I am figuring you posted the question thinking the listing agent was going to receive it, instead your question posted to the "general population" of Trulia and we have no idea what information is needed. Can you please explain how may I be of service?... more
Bargain with the mortgage lender to pay the closing costs. Mortgage companies are eager to sell their foreclosures and begin recouping their losses. Lenders are more open to negotiations if a property attracts little interest. Talk to the lender handling the foreclosure, and ask them to pay the closing costs to eliminate your out of pocket expense.
The foreclosure process followed by any bank depends on the state's foreclosure laws. Depending on where you are located, find the stat's foreclosure laws and that should help you with the process. For more info about Wells Fargo floreclosure process, check out: http://ForeclosureIQ.com... more
The owner is supposed to pay property taxes even though he's about to lose his home at the end of the foreclosure, through a public auction. Until someone else becomes the home's owner, the owner gets the bill for taxes. Whether the owner pays the taxes is another thing entirely. Usually, since the owner can't pay the mortgage, he doesn't pay the taxes either. If the lender fronted the tax money during the foreclosure proceedings to protect its investment, the home might be current on taxes.
You cannot contact HSBC directly, they will not deal with you. They hired the real estate agent to sell the home so that is who you will deal with. If you do not have your own agent, you should.
If the home is being sold through the auction site, then that is how you will have to purchase it. It does not matter why they have chosen to auction it. Chances are they chose to auction it because someone convinced someone at HSBC that this is a better option for them, period.
By the way, if you were taking ownership of a property that had existing liens on it, such as an inheritance, a title company would provide you with the information about the existing incumberances. In an inherritance situation, it makes sence to pay for the title report. And if you are buying a property, you have to pay for a title report anyway, and likely title insurance. So this takes care of any issues that may arise because of outstanding liens.
The Colorado Foreclosure Protection Act governs the business practices of "foreclosure consultants" and "equity purchasers" as defined by the statute, bans upfront fees and sets forth minimum contract requirements for agreements between homeowners and these parties. http://ForeclosureIQ.com... more
Buying at the court house auction or through sheriff sale is risky but you can get great deals. The catch is you have to have all cash, its as is and you get NO contract. Once you are confirmed as the highest bidder after the 10 day upset bid period is over then you get a UPS over night package stating when you have to close by (normally 21 days) and how much you need to pay. You must also be aware that buying at the court house steps you do have to pay the excise tax and any unpaid real estate taxes. Be sure that you are bidding on the first lien mortgage and not any junior liens. A title search is the absolute best thing you can have done to determine all of this http://ForeclosureIQ.com... more
A deed in lieu of foreclosure has advantages for both a borrower and a lender; mainly the avoidance of time consuming and costly foreclosure proceedings. In addition, the borrower avoids some public notoriety, and may even be able to lease the property back from the lender.
REOs and FORECLOSUREs are not the same thing, however an REO is only produced as a result of an unsuccessful foreclosure, in which a buyer for the property cannot be found, and so the mortgage lender repossesses the property to sell separately.
A pre-foreclosure home is any home the home owner has defaulted on their mortgage. After a home owner has missed three consecutive mortgage payments the bank starts the foreclosure process. There are many steps that have to be taken for the bank to foreclosure on a property and each state the process varies. Until the foreclosure sale is executed the home is in a pre-foreclosure status.
Websites like Realty Trac and Foreclosure.com provide the very latest foreclosure listings for those who are currently looking for a new home to buy that went through foreclosure proceedings. For a comprehensive list, read foreclosure website reviews on our site - http://ForeclosureIQ.com... more
Having the right pricing strategy is an area that cleaning business owners struggle with the most. One on hand, you will want to make sure prices for your services are competitive. On the other hand, you need to make sure you generate profit so that your business continues to grow. For residential foreclosure cleaning services, the pricing method used is usually by the hour.
Reference: http://ForeclosureIQ.com... more