Foreclosure—questions & answers, advice and opinions page 178

Are SHORT SALES,really short? Dealing with short sales it's been our experience that it has taken over 5 months and longer just to close on a
property, sometimes close to a year, and some never close and go to foreclosure. Do the banks REALLY want to close on the deal? The Owners facing foreclosure want to finalize the deal but the banks hold…
I am wondering what will happen in this situation: My fiancee (Kim) had a house from a previous marriage (with Jeff) in which they had a mortgage
together. The house was forclosed and eventually bank owned. The house sold about 4 months ago for $29,000. The original amount of the loan was $70,000. Since then Jeff has filed bancrupcy. Kim has…
Can we counter back on a bank's short sale offer?
We offered $1k over list for a short sale, the seller accepted and sent it to the bank. Now the bank wants $21k more than our offer. Our realtor says we can't counter this offer, we have to take…
Help,my landlord is trying to evict me and I was paying rent.
My landlord called my husband and I back in July and told us to stop paying her rent since she was no longer making payments. Over the next few months we discussed buying the house from her in a short…
When buying or selling a short sale, is it better to send the bank an offer they are most likely to accept (such as the appraised value) right off,?
or submit an offer less than the appraised value and let the bank come back with the $ they want - then re-submit at that price? The reason being, what if the appraisal the bank conducts comes back lower…
if we do a short sale on one of our rental properties can the bank come after our other properties
We own 3 rental properties in myrtle beach SC --it we do short sale on one of them can the bank come after us if we ever sell the other properties or after our primary residence
On a short sale does a bank counter via phone/email and not by paper contract?
Our 1st offer was countered by the bank and this was done by email or phone (not sure which, but we dont have anything in hand from the bank) is this legit?
I am a first time home buyer here in Las Vegas, and found a home listed at $119,900. It's a $1733 sq. foot home, and left unscathed with a few
upgrades. I'm pre-approved for 130K, with about $40K down going conventional. The house is a FHA house. My original bid was 117K with 2K back in closing costs and an EMD of $1500. The next day they…
Gerald--houses are in Mpls, Minnesota. I am moving there in June. I am looking for Rental Properties. The houses are not in great areas but
they're not in a totally depressed areas. The listings do not have MLS # --Some say FORECLOSURE and PREFORECLOSURE?
My husband lost his job and we now can't afford the mortgage. Our home has lost value and we are being told
that we can only sell for no more than $299,000 at most, we owe $287,000 so after paying a realtor I'm sure we will owe. We need to make some money to move. We are going to foreclose and hope to bank…
I owe 224,000 on my home. I have lost my job and cannot afford the payments of 1620 per month. After speaking
with 2 realtors they recomend a listing price of 245,000 just to break even. At this point I can't continue to pay the mortgage or make any repairs prior to selling. I can't aford any more money going…
I lost my job & can't make my (FHA) house payments I also have a 2nd mortgage. Before I lost my job we were
in the process of closing on an investment home using 401k funds We are paying cash for the investment property, (less than 1 10th of the cost of our primary res.) What are the problems I will get myself…
I am helping my mom (82 years old) to do her loan modification. The bank wants me to send a letter stating I want to set up a scrow account for Ins.
Why would they ask me to set the account for Ins. & Taxes, I haven't heard anything about the loan modification yet or terms. I have been doing this on my own, do I need an attorney? I don't…
Short Sale vs Foreclosure: We are in the process of trying to short sell our home, however no offers yet. We have been told that as soon as the
house either closes (short sale) or forecloses, we have 3 years to get our credit in better shape before a mortgage company will even consider loaning money. If the short sale is going to take a long…
Question about a potential fraud - help please
I am currently living in a private home in the Bronx and last year the owner was foreclosed on....I became interested in the property but the owner wanted to do things her way. So she got a real estate…
Looking to purchase a non-listed foreclosure
Hi, I'm interested in a particular property in Decatur, GA. It's a foreclosure, but hasn't been listed yet. The deed is held by Deutsche Bank, or at least I know they are the trustee.…
If a house goes in forclosure and is sold for more than the first mortgage and the second doesn't claim the extra, what happens to that money?
I'm looking for the means to acquire the extra money that was over the first mortgage amount. Where do I start looking?
