Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Chris asks…

Can i send mail to an empty house?

A friend and i want to order some items that our parents cant see. Can we fill out fake information to a foreclosed home? Or a home for sale?

Your Questions About Foreclosures

The Expert answers:

Yes

Your Questions About Foreclosures

Donna asks…

Consequences of destroying foreclosing home?

Although you can get a good deal, I keep hearing that you can get a bad deal if the home is intentially trashed by the foreclosed owner. I saw youtube videos of foreclosed owners who tear out pieces of the home to sell and, when they are done, the home looks terrible in the inside.

My question is: Are there any consequences for foreclosing owners who destroy the property, and is there any way of stopping them?

Currently in my city (SJ, CA) there are many short sales and forclosed homes. I also keep on hearing that sometimes the seller’s lender of short sale homes won’t accept the highest bid (reasonable lower than asking price) and let the home go into foreclosure. Do they take into account that the home could be trashed afterwards and they could have a bigger loss on their hands?

Your Questions About Foreclosures

The Expert answers:

The only thing owners (or ex-owners) are allowed to remove are non-fixed items like furniture, personal belongings.

Fixed items such as fixtures, countertops, cabinets etc. Are not allowed to be taken. There have been several examples made recently where people were charged with destruction of property/theft for destroying/removing these items.

Yes, there are consequences.

Your Questions About Foreclosures

Mary asks…

How Low are banks willing to go on foreclosed home?

I am looking into buy a foreclosed home. The asking price is $154,000. The home was built in 1790, and is need of a lot of work. It’s a 7 bedroom 2 bath, and has always been my dream home, and because it JUST went up for sale, I’m trying to jump on it. How desperate are banks to lower the price? It has been vacant for many years, so I was thinking of maybe saying $70,000 and hoping for the deal of a lifetime. What do you guys think?

Your Questions About Foreclosures

The Expert answers:

Well, my husband and I bought a 3 bedroom, 2 bath house with about 1150’ish square feet (NOT A FORECLOSURE) for around $90,00. It is about 10 years old and in good shape.

There is a house at the beginning of the road (we live in the cul-da-sac) that sold in 2007 for around $88,000 (I worked in real estate and had access to the MLS). It is about the same square footage as ours, less one bathroom. The person who bought it lost the house probably 6 months later and the bank was trying to sell it (in bad shape cause the morons trashed the place apparently) for around the same price! One of our neighbors said their son made a low ball offer on the place when it first went for sale because of the condition it was in and the bank laughed at it and rejected it.

Well, they probably should have accepted that because it sat on the market for about 6 months and they kept lowering the price and lowering the price and I am almost certain it probably sold for around $40,000. I got laid off from the real estate biz in December, so I am not sure. I do know that I kept close tabs on it because some friends of mine might have been interested and the lowest it went while working there was around $50-60,000.

So yeah, they probably won’t accept your “low ball” offer it just being put on the market, but it’s possible it may sit on the market for 6 months or more and going down in price periodically.

Your Questions About Foreclosures

Paul asks…

What papers do I need to file with the court to fight the fore closer and now the sale of my home?

I was notified Friday that GMAC Mortgage had foreclosed on my home, it was up for sale in 45 minutes and then 2 hours later that it had sold. we were given a 3 day notice to vacate the premises we have not received any paperwork from my Lender or my so called Attorney who was suppose dto hand the load modification. B. Diego Hellewell.

Your Questions About Foreclosures

The Expert answers:

The foreclosure already happened. It is a done deal. If you can prove you were not behind in your payments and it was a mistake you can over turn it. But just because you were trying to modify your loan you are not protected from foreclosure. A foreclosure can ONLY happen if you are refusing to repay your loan.

Your Questions About Foreclosures

Ken asks…

Is it legal in MI. for a purchaser to rent out a vacant foreclosed home during the redemption period?

I live in Michigan and want to rent a home. I found a guy who said that he would rent out this home that he purchased at a Sheriff sale. He said that there was still a redemption period that allows the original homeowner to pay what they owe and get their house back. I was wondering if it is legal in Michigan for him to rent out the house to us during this redemption period?

Your Questions About Foreclosures

The Expert answers:

First of all NO he can’t do that because technically he doesn’t own it either! It has to go thru the redemption period first. I would alert the local authorities to this guy. Because about renting a house, you want to make sure the the person you are renting form is the legally owner, and #2 that he is paying the mortgage on time. There have been any number of people on here asking what they can do because the place they just rented is being foreclosed on. The county assessors office can tell you who owns the property, if it is good standing with the lender, that no notice of default has been issued and who the lender is. All good stuff to know before giving someone your hard earned cash.

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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