Foreclosures Help Information

Posts Tagged ‘foreclosed’

Foreclosed Chicago

Question: If you rent, and the landlord gets foreclosed on, do you still pay rent?

I was just reading an article about how renters in Cook County (which is Chicago and some suburbs) now get 120 days notice of foreclosure before they get evicted. So I was wondering, if you are a renter and your landlord isn’t making the mortgage payments, are you still obligated to pay rent? I would think that once you got notice that the property was being foreclosed on, you wouldn’t have to pay rent anymore, since your rent wasn’t going to the mortgage anyway and you are losing your home. Anybody know for sure?
Just wanted to add-I am not in this situation, I was reading about it and wondering how it would work.

Answer: Since there is still an owner (now the bank) and you still occupy the owner’s premises (the apartment) you still have to pay rent. Just make sure you pay it to the correct party.

Chicago Foreclosures List.avi

Free Foreclosed Homes For Sale Listings

Question: How can I access foreclosure sales (listings) for free?

I am looking to invest in a foreclosed home (to live in, not to re-sell). As I understand, it is possible to get a decent price for a decent property. I researched it, and I can’t seem to find any good web-sites with information that would be relevent and free. All the sites that i was able to find required a credit card to be on file, and only offered limited time trials.

Answer: how about look at your county records for “notice of foreclosure” or “notice of trustee sale”
then go see if its on the current mls
you dont want that one
you want the ones that are actually going ot go thru foreclosure and the owners want out.
u have to go to county records to see if the home is worth your time. if they have a mortgage of 100% of the ass’d value then it’s not worth it.

Free foreclosures listings

Foreclosed Furniture

Question: When the bank forecloses on a house, do they own the belongings inside of the home as well?

I have a roommate who owns the house where I currently reside, and it is headed for foreclosure. I have no ties to the mortgage or any other bills for the house. My question is, if the house is foreclosed upon, are my furniture and belongings at risk of being confiscated? I live in North Carolina, just in case it might vary from state to state.

Answer: The bank does not keep the stuff inside the home. The people will be given a move out day. Now if you leave stuff in the home after that date the bank can toss it then.

If I were you I would move out now and find someplace else to live. No reason for you to deal with this.

N. Hollywood House Foreclosure-priced

Foreclosed Commercial Properties For Sale

Question: Foreclosed property in DC?

NOTE: I ASKED THIS QUESTION PREVIOUSLY AND JUST GOT A LOAD OF VESTED INTEREST FLANNEL FROM REALTORS TRYING TO TALK THE MARKET UP (E.G., “…FORECLOSED HOUSES SELL FOR MARKET VALUE, THERE IS NO REASON FOR THEM NOT TO” ETC.). Here is my question; if anyone has GENUINE information, please let me know. Realtors please stay away.

Answer: Try oreolist.com they are not an RE agent site. All it does is provide a list of links to banks that have their foreclosed homes for sale on their web site. There is no signing up or anything.

FREE Apartment Foreclosure & Commercial Short Sale Web Class

Illinois Foreclosed Homes

Question: Does the FHA appraisal require appliances?

My agent insists that it does. I am FHA approved and looking at foreclosed homes which usually don’t have appliances. My agent has said that I must install appliances prior to the appraisal, but I risk the chance of not getting them out of the house in case I don’t close. I live in Illinois if it makes a difference!

Answer: FHA 100% requires appliances. The house has to be in move in condition.

FHA rarely approves foreclosures, you really should be looking at normal homes if you want FHA approval. The biggest problem is getting all of the water and power up and running prior to the inspection, the banks are not so great about that. This is the main reason most will not accept FHA bids, just too much of a hassle.

Can you believe California has nearly one fourth of the countries foreclosure filings!?!