Foreclosure in Miami : Questions & Answers

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Bob Galivan, Real Estate Pro in South Miami, FL
Bob Galivan answered:
When the bank does buy back the home, what is the procedure following the purchase? What happens if there is money owed? and how long before you have
If you have been foreclosed, the bank will sell the property for whatever the market will pay. You are responsible for the unpaid mortgage balance plus whatever costs they incurred to d ... more
0 votes Share Flag Mon Jul 19, 2010 Foreclosure in Miami
Wain Berry,  in Fort Lauderdale, FL
Wain Berry answered:
Vericrest bank bought back my home at an online auction.
You have a right of right of redemption but you have to pay any money owned in arrears plus the balance on the mortgage.

Wain Berry
David Wain Realty
0 votes Share Flag Mon Jul 12, 2010 Foreclosure in Miami
Marlene Bien…, Real Estate Pro in Tallahassee, FL
Marlene Bienes-Realtor answered:
Necesito comunicarme con un realtor que sea agente del Deutsche Bnk Natl Trust Co Tru y ya alla cerrado forclouseres con el banco.
Hola Lolo,

Te aconcejo que llames a un Realtor no necesariament que a lidiado con ese banco porque el proceso es equal con practicament con todos los bancos. No esperes al ultimo mo ... more
0 votes Share Flag Fri Jul 9, 2010 Foreclosure in Miami
Jose Enrique…, Real Estate Pro in Miami, FL
Jose Enrique Humaran answered:
Is property in miami started going up?
Yes, in some areas, on the zip code 33177 will take a bit longer to recuperate but eventually it will.
I you need more information contact me at 305-610-6597
0 votes Share Flag Sat Jul 24, 2010 Foreclosure in Miami
Scott Godzyk, Real Estate Pro in Manchester, NH
Scott Godzyk answered:
I am in Miami and want to purchase a property that Aurora Loan services owns. It is abandoned and deteriorating. Who can I contact? Who is their?
As a buyer you can not just contact a bank or one of thier asset managers to purchase a property. Aurora does not sell their own properties, they utilize asset management companies whos ... more
0 votes Share Flag Mon Aug 15, 2011 Foreclosure in Miami
MA Young, Real Estate Pro in Fairfield, CA
MA Young answered:
I have placed an offer on a property currently held by Deutsche Bank National Trust. According to the realtor, there have been 5 cash offers
Most of the banks are getting so many offers that it will take a few days to a few weeks. The selling agent would be able to give you a better idea from their experience from this parti ... more
0 votes Share Flag Sat May 15, 2010 Foreclosure in Miami
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
what will happen to me if i go into forecloser on my timeshare?
If you foreclose on your deeded timeshare, you would be delinquent on the loan, if applicable, and it would go on your credit report--protect yourself and do consult with an attorney wh ... more
0 votes Share Flag Thu May 13, 2010 Foreclosure in 33196
Joyce Sass, Real Estate Pro in Matlacha, FL
Joyce Sass answered:
Should I hire a lawyer? Or continue the process with Naca.
Alot depends on your motivation about the property. Are you forced into the foreclosure process by uncontrollable events or is it by choice because your property is just no longer worth ... more
0 votes Share Flag Wed May 12, 2010 Foreclosure in Miami
Dominick Mar…, Real Estate Pro in MIAMI, FL
Dominick Martinez answered:
is a short sale buy back option legal in florida?
Shortsale buy back?? Please explain , because you cant buyback a property thats already yours. Also shortsales are arm's length transactions only.
0 votes Share Flag Tue May 4, 2010 Foreclosure in Miami
Don Kelbick,  in Miami, FL
Don Kelbick answered:
I am a renter who think's the property is under foreclosure. What should I do? Do I need to move out or continue to pay rent?
Firstly, yo have nothing to do with bank papers, you are not the owner. Do not accept them. Anything that deals with your vacating the property will either come from the owner, the Sher ... more
0 votes Share Flag Mon May 3, 2010 Foreclosure in Miami
Cardenas Gro…, Real Estate Pro in Weston, FL
Cardenas Group answered:
I want to buy a bank owned property , i'm very interested but i don't know the unit, the address is 75 Kingswood D, West Palm
Hi Catalina,


There is a unit 71 Kingswood D for $32,900 accepting only cash 2 bedroom 1.5 baths. Please let me know if this is the unit you are talking about.

