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How Long Can Stay In House Foreclosure In New Jersey All Locations : Nationwide Real Estate Advice

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Showing results for How Long Can Stay In House Foreclosure In New Jersey [Clear search]
Tue Apr 10, 2012
Abu Musa answered:
In real estate some of us provide Relocation service.Which is easy way to relocate for you.You can use relocation service from any real estate you comfortable with.Here is my website www.brooklynrealestatenyc.com. You can visit my website and click help me relocate then fill out the form I will be happy to assist you .Thank you. ... more
0 votes 24 answers Share Flag
Fri Apr 13, 2012
Eli Givoni-Short Sale Dept LLC answered:
Yes. If you owe more to the bank then the property is worth, you can do a short sale. Feel free to give us a call and we can explain the process to you.

Eli Givoni, Director
Short Sale Department, LLC
561-361-1909
info@shortsaledept.com
www.shortsaledepartment.com
Serving all 50 states

MARS Disclosure for General Commercial Communications
IMPORTANT NOTICE:
Short Sale Department, LLC is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit.
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0 votes 45 answers Share Flag
Thu Dec 15, 2011
Gerard Carney answered:
You are absolutely wrong, Agents sit in the dark on the information regarding Short Sales, Simply put, there is very little information other than a Realtor has made the asking price, quite often the bank does not even know what this price is so you don't even know if you offer asking as to whether they will accept it or not! Short Sales are the banks control and no one else s, and they are very tight lipped about each sale they have allowed! I think you have been asking questions and expecting answers to stuff that none of the people involved in have answers to! Relax, it will all come together, but you do know short sales can take months before an agreement is reached. as quick as two or three months if the bank is okay with the offer made, to as much as 6 to 8 months for a sale that the listing agent may not have submitted all the paperwork for, or that they priced too low for the banks liking. You agent is nothing more than a victim of the other agents lack of information! ... more
0 votes 18 answers Share Flag
Sun Apr 16, 2017
Frank Biganski answered:
Isabel,

I specialize in townhome and condo properties and since you are considering the possibility of leasing the property, I would not suggest purchasing within a condo community as they do have bylaws and restictions that will prevent you from leasing the property for anything less than a year and also, may prevent you from leasing completely due to tighter rental ratio restrictions (condos can look like townhomes in our area).

However, depending on your price range, there are plenty of townhome properties that do not impose the restrictions condo owners are up against, yet can still offer you a great opportunities, including some bank owned proeprties priced well below market values too.

On average, our local real estate market has remained pretty strong but that does depend a lot on location and price range. So if you'd like to shoot me an email and provide me with your price range, that will set the stage as to what's avaiulable to you.

Kind regards,

Frank Biganski, Realtor
(757) 303-0517
Reliance Realty, Inc.
frank@mrtownhome.net
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0 votes 16 answers Share Flag
Thu Dec 20, 2012
Sean McIllwain answered:
I can't see Boulder having a meltdown due to several key factors:

1. College town
2. Slow growth initiative
3. Appreciation in the bubble years was never out of control as compared to towns that are now see huge declines
4. Tech savvy/outdoors oriented community that is drawing more and more growing companies

I once heard that, until they move the mountains, Boulder will always be a desirable place to live. I couldn't agree more.

Thanks!
Sean
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0 votes 15 answers Share Flag
Wed Jun 15, 2011
Helen Cocuzza answered:
I have never had that occur, it is still going to be sold whether by Sheriff's sale or Bank so typically you cant get it back. However I did know of a fellow that was losing his house and the family was able to buy it as a short sale from the bank in time before the foreclosure process. I hope all works out.

