Upcoming Foreclosures
Bank Foreclosures Knowledge Base
Bank foreclosures? Does anyone know about bank owned foreclosures in nj. Someone told me banks had lists of foreclosures and I could buy a house for 200.00. Although the question may seem dumb or naive on many levels please don't answer if you don't have anything productive to say. Your sarcasm is not appreciated. For those who answered with other alternatives I am grateful for you assistance.
How do you find free listings for bank foreclosures? I'm shopping for a house in St. Petersburg, Fl and, like everyone else, am trying to get the most for my small amount of money. How do I get a free list of bank foreclosures?
does the halt on bank foreclosures signal the fall of banking infrastructure? I read that two major banks are putting a hold on all foreclosure proceedings. Does this effect the short-term or long term solvency of these very large institutions and will this cause further dismantling of the capitalist economy?
Is there a way to contact a bank for foreclosures? Bank of America owes a condo in my complex. Currently it has not been listed as a short/foreclosure so realtors and brokers don't know of it until it gets released. Is there a way I can make a deal directly with the bank? If so, how would I contact the bank etc.
With bank foreclosures and banks borrowing money from gov. what is it America needs? Someone who wants to spend billions on the world and fixing it or someone who focases on the U.S?
Does anyone know the difference between government foreclosures and bank foreclosures? Which is better or less hassle?
Can I get a list of bank foreclosures? I am interested in investing in local real estate. Can go to my local bank and request a list of foreclosed properties? How does this work?
How do I find a list of bank owned foreclosures in my area? We are looking to buy a house and have the benefit of being able to pay cash. I feel that I would be able to leverage this the most by buying a foreclosed property off a bank at a discount. Unfortunately this real estate market has made many lose their homes, we were fortunate enough not to be in the real estate market and want to take advantage of the opportunity. I am in Connecticut.
What is happening to our economy? Gas prices, Bank foreclosures? Are these things connected? If there is the one problem triggering our economic mishaps, what is it? Or are we just in a stage...? I thought a war was economically beneficial, supposed to bring IN money. Why the inflation?
Where can a 1st Homebuyer (or anyone) find a list of bank foreclosures in NY? thanks everyone. And is the loan procedure different for foreclosures? I appreciate your responses.
Bank foreclosures: Where and how to find them? Where do you start? Any secrets?
Where can I buy cheap bank foreclosure land for cheap? Or where can I find Canadian listings of foreclosures? Any certain website with foreclosure listings or cheap land for sale?
is there a totally free source of information re: bank foreclosures in the central Texas area? How can I locate the bank or lending source that holds the mortgage on a particular property? Thank you.
Bank of America Faulting all Foreclosures until when? Ok so on October 20th Bank of America accepted our offer on a house. Then on November 1st the house began escrow. I heard however, that Bank of America was halting all foreclosures like on October 8th. So I was wondering why they would accept our offer and then go into escrow. It was a foreclosure by the way. So I'm wondering if is it ever going to close escrow or whats going to happen. And when is Bank of America going to start selling their houses.
Who pays the property taxes on bank owned properties (foreclosures)? Considering the fact that bank owned properties (foreclosures) remain on the market in some cases for years, who is responsible for the taxes on these properties .
how to buy foreclosures directly from bank without realtors? how do you get foreclosures directly from the bank instead of getting them through a realtor? i went to wachovia and they gave me some bs site w no listings..... please answer me based on what you know, not what you think
Who has the BEST website (paid or free) to locate foreclosures and bank owned properties? I am considering a career change and have 350,000 to invest in the home foreclosure market with the intention of fixing the homes and keeping as rentals or flipping them.
Is it true that in foreclosures the bank can only sell the property for the amount of the loan? If not what why are some foeclosures a lot cheaper than regular houses (even considering any work needed to be done?)
How long do you think it could take until the Bank of America foreclosures go back on the maket? I was about ready to put on offer on a foreclosed home and now I am not sure if I should wait it out or buy another homes instead. How long do you think they could keep these homes off the market?
how to know about foreclosures from bank? I am willing to buy a condo from a bank froeclosure as I heard that they sell for cheaper prices.
