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Foreclosure in 75380 : Real Estate Advice

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Activity 63
Sun Apr 7, 2013
John Juarez answered:
If the 1st lien holder forecloses the 2nd and other junior lien holders lose their collateral…the house. The debts are not wiped out or forgiven. Depending upon the law in your state, the 2nd lien holder may continue to take appropriate action to collect on the debt.

Check with an attorney for the law in your state and how it applies to your personal circumstances.
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0 votes 4 answers Share Flag
Wed Mar 27, 2013
Michael Brownstead answered:
Hello Eric, I think it Is best to consult a real estate attorney at this point in time. I wish you the very best.
0 votes 9 answers Share Flag
Mon Mar 18, 2013
Kim Nwachukwu answered:
No way for anyone here to know, and that one isn't even foreclosed upon at this point. It may or may not foreclose, it may or may not ever be on the market. You may be better served by working directly with a Realtor who can help you find homes in that area that are available for purchase - this one at this point is a ghost in the wind. ... more
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Fri Jun 7, 2013
Kenneth "Kenny" Bebensee answered:
Thu Dec 20, 2012
Kenneth "Kenny" Bebensee answered:
This website makes money by having people pay to access the listings and they are most likely unavailable. Contact 1 Realtor to assist you.

0 votes 2 answers Share Flag
Fri Nov 2, 2012
Christopher Lefebvre answered:
Keep trying to contact your lender. You just need to find the correct contact. Also try this website for more information.
0 votes 10 answers Share Flag
Tue Sep 11, 2012
Suzanne MacDowell answered:
The property tax records should indicate the current owner and if it was foreclosed on, that would be the bank. You can call your local property tax official and ask and they have to tell you because the information is considered to be in the public domain. However, the bank will not talk to individual buyers. If you want to purchase this home you will need a local realtor to keep an eye out and tell you when it comes on the market through another realtor. Banks only sell individual homes through realtors. ... more
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Fri Jun 1, 2012
Shaukatali Kadibhai answered:
Contact the Listing agent.
If there are no signs posted on the house yet than you just need to wait.
Good Luck.
0 votes 8 answers Share Flag
Wed May 30, 2012
Kenneth "Kenny" Bebensee answered:
Just pick a Realtor, give them your criteria needed (size, price, etc.) and get going.

Good luck.

0 votes 6 answers Share Flag
Fri Nov 2, 2012
Brett Schumann answered:
Hi Antonio,
Most of the homes on the market are foreclosures. The banks price them low to sell fast. Hence why everything is under contract quickly.

My brokerage specializes in REO/Foreclosed sales. I can help you find homes before the competition. Shoot me an e-mail if you would like my help.

Brett Schumann
Associate Broker
StarCrest Realty
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0 votes 26 answers Share Flag
Tue Apr 3, 2012
Tim Moore answered:
Probably no. Why? Because the current owner is the only one that can sell it because it is their house, but they owe a lot on it and are not making payments. The bank, that is owed money on it and probably a lot more than the loan because the owner is not making payments, can't sell it to you because it is not theirs. The trustee sale aka the foreclosure auction converts the property back to the lender that is owed money on it. NOW it belongs to them and NOW they can sell it. ... more
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Wed May 16, 2012
Kevin D. Brown answered:
I myself am an investor, and most of client's are as well. Give me a call and we can chat.

Kevin D. Brown
Owner/ KDB Properties
0 votes 8 answers Share Flag
Wed Feb 22, 2012
Anna M Brocco answered:
Be aware that a mortgage pre-approval letter is required in order to determine your price range and for any offers to be taken seriously, therefore if you haven't done so yet, visit with any licensed loan officer to determine mortgage qualification. The downpayment will depend on the type of loan; generally FHA requires a minimum of 3.5% down, and most lenders prefer a 640 credit score, however there be some willing to work with a less.... ... more
0 votes 1 answer Share Flag
Sun Aug 23, 2015
Helen Karuba answered:
There are a couple of ways. You can buy it off the court house steps at foreclosure auction. You can pick it up just before it hits the sale, you can bid on line, you can buy one from a wholesaler...lots of ways! The best way to buy a foreclosure, and know you are getting a great deal, is through an agent who works investment properties. I work a lot of pre-foreclosure, short sale, and REO properties. Let me know if I can be of service.

Helen Karuba
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0 votes 11 answers Share Flag
Tue Apr 19, 2016
Kenneth "Kenny" Bebensee answered:
That is the risk you take when buying a short sale or foreclosure. They have disclosures that you signed away your right and them having to sell to you. They can accept and sell to whomever they want. Contract or not. I usually tell my client's that we need to keep looking and pass on any short sale or foreclosure for that reason.


Talk with your Realtor.

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0 votes 24 answers Share Flag
Wed Jan 18, 2012
Ron Thomas answered:
When a Foreclosure occurs, the Bank wants to take Title to the property;
If there is an outstanding LIEN, there will be a "cloud" on the Title.
The Bank had to have done something about that; it will be more of a problem for the Bank that it will be for you. They will not be able to sell the house with that "cloud" on the Title.
You live in a state with Non-Recourse legislation; meaning that the Banks cannot come after you for the Deficiency.
So between the two things, you should be able to just sit tight and let things work themselves out.
Good luck and may God bless
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Fri Nov 4, 2011
Terry McCarley answered:
0 votes 7 answers Share Flag
Sun May 22, 2011
Brian Rayl answered:
I'm sorry that you have not received any replies to your question, but the reason for this is that it is next to impossible to do without violating some type of rule.

Give me a call at 972-949-4222 and I'll give you an "off the record" answer.

Brian Rayl, REALTOR®
Keller Williams Elite - Park Cities
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0 votes 1 answer Share Flag
Mon May 16, 2011
Marie Souza Team answered:
Is there contact info on the HOA website? If you are buying a condo, then the owner should be able to provide you with the HOA contact.
The Marie Souza Team - Top Selling on Cape Cod
Cape Cod Real Estate Services
Phone: 508-790-2000
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0 votes 3 answers Share Flag
Sat Apr 2, 2011
Bruce Lynn answered:

This is a lawyer question, but likely yes.
It's usually the other way around.
How did you get him on title and not on the loan? That's a nice trick...perhaps.
It does happen, but many lenders don't like this.
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