Foreclosures Help Information

Posts Tagged ‘Foreclosed Homes’

California Foreclosed Homes For Sale

Question: Foreclosing on a Home In California with a First and a Line of Credit?

I have a First and a Heloc from a Credit Union. My house has been on the market for nearly a year with no action. I am selling at a fair price that will cover paying off the loans and the Real-Estate fees. If I choose to foreclose on the home, what are the ramifications regarding the 2 loans. Will I be liable for any damages to the credit union? If I do a short sale do both lenders have to agree or just one? How long will it take to recover (credit wise) from a foreclosure vs. a short sale?

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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Ohio Foreclosed Homes For Sale

Question: Doesn't the court have to notify us when our house has been foreclosed on and set for Sheriff's sale?

Our home was foreclosed on. We open all of our mail from the court and the bank's attorneys. We do not have an attorney ourselves. We found out by checking the court computer system that the order of foreclosure was signed by the Judge in November but we NEVER received notice of any kind. Today we got notice that the home was set for Sheriff's sale next month and again, we NEVER got any notice. This doesn't seem right. We are in Ohio. Is this allowable and if not what can we do?
To clarify - it was foreclosed in court. We found out about the sale but did not receive notice from the court or anyone else. We don't contest the fact that we have to leave, we are just trying to make plans and that is hard to do when you aren't getting the notices that we are legally entitled to. Even poor people in debt have rights.
Foreclosed by the bank.

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

Search Foreclosed Homes For Sale

Question: Will i lose all my homes and jobs ect to foreclosure of just one home?

I moved to a new town from chicago 7 months back. we bought a new home here. We kept our condo in Chicago for sale since april. we changed two realotors, went 20K below the average price, did everything we can. but it just doesnt sells. Now all my savings are exhausted and i cant pay two mortgages (new home and old home). I was thinking of foreclosing the old home as i cant pay the mortgage anymore and iam not even living there.

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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