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Foreclosure in McAllen : Real Estate Advice

  • All109
  • Local Info17
  • Home Buying35
  • Home Selling4
  • Market Conditions0

Activity 7
Jonathan Lah…, Real Estate Pro in Potomac, MD
Wed Apr 13, 2016
Jonathan Lahey of The Lahey Group answered:

Kindly include the link of the home you are interested in so we can help you .. thanks!
0 votes 1 answer Share Flag
Sandeep Kaur…, Home Buyer in Allen, TX
Thu Jul 2, 2015
Sandeep Kaur Dhillon asked:
what are foreclosure home??is there any foreclosure home in our area? Who we can buy foreclosure home
0 votes 0 Answers Share Flag
Jenny Avella…, Real Estate Pro in Mcallen, TX
Sun Jun 29, 2014
Jenny Avellaneda answered:
Hi, do you have the exact address on the property you are looking for?. Send me a quick email or call me at 956 250 7556 if you are still interested on this or any other property
0 votes 1 answer Share Flag
Tim Moore, Real Estate Pro in Kitty Hawk, NC
Wed Dec 5, 2012
Tim Moore answered:
The end of the foreclosure process is the auction. To complete the process it has to go to auction. Did it sell, was it delayed or postponed? If you are the owner I find it hard to understand how you don't know. ... more
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Don Groff, Real Estate Pro in Austin, TX
Thu Jul 15, 2010
Don Groff answered:
What you did was not bank fraud and it is done all the time. Unfortunately the purchase was not structured correctly. You should be the one making the payments to the lender and not the old owner. When you do a seller finance transaction correctly you actually close in a title company and you are the one who holds insurance on the property. While most loans are not assumable at the same time there is not a lender out there who will call a note due if they are getting paid every month as agreed. They could but they never do.

You should contact an attorney as was advised because what the person who sold the home to you is doing is fraud. Seller financing is a good way for people to get out of a bad situation. Good for the seller because they are avoiding foreclosure or a short sale and good for the buyer who cannot qualify for a loan at the current time.

Unfortunately if you do not structure everything correctly this can happen. On the reverse if you were not making the payment the same would be true. So now you need to consult a real estate attorney to see what you options now are.
... more
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Dallas Texas, Real Estate Pro in Dallas, TN
Mon Dec 1, 2008
Dallas Texas answered:
Difficult to state unless you reviewed the contract executed by all parties. Best to consult with an attorney more than likely court proceedings for eviction. However in the future till the note is paid in full best not to transfer the title.
... more
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