Answer: If your credit is poor or non-existent, you will need to apply for a FHA loan in order to obtain any financing whatsoever. Contact a lender to find out what amount of money you will be able to borrow to purchase a house. Then contact a qualified real estate buyer agent to assist you in your house search. Don't limit yourselves to only foreclosed houses. They aren't the fantastic deals which many make them out to be. Any lender selling a foreclosure will seek to get as close to market value as is possible.

Good luck.

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Answer: Its a really good idea. Most of foreclosures already have equity which is a great start. Umm Foreclosures are owned by banks or a morgage company and some properties are sold in an Auction which require it to be a cash buy.

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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!?!

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Answer: The short sale will have less of an impact then a foreclosure, but both are about 7 years.

Yes, both lenders have to agree on a short sale, you will screw both, so both have a say.

SOUTHERN CALIFORNIA FORECLOSURE TRUSTEE SALE.wmv

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Answer: Well you should have known that you didn't have much time left if you weren't paying the bills. But if You were paying the bills and everything then you have a case. The letter saying that it was set for sale is the forcloser notice. It is perfectly allowable because you weren't paying your bills and that is what happens to people who don't pay. Sorry that this is happening to you, but there isn't anything that you can do.

Galloway Ohio Home For Sale (866)830-1620 x 2300

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Answer: I recommend that you hire an attorney who specializes in real estate law before you talk to the lender.

Follow the advice of your attorney.

Some of the other responders have given you advice that I suspect may not be in your best interest.

Your attorney will be able to give you a much better answer and it will not cost all that much compared with what you have to lose if you do not talk to an attorney.
.

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Answer: You are probably looking into an REO property, If you know what you want/where you want it then I would recommend looking for listing on mortgage sites. Those are great deals that aren't as widely known. You can grab one before the general public fonds out about them.

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Answer: This is asked in Y A everyday, and the short answer is that free sites don't exist. And the ones you pay for are not renowned for their accuracy.

Here is a free foreclosure listing for you

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Answer: With much respect to the posters above me, most of the information you were given is incorrect because it is outdated. You need to see an attorney before making a decision like this, but here are the facts:

1. If you foreclose, your home will be sold at sheriff's sale, and there is a chance that your lender will sue you for the difference. The chances are small, but it does happen, and you need to be aware of this.
2. Under the HOPE program, you do not qualify for a short sale or a loan modification because you can afford your mortgage as it is. You can learn more about the program by googling it. You will also learn that just a few hundred homeowners in peril have actually been helped by this program. It is a joke. Further, be advised that under the HOPE program you have to qualify by submitting your pay stubs, bank statements, and monthly expenses and assets and liabilities on an FHA form that goes to the bank and the government. Volunteering this kind of information to the government is always a bad idea.
3. Even if you could short sale, you would owe taxes on the deficiency. That was changed in January of 2009. You don't qualify for a short sale anyway.
4. Going into foreclosure is going to lower your credit score, but it will not tank it. The laws on this have changed as well. If a person has an otherwise great credit score with one huge black mark like a foreclosure or repossession, under the new laws their credit score must reflect the whole picture, not just the black mark like was the case before.
5. If you rent a home, you will not have to live there for seven years before you can buy another home. Under the law today, you have to rent for two to three years, paying your rent on time, and then you will qualify under FHA as a first-time home buyer and be able to buy a home. Save your check stubs from the rent to prove you paid it on time. Be advised that this is the law today, and it may change.

In conclusion, this is a major life decision, and you owe it to yourself to consult with an attorney before doing anything. I have given you the most current information, but things are changing all the time. Expect to pay $100 to $500 for a consultation with an attorney, depending on where you live. It will be money well spent. Best of luck to you.

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Question: Free foreclosure List! Please!!?

Does anyone know of a web site that list foreclosed homes in Michigan WITH the square footage information and does so with out making you pay any money. All I can find are sites that want me to pay to get the details. Please help.

Answer: this has a list of places with free listings

http://www.ehow.com/how_4563934_house-cheap-real-estate-foreclosures.html

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Question: if foreclosed homes are so cheap and hard to get rid of, why dont they lower the price for the original owner?

>

Answer: soooo.....are you saying they should keep the money and the house too?

They are beign foreclosed on because they are refusing to repay cash that they borrowed.

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Question: I see this program on tv alot and want to know if anyone has used it to buy government tax foreclosed homes?

John Beck is famous on tv for his pennies on the dollar program. Has anyone ever bought house that cheap before using his program? If so Please enlighten me, and tell me where you get the lists. And what you paid for it, and any other details you can tell me. I find it hard to believe that some one would loose their house for $378.52 just because they didn't pay the taxes. Thanks in advance. Anything personnel cant be sent to my email this is a yahoo address realestatehero
He states in his program that these are actual purchase prices and they are free and clear. And after buying you can sell, keep, rent, ect.
he doesnt state that after you buy you have to pay the taxes, he states that the price you buy is the back tax.

>

Answer: This is basically a scam.

Does it sound logical that a person that owns a home that has value will lose that house just because of a few years of back taxes? First of all, if the property has a mortgage there is no-way that the bank will allow this property to be lost due to back taxes. The lender would step-up and pay these taxes.

