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Foreclosure Clean Out Companies All Locations : Nationwide Real Estate Advice

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Activity 359
Showing results for Foreclosure Clean Out Companies [Clear search]
Wed Sep 28, 2011
Fordg answered:
Here is an article that answers most of your questions including finding clients and Fannie Mae guidelines and links
0 votes 2 answers Share Flag
Wed Dec 19, 2012
Ron Thomas answered:
This is one thing that has befuddled us Real Estate Experts:
We don't feel much like experts;
We can't understand the wisdom of this:

The Government doesn't want them to hold Real Estate;
They can't be making any money by holding them,
They are not collecting rent,
Many houses are vandalized
They would have to insure them, at least with a "blanket" policy,

Maybe the error in our thinking is that there is some WISDOM behind this.
... more
0 votes 8 answers Share Flag
Sun Sep 4, 2011
Phil Rotondo answered:
Doesn't sound like a happy process so far. Sorry.
As a suggestion you might have to go up the food chain and contact: (a) the Broker for your Realtor and (b) your loan rep manager. ... more
0 votes 9 answers Share Flag
Fri Dec 14, 2012
Tim Moore answered:
If they have been foreclosed they are then owned by someone. You would need to contact that owner who bought it after the foreclosure auction, often it is the bank who had the loan that now owns it. ... more
0 votes 7 answers Share Flag
Sat Apr 7, 2012
Darrell Hess answered:
You should maybe think about a different career path. Most of the large accounts are already being serviced by companies with contracts. If you are doing this under your own name and not a corporation or LLC with at least 3 employes it may be hard applying for the job bids with Freddie Mac and Fannie Mae. You may be a bit late to the party in my honest opinion. I will let you know this however, this is not your typical clean up a house job. The homes are freaking disgusting filled with trash and debris often littered with rodents and insects of all sorts. Dead animals, human waste, and rotten garbage are almost always present and the smell that is in the air will choke you out. If you can put up with this the pay is decent, but with so many other opportunities to make some hard earn money out there why would you want to put up with this? ... more
0 votes 1 answer Share Flag
Mon Oct 15, 2012
Valerie Cerrone answered:
A short sale is when the selling price is negotiated between seller, buyer and the bank, and the bank agrees to take less than the actual mortgage pay-off amount.

Typically, a buyer has to expect a protracted time to negotiate and close a short sale, since the permission is needed from the lender to proceed. That said, they can work and result in good value for the buyer, and save the seller from potential foreclosure. ... more
0 votes 36 answers Share Flag
Fri May 6, 2016
Tim Moore answered:
Sat Feb 18, 2012
Ron Thomas answered:
The two most critical components, PRICE and INTEREST RATES are extremely low!
Will they go lower?

The deciding factor should be your committment:

Good luck and may God bless
0 votes 145 answers Share Flag
Tue Jul 12, 2011
Don Tepper answered:
It might be. Or it might not be.

Sorry for the ambiguous answer.

I'm a big advocate of lease-options/rent-to-owns. But the conditions have to be right.

Based on the points raised in your question, the answer really depends on whether you're able to clean your credit it up and how long it'll take. For some guidance on that, see a mortgage broker. Get some idea of what's showing up on your credit report and a realistic idea of how long it can take to correct. The next question, logically, is: Can you do it? Are you prepared to take the steps needed to clean up your credit? Remember: At the end of a lease-option, you're going to be going out and getting a conventional mortgage. So, at that point, you'll need good credit.

A few general tips: The lease-option should be for a minimum of 2 years. Perhaps more, if it'll take longer to clean up your credit. (If the mortgage broker estimates 2 years, then go for an option of at least 3 years. You need to build in some extra time both as a security measure and to make sure that the steps you've taken ripple through to your credit report.)

You want an agent familiar with creative financing. Probably one who works with investors--not that you're an investor, but you want an agent who's flexible, open-minded, and creative.

Also, make sure that a lawyer reviews all the documents. Again, you want one who's used to working with investors. There are plenty of so-called real estate lawyers out there who don't know the first thing about lease-options and rent-to-owns. And there are plenty of ways a lawyer can protect you. For instance: (1) By including a clause allowing the extension of the option for an additional year upon payment of a fee from you; (2) By including a clause specifying what happens if the property fails to appraise for the value specified in the option (a number of possibilities there, from reducing the sales price to the appraisal price to extending the option period, and more); (3) By including a clause that will allow you to determine whether the seller is making his mortgage payments on time (you don't want the property you're planning on buying to go into foreclosure), and more.

Start by calling real estate companies in the area you hope to buy. Speak to the agency's broker. Explain what you hope to do. Say that you've been advised (by me) that it's likely that an investor-friendly agent may be best prepared to assist you; what does he think? You'll find that opinions vary widely on rent-to-owns. You may run into a broker who says that he doesn't let his agents do those deals at all. Some don't. That's fine. Just call the next agency on your list.

