Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Mary asks…

Los Angeles County How can I find out if a house is in foreclosure?

As a tenant, I am renting a house that I believe to be in foreclosure, but the owner will not tell me, as he prefers to collect rent. Is there a way, via the internet, that I can ascertain this information?

Your Questions About Foreclosures

The Expert answers:

Since you know the owner’s name, check with your local Clerk of the Courts – that’s where foreclosures are filed. (Some are available on line.) Check for court actions against your landlord.
If you find a document called a “lis pendens”, that means foreclosure has been filed.

Realtor.sailor

Your Questions About Foreclosures

Linda asks…

Anyone have information on buying a house that’s in early stages of foreclosure?

My mom’s neighbor couldn’t keep up with her payments and her house is in the early stages of foreclosure. I want to buy the home for a little more than she owes(so I don’t think this qualifies as a short sale) I got pre-approved for the amount at the bank. What is my next step? I know there needs to be a contract. Does it matter if it’s an attorney or a realtor that provides us with the contract? And who is responsible for choosing an attorney or realtor and who is responsible for the fees.. the buyer or the seller? I asked my banker and she said she wasn’t sure in this circumstance. Thanks for any information I really appreciate it!

Your Questions About Foreclosures

The Expert answers:

Hello,

If the house is for sale than there is nothing else to do but to make an offer. I would contact an attorney and have him to prepare a contract. As for the attorney, you can have yours and she can have hers so you are both on the safe site. As for the fees, your neighbor will be responsible for most of it, you will have to pay your attorney fees.

Your Questions About Foreclosures

Michael asks…

Am I bound to a lease in the state of CA if the house I’m renting is in foreclosure?

Am I obligated to pay rent on a house I am leasing in CA if the house is currently in foreclosure and going on the auction block next month? I’m told conflicting information. I’ve heard I’m bound to the lease I signed and other people tell me that in the state of CA the lease is void if the house is in foreclosure. Any help would be appreciated. Thank you.

Your Questions About Foreclosures

The Expert answers:

The lease is not void, it is as valid as the day you signed it. You are still legally bound to pay the rent until AFTER the auction.

You stop paying on the day of the auction and you have 30 days to vacate to avoid legal problems.

If you owe any money for unpaid rent the landlord can still come after you, you will still owe and it will look like an eviction (even though it is not, you illegally kept his money) on your credit report.

CA allows landlords to collect for 1 year with a collection agency, then apply to garnish your wages.

Your Questions About Foreclosures

Ken asks…

I am trying to buy a foreclosure house. Does anybody knows of a FREE website, with pictures and details?

I would like to invest in a Foreclosure home and would like a website that I do not have to insert any personal information or credit card information. Is there such a thing?

Your Questions About Foreclosures

The Expert answers:

Banks do not sell their foreclosures (REO) directly. They are listed with Realtors. You need to enlist the aid of a Realtor that represents buyers. It won’t cost you anything because the seller pays the commission through the listing agent. A buyer’s agent has your best interest in mind, where a listing agent’s job is to get the best price for the seller.

Realtor.sailor

Your Questions About Foreclosures

Susan asks…

What are the rights for a tenant who has just found out the house they are renting is in pre-foreclosure?

A gentleman who rents another home from our landlord brought us information he and his wife had found on the internet that showed the house he is renting and the one my family is renting are both in pre-foreclosure. The owners are denying the houses are in pre-foreclosure when this gentleman asks. They won’t return our phone calls. We live in California and are unsure about what pre-foreclosure means and what California real estate laws mean when translated into common terms.

Your Questions About Foreclosures

The Expert answers:

U can contact a storage place and start packing.
When the house goes into foreclosure, u will not get notice.
When it is foreclosed on and sold u will not get notice.
Depending on ur state laws u may have as little as 24 hrs to 30 days to get out.
Contact the bank about its status.
Start looking tomorrow to rent else where.
Ur lease terminates at foreclosure or sale.

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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