Helen Cocuzza Realtor Associate
Better Homes & Gardens Real Estate Mary Holder Office
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0 votes 6 answers Share Flag
Tue Jul 18, 2017
Kathleen Lordbock answered:
Mon Feb 10, 2014
Jennifer Blanchard answered:
Hi Newbie, I'm sorry to hear this question. Your relationship with your realtor should leave no room for this sort of doubt. But, if you truly need assurance, you can ask your agent to have a ... more
0 votes 31 answers Share Flag
Sat Apr 30, 2011
Cindy Crawford answered:
Hi Otis,
An average list to sales price in these neighborhoods is around 96%. I'd love to help you find the right home. Please call text or email me.
Cindy
Cindy Crawford, REALTOR®, PSC
Keller Williams Realty
101 Old Settlers Blvd #190
Round Rock, TX 78664
(512)217-8990 Cell
(512)579-4241 efax
cindycrawfordrealtor@gmail.com



"The Highest Compliment our Clients can give is the Referral of Their
Family, Friends and Business Associates. Thank You for Your Trust."
When it's time to buy or sell, give me a call. I have up-to-the-minute information on the real estate market in your area.
www.CindyCrawfordHomes.com
Each Office Is Independently Owned and Operated.
Texas law requires all real estate licensees to give the following information about brokerage services to prospective buyers, tenants, sellers and landlords: www.trec.state.tx.us/pdf/contracts/OP-K.pdf
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0 votes 23 answers Share Flag
Tue Feb 15, 2011
Linda S. Cefalu answered:
I think the news has a way of causing some of the issues we are dealing with. I believe we will be looking at an increase in the number of foreclosures in the future. However, while that is happening, I am seeing an upswing in the market. While this time of yearly is typically busy for me, I am almost as busy as I was in 2004-2005.

There are areas in Wisconsin that are not only holding steady, but are also increasing a bit. In addition, there seems to be many more buyers that are more than qualified to buy. I believe I am witnessing a trend that is going to continue and therefore, eliminate much of the inventory. So, whether or not we are going to see a surge in foreclosures is not really as important to me as whether or not the current trend will continue in my market.

I also believe that many in the industry - whether it be a buyer, seller, agent or lender - are much better educated on the process of getting through the short sales and foreclosures which in turn is helping to move things along.

Just my thoughts.
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0 votes 55 answers Share Flag
Tue Aug 25, 2015
Felix Hung answered:
If the underwriter is asking for you to repair the property, it's likely that you're financing with a FHA loan. If that is the case, your agent should have known that the property may not pass the FHA appraisal. When buying a foreclosure, knowing how the banks (sellers) operate is important. IF you're financing the home with a FHA loan, you may want to talk to your agent about what the bank is offering. It could be the only way you can buy the home. ... more
0 votes 23 answers Share Flag
Sat Jun 20, 2015
Lisa Cannata answered:
A lot of the times the companies that tend to list the majority of REO properties have the Realtors with the most experience working for them. Even using the listing agent when it comes to REO's is not a bad thing as Dual agency in this case really doesn't pose the same problem as it does in "normal" transactions. If you end up making calls just be sure to ask the questions directly to the Realtor you're speaking with. How much if any experience have you had dealing with REO properties? ... more
0 votes 19 answers Share Flag
Fri Jul 15, 2011
Laud answered:
You can ALWAYS find a Realtor who will do it for less. There are hundreds of Realtors who are basically out of work and willing to do just about anything for money. They too are unemployed but hold a license.

Is that who you want to handle this extraordinarily important sale for you? Would it make more sense to hire the best, most experienced, successful Realtor who will get the job done rather than try to save you some small portion of your expenses?

20 Per Cent of the Realtors sell 80 Per Cent of the houses You can pick from the 20 or you can pick from the 80.

Sounds to me like you might be better off taking some straightforward, no-holds-barred advice from someone who can get you where you absolutely must be: sold.

Why get someone who can't even negotiate their paycheck good enough to keep you from taking a third of their income before they even start?

The math works like this: The average listing commission in Blackhawk is 6%. Split 50/50 between the Listing Agent and the Buyer Agent. Even the flat fee listers do that and so do the vast majority of the FSBO sellers. So figure that 3% is inevitable. So what you are really asking is "How can I hire a listing agent for less than 3%?

What would be enough? 2%? 1%? The good ones don't need to cut their commission and the rest don't matter. This will be the biggest sale of your life and you want to cut corners? HUH?

