Foreclosures Help Information

Posts Tagged ‘buying’

Foreclosed Tax Credit

Question: What happens to my 2008 Homeowners tax credit after selling or losing my home? Potential Bankruptcy?

My tax credit was $7,500 which will be paid back at $500 per year at tax time for 15 years. Will it be due immediately should my house sell or foreclose? Please help!

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Answer: yes

2009 $8,000 Tax Credit Explained

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Buying Foreclosures With No Money Down

Question: where can i buy a foreclosure home for no money down?

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Answer: Why are you limiting yourself to forclosures? If you do that, you won't be able to do no money down. You'll be buying from banks, and they'll require money.

If you buy directly from homeowners, there are a variety of ways to do it "no money down." A couple of options are "subject to" in which you immediately acquire ownership, and lease-options, in which you have an option to purchase the property. Or, depending on where you're located you might consider contract for deed or land contract. "Subject to," though, is the safest for the buyer.

Can You Really Buy Property With No Money Down?

Foreclosed Investment Property

Question: Will I lose my house after my 6 investment properties are foreclosed on. How can I keep my home.I'm self empld?

I own a small construction company. Work has been slow. My credit cards are maxed out and I am about to not be able to pay the 7 mortgages I have. (4 houses have been unrented on and off). I want to at least keep my primary residence for my kids. I have a small pension fund. I need to keep that and use it for food and basic expenses. What is the best plan of action?
Thank you.

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Answer: try selling your rentals as fast as you can if you can. Then work on keeping the home you live in try bidding lower on some jobs to keep the cash coming in as well

16207 Ohio, Detroit Foreclosure / Investment Property