Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Laura asks…

What Are the Best Websites for Home Buyers?

I know about Realtor.com and websites that specialize in foreclosures, but are there any sites out there that provide a mix of homes–from “regular” for sale homes to foreclosures, pre-foreclosures, short sales, FSBO etc?

It is difficult to find some of this info in one place. Since I have limited time to devote to looking for a home, I would appreciate any suggestions! I’ve worked with both “regular” agents and a buyer’s agent and found that I was still having to do all the looking up on my own.

Any help would be greatly appreciated.
Forgot to add we have a Pre-Qual letter from a lender. I know they are not worth much but after we supply the detailed info he has asked for, then if we qualify he will give us a pre-approval letter. But it’s a start.

I really thought a buyers agent would help more in trying to find properties but it seems he gets involved once we go to look at one that I’ve found. Very thorough and knowledgeable guy but wish he would help more with finding properties in the first place.

Your Questions About Foreclosures

The Expert answers:

A regular agent should have helped you much more.
They have this information at their fingertips.

Sometimes agents will not show you respect if you are not a pre-qualified buyer.
Get your letter from a bank by making an appointment and getting a pre-approval letter.
It costs nothing to do this.
First get your credit reports – of course at
annual credit report. Com
Reports are free – always have been – no credit card required.

The reason realtors will give you the cold shoulder:
Many people go looking for a home, only to find out at closing they do not qualify for a mortgage.
This devastates realtors – all that work for nothing.
Get that letter – and watch a realtor show you 24-7 attention.
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Your Questions About Foreclosures

Paul asks…

Is my home in foreclosure?

So I just moved into a duplex and signed a 12 mon lease. Today I was leaving for work and an appraiser came up to me telling me he was there for an appointment. I work in home mortgage so I kind of knew why he was there but I asked him. He told me the home is up for short sale and he was there for the 10am scheduled appraisal. ONE- my landlord did not inform me that the appraiser was coming, isnt he reqired to give me notice, my neighbor didnt know either. TWO – I know typically with a short sale the home is probably in foreclosure, is there a way for me to look that up? THREE – I just signed the lease, if the home is in foreclosure am I required to still pay rent, I live in Iowa. I really just need more information on how I can find out if the home is in foreclosure?
FYI – THE MAN HAD KEYS TO THE HOUSE AND WAS PLANNING ON GOING INTO THE UNITS!

Your Questions About Foreclosures

The Expert answers:

Your home may or may not be in foreclosure Very often a lender will allow the owner of a home try and do a short sale in the middle of the foreclosure process. There is a good chance that the lender is unaware that the seller is trying to do a short sale.

Since you have a 12 month lease a short sale buyer will have to honor your lease. If the property is foreclosed on the lender is required to give you at least 90 days after the final completion of the foreclosure to find another place to live. You are required to pay rent to the owner as long has he owns the property.

Most states require a 24 hours notice under normal circumstance, unless there is an emergency to inspect the property.

You can go to a title company and find out if a “Notice of Default” has been filed against the property…meaning the property is foreclosure.

Your Questions About Foreclosures

Ruth asks…

If My home is in foreclosure can filing a chapter 13 save my home?

My husband & I were turned down today for an emergency mortgage assistance loan.And we have had several offers to buy our home from lawyers & realtors(I think that’s whe they are) but we want to try to save the house if we can would filing a chapter 13 give us an advantage to saving our home from a sheriffs sale & loosing all our belongings & home?

Your Questions About Foreclosures

The Expert answers:

What I would suggest you do is contact an Attorney that deals with bankruptcy. The laws have changed so much in the past year or so.

When you said you were turned down for an emergency mortgage assistance loan – are you talking about a loan modification from your lender? If you have not called your lender to work out a payment program you should – you never know.

Sorry about your situation – Tamara

Your Questions About Foreclosures

Donald asks…

2 question about home foreclosures?

im thinking of having one of my rental property get foreclosed because its costing me alot of $$ to keep, can the lender sue me or have my wages garnished?
also, if im going to have the lender ruin my credit, im thinking of taking advantage of the bargain prices of homes for sale and buying my dream home…..what would happen if i buy my dream home and have the lender foreclose on the one i live in now?
both homes are in california

Your Questions About Foreclosures

The Expert answers:

Since this is not your residence you will be liable for the entire amount you borrowed from the bank after foreclosure.

Yes, they can garnish your wages, but it takes about a year.

Your Questions About Foreclosures

Sandra asks…

My realtor shows no interest in selling my home for the past 2 years?

I just found out my realtors home is in foreclosure, he filed chapter 11 bankruptcy and has his home for sale which is identical to mine in the same neighborhood.
He is rude most of the time and it is not working out for me.
He recently asked me to sign a new contract but I don’t want to. What do i say to him?
I reduced the amount by $160,000.00

Your Questions About Foreclosures

The Expert answers:

2 years? You should have dumped them 18 months ago.

Tell them no, you are going to list with someone else.

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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