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Foreclosure in 19122 : Real Estate Advice

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  • Local Info4
  • Home Buying6
  • Home Selling2
  • Market Conditions1

Activity 92
Mon Oct 24, 2011
Barbara Smith answered:
Shawn,

If you email me the address, I can have a look at the public records & do some research for you.

Barbara Smith
Weichert Realtors
Licensed NJ & PA
Cell/Text: 609-980-7593
email: BarbSmith321@comcast.net
... more
0 votes 2 answers Share Flag
Sun Oct 2, 2011
Michael Solomon answered:
Call me at 215 421 2121 i can get you into any foreclosure that is listed


Michael Solomon
Realty Mark
0 votes 2 answers Share Flag
Sun Aug 28, 2011
Phil Rotondo answered:
Easy! Ask a local real estate agent to provide you a current active list. And it's free!!
0 votes 6 answers Share Flag
Sat Aug 20, 2011
Fred Glick answered:
In order for you to get good financing, the only way to cure is take the risk and install the carpet in the house so that you can get a mortgage.

This is the way that banks do business on foreclosures. They just don't have time, patience or want to pay the money.

The only other way is to do a conventional loan with a commercial bank, but you will never get a good interest rate 30 year fixed.

Good luck!

Fred
... more
0 votes 13 answers Share Flag
Tue Aug 23, 2011
Bill Eckler answered:
JB,

There is often much that is taken into consideration between the $9,000 and $39,000 sale amounts. At auction there are no assurances that come with the property. This purchase may include a tenant/owner that requires eviction, the initial loan amount, liens on the property etc. that must be satisfied for the bank to dispose of the property.

Their $39,000 asking price is one that should also be a justifiable amount based on recent sales of similar property for this location.

The lender may be willing to move a bit on their asking price but for a recently listed property look for them to expect an amount close to or above their asking price.

Hope this is helpful.

Bill
... more
0 votes 11 answers Share Flag
Fri May 13, 2011
Bruce Lang answered:
i'd suggest you contact the sheffifs office to get all the info you need
0 votes 0 Answers Share Flag
Fri Apr 1, 2011
Bruce Lang answered:
Speak to a reputable lender. FHA or home affordable programs exist. Chechen the FHA site or a good lender for more info
0 votes 2 answers Share Flag
Tue Mar 29, 2011
Yve Banks answered:
Please give me a call or email me with more information so I can help you.

Yve Banks
REMAX Specialists
267-975-0372 Cell
realtorbanks@gmail.com
0 votes 1 answer Share Flag
Sun Apr 24, 2011
Brek Schutten answered:
Not knowing anything about your area or the homes you are talking about, I would say that you should be able to get $39k for your houses if you have a good/committed tenant for them. It also depends on the quality of your work (which I don't doubt to be superb) and the area and specifications of the house. Using strictly an income approach to analyzing the value of your properties, you should be able to sell them pretty easily. Steps you should take to figure out the value of your property:
1.) Figure out your annual income from the property.
2.) Subtract annual expenses from the property to get your net operating income.
3.) Divide by potential purchase price to get the potential capitalization rate that investors will look at when purchasing an income property.
4.) Investors will look at the average cap rate of your area, and compare it to what the cap rate would be if they bought your property. If your cap rate is more advantageous than the average, they will be likely to buy your property.
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Tue Feb 15, 2011
Bruce Lang answered:
You can call Philadelphia sheriff or you can search the court docket at phil a.gov.
0 votes 0 Answers Share Flag
Tue Dec 7, 2010
Anna M Brocco answered:
For information as it relates to your situation, do consult with any qualified loan officer--generally, a co borrower is an additional borrower, whose income is used as a qualifying factor, is also on the title; whereas a co-signer is not on the title, but guarantees payment if the borrower defaults--again consult with your loan officer. ... more
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Sat Dec 25, 2010
Anna M Brocco answered:
Do contact/consult with an attorney who specializes in real estate--if you cannot afford one, contact your local Legal Aid Society and or the local Bar Association, for a pro bono attorney--free--then go from there. ... more
0 votes 6 answers Share Flag
Sun Jan 30, 2011
Ian A. Wolf answered:
You do need a real estate attorney to verify this, however a trust is simply an entity to hold a property in. Unless recent laws have changed things, to the best of my actual knowledge you can buy in an entity you want(LLC, C corp, S corp, etc) as long as you do it properly and use cash or the lender is ok with it. You may not be able to use a land trust if you are getting a mortgage, but I don't believe you will have any issues using trusts. In fac,t I use them to purchase fix and sell properties in multiple state with no issues under the proper guidance of competent attorneys. The key is to have good legal counsel, because trusts are unique and if they are not set up properly you may have issues. Hope that helps. ... more
0 votes 5 answers Share Flag
Tue Sep 21, 2010
Renee Porsia answered:
I do handle bank properties. I've been dealing with them for over 10 years now. If you would like to talk, feel free to contact me directly at (215) 669-0589 or feel free to email me at reneeporsia@mac.com.

Renee Porsia
Associate Broker
RE/MAX Action Realty
(215) 669-0589 Direct
(215) 358-1100 Office ask for Renee
www.reneeporsia.wordpress.com
www.reneeporsia.com
... more
0 votes 2 answers Share Flag
Mon Aug 23, 2010
Ron Rovtar answered:
Short sales (which is what this is essentially) can vary from bank to bank. The first thing I would do is talk to a HUD approved foreclosure counselor (http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm), then talk to the bank. This could go more smoothly if you talk to a real estate agent who understands short sales.

Best,
Ron
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0 votes 4 answers Share Flag
Mon Aug 9, 2010
Carol Cei answered:
Hi Texray,

Here are three reasons for that to happen:

1. Many of the houses are actually in "pre-foreclosure" status. Therefore, they are not actual bank-owned and they are not officially on the market
2. Many REO or Bank owned properties are in very poor interior condition, AKA TRASHED. They wouldn't look attractive to buyers
3. Some agents who get these listings are very complascent. They have relationships with banks and get the listings automatically, so they don't have to work very hard to earn business.

I hope that this has helped you. If you have any other questions, just contact me.

Carol Cei
ReMax Action Realty
215-643-9661
CarolCei@ReMax.net
... more
0 votes 6 answers Share Flag
Sat Aug 14, 2010
blaison samuel answered:
If he is not the owner and signed a lease agreement with you acting as owner then that it is fraud, you definitely need to contact an attorney as soon as possible before you move out.
0 votes 9 answers Share Flag
Mon Aug 2, 2010
William Patterson answered:
Take a look in your local Registry of Deeds. You can look things up online there, or you can call.

Cheers,
Bill P.
0 votes 3 answers Share Flag
Sun Jul 18, 2010
Alexander Shulzhenko, ePro answered:
If the bank was not able to get in touch with the owner of the house then yes. This is a complicated matter and the answer depends on the situation. I suggest you get an attorney to stay or postone the sale.


Alexander Shulzhenko
Advance Realty One,

www.eRealtyFind.com
267 738 0886
... more
0 votes 4 answers Share Flag
Thu Dec 2, 2010
Scott Godzyk answered:
It depends if it was sold to another person or purchased by the city itself. Your question would be best if asked to an attorney to protect your rights.
0 votes 3 answers Share Flag
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