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Foreclosure in Wichita : Real Estate Advice

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  • Home Buying80
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Activity 9
Mon Jun 25, 2012
Tim Moore answered:
The fact that it had been foreclosed is irrelevant. That was the past and is over, now it is owned by someone after the auction, most likely it is now bank owned and for sale by them. Talk to a loan officer or mortgage company and ask if can be sold with a FHA loan. FHA has rules to follow and must pass an inspection and often bank owned homes have trouble with them since no one has been taking care of it many times. Good luck. ... more
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Fri Apr 18, 2014
Michael Emery answered:
Chances are the homeowners requested and received an extension to the foreclosure.

And if the home ends up at the courthouse auction, someone will buy the home. Either the bank or another buyer will purchase the home. If the bank that owns the note purchases the home, it could be on the market in as little as 30 days or longer, depending on circumstances. ... more
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Tue Jun 26, 2012
Rachel LaMar, J.D. answered:
Sarah,

It is public record, but if you are having trouble finding information I suggest you contact a Realtor in your area. He or she can pull the public tax records and see how much is owed on the home, and can also contact a title representative and mortgage brokers for you so they can dig further. If you like you can contact a title company yourself and probably get them to help you. Best of luck!

Rachel LaMar, J.D.
LaMar Real Estate
... more
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Tue Jun 19, 2012
Jerry Long answered:
Unfortunately, they have as long as they want to take. You always have the option of withdrawing your offer at any time prior to it being accepted. Hope that helps.
0 votes 11 answers Share Flag
Sun Aug 8, 2010
Joseph Runfola answered:
What is the violation? apparently it is recent as the house would not have existed with the violation since 1890. If the violation was not corrected, or is causing a dangerous condition probably yes. Without all the facts this question is hard to answer. However, I am leaning towards a Yes answer. Please visit http://www.wichita.gov/CityOffices/OCI/building_inspection.htm this site may answer your question. ... more
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Mon Nov 9, 2009
Mike Kelly Allison Norman answered:
Chances are the lender will not start any proceedings until you are 60 days late. For all the law on this go to: California Civil Code, Section 2924. If they DO file a Notice of Default the timeline is approximately 120 days to the sale on the courtsteps of your house. They would normally NOT file a NOD or start foreclosure proceedings for being late 30 days. Sounds like your loan representative is beating their chest! Was this someone who called you once the late had been reported? These call-centers have their scripts!!
Have you sought any loan modification? This could be a good opportunty to plead a "hardship" to get your loan modified. You seem to fit the bill. Chances are you loan is MORE than your homes current value, have job issues and may be close to insolvency--not enough money at the end of the month. I don't know who your lender is but I would certainly open up conversations with them NOW!
And remember, October 11th new bills were signed by the govenor making "advanced fees" to loan modifiers illegal! Don't let the sharks take a bite out of your wallet! You can do it yourself! Check out my radio show blog at the site below. Good luck! Don't despair but don't stick your head in the sand either.
... more
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Wed Jan 12, 2011
Voices Member answered:
Onttu

If you are just interested in browsing through Foreclosures or Tax sales maybe this will be helpful.

The Banks and the Gov. have created sites to provide the public with access to their properties for sale listings..(REO/Foreclosures) and information on the Bid/Purchase process.



Sites like.... http://www.wamuproperties.com/ .... http://www.hud.gov/homes/index.cfm

https://www.citimortgage.com/Mortgage/Oreo/SearchListing.do ... http://www.homepath.com/

The links to these Bank and Gov. sites can be found here.... http://www.mortgagenewsdaily.com/wiki/REO_Database_List.asp http://www.biggerpockets.com/bank-reo.html

If it's Tax sales you're interested in then you may find this search engine useful...
http://publicrecords.onlinesearches.com/Foreclosures-and-Tax…

Good hunting, Dunes
... more
0 votes 3 answers Share Flag
Sun Oct 12, 2008
Jerry Long answered:
I'm a bit confused. In order for your nephew to borrown on the property, his name would have had to been on the title. I am guessing his name was on the title with yours? The he borrowed, signed a note and a mortgage, and you signed neither the note nor the mortgage? Usually they would ask you to sign the mortgage as a co-owner (no obligating you for re-payment on the loan, but making foreclosure would be simpler because the mortgage is the security instrument that pledges the property as security on the loan). How is it that it is valued much less than what your nephew borrowed? Banks almost never want to own property but they do want to receive what is owed on the loan - or as much as think they can possibly get. I might consider a real estate appraisal on the property, but first I would talk to a knowledgeable real estate attorney in your area. Good luck! ... more
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Mon Jun 25, 2012
Charlotte Patterson answered:
Randy, your professional Realtor would be able to provide you with listings. If you're not working with an agent, contact me and I would be happy to help. Charlotte Patterson 409-0398 charlottepatterson@cox.net ... more
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