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Foreclosure in Hyattsville : Real Estate Advice

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Activity 6
Mon Aug 1, 2016
Tomasjones asked:
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This question was asked from this property: http://www.trulia.com/foreclosure/3001565054-3829-Hamilton-St-103-Hyattsville-MD-20781#nearby/commute
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Fri Jan 2, 2015
Darrell Preacherman West asked:
Tue Aug 5, 2014
Simon Campbell answered:
I have seen this happen so many times. Abandoning the property does not mean that you do not own the property any longer. Many times lenders are reluctant to foreclose on properties. There are a couple of options:

Option #1: Sell the house. As long as the title is in your name, then you have the right to sell. At a minimum, you need to sell if for the total of the unpaid HOA fees and taxes plus any of their penalties and any other unreleased liens that are recorded against the home. Anything more than that goes in your pocket. From there you can start to really and truly rebuild your credit.

Option #2: Move back into the house. You still own it. Don't pay anyone anything (i.e. HOA, taxes, loans). One of them will foreclose on you (probably HOA association). Once they gain title, they will have to legally evict you from the house. You could effectively drag your feet for months. Meanwhile, you have "free" rent. But, it will really trash your credit even more.

Option #3: Pay the HOA fees and taxes and regain ownership of the house. If you can somehow scrounge up the money, then you effectively gained your residence back - providing that their are no other liens attached to the property.

Hope that gives you a little direction or at least some choices.
... more
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Mon May 20, 2013
Miekeba Jones answered:
Hi Yhawkins there is not an average for HOA fees. It varies for each property and if you have more questions on the topic feel free to contact me.
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Thu Feb 16, 2012
Akil Walker answered:
There is also FHA+ that provide closing cost assistance. feel free to contact me if you still searching for a home.
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Sun Oct 23, 2011
Robert McArtor answered:
Keep the lines of communication open with the mortgage company. Find out who the title company was that closed on the property when you purchased it and advise them of the situation. Make sure all communications are in writing (email, letters, etc.) You may need to contact a Real Estate Attorney. ... more
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