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Foreclosure in 50317 : Real Estate Advice

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  • Local Info1
  • Home Buying7
  • Home Selling2
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Activity 3
Wed Nov 9, 2011
Wayne Depenning answered:
If it goes to sheriffs sale, you have probably lost the house. If there are title issues not cleared up prior to the sale, they may stay attached to the property and the new owner is liable. usually at sheriffs sale, the buyer is the lender holding the mortgage. this may give you an opportunity to work with them, maybe not. Foreclosure will have a bad effect on your credit regardless of if you fight it or not. ... more
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Tue Feb 15, 2011
John Sacktig answered:
Each state has different foreclosure laws.

Please clarify if this is your home or a home you are renting the home as there is a difference. Iowa has a right of redemption, Between 6 months to 1 year - and this would apply to the owner of the home, not the tenant. Please advise as the options will then present themselves.

John Sacktig
Broker / Manager
Orange Key Realty
Direct: 732-213-1409
JSacktig@orangekeyrealty.com
... more
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Fri May 22, 2009
Susan Webster answered:
Most Foreclosure homes that have gotten clear title will be listed with a Real Estate Agent who specializes
in REO's. Deutsch Bank owns many homes in Central Iowa and all of the ones I have seen have been
listed in the MLX. Homes that you have found in the Assessors page are probably still somewhere in that
long process of clearing title. Why it takes banks so long to get this done doesn't make any sense to me, however, as this process is more complicated than most real estate transactions, and most asset managers won't even look at offers that don't look like they come from someone who knows what they are doing, if you are really interested in this market find an agent who knows this niche market. Remember
that the seller is already paying the brokerage fee, so having a buyers broker gives you someone who looks
out for your interests. In fact if you get an agent to sign a buyers brokerage agreement you have a legal
guarantee that that agent will represent your best interests!
... more
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