The house i rent is scheduled to be auctioned off on Feb 25 at 11:AM 2010 I havent heard anything in a while and i was wondering if it is still
The house I rent is supposed to be auctioned off on the 25th of Feb 2010 the people i rent my house from wont tell me anything and I was wondering how do I find out or who do I contact to find out if the…
A home in our area of Texas has been in foclosure for the last year. whats a good asking price concidering extesive remodel needed
A home in our area of Texas has been in forclosure for the last year. Its on the marker again after the original owner attemped to sell before loosing the home. In winter of 2009. Seller was asking $129,900.…
I made a bid on a foreclose property, the price is $ 109,000 HUD house.My bid is $ 109,000 but they pay the closing costs.Next day my agent told me we
were outbid.My question is how come the unit's seems to be in the listing still after 2weeks ? Should I make another bid ?
Do I still have notice to move out?
I signed a lease which whom I thought were the owners but the bank took posession before I signed the lease, do I still get notice to move out instead of just being evicted? Do I still qualify for the…
Inquiring about and buying a foreclosed lot?
There is a neighborhood that was only partially built out before the builder went into foreclosure. I'm interested in purchasing one, maybe two, of the lots. I can't find the lots listed on…
My rental has been forclosed upon and I would like to move out now instead of continuing my lease and paying the bank. Can I do this?
My landlord was pocketing my money for months and I don't know if I will get my deposit back. In the meantime the bank is saying pay us your rent now. I am not behind, only a few days late this…
I have a friend who due to a divorce can no longer afford his home and is about to go into foreclosure.
We can not get a mortgage approved at this time, but we have plenty of income to handle the property. Is it wrong or illegal to allow us to 'rent' it - pay the mortgage and live there - until…
203k loans
Has anyone had success or know of getting a 203k loan to gut out an fix a 4 family in brooklyn ny?
I have been going through the loss of my home for 2yrs now about 1yr ago I had a specialist look at my loan and the resusts showed a Preditory Loan.
Just 2 days ago it went up for Sherriff sale. Should I counter attack when they try to make me pay the difference and can anyone help me get in contact with people that can assist me with this?
Renter in a foreclosed home seeks the best possability of buying the home. Auction just 2 weeks away.
I'm a renter in a house that just had a Foreclosure Final Judgement. House is set to be auctioned at courthouse in 2 weeks. House has 1 mortgage. I know that the current mortgage holder only has…
I have been renting an in-law unit for about 6 mo and just noticed there is a deed sale with a date of mid February on my landlords front door. I
am on a month to month lease and have been paying rent. Do I still continue to pay rent? This is in CA.
I don't understand how to purchase a home in foreclosure. Specifically, 15 St #3, San Francisco CA 94114 is up for sale, but the sale price
cannot be $20k... so what is the sale price exactly? Why is the amount that the bank owns the only amount that is shown? I hardly care what the bank owns, I simply care what the cost is.... so why is that…
Will getting a loan modification be easier to get in time?
I will need a loan modification in about 3 years. My lender is indymac. My payment is about 2700 a month. Monthly income is 5300 (1250 coming from renting the rooms in my house). My mortgage consumes…
Can a broker refuse to show property that he has listed?
My husband and I have been looking for a home with some acreage, recently we found a property and called the brokerage number on the sign, they refused to show the home. Stating that an offer was pending…
What if I dont think my agent isnt really following up with the bank on my short sale.Last week I emailed him to ask him a few questions I had and I
still havnt received a responce.Is there someone that could help get a Short sale approve a.s.a.p and if so what would i do with my current agent since he has already submited all the paper work to bank
Harold , I got approved for a short sale by the seller now we are waiting on the bank (BENIFICIAL CALIFORNIA) .I want to know if its ok If I call
the bank myself to see where the loan is and if they have an answer for me.What do u suggest I do to make it move faster?
buying a forclosed home and the title is in the owners name still not the banks
seller. Yesterday we were told the home is forclosed and bank owned. However because the title is still in the old owners name his name is listed on all of our paperwork. The home was forclosed on 8…
What happens if a house sold in a nonjudicial foreclosure doesn't sell high enough to pay off the loan in Missouri?
