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60542 : Real Estate Advice

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  • Local Info1
  • Home Buying10
  • Home Selling1
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Activity 12
Tue Sep 6, 2016
Aamowery answered:
my house was foreclosed on and auctioned off- I still have a family member living there, who has stopped paying me the sum he was paying for use and access to the house- and is staying there till the date the bank has asked him to leave

the house is now owned by the bank- can I shut off the utilities
... more
1 vote 9 answers Share Flag
Fri Jul 8, 2016
Rocquemore2 answered:
Sun Aug 16, 2015
Bob Brandt answered:
This happens sometimes even without a foreclosure or bad winterizing and is one reason to consider a separate home, if that is an option.
0 votes 3 answers Share Flag
Wed Dec 31, 2014
answered:
Hi Donnarobie,

Unfortunately a bankruptcy does not release the lien against your home that was created by the mortgage you took out. Your responsibility for that debt was discharged and as a result the lender's only recourse is to foreclose on the home so they can try to sell the home to offset their losses.

The good news for you in all this is that the sooner the lender takes back title to the home the sooner you'll be eligible to buy again.

Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.

Please feel free to contact me for more information or help.

John Burke
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
(877)228-9069
NMLS# 787231
http://www.trulia.com/profile/john-burke-mortgage-broker-or-lender-austin-tx-993995/reviews
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0 votes 2 answers Share Flag
Thu Jan 16, 2014
Kelly Crowe answered:
Yes you should have final readings taken for each utility company and give them a move out date. They technically won't shut off the utilities but the banks preservation company or perhaps the new listing agent will put the utilities in their name. Since you will not be living there you are not responsible for them. ... more
0 votes 3 answers Share Flag
Wed Sep 11, 2013
Airel Hermosillo answered:
Hello, If the property was not mortgaged to you , than you have no financial obligation to it. A bank most likely has obligation to pay taxes for it = check the mortgage statement. Unless , you live there , than I dont see the need to pay for utility bills. I would recommend you attempt to have all services shut - off and maybe winterized.

Please do seek the services of an attorney First to see if you have been willed the home and have any obligation to it. If you will be able to do a short sale , after the fact.

Thank you ,

airel hermosillo
... more
0 votes 4 answers Share Flag
Wed Nov 7, 2012
Melissa Kampschroer Leetzow answered:
Deb

I would think the bank does not know that you are living there. The company doing the winterizing would have communication with the bank...let them know. Am sure the bank would be happy for you to be a tenant and care for the property rather than the expenses to care for themselves. ... more
0 votes 2 answers Share Flag
Tue Jan 24, 2012
Eric Hall answered:
I would speak with some local real estate agents that do a lot of Foreclosure Sales. They will be able to get you in contact with the companies that clean or maintain their listings. I would also contact large commercial real estate brokers. They may have similar opportunities. ... more
0 votes 2 answers Share Flag
Thu Apr 28, 2011
Jeffrey answered:
If they haven't yet foreclosed, perhaps you could see if the owner would be willing to short sale to you. The other obvious answer, is to just run the sub-pump under your electricity. ... more
0 votes 8 answers Share Flag
Fri Sep 24, 2010
Dave Richert answered:
It is a forced sale. But I would not market it that way if you need to sell. It is not anyone's business why you are putting the home on the market. The main thing is to find the right price and then to present the home online in the best possible manner to procure a sale.

I wish you the best.
... more
0 votes 4 answers Share Flag
Tue Aug 21, 2007
Renau answered:
Realtor.com is a good site to check for rentals.
0 votes 1 answer Share Flag
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