Foreclosure in Wisconsin : Questions & Answers

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Karen Peyton, Real Estate Pro in Chandler, AZ
Karen Peyton answered:
What are my options when upside down on a mortgage?
Three ways out of ownership are to: short sale the house, ask the bank to accept a Deed In Lieu of Foreclosure, or allow the house to be foreclosed.

Generally speaking, mortgage paym ... more
1 vote Share Flag Mon May 18, 2015 Foreclosure in Beloit
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
My lender has been calling me 5x a day regarding my house in foreclosure I have been waiting on my disability I could not modify or they denied it
You should have hired a lawyer the minute you found out it was in foreclosure. At this point you should still contact one for a review of your case and make sure the bank did everything ... more
0 votes Share Flag Thu May 14, 2015 Foreclosure in Wisconsin
Independntgrl, Home Buyer in Milwaukee, WI
Independntgrl answered:
FHA loan denied due to Foreclosure
Hi,

I am really surprised at this and it was even allowed to happen. First I was a lender for over 20 year and when I left Wells Fargo bank the systems would not generate a preapprov ... more
0 votes Share Flag Thu May 14, 2015 Foreclosure in 53081
RonS, Real Estate Pro in Concord, CA
RonS answered:
How to stop Fannie Mae from making a horrible purchase and investment decision in a rundown property?
Why are you even bothering with this? You are trying to help Fannie Mae? To stop them from making a bad decision? Sorry, that's laughable. Oh...I see, it's because YOU want it. Geez.
... more
0 votes Share Flag Tue Apr 14, 2015 Foreclosure in Platteville
Moore06rl, Home Buyer in Elkton, MD
Moore06rl answered:
are a mortgage holder's foreclosure costs tax deductible?
Are forclosure fees tax deductable by home owner
0 votes Share Flag Wed Apr 8, 2015 Foreclosure in 53188
Richard Moen, Real Estate Pro in Watertown, WI
Richard Moen answered:
Foreclosure question about 1st and 2nd mortgages and procedures.
Jon,

You state the 2nd is secured by personal property, not real property so the two are most likely not related. That being said, it is unusual for a HELOC to be secured by anything ... more
0 votes Share Flag Fri Feb 27, 2015 Foreclosure in Wisconsin
Richard Moen, Real Estate Pro in Watertown, WI
Richard Moen answered:
How do I get more information about foreclosed homes shown on Trulia that don't have an address listed?
Dave,
There are currently 84 homes listed in 53212 zip code. As for foreclosures on the public sites without addresses, Dan is absolutely correct, Realty Trac wants your money. Many ... more
0 votes Share Flag Fri Feb 27, 2015 Foreclosure in 53213
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
We are part of a condo association where one owner is foreclosing. ALL of the unit owners were listed as defendants in the case. Are we all liable?
Rikarak,
Great question for an attorney. You'll need to figure out who is foreclosing and why, what they want and what type of HOA you have and who is protecting you. This is a lega ... more
0 votes Share Flag Fri Feb 20, 2015 Foreclosure in 53188
Derrick Sly, Home Buyer in Albuquerque, NM
Derrick Sly answered:
what happens to a senior going to assisted living who owes more on the house he owns than it can sell for?
I know there are accountants and attorneys who deal in this kind of thing. Each situation is different. Sometimes there are assets that can be applied towards the loan that you may not ... more
0 votes Share Flag Fri Dec 19, 2014 Foreclosure in Wisconsin
Dan Tabit, Real Estate Pro in 98074
Dan Tabit answered:
how do i get a list of forclosures?
Neverstcefrep,
A great local agent can provide this for you. Repossessed homes, also known as REO's (real estate owned) are typically listed by a local agent and can be found on most ... more
0 votes Share Flag Tue Oct 7, 2014 Foreclosure in Neenah
Ray Wrobel WI…, Real Estate Pro in La Crosse, WI
Ray Wrobel WI Broker answered:
I'm looking for a not too pricy home for sale or rent in la crosse are
Not a problem. There are a lot of nice homes priced to sell. I would recommend contacting me and I can start searching for you right away. I don't currently have any rental homes, sorry ... more
0 votes Share Flag Tue Jul 1, 2014 Foreclosure in La Crosse
Erika Barron, Home Buyer in Milwaukee, WI
Erika Barron answered:
Hi I'm Erika barron 414 89769 49
What is the address.... Thank you
0 votes Share Flag Thu Jun 12, 2014 Foreclosure in Polonia
Allbusinessxx, Home Buyer in Council Bluffs, IA
Allbusinessxx answered:
I am looking to get out of the rental real estate business due to family issues.
would you send a list of proerties you want to dipose of to allbusinessxx@yahoo.com
0 votes Share Flag Thu Feb 20, 2014 Foreclosure in Milwaukee
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
I was foreclosed on in Sept.2013. When I had my taxes done I was told that I owed $12,700 to the State of Wisconsin on the $188,000 that I owed.?
It will depend on a number of factors. Speaking to a cpa and or tax attornney may be needed to see if you qualify for IRS debt forgiveness and if your state has a state tax you may be l ... more
0 votes Share Flag Fri Feb 7, 2014 Foreclosure in Appleton
Linda Zivney, Real Estate Pro in Madison, WI
Linda Zivney answered:
Can someone please explain the REO process if a property does not sell at auction? Significant price drop on foreclosed home??
Great question!
When a property does not sell at the Sheriff's sae, it becomes an REO, Real Estate Owned by the lender.
The lender typically has the property appraised, winterized an ... more
0 votes Share Flag Wed Dec 18, 2013 Foreclosure in Madison
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