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Foreclosure in Albuquerque : Real Estate Advice

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  • Local Info32
  • Home Buying155
  • Home Selling43
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Activity 22
Fri Jun 9, 2017
Gonzalezharry92 asked:
I would like to know if you also supply a list of homes sold in the area of homes you email on a daily basic
0 votes 0 Answers Share Flag
Wed Nov 9, 2016
Maricris A answered:
Hello,

It is in the hands of the Home Owner if he/she wants to post the photos of his/her property on the site.

If you want to know more information about the foreclosure property, you may check the county record where the property is part of or you may also contact a foreclosure specialist near your area for assistance.

You can take advantage of our vast network of agents here on Trulia. You may found the link below.

To search for a foreclosure specialist using our site:

1. Go to the link that I provided, enter the location where you're at and click enter.
2. Click the 'More filters' button and choose 'Foreclosure' under specialties.
3. Click the 'Search' button.

We hope your experience with Trulia is memorable and thank you for using Trulia for all your real estate needs.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Regards,

Maricris
Consumer Care Advocate
... more
0 votes 1 answer Share Flag
Fri Nov 20, 2015
Tgonza5088 asked:
Tue Sep 8, 2015
Diane Christner answered:
Bank asset managers generally will not deal with individuals wanting to purchase foreclosed homes. When the properties are ready to put on the market they are either listed with local real estate agents or are placed on one of the auction websites for bidding. Sorry, you'll have to wait. ... more
0 votes 2 answers Share Flag
Tue Aug 18, 2015
Tyeshaolga answered:
No bank will sell to you directly. It is unusually long but the reasons could be title issues, house tied up in probate, a junior lien or even IRS lien... http://ForeclosureIQ.com



Additionally it's often impossible to contact a bank regarding a foreclosed home. About all you can do is either keep track of the property or have a real estate agent set up an auto search on MLS for when the property is listed. But even then there's no guarantee that the investor will sell or whether the property will ever see the open market.
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1 vote 11 answers Share Flag
Thu Aug 14, 2014
Steve Quintana answered:
You can call me to discuss your situation.

Writing an answer here will not get you the information you need.
0 votes 3 answers Share Flag
Mon Aug 26, 2013
Dean Ocksrider answered:
Your email was sent to the wrong email address, as we do not have a foreclosure in Princess Jeanne. Thank you!
0 votes 4 answers Share Flag
Mon Feb 18, 2013
Leigh-Jo Anzures answered:
Hi Victor,

I strongly recommend obtaining legal advice from a qualified attorney regarding this matter.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
0 votes 5 answers Share Flag
Tue Mar 20, 2012
Leigh-Jo Anzures answered:
Since "foreclosure" is a process, change in ownership may not have occured yet. Are you renting the home, or are you the owner? If you are the homeowner and your name is on the mortgage, you can call the bank who is servicing your loan to request the status of the loan. They can give you details regarding your current standing.

Now, if you're renting and are unsure if the landlord is going through foreclosure, this can be tricky because, you won't have permission to discuss details regarding the loan. You may want to contact the landlord regarding your concerns.

If you're behind on payments and are no longer able to maintain the mortgage, you may wish to first try loan modification, deed in lieu or short sale. Avoiding foreclosure should be a priority.

Give me a call, text or send me an email and I'll break down all of your options.

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
1 vote 5 answers Share Flag
Sat Mar 3, 2012
Leigh-Jo Anzures answered:
To make it easier, in addition to my real-time map-based property search that is linked diretly from the local MLS (Multiple Listing Service) database, I can set you up with FREE listing alerts.

This way, you don't have to worry about searching every 5 minutes to see what you missed, the listings will come directly to your email. The results are based on your specific criteria (e.g. Location, Price Range, Minimum Bedrooms, Minimum Bathrooms, etc.).

To set up the FREE listing alerts, go to: www.syan.com/alerts

Leigh-Jo
Syan Real Estate
Call/Text: (505) 730-8181
... more
0 votes 9 answers Share Flag
Wed Aug 10, 2011
David Stafford answered:
With a good job, and debt wiped out, you should be able to rent for awhile and save up for a good down payment and you may be able to buy on a REC (typically about 10% down) and still take advantage of this down mkt and low financing costs. I am happy to help navigate this strategy. ... more
0 votes 4 answers Share Flag
Sat Oct 30, 2010
michele cadogan answered:
As my fellow associates have suggested I would say hire an attorney. Or If you really want to push this call your local News station Im sure that they have a consumers reported who would love to work on this issue with you . Here in New York on one of local stations there is a consumers feature call Help Me Howard. Im sure that there is something similar in your area. Best of Luck. ... more
0 votes 6 answers Share Flag
Sat Aug 7, 2010
Eric Trujillo answered:
This is a very common question people have, but it is not a formula that works 100% of the time. A better question to ask is what is the house worth? Once you determine what the house could sell for in this market, you can compare that price to the current list price, and make some determinations from there. I have seen plenty of REO sales that have gone WELL over list price because the current market value of the home exceeds the current list price. Similarly, I have seen many REO sales that the list price FAR exceeds the current market value. In either case there will be different approaches to negotiations.