Finding BANK FORECLOSURES FREE? With so many bank foreclosures happening lately. I was wondering what would be the best way to search for bank foreclosures for free. I did find HUD. Looking for something similar online. So please help find Bank Foreclosures. Thanks.
How do I see bank foreclosure in the web? I know about realtors, and agencies. I would like to buy from bank foreclosures, anyone know how I can get the listings for free? Thanks a lot.
How does an average person get their hands on bank foreclosure on properties? How do you get information on bank foreclosures on anything from homes to auto,boats, motorcycles etc etc, the USA has them all the time/ what about here in Canada.... specifically Ontario?
On a 1st Mortgage refinanced, will the bank issue a 1099, if foreclosures 2 yrs after the re-fi? Will the bank send a 1099 to the homeowner, or just take the house? Will the homeowner have to repay the loan anyway, even after its foreclosed?
Finding bank foreclosures? I was wondering if anyone could get me on the right path for finding bank foreclosures in Summit county Ohio. I'm looking for a website, or the correct "free" path to see what type of deals can be found on foreclosed houses in Summit County Ohio
I am looking into bank foreclosures, can anyone tell me a LEGITIMATE place to find them? I live in southern California and the only ones i find want me to send money--THANK YOU!!!!!!!!!!!
Is a mortgage co and a bank the same when it comes to having too many foreclosures on their books? Are foreclosures a liability to mortgage companies the same way they are to banks?
Where do I find those lists of bank foreclosures, REOs, pre-foreclosures, and/or any combination of for free? I had notes on this, but I lost them.
Why is it the big bank's fault for all the foreclosures in America? Last time I checked you needed to sign a sheet of paper which states the terms and conditions of your chosen agreement? Do these people not read the fine print? Where did the phrase 'buyer beware' go? These evicted people are screaming and yelling at people who are just doing their jobs, I wonder if they were screaming and yelling when they walked out of the bank with a fist full of money.
Who would i have to talk to at a bank about foreclosures?? ive heard of a house outside of my town that the owner let go to the bank!! but i dont know who to talk to or how to get information on it!!
Who at the bank is in charge of foreclosures? How do I get a hold of the person who is in charge of foreclosures??
What's the difference between bank foreclosure and homeowner's association foreclosure? My sister is already facing bank foreclosure but she also just got a letter saying that she will be facing homeowner's association foreclosure because of unpaid dues. They're filling a lien against her ... I don't understand the difference ... I thought only banks could foreclose.
WHY do the same people who cry socialism and decry bank bailouts, Applaud Foreclosures on peoples homes? even when the Foreclosures aren't legal ? well right here on this question several of you repeated the lie that "Barney Frank" did it.. and "It's called personal responsibility" even though predatory lending is well documented.. to me that equates "applause" ..
How to stop Bank Foreclosure because of back taxes? I owe several years of back taxes. How do I stop bank foreclosure because of back taxes? I am paying the taxes as much as I can a month.
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?
What should I offer on a bank foreclosure? I am looking for a bank foreclosure and will be paying cash. Should I offer what the bank is asking or can I offer less since I'm paying cash?
Is it a good idea or bad idea to put a bank foreclosure department in a real estate company? Is it a good idea to put a bank foreclosure department in a real estate company? I thought bank foreclosure departments are supposed to be seperate from real estate companies but never combined together.
Bank foreclosures and deficiencies in Georgia.? I live in the state of Georgia and have a rental property that has a mortgage. If I fail to continue paying the mortgage and it goes into foreclosure, can, or will, the lender come after my primary home in the event there is a deficiency ( home sells for less than the amount I owe on mortgage) when the home is sold.
Instead of foreclosures, should the bank try to renegotiate? with home owners? Would that help or hurt? The only reason I ask is because, if the banks and home owners were to negotiate, would there be a need to bail out the banks?
what do I do if bank of america is now freezing foreclosures? as the foreclosee.....what do I do now?
