Foreclosure in Tucson : Questions & Answers

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Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
When bidding on a foreclosure, is the bank expecting the asking price or is it OK to bid lower?
This question posted Dec 2008

An evergreen question.
Over 80% of foreclosed homes are owned by 'FREDDIE' therefore have some similar protocols.
What is missing from the above quest ... more
0 votes Share Flag Fri Oct 10, 2014 Foreclosure in 85750
Minette Gold…, Real Estate Pro in Tucson, AZ
Minette Goldsmith answered:
Do we still have a chance to have Fannie Mae pay for our closing cost after our offer has been accepted?
While the "seller" may not assist you with the closing costs, you may be able to have the lender cover some of the costs. You might want to see if that is an option.

This informatio ... more
0 votes Share Flag Tue Jan 21, 2014 Foreclosure in Tucson
Minette Gold…, Real Estate Pro in Tucson, AZ
Minette Goldsmith answered:
how much do i have to put down?
Hi Esperanza, I am a lender and the realtors answers below are good. There are lots of programs out there so you have many options. Besides the no down payment USDA and VA loans, in Pi ... more
0 votes Share Flag Tue Nov 26, 2013 Foreclosure in 85746
Annette Lawr…, Real Estate Pro in Palm Harbor, FL
Annette Lawrence 727.420.4041 answered:
in arizona if you do a short sale and have a 401k can the bank of america take your 401k?
AZ Home Owner,
Your 401K, and the amount it contains will be available for the bank, and others, to observe.
-
The banks sees AZ Home Onwer has 111 miillion in that 401K and AZ Home ... more
0 votes Share Flag Mon Nov 25, 2013 Foreclosure in 85746
Kat Tyree, Real Estate Pro in 85641
Kat Tyree answered:
What to do with a swimming pool and landscaping before leaving our foreclosed home?
Cheryl,

It is nice to meet one of the many homeowners out there who have lost a home but want the very best for the property, and therefore, for the bank that loaned them the funds ... more
0 votes Share Flag Sun Sep 1, 2013 Foreclosure in 85711
Vivien L Big…, Real Estate Pro in Arizona
Vivien L Biggs PLC answered:
How hard is it to buy a home with a credit score 580. I can make the monthly payment is there company out there.
Hello George,

The Lender I work with, provides one of the best home purchase program in America. They provide FREE personalized and comprehensive counseling to Members to address you ... more
1 vote Share Flag Fri Aug 17, 2012 Foreclosure in Tucson
mtennyson, Real Estate Pro in Tucson, AZ
mtennyson answered:
Can Bank of Arizona go after personal assets if the is 'deficiency' after the sale of land that I own in Tucson?
The bottom line answer to your question is ... maybe.

During the process of the short sale, you will need to provide financial information to the bank that is as in-depth (if not mor ... more
1 vote Share Flag Mon Jul 30, 2012 Foreclosure in Tucson
jamescaulkins, Other/Just Looking in Tucson, AZ
jamescaulkins answered:
Can Bank of Arizona go after personal assets if the is 'deficiency' after the sale of land that I own in Tucson?
Thank you both for the advice.

Tim - The link you sent seems to discuss residential homes. Does the Arizona's "anti-deficiency" statutes apply to land as well? Obviously it is not ... more
0 votes Share Flag Mon Jul 30, 2012 Foreclosure in Tucson
Jerimiah Tay…, Real Estate Pro in Tucson, AZ
Jerimiah Taylor answered:
I am underwater on my mortgage and loosing my job. Can the bank garnish my wages for the differnce owed and sold for at auction? I'm in Arizona
Anyone that says Arizona is a non recourse state is doing a huge dis-service. If its a va loan it's recourse if it's USDA it's recourse if it was a cash out refi it' ... more
0 votes Share Flag Fri Jun 29, 2012 Foreclosure in Tucson
Eddie Holmes, Real Estate Pro in Tucson, AZ
Eddie Holmes answered:
What is the easiest way to find foreclosures on multi-family housing in this market?
The best way is to contact a Realtor. There is no obligation and the services are usually no charge because the Seller pays the fees. Please let me know if I can help.

