Foreclosure in Michigan : Questions & Answers

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John Burke, Real Estate Pro in Austin, TX
John Burke answered:
If you had property foreclosed upon in the past 5 years, can you qualify for a mortgage loan?
Hi G,

It depends.

How long ago was the foreclosure and what type of loan was it?

Fannie Mae requires 7 years so that's not an option.

VA only requires a 2 year wait.

FHA ... more
0 votes Share Flag Yesterday at 12:54pm Foreclosure in 48125
Ryan Rivera, Real Estate Pro in Urbandale, IA
Ryan Rivera answered:
Due to circumstances out of my control, I'm losing my home of 20 years. I owe 103K. I've been told that I have a 6 month redemption period after the
It would be necessary for you to pay the full amount owed.
0 votes Share Flag Yesterday at 12:08pm Foreclosure in 48125
Tim Moore, Real Estate Pro in Nags Head, NC
Tim Moore answered:
A realtor just called me wanting to discuss options I have regarding the auction of my home which is scheduled in 2 days with an opening bid of 60K
What sort of auction? Foreclosure auction? Private auction? Online auction? They all advertise the upcoming auction so it's not hard to find. Online auctions advertise the opening bid a ... more
0 votes Share Flag Wed Feb 25, 2015 Foreclosure in 48125
Marti Wolf, Home Seller in Lakewood, CO
Marti Wolf answered:
I am real estate investor from Melbourne Australia, looking to invest in turn key properties in Detroit. Please call me on my mobile 001161433436725
Hi,

I am not sure if you have found what you are looking for but I have a turnkey within a mile or so of the golf course. Let me know if you are still looking.

Marti Wolf
303-601 ... more
0 votes Share Flag Tue Feb 24, 2015 Foreclosure in Birmingham
Jeffrey Parks, Real Estate Pro in 48438
Jeffrey Parks answered:
If the homeowner waives the right of redemption, does the home go right to foreclosure?
Short answer is yes. However, the instrument or document would be a "Deed in Lieu of foreclosure"
whereby the Homeowner would sign the property back to the mortgagee and have no furth ... more
0 votes Share Flag Mon Feb 23, 2015 Foreclosure in 48125
Sally Grenier, Real Estate Pro in Longmont, CO
Sally Grenier answered:
Is this on currently tenanted. How much is the rent. How much is required to buy it including all extra costs- taxes, leins, legal and gov. fees etc.
There was no link or address provided in your question. If you're looking to BUY something, then you should contact a local REALTOR. Most properties listed for rent here are usually sc ... more
0 votes Share Flag Mon Feb 23, 2015 Foreclosure in Jefferson Chalmers
Ryan K Kruit…, Real Estate Pro in Holland, MI
Ryan K Kruithoff answered:
our home went to the sherriffs sale on may 19, 2008. it did not sell during the short sale. my questionis,
You have 6 months after the sheriff sale to make good on the loan or sell to a buyer. Ryan K
0 votes Share Flag Sat Feb 21, 2015 Foreclosure in 49464
Brittany Sel…, Home Buyer in Detroit, MI
Brittany SellsHomes Walls answered:
How can I get involved in this business. I already have an existing business I'm looking to expand
Start at the bookstore to learn the ropes but get connected with the power players in the industry. Property management companies who acquire investment real estate is where you should ... more
0 votes Share Flag Thu Feb 19, 2015 Foreclosure in Detroit
Ryan K Kruit…, Real Estate Pro in Holland, MI
Ryan K Kruithoff answered:
if my credit is low but paying working on cleaning credit could I get a loan to buy a home with low payments that I could afford?
Its hard to know for sure if you can buy a house without looking at the details. Give me a call and we can look into if for you.

Ryan K
616-325-0749
0 votes Share Flag Wed Feb 18, 2015 Foreclosure in Zeeland
realtorjoesa…, Real Estate Pro in West Bloomfield, MI
realtorjoesamona answered:
I would like to see more pictures of this home.
I am a local Realtor. Please call me to discuss how I can help you through all of your real estate needs. I am a Certified Negotiation Expert!

