Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Laura asks…

Can a homeowner that is short selling her home put the home fixtures up for sale? i.e. Air Conditioner, etc?

We have an offer in on a short sale home. We’ve stayed in contact with the homeowner as when we first viewed the house she told us she might want to sell us some of her things as she was leaving the country once the sale was over. Well long story short we called her yesterday and come to find out she’s basically stripping the house to the highest bidder. Things like the Oven, Central Air Conditioning unit, etc. I read up on this and have obviously found out this is downright illegal when it comes to FORECLOSURE homes…but what about with Short Sales? I mean she is technically still the owner of the house right? She hasn’t removed anything yet, but she is on the brink. I honestly think she just doesn’t realize what she is doing and is just trying to get some extra cash…but at the same time I feel it really isn’t right either. Should I notify the Banks/Listing Agent who is doing the short sale? (I am dual Represented, the listing agent is our agent too)Should I say something to her myself? Any advice would be appreciated. Thanks for your time….

Your Questions About Foreclosures

The Expert answers:

Your contract should state what is included if your offer goes through. It should have said under included personal fixtures, such as appliances, what is left in the house.

Your story is not unusual, and if you don’t already have one, have your agent write an addendum saying what you expect to be left in the house and that final purchase agreement will be contingent upon a final walk through on closing day by the buyer. (YOU)

Your Questions About Foreclosures

Lisa asks…

Where can you access public records for homes going up for foreclosure auction in California?

I am looking for a website or directory that holds all of the homes coming up for auction sale that are under default of loan/foreclosure. One of my properties recently fell through getting a short-term loan mod, so I was hit with a local realtor letter. In the letter, he specified that my loan has a Notice of Default posted, with an auction date a few months from now. Where did he get this information?

Your Questions About Foreclosures

The Expert answers:

The county tax records, you can actually sort them by foreclosure activity, including the default.

It is also public record at the court house, but a realtor likely got the information from the tax records.

Your Questions About Foreclosures

Steven asks…

can a home be saved from foreclosure on sale date?

I’ve been trying to get a loan modification since last August, and ever since I’ve been in contact with my lender for updates. last month i received a sale date notice only giving me 15 days from the sale. I called my lender, and he confidently said the sale will be postponed. However today I just found out that sale will still push through because I didn’t qualify– and it will be sold today!!

Can I still postpone it ? how ?

Your Questions About Foreclosures

The Expert answers:

You’ve been in loan modification 7 plus months and you just find out today you don’t qualify? Sounds like your lender has been leading you on. Too late to stop the sale but in most states you have the right of redemption. If you can come up with the funds you can buy the home back during the redemption period.

Realtor.sailor

Your Questions About Foreclosures

Michael asks…

How do you get out of a mortgage by doing a short sale without being in foreclosure ?

Because of decreasing property values and lots of homes in foreclosure in my area, we would like to get out of our current mortgage. We have no late payments and are not in danger of defaulting on our current loan, but it is interest only and houses are on the market (exactly like ours) for half of what we currently owe. Does anyone know how to do or have you done it ?

Your Questions About Foreclosures

The Expert answers:

If your not in foreclosure why would you want to ?

Even if your lender would agree to it, which is doubtful, they will ding your credit for 7 years and which if your employer does semi annual credit checks could dismiss you from your job because of it then you would still have to pay the income tax on the amount.

I ask you again why would you want to ? You bought a home based on what you could afford and decided to make it a home for you and your family. Do not worry about the rest of the world. Convert it to a fixed rate and enjoy

If you purchased a box of Bran Flakes at the grocery store last week, enjoyed half the box then they were on sale the following week would you go back and get a refund on the half you did not eat yet ?

Your Questions About Foreclosures

Betty asks…

MY HOME HAS A FORECLOSURE SALE, WOULD IT BE POSSIBLE FOR ME TO HAVE MY FATHER BUY IT, SALE DATE IS IN 40 DAYS?

Your Questions About Foreclosures

The Expert answers:

It can happen in a New York second. All you need to do is get the the pay off information from the bank and have your father get a loan, if necessary. Your lender simply wants to get paid. If a contract for purchase is in place, the sale date will be nullified.

Powered by Yahoo! Answers

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