Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Maria asks…

In Florida can the mortgage company garnish my wadges, should my home go through foreclosure?

Your Questions About Foreclosures

The Expert answers:

If you have a “recourse” mortgage, then the lender may sue you personally after taking the property, but only if the property: 1) fails to sell for the amounts owed at auction; and, 2) the lender is NOT the highest bidder. If the lender does go after you, it is possible your wages could be garnished.

Even if you have a recourse loan, which is uncommon, most lenders will not bother to go after you. Most people have little left after foreclosure; what’s the point of spending thousands of dollars suing someone who cannot pay?

Your Questions About Foreclosures

George asks…

Good website to find beach front foreclosures in Florida?

I’m looking for a foreclosed home/condo in Florida that’s on the beach. So before paying for a list of foreclosed properties, I want to know which website is most reputable and which has the most beach front properties (it seems the majority of them are not on the beach)
Thanks!

Your Questions About Foreclosures

The Expert answers:

Have you tried realty company websites such as as Century 21?
They will clearly state if the home is in foreclosure

Careful of foreclosure list scams out there.
Their lists are old (sometimes a year old)
You plan to buy a home without a realtor?
A realtor has this information at their fingertips, and will make sure you are not overpaying. Sometimes you are better off buying from a desperate seller that is going through a short sale, or just needs to get rid of the property. Banks don’t always give away homes

Your Questions About Foreclosures

William asks…

Foreclosure happening in Florida – when do they have to leave?

Friend’s home has been in foreclosure in Florida for about 17 months. 31 days ago a Motion for Final Summary Judgment was filed – wherein I know this means the Order can be entered at anytime. How long do they legally have to get out of the house after the order? I would say now but they don’t believe me. What will happen if they don’t leave soon – the law knocking on their door? Tried to google this to no avail. Is it normal that they would set up the sale/auction date in the Order for Final Summary Judgment or does that come later?

Your Questions About Foreclosures

The Expert answers:

Ownership doesn’t change until ten days after the sale date. The sale date is normally stated in the final judgment. Even then the sale may not take place for various reasons and have to be re-set. Ten days after, the new owner MAY obtain an order of possession or assistance to order their removal. Suggest they contact the lender or auction bidder & try to work out a rental arrangement. Such arrangements are very common these days.

Your Questions About Foreclosures

Thomas asks…

Who would I contact to lease a foreclosure home in Palm Beach Gardens?

Trying to find a bank or site to lease a foreclosure home. Leased one in P.G.A.National before but it went into foreclosure while I was leasing it. Palm Beach Gardens,Florida. Can fix up leave on the market for bank with a 60 day move out clause.

Your Questions About Foreclosures

The Expert answers:

I doubt you will find any. They don’t need the money or liability and a 60 day move oput clause will discourage most buyers, that is too long for escrow.

Your Questions About Foreclosures

Helen asks…

what happens if you dont write a florida foreclosure written response to the courts in 20 days?

I don’t want the home at all anymore, but I don’t want to pay anything. What will happen?

Your Questions About Foreclosures

The Expert answers:

If you don’t answer, the bank will file a motion for default judgment against you. The judge will usually grant this, since your failure to file an answer is treated as if you don’t disagree with anything the bank has said in the complaint.

You don’t have to pay anything, as the home will be scheduled for a sheriff sale, at which time the house will be sold to pay off the judgment. Usually, though, homes do not sell for the total amount owed, as there are few buyers.

After the sheriff sale will be the eviction process. If you’ve already left the house, the eviction won’t really affect you. But if you are trying to remain there for as long as possible after foreclosure, make sure to keep on top of the process so you know when to move out.

Hope that helps.
ForeclosureFish

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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