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Foreclosure in Philadelphia : Real Estate Advice

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Activity 125
Wed Jun 12, 2013
Ryan Garrity answered:
Wells Fargo will have local representation present at the sale in the form of the attorney's office who is handling the foreclosure process. The attorney will bid on behalf of the bank up to the payoff amount, which includes the loan balance, any outstanding interest, property inspections/preservations, escrow deficits, etc. In most cases that payoff amount is greater than the market value of the home. If it wasn't, then it probably wouldn't be in foreclosure. If there was equity in the property, then the previous owner would probably have sold the property and pocketed the equity, rather than stop paying their mortgage and damage their credit (however, there is always the rare occurrence and some properties do get sold to third party investors at sheriff sale).

If you don't get the property at sheriff sale, and the property is not purchased by a third party investor, then the property will go back to the bank. Once the sheriff's deed is recorded and the bank takes possession, they will most likely list it for sale with a real estate agent. So, even if you don't get it at sheriff sale, it may be worthwhile to keep your eye on it as it may be listed for sale not too long after. Hope this helps. Feel free to reach out with any additional questions.

Best,

Ryan C. Garrity
U S Spaces, Inc.
2206 Walnut St.
Philadelphia, PA 19103
215-829-8850 x208
215-514-9424 (cell)
ryan@usspaces.com
... more
0 votes 6 answers Share Flag
Tue May 14, 2013
Keith J. Lawson answered:
Hi Wenhong,

Give me a call at 267-688-1110. I will send you some comparable properties for sale.

Warm Regards,

Keith

Keith J. Lawson
REALTOR®
RE/MAX Affiliates N.E.
9237 Frankford Ave.
Phila, PA 19114
267-688-1110 (cell)
215-992-5534 (office)
www.keithlawsonhomes.com (web)
LawsonRE@gmail.com (email)
Member- N.A.R.,P.A.R.,G.P.A.R
Member - AREAA Philadelphia Metro
Follow me on Facebook at http://facebook.com/keith.j.lawson
Follow me on Facebook https://www.facebook.com/PAHomeSales
Follow me on Twitter http://twitter.com/#!/KEITHJLAWSON
Follow me on Trulia http://www.trulia.com/profile/keithjlawson/
"RE/MAX Executive Club Award Winner"
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0 votes 2 answers Share Flag
Tue Apr 30, 2013
Josh Barnett answered:
Ask your Realtor, if you are not working with a Realtor, click on the "Find a Pro" tab at the top of the page, type in the zip code you are looking for a home in and interview the agents on the first page. ... more
0 votes 4 answers Share Flag
Mon Apr 29, 2013
Kevin Van Horn answered:
Be Careful. I am not blaming realtrac per say. Many similar sites claim the properties exist only to have you pay membership fees. Then you find out they don't exist or sold 2 years ago. My office specializes in REO properties. 20 years, thousands of sales, high volume investment real estate. Currently 100 listings.

Call me or email

Kevin Van Horn
Premier Real Estate, Inc.
1636 Pine Street
Philadelphia, PA 19103
267-968-4919 (Cell Phone)
215-732-5355
... more
0 votes 4 answers Share Flag
Wed Feb 6, 2013
Sheri Curci answered:
And this home too Yuee, and more can be searched on our referenced site below

All the Best, John Curci RE/MAX 215-757-2889
0 votes 4 answers Share Flag
Wed Feb 6, 2013
Sheri Curci answered:
Good Evening Yuee,

Feel free to search for similar homes on the referenced site below...

Just fill in your search criteria under Bank owned and start searching....

All the Best John Curci RE/MAX 215-757-2889 ... more
0 votes 2 answers Share Flag
Fri Jan 4, 2013
Michael N. answered:
Samuel

I think you will get more responses to your question if you provide more details.

What specific areas/neighborhood /zip code in Philadelphia do you want to buy?
Are you an investor looking to buy multiple properties? Or are you only looking to buy one?

Most of these properties will be shells, fire burn outs, and needs total a rehab.
... more
0 votes 4 answers Share Flag
Thu Oct 25, 2012
Michael Solomon answered:
Do u mean the ducktown area of atlantic city?Call me to discuss options in phila.

