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Foreclosure in Clearwater : Real Estate Advice

  • All636
  • Local Info44
  • Home Buying181
  • Home Selling17
  • Market Conditions43

Activity 21
Fri Nov 3, 2017
Rolfingsmeyerj answered:
Bill, my husband and I would like to talk with you. We have been going through the same thing here in Florida. 4 times with the forclousure no rights for tenants. My husband is disabled and have a special needs daughter. No money to move with but still forced to pay rent. Would like to see if you have any helpful information for us. Going through the forclousure now. Just found out oct. 17 when Fannie Mae showed up at the door. Asked the owner and all he said was, letting property go. You might have till Nov 1 don't know a time. Now my husband is I'll from the stress. If you have anyone or information that can help I would appreciate it. . ... more
0 votes 25 answers Share Flag
Sun May 31, 2015
Budd Morris answered:
You might want to consider mobile home parts** some are on the water and less rent
0 votes 1 answer Share Flag
Mon Apr 13, 2015
Terrance Coulombe answered:
Hi call me. I can help you. Send me your email address. Mine is and my number is 7273653704. Terrance is my name and I am a real estate agent. I might be able to get you a house that you will own. ... more
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Mon Apr 13, 2015
Cameron Afshin asked:
if a property is foreclosed by the HOA will the first mortgage survive the foreclosure? What about other potential liens? Are any liens erased with the foreclosure?
0 votes 0 Answers Share Flag
Tue Dec 2, 2014
Ruth and Perry Mistry answered:
Hi Punta

Sorry to hear you are having issues.
Yes you do have to pay rent, as per contract.

The bank in due course will give you a notice or post it on your door.
The Bank will likely have to honor your contract with the previous owner.

Good luck.
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0 votes 1 answer Share Flag
Mon Jan 13, 2014
Vangie Pappas answered:
There really is nothing you can do, except start looking for a new place to live. The owner has stopped paying on his mortgage and that is why he is in pre-foreclosure. You, however, cannot stop paying rent or you will be evicted. The sooner you give notice of moving to the owner and find a new place to live, the better for you in the long run.

Vangie Pappas
Pappas Realty & Management Co.
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0 votes 7 answers Share Flag
Tue Dec 31, 2013
John & Barbara Schinn answered:
it's about a 20 minute drive to Clearwater beach and the same to Honeymoon Island. to get to honeymoon island you just get on Belcher road (which divides On Top of the World in half) and go north to Curlew Rd. take a left and stay on that until you hit the guard station at the beach.

if you are thinking of buying in OTOW, why not use two realtors who have lived in the community since july of 2000. most of the agents who answer questions about OTOW have never lived here, and most who answer have never even sold any in here.

my wife and I sold 43 condos in OTOW this year alone. call us any time at 727-278-1135.

--john schinn, Olympia gold team realty
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Sat Jun 9, 2012
Lin McNulty answered: 727-424-2300

Check out my website and contact me by email or cell or Text.

I look forward to working with you. ... more
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Thu May 17, 2012
Alma Kee answered:
Although it's correct that they can't sell off your loan to a collection agency if they've taken the loss by filing a form 1099 with the IRS, I have heard of it happening. You may get threatening calls from sleazy collection attorneys and I wouldn't even put it past them to file a judgement lawsuit against you. If that should happen, make sure you hire an attorney and don't just "do nothing" or they may automatically win at court.

If you get collection calls then you also may want to hire an attorney to find out how to notify the company calling you that you will sue them if they continue to call you!

Best to consult an attorney if calls start coming in.

All the best,
Alma Kee
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0 votes 7 answers Share Flag
Fri Oct 28, 2011
Gerard J. Cleary answered:
Grand Bellagio in Clearwater & I quote " run Forest run " poor construction, high HOA fees in excess of $800.00 per month and many many forclosures & defaults if you want more info just email me @ Thank you Jerry ... more
0 votes 6 answers Share Flag
Thu Oct 27, 2011
Stephanie Leon answered:
President Obama signed the "Protecting Tenants at Foreclosure Act of 2009." This legislation provided that renters would survive a foreclosure -- meaning the tenant could stay at least until the end of the lease, and that month-to-month tenants would be entitled to 90 days' notice before having to move out (this notice period is longer than any state's non-foreclosure notice period, a real boon to tenants).

With an exception to the buyer who intends to live on the property -- this buyer may terminate a lease with 90 days' notice.

Importantly, the law provides that any state legislation that is more generous to tenants will not be preempted by the federal law.
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0 votes 9 answers Share Flag
Mon Mar 28, 2011
Reoagent1 answered:
You should use Citron & Bloom LLC. They are attorneys and a title agency and close a significant number of short sales and REO properties across the State of Florida. They have a lot of experinece and are very friendly and professional to work with. Most importantly, they know how to get deals closed.

