Foreclosure—questions & answers, advice and opinions page 150

prefab home vs fixing it up.
i bought a fixer upper in the town of dexter mi and wanted to know if anyone thinks i should put 3 to 4 thousand into to it for a few years to get it live able or should i purchase a prefab and build it…
Our daughter is getting divorced and wants to keep her home in San Rafael, CA. 5.5% fixed rate loan, upside down by around $40-$50,000. Good credit.
Are there any types of loans that would reduce her principle or interest rate so she can stay in her home? She teaches in a title 22 school.
Going in forclosure. Bank refuses remod and bank will not do shortsale
because the condo is not worth more than 50 % of what i paid. I want to go into foreclosure at his point because first of all i lost my 65K i stuck into it and i will never get it back anyways, number 2…
My condo is going in foreclosure. I am 8 month behind and chase does not want to help me.
No modifications allowed if you are behind in your payments. No shortsale, nobody has bought a condo in my building almost 2 years, shortsales included. Anyways, what happens to me after foreclosure?…
I am going in foreclosure
I owe 120000 to chase. My condo is worth 70000. If someone would offer a shortsale price it would probably be under 70K. If the bank says ok and i have a 50K burden on me and 1099, i rather just go into…
I'm looking at this property in Laurel Hill,FL. The most recent list of sale was to the Okaloosa Co. Federal credit Union whom I guess pruchased
it with a special warranty for 85000. My question is why would a credit union want with it and how do i find out if it is for sale again as a REO?
Fannie Mae Corporate Addendum...Does this still allow for Option 1 type home inspections?
Hello, we're looking to buy a fannie mae owned (foreclosure) property but are kind of leery of the corporate addendum that is attached to , and takes precedence over, the offer we want to put in. Primarily,…
if you are making an offer on foreclosed property how do you no where to start negoiations.According to cma it is priced right and needs about
1500-2000$ in repairs . I read one report that said start offer with 50cents on the dollar. another said offer at least 10%less than asking price. I no a lot of factors probaly have to be considered but…
We received a 3 day notice to quit that was taped to the front door. Noone ever knocked on our door. Our home has been in foreclosure for a year now
I called the bank on the notice and asked if we could get more time. He said that after the three days, you will have about 15 days total to get out. I spoke to someone, and they told me to ignore the…
there is a house that was sold in a sheriff sale. i am trying to get record of the amount it sold for and i can't find it anywhere. i am making
an offer on shortsale that is right nearby and want to show bank proof of the price of the other home. all public records my real estate agent searched only show the records from 3 years ago! i was told…
Hi, I am just looking for foreclosures in the Chicago (southwest side) area. I have seen some that were
interesting but I can't get information on them since they are on listings where I have to pay and register to get the information. Is there a way I can get these listings without paying a fee to get…
buying a foreclosure property
I am working with an agent and I plan to make an offer on a foreclosure house very soon. I will be paying cash for it. I want to do a home inspection because the property is in bad shape and dilapidated.…
I was advised to sign a Quit Claim Deed years ago by an attorney and now the house is potentially going to be foreclosed on - do I have any options?
During a divorce my attorney advised me to sign a Quit Claim Deed on the house my spouse and I were purchasing. At the time my spouse would not refinance nor buy me out. The judge specified in the divorce…
I recently looked at a property listed on trulia, I met with the realtor representing the property. We had no representation. The realtor told us the
owner was a property investor who was not negotiable about price, but slightly flexable about a few things. The stove and many other things were removed from the home. The house was on the market for 464…
Agents specializing in foreclosures?
Are there agents out there who specialize in showing clients foreclosures? Agents who know the process, pit-falls, and are willing to hang in there for a first time home buyer?
hello, can they foreclosue on me if 2nd has to collects
hi i have a home and fell behind on my mortgage. so i come to agreement with bank ( modified insters rate plan for 6yrs)and im on track. but now my 2nd i can't pay. and the 2nd is from the same bank.…
Would it be a good idea to negotiate a short sale in our situation?
Our primary home is a riverfront home with a mortgage of $842,000 and a second of $75,000. In order to pay off the loans and the closing costs we would have to sell the house for $1,050,000. It has been…
licensed and insured....now what?
ok so i have i probly done the easy part, i have gotten license and a million dollar insurance policy on my new foreclosure cleanout company...Certified Propwerty Preservatioin ... and i was wanting to…
I have been watching the subdivision Meranova at Mill Creek in Burofd for almost a year and a half. It has about 10-15 homes already sold in the
subdivision. There are 7 that are now bank owned.I'd like your opinions on the pros and cons of buying in an unfinished subdivision in addition to one with so many foreclosures. I am preparing to…
i'm looking to buy a home for less than $6000. I don't care where it is. is this possible?
I receive SSI but cannot get a doctors note for a mortgage. I'm facing homelessness
Hi, I'm considering travelling to Florida for a month to search and invest in foreclosures that are well
priced and in strong rental markets. I have a long term outlook and understand the hassles of rental ownership. If you were in my shoes and had $150k to invest, what areas in Florida would you be seriosly…
What would you suggest as an offer for an REO listed at $125K (down from $138K original list price)?