Carlos Cardenas
... more
0 votes Share Flag Thu Apr 29, 2010 Foreclosure in Miami
Alma Kee, Real Estate Pro in Tampa, FL
Alma Kee answered:
I rented a home in april1 2010. I found out it is in forecloser on April 25,2010. The landlord rented the home to me knowing she is foreclosing. What?
Dear Quiri,

Sorry to hear you may be a victim of an unscrua pulous owner.

Are you sure the owners is not attempting to get a loan modification? Is the property listed as a " ... more
0 votes Share Flag Thu Jul 22, 2010 Foreclosure in Miami
NoLonger Inb…, Real Estate Pro in Miami, FL
NoLonger Inbusiness answered:
i,m interested in this property, and i need to get in touch with the proper representative with the intention of buying, call me at 305 552-5159
Hi, please call me at 305-479-0074. I'm a local agent here in Miami. I tried to see if the address is on this post, but I'm not finding it. I can get you in touch with the sel ... more
0 votes Share Flag Mon Apr 26, 2010 Foreclosure in Miami
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
In a foreclosure where the bank is aking for a Pre-approval Letter, can I first negotiate the price of the property?Will it hurt me credit if I?
Your agent can best advise you--when buying any property it is highly advisable to have an agent looking out in your best interest--acquiring a pre-approval letter for any property purc ... more
0 votes Share Flag Fri Apr 2, 2010 Foreclosure in 33134
Anna M Brocco, Real Estate Pro in Williston Park, NY
Anna M Brocco answered:
If a home is on foreclosure can an offer be made or is the selling price the lowest the bank will go?
Keep in mind that banks are looking to get as much money back as possible--you can make whatever offer you wish, though not guaranteed it will be accepted---be informed--look at recentl ... more
0 votes Share Flag Fri Apr 2, 2010 Foreclosure in 33134
Beatriz Mend…, Real Estate Pro in Miami, FL
Beatriz Mendez, 786-471-4125 answered:
how can i find out is house that iam living in and paying rent is in foreclosure?
That information is public records, therefore all you have to do is go to the county's clerk office website of the county where the home is located and search for a lis pendens fil ... more
0 votes Share Flag Wed Mar 17, 2010 Foreclosure in 33142
Bob Galivan, Real Estate Pro in South Miami, FL
Bob Galivan answered:
I just signed up to miami dades forclosure auction site and was wondering how it works? Are the buyers responsible for any bad leins and stuff bad?
DANGER WILL ROBINSON! DANGER!

Go to the miami herald website at herald-dot-com
search for

Miami-Dade foreclosure auction site baffles bargain hunters

read the article!!!!!

... more
0 votes Share Flag Wed Mar 17, 2010 Foreclosure in Miami
Don Tepper, Real Estate Pro in Burke, VA
Don Tepper answered:
I bought a house on the online miami clerk of courts foreclosure auction. I have the certificate of sale. The defendant has filed an objection to the
Get a good lawyer.

Actually, you may have a very strong case. I was involved in a somewhat similar situation a number of years ago. A parking space I owned was foreclosed upon and so ... more
0 votes Share Flag Wed Mar 3, 2010 Foreclosure in Miami
John Juarez, Real Estate Pro in Fremont, CA
John Juarez answered:
4 months behind on mortgage payments, filed a damage claim w/ insurance, paid repairs myself. Can mortgage company hold/keep insurance check?
Guppie,

Since you have a Realtor and an attorney, I do not know why you are asking this question in a public forum. Are you looking for a different answer than that given by your exp ... more
0 votes Share Flag Mon Mar 1, 2010 Foreclosure in Miami
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