If it is listed as a short sale you can. It doesn't turn into a bank owned property until the redemption period expires. Email me the address and I'll look into what bank will be taking it over. I have contacts at most banks and may be able to help!
Talk to you soon!
Kris Lindahl, CRS, CDPE, SFR
Is the association aware that your property is in foreclosure and you will be moving out at the end of the redemption period?
As I recall, under state law the bank that takes possession after foreclosure is obligated to pay 6 months of past due association dues. But you may be liable for any that are not covered under that law. It would depend on your association documents.
First step is to talk to the management company regarding your foreclosure. If they intend to pursue you for HOA fees, then you should talk to an attorney.... more
Before considering foreclosure and in order to best protect yourself, do consult with an attorney who specializes in real estate, see exactly what options you may have; most professionals do offer a free consultation, or if you cannot afford one, contact your local Legal Aid Society for a pro bono attorney, free. It's possible that a short sale may be a better option over foreclosure.... more
Yes, unfortunately, it is legal. If they accept any less than what you currently owe in total without there being another agreement in place, it could look as though they are okay with your late payments.
A good idea would be to call and make arrangements on how you're going to make up your late payments. You may even qualify for one of the new mortgage modification programs.
Sheila your best bet is to contact your bank, let them know what your hardship is and ask if tehy can help. if you have the ability to make any payment then ask if you can complete a loan modification. They can reduce your interest rate which lowers your payments and they can take what you are behind and add it to teh totla you owe. If you have no ability to pay, then you should ask to complete a short sale. They can lower the amount you owe to allow you to sell the property, either one avoids foreclosure.
If you want to complete the short sale you should hire an agent who is experienced in short sales who can assist you with this
If you can get the bank to agree to a short sale, it will be better for you then a foreclosure. Your credit will still take a hit but it won't be as bad as it would with a foreclosure.
You need to contact an attorney and an agent in your area that specialize in short sales and forclosures. You have too many questions to be answered generally. An agent can talk to you without any fees or obligation, but make sure it's someone who has done this before and knows how to advise you. Best of luck to you.... more
There are no garuantees that it will sell before the bank forecloses. What you need to do if you are considering a short sale is contact your lender and explain what you are doing. If they already started a foreclosure, then it may be too late. If not, then you may be able to stay off the foreclosure and do a short sale. Call your lender ASAP.... more
In order to best protect yourself, do consult with an attorney who specializes in real estate before making any decision--he/she will be your best source of advise as it relates to your situation--most professionals do offer a free consultation--or contact your local Legal Aid Society and ask for an attorney who does pro-bono work--free.... more
What do you mean? Is your house being foreclosed? If its your house you are able to take your personal belongings and private property which does include some appliances. If you are just viewing a foreclosed home and their is garbage in it you are not allowed to take that.... more
Also, you can tell the broker you would like to represent yourself with a NO brokerage relationship. It would not make him greedy because as long as you are not working with an agent he will not have to split the commission with anyone. Also, you could always contact another agent in the state just to ask them about the situation, since they will be more knowledgeable on local rules and regulations, but be aware that they are going to want your business also!
I've heard multiple stories of 2 weeks to a month but given the surge in foreclosures, it's hard to know what their current timeline is. The human factors involved are impossible to forecast so you're just going to have to be patient and check in with your closer, agent and LO. There are other ways to clear clouded title but those take time as well. Oftentimes this stuff comes together at the last second but make sure you have a backup plan in case it doesn't.... more
I am not an attorney so this is not legal advice, but I've always heard that an unwritten lease is considered month-to-month and only requires 1 month's notice to terminate. Regardless of the home's situation though, you are required to abide by the terms of a lease you have agreed to, so simply stopping payment is not right.
Again, I am not an attorney and this should not be considered legal advice. Please consult an attorney.... more