Foreclosures Help Information

Posts Tagged ‘Reo’

Nyc Foreclosed Homes

Question: Why Floridian economy is so bad?? we spent more that we earn to live a normal live.?

I moved from L.A., California to Miami, Florida 2 years ago, the only thing that I see here is a lot local people in foreclosed and big debts, victims of Real Estate fever. For example Home insurance is more expensive here that any where else. I think the only way to survive Florida is if you work in NYC or CA and buy a place here. Because with the Floridian local salary nobody can’t survive at least if you make like $100.000 or more. Miami,FL for example is only for rich people out state.

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Answer: Why not move to the Tampa Bay area where it's not so hard on real estate. Or Rent. When you rent, you don't pay home insurance or real estate taxes. Some people rent out a room in their house or some own a coop house like I lived in. Others rent apartments and don't pay for the insurance or real estate taxes. Plus it's a bit cheaper to rent in Florida. I know what u mean on other expenses. Car insurance is a pain in the @$$.
They have such high insurance and costs on housing because everything else like beer, food, gas, etc. is cheaper.
I can't explain why salaries are so low though. Seems so unfair. I couldn't find a good paying job that met my satisfaction.

New York Foreclosed Homes - NY

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VA Foreclosure Properties

Question: I bought a VA Foreclosure but the title wasn't transferred, what can I do?

Purchased a VA Foreclosure as investment property and financed it (VA Vendee) through CountryWide mortgage. Five years later when applying for a home equity loan was informed that the tite was never transferred to my name. Why could CountryWide give me a mortgage knowing the title wasn't transferred to my name? Can I get the title transferred in my name now?

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Answer: sounds like you have a contract for deed, Something here you are not aware of. I did that on a foreclosure from a bank once, and when it was paid off they then gave me a clean title. I made a fortune on that property, and still own it. Gives me almost $6500 a month income, with about $1000 a month in taxes...

Virginia Foreclosure Homes - VA

Bank Foreclosure Homes

Question: How do I purchase a foreclosure home that is owned by the bank?

I have found several home in foreclosure that the property is owned by the bank what is the next step? How do I find the MLS numbers and addresses? How do I find out if the price listed is the selling price? How to bid on the property?

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Answer: Your best bet is to contact the bank that owns the property directly.

They will put you in touch with the agent that has listed the property for sale, if there is an agent. The agent can provide you with the MLS number if there is one or you can look it up on www.Realtor.com using the street and city.

Otherwise, you would negotiate directly with the bank. If you have good credit and are not planning to pay all cash for the property, the bank may be willing to do the loan.

Are you looking for the addresses to the homes that are owned by the bank? Call the bank or the trustee and ask!

Where did you "find" these properties? If they were on a website with a list of foreclosures, you may need to sign up or register at the site to obtain that information.

Often, the price listed is the amount of the loan that has been defaulted on. Not necessarily the first loan which would have priority in a foreclosure sale...

$10k for a house is usually not the sale price. Did you find the listings on the Yahoo! foreclosure site?

Foreclosed Homes