Bank of America is teetering on the brink of collapse due to fraudulent foreclosures: will people make a run? to pull their money out of it? Source: Many mainstream articles, including Yahoo news.
what is the difference between foreclosures, pre-foreclosures, and bank foreclosures.? which is better to purchase on your first flip
Where do I start checking for foreclosures in Illinois?How do I get the list from banks of their foreclosures? I live in Downers Grove, however I know there is a building in Chicago that I can go to check for foreclosures and to see if there are any liens and etc on them. Also, I'm interested in the lists that banks have of foreclosures. Can someone who has experience in buying foreclosures through their state and through their bank advise me on this. I thank you in advance for your kindness.
Would you inlude a Housing Counseling Department or a Bank Foreclosure Department With A Real Estate Company? If you are an ownereof a Real estate Company, would you include a housing Counseling Department or a Bank Foreclosure Department?
Is the real estate course offered by Bank Foreclosures Direct worth the money? I attended a seminar held by Bank Foreclosures Direct recently. However, the cost of the course is $1500, and they were not fourth coming with any guarantee. The information they claim to provide sounds incredibly useful, but I have not had much luck finding anything about the company online or through the BBB. Has anyone that attended the course found the information useful and would you recommend spending the money? Did the instructor offer more programs or mentoring at an additional cost? I am not interested in spending additional money beyond the cost of the program. Because I have not been able to find a BBB rating, I am apprehensive about spending the money on the program. I have read blogs stating that it is similar to Trump Education, and that the information is vague. One person says that it requires more time than they say. I have time, however, I do not have money to waste on a program that does not work. Thanks for the input.
What price should I ask for a bank foreclosure? I was wondering if anyone has ever bid on, and won a bank foreclosed home. If I should bid on a foreclosed home, how much lower than the asking price should I ask? If a home is listed let's say $75k, think I should low ball them? A price somewhere in the low $50'sK? The house I would like to bid on is in Central Texas. Although the housing market seems to be slow right now, it's not as slow in Texas as in other states. Thanks.
Today's news about Bank of America halting foreclosures in 23 states? I've tried to research all articles and can not find a listing of ALL 23 states...they just name some of the most hit states. Can anyone send me a link to the list of all 23 states that B of A is halting foreclosures? Or at least let me know if Texas is one of them? Thank You!
i would like to find cheap bank owned foreclosures,,, could you help.? i live in nyc and nJ y older brothe has this great application his iphone and he can find a foreclosure nearby with ease, is there a similar way to do it on the computer? he gets prices, pictures and an easy to use map... please help. thanks, Alex nyc
How does this work if one bank starts a foreclosure then sells to another bank before foreclosure is complete? I have a mortgage with one bank and could not pay so the bank started foreclosure proceedings. The foreclosure is not completed yet so does the new bank have to start all over and file all over again?
im looking to buy a house in flushing, new york at foreclosures or bank owned. how do i get a list? ? I was told to a courthouse. where is it? is there a site. thanks
If your home goes to foreclosure, can the bank place leans on your bank accounts? If I give my house to the bank as foreclosure can the bank put leans on my personal bank accounts and automatically deduct their monies each month? I live in Florida.
Where can I find a list of foreclosures without paying some website? I am looking to find lists of bank owned foreclosures in California, but I do not want to pay some website $50 to do a search for me. I know B of A has a search, but there are only a couple of listings. Does anyone know how I can get a list of foreclosures in California without having to pay anything? Thanks in advance!
How long does it takes for the bank to foreclosure a home? I dont know if im asking correctly, my niece is moving to my sister's home which she was unable to continue paying for ( she bought the house 3 years ago). My sister already move away to another state and left the house for foreclosure or for the bank to take since she can no longer pay and told my niece that she could move in until the bank takes it away. But our question is how long until the bank takes over the house physically? since she haven't pay for 3 months? Thanks for your answers.
How soon can a bank begin foreclosure proceedings? Does a bank have to wait until your 30 , 60 90 days late to begin foreclosure proceedings or can they begin as soon as 10 days. I live in Kentucky. My loan is due on the 1st I have a 10 day grace period. Could they begin as soon as the 11th if I don't pay?
