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Foreclosure in Monmouth County : Real Estate Advice

  • All55
  • Local Info1
  • Home Buying34
  • Home Selling5
  • Market Conditions1

Activity 63
June Buerkle, Home Buyer in Chattanooga, TN
Sat Jul 9, 2016
June Buerkle answered:
You need a lawyer. You have to resolve the ownership issue before your son can buy anything.
1 vote 1 answer Share Flag
June Buerkle, Home Buyer in Chattanooga, TN
Tue Jun 21, 2016
June Buerkle answered:
Until they kick you out.

The new bank owner should advise how much rent you owe or a date you have to vacate the property.
0 votes 2 answers Share Flag
thinz, Real Estate Pro in Allenhurst, NJ
Fri Apr 22, 2016
thinz answered:
You will get more information if you contact a local realtor on this property.
Tom Hinz
0 votes 1 answer Share Flag
Julie Anne P…, Home Buyer in Middletown, NJ
Wed Mar 30, 2016
Julie Anne Poling asked:
Cioffi426, Home Buyer in Holmdel, NJ
Mon Sep 28, 2015
Cioffi426 asked:
Need a real person not web site to talk with. Can you help
Steven Cioffi
0 votes 0 Answers Share Flag
Polishsquare…, Home Buyer in Belmar, NJ
Thu Aug 13, 2015
Polishsquared27 asked:
thinz, Real Estate Pro in Allenhurst, NJ
Sat Aug 8, 2015
thinz answered:
Do you mean time of day or arrival after a court judgment in landlord tenant court?
If you mean the judgment in court, 2 weeks following is usually when they arrive.
If you mean time of day, probably after their dunkin doughnuts run...seriously, I would be prepared for anytime getting close to that 2 week timeframe.... ... more
0 votes 1 answer Share Flag
Michael  Skea, Real Estate Pro in Spring Lake, NJ
Wed Jul 29, 2015
Michael Skea answered:
I am also an attorney, Gail. Please give me a call and I will be able to refer you to an attorney who may be able to assist you. 732-272-5898.
0 votes 1 answer Share Flag
thinz, Real Estate Pro in Allenhurst, NJ
Tue Jul 21, 2015
thinz answered:
If you can't rent for more than your mortgage payment, a short sale would be my first suggestion. THis is NOT a strategic default! In a short sale you will try to work out sale terms for less than your mortgage balance. Easier on your credit than a Deed in Lieu....Next, a deed in lieu if the lender won't approve a short sale. This is a friendly foreclosure where the lender agrees to take the deed back. It will impact your credit score more than a short sale, but you may be able to get incentive money from the lender in the process if you stay and keep the home in good condition. A strategic default is nothing more than walking away and doing nothing. I would never recommend that.
If you are concerned about time, and don't think you can list and sell before you leave sometime next year, I would approach the lender with the deed in lieu would be the quickest solution...but again, not my preferred. Tom Hinz www.shortsaletosellcom
... more
0 votes 4 answers Share Flag
Albiecardew, Home Buyer in New York, NY
Mon Jul 20, 2015
Albiecardew answered:
If the home next door is in foreclosure, the bank who owns the property would most likely be the source to contact about tree removal. If you contact your city, they should be able to advice you on the process and requirements for removing the tree. Since it's on the other property but still affecting yours, you must contact the owners or bank before doing anything about it. However, the bank should be reasonable with such a request, so I would suggest contacting them. ... more
0 votes 3 answers Share Flag
Francesca Pa…, Real Estate Pro in Manasquan, NJ
Wed Jul 1, 2015
Francesca Patrizio answered:
I agree with Deb, Keith Arcomano, 732.229.5515. He has a great rep among agents and former clients.

Francesca Patrizio, ePro, SRES
732.606.2931 ... more
0 votes 5 answers Share Flag
thinz, Real Estate Pro in Allenhurst, NJ
Wed Jun 17, 2015
thinz answered:
It sounds like you want a foreclosure and not a short sale since a short sale is a pre-foreclosure status still owned by the seller.
I would contact either an MLS agent or lookup the mortgage online for the block/lot in Holmdel.
Once you know who the lender is doing that search, you can try to contact the asset manager directly IF the home is not currently listed by the lender. Government lender loans as well as commercial lenders provide REO websites (for free) that they will also list foreclosures on. For example, Fannie Mae has the site for the entire country. If you other questions just let me know.
Tom Hinz
... more
0 votes 3 answers Share Flag
Kathleen Gal…, Real Estate Pro in Rumson, NJ
Thu Jun 11, 2015
Kathleen Galano answered:
You may look at the county web site for Sheriff sales coming up...however I have an awesome Sort Sale at 28 McLaren Street right now! Take a look.
0 votes 1 answer Share Flag
thinz, Real Estate Pro in Allenhurst, NJ
Thu May 7, 2015
thinz answered:
There are plenty of resources - some government, many commercial lenders. The gov't lists are becoming more competitive but are still worth pursuing.
Try this for a list of Citibank REOs (foreclosures) that they are looking to sell off...

If you want other lists, try this which has gov't and non-gov't foreclosures...

I personally disagree with many who say that going after a foreclosure is a bad choice. My rule is this, if you can find something that has built in equity of at least 20% at purchase, and is already rented out generating cash flow, you're ahead of the game! Takes work to find, but they are out there.

If you need more information, let me know. Good luck in your search.
Tom Hinz
... more
0 votes 7 answers Share Flag
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