Upcoming Foreclosures
Home Foreclosure Process Knowledge Base
How does a home foreclosure process work? If someone with an A paper loan goes into foreclosure because their home is worth less than half the value of the mortgage therefore bank does not approve short sale, and they lost their job, how does the process work? This would be for CA. And how long does it stay on the credit report and would existing credit card rates go up?
What is a Notice of Filing in Florida regarding the foreclosure process on a home I'm renting? I just received a "notice of filing" in the mail and I've searched for that term on the web but can't find it. We've been renting the house for 5 years and the home is apparently going into foreclosure.
home under foreclosure process but? maybe i wanna try different realtor to get this home sold at better prices. do you think it's too late to find another realtor as a home is going under foreclosure process? loss mitigation dept said it's not late to submit them another buyer offer if there is but has to be certain price or else. bank is asking lot more than the market value. most likely it will be foreclosed im sure... i guess no realtor would come up and say 'i will try' at this point, would it?
Provide Details for Home Foreclosure Process? Please provide the Steps; either in numbers, or verbage but remember to describe the begining, and the final step.
Easiest way to find out if home is in foreclosure process in Miami-Dade county, Florida? Is there a government dept. where this can be looked for?
My home is in process for a foreclosure, at the moment I haven't payed my mortgage for a while.? If I go back to making payments on my mortgage would this stop the process for foreclosure which my home is not in foreclosure yet.
Can anyone help me understand the foreclosure process of my condo home? I have a condo unit that have not been able to pay, I have kept up with assessments. I recently put it up for short sale and am usually working but I think the bank is trying to serve me with court papers. I have received a first notice already but not a second. How much time do I have before i need to move out. And can i get in trouble if I am not home to receive second notice
Filing chapter 7 and surrendering home, can you help me understand foreclosure process? We will be surrendering our home in our Chapter 7 bankruptcy due to my husband being unemployed, and we can not afford the house any longer. Our lawyer briefly explained the foreclosure prcoess to us, but my question is, do we have to go to court for the foreclosure as well? Or is everything taken care of through the bankruptcy?
Home foreclosure? What is the process for home foreclosure?
Can someone explain the process of looking for and going through the process of buying a foreclosure home? I am interested in learning how buying a foreclosure property works. Is it a good idea? How difficult is it? Where can you search for these properties? What are some good resources to read when considering buying a forecloure property?
Question about process of bank foreclosure on home? In the state of California, why am I always hearing about how people can live in their home rent free for up to a year, and sometimes even longer after failing to pay the mortgage? If people have assets, such as owning other property paid for in cash, why can they get away with this? I have actually heard people brag about it. What is wrong with values? Are they responsible for anything at all? I am confused. Maybe I am not hearing things correctly. And how long does it take for a house to go from pre foreclosure to auction?
I am in the process of a foreclosure and I really need to know if there is any way that i can purchase a home? I am in the foreclosure process and I have no choice but to quick sale. With the money I receive I plan to pay off the loan and put a deposit on another home. I know that it will be hard to get another company to finance me but I have to have a roof over my head. i need to know of any programs or companies that can help
How do I locate homes that are in the foreclosure process so that I may attempt to purchase them.? My husband and I live in Indiana and we are interested in purchasing a home. Foreclosure lists that I see on the internet charge. I am not sure if this is the way to go or if there is a free way to get this information.
Have you bought a home in foreclosure at an auction? What's the process/experience like? I'm debating getting approved for a loan and buying a foreclosed home but I'm uninformed on the process. I'm also wondering if we get to have an appraisal done before we buy or finalize and if we get to see the interior of the home first? Thanks much.
Whats the process of a foreclosure in the state of GA after your home has been foreclosed? My house was foreclosed on May 3, 2011 and now I have 30 days to remove my belongings from the home. What is the process after this point in time? What if I was to remarry and my wife already had a home of her own. Will she be brought in to the situation? Can they put a lien on her home?
Can anyone explain the process of buying a home? ie townhome/condo preferrably seller owned not foreclosure? Just wondering what I may need to expect in the home buying process. Thanks.
What is process for home foreclosure in california? I was unable to pay both home mortgage and hoa fees for almost a year. Lender offered modification but the offer was not good at all. In the meantime, Hoa foreclosed our home and also sued to kick us out "Notice of Unlawful Detainer". We just responded to the summon and waiting to see the judge. My question is how long this process typically take? (I mean how much long can we live in this home). When we see judge, is it possible to request time to move out (extend move out date) or will judge's decision be final? We are working with lender to shortsale. Lender did not file foreclose, but hoa did. I am confused who has the right(or more power) to do all this. (lender or hoa?)
My home will be in pre-foreclosure by the end of May. How long it take for the process of foreclosure to end? I'm planning to stay in the house untill the end and save as much money as I can. I filed for BK chapter 7 and I had been discharge in march 2008. I was trying to get a loan modification with my lender but they don't want to. As of today I am 2 month behing. I live in Kissimmee Fl Osceola County
Process foreclosure home? I found a couple of houses... but I got a reply from one... I offer what they were asking since I was getting tired of my Agent offering less and me losing the house (the offer). The bank wanted to see a bank statement that showed that I had 3.5% for the down payment. Since I had it at my house and not in the bank i deposit it and had my agent fax them what my bank gave me. (showing what i had in the bank). Should this be a good sign? Does it mean I'm going to get it? Its been over a week and It took 4 days to hear any thing and its been about 2 days to see what they say about the bank statement.... Well i told my agent to offer what they were asking for...i hope she did. I need to ask her if the offer she send included them paying for my closing cost...seller concession... I'm happy i got some kind of feedback...i've send 4 offers for 4 diffrent houses and i only get to responses back! .. So lets hope i get this house!