A first look at bank foreclosure homes, your thoughts please? I am not looking to buy cheap, just better priced, and near where I work in Miami Beach, Florida. A friend suggested getting a list of bank foreclosures from an agent, comparing them with other listed homes in the same area, and said that at least I could be sure the title to each would be "clear". I have enough capital and credit to buy a couple of units, one to rent out. What other advantages is this market likely to offer me?
How do I recover appreciated property value from bank foreclosure? property value is 55k. bank foreclosed on 43k. can I get some of that appreciation from the bank? if so, how do I go about getting it?
Trust Account Question Concerning Bank Foreclosures? My mother has $100k in a CD, she also has 3 other CDs in the same bank (Wachovia) for a total of approx $60k. The CDs are in a trust account bearing my brother's and my name. Q: Because it is a trust acct under 2 people's names does the $100k FDIC rule apply here (meaning she's covered under FDIC for the full $160k)? Or is it considered just 1 name ("trust") and therefore she should get out the $60k ASAP and put it in another bank. Wachovia seems to be in trouble and I don't want to see her lose $60k (even tho she'd get a penalty for early withdrawal as these CD's don't mature till November 2008). TY for responding.
Are bank owned houses REO's and short sales asking prices negotiable? I wanted to know if bank foreclosures REO's and short sale home asking prices are negotiable? Do banks ever accept a lower offering price for property? Since REO (Real Estate Owned) is a property that goes back to the mortgage company after an unsuccessful foreclosure auction.
When will my mortgage bank report foreclosure to the credit burreau/ credit history? When will my mortgage bank report foreclosure to the credit burreau/ credit history? i haven't payed my mortgage for 3 months. when will my mortgage bank report foreclosure or when will it show on my credit history? i live in Pennsylvania. and the bank is Bank of America. Thanks.
what will banks do with existing foreclosures? i have a offer pending with a bank for a bank owned foreclosure. Didnt know if they might reject my offer and wait for a bail out.
Tampa FL Foreclosures at Courthouse $100 Bank bids ? This is specific to Tampa FL- courthouse home auction- why do banks have to bid on props they already have foreclosed on? Several banks bid $100 and some higher. I thought the title to the property was being auctioned by the bank, so why would they bid to buy back what they already own ? Why do they have to bid against others since one would assume they took back the property in foreclosure. Any info from county courthouse clerks, real estate attorneys, investors would be helpful to clarify the legal process and why banks bid.
My bank started foreclosure proceedings, but then declared bankruptcy! What happens next with my foreclosure? I have tried to resolve this since last year before foreclosure proceedings started, but have met a brick wall as I get no replies to phone calls, letters or emails. My bank was BankUnited. Any advice on what my next step should be or what my rights are? Thanks. Just wanted to clarify that it was the bank that went into bankruptcy and not me. I have not yet decided to file for personal bankruptcy.
How would I find dates and times on bank foreclosure auctions? I'm looking to buy a home in Mississippi for cash, preferably for a fraction of it's value. Can the general public go to these auctions?
foreclosures banks should take a little a month better then nothing a month tell the home owners on feet? you would think some thing a month is better then nothing a month , my hood has about 30 empty house that are just sitting there, falling a part grass is 3 feet high windows are broke out. you think the bank would take half payments tell the owners get back on there feet.
what is the right price for a foreclosure from the bank? The county has 3,372 foreclosures, the zip has 221 foreclosures, more are being added daily;homes are still declining in price avg days on market is increasing above 180 if we offer a lowball price on a lising for $199,000 what would we expect the bank to do? Home will be owner occupied. We are thinking $130k to start.
