At this time the only lots available in Allen to build on are for commercial purposes not residential.In ln Lucas and Parker there are 42 residential lots available for sale. I hope that helps with your question.... more
Unless all the documents been reviewed difficult to render an opinion. Is there a contact number for you to call? In most instances the bank gives cash for keys within a certain time period if you move out.
However I would not risk .
I work with many families in leasing homes here in Dallas area
It is the same as a Notice Of Foreclosure Sale. It is a notice announcing the public sale of a particular property. This notice is mailed to the parties affected by the sale and it's posted in the local publications. The notice will post what day and where the auction will take place.
It is possible that the property doesn't sell during that time. Sometimes, the owners are able to do a modification or just catch up on their payments and the house doen't make it to the sale. If the sale takes place, the new owner will have the option of evicting the occupants or make arrangements for a rental. It would all depend on what the new owner intends to do.
The chances that the mortgage company will let the tenants stay in the house are null. Banks are not in the property management business. They would rather have the house empty for years, let it get vandalized etc. than have a paying tenant stay in the house.
I think you have been lucky to get your security deposit back. Many people in your shoes have not been able to get even that back.
May be you can work out a deal with the new owners where they can give you a few weeks to move out and that would cover the monies paid that you won't get back.
If you want to pursue that further, you may want to hire an attorney.
If your home is included in a bankruptcy, the attorney will have to approve the sale. I have sold homes in the past that were included in a bankruptcy without any problems. You would just need to put in "special provisions" of any contract that the sale is contingent upon approval from the bankruptcy court, which could cause a short delay.
If I can answer any other questions or assist you with your sale, please contact me at 972.468.5136.
Your real estate resource,
Amy Downs, Realtor
Keller Williams Realty
Eventually the new owner/bank will proceed with standard eviction processes. Typically they will try all normal means to get a hold of the tenant. If they fail, they will have a constable put a 3 day notice on the door and after three days everything will be moved out.
The thing is every bank moves at different paces, I have heard from most of them that once they get the house back this process can take anywhere from 2 weeks to 6 months.
hope this helps
Never make that assumption! It may take the tax appraisal much longer to update their tax records. It takes the title company 2-4 weeks just to process the lien paperwork of the new buyer - whether its a buyer or its the lender buying it back.... more
It really depends on your income and whether you can go full doc (show income taxes, bank statements, etc.). on average, nowadays the banks want to see close to 25% down with excellent credit score, full doc. If you can show that you are going to RENT this house, and you already have a good tenant in place for it with a good credit and capable of paying the market rent, then your chances would be much higher to get a loan. Keep in mind that you will not get the prime rate since this is a second home.... more
PreForeclosure is PRE---or before the foreclosure. Investors typically work these when they see the home appear on the foreclosure list. Maybe the person needs out, maybe you can help them. Maybe you can purchase the home and rent it back to them. Maybe you can take over their payments. Lots of different plays. Foreclosures are after the bank or another bidder has purchased the property after the auction on the courthouse steps or by some other means. Typically then you are dealing directly with the bank or note holder at that point and the person in the house is already gone. Are you looking to buy a home to live in or for investment. We can assist you with foreclosures and there is lots of free information on my website.... more