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

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Answer: John, the attorney's advise is most likely your only option due to your current financial situation.

If you had paid a small amount of your mortgage each month and at least spoke to the lender when they called, you might have staved off the foreclosure proceedings. Now there are only two ways to stop it, file BK or pay up.

Save my home from forclosure? Get a rate modification? Stop foreclosure sale.

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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.

Las Vegas Homes For Sale - MLS Listings Map Search

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Answer: Not sure about CA, but where I live (another depressed area) the rental market is booming. I mean price your place right and the phone rings off the hook. All those people that are losing their jobs have to live somewhere, I guess.

LAS VEGAS REAL ESTATE UPDATE-TENANTS BEING FORECLOSED UPON

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Answer: the city can repo it if the backtaxes aren't paid

Irvine California Foreclosure Home Tour OC-31ST

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Answer: You need to consult a bankruptcy attorney, this is serious business. It makes sense to say that you can include that judgment in your bankruptcy but then again it is a court ordered judgment so I don't know if they have ways of enforcing it.

Stop foreclosure avoid foreclosure in Orange County CA Part 2

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Question: Is it a smart time to buy property, especially condos at foreclosure auctions for an investment?

>

Answer: Base in your area, location,and price.
try to focus to buy HUD homes first,it' very easy,and fast.
short selling take for ever.
buy foreclose condo or home in very good area.
if the market improve , it will be the first one to shoot up.
be earful and take your time and study the property.
i think the market did not hit bottom yet.
but i know their are very good investment homes.
best wishes

Foreclosed Property: How to Buy Foreclosed Properties

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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.

Government Foreclosures - Government Owned Homes - Video

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Question: help with understanding bank owned foreclosures?

If a bank owns a house that is worth 200,000 lets say. And lets also say that all that is owed on the house is 100,000. As a buyer, if I put in a bid of 115,000(to cover closing costs) is the bank going to accept this offer. I heard a rumor that all the bank wants to do is collect the money owed on the house and whatever they recieve after that, they give to the original owners. Is this true? Help clarify some of this for me. I am in the state of Texas if that makes a difference. Thanks.
Ya but lets say that whatever I am offering is covering all of the banks cost, if this is so, then what's to say that the bank won't sell me the house with a low-ball price?

>

Answer: If the mortgage balance was $100,000, it's possible there's another $10,000 in attorney fees, and an additional $10,000 in accrued interest. I don't know the redemption period in Texas, but in many states, you can squat in your house for a year before getting kicked out, all the while interest is accruing.

So it's never quite that simple. And beware of any additional liens, foreclosures sometimes have them.

And yes, in most cases, after the bank has gotten every single penny of their own money back, they have to give the rest to the prior owner. So they might very well not care how much that is, but they do work within a framework of attempting to get the maximum value for their homes, based on their estimates of what the homes true value is.

And they also have to weigh their risks of having another 2 months go by before they get another qualified offer, while their carrying costs and attorney review fees etc... keep rising. So they're always looking to take the first fair and reasonable qualified offer that they can get.

Bank Forelcosure Property - Foreclosure Boys

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Question: Is it worth buying foreclosure properties at the courthouse auctions ?

I'm considering going to the local courthouse and bidding for foreclosed properties but I am nervous of hidden costs, etc.

>

Answer: In my opinion, it's the best way to buy a house. There are no hidden costs. You first need to do your homework. Find out the appraised value of the house, what the last owners paid for it, etc. Then decide what the top dollar is that you're willing to pay for it. Before the auction starts, someone will go over the rules of the auction and so on. Pay attention. Most of the ones I've bought required 10% down if you are the winning bidder and the remainder to be paid within 30 days. Once you write the check, they hand you the keys and that's it. No closing, no closing costs, no deed check, and so on. Then a judge will review the terms of the sale, and sign off on it. It doesn't matter at that point if there were 30 liens on it prior to the sale, the house is now yours free and clear.

Buying Foreclosures for Beginners

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Question: Is it true that those people on TV can actually help you buy foreclosed homes with no money out of your pocket

A lot of infomercials selling a book on buying foreclosed homes to make a profit. Is this even possible? What do those books teach you anyway. Has anyone bought any I'm curious because it sounds too good to be true?

>

Answer: You can make money buying houses for appreciated value but you need a lot of knowledge and some money.

The guys on TV are not lying, they are overvaluing what they have to sell you. As mentioned earlier here, check out your library first. Read a ton of stuff about buying foreclosed properties.

Then take a step back and ask yourself if it is worth the extreme hassel of renting that property if you can't sell it right away. I've been a landlord and it sucked.

Curious about flat fee real estate agents?

http://www.flatfeerealestateguide.com

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Question: Has anyone disabled person ever been helped thru A.C.O.R.N. in Illinois, if so, how and what is the acronym?

Has anyone been able to prevent foreclosure on home thru assistance at A.C.O.R.N. in Illinois?

