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Foreclosure in Missouri : Real Estate Advice

  • All132
  • Local Info5
  • Home Buying77
  • Home Selling11
  • Market Conditions2

Activity 152
Wed Apr 10, 2013
Alicia Clark - THE HOLT TEAM answered:
Send the property address, and I can try to find out for you. You can check the tax records, but if very recent, might not be recorded yet.
0 votes 2 answers Share Flag
Sun Apr 7, 2013
Ron Thomas answered:
Don't know where Wildwood is; some areas of the Country handle Lease/Options differently:
As a rule, L/O is not a good way to go; You are the mercy of the Seller who can dictate the terms, it is full of pitfalls, it is way more expensive than using a Lender, and the Seller does not report to the Credit Agencies, thereby improving your Credit Score.
I will state that Lease/Option is the ultimate "Caviat Emptor"!

4 years should be enough time; you should be able to get a loan.
I can recommend a Mortgage Specialist who works in all 50 states; he's honest and knowledgable.
Shane Milne, and you can e-mail him at
He is regiatered on Trulia; you can look up his PROFILE and RECOMMENDATIONS.
Look for the VIEW A TRULIA VIP and chick it.
Good luck and may God bless
... more
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Sun Apr 13, 2014
Trisha Lee answered:
When an agent takes over a listing that has become a foreclosure, they hire companies that do what they call "trashing" the property. In other words, they take everything that has been left behind and remove it from the premises. Most of the time they just haul everything off and throw it away. If there is something useful that can be donated to charity, sometimes the company will take the initiative and give those to a charity that can use them (like the Salvation Army) but are under no obligation to do so. The previous owner should have been given ample opportunity to remove their personal belongings from the premises before the above takes place. It's unfortunate, but the lender cannot sell the property until it is empty and cleaned up to a fair extent. ... more
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Thu Mar 28, 2013
Jozef1964 asked:
Wed May 22, 2013
Dale Weir answered:
Only if you are willing to risk having both offers accepted at the same time and end up either buying 2 homes or being in breach of contract on one of the homes which can result in legal issues, fines and losing your earnest money ... more
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Wed Jan 9, 2013
coleyknight asked:
This property was on and off of the market for almost 3 years before the owners got it repo'd and then sold to Freddie Mac at an auction. Originally, they had it priced for $350,00...
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Fri Dec 21, 2012
Carol Oudsema answered:
I am a broker who has been involved in bank-owned sales for years, as well as HUD or Fannie Mae properties. Here is a short checklist to make yourself an appealing buyer: Have your proof of funds written and available (whether this is proof of your cash or a pre-approval for a mortgage); be informed and organized (read all attachments, fine print in contracts, on the web sites, etc); be flexible for any closing date; limit or reduce any contingencies of any kind (they react better when they think you are an experienced, realistic buyer who will be prepared to inspect and take the property as is and not get cold feet). Get a good Realtor to assist, because this banks do NOT specialize in any hand-holding! ... more
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Fri Nov 2, 2012
Ron Thomas answered:
You probably cannot:
You should be talking to a Real Estate Attorney; primarily because Missouri is a RECORSE State, meaning that the Lender can file a Deficiency Judgement against you.
There may be exceptions and loopholes, so you should get local advice.
One thing you may be able to do, is offer the Lender a Deed-in-Lieu in exchange for a letter from them absolving you of the debt: They may not accept, but you can try; talk to the attorney.
Understand that most lenders and probably the Government, will not consider your predicament to be a "hardship".

Good luck and may God bless
... more
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Wed Oct 24, 2012
Dan Brassil answered:
What information are you seeking? I am not showing that this property is currently for sale.
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Sun Sep 1, 2013
Dan Tabit answered:
It's likely your current score would be different, depending on the source of your score and what credit activity has happened since you last looked. The only way to know is to meet with a local mortgage lender, apply and find out. FHA may well be an option if your score is still in that range and with higher scores there may be other options too. ... more
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Fri Sep 14, 2012
Kim Glass answered:
Hi Dsledler55,

My limited understanding is that TOPA (Tenant Opportunity to Purchase Act) is a unique law that tends to favor tenants in the event of landlords selling the home they reside in. Giving them an opportunity to purchase the home is the basis of the act.

Hope that helps a bit!
-Kim, Community Manager
... more
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Wed Jul 25, 2012
Suzanne MacDowell answered:
First thing, talk to a lawyer. Find out what happens to the $15,000 difference between what you owed and what the bank sold the property for. It probably was eaten up by penalties and interest but it's worth finding out and learning what the law in your State is as to any excess funds.

I am having a hard time believing someone from the bank came by your house. Did the person leave you their business card? Again, I would check this person out, perhaps through your attorney. Generally, when a bank forecloses, the only person you would hear from is the Sheriff's Department telling you that you are being evicted and that it's time to move out now. Sometimes the banks do not sell the property for a very long time and when they do they list it through a realtor. There is no way banks want to talk to individual buyers.

My initial advice stands, talk to a lawyer.
... more
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Sun May 26, 2013
Jim Simms answered:
The same way you would if it didn’t have a mortgage at all. Find an agent that you trust, spend as much time talking about your needs and their experience as you do selling the home, maybe more so. The reverse mortgage has a payoff just like any other mortgage, good luck,

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
... more
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Sun Jul 22, 2012
Scott Godzyk answered:
Your first step should be to make sure your business is registered and insured. Then meet with local listing agents who specialize in listing REO homes in your area. Alot of agents manage the preservation task and get estimates and hire the workers. Other banks will use national preservation cpmpanies which you can sign up for, they require more paperwork and requirements but pay less. ... more
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Sat Jul 14, 2012
Suzanne MacDowell answered:
Absolutely! The bank is probably unaware of the property's condition and may even not be fully educated about local market conditions. And, they don't want to make any repairs whatsoever to the home. Make your offer based on a 'worst case' scenario and be prepared to justify your dollar figure. Back it up with things like a home inspection and a Market Analysis prepared by your real estate agent ( you DO have a real estate agent, don't you?) and hang tough. Banks are difficult but they're not stupid. If you can provide hard data to justify your offer price you can definitely negotiate! ... more
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Sat Oct 19, 2013
Tim Moore answered:
Why would you think that homes that have been foreclosed would be able to close any faster than ones owned by a person? They don't. Dealing with a bank can often take longer.
0 votes 9 answers Share Flag
Tue Jun 19, 2012
Tina Lam answered:
You can ask a Realtor to represent you and he can pull up the public records for you. Or, you can go check the public records with your county recorder's office.
0 votes 4 answers Share Flag
Tue Jun 19, 2012
Tim Moore answered:
No idea what you are looking at since there is no link. You need to speak to a lender to find out if you can get a loan so it doesn't bite you in the butt.
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Tue Jun 19, 2012
Chuck Campbell answered:
Withdrawn simply means, that a particular property has been removed from the MLS (Multi-List Service). The best thing do do is contact a local agent and get the details on the withdrawal. ... more
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Tue Jun 12, 2012
Tim Moore answered:
It is usually at the courthouse somewhere. Call the courthouse and ask where they hold the auctions.
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