What would a good book/website be to go to look at the foreclosure process from the lendor side? In Florida.? I just got a job doing some processing at a foreclosure law firm in Florida. We work with the banks, and I need to catch up on the processes and proper format/documents that entail putting a home into foreclosure. Any good books/websites to check out?
Purchasing a home in the Foreclosure process? I need some information im new at this. There is a nice house across from my aunts house in her subdivision. The house has been empty for about 3 years and homeless people were living in it and its basically just the structure left it has nothing pretty much inside. Im intrested in the house and Bank of America has it. I called them yesterday and they said the house is in the ending of the foreclosure process and gave me a phone number of an attorney that has the case of the house, The bank said that maybe the attorney can give me a sales date. When i called the attorneys office they said they cannot give me any infornation. What do i do? How will i know when it goes up for sale? Who sells the house the bank, the attorney. What process does this go thru? Please help I know the name of the owner and all i found was a document dated 7/2008 for a Lis Pendens.
We are thinking of "walking away" from our home. What is the process for Foreclosure in the State of Florida? My wife and I own our home here in Tampa, Fl. but times are tough. We originally bought our home 2 years ago and have a 30 year fixed rate mortgage. The lender we used at the time knew we didn't really have the income to be able to pay the mortgage, but approved us anyway. We love our home, but the payment is way too much for us and other bills are piling up. We have heard different opinions from family and friends Some say to just "walk away" from the house and let the Mortgage company foreclose on us. We would rather pay all of our credit card debt down and have extra money every month, than worry about paying a huge mortgage payment. What should we do? What is the foreclosure process in Florida? How long can we stay in our home before we're kicked out? How bad will our credit be damaged?
We need to move out of our house that is in the process of foreclosure but having a hard time finding a home? We are having a very hard time being approved by prospective landlords because of our credit history. We had a bought of hard times last year and got "behind" and have filed bankruptcy and now our home is being foreclosed on in three weeks. We really need a home to rent. We have money saved up for first month and deposit, but no one will give us a second chance to start over. Any advise?
im looking into getting a foreclosure home, but i dont know too much about the process? Hi, I am looking into buying a home and i noticed that there are alot of foreclorures homes around my area. can anybody explain to me how the process works. lets say that there is a balance of $50,000 on the house. need help please
I am in the process of buying a 2nd home, (short-sale/foreclosure) in Tampa FL? I live in New York and have the 20% down payment as required and all pre-pays at closing based on what I pre-qualified for. I know with a short-sale it can take sometime b4 the close or it may not happen at all. Anyone out-of-state ever gone through this and care to share some insight? Thanks!
Has anyone had their home go into foreclosure with Chase Bank and how long did the process take ? How long did it take the bank to start foreclosure proceedings?
We have recently lost our home due to foreclosure and now we are fighting the eviction process.? How does this process exactly work? What are our rights? How long can we stay in the home? Thanks,
My loan application got withdrawn based on a question about foreclosure process? I'm in the process of refinancing my home. I've never been late on payments everything is good. Last week while talking to the loan officer I asked her about the foreclosure process that's it. Today I receive an email that my application has been withdrawn because of my "intentions" to foreclose. Can they do that ? I think it's a bunch of bull.
If I do not show up for a home foreclosure hearing what will happen? My home is in foreclosure and I was mailed a letter stating a date to show up at court. Can they arrest me if I do not show up or will they just auto send it thru to foreclosure and start the eviction process. Anyone know for sure. I really, really do not want to go.
Is it possible to help speed up the foreclosure process on neighbor's home? My mom and dad have horrible neighbors. They're loud, obnoxious, inconsiderate, rude, sell drugs, etc. Parents have had many sleepless nights because of these bastards. Calling the cops doesn't help much either. It had gotten so bad, that my dad considered buying their house just to get rid of them! Talk about desperation! Luckily, the real estate agent my dad was working with, advised him not to buy. She told him that the neighbors were at least 9 months behind on their mortgage payment. I guess that's good news, but we're wondering how long before they get evicted? They live in California. Someone suggested that I call or write the mortgage lender (Citibank) and inform them on the condition of the house. It's totally trashed on the outside, and one of the teenagers who hangs out there, mentioned that the inside was just as bad. Would the bank even take this into consideration and speed up the foreclosure process? They're definitely loud but according to one cop, there is no law against it. Even at 2:30 am! Isnt that called disturbing the peace? My dad doesnt understand how not even one of those thugs has been arrested for possession of drugs, since they're always getting high and drugged up on their porch in clear view of everyone passing by. Cops said there has been no probable cause to search them. :-( I don't know much about real estate, so I never thought twice about the fact that the agent looked into their payment history. When I mentioned that my father thought about buying their home, he went so far as to talk to the neighbor about it. She was all for it! She gave my dad permission (not sure if it was only verbally or written) to do whatever he had to do to start the process . The neighbor never metioned being behind on payments. When you think about it, my father was actually going to do her a favor (which I tried to talk him out of) and get the house off of her hands. Geez, this is getting way too complicated! :-S
Will the average American home owner who is now in the process of foreclosure actually benefit as much as the? greedy Republican Banks and Mortage companies who caused this mess will to the Congressional multimillion dollar Bail out at the expense of the American Taxpayers?
