Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Carol asks…

Why is my mortgage company not paying my tax bill when I have escrow?

My mortgage company (CITIMORTGAGE) is not paying my tax bill. The money is in escrow, the error has been spotted and documented in a case number by customer service.

I paid the bill myself, because it is over six months late and I risked being put on the TAX SALE foreclosure list.

Should I be worried that they are going out of business? Or is this a computer glitch?

Your Questions About Foreclosures

The Expert answers:

Are you signed up with the tax agency to use the escrow account? The company has to receive the tax notice to pay the tax. If you received the bill directly, then the tax agency isn’t sending the bill to the right address.

Your Questions About Foreclosures

Linda asks…

Where can I find out about properties that have been foreclosed on in my area without paying for the service?

Where do lenders list the properties they’re re-selling? Is there a notice in the papers when a foreclosure is happening? Are there legitimate auctions out there done by banks and not those scam companies that are only selling lists? Thanks.

Your Questions About Foreclosures

The Expert answers:

I believe two places to start would be your County Clerk’s office or Tax Collector’s office for Lien sales. You could also contact Banks to find out what properties they have foreclosure sales going forward on.

Your Questions About Foreclosures

Donald asks…

Bank Owned properties: How do I get information about REO for free?

I have found some houses that are currently bank owned (I assume a REO). I have found these through a site that lists pre-foreclosures, foreclosed houses up for auctions, and bank owned properties…
But it won’t list the address, or anything about when the auctions are, and I have no idea who to contact if I am interested in this house without paying for the service. Are these records listed for free anywhere? Can I go to the cityhall of the city the house is in? Do I have to go to each bank to find it out?

Your Questions About Foreclosures

The Expert answers:

Bank owed homes have already been through the auction process, no one purchased them at the auction. That is why the bank now owns them.

You may call most of your major banks to see if they will provide you with a list, but I think you will find this fruitless as most banks now list their bank owned properties with a real estate agency for them to sell. Therefore if you are looking for a bargin there are few even if the house is in need of minor repair, because the real estate agency want to earn the maximum commission even if it means the house will be returned to the bank if it goes un sold.

Pre-foreclosures are listed at the county court where you reside, you have to go through each property to find several that you might be interested in.

The properties listed at these sites you find are teasing when they show a property but not the address or contact information. Most with the contact information is to real estate agencies, because that is who the bank has contracted to sell their property.

I find that the best way to locate people that are in pre-foreclosure is to select an area in your city that you want to invest in or reside. This area should contain at a minimum of 5,000 houses or more.

Make a letter or flyere stating that you purchase foreclosed property paid for or not and that you pay all cash and can close within 14 days. Get this letter ran off at Staples or Office Depot or any other copy place. Make sure you sign the original unless you want to sign each one individually. Make sure you have a telephone number listed on the letter that can be reached 24/7 even if it is an answering service. The telephone must be answered or at least a message saying you have contacted the person that purchase foreclosures,please leave a message.

Send these letters to the area you have selected to work. You should send them a letter at least once per month. I find it better if you walk the area and put the flyers on each door. Please do not place them in any mail box. This is illegal. If you have children they might be of help to you. Don’t forget to reward them. Once you have walked the area for about three months with your flyers, you should consider making a newsletter to mail. Check with the United States post office near your for bulk mailing fees.

You might also go to the commercial areas and see if some of the commercial shops will allow you to place this same letter in their shops. You may purchase holders for your letters at Staples or Office Depot. Go by these shops that allow you to place you literature in them at least twice a month to change your letter and insure that you holder is clean and the letters are not all bent causing your flyer to look bad.

I would also suggest you purchase a few books on foreclosure at your local book store. There are several good books on foreclosure. You might also purchase one of the midnight real estate gurus course. They will supply you with several forms as well as some techniques to use. They also have scripts to use when you are called. Use them for what they are worth. No one is gonna give you thier house free with no money down. That is not what that means.

I hope this has been of some help to you, good luck.

“FIGHT ON”

Your Questions About Foreclosures

Lisa asks…

Where on the internet can you go to get a list of government foreclosures?

There are any number of services that will give you a list of government or private foreclosure properties. I am sure they are not paying for the information but they want you to pay them for the info. Where do they get their lists of these properties?

Your Questions About Foreclosures

The Expert answers:

Check out here:http://www.hud.gov/homes/homesforsale.cfm

Your Questions About Foreclosures

Lizzie asks…

What do you think about yet another “historic” accomplishment from Obama?

States reported a surge in the number of initial foreclosure notices, a sign banks might be moving forward with foreclosures delayed by documentation problems.

The foreclosure listing service RealtyTrac reported a 33 percent increase in default notices from July to August. It’s the biggest month-over-month increase since August 2007, and the 78,880 default notices nationwide represented a nine-month high.

http://www.oregonlive.com/business/index.ssf/2011/09/spike_in_default_notices_may_s.html

Your Questions About Foreclosures

The Expert answers:

Obama is an affirmative action poster boy that has helped ruin this nation as much as any politician can claim.

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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