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Government Tax Foreclosure Sale All Locations : Nationwide Real Estate Advice

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Showing results for Government Tax Foreclosure Sale [Clear search]
Sat Feb 11, 2017
Caroline Harabedian answered:
Well, it really matters what part of LA you are looking at. In the valley, in Granada Hills (what I like to call the Beverly Hills of the Valley), you can find a nice 5 bedroom house, large with a pool for around $500k. Average price of homes in the valley are well below $400k total. Most of these homes are built in the 80s and 90s, but some of the higher end homes are built after the 94 earthquake so you have more modern choices. Most people buying above $700k are putting large amounts in down payment, that's why they can afford home loans.

If you want to speak with a qualified loan officer about your loan needs, I can recommend Bridgette at WestCom Lending (818) 335-0283 /

All in all, location is key in finding a home that is for you. Maybe try searching a slight further commute to work to have the luxury home you want. Any questions, feel free to contact me.

Caroline Harabedian
RE-Search Concept
8700 Reseda Blvd., Suite 213-B
Northridge, California 91324
(818) 967-9626 mobile
(818) 979-0226 fax
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Thu Jan 10, 2013
William Polack answered:
You will have to use private money. Minimum down is zero. Minimum rate around 9.5%. You'll have 3 to 5 years to refinance out. That's about how much time you'll have to wait to qualify for FHA. Make sure that the price point of the house is within FHA loan limits for the county you plan on living in. Each county has its limit. It takes about 30 days to close. Must have a job or some form of income to qualify. There is an application fee. ... more
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Wed Jun 10, 2015
Ted Kostzewski answered:
The laws have changed and the ansers are not simple ones. Heres an article to get you started.
VA Loan Articles

News, updates, and explanations to keep you informed.

VA Loan Assumption--What Veterans Need to Know

by Bruce Reichstein

If you purchased a home with a VA guaranteed mortgage loan, you may find yourself in a position someday where you need to sell. Active duty military members facing permanent change of station moves, or those who simply want to upgrade to a larger home in a different area must deal with the sale of a home before their VA loan is paid in full. In some cases, a VA loan may be assumable, that is the buyer can take over the VA loan regardless of whether they are civilian or military.

At one time, all homes purchased with a VA loan were considered assumable, but since then the rules have changed. Do you know the circumstances where you are allowed to sell the home and have the seller assume the VA mortgage?

In cases where a veteran home owner is getting a divorce, the VA allows what's known as an unrestricted transfer. This is allowed in cases where the military spouse and non-military partner are co-borrowers. The VA mortgage can be assumed in cases like these, but the VA strongly urges both parties to sign a release of liability so the departing co-borrower is not held liable for any credit issues that may come as a result of default or foreclosure should the occur. In cases of unrestricted transfer, the VA must approve the transaction, not the bank.

VA home loans may also be assumed if the loan closed before March 1, 1988. In these cases, the loan assumption is unrestricted--the buyer assumes the VA loan without requiring the approval of the bank or the VA. One caveat to this, however--the veteran remains liable for any losses the VA may incur as a result of the loan assumption. It's very important to get some VA advice on how to protect yourself before agreeing to this type of sale, as the purchaser may be allowed to sell the home once more and let a third party assume the loan, with the veteran still liable for losses to the VA.

In cases where VA loans were closed after March 1, 1988, VA loan assumption is not allowed unless you obtain prior approval from the lender. This extra step may be time consuming, but there is a benefit at the end of the process--the veteran is released from liability to the VA and doesn't have to worry about the sale of the home coming back to haunt them at a later date if the purchaser defaults on the loan.

The VA warns VA mortgage holders not to proceed with a VA loan assumption in these cases without prior bank approval. Those who do could get a notice from the VA that the VA loan is "due on sale", even if all payments are on time and current.
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Wed Jul 17, 2013
Mark Gundlach - The Gundlach Group answered:
There will be stipulations in the approval letter but, you can also request a written statement from the bank that your debt has been forgiven in the form of accepting the short sale, and that no further action will take place. Your agent should be able to guide you in the right direction on this. ... more
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Sun May 17, 2015
Jim Olive answered:
They can certainly come after you, but the question is will their claim hold up in court. For that, I would consult a legal professional, not a bunch of real estate agents. Best of luck... ... more
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Fri Dec 20, 2013
Michelle Adams answered:
Hi Rene,

Good question! The quick answer is yes, you would pay taxes on the tax appraised value. You can look up tax appraisals by address here

Please let me know if you would like additional information about foreclosures, I have 8 years experience buying and selling foreclosed homes in and around Austin.

