Foreclosures Help Information

Archive for August, 2009

Foreclosed Homes For Rent In Florida

Question: Need info. on mobile home prices in Orlando, Florida area?

I need to move to Orlando in about 6 months to continue my education (UCF). After looking at apartments, foreclosed homes, duplexes, etc, I THINK I've figured out that a mobile home would be the most cost effective way to go.
So I'm hoping someone out there, with some knowledge of real estate, can help me by answering a few general questions:
Number one, I cannot afford to buy land, so I'm assuming I would have to live in some kind of community?
I've been looking at apartments in the $500-600/monthly range. Can I even afford a low-priced trailer? I'm thinking listing price of $30,000 or less with a $5,000 down payment - my payments would be less than $100/monthly, so I would just have to rent the lot (most places are under $400/month). Is there more to it? Am I missing something?
Also, I have a dependable cosigner - does that help?
THANKS!

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Answer: Have you considered getting a rooomate to live with ... ?

It would definately be a lot less expensive .... as lot rent is kinda high at $200 and UP per month ..... usually .

I'd suggest that you go on Craigslist , MySpace Classifieds , or even Roomates.com and look for a roomie .....

Clearwater Beach Florida Home for Rent VIDEO by Leiza Halsey

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What's the difference between bank foreclosure and homeowner's association foreclosure?

My sister is already facing bank foreclosure but she also just got a letter saying that she will be facing homeowner's association foreclosure because of unpaid dues. They're filling a lien against her ... I don't understand the differences between a bank foreclosure and a homeowners association foreclosure. I thought only banks could foreclose on your home. Can a homeowners association also foreclose on a home? Can they do that even when my sister is already in one type of foreclosure? Can one person be in multiple foreclosures at the same time on the same house? Thanks for your help.

Foreclosure Law Massachusetts

Question: Chapter 13 and then a foreclosure in Massachusetts?

I have been in a Chapter 13 repayment plan for the last year. Due to my adjustable rate mortgage, my payment has gone up. At the beginning of the plan I did not sign a reaffirmations on my mortgage, but I have continually paid my mortgage payment on top of my Chapter 13 repayment plan and now with my mortgage payment going up, I can not afford to pay the mortgage. I think it would be best for me to let the house get foreclosed on, but I want to continue making the Chapter 13 payment.

Question 1: If the house sells for less than what is owed, am I still responsible for the deficiency?

Question 2: Will I still be able to make my Chapter 13 repayment plan at the same amount that I'm paying now?

Question 3: Will I still get my full tax return refund?

Question 4: Does anyone know if Massachusetts has a foreclosure deficiency law while I'm in a Chapter 13.

Any advice would be helpful!

Thank you.

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Answer: Wow, you may have a mess. If you didn't reaffirm your mortgage, how do you know your payments are going toward repayment if your mortgage company wasn't listed as one of the creditors?

Regarding foreclosure deficiency: I believe it is a Federal concern. Check out www.IRS.gov; all of your questions can probably be addressed.

Myths of Bankruptcy - Massachusetts Bankruptcy Law Firm