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Foreclosure in 46241 : Real Estate Advice

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  • Local Info2
  • Home Buying2
  • Home Selling0
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Activity 25
Mon Aug 6, 2012
Michael Weaver answered:
Everything requires a cc these days. It cannot use it until you give your permission, but they would want to have it in file to make it simple for you to choose to use their "pay services". Just remembering back when I signed up, but things like eBay, and iTunes were the same way. Hope that helps! ... more
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Tue Jun 12, 2012
Suzanne MacDowell answered:
The banks are just overwhelmed with all the foreclosure activity and, for reasons that escape most of us, they don't seem to be in any hurry to foreclose on these homes and get the bad assets off their books. I don't know if there is anything that can be done to help you. This is the second time I've heard this same story here on Trulia and it's a shame. I just don't know what can be done. You could try talking to an attorney. Otherwise you will have to wait another two years (three years from the date the home was foreclosed on) to buy another home. I am so sorry this happened to you, I really do wish there was something that could be done to help. ... more
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Thu May 24, 2012
Mallorie Wilson answered:
Good Afternoon. Are you inquiring about this property with interest to purchase it or just looking for information on the status of this property? I pulled this property on our MLS and discovered there are no current or past listings online of this property. (This is based off as far back as our system goes). My recommendation is to look into obtaining a sheriff sale auction list for Marion County. This will answer your question as to whether this home is set to go for auction, at least for the up-and-coming auction date of 6/20/2012. I hope this helps answer your question ... more
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Thu Apr 18, 2013
Peter Knight answered:
You can provide a deed-in-lieu, or initiate a short sale. I'm an expert in negotiating short sales - so please contact me. Peter Knight,, (317) 529-4178
0 votes 6 answers Share Flag
Thu May 24, 2012
Sally Grenier answered:
Your best bet is to find a local Realtor to work for you as a Buyer's Agent. He/she will have access to the local MLS system and can search properties specific to your needs. Regarding a house that's boarded up -- ask your agent to look into it, and see if it's on the market. Just because you see a boarded up house doesn't mean it's available for sale. Almost all bank owned & foreclosed properties will be in the some point. It can take awhile for homes to go through the foreclosure process. Again, a REALTOR will able to help you find what you're looking for. Good luck! ... more
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Mon Dec 27, 2010
Ruth and Perry Mistry answered:
Hi Nobelkt:

Good luck.
0 votes 4 answers Share Flag
Tue Apr 5, 2011
Heather Fitzgerald answered:
If it is a preforeclosure, the larger banks wait until it is an REO property. Has it been foreclosed on for sure?

If not, you would need to find the owner.

Are there winterization stickers yet on the property? If so, the company that did that might be able to tell you who the bank is that they winterized the property for. If it is a small bank, then you might be able to get or have an agent get more info for you. ... more
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Fri Oct 29, 2010
Tom Michalic answered:
I may be able to help. Call me 317-259-7286. If the home is near Indianapolis.

0 votes 8 answers Share Flag
Mon May 10, 2010
Paula Henry answered:
Hi Matt -

Give me a call and we can talk.

Paula Henry
0 votes 4 answers Share Flag
Fri Oct 29, 2010
Rick Scherer and Kevin Reder answered:
I would definitely seek the advice of a real estate attorney. There is a certain sequence of legal actions that must take place in a very specific order. More than likely, you will need an attorney that specializes in real estate and foreclosure law, as well as a bankrupcy attorney. These are legal questions that are beyond the scope of a real estate licensee and must be addressed by legal counsel. ... more
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Sat Jan 23, 2010
Jim Thomas answered:
Before May 20, 2009, most renters lost their leases upon foreclosure. The rule in most states was that if the mortgage was recorded before the lease was signed, a foreclosure wiped out the lease (this rule is known as "first in time, first in right"). Because most leases last no longer than a year, it was all too common for the mortgage to predate the lease and destroy it upon foreclosure.