How do I get the bank to process the foreclosure on a home that was given back to the bank during a bankruptcy? We declared bankruptcy over 2 years ago and included the home under the BK (I had to go on disability and couldn't afford the mortgage). A judge processed and approved this action and gave the bank back the home. The loan was originally with Countrywide Mortgage and when Bank of America bought Countrywide, BofA then was transferred all the paperwork for the BK. We receive monthly statements from BofA stating that they know we have filed bankruptcy but are required to send the statements. I have spoken to BofA every three weeks and they acknowledge that the home was approved under BK but yet I am told different things about the foreclosure. "it's stuck in the bankruptcy department, they don't know why it hasn't gone into foreclosure, that California is really hard to have foreclosures go through because a judge has to approve them. I can't get a straight or definite answer. Since the title is still in our name we are required to pay the homeowners association fees as well as maintaining the front yard. The bank is paying all property taxed etc. for this home but we would like to get off the deed and have the bank take it completely over. There are now squatters in the house which I have informed the bank about. Explaining that we don't know if there is any damage or drugs inside the home but that they have had parties etc. Hopefully they will realize the liability for their bank. Not sure where to go from this point. Any ideas?
How long does a motion to relief from a automatic stay take in Colorado? Regarding a home in foreclosure.? I need to how long this process will take. My home is in foreclosure the sale date was May 13th. I filed for bankruptcy in Texas March 25th. The home is in Colorado. My daughter lives in the home. How long will this bankruptcy delay the sale.
2nd Home Foreclosure? Our condo is being foreclosed on, however it is not our primary residence. Does the foreclosure process put our primary home at risk of loss or lien?
what letter can I send a lender to stop calling as I start the foreclosure process? I am about to start the foreclosure process. I know the lenders will send mail, but is there a way to get them to stop calling my home and buisness? I heard that you can send a letter to the lender and they have to quit calling and can only contact you through the mail.
In California, is it legal to rent out a home which is in the process of foreclosure? I am curious as to whether or not a home that's in the process of going into foreclosure can be made the subject of a rental agreement. I think I will put it more specifically. I allowed my ex (we were getting along well) to reside there & I with my children (he agreed) moved into a house owned by my parents. The reason I allowed him the live there (temporarily) was to keep the property free of crime, etc. Well, he then basically turned on me & now he refuses to vacate the house. I haven't paid the pymt. for about 3 mos. & he's not paying me anything to live there only maintaining the usual type of bills. So it's not like I'm getting anything toward the mortgage pymt. anyways. I realize obviously now this was a HUGE mistake... Thank you.
If my home is in foreclosure, do I still own it? I was informed in March, 2008 that the foreclosure process had started. I moved out of the house that month and it has been vacant ever since. I went over and mowed the lawn for awhile, but it became too painful for me to go over there even though it was embarrassed that my neighbors had to look at it. Now, the Town has informed that if I don't take care of my jungle they will do at the Town's expense? Am I still responsible for that yard?
home foreclosure and money? If I let my house go throw the foreclosure process and the bank gets the home,will I owe anything on the frist mortage+ the Home equity line of credit when all said and done,,pls advise-thxs
Please explain the process of Foreclosure homes? this house im interested in is in foreclosure but at the moment a realtor has it and on the sign is says must Close by 6-30-11...... so what does this mean if they havent sold it yet? does that mean the bank gets it then? then if the bank gets it how do we no what bank ownes the house? please help me understand the process
Is there a national list of homes that are in the foreclosure process? I'm a renter, I'd like to make sure and keep an eye out that the house i'm living in is not being foreclosed on.
Foreclosure vs "normal" home sales process? In what key ways does purchasing a foreclosed home differ than that of a normal sale?
Owned home for five years-losing it to foreclosure-but bought owner/financed home-Do I qualify for tax credit? I am currently in the process of a foreclosure on my home. I am being kicked out, but was able to sign a contract for an owner/financed home. I owned the foreclosed house for about six years. My son said that I might be able to qualify for the $6,500 home tax credit. Is this true? If so, how do I go about getting it?
Can anyone help us save our home from being sold in foreclosure??? Our home is in the foreclosure process. We can't find a lender to refinance because we are so far behind on payments. Our loan company won't take our money and keep pushing it aside for modification, now it is with the attorneys and they won't let us modify it. I am in a mess trying to figure something out. PLEASE HELP!! We have a family of 4 that live in our home and we need to save it!!
I it possible to purchase a califonia foreclosure home for less than 50,000? My sister an I have been thinking about purchasing a foreclosure home, unfortunately we were only approved for a 45,000 mortgage loan( and we have 2,000 saved up). We have been searching online and we saw many homes with a remaining loan balance under 10,000. Under our understanding, a hopeful foreclosure buyer pays what the previous owner owed and other taxes and fees. Would this add up to more than 100,000? Or how does this process work?
