Foreclosures Help Information

Archive for September, 2008

Foreclosed Motorcycles

Question: If my home gets foreclosed on,will they take away any assets i own? like motorcycles or cars I'm still paying

I am looking for a way out of my house due to the fact that we are moving by july4th and I know the house will not sell by then so i can see forclosure as my only way out.

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Answer: No. Depending on the situation, you may get money back. If the house is worth more than you owe, you will get the remainder after the note is paid off. If that's the case, it's in your best interest to take care of the place and get as much as you can.

If you're upside down in your loan, you don't care about the place. All your lender can get is the proceeds from the sale of the asset you put up as collateral: the house.

July 16 Biz Minute

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Foreclosure Laws In Arizona

Question: Can someone explain FORECLOSURE to me?

Here is the arizona laws.. I am just wondering how long we have until we have to move out if the forclosure starts july 1st?

http://www.realtytrac.com/foreclosure_laws.asp?strState=Arizona

THANKS!!

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Answer: Foreclosure means that the person who owns the house either is more than 3 months behind on payments, or, have failed to pay their taxes.

If the lender has not been paid, they will re-take ownership of the house. The same with the tax collector.

As told to you in a previous post, no one knows how long before you have to leave. When the eviction notice is served, you'll have about a week.

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Tax Foreclosure Listings For Free

Question: Where can I find tax foreclosure listings in PA?

I heard you can buy houses for under $1000. Is this true, and if so, where can I find free listings in my area?

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Answer: Theoretically true, as a practical matter not true. Each county tax collector should have a list of tax defaulted properties that are going up for auction. Don't count on getting a house for $1,000 when you are bidding against other bottom feeders.

Pre foreclosure leads, tax foreclosure listings, buy foreclosure