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Foreclosure : Nationwide Real Estate Advice

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Activity 17,069
Thu Oct 12, 2017
Nick & Trudy Vandekar answered:
Banks will accept reasonable offers. But you usually need to pay both sides of transfer tax and u and o permits plus any repairs. Short sales are moving a little quicker. Some of the issues are condition of home. ... more
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Fri May 31, 2013
Steve Quintana answered:
1. check your title policy for possession coverage.

2. small claims courts usually handle actions for this kind of writ.
0 votes 1 answer Share Flag
Thu Apr 18, 2013
?? are you describing the fact that your present WA condo is being foreclosed on ?? can you clarify?
0 votes 6 answers Share Flag
Sun Apr 28, 2013
Cristina Vanthul answered:
Hi John,

I'm not too sure what your question is, but yes there are a few foreclosure condos in the Dunedin/Palm Harbor area that were acquired through foreclosure. There are some up in Tarpon Springs as well. ... more
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Wed Apr 17, 2013
Katherine Racine answered:
The house doen the road just might be outside the city limits. There are several communities in Louisiana that are scheduled to be excluded from the program due to increased population. Ask your loan officer to verify the address. If its eligible go for it ... more
0 votes 2 answers Share Flag
Wed Jan 8, 2014
Jackie Core-cedeno answered:
Hello Courtey!

The only two units that are available are the following:

Unit 1204 that is a REO or Bank Owned and is listed for 229k
Unit 1011 that is a traditional sale/Owner and is listed for 299k

Please let me know if you would like more information.
thank you!
La Rosa Realty!
... more
0 votes 8 answers Share Flag
Wed Jan 14, 2015
John Juarez answered:
If you are asking whether or not we think that an adverse report should appear on your credit report, I have a question for you. What difference will our opinion make? You have been sailing some pretty turbulent seas and I don’t think that an uninformed opinion based on the information that you provided is going to be of much value to you. ... more
0 votes 10 answers Share Flag
Tue Apr 16, 2013
Missy Caulk answered:
Hi J, it is most definitely a bid. When more than one offer comes in the banks come back with "highest and best". They will do this if the property has 1 other bid or 20.

One thing to keep in mind is that the bank has already done their appraisal from a local agent, called a BPO. (Broker Price Opinion). In Ann Arbor and most of Washtenaw County the homes are selling AT or ABOVE asking price.

Let me know if you further questions.

... more
0 votes 2 answers Share Flag
Tue Apr 16, 2013
Randy Elliott answered:
What's the address of the property? We can check for you.

If our records aren't updated yet, then you can check with the County Recorder's office.
0 votes 2 answers Share Flag
Tue Apr 16, 2013
Pebble Singha answered:
Hello Ed,
Interesting question you have posted here. I am a bit confused by your question. More specific details are needed without assuming things here. Depends on who is the owner here? Are you thinking the actual owner or are you thinking of a Bank foreclosing ( This is a common mistake people make, so that is why I am asking). Assuming you have been making payments but your Landlord has not been making his payments. Now the Bank or a lien holder wants to foreclose and the new owner will want to someone else?

First of all, Do you have a written agreement with your current Landlord regarding the Rent to Own? Obviously there is more to this story. Here is what I recommend to you, get off of here and Contact a Real Estate Attorney immediately. Realtors cannot give you legal or Financial advice. You may have rights. Email me on what the Attorney advises you or if you need a referral for a Real Estate Attorney.

I sincerely Wish you luck.
Pebble Singha
Head Of Short Sales Department KW Encino.
... more
0 votes 7 answers Share Flag
Tue Apr 16, 2013
Antonio Vega-Pacheco answered:
Realty Trac strikes again:
Look at the posting for that home again and find the logo for Realty Trac (black and red). Most times when you see that logo on any listing it means the price you see is NOT a sale price, and the home is probably not for sale as of yet. It is just a posting of what the Bank/Lender had to pay the courts to document regaining custody of the home when they foreclosed on it (transfer value); and/or an announcement that the foreclosure process has just begun (Lis Pendens). Next that Bank/Lender will take several months to put the property on the market at "Market Value for the specific community" and it will be listed/advertised as a Foreclosure or an REO. Was this answer helpful? If so please click on the "thumbs up" above.

Tony Vega
La Rosa Realty
... more
0 votes 6 answers Share Flag
Tue Apr 16, 2013
Jake Heelan answered:
If you have a valid lease, the bank must respect that to the end of the lease. If you don't have a lease they have to give you 90 days.

After the foreclosure sale, you will be contacted by the broker assigned to market the property, the bank or both regarding your status. You need to have a copy of your lease available, and if you will begin paying your rent to the bank through their property management company.

Given that you have nearly a year left, the bank will be willing to negotiate with you a payment (Relocation Assistance or Cash for Keys). Even if it were only the 90 days, they would be willing to negotiate. Their desire is to get control of the property in as short a period of time (30 days) and in as good condition as possible, so the spread between your lease term and 30 days gives you a good deal of leverage.

I am reluctant to give more specific insight in such a public forum, but if you would like to contact me at I would be happy to have a conversation with you about what to expect.
... more
0 votes 7 answers Share Flag
Tue Apr 16, 2013
James Gordon ABR SFR SRS answered:
That property is not being offered for ssale on this site. Not all properties that show on Trulia are offered for sale! You may want to contact a local real estate attorney to investigate about sherrriff auctions. You may also want them to check into any forclosure action on the property and check with a Realtor0174 aout having the owner do a short sale. ... more
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Wed May 22, 2013
Rick Janson answered:
A) Consult an attorney who knows real estate law, like Daniel Markofsky at Feldman-Nagel. B) Repeat.
0 votes 12 answers Share Flag
Wed Jul 10, 2013
Junaid Bashir answered:

What area are you looking to buy the foreclosure?


Junaid Bashir / Realtor
0 votes 5 answers Share Flag
Tue Apr 16, 2013
Minna Reid answered:
You may want to consider a short sale, loan modification or deed in lie - all of which have less impact to your life than a foreclosure.
0 votes 4 answers Share Flag
Mon Apr 15, 2013
tapdancer52 answered:
Actually the Foreclosure is in Coos County.
0 votes 2 answers Share Flag
Mon Apr 15, 2013
Remax Interactive answered:
One of the legal terms that homeowners in foreclosure often come across is lis pendens. In most cases of a homeowner behind on the mortgage payments, the lender's attorneys will file the initial foreclosure lawsuit with the court and a lis pendens will be sent to the county clerk or recorder's office to indicate that a particular property is in the process of a pending litigation. The term lis pendens is Latin for "lawsuit pending," and the lawsuit that it is referring to is the legal process of foreclosure. The most commonly used legal mechanism that would stop foreclosure is filing bankruptcy with the court, and even this only puts the process on hold while the creditor and debtor are coming to an agreement to negotiate a settlement of the debt. If a lis pendens is filed with the county recorder against a piece of property, this indicates that the house is already in some stage of the foreclosure process. The homeowners are no longer in the preforeclosure stage, or merely behind in payments. At this point, foreclosure can not be prevented, as it is already being pursued by the lender and its attorneys -- it must be stopped, and homeowners need to begin putting together a realistic plan and researching various ways to stop foreclosure, such as a mortgage modification, repayment plan, selling the house, or a foreclosure bailout loan.
I hope this answered your question.
... more
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Sun Apr 14, 2013
Alain Picard answered:
If your question is about buying a home I would talk to a lender and have them sit down with you and go over what you need to do to get yourself where you need to be in order to buy as far as credit and so on. Start saving while you work on your credit and you could be ready to buy before you know it. Good Luck ... more
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