible to
When we have something serious to decide in terms of our health, we normally get a second Opinion from a doctor. I would like to suggest the same needs to be true with Attorneys!In the Wild Whacky World
The Sacramento Beepublished an article September 26, 2011 with the following statistics compiled by RealtyTrac and Foreclosure-Response.org. They placed our region's shadow inventory at 53,256 homes
You should ask your loan officer as to how it may affect you. You may not need to be served if it is filed with the county, you should ask a local real estate attorney if it affects you legally. good luck working things out... more
Most county's in the U.S. list sale data on the county assessor's website. Just google (yourcounty) assessor. Lots of good information but because leases aren't generally recorded, they won't have this type of info. Hope it helps.... more
Freddie Mac borrowers ineligible for participation in the Home Affordable Modification Program or previously in default on a HAMP or other loan workout will be able to take advantage of a new option that
There is no information about tenants or leases in the public records. Your rental agreement is between you and the seller / owner. It should be given to the new buyer and deposits transferred through escrow, but that doesn't always happen and rarely happens on a short sale.
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Lately I have felt like the undoable is becoming doable and the unreachable is now within reach. Have short sale return times actually improved as of late? Could it really be true? The most recent short
You should not have to call the "negotiator", if you mean the lender that approved the short sale. Your only contact would be with the new owners. They will most likely contact you to let you know if they are going to continue with renting to you. If that is the case they will probably need a walk through.
Make sure your deposit with the previous owner has been transferred through or returned to you.
Lyon Real Estate
Freddie Mac is reporting an increase in short sale fraud and is reaching out to the real estate community to educate them about the signs of short sale fraud and ask for their help in reporting it when
The rental market is continuing to heat up and can offer potentially big returns for buyers willing to jump into the landlord role. For investors looking to take advantage of low record-reaching mortgage
I am not certain what you are asking. Are you saying the bank is trying to evict you? A cash for keys program, which is what some of your previous posts are about, is not an eviction.
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If you're asking why you can't keep renting the property that was foreclosed, check with the bank who now owns the property, They most likely won't want to rent but will want to sell the property to get it off their books, if possible. The rental agreement you had is no longer valid as it was with the prior owner. Since they no longer own the property, you have to check with the new owner (bank?). Unfortunately, if the new owner does not want to rent and wants to sell, you are either going to have to move or purchase the property.
There are laws which protect the renter depending whether he has a lease or a month to month agreement. If you have a lease and the property is foreclosed upon you have until the lease is up before having to move. If it is on a month to month agreement you must be given 90 days to vacate the property. Although during this time the property may be up for sale by the owner and you must make it available for showing. If the property is owned by Fannie Mae or Freddie Mac the government mortgage holders you should usually be contacted within 30 days after the foreclosure and could possibly be offered some help to move. (Protesting Tenants at Foreclosure Act) was put in place by the Federal Govt. in 2009. The exception to this act is if the buyer of the property is going to live in the property then they have a right to evict but still must give 90 days notice.... more
You may find this post useful regarding your situation:
CA's "Protecting Tenants at Foreclosure Act" - need to know info!
Best, Steve... more
If your home is foreclosed upon, then there are no proceedings to start. In these circumstances, title has been passed to the bank, and the bank is now the owner. But there are laws that protect tenants and your existing lease. Banks sometimes try to move around those laws by making attractive cash-for-keys offers to tenants. Whether you accept that offer is up to you. It is negotiable. But remember, the bank does not have your best interests at heart.
Lyon Real Estate... more