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Foreclosure in Chandler : Real Estate Advice

  • All387
  • Local Info18
  • Home Buying140
  • Home Selling14
  • Market Conditions14

Activity 27
Sat Aug 26, 2017
Karen Peyton answered:
You should consult an attorney in this matter. How long depends on the means of pursuit - and trust me - your former HOA intends to be paid. It may be wise to negotiate the debt and satisfy the debt, instead of carrying it around like luggage.
Again, look to an attorney for advice.
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Tue Jul 18, 2017
Bigbonesbluew answered:
Are auction taking place everyday at courthouses?
0 votes 10 answers Share Flag
Mon Mar 3, 2014
LaLena Christopherson answered:
Have you paid it off and are you looking for a lien release? If you provide a bit more information we may be able to help.
0 votes 4 answers Share Flag
Fri Feb 14, 2014
Addie Huckabee answered:
Hi AnnMarie,

That home is currently under contract but there are other great homes in same area. If you are interested please feel free to contact me via email or phone 480-459-9201. Thanks! ... more
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Mon Feb 25, 2013
Ron Thomas answered:
I have seen where the EQUITY lender pulled their LIEN before foreclosure,
then they went after the Homeowner for the full amount.
YES, they can do that.
If the LIEN was still part of the Foreclosure, then it should have been satisfied before the Closing.
You will find out when they contact you.
Maybe you should contact a Florida Attorney; it might be worth a few hundred dollars.
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Tue Jan 17, 2012
Tim Watson answered:
If the property is only worth 78k and you have already lost 2 rentals I would suggest you (and I assume your state would allow this) file for bankruptcy and in Georgia and other states you can have property appraised and if it only appraises for 78k or less they would drop the 2nd but you would be responsible for making the note for the next 5 years. I'm not telling you to file for bankruptcy but it's another choice you have in case other things don't work out. Remember your credit is already shot. ... more
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Tue Jan 17, 2012
Terry Parrish answered:
Yes, Please contact a real estate attorney, the laws do differ from State to State. My understanding is that if the lien is not used to purchase the property, the Bank can come after you. I had a phone call recently from a friend of a client of ours - a judgement had been placed against them because they walked away from a home in AZ, with a second lien attached that was not used to purchase the home, the second lien holder went after them and through the court system, placed a judgement against them. I gave them the name of an attorney, the Attorney they contacted negotiated with the lien holder to accept less. It was not only a lien against the home that was foreclosed on, but a debt that followed them. It would absolutely benefit you to contact an attorney who specializes in distress property to gather facts and know your legal rights and options. ... more
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Wed Nov 30, 2011
Ron Thomas answered:
According to the Tenant's Rights Act of 2009, if you have a lease, the new owners are required to honor that Lease.
If you are a Renter, you must be given a reasonable time to move, I believe it is 90 days, but you can Google it and see the details.
You certainly may negotiate with the new owners, they may be happy to have you. Talk to the Agent who knocks on your door.
At the worst, you will be offered some moving money and 30 days.

Good luck and may God bless
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Wed Sep 21, 2011
Jeffrey Masich answered:
Dear Always:

Not sure what your goal is to answer your question fully. Are you concerned about your bank or your renter? If you will be a few days late, call the bank and let them know as soon as possible.

By the way the Arizona Department of Housing has Federal Stimulus Funds to use to keep people in their homes and avoid forelcosure. To learn more:

For more information on a short sale of your home in Arizona and a copy of the State of Arizona Short Sale Advisory, which reviews short sales, loan modifications and other options:

If you have other questions feel free to ask.

