Teddy Jagessar

I'm a:	Real Estate Professional
Company:	Keyes Company/Realtors
Location:	Wellington
Phone:	(561) 452-5963

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Teddy Jagess…'s Questions (0)

Teddy Jagess…'s Answers (5)

Will a bank come after a borrower for the difference on a foreclosure?

Asked Tue Jun 17 2008, 09:33 by Stephanie - 33403 - Foreclosure - 10 answers

Teddy Jagessar answered:

I take it that you are refering to a "Foreclosure" where the Lender as taken the property as opposed to a "Pre-Foreclosure in which the property is still the yours but you stopped making payments and the lender has started the default process towards foreclosure. In Florida a Lender has up to FOUR YEARS to file a Dificency Judgement after the sale at the court steps. Some Lenders may not pursue this as they beleive that someone that lost their home would most likely ( at least visibly) not have an assets to go after, and the Lender would have to spend thousands in legal fees to get nothing. Also they are already overwhelmed with just foreclosing. But some may, remember unless your mortgage has an "exculpatory clause" the Lenders have this right to pursue a dificiency judgement. The best way to avoid a dificency judgement is to try and "Short Sale" the property or do a Loan Modification. It is too lenghty to explain everything in a forum. - Mon Oct 27 2008, 18:13

One week ago, I had signed up a contract for buying my dream home on a property which was a short sale. The

Asked Fri Jun 6 2008, 21:09 by Florinte - Boca Raton - Home Buying - 14 answers

Teddy Jagessar answered:

If the owner is up to date in payments forget it and move on as the Lender will have no motivation to accept less than the mortgage if the borrower has not defaulted they have plenty of defaulted borrowers to help out who are in default, this is common sense. Sorry to say but it is not fair to you or to the other buyers to be held hostage for a long time and giving false hope to all those buyers who may wait for months. (Remember there can only be one winning offer) - Sun Jun 29 2008, 20:35

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Asked Fri Jun 13 2008, 07:16 by Anne - Boca Raton - Home Buying - 9 answers

Teddy Jagessar answered:

Find a good agent and be patient in your search and be ready to buy when a deal comes up Get a pre approval ready from you lender make sure it is current . Bargains in Bank Owned Properties come up every week just have your agent do a daily search for you - Sun Jun 29 2008, 20:21

Short Sale: How much should you offer? I like a house (short sale) in Boca Raton that is listed for $ 285.

Asked Mon May 5 2008, 13:48 by Elena - 33486 - Home Buying - 5 answers

Teddy Jagessar answered:

Make an offer and do not be afraid to go 10 to 15 percent below what you would normally offer as it takes from 3 to as high as 7 or more months to get a counter or consideration and your off has to take a falling market into consideration . When the bank gives a number as their "NET" you can up the price if it makes sense then. If you are patient and can wait go for it if not consider a Bank Owned Property. Remember the Seller's agent will be happy to take any offer as IT TAKES AN OFFER TO START A SHORT SALE. - Sun Jun 29 2008, 20:13

how does one get list of bank owned foreclosed proerties in fl?

Asked Sat Mar 1 2008, 20:15 by Pravin Bhatt - Boca Raton - Foreclosure - 11 answers

Teddy Jagessar answered:

Since Banks list most of their Properties they own with with Realtors you can have a Realtor search the MLS for these properties. They can email you a list for the area you are interested in. I mostly do all Palm Beach County. - Thu Jun 19 2008, 19:56

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