The only properties that are lost like that is bare land when the owner discovers that the property is basically worthless. No water, no utilities, land locked by other parcels without any legal "right-of-way" to get onto the parcel. I've seen owners try and give these worthless plots away to a charity just for the tax deduction. The charities refuse them because they don't want to be responsible for the taxes either.

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Question: is there a site to search for government tax-foreclosed homes that is actually free?

>

Answer: There is no such thing.

Free Hugs Campaign HQ [ JuanMann.com ]

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Question: real estate advice, renting a pre foreclosed upon home?

I need help... We are in the state of Florida and have been served with pre foreclosure papers as John and Jane Doe, tenants. Our landlord has given us a song and dance and has told us that he will hold us to the end of our lease, being July 1, and he feels there "should" be enough time. I have a high school Jr. and Sr. I would like to move out. What are my rights? We have been relocated due to a military move and really need to stay in the area. We have spoken with the bank as well as the attorney for the bank and were told that the landlord did not reply within the twenty days. They were up last month. The bank said they are simply waiting on a court date. I honestly can not live like this and find it hard to believe that the landlord has so many rights. I have always paid my rent, I just want out of this situation. I own a home in NC with tenants and could not imagine placing them in this situation.

>

Answer: Yes, the landlord can hold you to the original rental agreement as long as he is the owner of the house. I know it's tough, but you should stay as long as you can. Make sure you give the correct notice to the landlord that you will be moving out the first day the lease expires. Then about two months prior, start looking for a new place. You should be able to sign an agreement one month early for a move-in date of July 1. So really, you just have to wait until 1 April to start looking and planning your next move. If necessary, try to find an apartment in the area so your kids can stay at their school. Hang in there! The banks take lots of time to go through all their paperwork, so you should be okay.

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Question: Where can I find foreclosed homes online without credit card numbers being involved?

I am looking for a home in Anderson County Tennessee. I figured I would look at foreclosures, but I can't find a website that shows the addresses and pictures of any of them. Unless you put a credit card number. I am not going to put my card number. Anyone know a website that is free, not a trial period?

>

Answer: You might look in your local newspaper and find a listing that say "Foreclosed Homes" Call this agent to see if they will send you a list of their foreclosed homes.

Some will but most would want to see if they can get enough information from you to get you pre-approved prior to sending you a list if they would send it at all.

Most real estate agents think that if they supply you with a list of REO homes, you might not come back to them if you decide to purchase a REO home off a list they provided to you.

There are very few free web sites that will list REO homes for sale.

I hope this has been of some benefit to you, good luck.

"FIGHT ON"

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Question: Is it possible to get a mortgage if you are in foreclosure?

I am 3 months behind in payments and my house will be sold at auction soon. Is it possible to refinance and pay for my old house plus get another? I have been trying to sell my old house but no dice. I would ideally liek to pay off this debt and find a new home. If worst comes to worst and my house does not sell and I get foreclosed, will i be able to get another house and mortgage? Is it possible to rent to own a home without a mortgage?

>

Answer: you have already proved you cannot pay a mortgage. no one is going to give you another one

Make money Lease Options, Rent To Own, and Owner Financing

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Question: New home buyers credit and energy property credit.?

I'm purchasing a new home tomorrow. The title will have my fathers name on the title as well as mine (The bank basically wanted his on it too). He has owned a house for years, I have not. I was wondering if I still get the $8,000 tax credit for a new home buyer. Also, the house is a foreclosed house that is not fully constructed. (Basically has drywall in it and nothing else). I am putting energy efficient appliances in it and wondered if I get the energy credit as well. I know it's for existing homes, but taxes have been paid on this house for 2 years now so does that make the house existing? Thanks in advance!
I should add, I'm more worried about a tankless water heater (it qualifies), not so much appliances.

>

Answer: For the house to be considered for FTHB credits you must have a certificate of occupancy prior to 12/01/09. You father being on the title has nothing to do with the FTHBC if you otherwise qualify. I don't think the energy credit would apply in this case.

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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?

>

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.

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Our foreclosure listings are up to date and compiled by experts in the field ensuring that you get access to the latest offerings in the foreclosure market.

Why VA Foreclosure Listings?

VA foreclosures are at a different level of the foreclosure procedure. This is a legal action which is taken against a property as a result of a mortgage default. During this time the lender involved in the contract is seeking to take possession of the particular property in question.

If the borrower wants to stop this process he has to bring the mortgage loan back to current. In legal terms this is known as a VA Single Family. The ownership of the land in this form of foreclosure is in a “fee simple” type. The VA title is thus issued in the name of the owner of the house. We provide you access to the latest VA foreclosure listings and this list is updated on a regular basis.

VA Foreclosure Listings-An Excellent Financing Tool

The VA mortgage is an excellent financing tool especially when it comes to buying a lot. A VA mortgage is basically a bank loan which can be used to get the listings as well as the initial down payment. For the buyer, a real estate VA foreclosure is an ideal opportunity to pick up a home of their choice on a highly discounted VA price. This is because the down payment has already been made by the previous home owner. Furthermore the value of the house is likely to have appreciated since the time of the payment of the original down payment. Our VA foreclosure listings are a great resource for picking up bargain deals that cannot be found in the conventional real estate market.

About the Author:

Joseph Smith has been educating buyers on the finer points of VA Foreclosure Listings at TopForeclosureListings.com for over five years.

Article Source: ArticlesBase.com - VA Foreclosure Listings

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