Your Questions About Foreclosures | foreclosureorder.com

Your Questions About Foreclosures

Your Questions About Foreclosures

William asks…

Where can i find a free list of foreclosed homes in my area?

I live in NC and am looking for foreclosed homes in my area. Most of the sites I pull up on the net ask for your credit card # etc. Is there someplace that I can find out for free? Would the county courthouse be able to give me this info?

Your Questions About Foreclosures

The Expert answers:

Here is HUD:
http://www.hud.gov/homes/index.cfm

You have to know who is foreclosing? Some Banks buy the home at foreclosure price then turn it over to a Realtor to sell for them at a profit. The public never knew it was foreclosed.

Your Questions About Foreclosures

Mary asks…

Foreclosed homes listings? What organization is over Foreclosed properties?

I am really confused when it comes to foreclosed homes. There are many websites that have listings, but some have more than others in my city. How do I know when these foreclosed properties have sold? What is the best way to find available foreclosed properties in my area?

Your Questions About Foreclosures

The Expert answers:

There isn’t any centralized agency overseeing foreclosures. Foreclosures are conducted according to the laws of the state that the foreclosed property is in.

The lender files in court for foreclosure. Once it goes to the court, the house belongs to the lender. He then sells the house to recoup some of his cost of the mortgage and court cost to foreclose.

Foreclosed properties are listed with realtors in the area the foreclosure is in. To get an accurate list, call any realtor in the area you are interested in and ask for a list of foreclosures.

A Realtor will bend over backwards to get a list to you for free in the hopes of getting to make a sale to you.

The web sites that charge are scams. They get notified by the county clerk when an intent to foreclose is filed. The home may or may not go into foreclosure, or may have already completed foreclosure, been listed with a realtor and sold.

Your Questions About Foreclosures

Lizzie asks…

What’s the best way to find foreclosed homes for free in Michigan?

I’m trying to find out the best way to get information on foreclosed homes for sale in Michigan. I’d like to look at pictures, addresses, and other detail information and I’d prefer to find the information out for free. Anyone have an idea what the best way is?

Your Questions About Foreclosures

The Expert answers:

Contact a real estate agent that you would use as a buyer’s agent. This does not cost you anything. And, when the sale is completed, your agent is paid by the seller (the bank foreclosing). So, you have everything to gain and nothing to lose by securing an agent.

Your agent will have access to the multiple listing service (MLS) and can start searching for homes for you. The MLS contains all types of transactions and can be filtered by foreclosures in a certain area. Your agent can then e-mail the listings to you as a clickable list. You can then go through the listings and see if any of them interest you.

Your agent will also have access to confidential supplemental listing information via the MLS, as well as links to mortgage and tax history on the property. This can be very helpful to you when trying to determine an offer amount. Your agent can also show you properties that you’re interested in. And, having an agent prepare and submit your offer can make the difference in whether the banks even read it. Sometimes they have strange requirements for submitting offers and, if anything is slightly wrong, they just reject it out-of-hand.

Your Questions About Foreclosures

Linda asks…

why dont so many people have houses, when there are affordable foreclosed homes?

I recently discovered about the foreclosed homes for sale and i was really surprised to see the prices of them. It was between 100,000$-150,000$, which are not so bad at all for those houses. So i was wondering why are many Americans ( i am from europe) losing their houses and cant buy those affordable ones? OR there are many dangerous scans with foreclosed homes? Is it safe to buy a house based upon online websites of foreclosed homes? ( of course, we would talk and meet with those people in person)

Thanks for the opinion!

Your Questions About Foreclosures

The Expert answers:

I know that a lot of non-Americans think that Americans just have piles of cash laying around to do with what they please, but this is very very far from the truth.

To be able to buy a $100,000 house, the person must have good credit and income of at least $30,000 a year, and have decent debt. When the national unemployment rate 10.2% and many of those who are employed make very little money, it’s impossible for many people to get a mortgage.

Folks haven’t saved their money, haven’t cared for their credit, and have kids too early and without being stable. It’s impossible to get a loan to buy that home when this is the case.

Your Questions About Foreclosures

Donna asks…

Is there a telephone number I can call to get a listing of foreclosed homes?

Is there a telephone number I can call to get a listing of foreclosed homes in Washington County in Oregon and in Vancouver Washington? What should I expect to pay for a foreclosed home? I have seen many of them for $8K-$12K. Why would some one let their home go into foreclosure when they only owe $8K on it?

Your Questions About Foreclosures

The Expert answers:

You are looking at scams to get you to pay money.

A friend of mine paid 16k for a “list” today.

Called me after the fact.

Call a local real estate agent for a real list of real foreclosures, it is free.

Powered by Yahoo! Answers

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