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Foreclosure in El Paso : Real Estate Advice

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  • Local Info34
  • Home Buying115
  • Home Selling11
  • Market Conditions8

Activity 20
Fri Aug 14, 2015
victor.velasquez asked:
Mon Mar 2, 2015
Cat Hernandez answered:
Hi Randall,

I am going to call you, as well. Curious if you got your questions answered regarding the property on Thunderbird?
0 votes 1 answer Share Flag
Thu Feb 27, 2014
RonS answered:
You don't "Give" a property to the bank. The borrower surrenders the property but that only means they aren't going to pay on it any longer. The trustee can abandon the property so that the bank can foreclose if they choose to do so.

I'm confident that unless there is a foreclosure on record, some entity owns it and will eventually come out of the woodwork. The lien will survive any chapter 7 regardless of whether it was surrendered or not. The liability for the debt is gone in the BK but again, the bank (Or other legal owner) will have to foreclosure to exercize their rights.

If the HOA foreclosed, they did so subject to the right of the senior lien holders, and junior lienholders for that matter. Their rights were not wiped out in the foreclosure by an HOA.
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Mon Jan 6, 2014
Yram E Zerep answered:
very nice is still aveilable
0 votes 2 answers Share Flag
Thu Dec 26, 2013
Jese Gonzalez answered:
Good morning, Derek.

Hope you and your family had a wonderful Christmas.

You asked about a property but it didn't indicate what property is was you were referring to. I'll be happy to check to see if that particular property is available. I can also send you listings to other Foreclosures in the area.

Please let me know if there's anything I can do to help. You can also view ALL of the houses available in the El Paso area, including Short Sales and Foreclosures, by visiting my website below.

You can also call or text me at (915) 549-1962.
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0 votes 3 answers Share Flag
Wed Dec 25, 2013
John Reeves answered:
Yes, please give the specific address or link of that property so that you will be assisted.
0 votes 1 answer Share Flag
Wed Jul 4, 2012
Cynthia Morris answered:
Howdy Bridgette. Without talking to your brother I can say yes or not. But there are tremendous programs and they vary according to income, number of members in the household. These programs make home ownership a reality and give monies towards having more house than they every dreamed.

Cynthia Ann Morris,
CNE, CRS ,CSP,ePRO, GRI, TAHS,Texas Property Tax Arbitrator,Certified Real Estate Instructor
Sales, Property Management and Investing First Time Home Buyer Specialist
Short Sales and Foreclosure WE BUY HOMES
Broker-Owner Serving you and all of El Paso County.
Phone 915 471 4300 Fax 915 855 4609
email cynthia@EPHomeSearch.com Website www.EPHomeSearch.com
I want to be the only REALTOR ® you will ever need
Technology will NEVER replace real estate professionals, but real estate professionals with technology WILL
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0 votes 1 answer Share Flag
Wed Apr 18, 2012
Cynthia Morris answered:
Ouch no one likes rejection. Without knowing the specifics on property, banks asking price, and the offer you made I cannot be specific. These foreclosures are so great for buyers and investors . Generally knowing the different banks, what the bank had in it, location,condition and real value your agent can help you make the right kind of offer. When the bank outright rejects your offer, it was either too low or they have decided to take the property to auction, which is another story in itself. Please let me know if you have further questions. ... more
0 votes 3 answers Share Flag
Sat Dec 31, 2011
Cynthia Morris answered:
Howdy and Happy New Years Saul
There are a lot of different auctions, so please give me a specific address. You know with the new FHA guidelines does not require the 90 day hold so if you are an investor Auctions now are going to be a lot of fun. Give me a call to discuss anytime any again Happy New Years! ... more
0 votes 2 answers Share Flag
Mon Nov 14, 2011
Brian Rayl answered:
In the state of Texas, if you have a signed and executed contract and the earnest money has been received and receipted (doesn't matter if it was deposited, as long as you and/or your real estate agent have a signed receipt for it), then you are in the driver's seat. Yes, another contract can be accepted as a BACKUP contract, but yours will still be primary contract.