WIll a bank trade my condo for there house ? I would like to swap for a bank owned house. I still have equity in my condo, Would a bank consider this an option if they have a property that's about 100k more than my condo. I would refianance with that bank. With foreclosures happening everyday here in Las Vegas . To me it's a win win situation for the bank to move a higher price property and get my loan .
does anyone know how to go directly through a bank to buy a foreclosure property? I have heard you can do this- and would like to forego the realtor- go directly to a bank. I know they own their foreclosures- obviously- so this has got to be a possibility. Any feedback helps. Thank you
how do i find current bank Foreclosure Properties for free in north carolina? i found a lot of website most are not free and it seem like they are old listings .. thanks for you help i really need it
Has anyone had experience buying a foreclosure from Bank of America? My husband and I made an offer on a foreclosure that Bank of America owns. We offered 5,000 below the asking price and asked them to pay closing costs. What are the odds that they would agree to the terms of the contract? Has anyone had experience buying a foreclosure from Bank of America? Thanks in advance!
Help me write a letter to the bank requesting foreclosure? My friend signed all the paper work for bankruptcy and the bankruptcy lawyer told her to fax a letter to the bank to let them know that she cant make anymore payment and the bank can do a Foreclosure on the house. Can someone please help me write this letter as i don't wanna make any mistake.what exactly she should say to make it urgent and brief.also how long can she stay in the house for she is behind 4 month's of payments. i will appreciate all your help.Thank you
What happens to a tenant's lease after a bank foreclosure & public auction (commercial real estate in Texas)? Landlord allowed bank to foreclose on the building we were tenants in. The building went to auction, but there were no bidders. The bank became the owners. As tenants, what happens to our lease? What are our rights/options? It's commercial real estate in Texas. Thanks so much for any help. So are tenants month-to-month? Are the leases void? What if the bank doesn't offer a new, reasonable lease? Thanks.
National City Bank foreclosure - Cash For Keys question? We are renting and our landlord is facing foreclosure in 3 weeks. Does anybody know if National City Bank offers a "cash for keys" program? If so, how much do they normally offer?
How can I find out what bank holds ownership of a foreclosed home? I am interested in house listed as a foreclosure bank owned, but need to know how much money is needed to acquire it. I don't know what bank to contact. How can I find out, or can I?
Can attorneys representing the bank in a foreclosure tell a tenant not to pay rent and that they can stay? Can the atty representing the bank tell a tenant...(one who is behind on rent for nearly 6 months and will not get out of the house) tell the tenant that they can stay until the foreclosure is complete and that the landlord can do nothing? Little odd since it is this type of tenant and others like him that put the landlord in foreclosure....Landlord also wants to know what his rights are when it comes to the rents and filing bk? Can what rents he is able to collect be used by a maintenance company to keep the property in good repair and occupied through the process?
why there is the foreclosure fee in ICICI bank is 5%, while it is 2% only within 2years in SBI groups? In SBI group of banks the foreclosure charges for a loan is only 2% within 2 years. After that there is no foreclosure fee. In ICICI bank they charge 5% as foreclosure fee. Is there is any remedy for this?
Questions about carrying costs for a bank-owned foreclosure property? I can’t find any internet sources on this so hopefully someone here can help. I am more than willing to do the calculations myself if someone has a formula for this. If a bank foreclosed on a mortgage that was somewhere between $150-160,000, what would it cost that bank per month in carrying costs? If you can’t give me a number, can you at least define "carrying costs?" I understand that it’s the cost of owning the home until it sells, but what items/expenses make up the actual cost? Is it just the foregone mortgage payments? Thanks so much in advance!
What to offer on a $200,000 asking price bank foreclosure? Needs cosmetic help per listing. No major repairs The single home is listed at $200,000. We have not looked at yet but assuming we like it, what is a fair LOW offer. The listing said it's in need of cosmetic help.
There is a bank owned foreclosure that has been vacant for 4 years and I am interested in it how do I get it? The house is not on the market and the bank claims they have no record of the house, but they are paying the taxes on the house and the city forestry bills when the city cuts the grass. How do I go about getting this house. It is falling apart and I can't get a straight answer from anyone. Wells fargo bank is on the deed as owners and they are paying all the bills........
How much will bank bid at Foreclosure Auction? I have been looking to purchase a house but it has went to foreclosure and will be auctioned off at the county court house this week. The current owner owes the bank $890,000 for his existing mortgage. If I were to bid at the auction, would the bank bid all the way up to $890,000? Or, would they stop at a lower bid? what is the norm?
