Foreclosures Help Information

Posts Tagged ‘short’

Stop Foreclosure Sale

Question: Stop Foreclosure Trustee Sale?

We have received a date for a trustee sale on our house. we are behind 6 onths and have talked with a attorney. He wants us to file a BK but our income is too high.( so is our mortgage)..
Anyway I have two questions..
1. Is there anyway to stop the tustee sale without using a attorney??
2. If we file a BK to stay in the house a few more months, will it show on our credit report if we dont do anything past the filing??
Thanks
Confused & Broke

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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Foreclosed Golf Home

While going through foreclosure is tough on the property owner, in Phoenix you

will find it the perfect opportunity to invest in real estate.  If price is a real

concern for you, recent economic woes make this a great time to get a bargain. 

A reputable Arizona realtor can help you locate properties that suit your needs

as well as your budget.

Unfortunately, some homeowners feel that if they cannot keep their homes,

they don't want the bank to have it either.  What this sometimes leads to is

damage of the property.  Some people feel that if they do some damage to the

home, no one else will have it either.  However, reduced prices on real estate

that fits this description allow you to get a steal.  By doing a little work to the

home, you can resell at a tremendous profit.  One thing there is no shortage of

in Phoenix is affordable properties!

Sometimes the disrepair of the homes is not a direct result of the owner

purposely doing damage.  Often times, if they could not afford the mortgage

payment they could not afford to repair the roof or make other repairs that

needed to be done.  Many real estate properties in Phoenix make great

investments, and you can find a wide variety in various states of disrepair.  This

shabbiness is one reason the price may be so low.  Another reason may be that

the lender simply wants to recoup their investment in the property, which is why

they are often willing to take less than what the actual value of the property is

worth.

Even though you may find foreclosed real estate that have varying degrees of

damage, the repairs are often not costly to make.  If you are looking for a

beautiful home for your family or to simply invest in, many feel it is worth their

time and energy to make as many of the repairs as possible themselves.  This

will also help you save money.  When you consider that you may save tens of

thousands or even hundreds of thousands of dollars on the real estate you

choose, making a few repairs usually does not factor in to the decision too much.

Which would you rather do; spend $500,000 on an investment property or

family home, or spend $350,000 and make a few repairs yourself?  For most

people, the answer is obvious.  When you are ready to learn more about

available foreclosure properties in the Phoenix area, contact an experienced

and reputable Arizona realtor to help you find the perfect piece of real estate

for you.  It will be money very well spent.

About the Author:

Maureen Karpinski
Find your Phoenix

Arizona Property at Cactus Country Arizona Homes &

Properties

Source - Investing in Real Estate – Phoenix Foreclosures Allow You to Get More For Your

St. George Utah Golf Home for Sale - SunRiver Adult Community 4 Bed 3.5 Bath

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Mortgage Foreclosure Short Sale

Question: deed in lieu/foreclosure/short sale...?

Long story short... Bought a house (2 people), refinanced it into my name only after a year. We broke up, I left. He decides to not cover the payments anymore. I dont find out until I get served foreclosure papers...

What are my options that will least affect my credit?

* foreclosure
* deed in lieu
* short sale (and how to go about that)
* work out package to keep the house (mind you i dont live there and dont really want to)
* How long if I do the deed in lieu will the person living there be in the house
* Last but not least.. the other person on the deed is not on the mortgage via quit claim deed last year, how will all this affect his credit, as I know he is in the process of buying a house (bastard lol)...

Thank you veryyyyy much!!!

I need the best way out because I want to buy my own house in the near future...
SORRY-- I made a mistake... I signed a quit claim deed not him... stupid mistake huh...

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Answer: Big question here....You said "the other person on the deed is not on the mortgage via a quitclaim deed". You can't get off a mortgage via a quit claim but you can get off a deed, so did you mean "the other person on the mortgage is not on the deed via a quit claim"??

This is a huge difference, if you are both on the mortgage but only he is on the deed this is a whole different situation and you'd better just go repost this question with the correct wording, no answers with the wording reversed will be usable.

Foreclosure Short Sale, Mortgage & Real Estate Marketing, Save Your Credit Report Score

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