Foreclosure in 40222 : Questions & Answers

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Gordon Golds…, Real Estate Pro in Louisville, KY
Gordon Goldsmith answered:
Home loan issue
If you did not put your name on the loan and did not sign the mortgage note, then there should be no way a lender could come after you personally. The home has already been taken back b ... more
0 votes Share Flag Sun Sep 1, 2013 Foreclosure in Louisville
Mark & Paula…, Real Estate Pro in Louisville, KY
Mark & Paula Atteberry answered:
If the foreclosed party enforces their right of redemption, what happens to the tax liens held against the property? Do they still stand?
Tax liens survive foreclosure. In Kentucky, the sales price plus 10% and costs are due.
0 votes Share Flag Fri Feb 8, 2013 Foreclosure in Louisville
David Pauley, Real Estate Pro in Louisville, KY
David Pauley answered:
Need help with buying a forclosure home with foundation problems. First house is almost on market and need a loan.
If your home is being sold by Fannie Mae, the HomePath Renovation Loan could be a solution. Otherwise, FHA's 203-k loan could help. Both allow for monies to be held in escrow to compl ... more
0 votes Share Flag Sat Sep 1, 2012 Foreclosure in Louisville
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
How do I buy a forclosed home in the city of louisville do I need a realestate agent or do I go through a bank how is this process done?
You should have a real estate agent. You don't deal directly with the bank.

What happens is this: The bank puts the property on the market. It lists it with a real estate agent. ... more
0 votes Share Flag Mon Jan 2, 2012 Foreclosure in Louisville
Michael Emery, Real Estate Pro in Minneapolis, MN
Michael Emery answered:
I went to jcomm.org to see if our house sold @ auction. Current lender was listed as purchaser with an amt Does this mean it was actually sold?
It sounds like your lender purchased the property @ foreclosure to protect their own financial interests. In states with the right of redemption (Kentucky appears to have a redemption p ... more
0 votes Share Flag Sun Sep 1, 2013 Foreclosure in 40222
James Gordon…, Real Estate Pro in Cincinnati, OH
James Gordon ABR PBD SFR SRS answered:
Why did HUD quit using Bidselect to market their foreclosures?
Mark if you look the commisssion dropped also. On distressed properties in my area the max used to be 5% and on target properties (time on market, condition, area) it went up to a max o ... more
0 votes Share Flag Mon Feb 7, 2011 Foreclosure in Louisville
Steve Dobbs, Real Estate Pro in Louisville, KY
Steve Dobbs answered:
If a bank buys back a property at foreclosure sale for more then amount to be raised is the owner still responsible for any deficiency
There is no deficiency if the auction nets more than required. The funds in excess should be sent to the homeowner. I can't say that this would happen very often.
Steve
0 votes Share Flag Thu Oct 24, 2013 Foreclosure in Louisville
Scott Godzyk, Real Estate Pro in 03109
Scott Godzyk answered:
If a house forecloses and goes to sale at the courthouse steps and the bank buys it back for less then the minimum amount to be raised and results in
Normally there is a state statute that states what the minimum percentage the bank can purchase the house back at if no bidders or low bidders, in most areas it is 80% of what the forme ... more
0 votes Share Flag Fri Oct 15, 2010 Foreclosure in Louisville
Gerard Dunn, Real Estate Pro in Potomac, MD
Gerard Dunn answered:
Pre foreclosure stage. Is this a conflict of interest matter for litigation?
This sounds like fraud.

Everyone including the Real Estate Broker can go to jail.

It is thinking like this that caused the crisis we are in.

Avoid this at all costs. It is aga ... more
0 votes Share Flag Tue Mar 23, 2010 Foreclosure in Louisville
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
I have a lawn business and I am wanting to start a trash out company.
If you're already operating a service business--a lawn service business in your case--you're already 80% of the way there.

