Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Joseph asks…

Can I buy a house if my current house is still in foreclosure processes?

I will be separating from my husband and we both currently live in a home that is in the process of being foreclosed on. I would like to buy a new smaller home, like a condo or something for $100,000 less that our current homes mortage value. Is it possible to buy a home during this time?

Your Questions About Foreclosures

The Expert answers:

No. They will see your credit report, see that you have another banks money that you are refusing to repay. Knowing how entitled you think you are to keep money loaned to you they will not be giving you any more.

Your Questions About Foreclosures

Donald asks…

How do you prevent a Foreclosure on a house?

We are making payments on a house to an Individual. We need $5,000 more. Our house is dated to be foreclosed October 3. What should we do to get out of this? The individual said he can’t do anything about it anymore since the foreclosure process has already started. We can’t get a refinance, because we are buying from an individual. We went to the courthouse and they said they couldn’t do anything about it. We went there because the individual recommended going there first.

Your Questions About Foreclosures

The Expert answers:

You don’t own the house?

There is nothing at all you can do, no one can even legally discuss this with you if you are not the legal owner.

Your Questions About Foreclosures

Betty asks…

A house in my neighborhood began the foreclosure process the end of 2007…?

This is in IL. It has been over 18 months. I thought the whole process lasted a year at most? This family is shady/drug/party types and my neighbors and I all look forward to the day when they move. Why is it taking so long?

Your Questions About Foreclosures

The Expert answers:

Illinois is a Judicial foreclosure state. This means it goes through the courts. I have worked in the foreclosure industry for 8 years and believe me there are many things that can delay a foreclosure. In a judicial foreclosure everyone has to be served. That means they have to locate everyone this can take a long time. Another thing can be there is a problem within the courts or the lender can not get a vital document in order to continue with the foreclosure. Also, they may be in bankruptcy which stalls the foreclosure process. Nothing on a foreclosure can be done while the homeowners are in bankruptcy. Chapter 13 bankruptcies can take years if they are staying current. Or perhaps they brought the loan current and it is no longer in foreclosure. There are many things that could have happened. There are so many variations of what can happen in a foreclosure it is impossible to list. Generally it should take no longer than 6 months but delays can occur and they can take a long time to sort out depending on the degree of difficulty. Basically, it could be a long time before they leave. Or if they are no longer in foreclosure, they may not move out.

Your Questions About Foreclosures

Mandy asks…

How long does it take for banks to foreclosure a house?

few months ago I lost my house and still in the process of foreclosure. what is the process time period? does any one knows. please Do not send stupid comments.

Your Questions About Foreclosures

The Expert answers:

Are you in the house?
Do you want to keep the house?
Have you been served with warrents?
What state do you live in?
How far behind are were you in your payments?
Who is your lender?
How much is your home worth?

Let me tell you from experience the bank dose not want to take your house. There are other options.

All these are factors
it can take 3 months to two years… It depends on those questions? Email me if you want to chat about it.

Your Questions About Foreclosures

David asks…

Is there any way to speed up the foreclosure process? My house has been sitting in my name for 3 years empty?

After no help with a loan modification or any options, we relinquished our property back to the bank and it has been sitting empty for three years and still not foreclosed on, however it is still in our names so we would like to move on but at this point cannot because the property is still in our names. We recently applied for a loan modification but were told because we do not live in the home that we were denied. If we have to wait three years after foreclosure to buy another home, this could take forever.

Your Questions About Foreclosures

The Expert answers:

There is no way to “speed up” the foreclosure process. There are houses sitting empty all over the country in a similar situation.

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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