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Foreclosure in Nashua : Real Estate Advice

  • All135
  • Local Info7
  • Home Buying55
  • Home Selling9
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Activity 16
Tue Oct 10, 2017
Jgolda1973 answered:
a friend of my mine has been living in a two family house for the past 4 years paying the rent to the former landlord and come to find out that the former land lord was not paying the mortgage and he had gotten a letter just last year that the house was in foreclosure and he just got a letter in the mail addressed to someone that they say is living there for the past year and the letter is stating that the people have not paid there rent from june of this year to September of this year and he does not know what is going on the rent is only $950 and the letter is stating they have to pay $1500 per month and these people never lived here and if he goes to court about this matter they will send him away and no one has informed him if the house was sold or if the house was still in forclosure the last letter he got addressed to him was the house was still in forclosure and no one came to the house or called him to let him know anything about the house so what should he do because he done even know who to pay the rent to so what should he do about the matter. thank you for your time ... more
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Fri Apr 17, 2015
Jessica asked:
Sun May 11, 2014
George Rauh answered:
Owner: Fee Simple

tenants: Lease
Tenant at will
Transit tenant

Lease you have some teeth. The other two little or non.
0 votes 7 answers Share Flag
Fri May 24, 2013
Michael Dvorak answered:
You may want to pursue the purchase of a Fannie Mae home with "Homepath" financing which
would qualify for a 3% down payment. Your local Realtor can point you in the direction of these listings. ... more
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Sun Mar 17, 2013
Nataliya Carpenito answered:
My name is Nataliya Carpenito. I am an agent for Coco, Early, and Associates. I would be happy to locate the property for you. Please provide your contact info, e-mail address, and phone # so I can send information to you.
Thank you,
... more
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Mon Apr 30, 2012
Short Sale Mitigation, LLC answered:
Offer cash at closing. Most prom notes are double the amount that a lender will take if it's cash at closing. There could be many reasons why they are asking you for a promissory note. 1) do you have MI on the loan. If so, the MI company needs to cover it's deductible. Most NH housing loans have MI, so many times a NH housing loan will seek cash or a prom note at closing. 2) is the lender seeing some amount of money on hand?? If so, they will look for a prom note at closing 3) do you have a considerable hardship?? If the lender feels you don't have a strong enough hardship, they'll ask for a prom note at closing.

Keep in mind prom notes are UNSECURED notes, and usually don't have interest. My suggestion would be to start with a cash offer at closing. Even $500 is an attempt. We've had luck offering even less than half of what they wanted in the form of a promissory note.

Good luck.
Maryann Little, VP Mitigation
... more
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Tue May 17, 2011
Scott Godzyk answered:
Brenda your advice is wrong for NH, in NH property taxes would have to go unpaid for 3 consecutive years, if the home owner has a mortgage the mortgage company will pay the minimum due in virtually all cases so there is no tax sale. you see very few tax sales here in Nh Foreclosures are simple here in NH, however most forecosoure auctions require a cash buyer as you can not have any contingincies and most auctions call for a 20-30 day closing.

If i represented the wife, i would try a short sale immediately, having an agents who is well expereinced and provides a professional negiotiator may be able to get them to avoid foreclsoure and have the wife the best chance at buying.

The last factor is if the home owner, her husband, owes more than the house is worth, or has 2 mortgages than tee foreclsoure is the only thing to clear these liens oor the next buyer to not be responsible for them, her best bet is to get prequailified now, and then try and buy from teh bank after the foreclsoure.
... more
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Tue May 17, 2011
Scott Godzyk answered:
There are several ways that people are pulling this off, many are people buying a new house and then giving back there old house as they owe too much. the kicker is these banks will noty let this go, the bank taking the loss will check to see if they can recoup any of these losses from teh howm owners, it will be a wake up when teh old bank comes to attach their new house for these losses.

it is not as easy as you may be seeing , they may get away with it for the short term, but the bank always wins...
... more
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Mon Mar 21, 2011
Scott Godzyk answered:
Check with your divorce lawyer for advice on teh divorce and who is responsible for what, if you are still on that mortgage, you may want to contact the bank or have your lawyer contact the bank, look into deed in lieu of foreclsoure to end teh waiting or sell it at short sale to avoid teh foreclsoue that will live with you for the next 10 years. Same thing with bankruptcy, the new credit laws it could stay with you for 10 years so try and avoid both if you can, at this point a lawyer may be what you need for guidance, at least the first meeting which is usualy at no charge ... more
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Mon Apr 19, 2010
Ken Lambert answered:
Hi- I know 2 local small property managers that work in Nashua frequently. Both are also RE brokers here. I think you may need a little 3rd party help with this, especially if you are living way down in Florida. If you'd like their contact info, please email or call me and I can try to help you out a bit.
Thanks and good luck,
Ken L.
... more
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Fri Apr 9, 2010
Lisa Anne Landry answered:
You have no lease, so unfortunately your landlord is not legally obligated to move you. He is not selling in the middle of a lease.
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Mon Sep 7, 2009
Scott Godzyk answered:
Most often the website is not about providing you up to dat information, but a teaser to subscribe or pay for up to date informatio, all which you could get for free from reputable sites. There are no short cuts to getting info to "beat" out other buyers to a deal. Once teh property has been foreclosed, the property needs to be vacated, cleaned and appraised. then is put on the market with a local broker. Your best bet for getting up to date info on new listings to have a buyer broker or to check in with the leading listing agents of upcoming properties that they may be working on, but are not priced yet for the market. I often list the properties i have coming on the market on my web site, but are on hold due to a wait in being cleaned, waiting on an eviction or price. Bottom line...Dont pay websites... ... more
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Mon Jul 27, 2009
Scott Godzyk answered:
Good Afternoon Ryan,

In most cases the bank will look to recover the difference between the total you owe and what they get at auction less the cost of the foreclosure auction> if they deem you have no ability to pay or do not own other property, they may opt to write it off, only your lender can give you that information. Now depending on how far from foreclosure you are, there are options you do have. please feel free to email me direct at i can go over a couple of options, they mainly depend on if they have set an auction date and how far along the foreclosure is. There is always a short sale, loan modification and forebearance. i wish you luck working things out either way. ... more
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Thu Aug 21, 2008
Scott Godzyk answered:
Unfortanately short sales are not the deals they make themselves out to be. the average time to get a decision and then to actually close is 3-6 months. 9 out of 10 short sales dont close. The short sale process is only as good as the agent submitting and the asset manager making the decision whether to accept. Everything needs to be submitted right the first time, most files are shreadded if not received on time and complete. constant communication is necessary (daily in most cases). In this process first th bank has to approve the seller to even do a short sale. it requires all their financials and letter why they are in the situation they are in. If they get approve dthen they need a BPO and often an appraisal as well. Once they are done the bank will determine how much of a loss they will take in a short sale versus if they foreclose. In addition if there is private mortgage insurance the bank may not want to take a loss because if they foreclose they will get paid through them anyway. Best bet is to find out how far along they are and there are enough great homes fro sale at incredible prices without going thrpugh 6 months of torture, pain and suffering. ... more
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