You have a short sale just waiting to happen. You definitely DON'T WANT someone who doesn't clearly know exactly what they are doing to handle this transaction. Too much risk, too much work to handle your problem and not get paid enough.

Just listing your house isn't enough. You need help. Competent, experienced, no nonsense help.
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0 votes 49 answers Share Flag
Mon Dec 13, 2010
Laura Giannotta answered:
You are represented by a REALTOR, it would be unethical for another REALTOR to advise you.
0 votes 21 answers Share Flag
Fri Feb 4, 2011
Ann Ewell & Melinda Cronk answered:
Hello. While short sales can represent a great bargain for buyers who are willing to do the work, the downfall is that you have to be willing to wait through the approval process. Some short sales can be bank approved within weeks, and others have been known to take more than a year. If you are in a situation where you can't wait any longer, you should check with your attorney to see what your options are for terminating the contract. Otherwise, unfortunately the deal will only move as fast as the bank allows. ... more
0 votes 16 answers Share Flag
Sun Jul 15, 2012
David Leonard answered:
To answer the foreclosure question: if the property is already foreclosed on, you won't save any money. The banks get a BPO on the property from three agents, they pick one, and that's the price. Rarely do they negotiate, and the property is at market value. If you're talking about a short sale, you'll need an excellent agent or you'll be six months into the process and not get a house. The longer you wait, the more it will cost you. Look for an agent (like me!) who has the SFR designation (Short Sale & Foreclosure Resource). Two bedrooms are more popular for renters, and are better for resale - stick with those. You should look for something with a GRM under 12. I've been an investor for years, and trust me, stay away from GRMs of 16 and above. Although cash on cash return isn't the point of most rentals, you should still shoot for 4%, and all positive cash flow. Allow for 5% vacancy. And buy now in Jersey City, because by 2015 you won't be able to afford it. Questions? Give me a call - I've been at this a long time. Just not tonight. I have two dozen clients and I'm taking the night off after an exhausting day. Normally I answer the phone from 9am to 9pm 7 days per week.

David Leonard
Weichert Realtors
718-915-2855

dave@davidleonard.biz
... more
0 votes 10 answers Share Flag
Mon Nov 1, 2010
Joanna Morris answered:
Typically the foreclosure process takes a long time. Eventually they will foreclose and give the property to a Realtor to list.
0 votes 7 answers Share Flag
Wed Oct 20, 2010
answered:
The square footage of the units is more important in trying to figure this out than strictly whether it has 2 or 3 bedrooms. That seems like a large price difference in that price range (in otherwords, if you are talking about a difference of $550,000 to $650,000, although it's the same $100,000, the percentage is smaller). If there are other additional features, such as a den, larger kitchen, extra bathroom, that also needs to be taken into account. ... more
0 votes 11 answers Share Flag
Wed Oct 26, 2011
Scott Miller answered:
Hi Suz. Hmmmm, well, Florida is receiving $388M from Wells Fargo in a settlement towards mods, right? So that would be 388 homes at a million $ each, or 776 at $500K/ea, or 1552 at $250K/ea. A drop in the ocean of foreclosures. A non-event.

Appraisers are required to use foreclosures b/c they must take into account market sales, regardless of status. It's impossible to use bubble-priced homes as comps just because people purchased those homes at the top of the market. A home is worth the exact amount that someone is willing to pay for it. That's free market valuations.

How will that affect home prices? DOWN. Real estate is local, so some places are experiencing a 'bottom' or slight increases. Across the board, nationally, DOWN.

Scott Miller, Realty Associates, Boca Raton, FL
... more
0 votes 9 answers Share Flag
Tue May 1, 2012
Bill Eckler answered:
Balaji,

This issue likens itself to the proverbial question, "which came first, the chicken or.......?"

Banks will tell us there is a multitude of red tape to work through to assure that a clear title goes to the new buyer and that the number of short sales facing them is staggering....they just can't keep up.......

On the other hand, many real estate professionals, attorneys, and other related field representatives agree that it may be a case of them "just not caring."
... more
0 votes 10 answers Share Flag
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