Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Charles asks…

house just foreclosed – how do i buy it?

i submitted an offer for a short sale house recently, but it turned out it was too late. the seller was willing but the bank had started the foreclosure already. i am still interested in the house, but is there any way the bank can sell it before the foreclosure is ratified by the state (which may take anywhere from 3-6 months)?

Your Questions About Foreclosures

The Expert answers:

No, it is illegal for them to sell it to you without offering it for sale to the general public. They are required by law to follow certain guidelines, one of which is listing in the MLS and giving at least 48 hours to receive bids.

Your Questions About Foreclosures

Sandra asks…

Liberals: y did the Democrat control congress approved the FORECLOSURE BILL by voice votes then pretended to?

be all blind and stupid when question?

By Jennifer Liberto, senior writerOctober 7, 2010: 5:56 PM ET

WASHINGTON (CNNMoney.com) — President Obama won’t sign a bill that could have made it easier for courts to clear foreclosures, the White House said Thursday.

The bill would have required federal and state courts to recognize documents that were notarized in other states.

Both congressional chambers approved the legislation by voice votes, a move used for noncontroversial bills. The House passed it in April, and the Senate passed it Sept. 27.
lise t

typical liberals …. always wanting to be unpaid English teachers

Your Questions About Foreclosures

The Expert answers:

No one knew that foreclosures were being signed and approved without even proper documentation or anyone looking to see if it was a legitimate foreclosure.

This is a bank failure, not a govt failure.

Good for Obama.

Your Questions About Foreclosures

Steven asks…

what are the tenant rights when the house you’re renting is going into foreclosure?

So my parents has been renting this house and last week they got a notice stating that the bank now owns the house and that the owner hasn’t been paying the mortgage for some time now. The paper says that they have to move out of the house by the end of November 2008. My parents talked to the owner of the house and they said that it was a mistake and that they should not move out. Even if the house does get auction off, if no one buys it, they can still live there. But, I know that if they don’t get their things out by the end of November the bank will change the locks and anything that is left inside the house will be in their possession. My parents kept all of the payment receipts made monthly on the house. So as a tenant, can they do anything about it? They didn’t get a 30 days notice – so that leave them a very little amount of time to look for another new place. Not to mention, my parents are in section 8 (low income) and they do help pay $300 a month for the house too. My parents are paying $900. Can my parents call section 8 and can they help them, since they’re paying for the house too? Any help will greatly be appreciated. Thanks in advance.

Your Questions About Foreclosures

The Expert answers:

They have to leave, the bank is not allowed to let them stay. Banks are not legal landlords.

They are entitled to a 30 day notice though, bank owned or not.

Have them call the housing authority and explain the situation. The housing authority needs to transfer the voucher anyway. They should (at least they do in CA) pay your parents security deposit on a new place under these conditions.

Do NOT, under any circumstances let your parents try any stupid stands against the bank. They will loose, not only this, but they will loose their voucher. An eviction disqualifies them from the program. They need to cooperate.

HelpMeEscrowStuff doesn’t know what he is talking about and his advice will really cause your parents serious problems.

Your Questions About Foreclosures

Paul asks…

What rights do tenants have if a house they’re renting is taken over by the bank (landlord not paying mrtg)?

We found out a week ago that our landlord wasn’t paying mortgage on a house he leased us, and it’s up for foreclosure, some huge company took it over, and are evicting us, giving us $500 to get out in 9 days and clean the house up for them. It’s unfair and quite frankly insulting: they’re basically kicking us out without a care for whether or not we find a new place, and paying us the $500 so that they don’t have to go through the trouble of hiring a cleaner to clean up the house. They’re also acting a bit suspicious: we can’t find out the new owner’s name, contacting him through a realtor he hired, and they are absolutely set on us getting out by a certain date, and we suspect they don’t even own the house yet (it’s in preforeclosure state now) – could they be trying to evict us before they even own the house? Do we have any rights if we’re still in the house when they buy it? Are they trying to get rid of us so it’s empty when they do buy it and don’t have to work with us?

