Government Tax Foreclosure Sale All Locations : Advice

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Mainstreet R…, Real Estate Pro in 91730
Mainstreet Realtors answered:
Can I do a short sale if I don't have a hardship?
Hello Cathy, there are many reasons why a homeowner may have to list a property for sale. Even though a hardship is definitely the most common reason to request of lenders to accept a ... more
0 votes Share Flag Sat Sep 17, 2011 Home Selling in Montclair
Lenny Frolov, Real Estate Pro in Minneapolis, MN
Lenny Frolov answered:
Why do people keep saying the banks are the losers if homes go into foreclosure??
You are correct that the homeowner takes a hit on a foreclosure as well but monetarily speaking the banks typically lose much more. With property values down and the length of time it t ... more
0 votes Share Flag Sat Feb 21, 2015 Home Selling in 55391
Jeanne (Geni…, Real Estate Pro in Virginia Beach, VA
Jeanne (Genie) Barfield answered:
Would the real estate market ever return to near the highs before the crash?
You do not have to go too far to find out some information:
This is as good as information you are going to get. I ... more
0 votes Share Flag Wed Apr 11, 2012 Market Conditions in San Jose
Alex Lopez, Real Estate Pro in South Florida, FL
Alex Lopez answered:
How much would you be comfortable buying a house for?
The best and easiest rule of thumb is that you should buy a house for 2 to 2.5 times your gross annual income (up to $325,000 for you), and no more than that.

However, since interes ... more
0 votes Share Flag Wed Oct 17, 2012 Home Buying in 07054
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
Should I walk from my upside down mortgage since I have a reasonable place to go?
Ethics aside? Yes, maybe your user name IS appropriate.

You don't explain how moving into your dad's property will help your dad. If he owns it and there's positive eq ... more
0 votes Share Flag Thu May 9, 2013 Foreclosure in Warren
Roy D. Barker…, Real Estate Pro in Coconut Creek, FL
Roy D. Barker, Jr answered:
i cant afford my mortage payment would i be able to do a short sale
Hi Badoblue,

Probably. The banks are easing up a bit on the short sale restrictions because the courts are getting tired of being bogged down by foreclosures.

Again you have to ... more
0 votes Share Flag Fri Nov 4, 2011 Home Buying in Temecula
Voices Member,  in
Voices Member answered:
Can the debt be forgiven by the bank on a short sale?
A Short sale is when the bank will accept less than what the borrower owes on the loan then the REMAINING amount is forgiven debt. However, the borrower will owe taxes on the amount fo ... more
0 votes Share Flag Thu Sep 1, 2011 Home Selling in 29212
Daniel Sando…, Real Estate Pro in Long Beach, CA
Daniel Sandoval answered:
House is 40% underwater. We can afford payments, but PITI is 36% of net income. Would love advice on best exit strategy.?
Hello i suggest to do a short sale but keep current. Certain banks do allow a short sale even current as long is there a good hardship involve. The 2nd lien was used as purchase money s ... more
0 votes Share Flag Sat Sep 7, 2013 Foreclosure in 90807
Dan Tabit, Real Estate Pro in Sammamish, WA
Dan Tabit answered:
I foreclosed on a home last year and I am renting a home now.I was wondering if it is possible for me to buy a home with a down payment?
Possible... maybe but not with conventional financing. Generally after a foreclosure conventional financing is not available for 5 years. Lenders want you to get fully re ... more
0 votes Share Flag Tue Feb 21, 2012 Home Buying in Menifee
Diane Taylor, Real Estate Pro in Maryland
Diane Taylor answered:
My mortgage is underwater but still interested in buying a home

I would definitely talk with a lender - if you want to rent out your current home there are guidelines with regard as to what the lender will count, if anything and you have t ... more
0 votes Share Flag Tue Aug 30, 2011 Home Selling in Howard County
Barbara Rich…, Real Estate Pro in Las Vegas, NV
Barbara Richie answered:
Is anyone familiar with a company called 'USA Home Buyer"? They will b ... facing foreclosure or underwater mortgages.Thanks for ...
Hi Naynay,

I'm sending you a link to a website called National Information Center. I'm afraid you'll have to copy and paste as it didn't copy as a hyperlink. So ... more
0 votes Share Flag Thu Jul 25, 2013 Home Selling in Las Vegas
Anthony Cava…, Real Estate Pro in Channahon, IL
Anthony Cavalea IV answered:
What happens if I foreclose on my house and I have a second mortagage/ Is it bet ... sale? ...
If your home gets foreclosed on the second mortgagee no longer has security on the loan. However, both lenders can come after you for a deficiency. Usually in a short sale, the lender a ... more
0 votes Share Flag Sun Apr 7, 2013 Foreclosure in 60901
Molly Farmer, Real Estate Pro in Alton, IL
Molly Farmer answered:
Can home owner's do their own short sale bypassing realtors? Can owners stay in their home after sho ...
Unfortunately, an owner cannot stay in the home after a short sale, as you will be selling it to someone
and they will want the home they just bought. Also, most all banks/lending inst ... more
0 votes Share Flag Thu Aug 25, 2011 Foreclosure in Fairview Heights
Tracey Simms, Real Estate Pro in Harford County, MD
Tracey Simms answered:
is there a 1st time home owner credit to use on your 2012 taxes?
No, there is not a 1rst time home buyer tax credit currently in effect
0 votes Share Flag Sun Feb 5, 2012 Home Buying in 20743
Joe Cusumano, Real Estate Pro in Riverside, CA
Joe Cusumano answered:
Why do appraisers not have to consider as value when banks foreclose and are paid the Private Mortgage Insurance.?
The short answer is that it is impossible to know what their logic is. It really depends on the investor who holds the loan. If they have pmi they are more opt. To foreclose if they ne ... more
0 votes Share Flag Mon Aug 22, 2011 Home Selling in 93703
Betty D. Kerr…, Real Estate Pro in 92886
Betty D. Kerr, CRS, GRI, SRES answered:
If I have to do a short sale on my home, will I have to pay the difference between the selling price &am ...
If you have defaulted on your mortgage loan and can no longer afford to make your payments, you could still owe money if your house goes into foreclosure. Most homeowners believe once t ... more
0 votes Share Flag Fri Apr 27, 2012 Home Selling in Seattle
Jeanne (Geni…, Real Estate Pro in Virginia Beach, VA
Jeanne (Genie) Barfield answered:
Looking for a short sale expert in the San Jose Bay Area.
Contact this agent.
0 votes Share Flag Mon Dec 12, 2011 Foreclosure in San Jose
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
0 votes Share Flag Fri Apr 20, 2012 Foreclosure in Denver
Ron Thomas, Real Estate Pro in Fresno, CA
Ron Thomas answered:
I would like to sell my single family house, but would need to bring money to close, what are my options ?
Complicated Phil;
First of all, are you flexible about doing this NOW?
You sound like you could handle the Mortgage payment now, and don't really have a HARDSHIP; you just " ... more
0 votes Share Flag Wed Aug 10, 2011 Home Selling in Perkasie
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