Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Helen asks…

How does one obtain information on homes that ARE NOT in foreclosure YET?

Meaning, I want to seek out homes/homeowners that may be in arrears with their property taxes and are at risk of losing their property because of the back taxes owed. Specifically, New Jersey homes?

Your Questions About Foreclosures

The Expert answers:

County courthouse.. They list all houses that are in the beginning of foreclosure.. Keep in mind though, that once put into foreclosure.. It takes maaaany months to actually be foreclosed on.

Your Questions About Foreclosures

Joseph asks…

is it a good idea to buy a foreclosure home, In Southern California?

First of all, is it a good idea to buy foreclosure homes. And secondly, is it a good idea to buy a foreclosure homes in southern california? I know the house in So cal are off the chains expansive but foreclosure pricing is good but i heard it’s a bad idea to to buy a foreclosure homes.

Your Questions About Foreclosures

The Expert answers:

It is always a good idea to purchase a property below market value in any part of the United States not only in Southern California.

Now that being said it further is only a good idea if you know what you are looking for and how to go about buying a pre-foreclosure. If you do not have the knowledge or a mentor to purchase pre-foreclosures then it is always a bad idea, because things will become complicated, you and the seller will become angry at each other and the transaction probably not go as you planned.

In Southern California pre-foreclosures are the same as any other, except the amount of money required to cure the foreclosure or aquire the foreclosure for your own use will cost you a bit more, where in other places you are speaking of anywhere from a few thousand dollars and in Califronia you are speaking of several thousand dollars.

You may purchase foreclosures in any housing conditon up or down, you just have to know your craft and know when and what and what to buy as well as holding time to be good at this or any other field you want to be successful in.

Buying foreclosures is like the stock market those that know what they are doing survive and those that don’t well they are now working at wal-mart or are real estate agents complaining about how bad the market is.

I suggest that if you want purchase pre-foreclosure then go to a book store and purchase a few books on foreclosures, buying and flipping or just plain distressed properties. These books will give you the knowledge that you will need to be successful in this business. You might find a few of them at your local library.

I hope this has been of some use to you, good luck.

“FIGHT ON”

Your Questions About Foreclosures

Paul asks…

How does one obtain information on homes that ARE NOT in foreclosure YET?

Meaning, I want to seek out homes/homeowners that may be in arrears with their property taxes and are at risk of losing their property because of the back taxes owed. Specifically, New Jersey homes?

Your Questions About Foreclosures

The Expert answers:

County tax records. Check with the property tax office at the courthouse. There are people who are on constant watch for properties in arrears on taxes then buy and sell and make $$.

Your Questions About Foreclosures

Nancy asks…

How does Deed-in-lieu of foreclosure works for second homes?

I’m current on my mortgage payments however, beginning April I won’t be able to make payments. What are the Tax and other consequences. Sorry I didn’t state the question correctly before. Thanks for your help.

Your Questions About Foreclosures

The Expert answers:

This will not happen. They will have to foreclose and you will still owe the money, investments are not subject to bail out.

Your Questions About Foreclosures

Susan asks…

I it possible to purchase a califonia foreclosure home for less than 50,000?

My sister an I have been thinking about purchasing a foreclosure home, unfortunately we were only approved for a 45,000 mortgage loan( and we have 2,000 saved up). We have been searching online and we saw many homes with a remaining loan balance under 10,000. Under our understanding, a hopeful foreclosure buyer pays what the previous owner owed and other taxes and fees. Would this add up to more than 100,000? Or how does this process work?

Your Questions About Foreclosures

The Expert answers:

I recently helped a friend buy their first investment house, it was 89k (in CA).

I do not think you will find anything that you can buy for 50k. You might find a small house for that price. However, it has to pass an inspection and be livable for your bank to agree to finance it. Those kinds of houses are cash only investments.

Has you “online” been Yahoo real estate? I do not know why this is allowed, but many agents put the remaining balance of the first as sales price…and do not mention there is a first.

Email me where you are looking and I will see what I can find for you. I am excellent at finding bargains. I am pretty busy though, so do not stress if I do not get to it until the weekend.

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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