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Foreclosure in Dallas : Real Estate Advice

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  • Home Buying861
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Activity 63
Mon Mar 28, 2011
Brian Rayl answered:
There are homes that meet those general requirements, but I would need to get more information from you to zero in on exactly what you need. Give me a call or shoot me an email.

Because it's more than real estate. It's RAYL-Estate!

Brian Rayl, REALTOR, e-PRO, SFR
Keller Williams Elite Park Cities
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Sun Feb 27, 2011
Patterson Rausch Residential answered:

There are programs in place to help folks stay in their home and you might qualify. Give me a call and we can discuss it.

RE/MAX Urban
0 votes 10 answers Share Flag
Tue Mar 8, 2011
Tim Moore answered:
I would suggest contacting a lender in your area. Open the phone book and look under mortgage. Call and speak to a few lenders and they will walk you through the process and ask you the questions needed to answer your question. ... more
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Mon Feb 21, 2011
Bruce Lynn answered:
Hi Rahim,

Here is a link to a few I picked out for you, not knowing what specifically you want.,11543862,11538985
If you give me a call or drop me an email I can set up a search that specifically meets your needs.

Bruce Lynn
Keller Williams Realty
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Tue Nov 2, 2010
Kim Nwachukwu answered:
The HOA can file liens on your property against the fines, and if you do not pay them they have the right to foreclose. If you sell the property the liens will have to be paid out of the sale before title can be transferred to another buyer. If the HOA does foreclose, the foreclosure will be subject to the mortgage lien, which you will still be liable for, and yes, if they do foreclose your credit will be greatly affected. The best course of action is to simply pay your fines and abide by the HOA rules. ... more
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Wed Sep 29, 2010
AV answered:
Mon Sep 27, 2010
Christopher Lefebvre answered:
I would advise that you contact an attorney to discuss your options. Do you have a lease or are you a tenant at will?
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Tue Aug 14, 2012
AV answered:
Wed Aug 18, 2010
T.E. & Naima Sumner answered:
Your question sounds quite odd. Liens are prioritized by their filings and according to their status. The earlier a lien is filed, the higher its priority. The oldest is the most senior. However, government liens take precedence over other types of liens. So, a tax lien takes priority over a mortgage lien, even though the tax lien may have been filed after the mortgage lien.

Your question asks if the holder of a lien filed after a government lien somehow has any rights. The answer is that if a senior lien forecloses, it wipes out all junior liens (except other government liens and liens filed after conveyance). The sheriff sells a property at auction (forecloses) and that action wipes out all the junior liens, including first mortgage, second mortgage, mechanics' liens and so on.

The sheriff gives the buyer at a foreclosure auction a deed, not a certificate. The deed conveys ownership with the right of redemption by the old owner. The redemption period is either 6 months or 24 months, depending on the type of ownership: non-homestead or homestead.

So, hypothetically if a mortgage is in default and taxes are not paid, the sheriff can sell the property for the taxes and the mortgage lien disappears (is wiped out). If the trustee for the mortgage-holder forecloses first, the tax lien runs with the land and can still be foreclosed by the sheriff after the mortgage company conveys title for non-payment because the tax lien is not wiped out by the mortgage foreclosure.

Your question is a bit of a puzzle. The sheriff's deed cleared any junior liens. They would have no right to "redeem".