What is a bank's responsibility for a foreclosure's interior? We are going to closing on a foreclosure--incredible neighborhood and great potential for the home. However, the interior of this house was destroyed by squatters who graffitied and punched holes in every wall, removed the door knobs and tore off cabinets. I realize that it is pretty much an "as is" deal, but when my parents bought a foreclosure the bank had made repairs and whitewashed the entire home before we moved in. Just curious. We have so much to do before we can start living there.
How do banks lose on loan foreclosures? If the bank owns the property after receiving mortgage payments, how does that put them into a losing situation. How many foreclosures occurred this year? How have housing starts afected the collapse of so many banks?
when an apartment complex goes on foreclosure , when bank takes over? I am the property manager in this apartment complex , is goping on foreclosure December 2nd, is the dame day the bank takes over or when they when they control the property?
Will a bank pay or replace appliances in a home if you want to buy it? I would like to buy a home, but would like the seller (a bank) to make some repairs or replace a couple of large appliances (furnace, hot water heater). Is it ok that I ask them to do this and how likely are they to do it? This is a bank owned foreclosure.
During Foreclosure, does the bank have a right to collect the money from your other assests,incuding accounts? It is hard to find info about the person being foreclosed on, and what are the steps that happen to them. Does the bank try to get a collecting agency to liquidate all your assets, so they get their money? Is there anyone that has been through foreclosure in Florida, that can explain and advise me of the process, for the person being foreclosed? Leave your email and I will contact you.
I live in Florida and the bank just filed for foreclosure. How long do I have to vacate my home? I received the papers 2 weeks ago that our bank is foreclosing on our home. I have not received any additional information, but we are not fighting the foreclosure. The truth is we can not afford our home due to my husband's job loss. How long do we have before we are evicted, and what is the notification process for this eviction? Can they just show up unannounced and throw us out? I am clueless. Thank you.
Real estate question, What was your experience in buying a bank owned foreclosure? How much was it listed at? How much did you get it at? Was the house in decent shape or needed lots of repairs? How long did the whole process take? Just researching. Also Im more interested about the less than 30 thousand dallor stories then higher ones.
How do you buy a house that is in foreclosure or bank owned? We are looking to buy a home and have seen several homes in our area that are foreclosed (bank owned). How do you go about buying these homes? Can you really buy one of these homes?
How can i benefit from the banks helping foreclosures? im not in danger of losing my home, but and adjustment would be nic. I have FM at 5% but with the rates dropping and people getting additional help to keep their homes, is there anything that i can do the benefit from it. I do not want to skip payments to give them a reason though?
If I had a foreclosure on a house, doesnt all the bank loans get paid off? One bank from that foreclosure still shows up on my credit report saying that I still owe them. What should I do to get rid of it? i even got a lawyer and he said it has been paid off, but I contacted the credit bureau and they still insist I owe the bank.
How long can a bank owned foreclosure last on the market in maryland right now at the beginning of winter? It is close to Washington dc for less than 50K, SFH, as is, needs major fixes, they are offering it for a renovation loan or a cash deal
Is there a website worth looking at for bank foreclosures? Me and my husband are looking to buy a house. Is there a website where you can look at bank foreclosures without having to pay for using the site?
Where can i find bank owned foreclosures? I know that the banks give out their list of R.E.O.'s to brokers. How do i find these brokers? Thank you.
How do I find out how many foreclosures my bank has? I want to know if my bank is in danger of folding. Exactly how do I find out how many foreclosures my bank has?
what happens to your escrow money after foreclosure and the bank takes possession? The bank took possesion this month on my house that foreclosed. We escrowed taxes and insurance for a year in advance. What happens to that money when the bank ownes the house now? Do I have to cancel my own insurance or does the mortgage co do that? My situation sux but Im sure it has happened to alot of good people.. Thanks in advance!
