Foreclosures Help Information

Posts Tagged ‘Foreclosure’

Bakersfield Foreclosed Homes

The current foreclosure crisis continues widespread across the country.  While a number of reasons and opinions can be presented as to why the nation finds itself with an outrageous number of foreclosures, the fact still remains that there are a lot of properties facing foreclosure filings across the nation.  While this is a problem for many, it is also presents an occasion for many real estate investors and homebuyers to obtain great deals on real estate.  A consciousness of the areas where foreclosure rates are high is one of the first steps when looking to invest in real estate.  

According to Realty Trac, in the month of May 2009, the top three states supplying the most foreclosure filings were Nevada, California, and Florida.  These three states alone supplied more than one half of the 321,000 foreclosure filings for the entire country in the month of May.

In Nevada, 1 in every 64 homes faces foreclosure, making it the state with the greatest foreclosure percentage in the country.  Clark and Lyon Counties are the main contributors in Nevada including cities like Las Vegas, Henderson, Mesquite, Fernley, Yerington, Dayton, and Silver Springs.  

California follows next in rank with a rate of 1 in every 144 homes facing foreclosure.  Notable counties contributing to this rate encompass San Bernardino, Kern, Orange, Madera, and Merced. In these counties are cities such as San Bernardino, Ontario, Bakersfield, Ridgecrest, Santa Ana, Anaheim, Madera, and Merced.  

Not far behind California is Florida with a ratio of 1 in every 148 properties filing for foreclosure.   Miami-Dade, Broward, Duval, Collier, and Orange Counties are large contributors containing cities like Miami, Jacksonville, Naples, and Orlando.  

A comprehension of where these regions of high foreclosure rates exist, provides an excellent foundation for a homebuyer or real estate investor in taking advantage of the astounding discounts that can be found when purchasing foreclosed property.

About the Author:

I live in Cache Valley Utah.

Find more real estate information on Florida, California, and Nevada.

Source - Finding Foreclosed Property

Foreclosure Help Bakersfield Homes For Sale CA Short Sale

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Tax Foreclosed Real Estate

Question: To foreclose or not to foreclose?

Here's the situation: real estate prices fell, my mortgage is more then the condo is worth (which means I can't refinance). I am renting the condo out, but still have to come up with over $500 out of pocket every month to cover the HOA and taxes. I also have an adjustable interest (which will only keep going up). If I sell, I'm still going to own on the loan. I really don't want to foreclose. Can any one come up with any good ideas of what I should do?

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Answer: 1- if you go to foreclosure your credit will be ruined for 7 years and you will still owe the difference from the sheriff sale and the actual mortgaged amount.
2- I assume since you are renting it that you own another place that you live in. If this is so, then you should outright sell the condo- take the loss as a tax loss, and save your credit rating-- if possible, lease with option to buy and get a percentage down payment that would help reduce your monthly fees. The person you are renting to may be interested in that scenario since he is already there.
3- Are you sure your rent is high enough for the condo? that is another option to bring in more money/month.

If all of the above fail and you DO own another property- you might want to do a bridge mortgage and put some of the debt on your other home.

If you do not HAVE another home, then you have to save your credit or you will not be able to buy anything for 7 years--- you can go to the bank and see if they will do a "buy out" to save you from going to foreclosure. You actually just sign over the title to the bank and yes, you will have to pay off whatever difference there is left but at least it wont ruin your credit for life. Go to your bank-- have them discuss these option to you. If you have no other home - YOU should live in it and then you can write off the mortgage interest on your taxes----- you have options---- and there are attorneys who, usually are not well versed in real estate/mortgage options so I would choose one that specializes only in real estate law.... good luck to you.

John Beck Tax Sales, Tax Liens & Tax Foreclosure Real Estate System

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How To Find Foreclosure Listings Free

Question: Where can i find free foreclosure listings online ?

I been looking for a home to own not to resell. I been looking online for foreclosure listings but all ask to sign up and i dnt want to sign up because they ask for my card #. Is there any sites that don't require any sign ups and have the whole info about the houses not js the street

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Answer: Hi there, most of them charge.
You can google your bank and add foreclosure to it and you get to the bank foreclosure sites.
We have used Bank of America before, they have lots of listing.
Just type in "Bank of America real estate or foreclosure listings"
Also you can ask a local Real Estate company to e-mail or fax you all listings they have that are under foreclosure. That doesn't cost you anything.
Another option is to go to your Tax offices and/or Courthouse and ask where you can look up the information.

Good Luck!

HUD Listings for Free: Find Foreclosed Properties Online

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