2900 University Drive
Coral Springs, FL 33065
Tel: 954-340-6060
... more
0 votes 4 answers Share Flag
Sun Mar 6, 2011
Heather Sobecki answered:
Hi Pippo,

This property is not currently listed, but there are several properties on the market in that community. Are you looking for information regarding if it is in foreclosure or not? Send me an email at and I will look up any information that you need.

Look forward to helping you!

Heather Sobecki
Charles Rutenberg Realty
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0 votes 2 answers Share Flag
Sun Sep 13, 2009
Pamela Cohn answered:
Largo Di,

Good information given. Ask yourself the following.

1. Do you have to be moved in a certain time frame? If so do not consider "short sales". Often the Lender on a short sale will not even do a BPO (Broker Price Opinion) until they receive an offer. The list price may not even be acceptable. Have your realtor check out the debt ratio to list price. As the first offer, you may just be a guinea pig to get the ball rolling. Once they do BPO they need to decide if they are willing to do a "short sale" vs. "foreclosure", determining where they will lose less. And then there is the wait to see if they can get a better offer. This waiting period is usually 45 plus days. If there is more than one lender the chances of closing decline drastically.

2. What is your financing situation? If you are looking at a "Short Sale" or bank owned, they are going to be examining your ability to pay. They don't want to end up in the same situation a couple of years from now. A larger down payment or cash is going to carry weight in these situations, especially if there are multiple offers. As the others have stated, if it looks good to you it probably will to others also. You need to see them as soon as they hit the market and move quickly. Those who think that because it is a "Short Sale" or "Bank Owned”, they can go in with a low offer are wasting their time. These are the Sale Prices. If the bank owned property has not been on the market at least 100 days, don't be looking significant price reductions. Have your financing in order before you start looking. If you are paying cash you will need to show proof of funds.

3. Which will close faster? I would say almost always, if not always, a bank owned property closes quicker, and it closes. Short sales can run on with the buyer in limbo for months, only to find out a second lender won't agree and it becomes a dead deal.

4. Important point Loretta brought up.... Why only look at short sales or bank owned? Presumably you are looking for the best deal. It very well could be an estate sale or a motivated seller with equity that HAS to move. Don't limit your options. Discuss your home requirements with your realtor and then let her find the best choices out there that meet your needs.

If you are not already working with a realtor, I 'd be happy to assist you. I have a free service called “Listingbook”, which I provide for my clients. It is like a back door into the MLS, which updates daily: price changes, solds & withdrawns, allowing you to really be able to follow and learn the market. I set up a basic search according to your guidelines. Once you are in, you can change the parameters, as you need. If this is something you would be interested in let me know.


Pam Cohn
Broker Associate, GRI, CDM
Prudential Tropical Realty
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0 votes 5 answers Share Flag
Fri Sep 11, 2009
Loretta Buckner answered:
Largo Di--you are correct to be wary of the short-sale lender's situation concerning title. You need to know everything about the situation on the seller's side before obligating yourself in this short sale, because the bank will always keep the control.
There have been situations that buyers have gotten into where they have purchased a home as a short sale, and received foreclosure documents AFTER the contract was closed, so yes, do be cautious and know exactly what you're getting into.
I do believe, however, that your title insurance policy should protect you against these title-clearing conditions, and I have not yet had a short sale delayed by the lender for any reason. I have had several attempted foreclosure purchases fall through for just these reasons. Your own mortgage rate should not be locked until you have fully ratified contract, and it's generally good for at least 60 days, which more than covers most delays.

When the lender approves a short sale, they should give the correct amount of time required to close the contract--if they do not close at that time, my best advice is to move on, unless they can give some very specific reasons for the delay!
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0 votes 7 answers Share Flag
Wed May 14, 2008
Bill Eckler answered:

We did it for 8 years from upstate New York and didn't have a problem. The secret is identifying a top notch management company that will truly look out for your interests at a reasonable rate. The going rate is 15-20%. It's important to know if they offer maintenance support for thei customers and how many units they service. It's important to not be too large.

There are some wonderful rental areas on the west coast that receive heavy annual seasonal traffic including: St. Pete, Clearwater, Sarasota, and Venice. These locations offer the best in beach front living. Obviously, the closer to the water, golfing, amenities the more desirable your rental property and the higher the rate you can expect for your rental.

We would be happy to assist you if needed. Please feel fre to be in touch with us.

Good luck,
The "Eckler Team"
Century 21 Almar and Associates
Venice, Fl 34285
... more
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