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Foreclosure in Fayetteville : Real Estate Advice

  • All249
  • Local Info26
  • Home Buying73
  • Home Selling14
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Activity 9
Mon Jul 25, 2016
Awallercole asked:
My house just recently went under foreclosure and I have a little over 30 days to vacate. I take care of my 80 year old mother who is bed ridden we're on section 8 and I just can't seem…
0 votes 0 Answers Share Flag
Sun Mar 16, 2014
Sanjeev Ahuja answered:
If you are not applying for mortgage then there is no question of getting turned down. You may need to take into consideration if there are other expenses like any money needed to pay property taxes in advance, legal fees, any pending violation fines etc that the selling bank will not pay.
Good Luck!

Sanjeev Ahuja, NMLS #148731
Mortgage Broker
Home Funding LLC
110 Jericho Turnpike Ste 214
Floral Park, NY 11001
Direct Phone 917-517-2552
NYS Registered Mortgage Broker, Dept of Financial Services, Loans arranged through third parties (NMLS # 885573)
... more
0 votes 2 answers Share Flag
Sat Mar 15, 2014
Diana Watson, ABR,MRP,SFR answered:
There are lenders that usually take scores 640 and above. This is not saying that some will not work with under 640. try the loan officers below. They are awesome to work with and are available on weekends if necessary to answer questions.

J.R. Williams
Loan Officer
NMLS #457768
4187 Sycamore Dairy Road
Fayetteville, NC 28303
CELL: 910-494-5710
OFFICE: 910-429-0181 Ext. 275
FAX: 855-256-4937
www.southerntrust.com/JR

Mortgage Loan Officer II
Navy Federal Credit Union
4200 Morganton Road, Ste 200
Fayetteville, NC 28314
Larry_Davis@Navyfederal.org
Office: 910-867-4565
Cell: 910-991-5589
Fax: 910-867-4408
NMLS 832874
... more
0 votes 10 answers Share Flag
Thu Jan 13, 2011
David Sattelmeyer answered:
I help investors purchase VA Foreclosures frequently using the Vendee Financing currently available through BoA. This special financing is different from a conventional loan from BoA for a non-distressed property. VA sponsors this special financing provided by BoA to serve as an incentive for them to clear their inventory of veteran foreclosures (VA guarantees veteran loans). I have seen two cases in the past year where it took 4 months to close on the foreclosure, but usually they are done in about 60 days. If you have passed the 60 day mark, I would be prepared for a 4 month time frame. ... more
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Tue Dec 14, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
The only bank I had any experience with has been bank of america.
The experience was not as good as the the agents that responded before me. They were not sure on how to handle the process and there were delay after delay. Even when escalating it, there process did not improve. My buyer finally withdrew their offer and purchased another property.

It all depends on the bank and the processors level of experience.

Wish you Luck

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
http://www.milwaukeebailout.com
... more
0 votes 3 answers Share Flag
Sat May 29, 2010
Queen Wheeler answered:
Hi Latisha,

Foreclosed homes can be good opportunities for buyers and investors, however not always. I believe what you are referring to is a different way of purchasing homes through purchasing tax liens, a good book to read up on that type of deal is Rich Dad Poor Dad or by googling it on the web. There are risks with both tax lien purchases and foreclosure purchases. Often times foreclosed properties are sold as is and all needed repairs are at the buyer's expense and it can get costly. You will also possibly inherit any liens that may be on the home so you have to do your research. I hope that this information will give you food for thought and push you towards gaining more info so that you can make the best decision for you. ... more
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Thu Oct 8, 2009
Shawna Green answered:
Daniel is correct, there is no way to determine before hand what the bank will accept or not accept. Even the listing agent will not know the answer to that question until they submit the contract. There are also other considerations such as are you asking for closing costs or a home warranty? One last item you need to keep in mind, what type of loan are you using? Often times, you might not be able to use certain types of loans due to the condition of the home. You need to discuss these types of questions with your Realtor. If you are not currently working with a local Realtor, you can contact me at Shawnag@kw.com or (910) 309-4618. ... more
0 votes 2 answers Share Flag
Tue May 12, 2009
Teresa Wolf answered:
If you are facing foreclosure you need to contact your lender and see if they are willing to work with you. If you have a lot of equity in your home you can sell. If you do not have a lot of equity you need to discuss a possible short sale with your lender.
You may contact me at twolf@c21cornerstone.com
... more
0 votes 1 answer Share Flag
Tue Dec 23, 2008
Manu Kapoor answered:
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