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Foreclosure in Alamance County : Real Estate Advice

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  • Home Buying1
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Activity 12
Wed Jun 11, 2014
Keith Jean-Pierre answered:
I would suggest giving a call to the local board of education for this information.
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Sat Dec 21, 2013
David Carter answered:

Are you still looking for an agent in Burlington? Call me at 336-693-5551 and let's see if we could be a good fit. I have experience with buyers looking for foreclosures and I can possibly help you.

David Carter
Allen Tate Realtors
... more
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Thu Jun 28, 2012
Rich Homer answered:
No. Find a Realtor right away in your proposed zip code. You can search "Find a Pro" in the header of this website. From your friends at
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Thu Jun 28, 2012
Tim Moore answered:
They all sell, the bank buys it back. Then the bank owns it and now they can sell it because before the foreclosure they did not own it, only the owner can sell it. It can takes months to get around for the bank to list it for sale. ... more
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Sun Jun 6, 2010
Steve Moore answered:
Thu Jan 14, 2010
Adrian Huntington answered:

When banks approve short sales they send out an Agent to do a Broker Price Opinion "BPO", or they have an appraisal completed. Whether Fannie Mae, or Freddie Mac, the bank is looking to net a predetermined dollar amount. I know Freddie Mac wants to net 88% of the Broker's Price Opinion. If your lowball offer nets the magic percentage your offer could be accepted. ... more
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Thu Jan 14, 2010
Zane Gerringer answered:
You should have a Realtor do a CMA taking into consideration the condition of the property, etc. It's impossible to answer without an address and viewing the property in person.
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Thu Nov 12, 2009
April asked:
for 3 months. Now, my husband is no longer working. I have been sent a final loan modification offer and the payment is now $400 more than what the trial period amount was. I cannot afford…
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Fri Oct 16, 2009
Larry Story answered:
On a HUD foreclosed home you will get two weeks first shot if you are going to be a owner/occupant. The first two weeks are generally reserved just to take bids from owner/occupants. After that the bidding is open to investors also. A HUD home is of course a government foreclosure. You can as Jimmie suggested build the closing costs into your offer. Basically for example if you wanted to buy a home listed for $100,000. You were going to only offer the seller $90,000 but you also wanted $3,000 in closing costs. Then your buyer's agent would put the offer together offering the seller $93,000 purchase price but asking for $3,000 back in expenses for closing. It is a common practice but depending on the home and how much lower you are then the listing price as to whether they will agree to your offer.
One of my buyers just went under contract on a foreclosure in Graham with closing costs built into the offer. It is a fairly common practice.
I suggest you get a buyer's agent to start working with you if you do not already have one and have them start helping you with your search and buying strategy.

Hope this helps,
... more
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Thu Sep 24, 2009
Vivian Olkin answered:
Why not talk to the tax office again to find out how they handle these situations. This is not the first landlord who has defaulted. You might also ask about a time line. It is going to take them quite a while because of legal issues and notification to the general public. It could easily take months. Find out about how you should approach your rent payments. The county has an attorney you may be able to talk to about this. ... more
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Thu Feb 19, 2009
Sharon Trenary answered:
Hi Mary,
There is good news and there is not so good news. FIRST the "not so good"....Countrywide is the most difficult of the lenders to deal with. Why is anyone's guess but they are just plain difficult. SO...yes unfortunately they are going to make you m,iss up to 3 payments before they will talk to you about a new loan....HOWEVER
>> under this new "stimulus" package of the President's IF YOUR HOME IS WORTH LESS THAN YOU OWE...they may be required by law to work with you BEFORE you 'tank' your credit. SO watch the news like there is no, I mean NO tomorrow....I am in the same boat. So that is (1st) possiblity.
>> A second possiblity (2) is to be late on one goes against your credit because they will turn you in immediately (as if they get great pleasure from ruining people) to the credit reporting co...and it will be a "ding" in the grand scope of things but then ON YOUR INSISTANCE ("things like: Let me speak to your manager!" and then speak to not whim...just state the facts and be sure to get their names, etc. and keep a record of time, date and who you spoke with in all this.....because now you are going to send your Congressman/woman a report of how you are being treated and the answers you are getting from these 'lenders"....and do not be afraid to be stern, (not angry, not nasty, just stern) DO NOT FORGET how much of our tax money THEY got just to stay in business....remind your public officials about this too. This is not the easiest road to go down but it is one of the only ones available until we get more information. Get to is terribly time consuming but to my way of thinkin' it is the only PRO-ACTIVE avenue we have. If the public officals don't know about the problems they can't try to fix them....and right now they SAY they want to fix them. (I have my doubts but eventually we may get SOMETHING done and honestl.y that is all we have. better to be in 'action' than to sit on our collective hands and cry about it!)
Good Luck

Sharon Trenary, Broker-Associate
Allison James Estates & HOmes in FLorida
... more
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