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Foreclosure in Oak Park : Real Estate Advice

  • All155
  • Local Info16
  • Home Buying36
  • Home Selling5
  • Market Conditions8

Activity 10
Wed Apr 22, 2015
RonS answered:
Don't waste your money on an attorney. Sound like you lost the home in a foreclosure sale because you didn't pay your mortgage. Unless there is more to it, you are out of luck and hiring an attorney is throwing good money at bad money. ... more
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Tue Apr 1, 2014
Harriet Maj answered:
Good day, unfortunately there are no units currently available in the multiple listing service in building 203 washington. That doesnt mean something isnt for sale or rent by owner. Please feel free to call me at 708-870-1802 with any concerns. ... more
0 votes 2 answers Share Flag
Fri Feb 14, 2014
Jen Coyte answered:
Hi Yvette,

Your 1st step is to find a good Realtor to help explain the process. As with any transaction there are no two deals alike.
I have been selling Real Estate for 10 years and previous to that I worked in sales for American Express for 15 years. I

I am a certified Short Sale, Foreclosure Resource Agent as well as being an Accredited Buyers Agent. I am a full time Broker with Coldwell Banker Residential Brokerage.

If you are need of my help, please call, text or e-mail me and I'd be glad to help you start the process of buying a property.

Jen Coyte, ABR, SFR
Broker
630-408-5809
jen@jencoyte.net
Coldwell Banker Residential Brokerage
... more
0 votes 7 answers Share Flag
Thu Jan 3, 2013
Ron Thomas answered:
Why would a LENDER bet on you?
Either you don't have a good track-record of paying your bills,
or, you don't have sufficient income to pay your bills,
or, both!
And you will be sacrificing $40,000 for $20,000.
Investors will be salivating; waiting for your Condo to come on the Market.
... more
0 votes 1 answer Share Flag
Wed Jan 4, 2012
Kevin Kennedy answered:
Low,
Every offer that is presented to a list agents' office must be submitted. If the property has an accepted contract from the seller, that buyer has an agreement with the seller and the property is not available. .

As for back up offers, it is always in your best interest to send an offer to the list agent no matter what. If you rely on the list agent to call you if the deal falls apart, you may be waiting by the phone for a long time. Now if the list agent has a deal fall threw the first thing they try to do is get it back under contract, and the best way to do that is to go back through all your back-up and other offers that have been submitted to see if the buyer is still interested.
... more
0 votes 6 answers Share Flag
Sun Nov 20, 2011
Ron Thomas answered:
What you are concerned about, (or should be), is what is the Market Value of the Home:
Have your Realtor do a CMA to determine that.
A lot of Buyers ask us to find out what the Bank has in it;
This is a closly guarded secret and nonsense anyway; they probably have more than Market Value in the house or else it wouldn't be foreclosed.

Good luck and may God bless
... more
0 votes 3 answers Share Flag
Thu Aug 13, 2009
Dallas Texas answered:
I have never heard of this... where is your buyers agent assist with all these questions?

All sales go thru a title company who transfer money to lender.

National Featured Realtor and Consultant, Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
Lynn911
... more
0 votes 4 answers Share Flag
Sun May 24, 2009
Fran asked:
Thu Jun 19, 2008
answered:
Hi Lana. Well, Ginger answered your question first so i would give her a shot! Also, she mentioned if you were pre-approved. If you are not, give me a call. I am a Mortgage Broker. Also, if you are but do not like your loan. Give me a call. Good Luck! 630*330*2229 ... more
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Fri Sep 14, 2007
Mike Kelly Allison Norman answered:
"Comps" in this market can be extremely mis-leading. I believe a Realor or Agent specializing in a certain neighborhood are now worth their weight in closed escrows. This is because our "Comps" are now not just limited to "What" they consist of; square footage, features,lot size, schools, etc but "HOW" they became a "Comp". Let me explain: We have a whole different seller in today's market just like we had a whole new type of buyer over the past 5-7 years. Our buyers, some would argue up to 40% of the market, were NOT the average home buyer of years gone by. They were "speculation" buyers. Even if some where actually living in the houses they bought, many owned to take advantage of the spectacular surges of home prices of 10,15,25% a year appreciation. Zoom forward to today--now we have different "Sellers" who are creating "Comps" and "competition" which is irregular and I feel, somewhat UNFAIR to the regular home seller who wishes to move up, retire, or sell and downsize. The "Shor-Sale", Foreclosures, Investor's, New Home Builder and REO (Real Estate Owned) Sellers are "dumping" product, slashing prices, offering incredible incentives to buyers and Agents and generally skewing and skewering the general homeowner who does not have the resources of these folks. So the "area-expert" can tell a homeowner what the "lay of the land" is in the current market for their area. Is it infested with "junk" sellers like the ones above? Or is it more stable consisting of homeowers with a minimum of "junk" influences. If you go up against the big boys you are goign to loose. Also, if you're buying and buy into a "junk" neighborhood be forewarned!! Your area is most likely to face many more "junk" sellers in the next two to three years as all the 2/28's and 3/27's loans start resetting with foreclosure consequences some 90-125 days out!! In conclusion, it's not so much as "What" the comp is as "HOW" they got there!! It's a brave new world out there! ... more
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