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Foreclosure in Miami : Real Estate Advice

  • All3K
  • Local Info256
  • Home Buying1K
  • Home Selling88
  • Market Conditions104

Activity 180
Fri Mar 4, 2011
Lorrie Feld, ABR,GRI,SRES, answered:
You should definitely continue to pay your HOA fees. If you don't this puts a strain on the rest of the homeowners and on the association. It is very important to make these payments so the association can function properly.
Good luck,
Lorrie Feld
Keller Williams Integrity First
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0 votes 12 answers Share Flag
Fri Nov 19, 2010
Don Kelbick answered:
Very risky transaction in this market
0 votes 3 answers Share Flag
Sun Oct 31, 2010
Dp2 answered:
The foreclosures are a catch-22 issue: the real-estate market won't completely heal until all of the necessary ones happen; similarly, too many of them processed all at once will also hurt the market. ... more
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Sun Oct 31, 2010
Dp2 answered:
0 votes 4 answers Share Flag
Tue Nov 2, 2010
John Juarez answered:
If the payments were not being made on the mortgage, errors in paperwork do not change the fact that the mortgage is in default. It will cost the banks a bunch of money to straighten out the mess that they have created. (Talking about paperwork, not the overall mortgage meltdown. That is another story.) In the end, the folks who lost their houses will not get their houses back…because they were not making the payments. Those foreclosures should have taken place and they did…the banks just took illegitimate cost and time saving steps to do so. Dumb on their part. Costly on their part. However, there have been no accusations that people were foreclosed upon who should not have been. ... more
0 votes 7 answers Share Flag
Tue Nov 23, 2010
Mike Wald answered:
I would advice you to talk to an attorney!!!
We are not allowed to give this information, we are not a lawer!!!

0 votes 8 answers Share Flag
Sun Oct 10, 2010
Anna M Brocco answered:
Consider asking your landlord and or management, ask any local agent, check public records, etc.
0 votes 10 answers Share Flag
Sun Oct 10, 2010
Scott Godzyk answered:
The bottomline is if you are a homeowner, if you are behind in your mortgage, if you have not worked with the bank to try and resolve your default, if you have no ability to make any payments, if you ar erenting your home or if you have abandonded your home and it is vacant, you may not have a defense against foreclosure.

What you do have is teh ability to have more time to work things out. if you have the ability to make any sort of payment, then you have time and a chance to get a forebearance which is 100 times quicker than a loan modification, it sets repayment terms of what you owe, it can move that back balance to the rear of your loan and bring you current. you then have time to complete a loan modifciation without worrying about foreclosure.

If you have no ability to make payments, then you now will have time to complete a short sale. This will avoid foreclosure and save your credit allowing you to purchase another a home ina mere couple of years instead of 7 to 10. If you cant make your payments or if refuse to work with the bank, this will merely delay foreclosure and not help you find a solution. My advice is to call your bank, aks for the home retention department, let them know your situation and see what they can do to assist you.
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0 votes 5 answers Share Flag
Fri Oct 1, 2010
It can take a few weeks to get the title policy. If you don't get it within that time, give a quick call to the title company. It's rarely a matter to concern yourself with since msot title companies take care of it all pretty fast.

Elena Ollick
Amerivest Realty
Faith Home Loans
Latest Post: Naples Luxury Home on Fire
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0 votes 0 Answers Share Flag
Sun Sep 26, 2010
Alma Kee answered:
Hi Anne,

I agree with you... it's nauseating to see these predatory HOA attorneys foreclosing (instead of filing a lien for $100) so they can get $2k in legal fees! HOA board members do not have a clue about what these attorney's are doing!

Here is an interesting site about HOA and condos:

All my best,
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0 votes 3 answers Share Flag
Thu Sep 23, 2010
Carlos Benitez answered:
Hire an attorney...I can refer one if you like.

Call me at: 786-586-1500

0 votes 7 answers Share Flag
Tue Sep 21, 2010
Marianela Brown answered:
Hi Cai,

You are welcome to browse my website for a 2 bedroom condo. Please refer to the below link.
More importantly, are you considering financing the condo? If so, we have to make sure that a lender has no problem with giving a loan in that particular building. ... more
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Tue Sep 21, 2010
Alma Kee answered:
The only news I've seen is about halting the "eviction" of the homeowner "after" a foreclosure has occurred. Apparently there was paperwork that was incorrect. It says they are not Halting foreclosures, just the eviction of the owners who were foreclosed. ... more
0 votes 0 Answers Share Flag
Fri Sep 3, 2010
Mott Marvin Kornicki answered:
It is normal for a lender to file a Lis Pendens with the court. That LP is the start of the formal foreclosure process.

Your short sale could still go through- stay in touch with your lender - usually they prefer a short sale over foreclosure. ... more
0 votes 6 answers Share Flag
Sat Aug 28, 2010
Dave Robinson answered:
I was unable to find this property in the MLS System or the county tax records. Please check the address and give me an updated address.
0 votes 0 Answers Share Flag
Thu Aug 20, 2015
Dianne Scott answered:

The only accurate way to determine market history and exact number of days on the market is to contact a local agent. To know how many offers have been made in the past, you would have to contact each listing agent who has had it listed.

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0 votes 7 answers Share Flag
Sun Aug 22, 2010
David Orr answered:
The question is: When did you have a contract on the property? Also, you didn't say whether the addendum was given to you at the same time as when they accepted the offer. If it was, then that's the effective date - not two days later (the 48 hrs).

You should start counting the seven days from when buyer and seller both agreed and signed the offer.
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0 votes 9 answers Share Flag
Sat Aug 21, 2010
Alma Kee answered:
They may have had to clear up liens on the property, i.e. an IRS lien sticks after foreclosure for several months. Also they may not want to "realize" the loss on their financial statements so they intentionallly delay the inevitable and carry it on their books at a higher value.

Also I've heard banks are holding back inventory so it doesn't drive down prices.
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0 votes 5 answers Share Flag
Wed Aug 18, 2010
Jose Enrique Humaran answered:
Hello Baldo
how much is a typical escrow deposit when buying a foreclosure?Generaly is 1%-3% of the offer price, the law does not required you to make a deposit
Where does the money go? The Money goes to a escrow agent (i.e. title company, lawyer firm, etc)
Any suggestions to make a secure transaction?Hire a Realtor
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0 votes 7 answers Share Flag
Fri May 9, 2014
Randell Simpson answered: type in the owners name or address,,, or if you want me to look it up for you, email me at
0 votes 5 answers Share Flag
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