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Foreclosure in Durham : Real Estate Advice

  • All427
  • Local Info59
  • Home Buying129
  • Home Selling21
  • Market Conditions17

Activity 14
Mon Mar 27, 2017
Annieajohnson13 asked:
Tue Sep 1, 2015
Scott Godzyk answered:
Your post may not be seen by Trulias customer service who does not review q and a. You should scroll to the bottom of the page and click on help center. The proble you may face is the info posted comes from the county public notices for foreclosures, you may want to check there as well to see if they have an incorrect address. ... more
0 votes 1 answer Share Flag
Tue Mar 24, 2015
Antonya Ladson asked:
Mon Feb 3, 2014
Nancy Rizzo answered:
There is one house for rent on Queensbury Circle. None for sale currently.
0 votes 6 answers Share Flag
Tue May 21, 2013
My NC Homes Team answered:
Derick,

There is no owner foreclosure process, lenders foreclose after you miss enough mortgage payments and you'll get served noticed by the Durham county sheriff's department. If you're an owner who is financing someone to buy your property and you need to foreclose on them for failure to make thier payments you should contact a local real estate attorney to handle this for you. ... more
0 votes 2 answers Share Flag
Mon Oct 3, 2011
Mark Thomas answered:
you can certainly get a deal on foreclosure properies.. But, very often, foreclosures involve some repair work to make them move in ready - at a minimum, carpet and paint. There is no rule for pricing... Some foreclosures are overpriced Trust your realtor regarding price and condition. One thing to consider is what your lender allows. If you are financing using FHA, the appriasers can be more demanding regarding the condtion of the house. ... more
0 votes 11 answers Share Flag
Sun Sep 25, 2011
Fordg answered:
Here is article that answers most of questions about getting clients, bidding guides including Fannie Mae bidding guidelines
0 votes 4 answers Share Flag
Fri Jun 25, 2010
Deborah Miller answered:
Hello Concerned Renter

I am a local Real Estate Broker in Durham and would be glad to look up this information for you If you are paying your rent I guess in the form of a check and the checks are being cashed then you do know someone there is getting the rent. Have you actually spoken to the owner so you know they are ok?

Let me know if you would like me to look up this for you or if you would like help in finding another property even a short sale or foreclosure. I do have my short sale and foreclosure certification and I am a Durham Native.

Deborah Rigsbee Miller, Real Estate Broker, ESA, SFR
Coldwell Banker Howard Perry & Walston
919-491-2826
... more
0 votes 2 answers Share Flag
Thu Nov 5, 2009
Maryann Kendall answered:
I think the RE agent that mentioned the deed in leiu of foreclosure option, hit the nail on the head. Instead of trying to solicitate business from this man with poor health & foundation problems, that agent simply answered the exact question the gentlemen posed, and even offered a 2nd very viable option for this man. I just happend to be browsing, and saw the negative remarks from the other agents, and my curiousity got the best of me. Reading all the answers, this agent," 'TIM' and the lender from Charlotte, gave the best answers to the acutal question posed, based on the extremely limited iformation that was given. Obcviously, not enough information has been given to be sure a deed in lieu is the best option, but James said "he wanted to walk away". The advice the agent gave "to call the lender" was very, very responsible advice. And the best advice in this whole thread. The advice about a short-sale, was not bad advice, per se, but a short sale would only apply if the gent owed more money than the home is worth. While that may or may not be true, simply because his floors are unlevel does not let anyone know the value of his home, and his loan balance was never mentioned, so a short-sale is is not nessecarily an option, and that agent therefore did not answer the gentlemans question. I saw nothing in the deed of forelosure answer that made me think that agent "felt poorly abut his profession", or that anyone else should apologize for. To the contrary, the community guidelines for Trulia expressly prohbit the kind of remarks that both Eve and Susan made against the agent that had the eyes to actually read the question posed, and the ability to answer the question without "angling for a listing.' They should apologize "to" that agent, not "for" that agent. I had to laugh when he said there would be "flack". It seems to me this man is both smart and honest. How refreshing! I hope to be moving from TN to take a job at Duke, and when I do, I know exactly which buyer's agent I will call first... the one that actually listened to "James's" question, and gave advice without sounding like a self-serving billboard for the NAR. BTW; My mother has MS, and I used to work in loss mit. for a large national bank. ... more
1 vote 7 answers Share Flag
Mon Aug 10, 2009
Jean (Zhihong) Fletcher answered:
I would suggest you to Interview a couple of agents and work with one who can be your ear and eye.

There are some good opportunities.

Thanks,

Jean
0 votes 5 answers Share Flag
Sat Apr 26, 2008
answered:
Doreatha,
If you have equity in your home, it is a good idea to use it to avoid foreclosure. If you do not know what your home is worth, contact a realtor to get a market analysis of your home. If you are in the triangle, I will provide a free market analys for you. If you have enough equity, it is probably wise to get a home equity loan to make your payments and protect your credit score. If you find that you do not have enough equity, then you should contact your lender and explain that you have extenuating circumstances and expect to get caught up in three months. Good luck and I hope your husband gets well soon. You can reach me at 919-357-6064 or contact via my website. ... more
0 votes 4 answers Share Flag
Sat Apr 26, 2008
Daniel Eberwein answered:
Doreatha - First thing is call your lender and explain the situation to them, and see what options they have for you. They may have options that help keep you in your house. If they are unable to help, contact a local housing assistance service and see if they are able to help. If nobody gives you options that help keep you in your house, talk to you bank about a line of credit or home equity loan, and see if you can get enough to hold you over until disability begins. But be sure that you'll be able to afford all the payments and monthly expenses from his disability pay. And also look at selling and see if you can get your equity out of the house. If you’re in the Triangle area of NC, I can help you look at your house values and talk about selling conditions in this market. Please let me know if you have any questions ... more
0 votes 1 answer Share Flag
Wed Mar 5, 2008
answered:
Foreclosures are posted on the Durham County website. Remember these properties are usually sold "as is" meaning no repairs done by the seller and you will likely be required to agree to terms that are not required in a normal transaction. Make sure you consider the cost of repairs into your offer price and be sure to hire a licensed inspector for advice. ... more
0 votes 3 answers Share Flag
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