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Foreclosure in Battle Creek : Real Estate Advice

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  • Local Info6
  • Home Buying28
  • Home Selling3
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Activity 7
Andy Bayes, Real Estate Pro in Charlotte, MI
Thu Nov 29, 2012
Andy Bayes answered:
I would contact your local attorney to get advise. Some banks will work with you and some won't. In any case I would prepare for any out come, Just to be on the safe side.
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Andy Bayes, Real Estate Pro in Charlotte, MI
Thu Nov 29, 2012
Andy Bayes answered:
Paul McIntyre, Real Estate Pro in Portage, MI
Tue Oct 18, 2011
Paul McIntyre answered:
While I would never dream of giving you legal advice, let me give you some personal advice - check out an attorney's track record before you hire him/her. At the very least it is clear that your original attorney did not advise you of the full scope and consequences of your bankruptcy filing. I'm sorry for your predicament. ... more
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Bob Movin-On,  in Hartford, CT
Tue Dec 28, 2010
Bob Movin-On answered:
The statue of limitations has not run out yet so they can still go after the deficiency which is the amount the bank lost less the amount they sell it for and if it does not sell then I guess they could come after the full amount.
I would start to live through a trust if I were you.

Bob Patrick
Buy a home after foreclosure expert
Movin-On LLC
Helping families/people that have lost their home get back into a new one in as little as 6 months.
... more
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Keith Manson-…,  in Milwaukee, WI
Sat Dec 12, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
What happens is the va guaranty the servicer of the loss up to the coverage that is set at the time of origination of the loan. The coverage can be as high a 50%. There is a complex formulia they use to determine the loss. What happens, is after the foreclosue sale the servicer files 2 claim to the va and the va repays according to their procedures and coverage established at origination. Typically the maxium loss is around 27% for VA.


Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
... more
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Derek Bauer, Real Estate Pro in South Lyon, MI
Mon Jun 29, 2009
Derek Bauer answered:
I would advise you seek legal counsel to represent you and answer your legal questions. We are real estate professionals, and can not give legal advice.

That said, a foreclosure is a foreclosure whether on a primary residence or an investment property / second home. A deficiency judgement can still be issued and collected on. If you are upside down and can prove hardship, I advise you work with a professional on a short sale. If you would like the name of someone in your area, I would be happy to provide. Just email me at Derek@DoorToDreams.com, or contact me through my Trulia profile.

Thanks, and best wishes to you.

Derek Bauer, Associate Broker
Real Estate One
... more
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