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Foreclosure in Madison County : Real Estate Advice

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  • Home Buying1
  • Home Selling0
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Activity 18
Sat Aug 12, 2017
Athira Sathish asked:
Mon May 8, 2017
Shirley.pride asked:
Sun May 1, 2016
Cheryl Geske asked:
Tue Dec 22, 2015
Halcomb_d asked:
Thu Aug 20, 2015
Stormylena answered:
Bargain with the mortgage lender to pay the closing costs. Mortgage companies are eager to sell their foreclosures and begin recouping their losses. Lenders are more open to negotiations if a property attracts little interest. Talk to the lender handling the foreclosure, and ask them to pay the closing costs to eliminate your out of pocket expense.
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1 vote 10 answers Share Flag
Tue Aug 26, 2014
sophisticated233 asked:
Thu Mar 13, 2014
corbettrodney0 answered:
Innovations, is the name of my Co. We are looking for work in the foreclosure business. We can clean & repair any thing that needs to be done in order to be sold at Auctions or REO's.
My name is Rodney Corbett, Birmingham, Al. 677 Earline Circle, Ste A., email: ... more
0 votes 8 answers Share Flag
Sun Sep 16, 2012
Tricia Orlock answered:
There r many opportunities out there regarding foreclosures. You have to know the area and the values of homes around the foreclosure. Once you assess the value of an area, then you need to assess the cost of repairs needed in the property. The ARV (after repair value) will tell you If there is any profit to be made on the property. If you intend to live in the home, this is also very important. You do not want to over improve on a property where surrounding values are lower. This will help you hedge value for the future, especially if you plan on selling in the near future. Ideally, you want to purchase, fix up the home and be at a competitive value when your done.
There are many factors that have to be examined to determine if a foreclosure is a good buy. Best to get Professional help from a experienced Realtor who has the tools to help you in this process.
Call me for more information @ 256-655-3896
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Fri May 4, 2012
Sue Von Hor answered:
It depends on the financial institution involved. There is no defined time period. I have had homes for as long as a year. Sue Von Hor C.D.P.E 301 904 0309
0 votes 3 answers Share Flag
Tue Jan 17, 2012
Linn McAuliffe answered:
Hi Jack,

I was able to attend the Huntsville Area Association of Realtors Economic Summit that was held just a few months ago and I found it very encouraging. The Chief Economist for the National Association of Realtors was the keynote speaker. In his speech, he pointed out that our economy is relatively stable and in a good position compared to many areas in the US. That said, we have seen some reduction in prices on some homes in our area. We do have a lot of new construction in North Alabama and that has also increased competition between existing and new homes. Unfortunately, there are short sales and foreclosures as well, which may also affect the value of the surrounding homes.

My personal opinion is that as long as people are still relocating into this area, we are in good shape. The Chief Economist also relayed that when consumer confidence is down, home sales are down and a pent up demand is created as consumers stay in rentals until their confidence returns.

If you need some more information about the history of home values in a particular neighborhood, let me know!

Good luck and let's be confident!

Linn McAuliffe
Keller Williams Madison
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0 votes 1 answer Share Flag
Tue Jan 4, 2011
Cassandra Black, Consultant answered:
Hi Ashley,

Sign your company up with the larger property preservation companies, whether or not their main office is in Huntsville. These larger entities handle homes all over the country, regardless of where they're based. Peek at the foreclosure cleaning industry blog for tons of FREE advice on starting and growing your new business, including getting contracts from your local housing authorities and county commissioners.

Good luck in Huntsville, AL!

Cassandra Black, Consultant & CEO, Foreclosure Cleanup, LLC
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0 votes 2 answers Share Flag
Tue Jan 19, 2010
Jim Robinson answered:
Hello Bill,

At the risk of being forward, knowledge is valuable, so what about discusions regarding transaction funding and doing some deals. I have a team and a system. What with FHA guidelines being adjusted regarding the 90 day rule for a year, the time to invest should be now. I would consider caution as well as I believe all of the market drop in all areas of the country is in a lull now and some major flux is yet to come. However, in my market, it is a bit of a different animal in overall economic impact; better, I believe. Anyway, if you are open to discussions, please contact me. ... more
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Thu Jan 14, 2010
Bob Movin-On answered:
Unfortunately the fact that this is a rental home leaves you liable for the deficiency (damages for the difference of the principal amount, sale price and costs).
0 votes 4 answers Share Flag
Sun Dec 27, 2009
Don Tepper answered:
That's usually pretty easy.

First, go online and look up the tax record. For instance, if I wanted to find the owner of a house in Huntsville, Alabama, I'd search for ";Huntsville AL tax assessor." That'd bring me to From there, I'd click on "Property Assessment Online." (Most counties and cities have online tax records.) From there, you can search a particular address.

If that doesn't work, knock on neighbors' doors. It's very likely that some of the neighbors will know who the owner is and where he/she/they currently live. I've done that a lot, and almost always succeeded.

If the property has been foreclosed upon and the online search information hasn't been updated, then contact the local tax assessor's office. As soon as the new deed is filed, it's public information. Or just go down to the courthouse and ask one of the clerks there for assistance.

Hope that helps.
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0 votes 1 answer Share Flag
Wed Mar 12, 2008
John & Linda Cramer answered:
Well that's a good question, now we are not attorneys, however, just some info, depending on your bankruptcy chapter 7 or 13 will determine a lot, I do recomend you seek legal advise and if you cannot afford a attorney there is Legal Aid out there. When you say you are in Bankruptcy have you just retained a attorney? or are you well into the process? The reason I ask is that until it is recorded, you still have a chance. Good Luck ... more
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Sat Mar 1, 2008
Portland_Real_Estate answered:
I have the best one for you.
0 votes 4 answers Share Flag
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