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Foreclosure in Oklahoma City : Real Estate Advice

  • All426
  • Local Info35
  • Home Buying152
  • Home Selling42
  • Market Conditions11

Activity 20
Thu Jun 15, 2017
Pablo Wilson answered:
You don't need a "Realtor". Not one of these people commenting can lay out an example of what can go wrong. You can make an offer to the bank, and they can accept it, and that's that. You can negotiate with them. Your best dollar spent is at the title office where documentation actually matters. ... more
0 votes 12 answers Share Flag
Thu Apr 20, 2017
Maricris A answered:
Hello,

I apologize we have false foreclosure information listed on our home details page. This data is provided to us from Zillow foreclosures and we currently do not have the ability to edit or remove the information that they are sending us.

Please be advised that I have created a request regarding the removal of the erroneous foreclosure information for your home on Zillow.

Once the status is removed from Zillow, it will automatically update to Trulia after 24-48 hours.

Regards,

Maricris
Consumer Care Advocate
... more
0 votes 1 answer Share Flag
Thu Feb 9, 2017
extrememike asked:
Apparently there are some potential saving here. However most properties properties I've seen require intense renovation. How should I plan to make sure this properties don't have…
0 votes 0 Answers Share Flag
Sat Sep 19, 2015
Melissa Dana answered:
Thu Apr 24, 2014
Josh Barnett answered:
Great question, maybe the planning department can help, www.okc.gov/planning
0 votes 1 answer Share Flag
Mon Jul 29, 2013
Josh Barnett answered:
Any Realtor that you would like to.
0 votes 10 answers Share Flag
Tue Sep 4, 2012
lk4home answered:
Most people have "bermada" grass it will not die it just goes dormant untill watered or rain. But, I think most are just to "lazy" and "cheap".
0 votes 6 answers Share Flag
Fri Aug 17, 2012
Josh Barnett answered:
Brooke Stone,

You may need to check with the Oklahoma Department of Environmental Quality if have to clean out old meth houses, in the extreme. But just regular cleaning I do not believe you need a license.

Ensure you get contracts w/ the banks, so you have adequate inventory year round.

DEQ site: http://www.deq.state.ok.us/

Good Luck,

Josh Barnett, Realtor
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0 votes 2 answers Share Flag
Fri Mar 23, 2012
Rose Wilkinson answered:
If you are behind on your payments, the bank will keep the insurance check... end of story. Funny you should ask, I just had this exact same situation happen two months ago on a house I bought through Bank of America. We had to catch up the payments in arrears before they would agree to release HALF of the insurance check. They only agreed to release the other HALF when the work on the roof was complete. ... more
0 votes 2 answers Share Flag
Fri Mar 23, 2012
Elva Wormley answered:
Hi Rick,

I believe buyers "think" they are getting a "better deal" when they purchase a foreclosure, regardless of whether it is true or not.

Best regards,

Elva Wormley
C2 Financial Corporation
(408) 615-8500
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0 votes 4 answers Share Flag
Fri Feb 24, 2012
Bob Willett answered:
HUD REO contracts are absolutely not buyer friendly – but then no REO contract I’ve ever seen is. The way I read the contract, the only way you as the purchaser can absolutely receive your deposit back is if the property is damaged AFTER the contract is signed but BEFORE you close. Under Section E of the Conditions of Sale when referring to damages incurred after the date of the contract where FHA financing is NOT used it states: “Seller will not repair damages but may, at the sellers sole discretion, reduce the sale price. Purchaser has the option to cancel the contract and receive full refund of earnest money deposit.”

The interesting thing is if you read Section B, it says “Purchaser acknowledges responsibility for taking such action as it believes necessary to satisfy itself that the property is in a condition acceptable to it … and agrees to accept the property in the condition existing as of the date of this contract.” But then the very next line says that “It is important to have a home inspection performed on the property in order to identify any possible defects.” So… you sign a contract that says you are buying it in its current condition, but then it says to have a home inspection. However, if you find any problems in your inspection, your only choice is to walk away and let them keep your deposit? Did I mention that this is not a buyer friendly contract?