520-661-5340 ... more
0 votes Share Flag Fri Jun 29, 2012 Foreclosure in Tucson
Jutta Lunario, Real Estate Pro in Tucson, AZ
Jutta Lunario answered:
Who in Tucson inexpensively forecloses Deeds Of Trust?
Before you foreclose which is costly I might be interested in buying your asset if it meets my criteria of product. Call me at 520-780-9339 I'd love to find out more about your property ... more
0 votes Share Flag Mon Jun 4, 2012 Foreclosure in Tucson
Eddie Holmes, Real Estate Pro in Tucson, AZ
Eddie Holmes answered:
How do you bid on a bank-owned foreclosed home?
Find a Real Estate Professional to help you. They understand the processes and legalities involved in working with Banks and their representatives. I have successfully negotiated and ... more
0 votes Share Flag Tue May 29, 2012 Foreclosure in Tucson
Mary Ann Sch…, Real Estate Pro in Hawley, PA
Mary Ann Schmalzle answered:
i want to foreclose on my house, I got the 8,000 tax credit when I purchased the house in 2009. If i do foreclose do I have to pay it back?
Please be aware that you don't foreclose on your house, the Lender forecloses when you fail to make the payments. Yes, unless you have occupied your home for 3 years, you are liable fo ... more
0 votes Share Flag Sat May 26, 2012 Foreclosure in 85710
Eddie Holmes, Real Estate Pro in Tucson, AZ
Eddie Holmes answered:
How do we get the actual selling price of homes in our neighborhood?
Contact a Realtor. Preferably one that has been recommended to you from friends, family, or co-workers. We Realtors have access to the Multiple Listing Service and tax records. You c ... more
0 votes Share Flag Sat Mar 24, 2012 Foreclosure in 85710
Lindanichols…, Home Buyer in Fairfax, VA
Lindanicholson8765 answered:
"Short-Sale" or "REO" Listing Designation? Question to all Agents
good question. REO is a powerhouse right now controlling about 60% and short-sales edging north 35%. You need to read REO BOOM by Aram Shah & Tim Shah. They break down the "m ... more
1 vote Share Flag Tue Feb 14, 2012 Foreclosure in Barrio Santa Rosa
Spirit Messi…, Real Estate Pro in 85716
Spirit Messingham answered:
how can I get a free listing of tex lien properties in tucson arizona?
Can your friend pay in cash? If not, have them contact a local Realtor to look for a property. Is your friend pre-approved with a lender? In today's market that should be step # ... more
0 votes Share Flag Sun Oct 16, 2011 Foreclosure in 85743
Spirit Messi…, Real Estate Pro in 85716
Spirit Messingham answered:
Freddie Max denied our short sale due to our hardship not impacting us in the long term. What would our next steps be, if any?
Do you mean Freddie Mac? Speak with an attorney about what your options are, you do need a "hardship" to get a short sale approved.

Best of luck.
Spirit
0 votes Share Flag Wed Aug 31, 2011 Foreclosure in Tucson
Ed Beck, Real Estate Pro in Boonton Township, NJ
Ed Beck answered:
My clients fell in love with a foreclosure that just went to "temp. off market." Is there anyway to put in an offer before it goes to
Unfortunately, many REO's are going temporarily off the market due to the robo signing debacle. The banks are reviewing each and every foreclosure because they have to prove the v ... more
0 votes Share Flag Tue Jul 19, 2011 Foreclosure in Tucson
Spirit Messi…, Real Estate Pro in 85716
Spirit Messingham answered:
When buying a home, whether a foreclosure or not, how do cash offers fare when it comes to negiotiations?
It depends of course, however cash deals are not as attractive as some seem to think. This is posted under "Foreclosure", that means a bank or lender, etc is holding the note ... more
0 votes Share Flag Tue Jul 19, 2011 Foreclosure in 85750
Nicholas Sfo…, Real Estate Pro in 11030
Nicholas Sforza answered:
I 'm looking to buy a home and get a deal. I saw a foreclosed home for 159,000 and asked my realter to place a bid for 120,000 he refused.
The realtor is correct that banks get the house appraised and are very stern with their price, however if the home has been on the market at that price for a while, the bank would obvio ... more
0 votes Share Flag Thu Apr 21, 2011 Foreclosure in Tucson
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