If you are asking whether or not we think that an adverse report should appear on your credit report, I have a question for you. What difference will our opinion make? You have been sailing some pretty turbulent seas and I don’t think that an uninformed opinion based on the information that you provided is going to be of much value to you.... more
Interesting question you have posted here. I am a bit confused by your question. More specific details are needed without assuming things here. Depends on who is the owner here? Are you thinking the actual owner or are you thinking of a Bank foreclosing ( This is a common mistake people make, so that is why I am asking). Assuming you have been making payments but your Landlord has not been making his payments. Now the Bank or a lien holder wants to foreclose and the new owner will want to someone else?
First of all, Do you have a written agreement with your current Landlord regarding the Rent to Own? Obviously there is more to this story. Here is what I recommend to you, get off of here and Contact a Real Estate Attorney immediately. Realtors cannot give you legal or Financial advice. You may have rights. Email me on what the Attorney advises you or if you need a referral for a Real Estate Attorney.
I sincerely Wish you luck.
Head Of Short Sales Department KW Encino.
I've seen this many times:
Understand that Realtors do not give LEGAL advice, and you need to check with a Lawyer:
The Key is whether the actuall did file a LIEN on the House; the only way to be sure is to contact the Title Company: They should have a record of all Liens.
Most HOAs will not file a lien, because they know that it will be wiped out in a Foreclosure. As a private debt, they can sue you for everything up to another owner, (not the Bank,) taking possession.
And they will!
You will need a Lawyer, I repeat!... more
I'm wondering why you didn't just ask the seller where the written disclosure is, if you already knew about the mold from your conversation together. If you knew about it, you could have asked the Seller to repair the damage and the issue that caused it. Read your contract. The answers you're looking for should be spelled out in the contract you agreed to. What is your agent saying? You never mentioned whether escrow already closed, or if you're still in your inspection and reports contingency period. I'd talk to your agent, that's what you hire them for.... more
Depends on whether you are month-to-month or on a lease (and what it says).
You might be interested in the following:
(Also has link to 2012 update)
My question is, "Why are all the prior tenants in the garage?" jk
Your best bet would be to get legal advice from a real estate atty or call Fair Housing or HUD.
Good luck!... more
I would just caution you if the property listings are from RealtyTrac, which is a company who advertises "foreclosure listings" on Trulia. RealtyTrac's primary objective is to separate you from your $$$ in exchange for providing information most any Realtor® can provide you for FREE.
MLS Data Accuracy – Where to search if you’re “without Realtor®”
Here's a quick diagram explaining the process of actually getting to the status of an actual foreclosure (the property above is on the very first step and may never become a foreclosure):
As far as having the most up to date listing information for ACTIVE listings team with a local Realtor® who can set you up with an automated search for what you can afford.
I'm no attorney and this is just a public help forum, but I would imagine the bank can come after ANY assetts they know you hold. The mortgage loan may have only been secured by the property, but once they open suit, I think everything is fair game. Now if you get them to agree that your short sale is the "final answer" and that they will not come after you for the losses they incurred, you should be ok. Your best bet is to find a good attorney and see how you can protect your assets...... more
It's actually just 14 days notice that is needed. So, if they have given you 14 days notice and you have a trustee sale date coming up, you do not have much time to figure out your options.
With such limited time to work with, every hour that passes is one more hour closer to your property being foreclosed. I specialize in helping people delay trustee sale dates even with very little time left. If you contact me directly, I can meet you tomorrow with all of the documents needed to try to get your trustee sale date postponed. No cost to you for my services.
Keller Williams Realty
In my opinion No. New ARM account for a far smaller portion of total loans and the underwriting standards are much higher. Not to say that there will not be more forclosures in the future I just do not believe we will see a wave.... more
Yes, they can if they are on top of it, most of the banks will do an extension for the foreclosure REO auction date, ask your agent to push them to do this if they haven't yet. Ultimately, it is up to the bank if they want to extend the date, but 99% of them will if they have a sale that appears it is going to go through.
Have a great day,
Heather Paul, Broker Associate, Realtor
Thank you for writing in. This is a great question. There are a few options available to the homeowner who is facing foreclosure. They are as follows:
For a temporary fix:
1. File Bankruptcy;
For a more permanent fix:
1. Contact your current lien holder to request a loan modification;
2. Contact your current lien holder to ask about a Deed in Lieu of Foreclosure;
I hope you find this information helpful.
In California, the 1st lien-holder may/ may not accept a "deed-in-lieu of foreclosure" then liquidate the property. Ina purchase money scenario,The 2nd lien holder (Junior or subordinate lien) would lose all rights to collect as their interest was secured by the property itself.
In a HELOC or cash out, the bank may or may not pursue collection or deficiency but it would be considered a recourse loan.
Listen, the banks prefer you short sale as they lose less and can turn the property around faster. It is also the responsible thing to do and we are 95% successful in getting total debt forgiveness with 1st's and 2nd's. There are many proficient Realtors here ( Including me) who would take control for you and short sale the property. We also handle all discussions with the banks and rarely are you asked to even speak with them again.
The best part...There is no charge for my services, the bank pays all fees in the short sale.
I can handle it all for you,please contact me if interested.
Short Sale Specialists