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Pasreo All Locations : Nationwide Real Estate Advice

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Activity 61
Showing results for Pasreo [Clear search]
Sat Feb 5, 2011
Patrick Thies answered:
Scores in the 400's on low 500's probably won't work but you should talk to a lender to be sure and see what you need to do to improve your score.
0 votes 4 answers Share Flag
Mon Feb 22, 2010
Kathy Weber answered:
Scorpio,

First off, you need to seek guidance from a local Realtor in your area. I would advise looking under "Find a Pro" tab on Trulia.

They would most likely be able to give you a few references for mortgage officer's in the area.

Sounds like your best bet would be to get a FHA loan which only requires 3 1/2% down payment. Townhomes bring a different perspective on getting a loan. Owner occupancy ratio's, etc. Due diligence on your end will reap the best rewards.

Good luck!
... more
0 votes 17 answers Share Flag
Fri Jun 26, 2009
Lenny Bobrow answered:
If you will give me your e-mail address I will be happy to send you a list of these properties.

Thanks

Donna Galinsky
Pugatch Realty
516-317-9253
dgalinsky@pugatch,com
0 votes 3 answers Share Flag
Fri Oct 23, 2009
Voices Member answered:
Pat,

The Banks/Gov have created sites to give the public access to the information on the REO/Foreclosures they have listed for sale and the sites also have all the info on the bid/purchase process. Sites like these.. http://www.pasreo.com/pasreo/public/propertySearch.do

http://reosearch.fanniemae.com/reosearch/ ... http://www.mcbreo.com/st_utmain.htm

http://www.wamuproperties.com/ ... http://www.countrywide.com/purchase/f_reo.asp

You can find the links to these sites and much more here... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ... http://www.biggerpockets.com/bank-reo.html

Tax sale info for Salt Lake County if you're interested ... http://www.slcoaud.org/aspx/Tax/taxsale/taxsale.aspx

For the other counties in Utah ... http://publicrecords.onlinesearches.com/Utah-Foreclosures-and-Tax-Lien-Sales.htm

A good search engine for finding public records... http://publicrecords.onlinesearches.com/

Auctions...Remember Due Diligence ... http://www.utahrea.com/
http://www.propertyauction.com/Residential-Real-Estate-Auctions-in-UTAH.cfm
http://www.williamsauction.com/Search/searchresults.aspx?status=active&state=UT&categoryid=1&statusid=1&p=1.2

Good hunting, Dunes
... more
0 votes 8 answers Share Flag
Thu Jun 18, 2009
Mary Starkey answered:
That is not how it is in Ohio. All homes delinquent of taxes as well as those that are foreclosed due to mortgages have to be sold at a sheriff's sale through the county sheriff. The starting bid is set at least 2/3 of the appraisel value. You may be able to purchase a property for a good deal but usually not for just the amount of taxes. Search for the Hamilton county sheriff's website for those coming up for sale.
HUD has a website in which you can search for foreclosed homes through them. It is www.nhmsi.com. There are some good prices there but you will have to have an agent bid online for you.
... more
0 votes 5 answers Share Flag
Mon Jun 15, 2009
Robert Spinosa answered:
Tina,

The Notice of Default (NOD) is a public record, and that's the first step in the foreclosure process. That would be what would tip you off, and you could then follow these properties through the process and ultimately to auction --- if they go that way.

As for access to NOD records in a manageable form, I would recommend that you align yourself with a good Realtor or title/escrow officer as they will greatly assist your research. If you would like referrals, feel free to get in touch.

Thank you,

Rob Spinosa
rspinosa@mortgagemasterinc.com
... more
0 votes 8 answers Share Flag
Fri Aug 20, 2010
Mark Anthony Ruiz answered:
All the informtion that you are looking for is at your disposal as it is public record at the county recorders office. However, realtors establish relationships with title reps who can allow access through the web to easily find thei nformation that is more than just the basic. ... more
0 votes 6 answers Share Flag
Wed Dec 1, 2010
Voices Member answered:
Karen, I thinking that since you are looking to invest that maybe you might be doing comparables with other close by areas ect.. Here's a few things if you're not familiar with that might help.

Rental Comparables.... http://www.zilpy.com/US/California/Contra_Costa_County/Pinole/Rentals/
http://www.zilpy.com/US/California/Contra_Costa_County/Hercules/Rentals/

Tax Sales ... http://www.sco.ca.gov/ardtax_public_auction.html
http://www.co.contra-costa.ca.us/index.aspx?NID=586

Market info for Bay Area/ ... Check this out closely if you haven't seen it before, Lot's of Info.
http://www.sfgate.com/data/
http://www.dqnews.com/Charts/Monthly-Charts/SF-Chronicle-Charts/ZIPSFC.aspx

You might like to browse through the Bank/Gov. (REO/Foreclosure sites) property info and bid/purchase info. Sites like these... http://www.wamuproperties.com/ ... http://www.pasreo.com/pasreo/public/propertySearch.do ... http://www.homesales.gov/homesales/mainAction.do

You can find the links to all the Bank/Gov sites and more here... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ... http://www.biggerpockets.com/bank-reo.html

Good hunting, Dunes
... more
0 votes 4 answers Share Flag
Mon Jun 8, 2009
Micki O'Toole answered:
Dear Stwitch,
This is a good question. My guess is that they countered your closing date in order to be more realistic. Closing a loan is currently taking anywhere from 45-60 days and sometimes longer. If you are a cash buyer then I would say no it is definately not normal.
A longer escrow time will prevent per diem charges from incurring due to missed closing dates, so welcome the extended time and if your loan closes earlier, there should be no reason not to be able to close earlier.
Hope this helps.

