Foreclosure in Milwaukee County : Real Estate Advice

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Matthew Heit…, Real Estate Pro in Stoughton, WI
Matthew Heitmann Team answered:
What is the best mortgage product for my situation?
Hi Becca,

Great question! Below is an article that I wrote some time ago. The best person to ask is a mortgage professional of course.

Best of Luck!
Michael Collins- SFR, BPOR
B ... more
0 votes Share Flag Tue Jan 15, 2013 Foreclosure in Milwaukee County
Chris Macisco, Real Estate Pro in Columbus, OH
Chris Macisco answered:
what does transfer value on a house mean?
The "transfer value" would be what the home most recently sold for/ transferred for according to the Auditors records . The Auditor also will have their accessed value which is generat ... more
0 votes Share Flag Fri Jan 11, 2013 Foreclosure in 53206
Dan Grunwaldt, Real Estate Pro in Milwaukee, WI
Dan Grunwaldt answered:
how do i find the auction house for a forclosed property?
Homes in foreclosure that make it to auction are typically auctioned by the sheriff's department of the county the property is located. If the property is already bank owned, properties ... more
0 votes Share Flag Wed Nov 14, 2012 Foreclosure in Wauwatosa
James Gordon…, Real Estate Pro in Hamilton, OH
James Gordon ABR SFR SRS answered:
I have fallen in love with a home that is bank owned.
You need to check with your Realtor® on these questions. They should not be hard to find out except for the how long has it beeen vacant question. No one has a clue on that.
0 votes Share Flag Tue Nov 6, 2012 Foreclosure in Oak Creek
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
The property i rent is in pre-foreclosure. do i have to still pay rent to the landlord?
Hi Curious71

Yes absolutely, otherwise the landlord can report you in default or on many landlord boards.
This could result in Bad Credit and or other Landlords not wishing to rent ... more
0 votes Share Flag Sun Jul 15, 2012 Foreclosure in 53210
Troy Miller, Real Estate Pro in Milwaukee, WI
Troy Miller answered:
I'm looking to buy a HomePath property, and noticed the very limited lenders for the renovation type - who's worked with them, and
Ryan,

My experience with renovation financing is limited but I'll share what I can. My buyer used Wells Fargo...it was their own re-hab loan similar to the home path in that al ... more
0 votes Share Flag Wed Feb 8, 2012 Foreclosure in Milwaukee County
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Tim Moore answered:
Can the owner who was foreclosed upon (sale confirmed) rent the property for a period until she finds home for her family?
It would be totally up to the new owner, often it is the bank that foreclosed so I doubt they would allow it, but you could ask.
0 votes Share Flag Thu Apr 21, 2011 Foreclosure in Milwaukee
Troy Miller, Real Estate Pro in Milwaukee, WI
Troy Miller answered:
I need to move from my condo as soon as possible. I have no desire to rent it out or the time to try to sell it. Can I give it back to the bank?
Tracy,

You will definitely want to seek the advice of an attorney for your question.

Please realize though you don't need to be here to sell. A local Realtor can take care ... more
0 votes Share Flag Wed Mar 16, 2011 Foreclosure in Milwaukee
Colleen Pros…, Real Estate Pro in Germantown, WI
Colleen Prostek answered:
was 8244 N 37th st Brown Deer wis 53209 on the market? Is it going to be for sale soon?Thank you
It appears this property has gone to Sheriffs sale Jan. 2011 which means this home will eventually go on the market the process takes awhile so it could be months before you see a sign ... more
0 votes Share Flag Wed Feb 23, 2011 Foreclosure in 53209
Ruth and Per…, Real Estate Pro in Los Gatos, CA
Ruth and Perry Mistry answered:
I purchase a home in 2008. It has decreased 46% since then. What are my options, in terms of maintaining my credit score to get rid of this property?
Actually, you bought at the beginning of the fall.