Your Questions About Foreclosures

The Expert answers:

They cannot force you to be out in 9 days no matter what the situation is.
If the house is in PRE foreclosure they do not own the house.
If the house is going into foreclosure your lease applies and only your LANDLORD has the authority to evict you based on whatever your lease says and on the laws of your state.
If the house has been foreclosed the new owner can evict you through your state’s legal eviction laws. An eviction is a legal process, you go to court and the judge has final say. You should start looking for a place to move to because in the end that is most likely what is going to happen. Would you want to rent from someone who has already treated you badly? You should show up for court if they evict you. The judge may give you some time to move out. Good luck.
If you have paid your rent and they want you out in 9 days the $500 they have offered is nothing more than a return of your rent! You are gaining nothing by agreeing. If they cannot prove that they own your rental unit do not agree to anything with them. Keep your current landlord in the loop. They could be scamming both of you.

Your Questions About Foreclosures

Robert asks…

If a home was owned by the deceased who left the house to the trustee, with other trustees in the trust?

Okay ill be as detailed as possible. Say and elderly woman, had a trust. The trustees of that trust were her 3 kids, one, who is the TRUSTEE of the trust, and was left in charge of everything. Another one of the children, passed away, leaving theyre shares, to theyre ONLY child. Then the last child included. The home was kept after the passing of theyre mother. Never disputer. Never fought over. UNTIL after 16 months have passed. The 16th month passed, the last of kin in the trust, was on drugs and in and out of prison. [with proof from parole officer] he then obscounded from parole and then left state. Soon following shortly after theyre flee from the state, they retained a lawyer forcing the trustee to sell the house, giving false statements to the lawyer. It has now been 5 years since the passing of the original owner of the house. [mother of trustee] The daughter of the child who had passed away lived in a different state, never paying or contributing ANYTHING to the home that entire 5 years. Nor, had the other child who had fled state. The trustee of the home was making 2000 mortgage payments EVERY month for 5 years on theyre own struggling to keep the house from going into foreclosure. The child forcing the trustee to sell the house got their wish and the house is almost closed in escrow. Now, the 2 attourneys and the daughter of the late trustee, now fight over who gets what from the house being sold, which, after the mortgages were paid back left 52,000$ from the house being sold. The TRUSTEE, had been making the monthly rent payments, paying the bills, and keeping the house out of foreclosure on theyre own with NO HELP from the other trustees. I understand that if the house is sold the other trustees are entitled to theyre share. Now, the other lawyer involved is now trying to take everything from the original trustee of the property who has been living on the property for 5 years paying out of theyre own pocket for all the bills and the other two trustees havent paid anything. They lawyer of trustee “C” says trustee “A” owes trustee “C” back rent from trustee “A” for all the months they have not lived on the property. The daughter of the late trustee “B” is demanding for theyre FULL third of the proceeds from the property. It is to my questioning the trustee “A” should take the full third, IF NOT MORE THAN A FULL THIRD, for theyre efforts to keep the property, for it was never an agreement or a misunderstanding of wanting to sell the house after the original property owner had passed. Trustee “C” waited 4 years after the death of theyre mother to take action in selling the house without speaking with Trustee “A” about it first. What is your opinions on this case? Professional opinions please.

Also, it is to my understanding, that Trustee “C” also, is acquiring that they recieve more than all the trustees due to the fact of not living in the home for 3years and 3/4 of a year, even though, it was theyre decision to run from the police to escape prison, but is still fighting for theyre share on the property. its a huge story, and a very confusing one at that. Please share your opinions.
Thank you for your response, It is not I that is going through it, I’m writing a report for my politics class [: Thank you.

Your Questions About Foreclosures

The Expert answers:

None of this is relevant.

The house was left to the three kids. One of the kids died, leaving his share to his next of kin.

When the house is sold, each of the three heirs gets a third.

Too bad that one of the heirs sunk a bunch of money into the property – there was no demand from the will that called for that to be done. Split it up, go your seperate ways, and learn from the experience.

– Stuart

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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