Of course the real question is how strictly does HUD adhere to this contract? I would be surprised if HUD keeps every deposit where a home inspection turned-up problems and the buyer didn’t want to buy. I know I’ve had buyers back out and I’m pretty sure HUD never retained any their deposits. I wouldn’t be surprised if they did for investors though. I would be really interested in finding out what the outcome is in this case, and if anyone else has come across similar situations please post it.
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1 vote 5 answers Share Flag
Wed Jul 13, 2011
Anna M Brocco answered:
You can either directly contact the listing agent, or any local agent/realty office can also help you with any necessary infromation...
0 votes 2 answers Share Flag
Sat May 21, 2011
Vincent P. Adams answered:
-We administer the process of a mortgage eradication. You can stop your foreclosure process. Please call me for -more information. 918-402-6206.
0 votes 8 answers Share Flag
Fri May 20, 2011
John Phillips answered:
Good afternoon: The bank will put the home back on the market just as soon as they get everything legalized. Normally from this piont it does not take long: It usually takes less than 60 days:

Send me your information and i will watch it for you and as soon as it come up for sale it will contact you
Thank You
John Phillips
Re Max Preferred Properties
jphillips81@cox.net
405 413 0791
... more
0 votes 2 answers Share Flag
Sat Sep 18, 2010
Felix Hung answered:
Here are two free list with over 100 companies:

http://www.bpoaccess.com/

http://www.bpo-companies.com/
0 votes 2 answers Share Flag
Wed Dec 16, 2009
Voices Member answered:
That's an interesting question Tiffany....

I'm gonna bump this question back up to the top so we can see if one of the Pros is familiar with this...

Good luck, Dunes
0 votes 1 answer Share Flag
Wed Dec 9, 2009
Dutch Revenboer answered:
There is also another possibility, in that the lender may in fact have taken the property back, but it has not "come back around" onto the market as an REO (Real Estate Owned) property. There is a lot of foreclosed inventory that has not yet been marketed, as the lenders do not wish to flood the marketplace with properties, which would further decline values. They are releasing properties back into the market at a steady, controlled pace.

If you are bargain shopping, there are lots of homes currently on the market that might meet your needs. I would be happy to work with you to find the one that meets your needs.
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0 votes 4 answers Share Flag
Fri Aug 28, 2009
Phill Slocum answered:
HI, I tried to encourage my son to make money assisting in cleaning homes, and so I thought I would mention it to you, and hope it is a good idea for you or someone.

Here is the Idea:
There are many Home owners, Investors, REALTORS, plus foreclosed homes in need of clearing out. I would sugguest making a flyer for your business, and then visit every Real Estate Office/Realty and leave one flyer in each mailbox for each REALTOR. I am sure you will get added work from leaving the flyers.
I know of several REALTORS who could have used your assistance.

This does not really address the answer to your question, but I hope you find it useful or of some benefit.

Our Web site:
http://www.WestOkcRealEstate.com
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0 votes 2 answers Share Flag
Fri May 29, 2009
Suzanne Walker answered:
What will be comfortable? That will depend on your income to debt ratios; meaning how much money is coming in each month and how much goes out for bills and monthly expenses (typically guidelines say only 41% total of your income can be dedicated to expenses) . An ideal loan payment and I stress ideal will be less than 25% of your income. Most guidelines will allow up to 29% for your PITI payment (principal+Interest+taxes+insurance) Based on what you are saying you will not be able to factor your income/potential income into this loan (I am assuming you are full time student). Lenders require two solid years of consistent employment.

Hands down start by talking to a bank or lender. Do not soley rely on our answers. Your question lacks way too many details and you want a reality check after filling out a loan application. We're just ballparking for you. Go to the bank you do business with first. Give that bank a chance to earn more of your business. Then get a good, solid reference and price the loan. Loan products are no different than any other product. They come in different shapes, sizes and prices (you get the point). Depending on who you talk to will depend on how much you pay and what kind of service you are going to receive. As first time home buyers you need to find someone that will be patient and explain things to you; not just throw paper in front of you and say, 'sign here.'

Please visit our website and blog for more information and best of luck!
Susan Walker
... more
0 votes 5 answers Share Flag
Wed May 14, 2008
Emily Erekuff answered:
Hi Mike,

How much does what cost? Can you clarify your question?

Thank you,

Emily Gibson
Customer Service Representative
1 vote 1 answer Share Flag
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