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Foreclosure in Louisville : Real Estate Advice

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  • Local Info41
  • Home Buying216
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Activity 41
Tue Aug 22, 2017
Lillypud asked:
The house across the street was foreclosed in 2014. In fact, all of the data listed at my address is for the house across the street. How does this get mixed up on at least 3 major home…
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Wed May 17, 2017
Kathy Burgreen answered:
DON'T DO IT!!! Please NEVER co sign for anybody or anything. You will regret it. Here is how it works: If you co sign, it means you are legally responsible for the loan. If the borrower (your Mom) defaults or pays late, the lender will force you to pay the monthly payments.

Example: We co signed for our son's student loans. The payments started 6 months after graduation and within a year, he started paying late. Payments are due the first of the month. He was paying around the 15th of the month. Between the 10th and 15th of the month, we received up to 4 phone calls everyday from the lender requesting payment. They threatened to garnish our salary, put a lien on our house and they have our Social Security number so they can take our IRS tax refund. And this is because our son paid 15 days late - he never defaulted. He always paid the loan. You should have been on the receiving end of those phone calls. They do sound threatening and they mean business.

Tell your Mom's lender that you REFUSE to co sign. Explain to your Mom that co signing will ruin your life and yes it will make it difficult to get a mortgage loan if you want to buy a home. When you apply, your lender will take the co signed loan with your Mom into account and it means your debt to income ratio will be higher than it should be. Lenders view it as you owe the entire loan even though it's your Mom's responsibility BUT you co signed for it.
... more
1 vote 1 answer Share Flag
Thu Dec 29, 2016
Ljfleming108 answered:
In my personal experience I think yes, due to constraints on time, there is no flexing of dates in the contract.
The closing date is set, not agreed to as in a seller to buyer where the seller can cooperate to make the sale easier on the buyer or even flex on the date financing has to be in and not have the contract default. ... more
0 votes 9 answers Share Flag
Thu Dec 29, 2016
cwshopct answered:
The same thing happened to me except I couldn't sell the house due to the crash of the housing market. There are a few things you need to do.
1. You have to wait two years and pay all your bills on time for the two years.
2. You have to reapply for a Certificate of Eligibility directly from the VA as they have to determine how much of your benefits are left from the foreclosure.
3. Once they are contacted they will send you a breakdown for what you can use if you don't pay the outstand balance back to them.
... more
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Sat Apr 9, 2016
lynne branch asked:
Mon Mar 14, 2016
Billwalters3220 asked:
Sat Nov 28, 2015
Scott Godzyk answered:
Sometimes there is a delay from when it is foreclosed to when an agent is assigned. You can check the doors as they should oist their contact info once assigned. You can also hire a buyer broker who is well experienced with bank owned homes to assist in locating info. ... more
0 votes 3 answers Share Flag
Thu Nov 5, 2015
Dan Tabit answered:
The Foreclosures posted here are generally not for sale. RealtyTrac doesn't sell homes, they sell subscriptions to information that the average person can't use.
You should find a great agent, discuss your hopes, dreams and goals and see what they can do to help you achieve them. ... more
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Sat Jun 20, 2015 answered:
kfwhat do I do to buy through Bidselect? I am interested in two locations.....kit 817-724-2853
0 votes 3 answers Share Flag
Tue Aug 5, 2014
Nicolas Ellis answered:
It can be looked up on the PVA site. You have to have a login which I can handle if you would like to give me a call. 502-371-5005 *I say the PVA because we can pull the deed copy quickest from that site without knowing the name of who purchased it. ... more
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Mon Jun 2, 2014
Tim Moore answered:
Including an address always makes searching for a house easier.
0 votes 1 answer Share Flag
Wed May 7, 2014
Sheila asked:
Mon Feb 24, 2014
Josh Barnett answered:
0 votes 2 answers Share Flag
Thu Oct 24, 2013
Nmatthews30 answered:
what is the process and time frame when a bank acquire property at a foreclosure sale in memphis tenn
0 votes 6 answers Share Flag
Tue Sep 17, 2013
Davis Boland answered:
I would suggest checking on the website They are always updating their properties and have locations throughout Louisville.

Good Luck!

Davis Boland
0 votes 4 answers Share Flag
Sun Sep 1, 2013
Debra (Debbie) Rose answered:
Sun Sep 1, 2013
They only way you can proceed is to contact the bank and see if you can work out a deal to keep the home. Good luck.
0 votes 8 answers Share Flag
Sun Sep 1, 2013
If it is withdrawn then that usually means the bank is not ready to sell the home at the courthouse.
0 votes 2 answers Share Flag
Sun Sep 1, 2013
They can foreclose upon the collateral, which in this case is the property, so your name is probably on the deed and they will have to transfer the deed back from you to the bank after the sheriffs sale. ... more
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Sun Sep 1, 2013
You usually don't order the appraisal and title work until you have a purchase contract. Seems like you are doing this transaction backwards.

Let me know if you have questions.

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
... more
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