GENERALLY in Texas, if you have a signed and executed contract, YOU (the buyer) are the only one that can cancel the contract unless you default on some part of it. (I say generally because in the world of foreclosures, every bank has different addendums that you sign that may give the banks more power). The standard TREC real estate contract is very heavily weighted towards the buyer, which puts you in a good position.

Make sure you speak with your real estate agent, the title company on the contract, as well as a real estate attorney for more specific advice to your file or for legal advice.

Brian Rayl
Keller Williams Elite
972-949-4222
Brian@Rayl-estate.com
http://BrianRayl.com
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0 votes 8 answers Share Flag
Sat Jul 30, 2011
Linda Lorenzo answered:
Here is the link to the Fannie Mae Homepath financing - if you can find a home that qualifies you could get into it for 10% down as an investor: http://fanniehomepath.com/info_01/page_00.rad ... more
0 votes 6 answers Share Flag
Thu Dec 2, 2010
C S answered:
try looking up the hud pricing guidelines.

although not accurate it's a great starting point.
0 votes 2 answers Share Flag
Wed Apr 28, 2010
Reo Prep Vendor Management answered:
There are companies that will take photos for example we have an approved vendor in New York that does an amazing job.

http://www.reoprep.com/vendor_search_result.php?action=search&trade=0&city=&state=New+York&zipcode=&x=50&y=10



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Send me an email or give me a call (914) 426-8919
(Mon-Sat) 8am-6pm













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0 votes 5 answers Share Flag
Wed Apr 28, 2010
Don Tepper answered:
Yes.

It's true.

The question would be: Who would be your clients or customers?

Qualifications would include a good quality digital camera capable of taking high resolution photos. Plus, of course, the skills and knowledge necessary to take good photos. ... more
0 votes 1 answer Share Flag
Mon Apr 5, 2010
Don Tepper answered:
You'd register with your city/county and possibly with your state. I provided a link in my previous answer to your question. Here it is again. http://www.businesslicenses.com/Licenses/TX/El+Paso/El-Paso-4814124000/ ... more
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Sun Jul 19, 2009
Cynthia Morris answered:
Howdy
I am so sympathic to you. You CANNOT or perhaps should not be be out the earnest money and the bank acepted another offer. I will be happy to get your earnest money back for you, just give me a call. 915 471 4300 and lets go over the paperwork you have and set you on your way to a better home yet. Sometimes after these horrible situations a better home comes along and you certainly deserve this! God
Bless
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0 votes 2 answers Share Flag
Fri Jul 10, 2009
Jackie Rankin answered:
I have dealt with banks (in this case the seller of the foreclosed homes) that have addendums that state that they will negotiate more than one offer at a time, and even if you accept their counter offer it does not necessarily mean that you have an accepted contract on the home. The addendums state that they have not officially accepted your offer until the contracts are officially signed by BOTH sides and during the time you are waiting for those signatures they can accept another offer that they were also negotiating. So nothing is official until you receive those signatures. Read your addendums, it is the source of all information. Good luck!

Jackie
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0 votes 4 answers Share Flag
Mon Jun 8, 2009
Rick Snow answered:
Trulia pulls listing information from many different sources and there is no set requirement for property information. Trulia is a great resource, but you may find it more convenient to contact a real estet professional who can search for properties that match your specific wants and needs. Your agent's information should be current and timely.

Good Luck with your search.
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0 votes 1 answer Share Flag
Wed Apr 1, 2009
Margaret T. Hatcher answered:
Xochitl,
Rick had the answer you wanted but any property worth anything the bank will buy back its self. You really do not want to be a buyer on super Tues unless you know what you are doing. You will not get a clear title. The bank can clear the title you can not.
The first Tues is true of any county in Texas.
Margaret
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