Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Mark asks…

Where can I get help to save my home from sheriff’s sale due to foreclosure?

My husband became disabled nov. 2006. I work 2 jobs to make ends meet, but have not been able to make mortgage payments. Sheriff sale is set for Jan. 29 2008. Can anyone help me? Please! All I want for x-mas is to save my home.

Your Questions About Foreclosures

The Expert answers:

Do you have an attorney? You may want to contact the Law Office or the bank that is handling the foreclosure. I am going through a similar situation. I was told that most foreclosures take anywhere from 6-8 months. You might be able to set up a paymet plan with the Bank or something, due to you situation with you husband. I would contack an attorney, if you don’t have one, just in case!! Maybe you could try talking to your local congressman/woman or look for information on the internet about the procedures of foreclosures in your area or(state). Good Luck

Your Questions About Foreclosures

Mary asks…

1 out of every 500 US homes have recvd foreclosure notices …?

-I read an article a couple of months ago which stated 10 out of a 100 were at risk for foreclosure – Is this the beginning of the housing fallout or is this the end and things get better now ?

how many homes are for sale on your street and is that a normal amount or higher than normal?

have you had to cut back lately or do you feel like you are spending the same amount but buying less ?
why didnt politicians keep the federal reserve in check and why are they still not ?
here is the article that was a source for the question
http://biz.yahoo.com/ap/080710/foreclosure_rates.html?.&.pf=loans
I would like to note one thing that is a very important fact a lot of people seem to be missing -RATES ARE VERY LOW AND HAVE BEEN FOR QUITE SOME TIME NOW -Why are all these foreclosures still happening?????

Your Questions About Foreclosures

The Expert answers:

It’s just a ‘Mental’ problem we are told by McCain’s Top Econonmic adviser and we should qut whining.

Http://blog.washingtonpost.com/the-trail/

The better educated the buyer you are the better off you will be. Yet, you should not require an MBA in Finance to buy house.There is a lot of predators out there – check out the FBI home Page:

http://www.fbi.gov/

There were regulations protected lenders, banks, & buyers in place until Phil Gramm, McCain’s Top Economic Adiser pusher through some legislation in 2000 elimating public protection under the usual guise – cries from the right – “We can’t steal with all these rules”, – although the housing market had been working well throughout our history.

The result – Bear Stears $30 Billion government bailout on the backs of Tax Payers, a generally tightening of the market, legitimate lenders paying the price for the criminal CEO’s in their industry, and a major contribution to our current ‘Mental Recession’.

Incidentally, Phil Gramms wife was on the Enron Board at the time (2000) and used the ‘entraprenural’ opportunity to bilk CA out of $40 Billion in unregulated energy trading. The same loophole being used today to ‘pump us’ every time we stop at the gas pump. Thanks Phil! Hope thinks work out in your new job w/McCain.

Sorry America, ya just got ta lower your bar so the Top 97% can get to the top 98% – urgently.

The lender thieves have no responsibility – they get bailed out at Tax Payer expense – plus what they make off the deal.

Your Questions About Foreclosures

George asks…

Rights for Tenant in Foreclosure homes in CA?

I am staying as a tenant in a condo in CA for more than a year. Currently I am on a month-to-month lease. This property is leased to me by Property Manager. Recently this home went to foreclosure and a notice is received from Trustees for auction in the month of July. However I have not been notified about the sale or the foreclosure till the notice is received. When I asked the Property Manager about my deposit, he says that the money will be refund only with a 30 day notice.

I want to know when should I vacate the property and what about my deposit refund. If the home goes for auctioning, what will be minimum notice period for the tenants on a month-to-month lease.

Your response is appreciated.

Thanks in advance.

Your Questions About Foreclosures

The Expert answers:

Unfortunatley, there is not much that can be done for you. If you stay, the cops will come and evict you like they do to the homeowners who could be living there. You may be able to file a civil claim for the deposit…but you really just need to leave soon and find somewhere else to live. Sorry… : (

Your Questions About Foreclosures

Carol asks…

Why are people still buying brand-new homes nowadays, despite the abundance of vacant existing ones?

A week or two ago, there was a report about a rise in new home sales, or something to that effect which benefits homebuilders. My question is, if there are so many foreclosures available, why would anyone want to have a new home built? It makes no economic sense. Real estate prices are about half what they were a couple years ago, but prices of construction haven’t fallen much at all. Existing homes, especially foreclosures, sell for pennies on the dollar with respect to what it would cost to build the same home today with new materials and buying land to build it on.

Your Questions About Foreclosures

The Expert answers:

You also have to take into account the types of foreclosures that are available. For instance, my mom has been looking for a ranch (1-story) home in good condition, and all of the foreclosures in our area are either really old (wood paneling, green appliances, etc.) or in disrepair, or if they’re in move-in condition, the prices are so high they might as well be new. So she’s looking at new homes because the inventory of the type of home she’s looking for is so low. She can’t even find a house with a master on main that’s a decent price, even for foreclosures.

There are so many baby boomers out there that are looking for homes, and buying a two-story home or fixer-upper just isn’t feasible, and that seems to be all that there is in terms of good foreclosure deals.
So you kinda have to look at new homes.

Also, purchasing a foreclosure, while seeming to be a good deal, is a humongous hassle, and a lot of times people don’t feel like being bothered. You put an offer on a home, and find out you have to pay to have all of the utilities turned on so you can do the inspection. Then you find out you have to pay for a water meter to be installed just so you can do the inspection, since the previous one was stolen. Then, appliances aren’t included. Air conditioning unit – stolen. Copper pipes – ripped out. Mold – everywhere. Roof – needs to be replaced. Carpet too. This has been the story at almost every foreclosed home I have looked at recently. The ones that are move-in ready end up in bidding wars, and the geniuses bidding on them don’t realize they’re bidding up to almost near the price of homes that aren’t foreclosures.

So if you have the patience, yes, get a foreclosed home. If you can, get an existing home. If you want something brand new, where you can pick every appliance, tile and countertop and someone else will handle it for you and you don’t have to turn over any money until it’s completed and you’ve done an inspection, get a new home. It’s all about personal preference. Do what you feel is right for you.

Your Questions About Foreclosures

Laura asks…

my home was sold at a foreclosure sale today. is there anything i can do to save my home? can anyone help?

i had been trying to work it out with the mortage company but that failed due to time constrants. any suggestions would be helpful. I don’t want more mortage compamies calling me alot of different compamies called me and attoneys. the bad thing is that i listened to one of them and that made the situation worse and the mortage holder didn’t work with me then. i don’t know if it sold or who bought yet but i really wanted to save my house. It’s not much, but i at least had a place to call home for the first time and my child finally had a home. This was the first year in the last seven she has been well and not in the hoospital. she is finally secure and happy. i don’t know how i will tell her i screwed up again.

Your Questions About Foreclosures

The Expert answers:

Your home is gone. It is too late to do anything. Why did you get so far behind in your payments? Where is the child’s father?

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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