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Foreclosure in West Orange : Real Estate Advice

  • All147
  • Local Info10
  • Home Buying75
  • Home Selling9
  • Market Conditions1

Activity 9
Wed Sep 17, 2014
Bonnie Degroot asked:
Thu Oct 10, 2013
Andrew Tisellano answered:
Wed Oct 9, 2013
educate141 answered:
Tue Oct 8, 2013
Marsha Bowen Washington answered:
It appears that you might have been kept in a trial plan that was never made into a permanent modification and then denied. If this is the case, you should find out why you were denied. Without knowing specific details, it's difficult to determine your reason for denial. If I can be of further assistance, let me know. ... more
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Sat Jul 20, 2013
Andre Thompson answered:
You really should talk to a real estate attorney. Most realtors are not lawyers and cannot answer this question because we cannot and should not give legal advice. With that said, you should seek the counsel of a qualified real estate attorney. ... more
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Fri Feb 25, 2011
Diane Glander answered:
Hi Angelica,
Your daughter will not be eligible to purchase the home if you are in a state of foreclosure. No direct relatives can purchase it at a sheriff's sale.
However, it sounds like you are on your way to keeping your home if you are on a trial payment plan. Just keep paying on time and you should be fine.
Should you decide to sell, you should start talking to the bank about a short sale.
... more
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Tue Mar 16, 2010
Victor Kaminski answered:
True, the bank has to and will get a sheriffs officer to get you out, especially if you are NOT paying rent.

In cases where the house was being rented and there is a lease to prove it banks must abide tenant law and thus can't just kick you out. HOWEVER this doesn't appear to be the case with you.

Yes the bank must be vacant for a bank to sell, heck they need to evaluate any hazardous conditions and secure, repair or disclose accordingly.

It is doubtful that your daughter will be permitted to purchase the home, the banks usually have disclosures as to family members being able to purchase the property but if she's married with a different last name and hasn't lived in the house herself the banks would never know.
FYI: NOT RECOMMENDED, it's fraud.
... more
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Tue May 12, 2009
Karen Barrett answered:
Yes, you can give the property back to the bank. You can do a Deed in Lieu of Foreclosure. This action alone will save the bank money and time. When anyone leaves their home you should take pictures of the property, exterior & interior. If there is what the bank would consider willful destruction of the property, these actions are not dischargeable in Bankruptcy and the bank could and may come after the client for damages. Many properties that are in distress, are being photographed for the banks, Real Estate Agents are hired by a 2nd party to inspect the properties for the bank to make sure their Asset is being taken care of. Photos, can provide proof that you left the home in good condition. Vacant properties sometimes attract crime. Mr. Blaison's suggestion to try and sell the property (short sale) is best. This accomplishes 2 things, you save your credit on a foreclosure or bankruptcy, and the home usually will sell for a bit more than what a foreclosure sale would bring. Values in your neighborhood will be affected, but not as drastic as a foreclosure sale (usually). Thus, trying to retain higher values in your community for your friends and neighbors. ... more
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