Foreclosure in Phoenix>Question Details

Jill, Home Buyer in Phoenix, AZ

I currently am in foreclosure on my condo and the sale date is 4-16-08. Do i have time to save my property?

Asked by Jill, Phoenix, AZ Sun Mar 2, 2008

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Good answer Victor, those points are something to look more into.
0 votes Thank Flag Link Sun Apr 26, 2009
Certain licensed professionals including Real Estate agents and Mortgage brokers are not permitted by law to perform loan modifications when operating in that capacity, I'm seeing so many agents taking a day class and jumping into loan mods advertising they do them on their postcards and mailings and that is trouble in the making.

Search the laws in your state but this is the law in NJ and many others, in NJ the agents would need to start their own business and contact people in that capacity and need to obtain a bond in an amount specified by the states attorney general before they can begin doing loan mods, legally anyway. I'm noticing most agents not even bothering to research these laws, rules and regulations yet are doing it anyway. It's only a matter of time before these guys being to get slapped with fines and risk charges and risking their licenses.

You need to act quickly and a loan mod is NOT and should not be your first option, find out what the foreclosure laws are in your state or contact a real estate broker or attorney that is familiar with foreclosure law and the process. In once the foreclosure process has begun and a sale date has been set, the home owner can postpone the sale by request twice and same for the lender, any further postponements must be done in court by a judges court order.

Resources for Anyone wanting to do loan mods how to search for what your states local laws are regulating them, just go to google and search the following terms and of course replace the state name with your state:

"foreclosure consultant statute" New Jersey
"foreclosure rescue fraud prevention act" new jersey
0 votes Thank Flag Link Fri Mar 27, 2009
Have you thought about calling your mortgage company and asking if they will allow you to go through with a short sale? Just be sure to contact your tax advisor as well if you take this option if it is one.

http://www.danielleyouragent.com
0 votes Thank Flag Link Wed Mar 18, 2009
I'm very sorry to hear about your situation! Yes, you have time to save your condo. Just because your sale date is the 4/16, it doesn't mean the lender wants your property back on that date, they just reserve the right to hold the trustee sale that day. There are many sales that are being postponed daily in attempt to work out new loan programs with the owners.

There are 2 important players in your situation you need to be in contact with, one is the trustee (their contact information will be on the notice of trustee sale you received) and the lender. Contact your lender immediately and attempt to work with them on a loan modification. They are the party who will notify the trustee to postpone the sale.

If interested, I have an associate who is very inexpensive and can help you with getting your loan modified.

Good luck!
Web Reference: http://www.jameswehner.com
0 votes Thank Flag Link Wed Mar 18, 2009
There definately should be time. My best guidance is to stay away from the investor/we buy houses type of people. NEVER sign a "$10 option contract". Choose an experienced and reputable Realtor team, at least a realtor team is regulated by law.

We screen all of our agents and ask that they sign an ethics agreement
0 votes Thank Flag Link Tue Mar 17, 2009
Jill,

Saving your condo is a very real possibility if you choose to work with the right team of people. Anyone who believes they can make money off of your situation will tell you what you want to hear in order to lead you in a direction that they want you to go. Choose to work with a seasoned team of experts that can provide real solutions to your housing problem.

I would call multiple investment companies that specialize in foreclosures, and short sales to learn about what options are available to you. YOU ONLY HAVE ONE SHOT AT GETTING THIS RIGHT BEFORE YOU LOSE YOUR HOME! Make sure that those who you decide to work with have many good referrals and are not pushy! We are Arizona's #1 Cash For Houses websites and have helped many homeowners save their houses. Go to http://www.sellquickforcash.com/whatwedo.htm and shop us around compared to our competition. Our offers and reputation will stand up to the test.

***Check out Option #3***

Best Regards,
SellQuickForCash.com Team
0 votes Thank Flag Link Mon Mar 10, 2008
Jill, I specilize in loss mitigation with home owners saving their home. Go to resourceaz..com and click on Foreclosure, download the financial form and click on foreclosure relief. I built a e-book on how to save yourself on foreclosure, its free. Tamra
0 votes Thank Flag Link Fri Mar 7, 2008
Definately true. No one better than a Realtor to help. Depending on your situation, lenders are wililng to help but within reason. So be sure to ask the right questions.
0 votes Thank Flag Link Sun Mar 2, 2008
Jill,
You definitely can. Talk to your lender first. They will explain to you what and when you can do. Most lenders are trying to avoid foreclosures as much as possible, so they will go out of their way to help you. I am sure that you might get a lot of offers to help. Make sure that you understand what is offered and why. Check references and don't give away your personal information unless you know that sources offering help are legitimate.
Web Reference: http://www.cimpler.com
0 votes Thank Flag Link Sun Mar 2, 2008
ARTUR URBANS…, Real Estate Pro in Burlingame, CA
MVP'08
Contact
Yes you do have time. I'd be interested in looking at it and possibly buying if you are interested in selling, but need more information. Please go to my site at http://www.musthaveinvestments.net and submit your properties information asap. We can get this started immediately. Thanks,
0 votes Thank Flag Link Sun Mar 2, 2008
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