Thank you,
Michelle Adams,
Real Estate Consultant
Ultima Real Estate
512.574.2969 cell | 512.812.4412 fax | 512.22CONDO Office
Find me on: LinkedIn | | About Me |Trulia
Please review Information about brokerage services
Current Government Affairs Committee Member
Sales | Leasing | Purchasing | Land
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0 votes 11 answers Share Flag
Mon Dec 17, 2012
Michael Hammond answered:
Hindsight's always 20/20, hogwmfwa, but was there no way to get Wells, the Buyer, their Agent, your Agent, as well as you and your spouse together and somehow make that $15K payment to USAA happen? As far as your current options, you might consider speaking with an attorney. Tomorrow. Please call, text or email if we can provide further assistance. Good Luck!

Michael Hammond
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Fri Aug 12, 2016
Phil Makarewicz answered:
USDA is a very common type of lending in this area, almost all first time buyers are going with 100% financing such as USDA or FHA. Their inspections require a lot of basics such GFCI outlets in kitchens and bathrooms, is there any peeling paint, is there a sign of a problems that might cost the buyer money in the near future ? Depending on what kind of condition your home is the deciding factor if it will pass USDA. Personally I'm able to tell if a house will pass just by walking through it, but that's because I used to be a contractor. You can also call the USDA office in Ottawa and get the guidelines you might going up against. I hope this helps. ... more
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Mon Dec 24, 2012
Norma Perry answered:
Buy when I was first married in 1963 while prices were low and you got a lot for your money.
0 votes 145 answers Share Flag
Fri Jun 12, 2015
Moses Schwartz answered:
There are lenders that will lend you 50-60% without a problem as a second home or investment property. Feel free to call me and I can point you in the right direction. I have been in the mortgage business for the last 10years and can get you access to very competitive lenders. feel free to call me at 305-987-9179 or email me at


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Mon Jan 9, 2017
Lenny Frolov answered:
Yes the requirements still apply regardless if you paid cash or got financing. HUD accepted your offer based on the assumption you will occupy, they may have went with a different offer if you were not intending to occupy. ... more
0 votes 18 answers Share Flag
Tue Apr 15, 2014
James Martin answered:
Most banks/investors require the the transaction to be an "Arm's length transaction".
Here is part of the wording from such an affidavit from BOA.

l hereby affirm that this short sale is an "Arm's Length" Transaction. No party to this conlract is a family member,related by blood or marriage.

Obviously, fraud would be committed by signing the affidavit and having the listing agent being related to the seller.

James Martin
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Tue Nov 20, 2012
Maria Hernandez answered:
Do you want to put the home up for sell? I can help with that. I'm tr-lingual and will market your home differently. Also, if you have any question about the house give me a call. My cell is 214-335-8593 Maria Hernandez ... more
0 votes 4 answers Share Flag
Sun Nov 11, 2012
LaTonya Martin answered:
Absolutely, you can earn equity from purchasing a foreclosed home. I work with several investors & first time home buyers, who have gotten some great deals in the last view months and moved in with 30K or so in equity. It all depends on the value of the property. They are not giving foreclosures away, but it is a great time to buy! Call me @ 615-582-1156 and I can personally answer your questions for you. Thanks LaTonya ... more
0 votes 7 answers Share Flag
Thu Nov 6, 2014
Jesus Pazmino answered:
Hi Angelica,

Buying a foreclosure through a listed property is usually always closed through the title agent. The title agent will run a lien and title search that will show any defects in title and give the bank the opportunity to correct those defects. In the end, unless otherwise stated, your title should be free and clear. You do not pickup any debts. This goes for any listed property, shortsale, regular Sale, foreclosure.

Please feel free to call me and I can go into more detail.

Jesus Pazmino PA
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Tue Dec 27, 2016
Charryl Youman answered:
Hello, Janelle. If you are looking in the Venice area, at zip code 34293, please note that:

1. The local MLS has a public access area, where you can see fresh and correct data - and everything on the market. Try It's not affiliated with any broker - it's a public domain, free and easy to use.

2. I live and work in Venice, so I know that there are other zip codes you might want to check in Venice:

34292, which is the corridor around Venice Avenue (leading to the beach and historic district)
34285, which is Venice Island and some areas just off the Island, but, again, close to the beach
34275, which includes North Venice, and a small, sister City of Nokomis, right next door

34293 is the biggest area in Venice, but not the only area. I don't want you to miss a thing!