Michael Solomon
Realty Mark Associates
2153764444 office
2154212121 cell
0 votes 3 answers Share Flag
Tue Oct 16, 2012
answered:
Only if it is an FHA or VA loan and the lender that is currently servicing the loan allows you to assume it would you be safe “taking over the payments.” Most mortgages contain a due on sale clause that calls the loan due if you do not take the proper steps while doing anything that has an impact on the title to the property. Most conventional loans do not allow assumptions.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
... more
0 votes 8 answers Share Flag
Thu Oct 4, 2012
Sheri Curci answered:
OK Demitchell,
You need Patience, Good taste, Lots of time to look for a home in your price range and location.

And experienced Realtors that will cover your assets…….. All the way through the home purchase process with understanding explanations for you as a first time Buyer.

Can we confidentially talk?

All the Best, John + Sheri RE/MAX 215-757-2889
... more
0 votes 16 answers Share Flag
Sat Sep 29, 2012
Christina Lopaz answered:
Wed Sep 12, 2012
Sheri Curci answered:
Hello Frank, 1st of all...... Im sorry to hear that you may be going through this process.Your Not the Only one.

Not Sure on Az Law But you MUST be informed of ACT 91 disclosure from your bank.

You can contact an aggressive local agent in AZ and persue with a short Sale back to the Bank.

This will help repair your credit Much Faster....... approx 12 to 18 months vs a Forclosure that will mess up your Credit for 10 Years.

If you just starting a Family and you got caught up in ths Mtg Fiasco.... you may want to repair your credit faster with a short Sale... besides.... what do you have to loose?

All the Best John Curci RE/MAX Properties Philly Bucks County Pa
... more
0 votes 7 answers Share Flag
Wed Aug 29, 2012
Larry Lichtman answered:
Hi J,

I regularly attend Philadelphia Sheriff's Sales and consult many investors on the bidding process.

Please feel free to call me to discuss your situation and what you want to accomplish.

All the best,
Larry Lichtman, CNE
REALTOR, Property Manager
Your Real Estate Resource For Life
Cell/Text: (267) 254-7994
LarrySellsRealEstate@gmail.com

DJCRE, Inc.
Real Estate Sales & Leasing
Property Management & Insurance
1611 Snyder Avenue
Philadelphia, PA 19145
Office: (215) 271-7070
... more
3 votes 2 answers Share Flag
Tue Apr 17, 2012
Sheri Curci answered:
Also get it in Writing with Names and Dates.

John Curci RE/MAX Properties 215-757-2889
0 votes 2 answers Share Flag
Tue Apr 17, 2012
Alain Picard answered:
You generally would pay the entity that recorded the lien.
0 votes 1 answer Share Flag
Thu Feb 16, 2012
Sheri Curci answered:
Kathie.... You should be having a confidential discussion.

Debt To Income = DTI is also an issue.

For a confidential talk...
Feel Free to give us a call

All the Best, John Curci RE/MAX 215-757-2889 ... more
0 votes 4 answers Share Flag
Wed Jan 25, 2012
Larry Lichtman answered:
Hi Linda & Hakim,

I can help you search for a good home and negotiate a great deal for you. Please call me so we can make arrangements to meet and discuss your goals.

There are many beautiful homes available in Wynnefield and the immediate area. We may be able to find you a short sale opportunity as well. You don't necessarily want to wait to find a foreclosed property when there are opportunities to negotiate with the bank before foreclosure.

Please feel free to call me anytime. Looking forward to speaking with you both soon.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real estate Resource For Life
Cell/Text: (267) 254-7994
... more
2 votes 13 answers Share Flag
Thu Dec 22, 2011
Rememberwhen76 answered:
I just got off the phone with a agent and I have an appointment with a counselor early next month. Thank you all for your help it is greatly appreciated.
0 votes 10 answers Share Flag
Mon Oct 24, 2011
Jim O'Rourke answered:
Shawn,

Contact me directly with the specifics and I may be able to get you information as to why you encountered this situation.

Jim O'Rourke
Liberty Bell Agency, Inc.
215.625.3660 ... more
0 votes 3 answers Share Flag
Sun Oct 2, 2011
Bruce Lang answered:
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