At what point in the foreclosure process is "cash for keys" offered? We are in foreclosure on our home, and our auction date is set for the first of November. At what point is this offered? Can you receive it months in advance if you agree to keep the property maintained until you leave, or is it ONLY right before they want you out of the residence? Also, our mortgage company was Wells Fargo, anyone had experience with CFK with them, and if so, how much did you receive? Actually, no...that is not the answer to my question...
home foreclosure HELP where do we go and how do we start refinancing? Wasn't the bailout suppose to help homeowners refinance if they were facing foreclosure? How? Was there any agency or website to go to in order to start the process?
Should a spouse be on the deed of a new home when one spouse previously has a foreclosure in process? One spouse owned a home and it went into foreclosure before he got married. Now the married couple is buying a house but only in one spouses name for the loan. Should the other spouse be on the new home deed, this is a community property state. Also could the lender for the foreclosed home come after the new home for debt settlement even though the home was purchased before they were married? Also only one person was on the foreclosed home deed and loan. The home previously owned was before marriage and in Arizona. I guess an additional questions is can the new home be forced by the IRS or previous lender to pay the debt of the old foreclosed home which was purchased before marriage. The previous home would not be considered community property since it was before marriage. Therefore the new home cannot be forced to be a collateral to pay for the old debt of one spouse. Does that sound correct? Also so it would not matter if the spouse was on the deed or not for the new home?
Can a landlord evict while home is in short sale process or foreclosure? I am looking for someone that can answer whether or not a landlord can evict a tenant that is living in their home while the property is in foreclosure or short sale? The landlord does have an obligation to inform the tenant that he is in foreclosure and he needs to give you a written notice that he is selling the house so prospective buyers can enter the house. None of this was done, so I am going with invasion of privacy, and illegal eviction a it is a retaliatory eviction. It came about because I parked my car in the driveway that fits six cars across. Guess my bmw made the old house look bad. Oh and the door handles were changed on my rooms so I now have no key to my room to keep it locked. Does tht change anyones mind here?!
Taking over payments on a foreclosure home? Me and my boyfriend are in the process of finding a house to rent in Connecticut. We've been all over craigslist, the newpapers, and countless renting websites with no luck of finding what we really want in our price range. One thing that keeps popping up is taking over the payments on homes going through the foreclosure process, and eventually own the home presuming that you are faithful with your monthly payments. [[Of course, I would pay for a title search to make sure it has a clean title with no judgments or liens against it.]] I know to proceed with caution and read all contracts very carefully. At face value, this looks like a good option because we eventually want to own a home anyway. But I have plenty of experience with the saying, "If it's too good to be true, it probably is." I realize that there are plenty of scams out there, but is it possible that there are legitimate companies that can successfully do something like this? Has anyone had any experience with this? Please give me some insight and/or sources. Thank you!
What happens to a home that is in pre-foreclosure during a short sale? ? I am renting a home that is being sold in a short sale. My Landlords have received an offer on the home and that is where we are now. As renters we are trying to wait it out because the people who put an offer in on the home are investors who are interested in keeping us as tenants. I am just afraid the short sale will not go through and the home will continue to go through the foreclosure process. I am asking what happens to the home if you are doing a short sale. I do know that the short sale has not been approved by the bank yet. The offer was made over a month ago.
How does the rent to own home process work? I need to know how this process works. I am renting right now and I hoping to find a bigger place. I have had a foreclosure before and that's why I am currently renting. Is there a way to get a list of the rent to own properties for my area? I am in colorado.
How can I stop my home foreclosure asap? Home to be sold within 30 days I believe. How do I stop this process? I need help!
How does purchasing a foreclosed home works, explain the process? A lot homes are up for foreclosure right now usually a good bargain. How does the process work if you are interseted in purchasing one?
What power does a mechanics lien have in the process of foreclosure in Illinois? We know what a mechanics lien is, but what kind of power does it have when you are buying a foreclosed house? Can you tell me where to find a book about homes in foreclosure with mechanics liens on them in Illinois?
Question about foreclosure process in Michigan? has anyone recently done a foreclosure in Michigan? If so what did the process consist of, how long did it take, and what where the repercussions afterwards. I no longer live in the home and can no longer afford to keep it.
How much money do I have to have to buy a home in foreclosure? Do I need to produce a payment up-front? Is a "pre-qualified" letter from a lender enough? How does the process compare with purchasing a home the "normal" way?
how long does it take bfore your home goes into Foreclosures , and how does the whole process work? how long does it take bfore your home goes into Foreclosures , and how does the whole process work on long island new york after you stop your payments also what is the best way to delay it or prolong it ,
what is the foreclosure process from start to finish, starting with being served papers. What is the timeline I know I have 30 days to answer. Is the home sold immediately after the 30 days, or what? I am very confused! Is there still time to get caught up on the past due amount after I am served papers?
