Government Tax Foreclosure Properties All Locations : Advice

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Anthony Cava…, Real Estate Pro in Channahon, IL
Anthony Cavalea IV answered:
I am stuck owning an underwater house I do not live in and do not want. How best to sell it?
1) Rental. Are you getting market value for the rental? Is an agent helping you with it? Would you like me to check rental prices of similar homes in your area? (Please call or email me ... more
0 votes Share Flag Tue Sep 4, 2012 Home Selling in 60490
Derrek S. Pa…, Real Estate Pro in Highlands Ranch, CO
Derrek S. Patrick answered:
I want to foreclose on my condo but I am not sure if it is my best option. I am almost $40,000 in the hole, my HOA's are now a whooping $380
Short selling may be a better option for you. Contact me and we can discuss your situation.

Derrek S. Patrick
303-470-9880
derrek.patrick@coloradohomes.com
0 votes Share Flag Fri Apr 20, 2012 Foreclosure in Denver
Larry Tollen, Real Estate Pro in Durham, NC
Larry Tollen answered:
I was old a lemon...invested over 40k on supposedly rehabbed home...still needs ... ..thinking of short sale or foreclosure ..whats best.. ...
You need to speak to a real estate lawyer and/or your financial adviser to discuss long-term ramifications and to understand how short-sales work in Illinois.

If they suggest forecl ... more
0 votes Share Flag Thu Aug 11, 2011 Foreclosure in Chicago
Frank, Real Estate Pro in Madison, WI
Frank answered:
I got my condo with a WHEDA mortgage. Now I'd like to rent it out -- can I?
Richard - IRS Tax Code which governs Tax-Exempt Mortgage Revenue Bonds (MRB), which was WHEDA's source of funds at that time, require that real estate financed with proceeds of a M ... more
0 votes Share Flag Tue Mar 11, 2014 Financing in 53590
Gerard J. Ca…, Real Estate Pro in Spring Hill, FL
Gerard J. Carney answered:
will real estate still go down in value or it has stabilise in value?
Real Estate here in Florida is stabilizing!
0 votes Share Flag Fri Feb 8, 2013 Home Buying in 94517
Laura Gianno…, Real Estate Pro in New Jersey
Laura Giannotta answered:
Must there be an offer from a buyer to start the short sale process?
It depends on the bank. The short sale agent should get the mortgage authorization into the lender immediately, and start putting together the required paperwork.

Some banks, Well ... more
0 votes Share Flag Wed Aug 3, 2011 Home Buying in 08081
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Bank stopped responding less than 24 hours before close of short sale? What's the best way to re-establish contact? And, any legal recourse?
Forgive me for not understanding: Did "she" (I presume this is the Seller's Agent) re-send the paperwork or not? How do you know?

Where is your Agent in all this mess ... more
0 votes Share Flag Thu Jul 7, 2011 Home Buying in 76137
Sara Mehrpou…, Real Estate Pro in 91403
Sara Mehrpouyan answered:
What % of short sales get approved by banks? I'd like to sell my 2BD, 2BA condo in 90802. Underwater quite a bit. (1 Mortgage, Fixed APR).
It can be anything such as reduced hours at work/reduced income, double income turned into single income, illness, etc. The fact that potential rent will not cover the mortgage payment, ... more
0 votes Share Flag Mon Mar 10, 2014 Home Selling in Long Beach
Nicole Raffe…, Real Estate Pro in Greensboro, NC
Nicole Rafferty answered:
I don't want my house anymore. Help!!
Has your agent spoken to the bank to get the short sale process started? Have they given you a price to put it on the market at or are you just waiting for an offer? Short sales are not ... more
0 votes Share Flag Sat Jul 27, 2013 Home Selling in Winston Salem
Tammy Sanders, Real Estate Pro in Wilmington, NC
Tammy Sanders answered:
what if you owe 78,661.72 on your house and your vaule only is 77,200.25 what shouldwe do aand it renter property
You should call an expert for advice! I have over 25 years experience, sales and rentals! It's Friday night! July 4th weekend. Think you can reach an agent, probably not but you ... more
0 votes Share Flag Sat Jul 2, 2011 Home Selling in Wilmington
Laura Feghali, Real Estate Pro in Stamford, CT
Laura Feghali answered:
Would you know why the banks ae holding on to foreclosure homes instead of liquidating them?
Hi Lili,
Many banks got into trouble with the federal government for robo-signing properties for foreclosure. This means that they did not thoroughly research the properties before ... more
0 votes Share Flag Sun Jan 27, 2013 Foreclosure in 30331
Shanna Rogers, Real Estate Pro in Murrieta, CA
Shanna Rogers answered:
does a short sale take a long time to process?
Hi Sue,

Short Sales can be very time consuming. First the seller has to accept the offer and then it is forwarded to the lender(s)/investor(s) for approval. Once the offer is appro ... more
0 votes Share Flag Mon Jun 27, 2011 Home Buying in 28269
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
How much time do I have to stay in home after foreclosure sale - Wells Fargo owns note on house. How to f ...
It depends if the house was sold at auction to someone or if the bank took the house back at foreclsoure auction. If an investor bought it, they may be stricter than the bank with filin ... more
0 votes Share Flag Wed May 2, 2012 Foreclosure in Plaza
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
how to sell a below market home during divorce?
In order to best protect yourself consult with your attorney beforehand, and see exactly what options you may have; a short sale could be one of those options...
0 votes Share Flag Sat Jun 25, 2011 Home Selling in 22152
Fred Glick, Real Estate Pro in Los Angeles, CA
Fred Glick answered:
I am thinking of allowing my rental property to go into foreclosure. I have been regular with my primary r ...
Hi Cristina,

This will affect your credit for years to come if it goes into foreclosure.

Try to list the property and have it go through a short sale first. This way would be the ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in Los Angeles
Mott Kornicki, Real Estate Pro in 33154
Mott Kornicki answered:
How do I report a possible short sale scam?
My suggestion is that you or your agent contact the broker or office manager and try to get the real scoop on what is going on. Ghere is no excuse for not returning calls. Also, check t ... more
0 votes Share Flag Fri Oct 25, 2013 Home Buying in 33324
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
Why would anyone buy this house (at ANY price)? Makes no sense.
If the house has been Forclosed, then it no longer has 2 mortgages. In a lot of States, Tax Liens do not stay with the property, they belong to last owner, (unfortunately, the losing ho ... more
0 votes Share Flag Mon Jun 3, 2013 Foreclosure in Naples
James, Real Estate Pro in Columbia, SC
James answered:
if my wife has a foreclosure on her credit can i get a loan for a new home using my credit without hers ...
Yes you can get a loan with out your wife but you can only count your income to the debt to loan value ratio.
0 votes Share Flag Mon May 13, 2013 Financing in Murrieta
Mack McCoy, Real Estate Pro in Seattle, WA
Mack McCoy answered:
I'd love to hear from other Realtors: what are today's Homebuyers biggest concerns about the current market?
They don't seem to have any, Katherine; they're looking to buy with low prices and low interest rates!
0 votes Share Flag Mon Jun 6, 2011 Home Buying in 01890
Melissa Towb…, Real Estate Pro in Las Vegas, NV
Melissa Towbin answered:
I'm a disabled individual with good (if not better) credit looking to pre-qua for an FHA loan, but I have a hard time leaving my apartment. Any?
Good Morning Ryan,
Maybe you would feel comfortable talking with the bank you have accounts with. They do pre-quals over the phone. I have heard many banks don't finance under 5 ... more
0 votes Share Flag Fri May 20, 2011 Home Buying in Las Vegas
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