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Foreclosure in Garden City : Real Estate Advice

  • All35
  • Local Info4
  • Home Buying11
  • Home Selling1
  • Market Conditions3

Activity 7
Sat May 12, 2012
Madhu Oberoi answered:
I found about 7 homes in Garden City that fit your criteria. Some of them are bank owned. Please call me or email me and I will send them to you. If you like any of them then. I can schedule a showing for you.
Madhu Oberoi
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Tue Jan 17, 2012
Joe Bertera answered:
Depending on Credit score and debt to income ratio you might be able to purchase since foreclosure was 5 years ago.

Please call, text, or email me to discuss and I can refer you an excellent mortgage rep who also does credit repair.

thanks. Joe Bertera. Remerica Hometown One. 248.521.6443
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Fri Aug 28, 2009
Maureen Francis & Dmitry Koublitsky answered:
Who do you want to borrow from? It might be hard to refinance with a bank now.

Banks have 7 years to pursue a deficiency. We have seen them selling off the uncollected debt to third parties who purse the deficiency vigorously.

A short sale might allow you to get them to agree not to pursue the deficiency.
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Thu Jun 25, 2009
Saundra Allman answered:
Hi Jih: Your property tax base is based on the accepted ratified offer price negotiated once you close escrow and record sale recorded from successful close of escrow. If your transaction successfully closed for the agreed buyer/seller purchase value of $345,000. That would be your property tax base. The property must appraise for the full value of the agreed accepted offer price. I believe even if a foreclosure and the lender owns the property, or it is a short sale and the lender is accepting offers, it is the same as if the owner is selling in a reagular transaction. If appraisal comes in lower, then, that may open opportunity to negotiate down the agreed value of the property sale amount. You may be back to the negotiating table. Once agreed and then you close escrow successfully and record the new sale in new buyers name, that is the amount of the new tax base different than the tax base that the seller's properties taxes were based on. Because his tax base is based on his long time ago purchase price way back when he/she purchased originally. Best of Luck on your new investment! Saundra ... more
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Sun Mar 2, 2008
Roberta Murphy answered:
Dom: If your home is in California, your property tax will be based on what you paid for the property. The rate here is one percent per annum plus special assessments.
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Wed Nov 7, 2007
Bob Mitchell answered:
I've gotten answers in as little as an hour and as long as a month with 2-3 days being the norm for me. I always worry about other offers coming in while mine is waiting to be accepted. Good luck. ... more
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