>

Answer: See:

http://www.acorn.org

Foreclosures Loan Modification Chicago IL Orange County Mutual Fundings

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Question: Bank Owned properties: How do I get information about REO for free?

I have found some houses that are currently bank owned (I assume a REO). I have found these through a site that lists pre-foreclosures, foreclosed houses up for auctions, and bank owned properties...
But it won't list the address, or anything about when the auctions are, and I have no idea who to contact if I am interested in this house without paying for the service. Are these records listed for free anywhere? Can I go to the cityhall of the city the house is in? Do I have to go to each bank to find it out?

>

Answer: Bank owed homes have already been through the auction process, no one purchased them at the auction. That is why the bank now owns them.

You may call most of your major banks to see if they will provide you with a list, but I think you will find this fruitless as most banks now list their bank owned properties with a real estate agency for them to sell. Therefore if you are looking for a bargin there are few even if the house is in need of minor repair, because the real estate agency want to earn the maximum commission even if it means the house will be returned to the bank if it goes un sold.

Pre-foreclosures are listed at the county court where you reside, you have to go through each property to find several that you might be interested in.

The properties listed at these sites you find are teasing when they show a property but not the address or contact information. Most with the contact information is to real estate agencies, because that is who the bank has contracted to sell their property.

I find that the best way to locate people that are in pre-foreclosure is to select an area in your city that you want to invest in or reside. This area should contain at a minimum of 5,000 houses or more.

Make a letter or flyere stating that you purchase foreclosed property paid for or not and that you pay all cash and can close within 14 days. Get this letter ran off at Staples or Office Depot or any other copy place. Make sure you sign the original unless you want to sign each one individually. Make sure you have a telephone number listed on the letter that can be reached 24/7 even if it is an answering service. The telephone must be answered or at least a message saying you have contacted the person that purchase foreclosures,please leave a message.

Send these letters to the area you have selected to work. You should send them a letter at least once per month. I find it better if you walk the area and put the flyers on each door. Please do not place them in any mail box. This is illegal. If you have children they might be of help to you. Don't forget to reward them. Once you have walked the area for about three months with your flyers, you should consider making a newsletter to mail. Check with the United States post office near your for bulk mailing fees.

You might also go to the commercial areas and see if some of the commercial shops will allow you to place this same letter in their shops. You may purchase holders for your letters at Staples or Office Depot. Go by these shops that allow you to place you literature in them at least twice a month to change your letter and insure that you holder is clean and the letters are not all bent causing your flyer to look bad.

I would also suggest you purchase a few books on foreclosure at your local book store. There are several good books on foreclosure. You might also purchase one of the midnight real estate gurus course. They will supply you with several forms as well as some techniques to use. They also have scripts to use when you are called. Use them for what they are worth. No one is gonna give you thier house free with no money down. That is not what that means.

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

"FIGHT ON"

IS IT HAPPENING TO YOU? FORECLOSURE BEGGING EFFORT - US BANK PHONE CALL

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Question: Buying a house after filling for chapter 7?

At the moment I live in Las Vegas.I just filled chapter 7 about 2 years ago, the lawyer told me that I would have to wait 1 year after I filed before I would be able to buy a new house, since I lost mine due to foreclosure. I called my broker to buy a new house under 40k puting a downpayment of about 5k and was told that I would not be able to buy any house for another 2yrs on my credit. I know that chapter 7 will be on my record for another 7 yrs after has been filed, but how can I get another house on my own? Any help will be great......thanks

>

Answer: Your lawyer might have been right two years ago. I don't know if you ever watch TV or read a newspaper, but the predominant story over the past year anyway has been the bursting of the housing bubble.

Then came the financial meltdown (you know the one, where the banks and financial institutions had to borrow billions from the government or go bankrupt!)

Now lenders make decisions very, very differently than they did 2 years ago. Now waiting only a year after a bankruptcy will not be enough. You will be lucky to get any mortgage loan in the next 3 years.

good luck!

PS - you will need a credit score of ~700 to get a mortgage these days.

Las Vegas Bankruptcy Attorney

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Question: fannie mae evictions?

I'm currently living in a property that was lost in foreclosure in late nov.2008 on DEC. 4 I received a 60 day notice. I found out 2 weeks ago the property was Fannie Mae owed since they stopped foreclosures and evictions till march 6, 2009 will the 60 days start counting after march 6 or by that day I have to move. I contacted the agent in charge of the property and told them I'm interested in renting the property from Fannie Mae and he told me I was better off moving instead. What can i do to find out more i tried calling Fannie Mae and was told i need to get the info from the agent in charge of the property please help
I am located in California

>

Answer: You don't say where you are located, and Fannie Mae may have more incentive to rent a foreclosed property in your area than where I am.

I suggest that you call the agent again, and get his/her address and send, in writing, your interest in renting the property. You might send a copy of the letter to the agent's broker and if you have a mailing address, send it to Fannie Mae as well. [If you work your way through the Fannie Mae system, you may even be able to get the name of the representative who handles the foreclosure properties in your area.]