Redemption is a process for the old owner to pay back the purchaser at a sheriff's sale to get his property back (the purchaser re-conveys the deed back to the old owner). The payment would be for the full amount paid by the purchaser plus interest set by law (currently about a quarter of the amount paid).
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Sat Apr 3, 2010
Derek Gustafson answered:
First off, we need to know who is offering this to you. What is the situation with the first loan?
0 votes 11 answers Share Flag
Tue Mar 30, 2010
Shirley Shepherd answered:
what is the address and I will get you the information--Shirley Shepherd 972-489-8157
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Sun Oct 31, 2010
Kim Nwachukwu answered:
The bidding is held online and you must have a real estate license to enter bids. Those without licenses cannot bid on HUD properties. I doubt an agent would do it at midnight since there would be no one at the HUD offices to review the bid at that point. Doing it the next morning is more than fine; sending it in at midnight will not cause your contract to have first priority after owner occ - the contract that nets the most for the agency will have priority. I work HUD contracts and am at 214-695-3015. Thanks, Kim ... more
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Sun Jan 1, 2012
Janet Choate answered:
Hello home seller, You have to get the bank to talk to you. Talk to a lender that has helped people with this situation. One that I know is Chris Choate with Diversified Loans. His contact info is cell: 817-505-6302 and email:,
Thanks, Janet, Realtor 469-964-0371
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Fri Sep 9, 2011
Chris Potthast answered:
Call Keith Devoe at (214) 707-5318. He has experience in this arena and will be able to provide you with some guidance.
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Sat Sep 19, 2009
T.E. & Naima Sumner answered:
How can I help Roha?

Yes you need to do all your inspections in advance. Sales are cash only or get a lender that is willing to lend you the money and close on the day of the auction. The latter is difficult to find.

I can find out exactly what the loan amount is. Are you 100% sure that the house is on the auction list. Many homes on the list end up going being auctioned if the owner gets a contract etc.

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Sun Sep 13, 2009
Mattye P. Smith answered:

My Team has experience working with Investors and short sales. However I need more information regarding all of your properties.

You may contact me directly @, let's explore all of your options and find the best soulution for you.

Best regards,

Mattye P. Smith

American Realtors
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Thu Aug 6, 2009
T.E. & Naima Sumner answered:
Their bottom line is important, but they also look at your pre-approval letter to make sure you can actually close. So, the amount you asked for in addition will affect their bottom line: if they pay for home warranty, if they pay for title policy or other concessions. If their net amount is acceptable and your pre-approval looks good, they'll probably be calling you.

No, they don't really care whether you're an investor or are going to occupy it. But, that being said, some of the government-sponsored foreclosures do give preference to owner-occupants.

The Realtor has an obligation to convey your offer, but the banks have more than usual on their hands and are sometimes very slow in responding.
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Thu Jan 2, 2014
Dallas Texas answered:
Contact my office ASAP we need detail many questions on your behalf. Provide you options, you need to take action NOW !

Does he not realize if mortgage is both names his credit goes down tiolet ? along with yours.

Lynn A. Crosby ~ National Featured Realtor
Follow me on Twitter:
"...Specializing in Residential, Commercial Properties and Loans..."
Dallas Realtor, and Credit Repair Consultant -
The Michael Group - "Dallas Business Journal 07’ & 08' list top realtors"
Dallas Loan Officer -
Dallas Real Estate Office: (972) 699-9111
Dallas Real Estate Website: 60,000 listings Dallas homes for sale
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Tue Jun 30, 2009
Guy Ghanem answered:
If she is being told that it's a 4-6 month wait, then your mom is most likely attempting to buy a short sale property not a REO (Real Estate Owned) or bank owned. Bank owned homes typically give a response within 5-7 days and close in 30 days. Short sales have many hurdles and red tape to get through which is why they typically take longer. Although the offer is substantially lower, by the time the bank comes back with an answer, the property value will most likely be in line with your offer.

If you or your mom are not familiar with the process, ask your agent for a full explanation of how short sales and REOs work.

Good luck.
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Tue Jul 7, 2009
T.E. & Naima Sumner answered:
Yes, there are some homes that you can buy down in that range.
Some are listed on MLS, and you're welcome to go to the website below and search for those.
Some simply are not listed because Realtors can't get enough in commission to warrant listing them. Often these are found only by driving around and spotting small signs, especially for sale by owner.

I do have a list of properties that owners are willing to do seller-financing, which may be an alternative for you.
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