Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Lisa asks…

Home short sale or foreclosure?

If you short sale your home and the value of the home is worth $200,000 less then you paid for it are you responsible to pay the difference?

Your Questions About Foreclosures

The Expert answers:

It depends, if the bank gives you a defienceny balance you wil owe them money and will have a note sign before the agree to shortsale the property. If they give you a non-defiecency balance you will owe nothing.

Your Questions About Foreclosures

John asks…

best website to search for homes for sale?

What is the best web site to search for homes for sale? I want to find regular, short and foreclosures. I don’t want to pay for site use either.

Your Questions About Foreclosures

The Expert answers:

The best way to search for houses is obviously on the MLS. If you aren’t a realtor, you can’t access the MLS which sucks. In Utah there is a website called utahrealestate.com which is ran by the Utah Board of Realtors and the WFRMLS. If your local Realtor group has a similar site, I’d say that would be your best option. Because it’s local, and you won’t have to deal with any advertisements, or junk on the webpages.

Your Questions About Foreclosures

Lizzie asks…

How can homeowners have their home value being protected?

One thing is foreclosure house keep rising. Whoever own the current home wouldn’t have their investment protect because it hard to keep value as same as what they invested.

Reason: with foreclosure in our next door in our neighborhood, we cannot keep value as it should be because foreclosure gonna sell for less to get it sold quicker while yet we cannot complete our home values against the foreclosure home.

What can lawmakers do about it? Can’t lawmakers simply pass laws required any foreclosure to be demolished to cut down completion against the homeowners to protect their home values. Or just place foreclosure homes sales on hold and cannot buy or sell for next 5 years. Which would force buyers to buy current full price value homes that are not being foreclosure.

Your Questions About Foreclosures

The Expert answers:

Laws forcing any foreclosure to be demolished? Who is paying for that? Why do you think your property value would be any better with a bunch of empty lots around it?

“Or just place foreclosure homes sales on hold and cannot buy or sell for next 5 years.” – this would artificially inflate home prices and they would just drop in 5 years when all the foreclosures come on the market.

Your Questions About Foreclosures

Charles asks…

How does foreclosure or short sale affect someone only listed on title of home?

I need to know if a foreclosure or short sale will affect my spouse’s credit. I am the only borrower on our mortgage loan. We are both on the title of the home. Will a foreclosure or short sale show up on his credit report since he is on the title of the property?? Again, he is not a borrower on the loan. Thx for any help!!

Your Questions About Foreclosures

The Expert answers:

Since he is not on the loan, it will not directly affect his credit. But he will be guilty by association

Your Questions About Foreclosures

George asks…

why is there not a large inventory of homes for sale?

On the vvmls site there is only 1 active regular sale to see. All the others are either contingent on short sales. I don’t understand how this can be when there are so many foreclosures & empty houses out there. We are trying to buy a home yet every time a home is finally listed & we put a bid on one we are going against tons of other bids. A house we bid on last week had 42 offers. Are they just waiting to release a lot of houses all at once?

Your Questions About Foreclosures

The Expert answers:

The problem is that we are not yet out of the recession and as we all know real estate has been badly hit recently. I am not sure of the price of the accommodation you are talking about but the situation is similar in the Laguna Beach realty as well. Although it is a premium market but there is an uncharacteristic drop in the sales and we all hope that things would soon start improving.

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Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures
Your Questions About Foreclosures

Your Questions About Foreclosures

Your Questions About Foreclosures