Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Lisa asks…

Why does the pink duct tape on the windows of many foreclosed homes mean?

Many homes in our area that are either foreclosed or in the process of foreclosure or for auction have a small piece of pink duct tape on the window.

Your Questions About Foreclosures

The Expert answers:

Have not seen that.

The two most common things I have seen on windows of foreclosed homes have been #1 The notice that it has been foreclosed and often winterized.
#2 sometimes a home inspector marks a window that has lost it’s “seal”. This is often with a dot of tape. A bank doesn’t usually have a house inspected but a potential buyer could have and then backed out.

Your Questions About Foreclosures

Mandy asks…

How do you go about looking at foreclosed homes with potential to buy?

Hubby and I are thinking about buying a new home. What’s the first step to look at foreclosed homes? Do I call a bank, a real estate agent, or do I have to pay one of the web sites online (e.g. www.foreclosure.com)?

Your Questions About Foreclosures

The Expert answers:

You call the local realtor. That is where lenders list the homes for sale

Your Questions About Foreclosures

Ruth asks…

Where do I find foreclosed homes and bankruptcy properties?

My friend told me that you can purchase a home by finding a foreclosed or property where the owner has declared bankruptcy. Supposedly he paid $5000 in back taxes for a new home, and then it was his. Where is the best place to find these properties?

Your Questions About Foreclosures

The Expert answers:

Your friend would still have to pay the mortgage, unless the property was sold at a tax sale. It is difficult to buy a house at a tax sale (and have it in good, livable condition). Have you tried searching the internet?

Your Questions About Foreclosures

Jenny asks…

Is there any foreclosed homes that will allow you to pay it off monthly?

I am looking to buy a foreclosed home. The only problem is that I can’t afford to pay over $100,000 all at once! I was just wondering if there were any places that would allow me to pay monthly. And I already know the dangers of a foreclosed home. I am ready for repairs, and problems that might come about. And I am going to have it inspected well before I buy. So could anyone give me websites or any help? Thank you.

Your Questions About Foreclosures

The Expert answers:

It’s called a mortgage. You’ll get plenty of spam emails offering you one.

Contact your bank or other local lender and ask them to walk you through the process.

Your Questions About Foreclosures

Joseph asks…

Which banks hold the most inventory of foreclosed homes?

Between all the major banks (Citibank, Bank of America, Wells Fargo, Chase, etc..) which ones hold the most inventory of foreclosed homes?

Your Questions About Foreclosures

The Expert answers:

I believe it is JP Morgan by a landslide (no pun intended)

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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