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Foreclosure in Tucson : Real Estate Advice

  • All807
  • Local Info68
  • Home Buying297
  • Home Selling52
  • Market Conditions39

Activity 42
Fri Aug 17, 2012
Donna Reed answered:
Each lender is different and has their minimum. I would suggest you talk to a lender of your choice, or, I'm happy to refer you a couple of names. Often, if you aren't able to buy "at that moment", the lender can help guide you so you will be qualified very soon. Let me know if I can help!

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0 votes 11 answers Share Flag
Mon Jul 30, 2012
Tim Moore answered:
Here is a good site to explain the law there.
0 votes 5 answers Share Flag
Mon Jul 30, 2012
Spirit Messingham answered:
That is a very good question James for an attorney, not a Realtor. I would recommend an attorney that deals with real estate or bankruptcy.

0 votes 8 answers Share Flag
Mon Jun 4, 2012
Jutta Lunario answered:
Before you foreclose I might be interested in buying your asset feel free to call me at 520-780-9339
0 votes 3 answers Share Flag
Mon Jun 4, 2012
David Hopper, GRI, ABR answered:
Hi Linda,

If you give me your address, I will be glad to pull the latest sales for you.

0 votes 9 answers Share Flag
Sun Nov 13, 2011
Brad Bergamini answered:
I am sorry that I can't give you direct advise. But we haven't seen many loan modifications work unless there is a 3rd party involved. I suggest a real estate attorney. be careful there are some interesting scams out there.
Best of luck,
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0 votes 5 answers Share Flag
Fri Jun 29, 2012
Jerimiah Taylor answered:
Tough question and without specific details about your situation it is impossible to answer.

The key to understand is that you'd still be subject to to due process.

First you'd have to lose the house

Then they'd have to sue you for the deficiency, and win.

Then they'd have to get a judgment awarded.

Then they'd have to garnish for payment on the judgment.

This is not a short process by any means.

I'd say the best thing to do is to look for a way to stay in your home or work it out with the bank prior to getting to this point...

I'd be happy to sit down with you and help you sort through this, and set you up with an attorney who is familiar with these things that offers a free consultation.

Jerimiah Taylor
Tucson real estate
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0 votes 7 answers Share Flag
Wed Aug 31, 2011
Ron Thomas answered:
1.) Offer the Lender the DEED-IN-LIEU, whereby you give up the house in a voluntary foreclosure and walk away. Arizona is listed as a Non-Recourse State, so you shouldn't have to worry about a Deficiency Judgement. I would hope that you do not have a SECOND on the house as that could complicate things.
This will not hurt your Credit as badly as a FORECLOSURE.
2.) Go through a formal Foreclosure.
3.) Try to make it through; keep making your payments and pray the value rises. If you can afford the Monthly payments; just compare what rent would be for you, and don't worry about the negative equity. You will at least have your house, your pride and your good Credit years from now.
4.) Rent out the house, take a monthly loss, and move somewhere else. (I don't know what this will accomplish, but it is an alternative.)

Good luck and may God bless
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0 votes 12 answers Share Flag
Sat May 26, 2012
Ron Thomas answered:
If I understand you correctly; you bought the hpuse with the intention of taking the $8000 and letting the bank foreclose so that you could take advantage of the Bank too. Is that correct?

If that is true, you are guilty of FRAUD and maybe a few other things.

I will not contribute to your scheme and I will not wish you good luck.

You are the reason that the banks are screaming and probably will look for a Deficiency Judgement.

I hope I'm wrong.
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0 votes 11 answers Share Flag
Fri Jun 29, 2012
Spirit Messingham answered:
To work with an agent or Realtor. FYI for most buyers costs you nothing to work with a buyers agent, many agents (like myself) have no retainer fee for buyer clients. Best of luck. Spirit ... more
0 votes 11 answers Share Flag
Sun Sep 1, 2013
Alan May answered:
If you've been foreclosed upon, you no longer own the house, and are no longer responsible for the pool, the lawn or anything else at the home.

If you've put your heart and soul into the house, I know that it can have an emotional pull on your, and feel terrible to walk away from it, but that's just what you need to do.

My condolences, and I wish you luck.
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0 votes 9 answers Share Flag
Wed Apr 6, 2011
BG answered:
not much in my opinion. The question is: how soon will bank assign this house to a listing agent ? this can take weeks or even months. once it is in agent hand, you have days ... to take care of your business. Not sure if you want to wait to the very last min. ... more
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Tue Mar 29, 2011
Randy Hooker answered:
0 votes 16 answers Share Flag
Mon Nov 25, 2013
Ruth and Perry Mistry answered:
Hi Az Home Owner

Arizona is a non recourse state. Do work with the right agent who has experience
With short sales.

Also 401k are protected from Creditors any way.

Good luck.
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0 votes 17 answers Share Flag
Sat Dec 4, 2010
Mai Calev, Realtor answered:
Agents in the Tucson area should be able to get you the information you need on foreclosed homes and buying down points on a FHA loan. If you need a referral, let me know.
0 votes 11 answers Share Flag
Thu Jan 13, 2011
Fred Glick answered:
Yes, the bank can get a deficiency judgement and attach the other home if they chose to.

You may want to consult an attorney who would negotiate with the bank and make sure that they do not come after you. ... more
0 votes 16 answers Share Flag
Tue Jul 27, 2010
Bill Eckler answered:
Consider referring to the local tax records or telephone directory for this information. A reverse search on may also reveal the information you need simply by entering the address. ... more
0 votes 2 answers Share Flag
Tue Jun 29, 2010
Jeremy Silverman answered:
I need a little more information. Did you purchase the second home in November as a primary residence or a non-owner occupied residence? Is the home purchased in November in Tucson as well? Cancellation of debt is a broad term of which I would not be able to define nor should any Realtor. I would reccomend a Real Estate Attorney that specializes in foreclosure processes. This is the best way to have your questions answered correctly. ... more
0 votes 12 answers Share Flag
Tue Mar 23, 2010
Richard Lecinski answered:
With out seeing the contact or having a lawyer look at it I assume it means when you do you a Bulk Package Buy you get everthing in that group like it or not.
0 votes 0 Answers Share Flag
Thu Jun 24, 2010
J answered:
Hi Oly,

You can access property records online for a small fee paid to a public records directory company. Not only do they have information on property but they have copies of birth records, divorces, sex offenders, etc. There are many companies that offer this service so you can research online for the best deal.

Good luck!
Jasmine Adriano
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0 votes 5 answers Share Flag
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