These rules changed dramatically on May 20, 2009, when President Obama signed the "Protecting Tenants at Foreclosure Act of 2009." This legislation provided that leases would survive a foreclosure -- meaning the tenant could stay at least until the end of the lease, and that month-to-month tenants would be entitled to 90 days' notice before having to move out (this notice period is longer than any state's non-foreclosure notice period, a real boon to tenants).

An exception was carved out for the buyer who intends to live on the property -- this buyer may terminate a lease with 90 days' notice. Importantly, the law provides that any state legislation that is more generous to tenants will not be preempted by the federal law. These protections apply to Section 8 tenants, too.

The bottom line is you have 90 days to move.
... more
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Mon Nov 23, 2009
Jim Walker answered:
An attorney fresh out of law school is an Attorney . An agent with twenty years experience is just a saleswoman.
Knowledge and experience must bow down to the mighty diploma.
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Wed Oct 28, 2009
Chris Castetter answered:
I think you should advise a real estate attorney who practices law in NC and is familiar with this type of situation. Good luck.
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Thu Jul 30, 2009
Nina Williams answered:
Hello, is this your primary home or is it an investment home? If it is the latter, why not consider renting it out. If you value your credit rating foreclosure should not be an option. If you are in a financial bind consider a short sale- of course you would need to prove financial distress. A short sale would not hurt your credit as bad as a forecloser would. I hope this helps.
Nina Mayberry
... more
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Sun Jul 5, 2009
Hannah Fliegel answered:
Hi H,

I would suggest you have your realtor drop the price and work through a short sale. Your realtor will know how to negotiate this with the lender that the property is vacant, etc. Drop the price aggressively to get a good offer to stick and hopefully you can sell to that buyer. Good luck! ... more
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Wed Jun 24, 2009
Pamela Roesch answered:
You can go to your local auditor page online and look up real property tax info. It will list the owner of the property, which is probably a bank. You can try to contact the bank, though that isn't often very successful. But soon some real estate office will list it, so keep your eye on it. ... more
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Wed Jun 17, 2009
Chanda Barrick answered:
This property is pending and is in between Post and Mitthoeffer just off 38th street.
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Tue Oct 6, 2009
Hannah Fliegel answered:
Hi Pebbles,

The answer depends on what type of loan you have either a recourse or a non-recourse loan and how your state forecloses either judicial foreclosure or non-judicial foreclosure. If your lender foreclosure by judicial foreclosure and gets a deficiency judgment against you then you might have your other assets sought after and loose your primary home. Here is a link to a very good foreclosure prevention workshop on line video. Good luck!
... more
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Wed Jun 3, 2009
Jeff Howell answered:
If you are just in the beginning of the process- having missed a couple of payments... it should take a number of months before the judgement actually happens. And then, you should still receive prior notice before they would lock it up.
Have you considered doing a 'short-sale'? I could refer you to an agent in your area to discuss this with... would minimize damage to your credit.

Jeff Howell
... more
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Tue May 19, 2009
Chris Mabry SRS,e-PRO answered:
Hello Daniel,
I'm sorry to hear about your situation. It's a really tough time right now and a lot of people are in the same situation. If you say that the mortgage company has just now started foreclosure proceedings, then in all likleyhood you have a few months at least before you have to be out. The best thing to do is get in touch with your mortgage company and/or the trustee attorney. I know it's a really bad feeling living in a home that you are not paying for, especially when you don't know how long you will have to find a new place. But, make some calls and direct these questions to the people who are actually making the decisions. Some mortage companies are so backed up right now that the entire process of foreclosure actually takes months. I'm not incouraging you to be a "squatter" but if you can take another month or to to pack your things, save some money and find a suitable place to rent, then at least you have the peace of mind. Your mortage company will eventually serve a trustee's sale notice on your front door. There will be a date set to auction your home. Most of the time, you will have until a few weeks after this to actually vacate. BUT-every company is different. Make sure you contact your mortage company, explain the situation to them, let them know that you have a family and they should give you some kind of a timeframe. Don't be afraid of the "big, bad wolf". At this point you have nothing to lose by communicating with them. I hope this helps. Good luck to you and your family. ... more
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