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Foreclosure in Akron : Real Estate Advice

  • All211
  • Local Info18
  • Home Buying68
  • Home Selling10
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Activity 11
Wed Nov 22, 2017 asked:
Tue Jan 5, 2016
Aireseneca asked:
How can I walk away from the property when the bank won't take it over? My bankruptcy attorney can't start until the property moves to the next step.
0 votes 0 Answers Share Flag
Thu Oct 9, 2014
Nicely done Kimberly! The only government insured loan program that has a work around a CAIVRS Claim is the FHA Back to Work Program. Under this program, we the lender request a "Credit Waiver" from the the Washington DC HUD Office but his can take several weeks, so if you apply for the BTW this needs to be done in a timely manner. Other than that, Lenders have the discretion to proceed after 3 years from the date of the Trustee Sale, but the lenders who will actually do this are few and far between. Most lenders will not make that leap, leaving alternative loan products your only choice.

Best of Luck!
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Tue Sep 17, 2013
Cece Fox answered:
Summit county sheriff sales are held every Friday at 10 am. The foreclosure dates are a matter of court record. That date has nothing to do with the auction date. The sheriff is currently scheduling sales through next February. You can go onto the sheriff's website to search by street or plaintiff name to find out when or if the property is scheduled for sale yet.

Note that there is very little chance that a member of the public can win one of these auctions. The banks send their attorneys who generally outbid anyone. Remember, they are just there to secure the property for resale by the bank. They are not bidding real money, although they must put the required amounts of money up and eventually pay all of the back taxes in order to take title. On very rare occasion, the bank attorney is instructed not to bid and, sometimes, a property doesn't sell at all. It is taking Summit county at least 8 months to record the deeds.

In other words, you must be prepared with your money down and property tax money and wait a very long time to get ownership. If you do not want to be concerned about further deterioration of a vacant property, you need to be prepared to take care of it for a long time before you actually own it. In the meantime, someone could be living there and you may have to evict someone.
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Tue Jul 16, 2013
Thomas McCombs answered:
I do a lot of foreclosure projects, so if you will contact me I can answer your questions.
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Wed Mar 20, 2013
Ken Woods answered:
I have listed and sold many reo properties over the years. The system is showing one available on Parkgate and one that is already pending. Please give me a call so we may move forward.
Ken Woods Realtor 330-467-7000
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0 votes 5 answers Share Flag
Sun Mar 11, 2012
Daniel answered:
Builders, Realtors, Developers, Asset managers skirt Federal RESPA laws to try to "steer" you to use "their guy"

You are free to use any lender. If that Builders, Realtor, Developer, Asset manager tries to force you to use "their guy" in order to receive closing cost assistance, walk away from the deal ... more
0 votes 11 answers Share Flag
Fri Mar 27, 2009
Cindy answered:
some banks are not kicking out renters, but letting them continue to rent now.
good luck
0 votes 6 answers Share Flag
Thu Mar 26, 2009
Heather Hopp answered:
I've been looking these up myself. Sometimes I find things my realtor didn't even know about -yet. Try the direct foreclosure listings on bank websites as well as this website:

Also, when you look at MSL listed properties - keep an eye out for things listed at lower than the area price - as well as anything saying " AS-IS" "Bank owned" or " corporate owned".

In our area especially, I have seen them simply fly to sale - some don't even stay listed 2 days. If you plan on buying one- have your pre-approval and funds ready and have a realtor before you even go to look.
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0 votes 35 answers Share Flag
Fri Aug 15, 2008
blaison samuel answered:
The reason for price going up is most probably when the listing agent submitted an offer which is below market price(sometimes way below the market price offer) and after the bank BPO (Broker Price Opinion) came higher than the offered price, may be the bank asked for higher price so at that time that agent listed at bank's given price. You can always check with the listing agent for this changes, may be its of some other reasons.

There are lots of homes are available so keep checking and work with a realtor to help you to find a home. In California, most of the banks are not accepting 100% financing offers for the bank owned properties. I wish you all the best in finding you a home.
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