It's been on the market for more than 6 mos in an area with little activity where it is the highest priced property currently for sale. The lender paid $145K at the sheriff's sale to take it back. Where…
Our landlord informed us he just started the foreclosure process and ofrered to short sell the house to us.
we don't want to buy the house. How long (in months) will the process likely last? How long before I will have to leave the house? I live in CA and we signed a 2 year lease expiring at the end of…
Foreclosed home and Lien from Creditor.
My home might go into foreclosure, however a creditor put a lien on my property. What happens to the lien? Who is responsible?
sc does not have a statutory right of redemption. what does that mean?
Thank you again! sc does not have a statutory right of redemption. what does that mean?
foreclosure, auction sale can party who's being sued by bank via foreclosure, bid on, buy at auction sale, the property in question?
if property goes into foreclosure, borrower & cosigner on mortgage loan but co-signer only one on deed, can the first priority borrower, who is not on deed but is on judgement being sued via foreclosure,…
Can I take advantage as a cash buyer to offer a short sale?
I'm going to offer a short sale property. I want to offer price as low as possible. Since I'm a cash buyer, I wonder if seller's lender will prefer cash offer even it's lower than other…
Our neighborhood is being held captive by a lunatic who somehow manages to get postponements on the Auction
date of her home. We're tired of seeing the police at her house three to four times a week. We're tired of the noise that comes from the house at night. We're tired of seeing the high…
i live in st. louis, mo and in a situation where i can not afford my mortgage.
i have asked the lender of the 1st mortgage to refinance the 1st (108,000) and equity loan from a different lender (15,000) together where i could get a better interest rate. My rate right now is 8% and…
If I am interested in this house, how do I get more information about it?
-- This question is about this property: http://www.trulia.com/foreclosure/2003288151--N-1st-Ave-Tawas-City-MI-48763
I have a rental property listed for shortsale. I immediately received an offer and therefore the bank delayed/held back the foreclosure process.
There is a second loan- equity line on the property. During the approval process, the escrow company discovered an error whereby Litton(1st mortgage) is technically not first but E-trade (line of credit)…
How long does it normally take for Suntrust Bank to respond to an offer on one of their REO's?
Is Suntrust Bank quick or slow to respond to offers on their REO's?
Did you take out a subprime mortgage in the last few years? And, are you still living in that home? If not, where did you land?
National magazine writer looking to talk with subprime mortgage borrowers about their experiences. Pls. respond in the space below, and I'll check back for your answers. I look forward to hearing…
Is 65 to 70 cents on the dollar to low of an offer (cash offer) for an REO property in southern California?
Shortsales, NOD's pocket listings etc. Note: only applicable to properties that need cosmetic to major rehab.
Can I go afterr my former lender for foreclosing on my house after refusing 4 short sale contracts forcing me into foreclosure?
my former lender HomEq Services (California) foreclosed on my home 1/5/10 in Texas after refusing to accept 4 different short sale contracts. I have contacted them repeatedly and even used an intermediary…
We placed a bid on a REO with supposedly multiple offers our bid was above asking price, and now we find out that the bank switched listing agents
and now we have to wait for it to go back on the market and place another bid. So my question is why would a bank switch agents on a house with offers?
My landlord has not been making his house payments,We just found out.We were told that the bank will pay us
to move out is that true? Its called KEYS FOR CASH and how would I find who to talk too. The landlord will not tell us.
REO - Does an e-mal acceptance create a binding contract?
I have an offer on a REO property that was accepted verbally per our agent and the listing agent. The listing agent sent a congratulatory e-mail toour agent stating: Congratulations we have a deal.…
I rented this house, and now is foreclosed. i'm being offered cash for keys, is this a good thing or not?
I only been living here for about a month and a week, i feel that it was unfair for the owner to have rented this place, knowing already that he was going to lose it. what do i do now?
Assuming the mortgage
Hi, my mother-in-law's friend is currently unable to pay his mortage due to his company having laid him up. He is currently looking to sell, but my mother-in-law came with idea of assuming his mortgage,…
I am under contract to buy a short sale that I was renting for a year. We have been under contract for over 8 months. The bank finally accepted our
offer this month. We are going with an FHA loan. We need the appraiser to come out he did. The same week the sewer line collapsed. I told the current home owner and his response was he did not care and…
An approved purchaser contracted to buy a property but the seller lost property to foreclosure
before the sale was completed, if the bank is willing to renew or continue with sale how would purchaser communicate this to lender to reestablish or renew sales contract and or lenders approval
Are there deadlines on when proof of funds need to be in and Is it common for bids not to be turned in? Proof that my bid was turned?
I put a cash bid in on a foreclosure home over the asking price with the listing agent. She said that this was a very good offer and was veryconfident that we would be getting approved. We also included…
want to find a broker/agent with strong experiences in pre-foreclosure/REO single-family home in zip code 97229 or north of 26 in portland oregon area
I want to buy a pre-foreclosure/REO single family home in zip code 97229. Where could I find a broker/agent, who has strong experience in short-sale,/REO, especially dealing with banks.
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