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Foreclosure in Aurora : Real Estate Advice

  • All247
  • Local Info25
  • Home Buying83
  • Home Selling16
  • Market Conditions6

Activity 20
Wed Jun 10, 2015
Deenateen answered:
To help move its inventory of foreclosed real estate owned (REO) properties, Fannie Mae is offering financing to home buyers that they will not be able to get anywhere else (even through Fannie Mae's regular mortgage programs). The property must be a Fannie Mae REO.

Click here :
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2 votes 9 answers Share Flag
Tue Jan 6, 2015
Shaun Dixon answered:
Before you begin the hunt for foreclosure properties, take a look at the different stages of the foreclosure process where buyers can find potential bargains on properties
0 votes 3 answers Share Flag
Fri Aug 1, 2014
Dan Tabit answered:
If you're looking at a RealtyTrac listing, the price has no bearing on what it takes to buy it. This may have been the amount owing or in arrears. Once bank owned, the bank will decide when to list it with an agent and at that time a meaningful price will be placed on it. ... more
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Sat Jun 28, 2014
Matt Overbee answered:
Hello maplemale, just curious which lender you're working with that will do the loan based on a plumbing inspection report (air test). I'm having trouble finding one that will take that instead of having the water turned on. ... more
0 votes 9 answers Share Flag
Mon Aug 26, 2013
David & Maria Landman answered:
sometimes the foreclosure on the first lien will sell the property and all other liens will still outstanding. That is why a short sale is a MUST DO for homeowners in distress since that is the way to take care of second liens and all outstanding liens recorded on your title. If the foreclosure happened being the first lien holder the one who foreclosed, then second liens and all other issues will follow the homeowner with no property to stick around. ... more
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Mon Aug 26, 2013
David & Maria Landman answered:
you do not need to go to any private website from any person the public trustee website is free and for all!
0 votes 13 answers Share Flag
Tue Dec 18, 2012
Sally Grenier answered:
I agree with Robert. And...You need to be asking your attorney these questions. If the house was sold at auction on 4/9, and they let you stay there til 4/23? that sounds pretty nice to me. Many buyers (like investors) aren't so nice and could have put you on the street that day, or worse. You no longer owned that home and were essentially tresspassing.

Robert is right on...Recording with the county can take weeks. That has no reflection on when the property actually changed ownership.

And yes, you are still responsible for the HOA fees, trash, utilities, etc. that were being charged to you while you owned the home. If you had pursued a short sale, you could have had all of this negotiated.
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Sat Oct 6, 2012
Esther Harnsberger answered:
Good Day to you, Steve, I am also an investor and Realtor. I'd be happy to assist you. I can be reached at 303-902-1435. Kind Regards!
0 votes 8 answers Share Flag
Thu Jun 7, 2012
Matie answered:
You need to contact the agent and ask him to send you pictures of foreclosure
0 votes 2 answers Share Flag
Tue Jan 18, 2011
Laura Stewart answered:
The best way to research this is to check with the assessors office for the county the property is located in. If you would like me to look into it for you please email or call me directly and I will be happy to help you; or 720-937-2846. All the best to you Maria! ... more
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Mon Aug 16, 2010
Brian Burke answered:
Like the other answers said it is listed now with an agent. The Bank is the Seller and now you must deal with the Agents if you want the Home.
0 votes 4 answers Share Flag
Mon Jan 4, 2010
Charka answered:
Thanks to all for the answers and additional resources. I will be contacting an attorney to see what can be done to avoid paying this joke of an HOA.

0 votes 5 answers Share Flag
Wed Mar 18, 2009
Bob Schenkenberger answered:
Don't take this as legal advice, because I'm not an attorney (I don't even play one on TV) but it is practical advice. I wouldn't waste my time with a Lawyer. Your rental agreement allows you to live in the property in exchange for the monthly rent. It doesn't matter if the landlord isn't paying the mortgage. Therefore, you don't pay, the landlord can evict you.

The rest of the story is that your landlord is presumably using your rent money to pay for other bills (hence the foreclosure) and you moving out and not paying, puts him/her in a worse position. He/she may be willing to take less rent monthly for you paying cash? I don't know, but I'd ask. A July foreclosure tells me this is very early on, and it has a chance to be resolved. Unfortunately, if house does get sold at foreclosure, you'll be asked to leave.

I think at the very least you should talk to the landlord and get the timeline straight as to what the likely foreclosure/move out date may be. You may find out the owner has worked out something with the lender and everything is status quo. Who knows? Open the lines of communication and try to make a win/win out of this lose/lose situation.

Good Luck
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Sat Mar 14, 2009
Brian Burke answered:
is there any paper on the window??? Are the locks changed???
How long where you gone when the box was put on???
This is weird? I would suggest get in touch with the Public Trustee.
0 votes 4 answers Share Flag
Tue Oct 7, 2008
Robbeaux answered:
Stuarts advice is great. The best thing is to avoid foreclosure anyway you can.
0 votes 2 answers Share Flag
Mon Aug 25, 2008
Bill Eckler answered:

Each foreclosure transaction is different and there is no canned formula on which you can depend. One thing is certain about what each banks expectation sell for as much money as possible.

Your best bet in getting a feel for where your offer needs to be is to review closly the details of the recently sold property form the subject's vacinity.

Our advice it that if this is THE one and you really want the home, you offer shuld be as close to their asking price as possible, to avoid losing it to another interested party.

Good luck,
The "Eckler Team"
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Sun Aug 17, 2008
Brian Burke answered:
The 85% of market value is pretty accurate. They would like to get 90% is possible. However, each short sale is unique. It also depends on many factors what the lender considers the market value. ... more
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Tue Feb 5, 2008
Rinh answered:

Tim Childs gave you the best answer. This area is building like mad and the prices are dropping. You don't want to lose equity after you move in. The houses are beautiful but check the schools, local news before you make your decision. I think I read somewhere that some homeowners are having issues with their foundations. I’m not a realtor, just a homebuyer like you. ... more
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