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Foreclosure in Washington : Real Estate Advice

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Activity 317
Yesterday at 2:40pm
Dave Skow answered:
2/22/2017

Do you or your son need help with any loan or financing needs or questions ?

Dave Skow
Eagle home mortgage
206 714 9745
Daveskow@eaglehm.com
0 votes 4 answers Share Flag
Thu Feb 16, 2017
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
0 votes 1 answer Share Flag
Thu Feb 16, 2017
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
0 votes 1 answer Share Flag
Sat Feb 11, 2017
Sally Grenier answered:
First you need to contact a local REALTOR who can work for you as a Buyer's Agent. He/she can see if the property is still available. Keep in mind the listings you see here on this site (and others like Zillow and even Realtor.com) have VERY outdated listings. Most likely the home you're looking at has been under contract for weeks. This is why you need an agent working for you. Good luck! ... more
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Wed Jan 25, 2017
Bernard G. answered:
Hello,

I have emailed you regarding this concern.

Regards,

Bernard
Consumer Care Advocate
0 votes 1 answer Share Flag
Tue Dec 27, 2016
Maricris A answered:
Hello,

I have emailed you regarding this concern.

Regards,

Maricris
Consumer Care Advocate
0 votes 1 answer Share Flag
Sun Dec 11, 2016
Chrisnsea answered:
More detail. I'm in a HOA in Washington State and a parcel of land next to mine was foreclosed by the county and auctioned for price of past taxes (approx $1300.) My HOA had a lein on the property for nearly $15,000 for past HOA dues. The property is only valued at $10K. The HOA claims it can keep the lein on the property until the new buyer pays for the past owners unpaid HOA dues. I thought once foreclosed, the HOA would need to pursue past dues from past owner and could not pursue repayment from new owner. ... more
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Sat Dec 3, 2016
Michael Ross answered:
First, let me address the particular home that you were looking at: It is in default on a loan of less than $200,000. That's on a home that would probably sell for over $600,000 as a fixer. That means that the person will probably bring the loan current or sell it the traditional way, pay off the loan and realize a substantial gain.

That home has entered the foreclosure process but has not been foreclosed on. The significant difference is that a home in the foreclosure process is not really for sale--the owner has just become delinquent in his/her mortgage and a public notice has been filed that starts the foreclosure process.

You can, however, buy an already foreclosed home (one that the lender has taken possession of) and there are some good deals to be had on those homes. Get a good real estate agent (like me) and they can provide you with a list of those homes. Foreclosed homes allow for you to be represented by an agent and it's a good idea because those types of listings can get a little tricky--like having shut-off utilities and hidden defects

If you want to have some fun searching for foreclosed homes in the internet you can see some by searching for the "HUD homestore"
... more
0 votes 2 answers Share Flag
Thu Sep 29, 2016
Kary Krismer answered:
I've never done it because it is risky.

First thing you need to do is understand the liens and other issues against the property. For example, is the deed of trust being foreclosed a second position lien, such that you'll still need to deal with the first position creditor. Also, I saw one property where it had a lis pendens against the property because the property had been used as a grow house. Ignoring the issues with the changes to the house, the county's position was apparently that they could still "abate" the interest in the house after the property sold, leaving the buyer with nothing.

There are also condition issues, so the best houses are the ones listed for sale where you can go inside before the foreclosure. That would take a ton of work though because many of those houses never go to auction.

Then there's the likelihood that the owner won't move out and/or might file a bankruptcy at an inopportune time, delaying matters. I've seen bankruptcies hold up a purchase for years.

That's only a partial, off the top of my head list. You might want to consult a real estate attorney for more advice. I would stay away from those companies that purport to help people buy foreclosures. From what I've seen they don't understand the legal issues.
... more
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Tue Sep 13, 2016
Kary Krismer answered:
You really need to talk to an attorney about your specific situation, but deficiency judgments are rather rare in Washington assuming the security document was a deed of trust.

If there is a deficiency judgment, you will likely be responsible for some costs, primarily attorney fees and other foreclosure costs. But typically your responsibility for costs ends at the point of the foreclosure sale, not the later sale where the bank lists the property using an agent.

Again you need to talk to an attorney. Your being liable for a deficiency will depend on specific facts, including your income/assets and type of loan (e.g. USDA).
... more
0 votes 1 answer Share Flag
Tue Aug 23, 2016
Maricris A answered:
Hello,

I apologize we have false foreclosure information listed on our home details page. This data is provided to us from Zillow foreclosures and we currently do not have the ability to edit or remove the information that they are sending us.

Please be advised that I have created a request regarding the removal of the erroneous foreclosure information for your home on Zillow.

Once the status is removed from Zillow, it will automatically update to Trulia after 24-48 hours.

Regards,

Maricris
Consumer Care Advocate
... more
0 votes 1 answer Share Flag
Thu Aug 18, 2016
Kimberly asked:
Thu Aug 18, 2016
Kary Krismer answered:
You might want to ask the question in a Florida forum, rather than an Everett, Washington forum. Better yet, ask an attorney, because real estate agents probably don't know all the details of that answer (e.g. what other things you might still have to pay to keep the land). ... more
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Wed Aug 3, 2016
Shaun.brog asked:
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This question was asked from this property: http://www.trulia.com/foreclosure/3004169747-1100-Stallon-Pl-Richland-WA-99352
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Tue Aug 2, 2016
Kary Krismer answered:
You need to talk to an attorney about your options. My thought would be you might be able to have the property placed into receivership, and then having the receiver sell the property, but I am not at all familiar with that process, so I can't say that will work. You would need a creditor/debtor attorney or maybe a real estate attorney.

At this point neither banks is probably all that interested in speeding things up because the value of the asset is likely increasing rather than decreasing.
... more
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Wed Jul 27, 2016
Jimboz2 asked:
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This question was asked from this property: http://www.trulia.com/foreclosure/3237045285-8523-Vistarama-Ave-Everett-WA-98208
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Wed Jul 20, 2016
Golderj answered:
Check 64.34.364 section 11 if you obtain through foreclosure you are not responsible for previous HOA s
0 votes 16 answers Share Flag
Thu Jul 7, 2016
Kary Krismer answered:
Washington's Supreme Court just ruled that the banks do not have the right to do this. There is apparently a class action lawsuit over the practice.

http://www.courts.wa.gov/opinions/pdf/920818.pdf ... more
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Mon Jul 4, 2016
Marcy Baskin asked:
Yesterday I discovered my house had been broken into by Safeguard Properties. To add insult to injury, they left the house unsecured, garage unlocked, lockbox open and accessible (the lockbox…
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