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Foreclosure in 75070 : Real Estate Advice

  • All57
  • Local Info6
  • Home Buying22
  • Home Selling1
  • Market Conditions2

Activity 3
Tue Jul 3, 2012
Dallas Texas answered:
WELCOME to the world of foreclosures ALLLLLLLLLLLLLLL the issues that Realtors and professional have to resolve.

If I were you NOT YOUR PROBLEM.. .allow the professionals resolve the issues. Have them notify you when you can close.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
Multimillion Dollar Sales Producer

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Sun May 29, 2011
Dallas Texas answered:
Your buyers agent is professional to assist you , with reviewing the entire document NO Realtor can render an opinion

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Wed Sep 29, 2010
T.E. & Naima Sumner answered:
Anytime the foreclosure auction yields less than the balance, either on the first or second (or even third) lien, the borrower is responsible, but Federal law, not Texas law, provides some protection. An attorney can explain what the law allows.

If you have sold a property as a "short sale" instead of allowing it to be foreclosed, the lender will frequently offer to forego pursuing deficiency as part of their approval of the sale. But they don't always do that.

If the lender has not tried to offer a loan modification or other HAMP/HAFA deal, and you have not tried to sell as a short sale, then at this point with foreclosure looming, not many options are open to you. However, you should consult legal counsel to find out if there is any other option available to you that makes sense.
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