Foreclosures Help Information

Archive for June, 2008

VA Foreclosure Help

Question: Advice re VA foreclosure homes?

Anyone help on a couple of basic questions.
What is the condition of these homes generally, or is it not possible to generalise because of location differences?
Can I buy as an investor and more than one property?

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Answer: All the VA foreclosre houses are sold "as is", no warranties, and conditions vary with some well cared for. There is a VA Vendee Financing program with both veterans and non veterans eligible and it doesn't matter if you are an owner/ occupier or an investor. Main attraction is NO DOWN PAYMENT. Longterm 15 to 30 years, and I am told they don't use credit scores as a determining factor for approval.. There is no limit to the number of VA homes you can buy with this funding although you are limited to 5 active loans in a 6 month period. Just need to check it out though because it isn't available on all VA homes.

I am a retired realtor still dabbling in real estate investment and development, and an occasional contributor to the Discussion Board at http://www.foreclosuredatabank.com/board

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Foreclosed Vegas Homes

Question: Can my husbands ex go after him for more child support because she is going broke?

My husband's ex is going broke. She stopped working in 2006 was collecting work-mans comp. Then she took a settlement and after taxes she receive sixty thousand dollars, last year. She was living with her father and the house is foreclosing, now. She no longer has any money from that. Welfare won't give her cash aid, food stamps or medicaid for the daughter. Because she went through 60k in one year and doesn't have the receipts. She did admit that she gambled 6k in Vegas in 4 days. She did get an apartment from sec 8. but now her only income is from my husbands child support 75 dollars a week. I am a stay at home mom, with two children. My husband works and we are receiving food stamps, medicaid for the boys and wic to make ends meet. We live in different states from his ex and daughter. Any advise!

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Answer: The amount of child support that an ex spouse pays is based on the amount of money they make. For her to get more money from your husband, he has to either get a raise or change jobs causing an increase in his pay. I know of someone who's ex took him to court every time he got a raise so that she could get more money. I wouldn't be too concerned. A judge would never give her more money just because she is going broke. The amount of money she gets will always be based on the amount of money your husband makes. And just so you know, if you ever get a job, your money would not be counted if she tried to get more money from him. They can not include a new spouses income in determining the child support to be paid to the ex spouse.

How to Find Out if a Las Vegas Home is in Foreclosure Online

Icici Bank Foreclosure Charges

Question: why there is the foreclosure fee in ICICI bank is 5%, while it is 2% only within 2years in SBI groups?

In SBI group of banks the foreclosure charges for a loan is only 2% within 2 years. After that there is no foreclosure fee. In ICICI bank they charge 5% as foreclosure fee. Is there is any remedy for this?

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Answer: you are right but there is no remedy for that