Foreclosure in 70458>Question Details

Lisa Hernand…, Both Buyer and Seller in 70458

how to buy a home before the mortgage holder gets it?

Asked by Lisa Hernandez, 70458 Thu Apr 10, 2008

where can i find FREE listings of tax forclosures, repos, preforclosures. ext.

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Answers

10
Lisa, if you are interested, I would be happy to provide you with the most recent list of the foreclosures in St. Tammany Parish. Please feel free t contact me and I will email you the list. Thank you for your trust -- Jeannie
0 votes Thank Flag Link Wed Jan 20, 2010
You need to get with an agent that know their way around short sale listings, you can also go to the st tammany Parish web site there is a link for foreclosures.Check out your Times Picayune there is usually a list of homes that are going up for sherriff sale at the Covington court house I believe monthly. If you need any help email me and I can get you alittle more info. Get with a good agent, and good luck.
0 votes Thank Flag Link Sun Jul 19, 2009
Secret One: from.... foreclosuremillionaires.com

"Find Foreclosures BEFORE they are foreclosed on—get to the owner and make a deal before anyone else. A home worth $250,000 can be purchased for $20,000 "

for only 19.95??

Ohhhhhh K
0 votes Thank Flag Link Sun Jun 8, 2008
The short answer (no pun intented), is find a local agent that specializes in short sales.

longer answer:
As LA Lending said in their reply, it is possible to purchase properties for less than what is owed but this is a very complicated proccess on a very short timeline. The average person calling a lendor to offer less than the current ballance will be told this is not possible. Most Real Estate agents do not have the specialized training to know exactly how to submit a short sale. This is why more than 50% of all short sale attemps end in foreclosure. If you have a relationship with an agent who does short sales thay would probably call you anytime they were listing a new one.

If a property owner has over 20% equity in thier property their phone started ringing off the hook the day the lendor filed its first court papers. Major investors recieve daily updates from the courthouse around the state and start thier procces for securing these properties.
0 votes Thank Flag Link Sun Jun 8, 2008
The Parish's local Sheriff's Office handles all Real Estate Foreclosures. Many of the parishes Sheriff's Offices have websites where they list the upcoming foreclosures - some even have photos of the property.

There are also some websites that list that information for a price - but it's important to note that all information they are giving you is a matter of public record (so you could, with a little research find it elsewhere) and the contact information they give you is usually for the lawfirm facilitating the foreclosure - not the owners of the property. The lawfirm will not release any additional information to you.

After you have a property in mind:
You can offer to purchase a house while in foreclosure before the sheriff's sale - you would have to submit the purchase agreement to the person in foreclosure, who would in turn present it to their mortgage company. This is the only way I know of that you would have the opportunity to purchase the property for less than the debt owed on the outstanding mortgage. Also, you will help the seller avoid a foreclosure ding on their credit report and possibly allow them to pocket some $$ instead of loosing it all to the lending company.

Otherwise you would have to attend the sale and bid against the mortgage holder (who never goes below the debt owed to their company + 3% for sheriff's comissions).


Hope this information helps!
Web Reference: http://www.LALending.net
0 votes Thank Flag Link Mon May 19, 2008
In the St Tammany area, the official newspaper of record is the St Tammany Farmer. Homes near foreclosure are listed in Public Notice section of the paper. Back issues can be found at the library.
The Clerk of Court office in Covington is a great resource. Go in and ask for help, they are friendly and helpful. There is a charge for copies. There is Clerk of Court information available online as well.
Many homes that are listed with an agent note that it is a short sale situation in the remarks.
If you would like additional information in the St Tammany area, please feel free to contact me.
0 votes Thank Flag Link Thu May 15, 2008
Well there are two ways to tackle this issue. One you can go to your local title company and request a list of Notice of defaulted borrowers, or pre-foreclosure homes. Also, after the sale of the home has taken place the fore-closed owner has the right to buy back the home for a grace period in Oregon it is 180 days. This is a cloud on the title which can be purchased, if you were to go to the original owner you could purchase this right of title.
The advantage of doing that is you can then get a loan for the home, so you do not have to pay cash, and you only need to pay the amount that the home was purchased for at auction.
0 votes Thank Flag Link Tue May 6, 2008
BEST ANSWER
check with your parish (county) sheriff.

In Baton Rouge, one can view properties facing auction on...https://www.ebrso.org/civil/

good luck
0 votes Thank Flag Link Tue May 6, 2008
Specifically in our area, there are no free listings...but if you have a specific property in mind/or area you are looking at, start with city hall...drive the neighbourhoods, then give me a call.

Be very cautious...investment properties will now require 25% down, and then the cash money to do repairs....take a look on my website for typical repair costs in the Lousiana/Gulf Coast area.
Web Reference: http://www.iansellsnola.com
0 votes Thank Flag Link Thu Apr 10, 2008
Your courthouse (city or county) will have those filed. You just go down there and ask a clerk (most are very helpful) how the system works. That's FREE.

Also, check your daily newspapers. Such notices (pending foreclosures and auctions) are required to have public notice. Assuming you already receive a daily newspaper, that's FREE.

As far as preforeclosures, if you're interested in short sales, many are listed on the MLS. It's just like a regular sale in most respects, except the lender must approve it. So, log onto your favorite Realtor's website and start looking. If you can do a keyword search, search for "lender approval" or "short sale." That's FREE.

Note: Very few foreclosures are tax foreclosures. (Maybe on late night infomercials, they are. But most real foreclosures are for non-payment of a mortgage.) Also, once a property has been foreclosed upon (your "repos"), then the lender owns it; it's too late to buy "before the mortgage holder gets it."

Now, there are tons of ways to find owners in preforeclosure, or owners who'd consider short sales, before they're on the MLS. But, those aren't FREE.

Hope that helps.
0 votes Thank Flag Link Thu Apr 10, 2008
Don Tepper, Real Estate Pro in Fairfax, VA
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