How far behind in mortgage payments before a bank starts the foreclosure process? ? Is there a set time it takes before you are actually out of your home?
how is the best way to and steps of buying a home in foreclosure? My wife and I live in Southern California and have been renting for 6 years now. Our twin daughters are graduating from college this year and my wife finally received a settlement from a car accident she was is. In our area most newer homes are out of our price range, but need a tax write off for IRS taxes next year. We heard you can go to the courthouse and make minimum bids on forclosed homes. If any one knows how the process works and the best way of laying the foundation first to purchase a home - it would be greatly appreciated!
What are the steps to a foreclosure home? I'm Looking into buying a home that is going through forecloseure because i heard that is was cheeper. What are the steps? Is it a hard process? And is it really cheeper in the end?
How can I find home owners who are due overages? In the foreclosure process, if the home is sold at auction for more than the amount that covers the lenders expenses the overage goes to the borrower. I'm sure this info can be found at the hall of records. Am I looking for something specific? Are there online sevices that provide this information?
Buying a short sale home and foreclosure? I recently made an offer on a house listed as "short sale" I was informed by my realtor today that it may be to late that the bank might have started the foreclosure process because the owner was seriously deliquent.. He told me that if they started the foreclosure process we are better off looking for another home. He said it could take the bank 6 months before the bank list the house. Does anyone have experience with short sales? Can we work directly with the bank if they have started the foreclosure process? I dont understand why they would take the house off the market for 6 months and then re-list? I should add we are not in any rush, but 6 months is a little much.
In the process of purchasing a home that is pre foreclosure in NJ and need advice...? In March we agreed to a purchase amount based on seller saying she could not accept any less to avoid short sale. Apparently the agreed amount still was not enough and it has been in the hands of the sellers bank to make a decision if they will accept agreed amount. With that being said, we have been out of "attorney review" for almost a month and the inspection has been done for 3 weeks. We still have not heard from the bank. I was searching realtytrac.com this evening and saw the property is listed as a pre foreclosure with the amount $11k more than what we are in contract to buy for (I am not sure if this is what is owed or what the home was appraised at). Looking for advice on where to go from here. Should we offer the $11k more or walk? First time buyer, love this house and think it is a great deal... I do have both a realtor and attorney. My attorney is extreemly familiar with foreclosures but usually works on the sellers end. He advised me that it can be a lengthy process and that if I was really interested in the house to go ahead and have the inspection...not only to show the bank that I was still serious about purchasing, but also to know that the house was worth waiting for. My agent is not experienced with the process and neither is the listing agent. She made no mention of the financial situation in the listing, and the sellers attorney is almost completely non-responsive which may be because he may not get paid. And yes...my interest rate has already expired and gone up with my second round of locking it. Very frustruating.
purchasing a home going into foreclosure from a relative? Can a relative purchase a home from some who is in the process of a foreclosure or at a sheriff sale. I know someone who is in that situation and one of their relatives was thinking of purchasing it and there is a dispute that some where down the line they wont let them do to conflict of interest or something. I didnt think they would but im being told yes they can. can someone please help in the truth in this matter my friends parents are loosing their home. naturally they owe more than its worth and are unable to keep up with the payments so they are letting it go into forclosure do to now only having one income. I don't know if its the sister brother son daughter but someone was going to try and purchase the home at the sheriff's sale. they say anyone can buy it and wait out the redemption period and then they would own it. they were told anyone who can pay cash can buy it. but other people are saying no since its a relative. and they could turn a round and sell them back the home at the new price on a land contract. this way they could still keep their home. so this is the argument that is going on. So i wanted to know which one is it. I am thinking no that they will not let a relative purchase the home through a sheriff's sale. so far its a split decision some say yes and some say no this is why i wanted someone else input on what they think or know in this situation.
Can the bank take my primary home if my second home is in foreclosure? I have a reverse mortgage on my primary home in Los Angeles, CA and a vacation home in Big Bear city, CA. I have been delinquent on payments for my second home in Big Bear for several months now and the foreclosure process has now begun on my home. Can I loose my Primary home because of this?
capital gain tax on foreclosure home? hi everyone, I am in the foreclosure process and I was wondering If I have to pay capital gain tax if the bank auction my house. Do the IRS count the amount that was sold from my house as taxable income even though it the house was my primary resident for about 1 1/2 years? thanks
Aprx how long do I have to stay in home during foreclosure in Florida at this time? Our lender, (Wells Fargo) will not accept what we can pay at this bad economic time, so our home is up for a short sale and they have just begun the foreclosure process. I have been told by many that it probably won't sell right now in our area of North Port, FL. I am wondering how long the whole process will take to forclose. (we just got our first notice, 20 days to respond). I've even been told by the process server that most are taking almost a year, He said to stay as long as we can as foreclosures are taking 6 months to a year. Does anyone know about how long we have until we must move out and How much notice will we have to vacate if the full forclosure goes through without a sale of the home?
Do Banks Keep Equity In Foreclosure Process? This might be "far fetched" since a seller with any equity would be better selling short. But assume someone has a significant amount of equity in their home and just can't sell it to anyone. They can't make the payments anymore and so the bank does what they do. If they are lucky enough to make a profit after all legal and other fees are covered, does the mortgage holder get the difference?
