Foreclosures Help Information

Archive for the ‘Find Foreclosure’ Category

Find Foreclosures In My Neighborhood

Question: Why didn't the gov't take the foreclosures from the banks as collateral and let the homeowners maintain them?

That way the housing market wouldn't drop like a rock and neighborhoods would be nice to live in, cut the social services expenditures and improve the quality of life for everyone, without screwing the regular working Joes that didn't make any mistakes in the last 10 years..
The banks aren't lending money to stimulate the economy like planned, and it isn't without due process, it's called securing your investment.

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Answer: I see your point. The government shall confiscate property without due process of law, and hand that property over to the very people who didn't pay their bills on time.

Make sense to me.

Hey! Crack Houses are forming in my Neighborhood!

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Best Way To Find Foreclosure Listings

Question: How do I find foreclosure listings without paying a membership fee somewhere?

I keep hearing about how buying foreclosures is a great way to find buy property for less money. I am a recent college graduate and don't want to throw money away on rent when I can hopefully find a place where the monthly morgage payments are less. I am looking to live in the Lehigh Valley (Allentown) of Pennsylvania.

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Answer: I am relocating and have been looking at foreclosures. With as many are out there, many are listed on realtor.com or with local realtors. A few sources that I've tried:

Bank websites - Chase, BoA, etc.
www.hud.gov - has links to all govt owned foreclosed properties
www.ushud.com - not a lot of information
Local realtors websites

Make sure you do your research like checking the county website for valuation information, tax info etc. Since most offer no disclosures, you want to make sure you do the legwork to ensure that it is a good deal.

California Foreclosure Listings: Find a Foreclosed Property

Find Foreclosure Listings For Free

Question: Can anyone recommend websites with free foreclosure listings in NY and NJ?

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Answer: Forget websites. Go to the country courthouse where these foreclosures have to be posted. Take the name of the referree and number and call him and ask him about the property. Find out which bank has the mortgage and call them and find out how much they have into the property. Go look at the property to make sure that they don't owe more than you want to pay.

You will need probably 20% when the hammer drops at the auction and the balance in 30 days. Have the money ready or an equity line of credit to finance it till you can take it over, fix it up so a bank will give you a mortgage on it and refinance it if you want cash out.

Good way to make money but be careful because a lot of people are upside down on their mortgages at this time because they got 95% financing and property went down in value and they didn't keep it up further reducing it's value.

Good luck!

Where Can You Find Foreclosure Listings For Free?