Foreclosures Help Information

Posts Tagged ‘washington’

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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Washington Foreclosed Properties

Question: How do I register to buy foreclosure properties in Washington? Honest question, no spam please.?

I am considering a move to Washington from California. I am going to have a nest egg and woudl like the option of purchasing a foreclosure outright with cash. How do I go about getting on a list or whatever to be able to buy foreclosed properties. I am looking for answers here because all the sites online just want you to subscribe for that info. Thanks.

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Answer: You don't have to register anywhere. The auctions are published in local papers before they go up on the auction block.

In addition, your title company should be able to forward you lists, as should your real estate agent.

You can also use http://www.usa-foreclosure.com/home.aspx

To buy the property, you best bet is to work with a HEAVILY EXPERIENCED real estate agent that deals with foreclosed properties regularly. They will draw up the contracts in such a way that you are protected. If you go in there and hand cash to the bank, you could end up with hundreds of thousands of dollars in liens that show up 90 days after closing.

Washington Foreclosure Homes - WA

King County Tax Foreclosure Auction

Gather around children for a tale of royal power. Far back in history the king owned everything. (Does that remind you of Donald Trump?). Occasionally the king would grant property to a duke. Property ownership meant wealth, so the king would demand that the duke pay yearly taxes. To this very day much of the money that supports government comes from property taxes, for you see children, government is still king.

If the property owner fails to pay the tax the county government places a lien on that property. Every year property tax liens are sold at auction to the highest bidder. If the property owner fails to satisfy that tax lien the new owner of the lien can begin foreclosure and acquire the property. That seldom happens, but it is possible. Usually the liens are redeemed (paid) before the time limit expires.

You’ve probably seen the TV infomercial extolling the benefits of buying property tax liens. It’s true, property tax liens usually pay an above average rate of interest (it varies from state to state) and the lien is secured by some kind of real estate. Because of the infomercial and real estate seminars, tax lien investing has became very popular. There was a time in some counties when few people would show up at the property tax lien auction. These days the seminar gurus often arrive with bus loads of students ready to bid.

A good investment, yes, but there are some surprises for the uninformed. Because property tax sales occur each year, there may be liens on the same property, for different tax years held by different investors. Like this… Bill bought the 1980 lien; Hillary bought the 1981 lien and George was the successful bidder the next year when the 1982 liens were offered.

Here in Arizona the law is very clear that tax liens for different tax years held by different private parties have parity among themselves. So if the redemption period for Bill’s 1980 tax lien had expired without being paid he could foreclose on the property, but his foreclosure would not wipeout the liens held by Hillary and George. Bill might have a right to the property, but he could not get clear title until he pays off Hillary and George.

If Hillary and George had been influenced by that infomercial and thought that they could scoop up ownership of property for the simple price of a tax lien, well they are more than a little disappointed.

Oh, there could be one more surprise. Sometimes the state owns tax liens. When the state government forecloses all other privately held property tax liens are turned into waste paper.

Property tax liens certainly can be a good investment if you always keep one fact one mind… You are the duke and the government is the king!

About the Author:

Mark Walters Author. Mark is a 3rd generation real estate investor, author and all around entrepreneur. You can get access to his Free videos by going to www.CashFlowInstitute.com and www.CreatingWealthClub.com

Article Source: ArticlesBase.com – The Good And Bad Of Property Tax Investing

King County WA Tax Deed Sale December 2006 Foreclosure section phone 206-296-4184.

Washington Foreclosed Homes

Question: Bankruptcy and Forcloser question……?

I filed for bankruptcy about a year ago but contiued to make payments on my home. Now I can no longer afford to make the payments on my morgage loans. I know that the home was part of the bankruptcy but as long as I stayed current on the payments I would be fine. So my question is…If I stop making the payments, how long do I have before they foreclose on my home? Can I just pack the things I want and move into a rental and let the morgage lenders deal with the house? I dont think they can come after me for the money because it was part of the bankruptcy. I live in Washington State and I know it usually takes 90 to 120 days to evict but I was wondering if it would be quicker because of the bankruptcy. Basically any info on my situation would be helpful and refinacing and/or continuing the payments is not an option. I need to foreclose. Please only knowledgable people on this subject answer. Thank you.

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Answer: Find an investor who can work a short sale with the lender. There's really no reason to leave the house just yet. Stay in it and save your money, for now. But be sure that it was included in the BR though. There is also a deed in lieu of foreclosure where you just quit claim the house over to the lender to save them the expense of foreclosure. Or, you can just walk away and ignore it. But talk to your BR attorney and look at your credit report before you decide. If your BR has been discharged, I can't see how you won't be on the hook for the mortgage. Good luck.

Foreclosure auction in Pierce County, Washington

Foreclosure Law Washington State

Question: I have a question about Obama’s new law about modification loans and laws about houses.?

My friend who lives in california has a disabled person/handicap in their home who lives in their home. they found a law in california that since a disabled person lives in that home, that the house no matter what circumstances cannot be put on foreclosure and that the bank can not turn down a request for a modification loan for that house in which the disabled person lives. I live in the state of Washington and I have a disabled person living in my house. What i was wondering was, does the state of Washington have that same law because i requested for a modification loan for my house and i have been turned down quite a few times. If washington has this law, where can i find it?

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Answer: This is fourth grade civics.
Have you reached fourth grade yet?
Once again.
PAY ATTENTION THIS TIME.

The
president
does
not
make
any
laws
about
anything.

Congress
makes
all
the
US
laws.

NOW do you get it?

State Bailout for Homeowners CEPersVid-28