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Foreclosure in Providence : Real Estate Advice

  • All172
  • Local Info15
  • Home Buying54
  • Home Selling3
  • Market Conditions6

Activity 26
Fri Jul 7, 2017
Victor Penafiel asked:
Tue Aug 16, 2016
Jfbenfica0 asked:
Looking to find cleaning account for my business foreclosure homes office medical building other offices too.
0 votes 0 Answers Share Flag
Mon Nov 11, 2013
Sandra Brown answered:
If you can get back to me with the address I can check into it for you.
0 votes 3 answers Share Flag
Tue Sep 3, 2013
James Merida answered:
195 Academy Ave is a small lot of land being sold with 191 Academy. The list price for 195 is 12,800 and 191 is being listed for $145,500. That property is very nice. Well maintained as well as landscaped. And the description makes it seems just as elegant on the inside. If you're not working with anyone currently, give me a call and I can see to getting you in it today.

Thank you,
James Merida
... more
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Wed Aug 21, 2013
Josh Greenwald answered:
Hi there, email me What's your email? I did not hear from you yet so I can get you info on the house.
0 votes 2 answers Share Flag
Sat Jan 5, 2013
Josh Greenwald answered:
You can shop your mortgage around to some other lending institutions, and most likely with the help of a mortgage broker in the local area, you can get better deals now. Please feel free to write me at joshg [at] if you'd like more information. ... more
0 votes 1 answer Share Flag
Sun Jun 3, 2012
Kenneth Zink answered:
0 votes 3 answers Share Flag
Tue Nov 22, 2011
Phoenix Buyer answered:
I agree Dave, the scheme was awful. However, the banks are responsible for their underwriting practices, meaning they enabled this to occur in the first place. After the collapse they should have gone bankrupt, and they should not be offering any incentive or holding inventory they've foreclosed on on their books. All these homes should be unleashed on the open market, that would allow the market to completely bottom out and people like me would buy them hand over fist which would then put in a true bottom. Offering tax incentives, and all the ridiculous nonsense to lure people in to buying homes is simply making the housing correction act as a slow dripping faucet that will last years. But you still read over and over again how "now is a great time to buy". As an investment banker one simply needs to study the books of the banks and realize the bottom in housing is any thing but "in". Yet those whose livelihoods depends upon this market will be the first to tell you why it is.

Yet as long as the federal reserve keeps rates at 0% and continues handing money to the banks at their request through the discount window without any liability for the bank at all, the housing bleed and foreclosures will continue. A simple investment metric shows another wave of foreclosures looms in 2012. it will slow in Nov and Dec and then the open market of foreclosures will resume. It isn't rocket science to figure out that when over 6 million homeowners are vastly under water in their mortgages that the market is going to continue seeing declines. As long as Bernanke keeps printing, the banks will continue care-free, sadly.
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0 votes 14 answers Share Flag
Fri Sep 30, 2011
Joseph Del Sesto, GRI, SRS answered:
Yujia, great advice from the homw owner below! Since she lives in the neighborhood and knows the nuances of it, you should follow her advice. I had previously suggested similar tasks, but did not know of the parking pass they have for that area. Good luck and I hope it works out for you! ... more
0 votes 3 answers Share Flag
Mon Jun 13, 2011
Joe Pfeil answered:
Unfortunately, if a property has multiple offers on it, and many forclosures do, the bank has the listing broker go to a "higest and best" offer situation. This gives all of the people making an offer an opportunity to make a higer offer, the best offer that a buyer is willing to pay, thus, Highest and Best. If this is a good investment for you, and you are willing to offer more for the property, have your agent do a CMA to establish a "fair market value" for the property. The banks today are looking at this as a basis for selling their properties. ... more
0 votes 1 answer Share Flag
Wed Jun 8, 2011
The Stephen FitzMaurice Team answered:
Nothing is set in stone anywhere. But I'll tell you - in my experience it is always 3% off the asking price - nothing more.
1 vote 4 answers Share Flag
Wed Jun 8, 2011
William Friedman answered:
Right here. Call me at 401-353-8500
1 vote 5 answers Share Flag
Sun Dec 5, 2010
Keith Manson- Metro Milwaukee Wisconsin answered:
The investors behind a loans are needed to fund the mortgage instruments to fund the loans that people borrow when they buy a property. The investor is funded by others that invest in bonds that a securitized into these loans. Thus there is a contract outlining the rules of servicing the loans and what restrictions the investor place on the mortgage servicers to manage the loans.

