Well having been through this myself recently in Bethany I would suggest you give me a call. Your not going to be able to solve this here online. A lawyer is not going to be able to do much. But with some luck you can pull this one together. Bless you folks. This is not fun!... more
Did they ever fully explain to you why they wanted you to complete and submit a W-9 form? I think the next step that needs to be taken is getting in contact with them and having a meeting where you can ask questions to ease your uncertainty. After you have met with them then you can make the best decision possible, have you considered talking to some financial counselors? I wish you the best of luck in your current situation.
George Puzo | http://www.wagnerlawofficepc.com... more
what property are you talking about? an address will help. text me if you can 503-984-3485 and if the property is listed why not. if it's just something Trulia shows as "foreclosed" but not listed yet I can search for more details. thnx.... more
Not impossible to find a home to rent. Many people only have 1 or 2 homes that you are renting. So best to look on Craigslist or another site that has a lot of rentals and find someone who is willing to hear you out. Not everyone renting a home is a big business - find a local owner.... more
I had a buyer that wanted to buy a home in Arizona, but he had a Chapter 7 bankruptcy 7 months ago. After researching the web I found a loan program at http://www.cfsflex.com, they allow a mortgage after a foreclosure, short sale, or bankruptcy. There is only a six month waiting period. Good to see lending options coming back.... more
I had a client get $10,000 to move after they lived rent free for 2 years with an attorney going to court every few months to ask who had the promissory note? Tom Inglesby Broker, RE/MAX Equity Group... more
Linda HAFA shorts schange over time, the government may decide not to cover different things. At one time Iwas haveing problems getting the transfer fee paid a it was considered a tax and the government refused to pay a local tax.... more
What makes you think they have no clue on condition? It's a bank owned foreclosure and they are selling "AS IS." If it's priced to sell, with the conditions known and unknown it might be a great investment opporunity for some savvy, lucky buyer.
The inspector quoted prices on repairs?!? There's a few inspectors floating around Portland who are notorious for doing this and . . . killing deals. I've had the same deal killer inspector on two bank owned properties who not only quoted outlandish prices for repairs, but just coincidentally had a list of his buddies that could do the work. He handed the names and contacts of his buddies to my clients. I found it borderline, if not entirely, unethical. Let me guess, while Mr. Home Inspector was quoting prices out of one side of his face, he was probably telling you all about the guy he knows out of the other and giving you their contact numbers.
The best inspectors offer unbiased reporting on the condition of the property and they aren't out trying to sub-contract work for their buddies, IMHO.
The property is currently priced at 1999 level pricing. When I represent my clients and if a property has over $100,000 in repairs (and I'm taking the home inspector's "quote" with a grain of salt) . . . I notice the stuff that's wrong. How could I not?? I'm not blind. My buyers aren't blind either. $100,000 in repairs is a lot to NOT notice. So my clients and I have the dicussion PRIOR to writing up an offer on an AS IS property. If they don't have the funds or wherewithal to do the fxing, then we pass. End of story.... more
This got posted in the Portland, Oregon questions. Did you notice if they were on an "auction" site? Not know the standard of practice in any area outside my local market, perhaps this is a way of starting out?... more
There are no limitations on who can purchase a short sale. All the bank cares about is the color of your money. Though many real estate agents have gone through some course and claim to be short sale experts, Ive found that you are best served by paying a true expert who has done nothing but loss mitigation and short sale negotiating for private buyers and clients of real estate brokers.
As a former 30 year mortgage company owner, I recommend Metro Mortgage Consultings Bill Kimmer. Contact me if you want his information---I dont want his email or phone here to be spammed. I will not try to solicit your business, as I dont take personal interests in mind when making a recommendation.
There is a fee for this type of help but its worth its WELL worth it.... more
Not sure of the question, but if you are facing foreclosure you will not be able to sell your house for money money than you owe unless someone is willing to step up and pay off all the debts on the property and that is probably more than the house is worth. If you just bought a house that was under foreclosure and now think you can auction it off for a higher price you will not really be able to do that either. So if you could explain what you are trying to do maybe we all could give better answers. The market is tight and buyers are smart so even with few listings the buyers are not buying property that is over valued.
Tom Inglesby, Broker
RE/MAX Equity Group
Cash for keys in a short sale situation only falls under HAFA rules. I usually don't self-aggrandize on these public websites, but I am HAFA-certified ands can at least tell you what your options area, if it's not too late.... more