I want to buy a foreclosure home? I was looking at homes, and i was wounding if you explain this to me at the bottom. (This was listed under the house) This property is a Notice of Default. This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. This 1958 square foot property has 3 bedroom(s) and 2 bath(s). The estimated loan balance is $38,615.00. so want does this mean do i just have to pay of the loan to own the house or what? Im only 18, so don't call me stupid, because i only know so much about the house market
Clearing a title for a foreclosure home? What are some reasons why it takes so long to clear the title of a previously owned home. I know that if there are certain liens on the property it may delay the process of it but are there other reasons? Also how are liens cleared?
Want to buy a home in foreclosure in NC but I have questions? I'm aware of the 10 day waiting period during the auction process. Today is the last of the 10 day auction period and tomorrow the bank will hold the title to the property outright. Is it better to bid the 5% over the banks buy-in price and have the 10 day process start over again and take the chance of an upset bid OR wait until tomorrow and work with the bank directly and take the chance of the bank playing hard ball and raising the price significantly?
Can a charter 7 bankruptcy stop foreclosure and for how long? My bank will start the process of foreclosure my home. Can charter 7 bankruptcy stop the process and for how long?
How long can I stay in my home after filing bankrupcty? My home is in foreclosure and I just filed bankruptcy. I know the foreclosure process starts again after this. Does anyone know approximately how long it might take before I have to move out?
Will a foreclosure hurt my Air Force background security check? I've been hired into the US Air Force Reserves. I'm default on my home mortgage payment, but the foreclosure process has not started. Will a foreclosure on my record hurt my chances of getting into the US Air Force Reserve? I am hired as a pilot; therefore, will be going into the USAFR as an officer.
Home Foreclosure question? I was wondering what the time frame is when you when receive a notice that your property is in foreclosure. Does the bank come and lock you out of your home? What is the process? I live in the state of Illinois.
My home is in foreclosure and set to be sold on Feb. 3. How can I get a loan for the reinstatement fee? I got behind on my mortgage payments because I had a baby and there were complications. I was in denial about this whole process until it is to late and my mortgage company will not work with me. The only way I can keep my home is to pay the reinstatement amount but I have no way of doing that. Is there some way I can get a loan for that before my house is sold?
help...My home is going into foreclosure? how can i stop it ? I'm a few month behinds on payment and i need to reduce the monthly payments too.. please help i unsure how far into the foreclosure process I'm in ... i fear i my lose my home...in live in the state of Florida in the south Florida area Plz help... No scams or fraud real help
how long does it take for a house to complete the foreclosure process? how many months of nonpayment before i should expect the sale of home
Will an insurance company insure our home if there is a unpermitted cottage? I'm in the process of buying a foreclosure home (Saratoga,CA, can't transfer the insurance since it has already lapsed) that has a detached unpermitted cottage (2 bedrooms, kitchen, bathroom and living room total of 900 sq ft), the main home also has a unpermitted converted garage that is used as a in law quarter (separate entrance and full bathroom), it also has a unpermitted sun room too. I really love the home and tried looking for home insurance but it looks like no one will insure me. Is there anyway I can get insured for this property without having to lie about these unpermitted additions to the insurance company? Any advice would be appreciated and any suggestions which insurance company would insure me for a reasonable price. Thank you in advance.
How does the foreclosure process work in Florida? I purchased a townhome two years ago that has lost 25% percent of its value and is not expected to rebound even when the rest of the market finally does (newer townhouses have been built around mine since then; its price has finally just stabilized to where it probably always should have been -- from $200,000 down to $150,000). Instead of eating $50,000, I'm considering just letting my home go into foreclosure. How does this process work? Do I just stop making my payments? I'm obviously aware of the affects to my credit score, but are there any other things to be concerned about (wage garnishment, etc)? I just want to know all the facts so I can determine if this is really the best thing for me... I do not currently live in the home. I relocated to a new city for business shortly after buying it, so I currently live in a property I rent elsewhere.
Buying bankruptcy or foreclosure home...which is best? Hello, I am very interested in purchasing a home. I've heard of bankruptcy and foreclosure homes. Could you tell me the difference between the two and which is best to purchase. I am in the process of rebuilding my credit as well. Where can I get a loan? I've check with HUD but not sure if that is the best route. Any suggestions please reply. Greatly appreciated for taking the time to read. Thanks!
Foreclosure Process in Florida, I need help!!!? I live in Lake county Florida in the city of Leesburg. I believe my home is in pre-foreclosure. I need to know how long I have to get out or what the process is. I have already talked to the bank and I am not able to pay for it any longer my mortage went up $300 more a month. Does any one know the process? If it helps my mortage is thru US Bank. I am sorry Ii forgot to mention, my home has been on the market for the past yr I have it for sale now a SHORT SALE as a matter of fact and it is 9K less than I owe, I had a family look at it on Feburary 27th but I haven't heard anything yet. The house belongs to my boyfriends father and he doesn't care fot it any longer he plans to move back to Mexico here in the next month. I live in the home with 2 kids and due for my 3rd in 1 month so I can not afford the mortage.