Typical investors that are associated with these pool of loans are: FNMA, Freddie Mac, major banks,insurance companies, and differnt unions.

Keith Manson
First Weber Group
Certified Distressed Property

Metro Milwaukee
... more
0 votes 4 answers Share Flag
Thu Aug 19, 2010
Vickie Pizzarelli answered:
Hi Matt, The first question I have for you is there a professional netgotiator in place? I do not know why Realtors want to negotiate short sales themselves leave to the professionals that do it on a daily basis. If you need a few good names of Professionals in that field please email I woulkd be more than happy to point you in the right direction. Good Luck ... more
0 votes 2 answers Share Flag
Tue Feb 23, 2010
Susan Costa answered:

All condo and homes that go to foreclosre are placed in MLS (our lissting system)

You can sign up with a buyers aent - NO cost to you. You will know the day the property is placed on the market thru an REO.

I aman accredited buyers agent and would be happy to help you locate, make appt, submit offer and walk you thru the process.

If I can help, please give me a call.
... more
0 votes 4 answers Share Flag
Wed Feb 3, 2010
Markkraft answered:
Hi Kay i work with many saxon clients and if you are upside down i can do a short refi with our contact at saxon. you will have to qualify for a new fha loan and cannot be more than 1x30 days late in the past year.
feel free to call me at 954-354-8220
mark kraft
e mortgage management
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0 votes 4 answers Share Flag
Wed Dec 30, 2009
Angela answered:
I have to say, and let me preface this by saying, i am an individual owner of a home in Florida, where Saxon holds my 1st and 2nd mortgage note. This home is a rental property, and i applied for a loan modification with Saxon on the 1st mortgage only. I made Saxon aware that this is a rental property, got them all the required documents to process my loan mod application, which included the current rental agreement. The payment on my 1st is $1004 per month (interest only payment). I just received a phone call one week ago, followed by documents yesterday in the mail, that i was approved for a loan modification...not a trial period, but an actual modification. My new monthly payment, which includes principal, interest, taxes and insurance, is $555! They lowered my interest rate from the 6%+ all the way down to 2.75%. I have the option to continue interest only payments if i want at $329 per month.

I did a ton of research when first considering a loan mod with Saxon, and also while waiting for an answer. I know there are plenty of people's experiences that have been unfavorable with Saxon, but, for those who are seeking a loan mod with Saxon, i just wanted to be able to share my unexpected success, and let you know that i am an actual individual home owner of a rental property that obtained a loan modification. I get to keep my home, the Tenants are able to stay put, and Saxon has a willingly paying consumer of a mortgage note without adding another REO to their books. The way i've always looked at it, is, here you have a willingly paying consumer that needs just a little bit of help to continue to be able to pay their mortgage, and i certainly got more help than i expected to. My brother has a mortgage with Saxon, but unfortunately was not able to obtain a modification, so...there are still those experiences too.
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0 votes 6 answers Share Flag
Sat Sep 12, 2009
Mary Sonatore asked:
Sun Jul 12, 2009
blaison samuel answered:
If it's foreclosed then you are no longer the owner and not responsible for any taxes from the day of auction date. You must have received the notice of sale and the sale date in that letter. Keep that letter with you for your future reference, you may need it for any proof.

Consult with an attorney also to check whether your house is actually sold in auction to any third party or the lender is the new owner. Attorney has the power to check further or check with the lender who is the new owner or what happened at auction.
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0 votes 3 answers Share Flag
Fri Feb 27, 2009
Alayna Berek answered:
It is better for you than foreclosure. If they will not modify and you can't cover the monthly payment with the rents, it is your only option. Don't try to rationalize what they do, it does not always seem to make sense. ... more
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