Micki
... more
0 votes 1 answer Share Flag
Fri Jun 5, 2009
Mike Jaquish answered:
Donna,

No additional fees.
Often, however, the home needs a great deal more work than similar homes that are not foreclosures.

That can affect the real value of the deal.
0 votes 9 answers Share Flag
Mon Aug 16, 2010
Dan Ross answered:
Buying a foreclosure is not a bad thing in and of itself. After all, it is still a house. The key is to understand the differences between buying from a homeowner, a homeowner in the process of being foreclosed on, a foreclosure auction, and a bank owned process. Each sale type has its own processes and potential pitfalls, as well as potential up-sides. You need an agent th is familiar with all of these and can advise you of the ramifications of each.
You need to evaluate each deal on its own merits. You also need to consider the present condition of the property you look at, and what issues you might have with a lender. Mortgages on properties that are not in livable condition are trickier.
You said you nave an agent. If you have signed a buyer/broker contract, then you are bound to that agent for the duration of the terms you agreed to. If you feel that your agent is not knowledgeable enough to provide the service you require, speak to his/her broker about another having another agent assigned to you, or releasing you from the contract.
I hope this helps, and good luck.
... more
0 votes 8 answers Share Flag
Wed Jun 3, 2009
ShondaCampanaro answered:
Buying a foreclosure doesn't take any special requirments. The only difference is that it's bank owned and the bank will not typically make any repairs or provide the survey. It's "as is". You would still have an inspection contingency though.

All you need is a pre-approval letter from your lender
A binder deposit and an agent to write the offer for you.
... more
0 votes 3 answers Share Flag
Tue Jun 2, 2009
Alina Larrubia-Estrada answered:
Your first step is to get a pre-approval from a Lender (in writing). Notice I said pre-approval and not preq-qualification. A pre-approval will allow you to make a cash offer on any property and reduce the time/risks involved otherwise. The written letter is valid for 60-90 days. Do not make any large purchases on your credit cards, or charge during your search time as it will lower your scores.

Once you have the pre-approval you can search for an Agent who specializes in your area of choice.
Good Luck!
... more
0 votes 3 answers Share Flag
Tue Jun 2, 2009
Christian Bohyn answered:
Karen,

I suggest that you call the banks and lenders.
Some of them even have a section on their website that offers them.
That's my best bet, I hope it helps,
Happy Hunting!

Christian Bohyn ... more
0 votes 2 answers Share Flag
Tue Jun 2, 2009
Stew Keene answered:
Susan,

If you simply want to look at what is for sale, contact a local area Realtor in Yuma and they can send you a list of foreclosed homes to view in your e mail in box with a link to open up the search.

Are there any YUMA Realtor's out there that can help this person??!!

Stew Keene
Signature Realty Group
... more
0 votes 4 answers Share Flag
Thu Sep 10, 2009
Voices Member answered:
Kye, The Banks and the Government have sites they created to provide you that information (REO/Foreclosure). Sites like these ... http://hud2.towerauction.net/CA.htm
http://reosearch.fanniemae.com/reosearch/ ... http://www.countrywide.com/purchase/f_reo.asp

http://www.wamuproperties.com/ ... http://www.pasreo.com/pasreo/public/propertySearch.do
These sites also contain all the information for the purchase/bid process.

You can find the links to these sites here... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp ... http://www.biggerpockets.com/ba

For Tax sales in CA... http://www.sco.ca.gov/ardtax_public_auction.html
http://ttc.lacounty.gov/Proptax/auction_message.htm

Enjoy, Dunes
... more
0 votes 2 answers Share Flag
Mon Jun 1, 2009
Pam Simpson answered:
You need to be able to qualify for a loan to purchase the home, just like any other non-foreclosure home. If the home needs lots of repairs or certain kinds of repairs, it may require special financing like a rehab loan (FHA 203K). Please ask a local REALTOR or lender. ... more
0 votes 2 answers Share Flag
Tue Jun 2, 2009
Mary Ann Lemon answered:
Banks are pretty tight about their foreclosure lists. As a realtor, upon several occasions I get a lsit of foreclosed homes sent to me via e-mail in my local area. The list of foreclosed homes that advertise for a small fee usually are over priced. It's best to talk to an active realtor in your area. They should be able to look up the foreclosed homes on the multiple listing site. Good luck. ... more
0 votes 3 answers Share Flag
Mon Jun 1, 2009
Genevieve Ramachandran answered:
Hi Shonda,

The first step is to identify how much you want to spend. Get preapproved from your bank or lender or consult a good mortgage broker. Then you know how much house you can afford. Don't let anyone intimidate you. This is probably the biggest investment you ever make, so ask all the questions you want.

Find a Realtor you are comfortable with. Someone you feel will look out for your best interests. Stay in the driver's seat. Make note of everything you like and dislike in a property. Identify the area and what type of property you would like to own.

Ask questions of your Realtor and Trulia whenever you need to.
Here are some websites to check out.

http://www.kiplinger.com/columns/starting/archive/2008/st102…

http://www.federalhousingtaxcredit.com/

http://www.irs.gov/newsroom/article/0,,id=204671,00.html?portlet=7

http://www.irs.gov/newsroom/article/0,,id=206291,00.html

Hope you find this helpful.

Good Luck!!!!!

Genevieve Ramachandran
pgrealty@hotmail.com
800-819-2788
941-268-1511
www.puntagordarealty.com
... more
0 votes 4 answers Share Flag
Tue Apr 13, 2010
Dave Edwards answered:
There are some websites that provide foreclosure listings, but the easiest way should be to contact a professional agent who knows the area and ask about foreclosures.
0 votes 4 answers Share Flag
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