Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

Mandy asks…

Was it GOP policy or the foreclosures that caused the economic mess?

I see several people on here blaming GOP policy for the past couple of years for the mess we are in. Hate to say this, but the foreclosures were the driving force behind this problem.

Banks, thanks to the CRA, were forced to loan money to people who could not afford a house and they got into bad loans. Fannie and Freddie sold Govt Secured Mortgages that were worthless. So this all comes back to the problems of the mortgage loans.

Love how you guys still want to blame Bush for everything.

Your Questions About Foreclosures

The Expert answers:

It was the foreclosures that put us in this economic mess. Of course it was liberals policies that made the foreclosures happen in the first place, but liberals have very short memories and it’s easier for them to blame Bush and republicans rather than accept responsibility for their own shortcomings.

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.” Home ownership is not an unalienable right.

“We the People of the United States, in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defence, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.” It is not the Federal Government’s job to provide everyone with a house.

Your Questions About Foreclosures

Joseph asks…

Can a agent get commissions from Foreclosures?

I am currently a NYC real estate agent, my brokerage never dealt with foreclosures before. I found a foreclosure that one of my buyer wants to participate. Am I entitled to a commission? Do I get the commission from the bank?

Your Questions About Foreclosures

The Expert answers:

Yes, it should be on the MLS listing sheet. If not, then ask them what the comm is.

Your Questions About Foreclosures

Michael asks…

What are the benefits or drawbacks to expanding my home search to include FSBOs and foreclosures?

How does the buying process for foreclosures or FSBOs differ from homes sold by agents?

Your Questions About Foreclosures

The Expert answers:

Foreclosures are easy and straight forward, except there are no disclosures, it is buyer beware.

You have the same buyer beware problem with FSBO, although there are disclosures you have people who are not always sure of the laws. You will also find they want more then the house is worth, one reason they refuse to pay an agent.

If you go FSBO make sure you have an very through inspection and an attorney present when you sign anything.

Most FSBO sales end up in court, usually because a law was broken.

Your Questions About Foreclosures

Nancy asks…

How to find foreclosures in southern california?

I’m trying to find foreclosed homes, but the trouble I’m having is every website I look at makes you sign up for a 7 day trial thing. Normally I would sign up for it then just go to a different one after the 7 days are up, however they all require you to put your credit card info in…and I’m not about to do that. So is there a website that is completely free or do I just need to find the foreclosures from a Real Estate Agent?

Thank you!

Your Questions About Foreclosures

The Expert answers:

I use realtytac it gives the primary info for free but if you want the exact address of the property you have to pay. A way to get around that is to find the property on realtytrac and then call a realtor and get the exact address. No credit card is required. And you receive updated list by email.

Your Questions About Foreclosures

Ruth asks…

I want to try some real estate investing how do I get into foreclosures?

I know the market is doing really bad but I know alot of investors are making alot of money off of foreclosures.How can I have a piece of the foreclosure pie?

Your Questions About Foreclosures

The Expert answers:

I am buying them too.

There is absolutely nothing different about buying a foreclosure then buying a regular home, other then there are no disclosures.

Procedure is the same, you need to get yourself an agent and get your financial paper together (banks will not even look at offers unless you can prove you can pay for it first).

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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