Foreclosures Help Information

Posts Tagged ‘economics’

Foreclosed San Francisco

Question: i bought a home in san francisco for 280,000 it was from a relative well i fixed it up and rented it. im?

renting it for what the mortgage is. cant rent it for any more, well they just told me 1yr later that the house is worth 580,000 and so there raised prop taxes. i cant afford to pay them. so im gonna sell in June. WILL THE CITY WAIT FOR THERE MONEY TILL HOUSE SELLS OR WILL THEY MAKE FORECLOSE.

Answer: If you purchased the property from a parent, grand-parent, your child, or a sibling you can file a form with the county tax assessor and the property will not be reassessed, but kept at the same old assessment value.

Whenever a property is sold the property will be reassessed to the current value, other than the exception stated above.

In California because of Prop 13 a property assessed value can't be raised more the 2% a year from your sales price and/or the fair market price when you purchased it.

CALIFORNIA WILL NOT MAKE A PAYMENT PLAN WITH YOU. If you don't pay the tax bill it takes four years before the state sells the property, however your lender will foreclose on you way before that time for the unpaid taxes.

If you are selling within the next 6 months all will happen is at the closing of the escrow all the back taxes and penalties will be deducted from your proceeds of the sale.

San Francisco Area Foreclosure(San Lorenzo)

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Mortgage Foreclosure Fraud

Question: Does anyone know how if it is possible to get refinancing after my credit score was destroyed from fraud.?

The results of the fraud ( perpetrated by a family member) was to file bankruptcy. I recently settled my chapter 13 bankruptcy and avoided foreclosure. Now with a low credit score and no credit cards, I still own my home but wish to refinance to consolidate my first and second mortgages at a lower interest rate. Are there any programs through Fannie Mae or other federal programs?

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Answer: Usually, you need to wait 2 years after a bk and you can do FHA. Sometimes, they will approve at 18 months with DOCUMENTED special circumstances.

Investigative Guy Busts Open Mortgage Foreclosure Scams

Mortgage Foreclosure Data

Question: Fifty parents with teenage daughters were asked ..?

Fifty parents with teenage daughters were asked how much they would be willing to spend on a wedding for their daughters. Which type of data graph would best display the center of the collected data?

Stem-and-Leaf Plots
Box-and-Whisker Plots
Scatterplots
Cumulative Frequency Graphs

A private research firm wishes to find out if there is a connection between the price of gas and the number of miles driven by American drivers during the last six months of gas price increases. Which type of data graph would best display this information?

Stem-and-Leaf Plots
Box-and-Whisker Plots
Scatterplots
Cumulative Frequency Graphs

A major bank would like to know how the number of mortgage foreclosures compares in the present year to last year. Which type of data graphs would best display this information?

Stem-and-Leaf Plots
Box-and-Whisker Plots
Scatterplots
Cumulative Frequency Graphs

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Answer: (What's the difference between stem and leaf, and box and whisker)

Anyway, I'd say

Box and whisker
Scatterplot
Cumulative?

Networks Misrepresent Foreclosure Data