For information on cleaning and janitorial busine ... more
0 votes Share Flag Fri Sep 17, 2010 Foreclosure in Louisville
Anna Brocco, Real Estate Pro in Nassau County, NY
Anna Brocco answered:
im in foreclosure now and doing a short sale can i claim the interest i paid on my mortgage in 2009
For an accurate answer contact your tax consultant as he/she knows your finances best--if you paid the interest, yes, you should be able to claim it.

Anna
0 votes Share Flag Sun Jan 10, 2010 Foreclosure in Louisville
Debra Rood, Real Estate Pro in Louisville, KY
Debra Rood answered:
What are the penalties to foreclosure for rental properties. Due to job layoffs and paycuts we can no longer afford to pay for our two rental
Try looking on line for housing counseling agencies in this area. www.hud.gov is a good place to start.
0 votes Share Flag Tue Jan 19, 2010 Foreclosure in Louisville
Mike Linkena…, Real Estate Pro in Jacksonville, FL
Mike Linkenauger answered:
Can I get a bankruptcy report on my landlord is it possible?
Yes, usually you can on your local clerk of courts office online, just go to google and type in Lakewood, CA clerk of courts website, or your county with clerk of courts. You may have ... more
0 votes Share Flag Thu Apr 23, 2009 Foreclosure in 40216
Keith Manson-…, Real Estate Pro in Milwaukee, WI
Keith Manson- Metro Milwaukee Wisconsin answered:
reo counter offer
It would appear there are two people working the case. Is the property listed with the same realtor? Is your offer have credits that may affect the price? If would the same realtor I ... more
0 votes Share Flag Sat Feb 19, 2011 Foreclosure in Louisville
Dawn Rupersb…, Real Estate Pro in Ocala, FL
Dawn Rupersburg answered:
GOOD FAITH PAYMENT
Hi Ann:

In most cases the bank will state what goof faith estimate they want to even look at your offer. Most banks require a minimum of $1000 in my area. I don't know why you paid ... more
0 votes Share Flag Sun Sep 1, 2013 Foreclosure in Louisville
Michele Pete…, Real Estate Pro in New York, NY
Michele Peters, Esq. answered:
I filed chapter 13 but I am still behind in my mortgage payments. I do not have much equity in my home and I
The point of a Chapter 13 is that you are on a payment plan to repay all your debt. No one files bankruptcy who has excellent credit and the entire point of bankruptcy is to be provide ... more
0 votes Share Flag Fri Jan 1, 2010 Foreclosure in 40216
John Burns, Real Estate Pro in Owensboro, KY
John Burns answered:
How much under the asking price should I offer for a Forclosed property?
There is no formula for an offering price on a foreclosure home. You have done your homework--finding out the previous sale price and the balance left on the loan. That info, and the kn ... more
0 votes Share Flag Tue Feb 3, 2009 Foreclosure in Louisville
Donovan Stew…, Real Estate Pro in Cliffside Park, NJ
Donovan Stewart answered:
How do I know what my house sold at the foreclosure auction?
You can obtain this information from the Bank that had your loan. You may also obtain this information from the Sheriff's Office who conducted the sale.

Donovan Stewart
Broker/Sale ... more
0 votes Share Flag Sun Sep 30, 2012 Foreclosure in Louisville
Bill Dunn, Real Estate Pro in Paducah, KY
Bill Dunn answered:
I have two home mortgages one of them is being forclosed on how will this efffect the other mortgage
Which is foreclosing - the first or second mortgage? They have priority and it matters a great deal.

I am not an attorney, just a realtor, but since no one else has answered... If t ... more
0 votes Share Flag Thu Jul 31, 2008 Foreclosure in Louisville, KY
Pam Winterba…, Real Estate Pro in San Ramon, CA
Pam Winterbauer answered:
i filed bankrupcy to stop foreclosure of my home. now i have losted my house. what should i do?
Angela....

You may want to consult with an attorney to determine if a Chapter 7 BK is best for you. As to rentals you may want to try your local craigslist as Trulia does not have a ... more
0 votes Share Flag Thu Apr 17, 2008 Foreclosure in Louisville, KY
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