..I owe $54,00. on the loan. It doesn't have a second on it. I had to leave the house and my job for family medical reasons in another state. My house is now in foreclosure. I tried to sell it before…
short sale question. We made an offer for 275,000 the bank said they had an approval, and when they sent it turned out they wanted more money,
like almost 28,000 more! Is it normal for them to say approval but mean counter offer? This whole thing is very confusing.
I had agent make a cash offer, listing agent said bank pulled it off market to be auctioned. It was already
relisted with request for offers, listing agent was manager of REDC auction co.Q: Did bank know of REDC refusals to submit buyer's cash offers?
Are there any organizations out there that will purchase my home so I can get rid of the second lien holder and then allow me to buy the house back?
I recently filed Chapter 7 and the BK has been discharged. I did not include my house in the BK. I am currently paying the monthly house payment to the first lien holder and I am not paying the second…
I'm moving to Phoenix area as soon as my house in Illinois sells. I'm a retired construction worker and I'm interested in taking
advantage of the 22% incentive to buy foreclosures. Do I need to take a class to bid on foreclosures and are there brokers experienced in assisting buyers with foreclosure buying?
My home is due for Sherriff sale in ohio on March 8, 2010. What happens if the house doesn't sell? If it does, will they file a judgement
against me? If so, how much will it be? The house appraised for 70k. I am worried that they will end up garnishing my wages and I won't be able to support my family. We went to court mediation in…
Has anyone done a loan modification with Chase with or without NACA?
I have tried both for a year now and still have no results. But I'm not giving up. That's what the banks want you to do. If they made it easy, everyone would want a modification.
I owed 168,000 on my house. A sheriff sale occured and the bank bought it back at 174,000. this covered the remainer of my loan and back taxes.
What amount of money can the bank come back and make me repay? my assumption would be the difference of 174000 and 168000. Am I incorrect in my thinking? Any other costs/fees they could tack on that?
looking to sell and rent back my house in bensalem,pa any references
i am in foreclosure and i am two yrs behind in property taxes tired of being an owner but would like to stay in house ti oct 2011 do buy and rent back to seller
My dad co-signed for my brothers mortgage. To make a long story short, my brother lost his job, his wife left him, his kids were taken away, and he
turned to drugs. My dad got stuck with the mortgage. The trailer it was for isn't even on the property; the company moved it and we don't know where it is. My dad is 65 and can not afford the…
I lived in CA and I refinanced my original 2 loans and club them into one loan. Is my single loan now non-recourse based on CA law?
I originally have 2 mortgages, paid a down payment, and then when the house price increased, I refinanced to 30-years fixed, and club both loan into single loan (I could do that because at that time loan…
In the November 12, 2007 issue of Fortune magazine they are forecasting a 38% drop in Eastbay housing prices
over 5 years for the Eastbay. I realize that this number encompasses outer lying areas, but how would the desireable westside Alamo or Danville react from a percentage has always been so niche…
I own a Title Searching Company and I'm looking for more REO work from banks. Any suggestions of how to get past the red-tape to get that work?
We send our price lists and talk with the same person over and over but don;t always get the work. I know the REO title searches and going to triple soon and they will need my help and just want to get…
We have been trying to get a loan modification on the house since Nov 2008.
After manyprior attempts and payment plans, our final attempt got denied on Jan 19th and the house is scheduled for Trustee sale on Jan 29. Is there anything I can do to postpone it, and if not how long…
I am interested in purchasing a home that is going to auction any day. I don't know if I should try to step in and arrange a short sale before
the auction or wait and assume I'll have a shot at it in foreclosure I don't want to lose it.
I am looking for a good Real Estate Attorney in Northern California?
I am looking for someone with short sale and foreclosure experience.
If my house has been Auctioned, what are my rights ? how long can I stay in the property? The new buyer sent me a 30 day contract to move out.
We want to know our rights. We want to move out ASAP but finding a house for rent and packing is not that easy when both of us are working. 45 days would be reasonable.
how to buy forclosure home?
foreclosure homes
short sale deficiency judgment
I am in the process of short selling my property in Washington DC. Is there a good, reputable real estate attorney or organization that I can contact to help me negotiate away my deficiencey? I want to…
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