Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Laura asks…

We need to move out of our house that is in the process of foreclosure but having a hard time finding a home?

We are having a very hard time being approved by prospective landlords because of our credit history. We had a bought of hard times last year and got “behind” and have filed bankruptcy and now our home is being foreclosed on in three weeks. We really need a home to rent. We have money saved up for first month and deposit, but no one will give us a second chance to start over.

Any advise?

Your Questions About Foreclosures

The Expert answers:

I thought they could raise a monthly rent a little bit and still rent to you even if you have a low credit score. Maybe you can negotiate in different terms like offering automatic deductions from your bank, etc. Good luck. We are looking to find a rent as well and trying to decide whether to get it before or after we stop making mortgage payment that is too high for us to handle.

Your Questions About Foreclosures

Linda asks…

How Long is a foreclosure process in Monroe County Pa I have been living in this house for so far 5 months?

without paying anything.. And I recieved a letter that said i have until september october until the bank can do something it didnt say they were. It stated anytime after that period..

Your Questions About Foreclosures

The Expert answers:

Some lenders are slow to exercise their option to foreclose. As long as the lender has not foreclosed, they are not responsible for the taxes, utilities, HOA fees (if applicable), etc.. I had a mortgage officer tell me she feels the lenders are slow to foreclose because they are waiting to see if the owners get back on their feet and start paying again.

You will receive plenty of notice when the auction is going to take place and you have to be out.

Your Questions About Foreclosures

Mark asks…

Can someone describe the foreclosure process in Illinois if a builder cannot make the payments on a spec house

interested in the steps and timelines, plus what happens if there is a balance still owed after the foreclosure sale. thanks for your help!!!!

Your Questions About Foreclosures

The Expert answers:

It depends on your situation. Are you the builder or a home buyer?

Your Questions About Foreclosures

Ruth asks…

Does filing bankruptcy just prolong the foreclosure process? If you file bankruptcy will your house Still…?

Ok, so unfortunately we are so far upside down on our house because of this crappy economy…and not to mention there is a TON of work that needs to be done on our home. We bought the house 2.5 years ago and were blindsided by the crap that has happened to it! It needs about 20K worth of work done to it, so even if we could fix it we would never get the money back out. The neighbor hood has gone down hill really bad…drug dealers moved in next to us, a sex offender behind us, and we are on a MAJOR road, which was ok when it was just my hubby and I but now we have a baby. my question is, is filing bankruptcy just slowing down the foreclosure process..meaning if we file to get out from our house (have been told foreclosure is worse than bankruptcy by 4 different ppl) are we filing to get rid of our debt only to have the house foreclosed on anyways? No bashing please trying to make a hard decision for our family. We dont want both on there. Thanks for all the help!

Your Questions About Foreclosures

The Expert answers:

If you are filing bankruptcy but your mortgage payments are up to date, chances are your house will not be involved, and could be foreclosed on later, if you do not keep up the payments.

If there is already a foreclosure case filed, and you file bankruptcy, the bankruptcy court will “stay” the foreclosure, to stop the foreclosure from going through until they can sort out all of your debts/creditors. Once the bankruptcy court sees that you have no equity in your real estate that could possibly be used to pay off other creditors, they will file a “relief from stay” with the court where the foreclosure is taking place.

I hope this helps.

Your Questions About Foreclosures

Thomas asks…

Where does my grandmother’s house stand in the foreclosure process? How long until eviction?

Hello. I live with my grandmother in a house that had a reverse mortgage done to it a few years back. It was done under my grandfather who passed away in 2008. Usually when the borrower (my grandfather) dies the loan has to be repaid in full, but nothing has ever been repaid except property taxes. To date, me and my grandmother have been living here without hearing a word from the company or lender. This changed in mid-December 2010 when foreclosure papers arrived.

My county’s (Miami-dade, Fl) official website lets you track down docket information for cases online. I have a snapshot of the case dockets (aka a summary of the case) which you can see by clicking the link below. I just wanted someone to more-or-less translate the status of the house by looking at this information. Exactly where does this house stand in the foreclosure procedure and ‘how long would you say we are going to be officially ordered to leave from today?’ I think it was about one and a half to two months ago that a letter arrived saying they were trying to find someone to represent the interests of the house because the foreclosure papers came for “unknown heirs and tenants.”. Here is the snapshot of the dockets:

http://oi53.tinypic.com/2epkgh5.jpg

Your Questions About Foreclosures

The Expert answers:

Stephen, have you spoken to other foreclosure specialists who just deal with foreclosures????????????? You and your grandmother need to hang in there. Knowledge is power. Here’s an informative article on tips to avoid mortgage defaults, and one of them includes what you are doing–realizing and not ignoring that you have a financial crunch, which you seek the fix:

http://yourhandymanzone.com/Your_Handyman_Zone_How_To_Pages_Real_Estate_Zone_Buying_Your_House_Mortgage_Default_Avoid_Foreclosure.htm

Get a hold of some foreclosure professionals. Hope you find this helpful, particularly on how to utilize resources available to get your mortgage modified or at least fixed to avoid any potential foreclosure, and that you get through your financial troubles.

Good luck!

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Source(s):
The Internet. Just whatever is available online and what I have on my mind, including the inclusion of relevant sites, like the one cited above that came into existence from my efforts, which is intended to be useful. Helping people get the relevant info they want is great.

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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