Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Foreclosure in Texas : Real Estate Advice

  • All829
  • Local Info38
  • Home Buying420
  • Home Selling126
  • Market Conditions15

Activity 1,241
Sat Nov 18, 2017
Susie Kay answered:
I would suggest that you pick up the phone and call a local realtor to assist you.
0 votes 2 answers Share Flag
Mon Nov 13, 2017
Susie Kay answered:
Thu Nov 9, 2017
Blackduck74 asked:
Wed Nov 8, 2017
Gary200051 asked:
Texas. Question: Previous owner gave few " Special Warranty deeds to 3rd party & gave 5% part of that property I purchased? Does that matter anymore?
0 votes 0 Answers Share Flag
Mon Nov 6, 2017
Frank S. answered:
Hello 1bethieberry, do you have an address in particular or are you just inquiring about foreclosure? Foreclosures are homes repossessed by the banks and usually need repairs. Also foreclosures conditions are unknown by the bank so there could be some unknown costly neglect which they will not pay for anything.

Some foreclosures are in need of to much repair that they can not be financed except with a 203k loan which you can buy and repair. You will not be able to get a good buy as most homes are selling at the market value these days withy low inventory and many buyers. You would not want to limit yourself to only looking at foreclosures but also look at the standard sales too.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice whether they are foreclosures or standard sale. You will need to gather some documentation to provide to a lender for a pre-approval letter for the agent and you to have on hand.

You consider 3.5% down FHA with a minimum 580 fico score and 3% down conventional from a minimum 620 fico score. If you have lower scores between 500-579 you would need 10% down to consider FHA.

How much do you pay in rent and what is the maximum payment you are looking to afford? If you figure out what cities/zip codes you are considering, minimum number of bedroom and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria.

The purchase in Richardson start from 114k for 1bd 1.5ba condo, from 122k for 2bd 1.5ba condo, from 144k for 3bd 2ba condo and the single family homes start from 154k for 3bd 1.5ba home. There is a low prices condo from 109k for 3bd 2.5ba. Check out the web reference link below...
... more
0 votes 2 answers Share Flag
Sat Oct 28, 2017
Frank S. answered:
Check out the web reference below who lends down to 500 fico score. They can raise your scores within 3-4 days in most cases to qualify...
0 votes 29 answers Share Flag
Tue Oct 24, 2017
Susan Krug-harkins asked:
I have tried to call Wells Fargo as well as Hubzu, and the attorneys phone number listed on Trulia. All of these tell me they don't even see this address in their system and they advised…
0 votes 0 Answers Share Flag
Tue Oct 24, 2017
Zyre Sullivan answered:
Laws require that there be an acre per horse. There are several properties that may fit your criteria depending on your price point and desired location.
0 votes 2 answers Share Flag
Tue Oct 24, 2017
Kathy Burgreen answered:
The issue with foreclosures and buying from an auction website is...How much money will it cost you to repair, renovate or bring it up to code? Homes that are foreclosed or on auction sites are cheap for a reason. Typically, it requires you to spend more money to fix it. Do you have the cash available? ... more
0 votes 1 answer Share Flag
Mon Oct 23, 2017
Frank S. answered:
Hello Ms.a, are you paying all cash or do you need financing?

Do you know what your fico scores are and how much do you have to invest into a purchase? In this market the longer you wait the more you will pay and the interest rates may be on the rise soon.

You will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation such as paystubs/income, bank statements, tax returns, etc. to supply to a lender for a pre-approval letter.

You may consider 3.5% FHA from a minimum 580 fico score and 3% conventional from a minimum 620 fico score. If you have lower scores you may consider 10% down FHA from fico scores between 500-579.

Your scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

The purchase in 77511 start from 114k for 3bd 2ba single family home that needs some TLC. The purchase in Alvin start from 45k for 5bd 3ba single family home REO foreclosure.

Once you are pre-approved and know your purchasing power you can be set up to receive emails to fit your search criteria. Check out the web reference link below...
... more
0 votes 1 answer Share Flag
Mon Oct 23, 2017
Frank S. answered:
Hello Terrireeves16, are you paying all cash or did you get pre-approved and include a pre-approval letter with your offer? Do you have an agent and loan officer as you should be asking them as they will know the procedures and time frames.

Most bank REO's take a few days to answer but it could be sooner or later...

The purchase in Jasper start from 23k for 2bd 1ba fixer upper single family home and from 28k for 3bd 2ba single family home.

You will need to be pre-approved to be able to submit offers on any homes of your choice. If you get pre-approved and figure out what cities, zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to afford you be emailed listings to consider.
... more
0 votes 1 answer Share Flag
Wed Oct 18, 2017
Cullybirk answered:
I am being foreclosed on for refusing to pay for Condominium insurance for my TOWNHOME!!! The bylaws state that I can have my own homeowners insurance but the board has refused to see our policies since they made the change 2 years ago. I have owned my townhome for fourteen years and never had a problem until the changed the rules, but not the bylaws. The manager of the association is the insurance agent and her lawyer is also the debt collector. I thought that homeowners had a right to their own insurance? The policy they are forcing on us is totally worthless and my mortgage company won't accept it. I now have to get a attorney for following the bylaws. Any suggestions? ... more
0 votes 16 answers Share Flag
Fri Oct 13, 2017
Maryj505.mj answered:
I'm looking at a Fannie Mae foreclosed home, it needs a new roof and HVAC and ac. I'm willing to pay cash will that help negotiate with them?
0 votes 7 answers Share Flag
Mon Sep 25, 2017
Lamaka10 answered:
My question is how can I enforce them to return the note? Also, I've asked for proof they sold or transferred the note and I'd like to see the checks written in behalf of my mortgage and they said they don't have to provide that to me and it's none of my Buisness. I stopped making my payments to WF because they don't own the note anymore. Now they sent me a notice of foreclosure

I own my land patent through a declaration of assignees and its authenticated by the Secretary of State in Texas
... more
0 votes 1 answer Share Flag
Sun Sep 24, 2017
Shornehourse answered:
Who can help meand how can I go about finding a home for me and my family
0 votes 11 answers Share Flag
Mon Sep 18, 2017
Copenhaver answered:
0 votes 7 answers Share Flag
Thu Sep 14, 2017
Melissa Bryan answered:
Here is one of the many sources of foreclosed homes: https://www.hudhomestore.com/Listing/PropertySearchResult.aspx?sState=TX&sLanguage=ENGLISH . You can also check with VA, USDA, the banks themselves, etc. You can do a search on the local county appraisal district websites for owner name "Bank", etc. However, as Susie suggested, I'd recommend working with an agent who can protect your interests during the transaction. Be sure that your agent has experience in finding foreclosures that are NOT listed on the MLS if you're looking to buy something with equity already in it. In general, even the banks and government entities will want to sell very close to market value. The value is often in the sweat equity that you put into the home, improving the condition from "below average" to "average", for example. Happy hunting! ... more
0 votes 4 answers Share Flag
Wed Sep 13, 2017
Zoila0810 answered:
Wed Sep 13, 2017
Alcanamar946324 asked:
1 2 3 4 5 6 7 ...
Search Advice
Search

Followers

116