Finally, here's a link to a blog I wrote on how to find rent-to-own homes. It may be useful to you or to whichever agent you select:

Hope that helps.
... more
0 votes 3 answers Share Flag
Sat Mar 18, 2017
Team Foisy answered:
Hello Janie,

Congratulations on your decision to buy a home! I truly believe we are in a great market for homebuyers!

While I am not familiar with DR Horton in Texas, I can tell you that their homes in the Orlando area are of quality comparable to those of other large production builders. You can take a few steps to protect yourself with regard to this purchase:

1. Hire a qualified, licensed and experienced home inspector. They will typically be able to sniff out potential issues with a home. Also, see if there are other homes which have recently sold in the neighborhood and ask those buyers what their inspections turned up. If there is a well or septic tank on site, it makes sense to have these inspected as well. It may also be required by your lender based on your loan type.
2. Hire a licensed termite/wdo inspector. They will check for any signs of insect and/or fungal damage and wood rot, potentially saving you hundreds-if not thousands-of dollars down the road.
3. Ask the seller to provide you with a home warranty and termite bond, if applicable. Both of these will provide you with some level of protection should any issues arise down the road. They are usually renewable on a yearly basis as well. If the seller will not provide these for you, factor them into your offer price and purchase them at or soon after closing.

As for the resale value, check the comparable sold properties in the neighborhood-that will give you a very good idea of what the market demand, and thus the price, of these homes is. It will also help you decide on an offer price based on the market value for the home.

I hope this helps!
... more
0 votes 91 answers Share Flag
Tue Feb 14, 2012
David Rogoff and Bonnie Chernin answered:
Check first to determine if there is any state or local licensing requirements. Don't start a business without knowing the regulations because fines can easily wipe out any revenues quite quickly.

After that go thru personal contacts and sphere of influence persons. A few business cards and perhaps a Craiglist ad and see where it goes.

Best of luck and G-d bless...

Bonnie Chernin and David Rogoff
Fillmore Real Estate Branch #19
2926 Avenue J
Brooklyn NY 11210
917-593-4068 – David mobile
646-318-5031 – Bonnie mobile – E-mail
... more
0 votes 4 answers Share Flag
Tue Apr 21, 2015
Don Maclary answered:
Wed Jun 8, 2011
David Cooper answered:
John. The actual success of owning in Rent to Own is not very good. Only 2 out of 10 succeed in converting.
I would suggest renting for 2 years, save your money, and get a FHA 3.5% down loan. You will get a better choice of house.

DAVID COOPER Foreclosure and Bank REO's Investor-Las Vegas.35 years experience For freee list
Call +1-7024997037 or check website
... more
0 votes 3 answers Share Flag
Sat Jun 4, 2011
Ken Vasan answered:
There is no way for anyone to tell if a particular house will hit the market or not. The lenders dispose of foreclosed properties in many different ways. Listing a foreclosed home and selling through a local broker is one such way if it goes to bank books. ... more
0 votes 16 answers Share Flag
Thu Jan 19, 2012
Tony McMahon answered:
Doesn't matter if people can't qualify to take advantage of it.
0 votes 86 answers Share Flag
Tue Nov 8, 2011
Roswell Moore, answered:
Hi Ramon,

My advise would to use your VA benefits if you were ever in the military - VA loans allow $0 down. If you have not served in the military, look for a home that will qualify for USDA financing, which also allows USDA financing.

Good luck on your house hunting,

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite and fund, in-house, FHA (w/a 580 score), 203k, VA, USDA, Jumbo, Conventional, loans to Canadians, Australians & other Foreign Nationals, on time. NMLS ID 263779 | AZ BK 0903725
... more
0 votes 62 answers Share Flag
Wed Apr 27, 2011
Antonio answered:
Couldn't get easier than this.....
S. Tampa 33611,33609,33629,33606 depending on your budget.
Area keeps their value, best schools, easy commute to everywhere!

and it comes with all the bells and whistles you mentioned. ... more
0 votes 29 answers Share Flag
Tue Aug 28, 2012
Laura Coffey answered:
Getting a loan mod is very hard and the average loan modification is a $500 reduction in monthly payment. I would look into talking with a short sale Realtor and a Real Estate attorney along with your tax accountant. It never hurts to talk out the best direction to go. ... more
0 votes 15 answers Share Flag
Sun Mar 27, 2011
Anna M Brocco answered:
Much will depend on the individual landlords, but one can consider paying additional security, pre-paying some of the rent, etc.; since you state that you are going to lose your house to foreclosure--have you considered a short sale...either way, do protect yourself and any other assets you may have by consulting with an attorney who specializes in real estate--if you cannot afford one contact your local Legal Aid Society. ... more
0 votes 8 answers Share Flag
Tue Mar 24, 2015
Phil Rotondo answered:
The Sale is subject to Housing and Urban Development Title #24 Part 206 section 25.

Please see
0 votes 14 answers Share Flag
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