Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Sharon asks…

Do renters have to let home be shown by real estate agents?

Rental home in foreclosure redemption for 6 mo, we are renters. Do we have to allow the LL to have a lock box put on house and have agents show house? He is saying although he didn’t pay the mortgage with the $$ we sent him for rent and he is losing the house, and is not paying his mortgage now, we have to keep paying him (for what?) and we have to let his agent show the home for sale. This is crazy.

Your Questions About Foreclosures

The Expert answers:

Tell your LL No way No How. Tell him to go straight to H*ll. As long as you are paying your rent you are the owner of this property and no one is coming in your home without you permission including him.

Your Questions About Foreclosures

Lizzie asks…

short sale / foreclosure?

What does it take for a bank to consider a shortsale? My home is for sale and I have made all my payment early and ontime. Will the bank consider a shortsale on my home?

Your Questions About Foreclosures

The Expert answers:

You have to supply them with your payroll and debts, PROVING that you can not afford to make the payments. Since you ARE making them it is going to tough convinving them you can not.

Your Questions About Foreclosures

Mark asks…

Where is a small country town with cheap houses for sale?

I have roughly 50gs i can spend on a house. I am looking at foreclosure homes any state but missouri. I’d like a small rural area, miles of country and woods, something like colorado. I plan on taking a road trip there this summer. Heading out from Kansas City Missouri. Please mention any small rural towns along the way.

Your Questions About Foreclosures

The Expert answers:

Pick any small town in Michigan.

Your Questions About Foreclosures

Thomas asks…

I am looking for a Company that will purchase my home via short sale and lease back with 2 year option to buy?

my home is in foreclosure and we have been tring everything to save it, we are able to make regular payments however the mtg co does not accept payments, we can not afford the arrearages on top of the current. so we are considering a shortsale with lease back opt to buy after 2 years with a portion of our rent going toward down payment. any info on this would be apprectiate. Thanks
we are in CT

Your Questions About Foreclosures

The Expert answers:

You’re looking at a BAD deal. After a short sale, you won’t qualify for a mortgage two years down the road. The short sale will appear in your credit file and most probably prevent any mortgage approval except one for usurious interest rates.

Furthermore, when you engage in a short sale, you will undoubtedly receive a 1099 Form at the end of the year requiring you to claim the shortage amount as income. Are you still prepared to make these mortgage payments AFTER your pending income tax bill ?

Your Questions About Foreclosures

Mary asks…

10 day notice after foreclosure sale…..do I get any more time than that/?

I lost my home to foreclosure, a common thing these days unfortunately. Today I opened a letter saying I unlawfully occupy the property and have 10 days to get out. I thought I got a visit to the judge and then maybe ask for 30 days at least.

Your Questions About Foreclosures

The Expert answers:

State specific.

I’d just get going. You knew it was coming,.

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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