I found out that the mortgage company was in the process of foreclosing on my home. They had a default judgmen I found out that the mortgage company was in the process of foreclosing on my home. They had a default judgment entered by the clerk of court after no response from me. (I never was served, but thats another story for another time). I go to search online and low and behold I notice something that peaked my attention. The second mortgage company had just received an assignment of mortgage from my previous lender. (Dated 1 day before the default/foreclosure hearing before a judge and 53 days later after submitting foreclosure papers to the clerk of courts office.) WTF???? 1) How in the h*ll did they have the right to start foreclosure proceedings against me when they never had the loan properly assigned to them? 2) How do you obtain a default judgment against a borrower whom you yourself do not own the loan? 3) Am I to take from this that the first & second lenders dropped the ball and never proceeded thru the proper channels, which in turn allows me to have any default judment dismissed, seeing that the lender never had AUTHORITY to process any foreclosing proceedings? Would their oversight give me the chance to start over? *IF THE FIRST LENDER SOLD THE LOAN WITHOUT THE SECOND LENDER BUYING THE LOAN, BUT ALLOWING THE SECOND LENDER TO MAKE DECISIONS, TAKE PAYMENTS W/O THE PROPER STEPS, THEN WHAT ARE MY REAL RIGHTS? I tried so hard to work with the second lender since they were indicating that they were over my loan. They refused to budge. If I had know all along they really never owned my loan, I could have maybe with the lender who actually still owned my loan. Thanks for any replies.
Does the bank have to pay for the water heater in the basement if they are selling a bank foreclosure home? I live in Massachusetts and I am in the process of buying a bank foreclosure home. The inspector said the heater isn't working so he won't pass it... so I am trying to get the bank to take off $5k off the house to cover the cost for installing a new one. The agent is the middle man and he said that the bank won't take off anything.... Should I take his word for it or is the bank suppose to put in the heater in order for the inspection to pass? I'm a first time homebuyer so I have no clue. I'm taking a first time homebuyer class in a week but I just wanted to get some opinions on this.. Thanks.
In the event of foreclosure of a home is the landlord allowed to collect money from the tenant? rented a home from a woman who presented the house through a reality company as being avaialble for 12 month lease. Within the first week I moved in a mortgage loan collector came to the door, and said he had been to the property for several weeks trying to give notice, but the property was vacant. My landlord 2 weeks later came to me, and confirmed that the house was in the process of forclosure, and that my family, and I have to leave. Up front I gave her $1175.00 for security, and $1175.00 to the leasing company she listed the home through as first months rent counted to their comission ( I moved in the 10th of OCT and my prorate was to be paid in November). My landlord returned my security, and check for my 2nd month's rent uncashed, but I believe the reality company is also responsible for presenting me with a lease that was never valid, and should return the money I paid to them, and then they go after my lanlord for commiting fraud. Yes my husband will contact a lawyer, but we prefer not to sue, and just curious what others believe my legal rights are in this matter. The house was already going under forclosure AT THE TIME we were signing the lease our landlord just thought she could get out of it by renting out the home. Also I think the reality company is at some fault for presenting us with a false lease - they didn't check teh status of the property THEY wer representing, and DI NOT inform us that they don't chekc teh status of tehir clients or properties before they offer a lease to us - I'm not saying they shouldn't get paid, but my lanlord should have the loss not me considerign she scammed us, and I am out A LOT of money having to move again - not asking her to pay for anything other then the money she wrongly collected in the first place. my typing sucks sorry for spelling errors I don't get it why do they conartists always win? I didn't pay ot live in a house that was being forclosed apon, and I DO NOT want to live in a hous etaht is going through forclosure I dont care if they like me to live here on free rent I don't want to I just want the money back so my children can be in a stable reliable living situation. I have a son with autism as well who doesn't adjust to change eaisly, and the stress of moving again is going to be a great struggle after just moving 3,000 miles away, him learning to adjust to this new place - It is just not right at all. I fell taken advantage of, and its not fair to my family.
Is my home my principal residence if I moved out in April 07 and it was foreclosed on in April 08? I lived in the home 2.5 years prior to moving out. I was trying to work with the bank and was scared they were going to evict me, but it actually took a full year for the whole foreclosure process to happen. I am trying to figure out if I will qualify for the Mortgage Forgiveness Act tax relief.
Is there any legal recourse to buy a home that goes into foreclosure after starting escrow.? We made an offer on a house that was a short sale. After two months of waiting, we received verbal acceptance of the offer from the banks involved, and entered escrow. After paying for the home appraisal and going through the home inspection, the primary lienholder released their payoff amount which turned out to be much higher than was discussed due to the owner not paying his mortgage and penalties being assessed. This put it out of reach for the owner to pay off and has prompted the bank to begin the foreclosure process. This property was a shortsale because of a second mortgage on it, the first bank that now wants to foreclose would be able to get all of its money back minus the penalties if they go through with the deal. If it forecloses there is no way that they will get an offer as high as the one we put in, never mind the extra time and resources required for them to process the foreclosure and assume utility bills. Is there any way to get into this home without delay?
How does a foreclosure on a home in NC work? Someone I know is having her home foreclosed/auctioned on Tuesday, in Charlotte NC, and I may need to help her find info fast. How long will she have to get her belongings out of the house if the sale/auction is to take place on Tuesday? Will she have to move her stuff out by Tuesday? Or will she have at least some time to get her stuff together and move out? I've already advised her to start packing and moving everything already. I also found a place that has great storage, but need to find manual labor to move the stuff out for her. Any suggestions on finding manual labor to move her stuff would be appreciated as well. Does anyone know the process? for NC specifically would be awesome! Thank you in advance. :)
Foreclosure in California. My house is in the foreclosure process.? My question is, once the lender sells the my home in an auction, are the lenders required to give us a certain amount of days notice for us to move out? Or will they just come and lock up my house? I know a couple of years ago lenders had the right to come and lock up the house even with your stuff still in it without notice. But with the market today, I need to know if they will give some type of notice? And if it is required for them to do so?
