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Foreclosure in Peoria : Real Estate Advice

  • All158
  • Local Info8
  • Home Buying39
  • Home Selling4
  • Market Conditions3

Activity 14
Tue Jun 19, 2012
Tina Lam answered:
The owner would be, which in this case should be the bank. But, they may not care about maintaining landscaping.
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Tue Nov 23, 2010
James Wehner answered:
Are you looking to reinstate your loan by bringing it current or paying it in full? If so, you should also try to contact the trustee with the information so they can contact your lender as well to bring your home out of the foreclosure proceedings.

You may contact me directly if you need any assistance on identifying the trustee and their contact information.

Best of luck!
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Tue Nov 9, 2010
Jeffrey Masich answered:
Dear Taza:

Good question. There are many different public and private auctions that lenders use to auction a home. Yest the county court house is one. No you do not need to be a Realtor to bid. However, you should study and make sure you know what you are doing. Make sure you inspect the homes you are interested in bidding on carefully.

There are auction bidding companies that will do the bidding for you for a fee, if you feel uncomfortable about the experience. No, you have to put a deposit down and arrange for payment of the balance or suitable financing a few days later.

Homes that are in better shape requiring less fix up are usually listed on the MLS by the bank. You can use your Realtor to find these homes. Homes sold by Fannie Mae and Freddie Mac can be purchased through your Realtor.

May I wish you the best.

Jeff Masich, Realtor
Arizona Homes and Land
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Thu Sep 2, 2010
Shawn Burns answered:
While there are many foreclosures that are around this price, this might not be what you are looking for. This lot was acquired at a Trustee Sale a nd there is not actually a home on this lot, so the vacant land was listed for this amount by the lender. To my knowledge, this parcel of land was recently sold. ... more
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Tue Nov 2, 2010
Randy Hooker answered:
You need to consult an attorney. But if you have a legally binding lease agreement, obligating you to pay rent, then you are bound by that lease to pay the rent. The owner's/landlord's problems (foreclosure or otherwise) do not supersede your lease agreement - in my personal opinion. But I am not an attorney, and you truly do need legal advice, not real estate advice.

Best of luck!
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Tue Nov 2, 2010
Scott Godzyk answered:
usually the owner does not get any money from the auction unless it sells for more than the owe plus teh cost of the foreclosure which if it was teh case, he would be able to sell it now and not have to go to foreclosure. As a landlord most state laws require the landlords to keep security deposits in a seperate account and not deposit it in their own personal use accounts.

At this point you should at least talk to an attorney for teh 1st free meeting to get some direction. no one can tell you not to pay your rent, i have heard not paying it but p[utting it aside in case the owner is able to get out of foreclosure by working something out with the bank, the you still have your rent to pay him.

You can also google landlord tenant law Arizona and get the rules regarding security deposits.

Good luck working things out
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Wed Jan 19, 2011
James Gordon ABR SFR SRS answered:
Bin you can sue for almost anything. At this point the property owner does not have the money to pay the mortgage and is being sued by the lender. If you feel that they have some money stashed away do ahead and get in line and sue them. By the way keep your rent current and be able to prove it so that you can take advantage of being able to stay in the home after the forclosure sale. Here is a good link about your situation.
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Wed Dec 26, 2012
Steve Schexneider answered:
Depends, are you selling the house as Short Sale? or are you letting it go into Foreclosure? If Short Sale, we always tell sellers to leave the property in the best condition and leave everything in tact. If you are letting it go to Foreclosure, I would also suggest leaving it. But I have seen a ton of houses with missing things. It's kind of sad but they will do what they want. Although it cost you a ton to have the system installed, I would just leave it with the house, hate to say it. Sorry

Just curious? Have you considered trying to Short Sale the house? If you have any questions about Short Sales or any other aspect of Real Esate please give my office a call and we will be glad to help you out.

The Schexneider Group
(623) 414-3388
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Mon Apr 27, 2009
Jessica Kibec answered:
My advice would be that you speak to your tax advisor. There are many variables, and he/she would be able to explain the consequences of each scenario. In some short sale's the bank will settle the loan without a deficiency judgement.
Good Luck,
Jessica Kibec
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Thu Mar 26, 2009
Paul Welden answered:
Hi Melissa,

If you know the property owner's name, you can look it up here, You want to search for a document called the Notice of Trustee Sale. However it will be easier if you supply me with the address & I can tell you in a jiffy if the property is in foreclosure.

On another note, if you intend to rent again, you may want to consider having a real estate professional assist you, even if it costs you some money. A good real estate agent can protect your deposit money & negotiate the best deal possible, among many other things.

Buyer's Agent Realtor
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Wed Nov 3, 2010
Donald Keys answered:
Simple answer whatever the rules are provided by the auction company.
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Tue Nov 2, 2010
Michelle R Webb answered:
We are able to recieve those lists from our local Title and Escrow Companies. These come to us on a bi-weakly basis.
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Tue Jan 28, 2014
Donald Keys answered:
Simple answer: Consult your LEGAL COUNCIL - No agent or REALTOR should be answering this question.
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