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Foreclosure in 63123 : Real Estate Advice

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  • Home Buying8
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Activity 5
Sat Feb 19, 2011
Michael Emery answered:
Are you speaking of a true co-op where all the owners own a share of the property? (100 owners would each own 1 percent of the property) or are you talking about a condo/townhouse where you essentially own the four walls and a portion of the common areas?

In the case of some condos/townhouses, you may be liable for certain repairs outside of the HOA fees that are collected. This is either done by special assessment where a pool of money is collected and the work is done on the entire complex, or the homeowner may have to pay someone to fix a problem that is specific to their unit.

If it's a co-op, it's more likely that the HOA would access for repairs or draw the money from HOA reserves. It's less likely that the individual homeowner would be liable for repairs as you are a marginal owner of the whole property.
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Sat Feb 19, 2011
Patricia In St. Louis, Mo answered:
To get some excellent hopefully advise at a reasonable price, sign up for about $16 a month for pre-paid legal. You request and get to talk to a lawyer with the speciality you desire who can advise you free....s/he will not go to court with you if that is the need. He will advise you and offer concrete recommendation....no other fees.

I lived in California for 20 years and used them alot. I moved to Missouri mid 2009 and signed up for the same price for the pre-paid legal organization in this state. Probably go on line to find such an organization in your state.
No need to go into their office....all discussions I had were on the phone. I have not had experience with chatting with a lawyer on a blog, so I cannot say.

I want to purchase a condo and came online to find out what condo fees cover in the state of Missouri. I found your request and thought I would add info from my experience. Best wishes for a sucessful home keeping! Patricia in St. Louis, MO
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Fri Feb 4, 2011
Justin Ruzicka answered:
Here is a blog on Mortgage Modifications...be careful. Read about the first hand knowledge I have with them..

http://2000shortsales.blogspot.com/2011/01/mortgage-modifications-or-loan.html ... more
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Thu Jan 28, 2010
Sheila Worley answered:
PLEASE DON'T WALK AWAY FROM YOUR HOME!!

Have you considered a short sale? A short sale is an agreement with the bank that allows you to sell your home for less than the balance of the loan. A short sale is by far better to have on record than a foreclosure. There could be repercussions with the home in a foreclosure situation beings the lien holder has the right to come back to you for the difference of what it eventually does sell for.
Please talk to a Realtor who has extensive experience in the area of short sales and foreclosures.
I am happy to answer any further questions you may have as I specialize in short sales. You do have options available, do not run from the home!!
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Fri Sep 5, 2008
William Bermudez answered:
Hi Lisa, my name is William and I work for a law firm that specializes in loan modification in Glendale Ca, and have client's all over the united state including MO. YES we are legit and help hundreds of borrowers every single month all year long. Go ahead and give me a call so that I can answer all your questions.

323-839-5411

William.
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