Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Mandy asks…

How do I learn about foreclosure auctions in my ares and the specification of what is being offered??

As I understand it, there are plenty of homes going into foreclosure right now. I just don’t know how to find out about them. I live in Jacksonville, FL. Thanks!
Any advice is welcome.

Your Questions About Foreclosures

The Expert answers:

Go down to your local courthouse and ask the clerk where the list of foreclosure auctions are posted. Next go to the list and write down all the numbers to the properties you are interested in. Take your list of numbers back to the court clerkand they will pull the files for you to look at. All the information is there for you. If you decide to try and trackthemdown online you will be disappointed as auction dates change and they may have not had time to update online.

Your Questions About Foreclosures

Lizzie asks…

How can I buy a foreclosure with nothing down?

I want to invest in a foreclosure. I have the income to support the payments, but don’t want to put anything down.

Your Questions About Foreclosures

The Expert answers:

You can’t. The smallest downpayment is 3.5% with an FHA loan. With an FHA it can be a gift from a family or friend as long as you can show where it came from.

Your Questions About Foreclosures

Donald asks…

How do you become a foreclosure consultant?

I heard this was a pretty interesting business and soemthing I may enjoy doing. For those who don’t know what a foreclosure consultant is. Basically, if someone is evicted from their home for missing home equity/loan payments, then then the bank usually hires a contractor or a consultant to give the home a price tag. Does anyone know how to become one of these guys and what required training is needed?
JJ Sotiera:

You must’ve mistaken me for some kind of moron. You didn’t even answer my question. I don’t know of any system or anything, especially one worth hundreds of thousands. I was simply asking what companies (for example) I would talk to about becoming one and what education is required.

Your Questions About Foreclosures

The Expert answers:

Real Estate fundamentals and Real Estate practice classes, take the state and federal Real Estate exam, Pass both, get hired by a local Real Estate Broker, call mortgage companies and banks- should take about a year. Good luck

Your Questions About Foreclosures

Paul asks…

How can a person repair their life after foreclosure?

Good friends of mine went into foreclosure do to the housing market in Central Valley California. They were not able to get their home refinanced because the home had loss value, due to this they were forced to go into foreclosure. Can they ever get back on track after going through this?

Your Questions About Foreclosures

The Expert answers:

Sure they can. It will take time and credit smarts. No running up huge credit card bills. Move out of California. Before you know it, it’s going to fall into the ocean. I see houses being demolished everyday on the news. I don’t think it is smart to sink any money into anything in California.

Your Questions About Foreclosures

Mark asks…

What should a person expect when purchasing a foreclosure home?

How does one deal with a foreclosure? Is the buyer allowed to look inside the house and should one go to bank if interested in buying a foreclosure home.

Your Questions About Foreclosures

The Expert answers:

Buying a foreclosure from a lender is generally the same as buying a conventional purchase, except that they are nearly always sold ‘as is’ by the lenders. A thorough inspection is recommended, either professionally or by trusted friends who know what they are doing.

You are expected to either pay cash or finance this purchase as you would any other home purchase.

If you are contemplating buying directly at the sheriff’s sale of the property, be aware that the lender will have a representative present to insure that any final bid exceeds the amount owed to the lender on the home by the defaulting seller.

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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