Joe Samona
Real Estate One
248-675-9 ... more
0 votes Share Flag Tue Feb 17, 2015 Foreclosure in Bloomfield Hills
John A Goetz, Real Estate Pro in Ann Arbor, MI
John A Goetz answered:
i am interested in buy that property -Anna Buss
Which property? There's no address or link. Let me know and if I cannot help I'll get you an agent who can.
0 votes Share Flag Tue Feb 17, 2015 Foreclosure in Vicksburg
RonS, Real Estate Pro in Concord, CA
RonS answered:
This is a Wayne County MI question. How much time do I have to vacate the property when the 6 month redemption period ends?
if you are a "Valid" renter, with a valid lease, you get 90 days or the remaining term of the lease, whichever is longer, provided you continue to pay rent, before they can start the ev ... more
0 votes Share Flag Thu Feb 12, 2015 Foreclosure in 48192
Thescribners, Home Buyer in Sacramento, CA
Thescribners answered:
Can you take the vinyl fence from a foreclosed house before leaving?
not after the sale. It's called theft after the sale. before the sale you can bulldoze the thing but after the sale, you no longer own it.
0 votes Share Flag Wed Feb 11, 2015 Foreclosure in 48170
Ryan K Kruit…, Real Estate Pro in Holland, MI
Ryan K Kruithoff answered:
who pays closing costs on a foreclosed home?
Usually you can get the bank to pay all the closing costs in the state of Michigan. Ask your agent of lender to look into this for you. Ryan K
0 votes Share Flag Wed Feb 11, 2015 Foreclosure in Holland
Julie Bencos…, Real Estate Pro in 91024
Julie Bencosme answered:
Short sale vs Foreclosure?
Short sale it and make sure that verbage is in there that states that you will not be held liable for the balance of the loan that is being short paid. Your credit will recover faster ... more
0 votes Share Flag Tue Feb 10, 2015 Foreclosure in 49265
Lhancock, Home Buyer in Irving, TX
Lhancock asked:
Short sale vs Foreclosure? I am currently in redemption until May14,2015. I have an offer for possible short sale for less than amount on sheriff's sale. The mortgage company made a full bid at sheriff sale.…
0 votes Share Flag Tue Feb 10, 2015 Foreclosure in Michigan
calebhart54, Renter in Orem, UT
calebhart54 answered:
How cheap can you get a house that has black mold?
I'm sure it just depends on the appraisal. Some might appraise the home as less valuable because of the mold. Does the home have black mold right now? You should definitely get that tak ... more
0 votes Share Flag Thu Feb 5, 2015 Foreclosure in 48002
Arlene Campb…, Real Estate Pro in 12572
Arlene Campbell answered:
if the seller is eager to sell their property is it a good idea to ask them to pay for all closing costs?
It depends on your offer. If your offer is a low ball price and is below the price limit of the seller, then chances are the seller will not agree.

But --- you can always try. Worst ... more
0 votes Share Flag Sun Feb 1, 2015 Foreclosure in 48328
Diane Christ…, Real Estate Pro in Sarasota, FL
Diane Christner answered:
i am renting a house that just went into foreclosure i need to call the bank to see if i can still rent it?
If the bank has started the foreclosure process but not yet taken the home back, you are still obligated to make your monthly payments to your landlord. Once the bank does foreclose, y ... more
0 votes Share Flag Sat Jan 31, 2015 Foreclosure in 49038
Tina Lam, Real Estate Pro in San Jose, CA
Tina Lam answered:
Why is it so hard to get information on this property? Is it sold or what? I keep asking and not getting anywhere!
Which property? Foreclosures are hard to research.
0 votes Share Flag Fri Jan 30, 2015 Foreclosure in Fruitport
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