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Foreclosure in Clovis : Real Estate Advice

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  • Local Info21
  • Home Buying32
  • Home Selling0
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Activity 6
Sun Feb 12, 2012
Ron Thomas answered:
When you try to do a Shortsale, the Bank has to approve both your HARDSHIP and the Shortsale itself: 90% of the time, they are not inclined to it.
I'm not surprised that HUD ";couldn't understand", they never put an OVERSEE process in place. The banks do not even have to give HUD a reason, much less answer to you.

Go ahead an try the Shortsale, it will at least give you time.
I have never heard of staying ONLY 3 payments behind; seems kind of silly: The Bank may figure that if you can make payments #4, #5, #6..... you should be able to make 1,2 and 3. You are not pushing them toward the Hardship.

Good luck and may God bless
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Tue Jan 24, 2012
Minna Reid answered:
Frankly - this doesn't seem like any of your business.
You dont know your landlord is acting fraudulently. Not only the poor get approved for short sales. If he can negotiate a short sale with his lender - good for him. It's really no concern of yours. Your lease runs with the property, not the this doesnt affect you at all. I would say focus on your own life and not your landlords pocketbook. ... more
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Thu Jun 23, 2011
Jack Liebsch II answered:
There is no way of knowing unless you or an agent does some research on past sales in the area, evaluates current available inventory, and evaluates the property in question. Some homes are clearly overpriced, some are clearly underpriced, while many are priced somewhere in between. If the property is receiving multiple offers, offering more than the listing price is probably your only choice. If the property has been on the market for a long while, offering less is probably your best choice. Unfortunately, no one here can give you proper advice based on the little information which you have supplied. ... more
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Thu Jul 17, 2008
Harold Penner answered:
Have you tried There is a monthly access fee for use of the site ($50) but it contains excellent data on current foreclosures and pre-foreclosures. Many people use it for a few months as a resource while they are house hunting. Bear in mind, however, if you use a realtor they would be able to provide you with the same type of information without the cost of a monthly fee. However, if you were interested in looking for information prior to committing to an agent I would recommend that site. ... more
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Mon May 12, 2008
The Hagley Group answered:
Check out the link has bank owned the link and search by city/ state. Good luck!

Realtor all over the country can also advertise their short sale homes on this site at no charge. ... more
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Mon Apr 23, 2007
Jan Waegele answered:
With regard to FSBOs (For Sale By Owner), you will find a seller ready, willing, and able to sell, but sometimes with a jaded attitude. The reason they are selling By Owner is that they believe that the agent adds no value, that they can do the same job and 'save the commission'. Most agents do not like to work with FSBOs because of that attitude, and no amount of facts and figures can seem to illustrate to them that they will actually make more on the sale by using an agent! I personally have seen one seller lose $20,000 and another lose $35,000 because they were so happy to not pay the commission that they didn't realize they both accepted offers that were lower than their neighborhood dictated! The commission on the first would have been $14,400 - a difference of $5,600 that they could have pocketed if they had listed; the second: $17,940 commission, a difference of $17,060 if they had listed and sold at the price their neighbor's exact model did. Yep - the buyers were 'saving the commission' too! Foreclosures are another caveat - in order to take advantage of a foreclosed property, do your homework. A foreclosure is exempt from many things that an owner is not. Nothing is guaranteed, in fact it is expressly excluded. You need to be sure that you have the funds to fix or replace, and that your lender knows what you are doing and the loan is the right type if you need to rehabilitate. The most critical thing about purchasing either a FSBO or a Foreclosure is that there is no one but you to depend on. There is no one to stand behind any warranties or guarantees. You are on your own. There are disclosures in California that although they do apply to a FSBO, the seller cannot be forced to do anything. If you do find an agent who will handle a FSBO for you, you have found an agent who will work for twice the liability for half the pay - and there aren't many. Likewise with a Foreclosure, minimum disclosures are used, yet the 'seller' is exempt from the Transfer Disclosure Statement - the basic disclosure about the house! ... more
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