Foreclosures Help Information

Posts Tagged ‘foreclosed property’

Hud Foreclosed Property

Question: i’m in Dallas Tx and my landlord’s property that i’m renting is going to be foreclosed on 12-1 what happens?

The landlord told me the bank was working with him now after being confronted by me he says he’s not trying to save the property anymore. I was told HUD helps people in this situation is that true? Who can i call?

Answer: The new foreclosure law requires that the bank let you live out your lease or give you 90 days notice if you do not have one. You must continue to pay him the rent until the day the bank takes possession. After that you pay the rent to the bank.

Here is the new law: http://www.tenantstogether.org/downloads/S.896RenterProtections.pdf

Colorado Springs Real Estate HUD Foreclosure 6696 Flintridge Dr 80918

Foreclosed Commercial Property Texas

Question: My commercial property has a contract witht the title company and my mortgage company is threateing to foreclo

I am based in Texas.Its a commercial property that has been with the title company for almost a month.I went to to my mortgge company to see if they are willing to give me a break for the money I owe them and now they are sending me letter to foreclose on it.Please advice.

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Answer: give us a call http://www.anycreditmortgage.biz

People Doing Business Danny McKinney founder of McKinney Real Estate & Investment Co. Spotlight

Foreclosed Property In Florida

Question: If I own two homes and one is foreclosed on can the bank take the other one as well?

As most of you know the real estate market has dropped considerably here in Florida, can the bank come after my primary residence as well as foreclose on my rental property

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Answer: I'm a Real Estate Broker myself here in Florida and NOT an attorney, but in my opinion what will happen is the following:

The rental property will be sold at auction most likely once it's in foreclosure. The bank will then place what's called a "Deficiency Judgement" against YOU not your primary residence for the difference of what you owe and what they received from the auction. Now if the bank came after you in the court process for the deficiency judgement then you might have to declare bankruptcy to save your primary residence and main source of transportation, but from what I understand regarding the Bankruptcy Laws Florida & Texas are the only two states that still allow this. But again I'm not an attorney and you should consult with one most likely

MY ADVICE:
Have you tried contacting the Lender regarding a "Short Sale" of the rental property to avoid the whole foreclosure process? This is becoming more popular here in Florida. It basically means the bank might be willing to take less then what you owe because the market is so bad. Contact your lenders "Loss Mitigation" department and explain your situation to them. I have a couple short sale listings myself.

hope this helps, SELL2K

Lee County Florida Selling Foreclosed Houses

Foreclosed Property Search

The falling interest rates and weak economic scenario throughout the world is forcing small investors to look for smarter investment option like the ‘real estate.’ In last few decades, investing in properties and homes is considered as a profitable venture. If you are thinking to put your money in buying real estate properties, make sure you check out available foreclosure and bargain residential real estate options.

Nowadays, many small investors are looking for good foreclosure options to purchase properties and homes as buying foreclosed homes is considered as an attractive investment for earning profitable returns. Many investors choose this option to earn handsome rentals or for reselling purpose. Also, people are coming out of their notion that foreclosed homes are only available at crime-ridden locations. If you search thoroughly, you can find suitable investment options in some of affluent areas as well.

How to buy foreclosed properties?

Once you have decided to get a foreclosed property, it is the time for do a thorough research. It is because, a little bit of research not only saves your money but it also helps you to get a perfect property at your desired locations. Therefore, a thorough search is must for all interested buyers. The best way to get a profitable deal on foreclosed properties is by contacting the lender who holds the mortgage that is in default. In this system of home buying, the lender may offer you a break on the interest rate or the down payment or willing to offer you waiver on some other costs. People who could not find any troubled lender can contact real estate brokers of their respective location. By paying a fixed amount of commission as their fees, you can gather enough information about available foreclosed properties.

Buying a home or a property can be an easy job to do if you know where to look for.

About the Author:

Myself webmaster of http://www.ushomeauction.com for all type Buying Foreclosed Properties and get information on how to Buy Foreclosed Properties For Sale in US.

Article Source: ArticlesBase.com – Buying Foreclosed Properties: Profitable Investment Options

Advanced Home Search: How To Use TheBestHomeSearchEver.com

Washington Dc Foreclosed Properties

Question: Where’s the best place to find foreclosed/pre-foreclosed property in Northern VA/Washington, DC area?

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Answer: The current leader on the internet relating to providing information on foreclosures is recognized as RealtyTrac however you do have to pay to receive their informational services on foreclosures. You can also contact your local banks they have OREO (Other Real Estate Owned) departments that handle the properties they have taken back.
There are others that we have found list them on the internet
In this forum participants, such as myself, give opinions on subjects that they feel they know the answer to and sometimes those opinions sound exactly like the right answers but they might not be due to the varying laws in each state, and anyone can make a mistake, that’s why I like to give links to resources that you can check all answers against, including my own opinions, in case my opinions are wrong. Since most of these links are from state & federal government & non profits sometimes they change them, let me know if the links are wrong so I can go find the new ones. So to that end here are some links that you might want to check before relying on information and opinions that you get in here, and that you might be considering following up on and as always verify everything with a licensed professional.
Chase Bank foreclosures

http://mortgage.chase.com/pages/other/co_properties_landing.jsp

Country Wide foreclosures

http://www.countrywide.com/purchase/f_reo.asp

Bank of America foreclosures

http://bankofamerica.reo.com/search/

Regions Bank foreclosures

http://www.regions.com/personal_banking/property_for_sale.rf

NationStar Mortgage

http://www.nationstarmtg.com/Realtors/FindAHome.aspx?state=ALL

U.S. Bank Home Mortgage

https://customercare.fnfismd.com/usbankhomemortgage/reo/reoReport.asp

Wells Fargo

http://www.pasreo.com/reo/consumerSvlt/nav/ConsumerNavL1.jsp/requestPage/consumer/PropertySearch.jsp

IndyMac Bancorp

http://apps.indymacbank.com/individuals/realestate/search.asp

Chase Mortgage

http://mortgage.chase.com/pages/other/co_properties_landing.jsp

[ ] REAL ESTATE FOR SALE BY THE UNITED STATES DEPARTMENT OF AGRICULTURE (USDA):

http://www.resales.usda.gov/

[ ] Real Estate for Sale by US Government Site #1

http://www.firstgov.gov/shopping/realestate/realestate.shtml

[ ] Site #2 http://www.homesales.gov/homesales/mainAction.do

[ ] IRS: Real & Personal Property Sales: http://www.ustreas.gov/auctions/irs/

[ ] Acquiring a VA guaranteed home foreclosed by states: http://www.ocwen.com/reo/residential/res_reofindbystate.cfm?proptype=VA

[ ] Foreclosure requirement by HUD guaranteed loans: http://www.hudclips.org/sub_nonhud/cgi/nph-brs.cgi?d=MLET&s1=90-$%5Bno%5D&op1=AND&SECT1=TXTHLB&SECT5=MLET&p=1&r=39&f=G

[ ] Homes and properties being sold by the different departments in US Government:

http://www.hud.gov/homes/homesforsale.cfm

[ ] USDA Properties for sale all states

http://www.resales.usda.gov/sfhdirect/sfh_prop_main.cfm

Seminar: Buying Auction, REO & Foreclosure Homes
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