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Foreclosure in Will County : Real Estate Advice

  • All21
  • Local Info2
  • Home Buying15
  • Home Selling3
  • Market Conditions0

Activity 57
Thu Dec 1, 2016
Paul answered:
Use InBedrock.com to figure out all homeownership costs, including purchase price, closing costs and mortgage financing costs- including issues such as how much income do I need to verify with bank re: my downpayment, interest rate/term and points (if applicable). It's easy to understand, educational + invaluable to any homeowner/renter looking to buy a house. ... more
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Thu Jul 14, 2016
Dnkrcmar asked:
Can you purchase a home from the bank after foreclosure but before being listed with a real estate?
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Wed Mar 30, 2016
Bill Hayes asked:
Thu Jan 28, 2016
Mohalloran917 asked:
since I was in a hardship. During that time I started dating my now husband and we got married. Since we were unsuccessful in short selling it went into foreclosure now I got a 1099c how…
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Sun Nov 8, 2015
Bob Brandt answered:
My observations are that is anywhere from a week to a couple months from when they appear as Coming Soon before they switch to Active.
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Mon May 11, 2015
Sally Grenier answered:
If you're interested in buying a home, you should have a Realtor working for you as a Buyer's Agent. (It doesn't cost you anything). Besides, the listings you see on here aren't necessarily accurate, or even available. Since you're asking about a foreclosure, I assume you're looking at a FAKE Realty Trac listing. They like to post listings with no address, just street name, then get you to sign up for their "Free" listings of foreclosures. DON'T DO IT. All available listings (including foreclosures) will be listed with a Realtor and will appear in your local MLS. There is no magical list. Call a local Realtor who can show you any property that's active in the MLS. ... more
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Sat Apr 11, 2015
Jeff Nobleza answered:
A great attorney I recommend (and has great reviews on yelp) is Erik Miles. Give him a call at 312-854-8092 or Miles@LawFirmMiles.com. Without knowing more about your situation, I recommend that you look into doing a short sale with your home.

Jeff Nobleza
At Properties
1821 Benson Avenue
Evanston, IL 60201
773 677 53402437
... more
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Fri Jun 20, 2014
Jeff Nobleza answered:
Engage a knowledgeable realtor who can guide you through the process.

A good realtor will help explain financing options for and point you out in the right direction to go to in order to get financing.

A good realtor will advise you on what foreclosed homes are currently for sale to the public.

A good realtor will be able to advise you on things like - wIll the house even qualify for financing? are there any violations or liens on the house? how to properly write an offer on the home.

Engage a realtor
... more
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Wed Apr 2, 2014
Suzanne Hamilton answered:
If it was a tax auction, that could be a sticky situation. But there is a redemption period. I would call hud or idha again. They have housing counselors that can help. But you really need to speak with an attorney and/or someone at the bank about what is going on.

Getting an attorney is the best way to find out what is going on and what your options are. If you are within the statutory period for redemption you could pay the bank in full and then get the home back. But if it is past that, your options may be limited.
... more
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Sun Jan 26, 2014
AJ Nichols answered:
Hi Robert, you are looking at 12 months if you can qualify for some programs, and 2 years for an FHA option. However I am partnered with a great company that does lease with the right to purchase, and bankruptcy is not a problem. Contact me for more information 815-791-3150 or Aj-Nichols@kw.com ... more
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Mon Dec 16, 2013
Anna M Brocco answered:
If referring to a RealtyTrac ad, keep in mind that the information may not always be accurate and oftentimes can be misleading, some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. ... more
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Tue Aug 27, 2013
Tman answered:
Go to the will county recorder I'd deeds website and you can see if a sheriffs deed has been recoded
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Thu Jun 6, 2013
Alison Hillman answered:
You can contact the listing agent who will be able to help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's Trulia listing and you will be able to start a dialogue.

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Best,
Ali
... more
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Fri May 31, 2013
Jimish S Desai answered:
There are a few ways to purchase a distressed property.

1. During the foreclosure process (after bank has filed the lis pendes), contact the home owner to see if they will agree to do a short sale.

2. Buy it at the auction. Be careful here. Not only do you have to bring 10% of purchase price that day, but pay the remaining balance within 24 hours or loose your down payment. Also, you will be competing with seasoned investors who will drive up the price on you if they smell inexperience. Also, you will not have the opportunity to inspect the property beforehand.

3. After the bank takes it back, but before it is listed with a realtor, it becomes "shadow inventory." You might be able to track down the asset manager and make an offer.

4. Find a solid realtor (like myself) ;) and let me hunt down the great opportunities for you!
... more
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Sun May 26, 2013
Maria Ascencio answered:
Hello,
There are many factors involved when being foreclosed. You would want to consult with a professional or an attorney to see what your options are, if any to avoid a foreclosure.

Any questions, please contact me
Maria Ascencio
RE/MAX Platinum
(630) 945-0139
... more
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Sun Apr 28, 2013
Zephyr426 asked:
--
This question was asked from this property: http://www.trulia.com/foreclosure/3080757691--S-Schoolhouse-Rd-Manhattan-IL-60442
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Mon Mar 25, 2013
Michael Sims answered:
Your best bet is to engage a foreclosure defense attorney. I recommend Steven Saporta at 815-741-9400. He is one of the most aggressive litigators I have encountered in 35 years. Once you engage him, he may be able to delay the foreclosure proceedings and keep you in the house for awhile. ... more
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Mon Mar 25, 2013
Michael Sims answered:
Your best bet is to engage a foreclosure defense attorney. I recommend Steven Saporta at 815-741-9400. He is one of the most aggressive litigators I have encountered in 35 years. Once you engage him, he may be able to delay the foreclosure proceedings and keep you in the house for awhile. Also key is the ability to negotiate a relocation fee. Meanwhile, you may be able to conduct a short sale and come out of this not so bad. I would be glad to sit down with you and discuss your options. If done properly the impact is much less on your financial profile than if you just let it go to foreclosure. Michael Sims 815-791-7467 ... more
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Mon Mar 25, 2013
Michael Sims answered:
Valerie, If you are not eligible for a HAMP modification then you are probably eligible for a short sale program. You would have to apply for the program and submit paperwork As long as you are working with the mortgage company and trying to sell the home, the foreclosure proceedings MAY be delayed. Many real estate agents claim to be "Short Sale" or "Foreclosure" experts, but only a few of us really have success in getting the deal done. Financially you are much better going through the short sale than allowing a foreclosure or deed in lieu. A short sale has much less impact on your credit score and will give you better chance in the future of getting another home loan. A foreclosure or deed-in-lieu will stay on your credit report for 7 years and you will always have to disclose that you were foreclosed on when you apply for a new mortgage. I would be glad to discuss the 10 different options you have when facing foreclosure with you face to face. I am local in the Plainfield area and can meet with you at your convenience. I can be reached at 815-791-7467 ... more
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Mon Mar 25, 2013
Michael Sims answered:
In Illinois you have 30 days from the date of the Sheriff Sale to redeem your mortgage in full. So if you have the cash to pay it off go ahead and do so. Sounds simple enough right? Since most people do not have the cash to do so, you can do one of two things. 1) Move and not worry about the home any longer, or 2) remain in the home until you get an eviction notice. Many of the lenders are working with the former homeowners and allowing rent-back programs and also Cash-For-Keys which is a relocation program. That is to say that some of them will provide moving assistance for you. That can go a long way with a security deposit and actual moving expenses. The best thing is to talk to your mortgage company, the probably have a toll-free number too! ... more
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