Foreclosures Help Information

Archive for the ‘Foreclosed Homes’ Category

Rent To Own Foreclosed Homes

Question: what is the legallity of your home being foreclosed if you have been paying?

my aunt has been renting her home for about 2 years now(rent to own) she has been paying the homeowner $1000.00/mo he has not paid the mortgage co and she has 90 days to move.she says there is nothing she can do what do you think?what would you do?

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Answer: If she is in a lease option contract with the owner who has now foreclosed, the contract would specify how much of the $1000 per month was going towards rent and how much was going towards the down payment (or whatever the agreement was for the split).
The seller of this home SHOULD have been keeping the portion that was not rent in an escrow account and that will legally belong to your aunt, depending on the terms of the lease option.
Your aunt is going to need some legal assistance in this unless the seller of the house is going to be completely honest and do the right thing.
I kind of doubt it based on the fact that they let the house go to foreclosure when someone (your aunt) was obviously paying towards the mortgage.

HomeRun Homes - Rent to Own Homes

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Boston Foreclosed Properties

Question: Why does Obama support $4 billion in funding for groups to buy foreclosed properties?

That's the only provision in the mortgage bailout that the White House opposes. Obviously it doesn't help anyone facing foreclosure, just the banks...and oh...the people who get the funding to buy the properties. This would be groups like ACORN.

For more on ACORN, Obama, urban blight and padded pockets, see below:

http://cei.org/node/20757

http://www.boston.com/news/nation/articles/2008/06/27/grim_proving_ground_for_obamas_housing_policy/

http://news.yahoo.com/s/uc/20080625/cm_uc_crmmax/op_196477

http://www.city-journal.org/html/13_2_acorns_nutty_regime.html

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Answer: to help his buddies.

Boston Foreclosure Homes

Trashing Out Foreclosed Homes

Question: quotes on clean ups on extorior foreclosed homes?

was asked to do a clean-up on a foreclosed home, but dont know hat to charge. Mind, only clean up outside of home, like trash, lawn work, and possibly other debris. Such as swing sets, glass, dead rodents, and furniture left behind. please help, need a ballpark labor rate, a.s.a.p, THANK YOU.

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Answer: I am in the Pacific Northwest where pay is pretty low. That kind of work would run between 15 to 20 per hour, and if your hauling away, it would be more like 25 per hour. I would start with 20-25 unless you live in an area where hourly wage is more than minimum.

that is hard work and involves truck or trailer, gas, ins. etc.

Also check newspaper ads and ask what they are charging....

How to start a "Trash Out" company | Learn how to start a "Trash out" company REO, Bank owned homes