As far as pricing for future depreciation, well... That is a sticky situation. No one can predict what the future will hold. It could appreciate greatly in the next year due to a new company opening or sheer development in the area. There are lots of variables in this equation and the best thing to do is take all into consideration and arrive at a value that YOU feel comfortable with. It is futile to discuss anything more/less. It ALWAYS comes down to the buyers comfort level on a particular property.

There are plenty of choices out there. If this one gets away, there is a always another one just around the bend.

Negotiate HARD! It is a buyer's market and a unique opportunity for wealth building by entering the market during a depressed real estate cycle. The property is ripe for the plucking, have some fun with it!

Good Luck! I hope you find what you are looking for and that the property grows to be an astounding asset to you.
... more
1 vote 10 answers Share Flag
Thu Dec 10, 2009
Rose Varona answered:
Also, today there you can take advantage of the homebuyer tax credit for first time homebuyers and acquire your own home. You get $8,000. For more details contact me at 505-247-0507 ext 111 for more information. You can own instead of paying someone elses mortgage pay towards your own investment and become a homeowner. Good luck to you! ... more
0 votes 3 answers Share Flag
Tue Dec 8, 2009
Evan Spealman answered:
No. HUD homes are sold in "as is" condition. They have not been repaired sense the late 1970's.
Prior to that time they were fully repaired and sold with a "bumper to bumper" warranty. ... more
0 votes 6 answers Share Flag
Wed Oct 14, 2009
Philip answered:
Hey There, how many apartments are empty? And what part of town are they in ? You say it has deteriorated in the neighborhood, or are they just in a bad area to start? I am in Albuquerque and may have some ideas for a solution to your problems, note I said MAY have, my e-mail is prhorn@gmail.com if you are interested shoot me a message. ... more
0 votes 1 answer Share Flag
Wed Oct 14, 2009
Philip asked:
Fri Apr 24, 2009
Gil Ortiz JR answered:
Properties in this situation require a different level of expertise. Knowledge of market trends, Pricing that is "value priced" rather than priced to satisfy payoff obligations, and navigating thru the contractual , liens, title aspects of the transaction. There are some brokers with such knowledge that have investors who seek such opportunities. That broker would have knowledge in several areas. Experience in marketing, REO properties and a knowledgeable team to capture the best deals. I have some ideas that may be useful and would seek new clients and produce a positive outcome for all parties.

G. O. 505 920 4047
San Cristobal dev. / Broker / Advisor
Abq/Sfe/Corrales
... more
0 votes 4 answers Share Flag
Sat Jan 31, 2009
David Stafford answered:
Mike, Dennis just provided a great answer with lots of good information. I can tell you from my experience with short sales that just because the 1st is so far upside down that there is no value for the 2nd does not mean a short sale can't work. The 2nd will realize this and usually be willing to release the lien as fully satisfied (no deficiency judgment following you) for as little as $1000 in your case - need to make sure they agree to the full release before signing anything! The 1st will usually be willing to pay the 2nd $1000 if the offer still nets them more than if they foreclosed, as Dennis pointed out. This number is usually about 85% of CURRENT MARKET VALUE, which they will determine by Broker Price Opinion or appraisal - make sure to meet these people at your house and explain that you are trying to avoid foreclosure and point out all the problems with the house - explain that the value needs to be accurate! You might also offer them some coffee - my point is that social engineering can help make sure they do not overvalue your house. In order to do all this, almost all lenders will require that you list the house with a licensed agent, so take the info Dennis and I have provided and call a few agents and ask them about a short sale, if it sounds like they are explaining the things we have explained, then you might have found one who can help you. You will have to price aggressively. Best of luck to you Mike! ... more
0 votes 2 answers Share Flag
Wed Jan 28, 2009
David Stafford answered:
It is usually possible, but depends on a number of variables. How many months behind are you? It typically takes about 4 to 6 mos for the foreclosure process in NM, though that depends on the aggressiveness of your lender. Have you received a notice of lis pendens? That will be your first formal public notice that they are proceeding with foreclosure. The most important thing you can do is open a dialogue with your lender. Do not stick your head in the sand and hope it will go away. It varies from lender to lender, but many are willing to modify loans now - negotiate new and better terms for your loan. Alternatively, if you are willing to sell, many lenders are willing to take the proceeds from a legitimate sale (lenders almost always require real estate broker involvement) as full satisfaction, even if it is less than what is still owed. How long have you owned your house? If more than 4 years, you likely have some equity and may be able to sell and even make enough money help find a new place for you and your family. In either sale case, you need to price aggressively to sell quickly. If a notice of lis pendens has been recorded, you have likely received a large number of letters from investors. Some of these can actually help, but you must be very careful of these options as there are a number of scams out there and, regrettably, many unscrupulous "investors". Be extremely cautious and get professional help on your side if dealing with any of these folks. My answer is getting longwinded, but the most important thing I can say (again) is that you need to have frequent open communications with your lender to resolve this. You might also want to get an experienced local real estate professional involved as a consultant in order to help determine which of these options is best for you. Best of luck to you BJ! ... more
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