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Foreclosure in New Haven : Real Estate Advice

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  • Local Info8
  • Home Buying50
  • Home Selling4
  • Market Conditions2

Activity 7
Sun Oct 9, 2016
josh campbell answered:
yes you should as if you have rented the apartment you dont know weather or not they are paying the mortgage payments .

you may get in to trouble to maybe bank will come up and foreclose the property and you have to leave the home at earliest too.

only if the date is not too old on it.
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Mon Jun 30, 2014
Scott Godzyk answered:
Banks and creditors sell their "paper" aka accounts payable all the time. The key is if the debt is valid, if the collections are within the time frame as outlined by federal and your states collection law. If they get a judgement, than you are at a whole different level of debt and now have courts involved. You should not ignore and consult a lawyer for anything you do not understand to know your rights and or obligations. ... more
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Fri Sep 14, 2012
Phil Zimbardi answered:
Yes you should. Technically the landlord should be using it to pay the mortgage, but that does not always happen.
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Tue Feb 14, 2012
Mina Patel answered:
First of all, if a seller defaults on his or her loan and misses 3 payments, the lender usually starts foreclosure procedures. It seems as though the sellers in this case were in default and you may not have been aware of it, so one of the things the seller can do is try to stop the litigation. In this case you should consult a real estate attorney to advise you and guide you in the right direction.
I recently closed on a property that was in a very similar situation. Depends on how far the litigation process is, the attorney should be able to help you.
Good luck and best wishes.
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Thu Feb 9, 2012
Maggie Griffin answered:
To be honest - when a home is currently in litigation prodeedings for a strict foreclosure, that means you may have a difficult time to entertain with your bank to sell your home under a phrase called "short sale". What a short sale is - defined as simple as can be, when a home owner wants to avoid strict foreclosure and make an agreement with their bank to sell their home under a short sale based upon specific reasons, such as job loss, divorce, illness, un-employment and even death.

Many who specialize in short sales understand that giving you this advice once the home is already under a litigation for strict foreclosure, the best option is at this point to speak to an attorney to get the advice you need. It is a process, whereas, if you want to avoid a strict foreclosure situation, you may have to work out what is called a mortgage mediation - of which you will need an attorney for. Outside of that, if you are in fact in foreclosure litigation - it may be too late to entertain what is called a short sale. Seek your answer from a real estate attorney.
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Fri Jul 8, 2011
Eric Radziunas answered:
The listing is still active. It is actually listed with my office Weichert Regional Properties.
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Mon Nov 9, 2009
Don Fabrizio-Garcia answered:
Foreclosure homes are not being sold for $1.
The $1. is the price posted that the bank takes over the home for when the court approves the foreclosure.
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