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Foreclosure in Woodstock : Real Estate Advice

  • All134
  • Local Info14
  • Home Buying36
  • Home Selling8
  • Market Conditions4

Activity 9
Mon Oct 31, 2016
Maricris A answered:

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.


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Tue Aug 9, 2016
Angelica P answered:

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

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

Thank you for using Trulia!

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Sat May 28, 2016
Scott Godzyk answered:
Not sure what you mean. If a house is in foreclosure, the bank doe snot own it until the foreclosure is complete. The bank can not sell what they do not own
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Wed Dec 25, 2013
Hank Miller answered:
Lawyer up - it's my experience that when things go bad the lender will look to collect from all involved. A cosigner would likely be in the cross hairs.....

But speak with a lawyer and the lender ... more
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Wed Sep 28, 2011
Hank Miller answered:
Have the HOA do the leg work, they have legal contacts that are likeluy on retainer.

FNMA does rent homes, I appraise occupied homes every once in a while and the crazy idea of renting them in volume has again been brought up despite a history of failure.

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Tue Nov 23, 2010
Yeshua answered:
Thanks for your input Hank. What seems to be the only consolation here in this for me is that this home is located within a 3 minute walk of my present home. It is located in a really nice swim/tennis neighborhood that is kept up quite well and the HOA fees are reasonable. The home is withing 3 minutes walk to the really large and nice swimming pool, clubhouse, tennis courts, childrens' park, etc. I've been walking, running, and biking in the community for over a year. 99% of the homes and lawns in the community seem to be well kept. There are no upcoming foreseeable "assessments" requiring funding beyond the normal reasonable HOA fees. There have only been a few foreclosures in the community and most of them are now sold. Through God's grace and mercy I plan to stay in the home at least 10 more years...hopefully by that time things will have gotten better in the real estate market and the worst case scenario would be that I could at least break even if I sell.
There are high rated schools, great popular restaurants, shopping are within 5 - 10 minute drive. My office is only 4 miles away...opposite direction of the interstate...0 traffic. And I can be on the interstate in 4-7 minutes. Neighborhood is quite and you can't hear the interstate noise. Also, if I rent out my condo, it is only 2 city blocks away and it will be easy to be a landlord / maintenance man.
I did not use a REO real estate agent...just a good old rookie (has sold about 15 homes - non-foreclosures/short sales) young guy, retired Army...Iraq/Afghanistan veteran. I did most of my own homework..but because the Seller required me have an agent...I got him involved because I knew him as the Property Manager of my Condo Association.
I pray I wasn't victim to a "phantom" bidder in the bidding process...I wondered however because of their way to prove I guess. It was on AltiSource.
The impression I am getting here from the feedback thus far is that I might have done a little better, yet could have done a whole lot worse...and that with the state of the real estate market..there are no guarantees of either. Life if full of risks right? If you don't take some every now and then you'll never know the joy of success!
I guess it is full steam ahead at this point, for my due diligence period is ended, hoping and believing for it to work out to be a good decision and a good investment. Worse case scenario is that I will at least love living there.
Thanks for all of your contributions.
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Thu Aug 26, 2010
Courtney Gore Smith answered:
Mr. Wilkes is right. you can google the counties tax divison many have the list available online.
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Fri Dec 18, 2009
Chad Swoszowski answered:
The value of a home is based on like properties in the same neighborhood, or within close proximity to that neighborhood, that have sold. Unfortunately, foreclosures have everything to do with the value of the properties around them. We, as rational thinkers, can look at a neighborhood and say, "This house was sold for 95K but it was foreclosure while the house down the street sold for 130K as a regular sale". The problem is that the powers that be deem all sales as the same, a sale. To answer your question in short, 100% and just as much as a "traditional" sale. ... more
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