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Foreclosure in Riverview : Real Estate Advice

  • All198
  • Local Info17
  • Home Buying71
  • Home Selling3
  • Market Conditions8

Activity 7
Wed Jul 27, 2016
Angelica P answered:
Hello,

We didn't get enough information about your problem to resolve the issue. Please provide us with complete property address and we will be happy to assist you.

For future reference, you can feel free to contact us about this type of inquiry through our contact form here:

http://www.trulia.com/help/ask/


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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0 votes 1 answer Share Flag
Fri May 9, 2014
Alma Kee answered:
Hi Donna,

Also the Lis Pendens properties shown on Real Estate websites are used as a tool to get you to sign up for publicly available information.

To simplify:

If you have CASH and are a RISK taker, you can bid at the courthouse online foreclosure auctions. You will NOT get a clear title and you may have to do legal work to evict an occupant and you will not be able to inspect. A $100k property may sell for $80k--unless there are serious defects with the property or title. Investment firms are buying up a lot of the "cleaner" foreclosure properties so prices are being driven up.

If no one bids the required minimum sale price at the courthouse then the house will go back to the lender. If it is a guaranteed mortgage (i.e. FHA, VA) then the lender will make a claim and give the house back to the guarantor. Then it will be listed by a local Realtor and sold at "retail" prices. Many properties receive multiple offers by investment firms paying CASH so if you are not paying with ALL CASH you need to expect to pay RETAIL prices to get a contract on a property. If you're planning to occupy as your primary residence you may get exclusive right to certain properties during the first ten (HUD) to twenty (Fannie Mae) days on the market.

So if something appears too good to be true...

Hope this helps.

All the best,
Alma Kee
Sold On Tampa Team
www.SoldOnTampa.com
813.244.9898
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0 votes 3 answers Share Flag
Thu Oct 24, 2013
Dana Cates answered:
It is not likely in the current market. Inventory is very low so the prices are being driven up. You can find a "fixer upper" for a good price (probably in the 50's to 80's range) but then you have to consider what money you will have to invest to fix it up. The market is on the rise, it is not currently a "buyers market". However, there are still a lot of great deals out there if you are will to take the time to find them. ... more
0 votes 2 answers Share Flag
Mon Oct 7, 2013
Tracy Hoyt answered:
Sherika,

Please email the address or mls number to me at thoyt@prutropical.com. I would be happy to research this condo and help you with a purchase.

You may also reach me thru my profile on Trulia.

Respectfully,
Tracy Hoyt
Realtor
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0 votes 1 answer Share Flag
Tue Feb 26, 2013
Alma Kee answered:
Also the $6,321 may be a foreclosure lawsuit filed by the Homeowners Association or Condo assn. The first mortgage will survive the HOA foreclosure and eventually will foreclose on the investor that buys it for Cash at the courthouse. Some investors are doing this and renting out the home if they think it may be a while before the 1st mortgage forecloses and takes the property back. ... more
1 vote 5 answers Share Flag
Wed Sep 8, 2010
Alma Kee answered:
Dear Marie,

IndyMac was probably just the "servicer" that you mailed your payments to. Deutsche Bank is probably the actual owner of the mortgage as a "trustee" for a pool of mortgages that were sold to investors.

Be very careful and make sure you attempt to contact the company you pay your mortgage to to work out a modification or Short Sale.

I can help you with a Short Sale at no cost to you, please call me if I can help you. I also may be able to get you $3,000 in cash at closing(for relocation expenses) if we can get you qualified through the HAFA short sale program. Please call me if I can help you 813.244.9898 or send me an email. RealtorAlma@gmail.com

All the best,
Alma
Alma Rose Kee, PA
Future Home Realty
www.SoldOnTampa.com
813.244.9898
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0 votes 3 answers Share Flag
Tue Jun 2, 2009
Celine F answered:
Who send your mom the letter? The attorney, mortgage company, sheriff's office, or someone else who looked at a possible sale list and sent it?

The best way is talk to the landlord and see if he / she is doing anything to prevent the foreclosure. Ask the landlord to let you speak to the mortgage company so that you can get an idea of the time line.

If her lease is not up yet and she has been doing everything she does as the tenant, then don't rush, but take the time to look for another rental option or possibly buy her a home so you guys would be in more control.

Good Luck!
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0 votes 1 answer Share Flag
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