Foreclosures Help Information

Posts Tagged ‘foreclosed land for sale in texas’

Foreclosed Land For Sale

Question: Question about finances and what my option are in my situation?

So, I have a mortgage on my house and a car loan with the typical bills of credit card, electricity, etc. These are not my issue. I also have 2 pieces of property, one I own with a friend and the other I own on my own. The one I have with my friend we got 2 years of payments for free which will be ending this April. The other land I took a second interest only loan out for another year in hopes that the roads at this property would actually be built. It is in North Hampton County VA within a half mile of a boat ramp going into the Chesapeake Bay. Long story short on that one the roads have been held off over and over again and I cannot sell the property without roads in it. Currently I have the 1 acre lot for sale for 150,000 with a 15% kickback upon purchase. If i needed to get rid of one this would be it and then hold the other one with my friend. My question is what are the options I can take here to get out of this if paying it off is not in my budget. Can I foreclose??

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Answer: Try to negotiate a short sale with the bank, rather get an experienced realtor. Banks prefer to deal with people licensed by the state and the whole transactian is not simple. You have to get an attorney to deal with the necessary wording, your agent should know the whole drill. Foreclosure busts you up for 7yrs it usually leads to bankryptcy!

Phoenix (Desert Hills) AZ Home for Sale PRE-FORECLOSURE

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Foreclosed Land

Question: How can I find foreclosed houses and property to purchase.?

I am looking for a new home and some land . What steps do I go through? Who do I contact?

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Answer: They are announced in the paper and the court house has a list.

There isn't anyone to contact. The houses are auctioned off on the court house steps. Bring cash, lots of it. There is no financing. You may want to hire a broker to help you, these auctions only last a few seconds, at least with desirable property. My most recent (I hire a broker) was had for 18K and 3 for the broker. There is no way in the world I could have managed it w/o him.

Take Back the Land on CNN 12-06-08