Things have changed a lot since I was an asset manager for Fannie Mae properties for my broker. It is possible that if the property is rented out, the agent may have to service the rental listing which is a pain if s/he is a selling agent and receive a minimal fee for the effort. Or, the agent may have the property removed from his/her inventory and not have the chance to sell it and actually earn a commission.

Or, the agent may be a straight shooter. And actually helping you by saying that dealing with Fannie Mae as a LL is a major pain.

Only one way to find out.

Good luck.

Eviction Foreclosure, Stop Foreclosure, Foreclosure Help

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Question: Credit after foreclosure question...?

Long story short, my house was stolen by a dirty mortgage broker. This is a guy wanted by several gov't agencies, and currently in court with the DA's office. He literally stole my house (and several other people's) and my lawyers said my best option was to stop paying and hope the bank forecloses on him. Yes, I am still pursuing legal action for this situtation.

OK, so I only stopped paying on the house, and it apparently (one year later) just sold in a foreclosure auction. I now have a foreclosure on my credit report, which I know will be there for 7 years. All of my revolving credit cards are paid on time and usually in full. I have money in the bank. So basically, everything else is in tact but *the house*.
Who do I call to repair my credit? Debt consolidation company, bankruptcy attorney (even though I am NOT filing for bankruptcy)? Is time my only option?
How do I repair it if my only debt is the house?
Let me know if you know the answer to this because I am confused.

>

Answer: Only time will get that off your credit record.

Your story sounds VERY strange. I'd be consulting with another attorney about your first one's advice...

How to Stop Foreclosure: Foreclosure vs. Bankruptcy

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Question: How do I get in on the foreclosure home action?

I live in South Carolina and would love to know if there are any decent foreclosure homes in my area. But everytime I try to look something up online (Hud, etc.) they want a fee or a free trial... provided I give them my credit card number. Is there a bank I could contact, or maybe police auction?

>

Answer: http://infoonforeclosures.blogspot.com

Family Services Inc., featured on ABC News 4 in Charleston, SC!

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Question: Hud Foreclosed Property is a Joke!

I found a hud foreclose property and put a bid in for the home. I got the bid, my pest inspector found termites, hud said there were no termites come to find out they had a old termite letter, which took them only a month in a half to figure that out. The posted the house online and took bids on the house and advised that the HVAC was not working and they were allowing a 203k loan to repair the HVAC. However today I am suppose to close and hud don't want to pay to have the HVAC repair. I will advise anyone that is a first time home buyer not to do this. I am a first time home buyer and this has been my worst home buying experience ever.I am so wanting to back out but they will keep the $1000.00 I had to give for earnest money. I just don't understand how you advertise something and its not true and why is this. I hope and pray I never have to deal with hud again. I was suppose to close at 11am its now 3:30pm and still haven't heard from them. Why is this going this way I did my part.

>

Answer: I bought 2 HUD repo's. I learned a good lesson and it applies to all repo's. I have to bargain hard. So hard that i don't care if there are termites. Don't care if the AC is gone. I don't care about anything because i bought it for "my" price.
You entered this sale thinking that you were dealing with a "normal" seller. A normal seller will fix things that are wrong. HUD is not a normal seller. If you had offered $30,000 less money, you wouldn't be unhappy now. You'd be smiling. THis is a tough lesson. /

How a House becomes a HUD Home

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Question: i own a home, loan is only in my name. my husband wants to buy a home in his name only to rebuild credit...?

in worst case scenario i have to foreclose or file for bankruptcy on the home loan in my name only- (i bought the home before getting married)
1.Will it affect my husbands credit?
2.Can the bank take the new home in my husband's name?
3.Will the bank take my car (purchased 9/09, need it for work) or my husbands car(paid off)?
State is AZ

Thanks, and please refrain from morality judgments. I just need facts. Thank you.
In response to "Pengy"- we DO NOT file jointly to get the tax return credit, and he has already been pre-qualified for the loan.

>

Answer: 1) shouldn't effect your husband's credit

2) possibly, depending on AZ's family law. Assets purchased, while married, by one spouse can be determined to be property of both.

3) The bankruptcy judge my deem both vehicles assets on your balance sheet in which case they can be disposed of in order to pay creditors.

I'm sorry you are in this situation. It is going to be ugly for a while for you...

Buy Foreclosed Homes in Buckeye, AZ on buckeye homes for sa

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Question: Does a mortgage foreclosure erase an existing foreclosed lien?

Our condominium association filed and foreclosed a lien for unpaid dues. Redemption period passed. Several months later (now) mortgagor (bank) is beginning foreclosure process for unpaid mortgage. Property is "under water". If mortgage is foreclosed and redemption period passes, what happens to our existing lien?? Thanks.

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Answer: When the mortgage company forecloses there are several things that can happen. The mortgage company may pay off the association because they have agreater interest in the property. You may also receive a 1099 for income earned that you file have to file on your tax return from both parties.

Mortgage fraud scheme involved in more than 550 foreclosures

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