Jeff Masich
HomeSmart Realty
Arizona Homes and Land
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Fri Aug 12, 2011
Kruzen40 answered:
We just went through a B of A forecloser.I'm hoping to retire this year and use the retirement money to pay cash on a 40,50k home.Can B of A take this home from us?
0 votes 10 answers Share Flag
Tue Aug 9, 2011
Ann Griffin answered:
Hi Mary,

I suspect this home was a short sale; this is a common scenario where the banks and the buyer can't agree, and it is one of the reasons short sales often do not work, but check that out. If it has already been foreclosed, that supports my theory.
Another thing to check is how many different agents were involved in listing the home. This can be an alert to a difficult seller. HOWEVER if the seller is now the bank, those problems should have gone away.

In Arizona, the owner is not required to disclose if someone died there.

Best of luck.
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Mon Jun 6, 2011
Robert G Hertzog Jr answered:
Well, it sounds like you're getting close to closing this deal, which is a good thing! I go back to my previous comment... If you are purchasing a home and need a lender, use a MORTGAGE BANKER, not a mortgage broker or lender. Mortgage banks have everything "in-house", and can generally do the best job for you in terms of funding your loan on time. ... more
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Thu Dec 16, 2010
Rick Leforce answered:
Hi Doug, I'll answer your question with a question. "How would you like to own a condo for less that what it would normally cost to build one, or for less than replacement cost!?"

I think that it is good to compare a condo to single family home and I would consider some other areas as well depending on your price range and what kind of activities you like do (golf, hiking, mountain biking, horseback riding, tennis, etc.) If you know Chandler well enough, then you should know that it is now a fairly centralized located neighborhood with freeways all around it which is great for quick and convenient travel and making it easy for property managers to get to when managing the property.
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Thu Nov 4, 2010
Scott Clayton answered:
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Thu Oct 21, 2010
Dallas Texas answered:
Great question:

Value of home can be comp via a Realtor OR have an appraiser provide you data. Much goes into the comp's examples sq. ft., pool, room count, year built, neighborhood, location on street, updates, compared to homes sold in past 6 months similiar to yours.

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
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Tue Oct 5, 2010
Dan McNulty answered:
Give me a call and we can find the information for you. If you are looking to purchase the home we can work on that together at no coast to you.

Dan McNulty
Arizona Elite Properties
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0 votes 7 answers Share Flag
Thu Sep 30, 2010
Sara Pichelmann answered:
Hello 10sbum,

Before you can do a short sale you have to explore all your options. It would be best to sit down with a Realtor so they can help you. A short sale is the a last resort option before foreclosure.
If can no longer afford your home due to loss of income, you may very well be able to do a short sale.
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Mon Apr 5, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
It is investor specific. Some investors like HUD will bid total debt others will order broker opinion of values to determine the bid they will be up to. If the bank is trying to create interest in the bidding process they typically use to bid between 70-80% of value. It will also depend if there is mortgage insurance too. The private mortgage insurer has the right to purchase the property after foreclosure sale to mitigate their mortgage insurance claim.

So no answer that works for every case.

Keith Manson
First Weber Group
Certified Distressed Property Expert
Metro Milwaukee
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0 votes 5 answers Share Flag
Mon Feb 22, 2010
Dan McNulty answered:
Daniel J. Mcnul...
Gilbert, AZ
Have you made contact with a lawyer or accountant on this matter yet? I've got contacts who will not charge you to talk about this matter.If you do a short sale you will be getting a 1099 from the bank at the end of the year which may or may not be taxed as income. The deficiency might be forgiven, or they might ask for a non-secured promisory note.

If you allow the bank to foreclose and you are not protected by the statute they might come after you for the deficiency.

I've helped others in situations like this prior, no situation is the same however but we may be able to help.

We are a property management company and manage hundreds of homes in the East Valley and may be able to help you if you contact us quickly.

Dan McNulty
Arizona Elite Properties
Elite Landlord
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0 votes 9 answers Share Flag
Sat Feb 13, 2010
Mike Linkenauger answered:
We have prepared a very good question and answer section on our main site that will answer all of these questions for you. The best place to also start is to find a Phoenix and Chandler AZ short sale Realtor: ... more
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