If you sell as a short sale , your credit gets hurt no options, unless you bought it a LLC or a C Corporation
or can find Lawyers ... more
0 votes Share Flag Tue Feb 8, 2011 Foreclosure in Hales Corners
Michael Emery,  in Minneapolis, MN
Michael Emery answered:
do i get 1099'd if the amount I owe is more than the foreclosed amount. I live in Wisconsin and it is my primary residence.
Yes, you will most likely receive a 1099 in that situation. However the mortgage forgiveness debt relief act of 2007 will most likely ensure that you will not owe taxes on the amount sh ... more
0 votes Share Flag Wed Jan 12, 2011 Foreclosure in 53211
Oscar & Judi…,  in Upland, CA
Oscar & Judith Dominguez answered:
I want to consider buying a foreclosure home in Wauwatosa, WI. How the heck do I see possible properties?
I would first tell you to get in touch with a local Realtor in your area then I would also tell you to look under the some of the banks websites they sometimes list their foreclosed inv ... more
0 votes Share Flag Fri Apr 8, 2011 Foreclosure in Wauwatosa
Brian French, Real Estate Pro in Beaver Dam, WI
Brian French answered:
WHAT DOES TRANSFER VALUE MEAN?
Need a little more information on this. Where are you seeing this term....maybe on the tax bill? Then this would represent the sale price (in thousands) multiplied by $3
0 votes Share Flag Tue Nov 30, 2010 Foreclosure in 53206
Larry Story, Real Estate Pro in Greensboro, NC
Larry Story answered:
I am looking to get out of the rental real estate business due to family issues.
Carlos,

It really is a matter of the difference in debt to purchase price. If the difference is not to much then yes a deal could be worked out otherwise if you did not want to purs ... more
0 votes Share Flag Thu Feb 20, 2014 Foreclosure in Milwaukee
Middleton And…, Real Estate Pro in La Jolla, CA
Middleton And Associates answered:
What should home owner be concerned with if they are doing a short sale? How does the first and second lien address their debt with the mortgagor/own?
With the 2007 Mortgage Relief Act, there are certain situations where the write off from the bank WILL NOT be considered taxable income, but it is NOT ALWAYs the case. Homeowners should ... more
0 votes Share Flag Mon Dec 28, 2009 Foreclosure in Milwaukee County
Tita Garcia, Real Estate Pro in Jacksonville, FL
Tita Garcia answered:
I am trying to buy a short sale? Should I rent the property?
Hi Kate,

Buying a short sale property takes a long process. The seller may have accepted your offer, but it is contingent on the lender's approval of the purchase offer, the t ... more
0 votes Share Flag Sun Aug 23, 2009 Foreclosure in Milwaukee County
Sarah Steelm…,  in Waukesha, WI
Sarah Steelman answered:
foclosed not in the same condition as when i made the offer on it what do i do
"AS IS" meaning the condition it was in when you made the offer and it was accepted. That's the purpose of the final walk-thru, to make sure eveything is in the same condition. Unles ... more
0 votes Share Flag Thu Apr 9, 2009 Foreclosure in Milwaukee
Bill Eckler, Real Estate Pro in Venice, FL
Bill Eckler answered:
Is it a good idea to offer MORE than asking price?
OC,

This is commonly done on foreclosure opportunities that represent the right home at the right price when buyers feel there may be multiple buyers interested in the property.

U ... more
0 votes Share Flag Sun Dec 27, 2009 Foreclosure in Oak Creek
Karen Wenzel,…, Real Estate Pro in Brookfield, WI
Karen Wenzel, e-PRO answered:
Is it a good idea to offer MORE than asking price?
OC -homebuyer-
The answer to that is "it depends". I assume your Realtor is providing you with some guidance and you are aware of comparable neighborhood property prices. As long as ... more
0 votes Share Flag Fri Jan 16, 2009 Foreclosure in Oak Creek
 None, Real Estate Pro in Summit, WI
None answered:
This property has been winterized since December, 2006. How can I find out why this house hasn't sold in?
Hello Jeff,

The quick answer is that the price isn't attractive to the right buyer.

Because foreclosures can be in very rough shape, the price needs to be attractive and the buye ... more
0 votes Share Flag Sun Jan 25, 2009 Foreclosure in 53220
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