I live in Florida and the bank just filed for foreclosure. How long do I have to vacate my home? I received the papers 2 weeks ago that our bank is foreclosing on our home. I have not received any additional information, but we are not fighting the foreclosure. The truth is we can not afford our home due to my husband's job loss. How long do we have before we are evicted, and what is the notification process for this eviction? Can they just show up unannounced and throw us out? I am clueless. Thank you.
My home is in foreclosure. I have filed a Chapter 7 bankruptcy. However, thinking of switching to Chapter 13 t Home in foreclosure.Filed chapter 7 to walk away. But thinking of switching to chapter 13 to keep home longer to get a sale. Any suggestions? Anyone familiar with this process. Also, it's hard to even find rental b/c of credit rating at this time, thought about selling to investor to rent back. Is that a good decision?
how does foreclosures work and how long does it take how is the best way to prolong foreclosure? how does foreclosures work and how long does it take, how is the best way to prolong foreclosure if i fall behind on payments any tips and advice is welcome. someone told me that if i make one of of every three payments that could delay the foreclosure process for years is that true or false. also i have my home on the market will the bank let me slide on the payments until the house is sold i have a few hundred thousand dollar left over after the sale that i dont mind paying my past due payments its just right now i am unable to make them. any advice to have is great thank you the home is located in new york , i figured i would add that because im sure the laws change from state to state
In chapter 13 bankruptcy after the lender is granted the stay do they have to start the foreclosure process.? I am filing chapter 13 and including my home. After the lender is granted the "stay" do they still have to go through the whole foreclosure process. I am in SW Florida and am wondering how long I have in my home. It seems lenders are taking up to 18 months to foreclose. Does it go faster if you file chapter 13. Will I be served foreclosure papers and know of up and coming court dates after the stay is granted. I am trying to figure out when I have to be out of my home and if I receive the foreclosure papers and auction dates then I will have an idea. We live in SW Fl and lost our jobs because of cutbacks and are trying to figure how long we have to save to find a new home for us and our 3 kids. Any advise on the above topic would be great. Thanks
In foreclosure process are the homeowners responsible for paying mortgage company money after foreclos procedu Does mortgage company sell home outright or is it always auctioned off?
How should we go about buying a foreclosure? My boyrfriend and I just got approved for a mortgage, and we would like to purchase a foreclosure. (a home in our price range is not large enough for all of our stuff). What is the process for buying a foreclosure, can we still have a showing? What's the difference in process??
How long do you have to wait to purchase a home after a short sale or a foreclosure? Can someone still qualofy for a loan if they are in the process of a short sale? Qualify sorry for the typo...
home buying process? I'm a first time home buyer and I am trying to buy a home in NYC. I already got a preapproval and I have found the home that I wanted which is a foreclosure. I will be getting the inspection done in the next few days, but have a few questions about the rest of the process. My realtor said that the inspection needs to be done before the bank sends out the contract to the lawyer? Is this normal procedure? When do I call the mortgage people to move forward with the loan? Is it after I get the inspection done? Thanks for the help.
Has anyone ever boughten a foreclosure property? My boyfriend and I are going to start saving money to buy a house. Today I was looking at the houses for sale online and a link to foreclosure properties came up. The prices for the foreclosure homes are super cheap. For example a house built in 2004 with 5 bedrooms and 2 bathrooms for about $20,000. Does anyone know if this is true or what is the process of buying a foreclosure property?
I have a home that is currently in pre-foreclosure. My husband did not purchase the home with me, he signed? off rights to the home. However, they are sending mail with both our names on it and naming him in the process. what does this mean? I purchased the house alone, why are they also naming him? Does this mean that he could possible have a foreclosure, too, even though none of his credit information was used to purchase the home. Please help... we live in Illinois; what does the Ilinois law state in reference to this?
If the house I rent is in foreclosure can legaly get out of lease without being penalized? The home that I rent has just begun the process of foreclosure. Can I legaly get out of my lease before the house is taken or due I have to fullfill the lease. There has not been a date of sale set but it's in the process.
Need help on purchasing homes through foreclosure? I'm interested in purchasing homes through foreclosure. I know nothing about the process. I visited my local courthouse today and looked at homes on the foreclosure list; but here are my questions: does a person bid on the property? with whom do you speak about (any) taxes or leins and whatever else is owed on the property? who is actually selling the property: my county? the bank with whom the loan was defaulted? if there's a resource online, it would help. i don't want to get burned.
When will I really know the asking price of a foreclosed home? A house next door to me is currently in pre-foreclosure. The listing price is $440,000 which I assume is the balance on the loan. However, this house has been vacant for about 4 years and has been completely gutted. The inside consists only of framing. The outside stucco is deteriorating badly and the roof is falling apart. There is no way they are going to get $440,000 for this house. If the foreclosure process continues, at what point will I know what the bank is going to ask for it?
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