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Foreclosure in Bexar County : Real Estate Advice

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Activity 76
Fri Jan 6, 2017
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
0 votes 1 answer Share Flag
Wed Oct 26, 2016
Bepinmariano.fernandes asked:
Sun May 29, 2016
Lidialia answered:
Fannie Mae is generally quick to give a verbal acceptance or counter offer. They're a little bit slower to get back a signed purchase agreement.

What should you offer? You offer what you believe the home to be worth. Believe it or not, that might be more than list price - not less. If a home has been aggressively priced by the agent / owner, they could have multiple offers above list price. But just as often Fannie Mae properties will be over valued. Typically Fannie Mae reduces their properties about 10 percent every 30 days - assuming they've not received an offer.

Web Reference: http://ForeclosureProcess.net
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3 votes 6 answers Share Flag
Sun Aug 16, 2015
Alex Marti answered:
Hi look for a clause in your lease that will state the notice you are going to be given if the home sells while your a tenant and based on that information then you can take action in this situation. Good luck! ... more
0 votes 10 answers Share Flag
Mon Jun 1, 2015
RonS answered:
Look up foreclosure on the CFPB website. You'll see that a servicer/lender/lienholder is required to wait until 120 days past due before they can file the foreclosure notice of default. File a complaint on line with the CFPB.

Small mom and pop lenders will get into a lot of trouble if they are not aware of this rule and, it doesn't matter what anyone says about it being Texas, this is a Federal rule.
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0 votes 4 answers Share Flag
Thu Mar 26, 2015
Ernie Behrle answered:
Go online a search for rental homes where you want to live. Ignore Craigslist, Zillow etc. and look for companies that handle home rentals. These companies handle individual homes for private owners and some owners are more concerned about your income to debt ration than your credit score. Even the best of people undergo credit issues from time to time.

Good Luck
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0 votes 1 answer Share Flag
Thu Feb 19, 2015
Jason Campbell answered:
Tax or federal liens first..

Purchase money can have several levels actually..

You can have a purchase money First Lien Mortgage and a purchase money Second Lien Mortgage.. We used to see this a ton back in the Sub Prime days.. 80/20 loans, 80/15/5 loans, etc.

If there are no tax liens on the property, generally your primary lender in first position get's proceeds first.. and then the subordinate liens get pain in order from there.

The best thing to do if you need more detailed info on a specific property is to contact a Title company... They can tell you what Liens are on the home and give their order.

Hope that helps.
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2 votes 2 answers Share Flag
Thu Feb 12, 2015
Londell Fleming answered:
No, statutory involuntary liens supersede all other liens on a property (Ex. County Tax Lien, Federal liens......)
1 vote 1 answer Share Flag
Mon Jan 5, 2015
Briana Sopala answered:
Robert,

As the previous agent pointed out...getting the equity information is the biggest challenge, and time intensive. Your best bet is to work with an agent directly to hunt for properties that meet your specific investment needs.

Agents who list rehab properties (like myself) will likely have the greatest knowledge in regards to the foreclosure market.
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0 votes 2 answers Share Flag
Tue Dec 2, 2014
Robert Spring answered:
I'd suggest calling the County Clerks office and asking if you can have a copy of the Reinstatement or Payoff Letter which are filed with the foreclosure documents by the Lender's Attorney. Those statements will list the balance owed and break out principle, interest, fees, taxes, etc. ... more
0 votes 3 answers Share Flag
Thu Oct 23, 2014
Bill Barkley answered:
I would first recommend calling the title company, and requesting a preliminary title commitment and HUD( settlement statement). You need to know exactly what you are getting involved with concerning the purchase. Second, I would recommend getting a Broker's Opinion of Value. I would like help or recommendations on how to proceed, feel free to contract me. ... more
0 votes 3 answers Share Flag
Wed Jul 9, 2014
Annette Lawrence answered:
Sum in San Antonio,
As I am certain you understood before you posted your question, this is a highly complex and extremely high risk and unpredictable situation.

There exists multiple directions of activity, the most productive depend on the co-operation of the owner.

Here is what you should do.
Pick up the phone and speak with a REALTOR at the local Remax office.
After reviewing your situation and objectives, set up a meeting with the REALTOR and the current owner of the home. Based on the co-operation of the owner, the lender(s) involved, time available, and the end game of the owner, a strategy can be put in place. This strategy, with the co-operation and participation of the owner may extend your stay significantly.

This is way to complex to attempt directing you via the internet.
Doing nothing is the worst possible decision of the owner.
Do as I've suggested and let the Remax professional communicate the options and urgency.

If you choose to take no action, and simply choose to spend time, you will come home one day and find the locks changed.

We quickly overcome the bad decisions we make but live to regret the decision we let other make for us. Your friend is heading down a path of great peril.
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0 votes 5 answers Share Flag
Wed Jul 9, 2014
Annette Lawrence answered:
Are you asking if any company uses direct mail?
Are you asking if any marketing service companies provide direct mail services?

Now, a real estate professional should carefully consider the ramifications of sustaining a proper level of communication with a buyer or seller who does not have a computer, mobile device or easy access to the internet.

Be careful, you just might get what you ask for.

Regarding your question, they all do.

Now, if the don't have a telephone either, that would be really exciting
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0 votes 2 answers Share Flag
Wed Jul 9, 2014
Jason Campbell answered:
Greg, I have a ton of investors, and at times, i'm an investor myself..

Feel free to shoot me the list.

jcampbell0674@yahoo.com


Thank you

Jason C Campbell
Platinum Top 50 Realtor - 2014
Option One Real Estate
210-389-5266
web: www.SAHomeExpert.com
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1 vote 13 answers Share Flag
Fri Jan 10, 2014
Chris Hutchinson answered:
This is not legal advice but based on my experience if you are currently living in the hose and have not abandon the house then they will need to foreclose on the property before doing something like changing the locks.

If you have abandon the property they have the right to secure the property to protect their investment which can include changing the locks.

You may want to speak to a real estate attorney to make sure if your rights in this situation.

Chris Hutchinson, REALTOR
The Michael Group
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0 votes 1 answer Share Flag
Sat Nov 16, 2013
Aaron Sims answered:
What you are describing is not uncommon at all. As ststed below there could be many factors. You mentioned pre-approval. Do not mistake pre qualification and pre approval. Some lenders will take a buyer's stated income and credit score and pre qualify them. Then when they get actual w2s and check stubs things are different. Maybe they stated overtime that can't be counted, maybe they haven't had steady employment, could be any number of things causing the financing or deal to fall through. ... more
0 votes 4 answers Share Flag
Sun Aug 18, 2013
Douglas Ratliff answered:
Prices started dropping in 2008 and just in the last 2 years have they begun to climb back up a bit.
0 votes 15 answers Share Flag
Fri Aug 16, 2013
Fred Herman answered:
"My intention was to stay here with him rent-free until I finish grad school."

I guess you are majoring in social services.

Your friend? anyone who interferes with your plans to live rent free is no friend.

good luck
... more
0 votes 1 answer Share Flag
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