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Foreclosure in Avondale : Real Estate Advice

  • All97
  • Local Info12
  • Home Buying31
  • Home Selling5
  • Market Conditions2

Activity 13
Diane Christ…, Real Estate Pro in Sarasota, FL
Sun Apr 26, 2015
Diane Christner answered:
Would suggest contacting a local attorney that handles foreclosure issues to look over all of your paperwork and give you an appropriate answer to your question. We agents cannot give legal advice for obvious reasons. Good luck, I hope things work out for you. ... more
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Martha M. Na…, Real Estate Pro in Goodyear, AZ
Tue Jan 14, 2014
Martha M. Navarro answered:
Hello Henry
There are 2 homes in that street one is at 2606 S 110th Dr price is $130,000.00 and 2702 n 110th ave Price $ 170,000.00 I notice you mention Dr then I am pretty sure you meant that one. This super clean home with a nice open great room floor plan and vaulted ceilings, new custom two tone paint, upgraded ceiling fans throughout, large eat in kitchen, breakfast bar, tile in kitchen and traffic areas, gas stove and double fridge included, inside laundry, 2 in blinds and large master bedroom with patio doors leading to covered patio and private backyard. All located in the well kept Sanctuary master planned community. Do you want to scheduled a visit please call me 623-341-6345 ... more
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Lisa Buirse, Real Estate Pro in Glendale, AZ
Mon Dec 2, 2013
Lisa Buirse answered:
Good Morning Dseaton, what is your question?
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Renee Fisher, Real Estate Pro in Goodyear, AZ
Sun Apr 29, 2012
Renee Fisher answered:
Hi Sara,
If you can send me the address of the home in Avondale, I would be happy to show you the home.
Thanks
Renee Fisher
0 votes 1 answer Share Flag
Rosio Robison,  in Goodyear, AZ
Fri Nov 11, 2011
Rosio Robison answered:
You're still responsible for the past due HOA dues even after foreclosure. However, you want to call the HOA company and confirm.
0 votes 8 answers Share Flag
Abu Musa, Real Estate Pro in New York, NY
Wed Sep 28, 2011
Abu Musa answered:
Buyer can make an offer what buyer think reasonable. In case of short sale it is the Bank who makes the decision. Because bank is losing money in this transaction.So you can make an offer but bank can say yes or no.Than you go up.Good luck. ... more
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Jane Austen, Home Buyer in Avondale, AZ
Thu Oct 21, 2010
Jane Austen answered:
I would like to thank everyone that answered my questions during my ordeal with this house, unfortunately i have to move to a rental home. We lost our five thousand dollar down payment plus what we paid for the inspection, and appraisal, its time for us to cut our loses and move on, again Thank you for all your help and advice. ... more
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Sandra Paulow, Real Estate Pro in Pinetop, AZ
Wed Oct 13, 2010
Sandra Paulow answered:
You need to talk to an Attorney. There are a lot of factors on loans that may or may not make the holder liable for the difference. It is much too complex an issue to discuss in this forum. You need a good Real Estate Attorney to review everything and advise you. ... more
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James Wehner, Real Estate Pro in Scottsdale, AZ
Wed Oct 13, 2010
James Wehner answered:
You would have to refer to the contract you signed with the owner of the property to see what you have the rights to. Also, a real estate attorney would be a great source on this one.
1 vote 3 answers Share Flag
Elva Branson…, Real Estate Pro in Jonesboro, GA
Wed Jul 14, 2010
Elva Branson-Lee answered:
I've almost always (in every case save one) been able to get the lender to forestall or postpone a pending foreclosure sale when I demonstrated that I had the property listed for short sale. The lenders have all required proof of listing such as aopy of the listing agreement and a copy of the MLS listing printout.. And, as others have commented, it certainly helps to have an offer on the table.

In the one instance where I was unsuccessful in getting the sale forestalled, there was actually a very good offer on the table -- but it was just too late in the lender's process wen the he sellers contacted me to market the property. Even with an excellent offer in hand, the foreclosure could not be postponed.

But that is one instance out of dozens. Time is always of the essence! Never wait too late to get help.

Check with your lender right away to see if it is possible to postpone the sale while you continue to market the property. And be sure to check with the foreclosure department, to make sure that they got the memo. Often in large organizations, the left hand does not know what the right hand is doing.Make sure everyone is on the same page.

Elva Branson-Lee, CDPE
Solid Source Realty GA
Best Atlanta Short Sales
... more
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Bob Movin-On,  in Hartford, CT
Mon May 10, 2010
Bob Movin-On answered:
Well if you want a foreclosure and deficiency judgment hanging over your head then let it go but these events are life changing and make life very difficult.

Ramifications of Foreclosure, Short Sale or Deed-in-lieu-of-foreclosure

Here are some of the ramifications of foreclosure, short sale or deed-in-lieu-of-foreclosure, there are many more like your job, yes employers are checking credit records these days.

Your credit score will be reduced by 200-400 points, short sale a little less 100-200 points.

All forms of foreclosure stay on your credit report for 10 years.

After you have gone through foreclosure, short sale or deed-in-lieu-of-foreclosure there will be what is known as the "waiting period", this period of time varies for each and can be reduced if you had some type of extenuating circumstances that caused the foreclosure:
Waiting Periods to Buy After Foreclosure
* Buying After a Foreclosure
The waiting period is 5 years up to 7 years.
* Buying After a Foreclosure with Extenuating Circumstances
The waiting period is 3 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure
The waiting period is 4 years up to 7 years.
* Buying After a Deed-in-Lieu of Foreclosure with Extenuating Circumstances
The waiting period is 2 years up to 7 years.
* Buying After a Short Sale
The waiting period was just upped from 2 to 3 years. However, if a seller does not have a 60-day late pay, that seller may immediately buy another home. It's a reason to stay current on your payments while the home is on the market as a short sale.
In addition to the waiting period, most loans require a minimum down payment of 10% and a minimum FICO score of 680. The home purchase must also be the principal place of residence, not a rental nor a vacation home.

Lastly, most loan applications will ask the dreaded question "Have you ever been foreclosed on?" this stays with you for life, many think that because it will not show up on the credit report after 10 years they can answer "no", well lying on a loan application is a felony that carries a major jail term, so be aware.

Good Luck,
Bob Patrick
Buy a home after foreclosure expert
... more
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Molly Bering…, Real Estate Pro in Ocean City, MD
Wed Apr 21, 2010
Molly Beringson answered:
unfortunately, the short sales section is the newest formed part of the bank process , all lenders are doing their best to assist this process, but takes time!
0 votes 7 answers Share Flag
Keith Manson-…,  in Milwaukee, WI
Fri Nov 13, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
You need to talk to you bankruptcy attorney to confirm what happened. If in fact you discharged your debt, to complete a work out you would have to re affirm you debt. Both the first and second would have to be reaffirmed unless they were addressed separately in the bankruptcy. However, again, this is very complex and you should have legal counsel review the situation before you do anything!

If you don't want your house tell the bank the chapter ,case number and date filed and dismissed. Then start looking for a new place to live.


Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
... more
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