3. If you like the satellite view that Trulia offers, you can try my website at It also offers street view, which is kind of cool (it lets you walk around the house and the neighborhood), a daily updated listed of all Venice foreclosures, and is also FREE and easy to use.

I never bug anyone who uses my website, so you can play at will.

I hope that helps!
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0 votes 13 answers Share Flag
Mon Oct 1, 2012
Shivani Yadav answered:
A Timeline ( Source:

When you fall behind on your mortgage payments, you can expect most lenders to react quickly. Below is a general time line of what may occur following your first late payment and ending in foreclosure.

Day 1-15: A mortgage payment is missed.
Day 16-30:

A late charge is assessed on payment. The loan servicer (the company that processes your mortgage payments) will send you a notice or otherwise attempt to make contact with you.

Day 30-60+ If your mortgage is for a home you live in, the lender or loan servicer must send you a pre-foreclosure notice at least 90 days before commencing foreclosure. This 90-day window gives you the opportunity to try to work with your lender to find an alternative to foreclosure. The notice must tell you how much you must pay to bring the loan current. It must also give you the names and telephone numbers of at least five government approved not-for-profit housing counseling agencies serving the region where you reside.
Day 45-60:

The loan servicer will send a "demand" or "breach" letter pointing out that terms of the mortgage have been violated. You will be given 30 days to pay the delinquent amount and the late charge.

Day 90+

The servicer will begin the process of bringing a legal action for foreclosure. This may include referring the loan to its foreclosure department, hiring an attorney to initiate foreclosure proceedings, recording a formal notice of foreclosure or “lis pendens” with the court and serving you with notice of the action through a “summons and complaint.” These proceedings can take 7-9 months.

Once a summons and complaint has been served on you and the lender files proof of service with the court, the court is required to schedule a settlement conference within 60 days. This is an opportunity for you to meet face to face with your lender or lender’s representative to reach a resolution of the case. You should try to meet with a housing counselor or attorney prior to the conference. You should bring proof of income such as your two most recent pay stubs and most recent tax return to the conference.

You will also have to respond to the summons and complaint. If you do not respond, the court can rule against you and schedule a foreclosure sale. If you do respond, the court will rule on whether a foreclosure can occur based on the evidence presented. If the court rules against the borrower (you) a foreclosure sale is scheduled.

The sale usually occurs at least 4 months after the court ruling. A notice of sale is published in a general circulation newspaper once a week for at least 4 weeks prior to the sale.

The foreclosure process in New York currently takes about 445 days (15 months) from the date of the first missed payment to the sale of the home.

Foreclosure sales in New York are by public auction, usually at a county courthouse. The home is sold to the highest bidder and anyone, including the lender, may bid. Once payment is made and the sale is complete the winning bidder takes ownership of the property.

Once a sale is complete, you have no right of redemption. You lose your house.
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Thu Sep 20, 2012
Caney Arnold answered:
I would recommend that you check with a real estate attorney to have them assess your specific situation and to go over your options with you. They can tell you the pros and cons of foreclosure vs. bankruptcy vs. short sale vs. paying. Some attorneys are willing to talk to you over the phone for free to assess your situation and give you some basic advice. Your local Association of Realtors may be able to refer you to an attorney, or you can contact me and I can give you the contact information of someone in my area (LA's South Bay Area).

Caney Arnold, Realtor
DRE# 01916191
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Sat Sep 15, 2012
Aaron Sims answered:
888-995-HOPE (4673)

I just looked up HAFA and got that phone number from the above website. You are represented by a Realtor so it would be unethical of me or anyone else here to give you advice. If you believe your Realtor has been less than honest and not represented you as you believe she should have then you should try and speak to her, her office manager, or broker. HAFA seems to be something run by the Government so not sure your Realtor can do anything about it, I could be wrong though.
I wish you the best!
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0 votes 4 answers Share Flag
Tue May 3, 2016
Michele Peterson answered:
With Foreclosure the only thing that will potentially go away is your home loan and there are many details needed before you could get definite answers on the home loan. The balance of the liens/loans, etc will all go to collections in a Foreclosure.

Have you thought about a Short Sale?
It gives you some more solutions and also the ability to get several of the liens/loans settled through the short sale and not worry about after the fact.

Utlity Bills will also go to collections in a Foreclosure.

A short sale can give you more options, relocation assistance, debt forgiveness, and more.

Please reach out to a realtor to discuss short sale options vs. foreclosure .

Wishing you the best as you move forward.

Michele Peterson
Keller Williams Realty
CA DRE 01872795
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