How late do you have to be on your mortgage payments before a bank will start foreclosure procedings? My sister, a nurse, is off work due to a broken leg and her husband (deadbeat) quit his job just a couple of days after she got hurt and hasn't gotten a new one in the last 5 weeks. She doesn't have sick leave or temporary disability insurance. She missed this month's mortgage payment. She will probably be off work another 4-6 weeks if her leg heals okay. So that means missing at least a second and maybe a third payment. But her doctor worries with the type of fracture she had that it may rebreak after she gets the cast off and tries to walk on it with even a boot. Then he would have to do surgery with plates and pins. She could be off work for up to 3 months more if that happens, which would put her missing almost 6 payments. I don't want her to lose her house, but I don't want to give her any money until she is truly at risk because I don't want her husband to benefit from it.
How many skipped mortgage payments before the bank can begin foreclosure? Lost job in the begining of May. Paid May mortgage payment, but only a fraction of June's. It is now July 21. Can the bank foreclose already? I just sent $600 but still owe $1,000 of June's mortgage.
What are your options when a bank has filed foreclosure on your residence? Can you just bring your loan up to date and have it restored? Does one have the right to owrk out a payment plan with the finacial institution? Can the payments be put on the end of your mortgage like in a forebearance case? If your house is sold by the bank do you get the difference between the loan and the equity present in the property? I owe @ $2500 on a 600k house in which my equity should be over 400k. Any suggestions?
questions about bank-owned foreclosures.? are there any hidden disadvantages to buying a bank-owned home? if you have any knowledge that would help me in any other way regarding to this question it would be grate if you could add that to! thanks ;D
So Califonria -Bank of America - Mortgage Foreclosures? How does Bank of America foreclose on their mortgage loans? Will they pursue a Deficiency Judgement on their mortgage and HELOC? I know each bank at each state does differently. Will Southern California BOA go after home owner? Does the "one-action" rule mean the California Banks can only choose one action over another by either Foreclosue the property and take whatever the proceed (which may be less than the loan amount )or take a Deficiency Judgement against the home owner?
I currently have a invest property that will go into foreclosure. Can the bank take my primary residence? I am concerned. I am in the first stages of this situation and i called the bank the other day telling them i could no longer afford the payment. I would like to work out an afforable payment plan with them but i have my primary residence which has a quite a bit of equity and also another investment property which also has equity in it. i am concerned that they will want to secure the payment plan by possibly placing a lien or something on one of the properties and if i can not afford the pymnt in the future my biggest concern is them taking my own primary residence. also when i got the loan i think they are under the impression that the house that is going into foreclosure is my primary residence. i live in southern ca
Can someone define these terms to a student researching foreclosures? I compiled a list of foreclosures off realtytrac.com and I am doing a demographic study of the affected zip code. The web site differentiates between the following terms: Pre-foreclosure; Auction; Bank-owned; FSBO; Resale Any knowledge at what determines the housing status would be greatly appreciated, it doesnt have to be too detailed, I just want to be able to filter what I need.
In foreclosure situation: can bank take less of original loan balance? It is not foreclosure yet, but probably possible. I had 2 surgeries, lost business . Situation. Is any chance to negotiate with bank amount of original loan ? Can somebody give me advise, please.
HELP?!?! How long does it take for the bank to accept an offer on a pre-foreclosure home? I put an offer on a pre-foreclosure home. The sellers signed it and were really excited about the offer and passed it onto the bank. I don't know that much about pre-foreclosures, so how long will it take to find out if I got the house or not? Yes, I am offering less than owed on the unit. But I AM offering market value.
Can I get a loan on a bank-owned foreclosure anywhere? I'm looking into purchasing a condo that has been foreclosed and is now owned by a bank. It's priced at around $37K. Would I be able to shop around for a loan anywhere I want? Or are there certain restrictions on where/who I can get a loan from when it comes to these types of properties?
my home went into foreclosure and the bank bought the home back for less than was owed on it.? If the bank is going to file a lawsuit for the balance owed how long does it take for the bank to let you know if there are going to file? It's been 4 months since foreclosure. And the difference was $40K. Or will the bank just right if off.
Do the banks actually prefer foreclosures? The looming housing crisis acutally seems fairly simple to forestall or fix. It seems to me that anything is better than a default, right? When the mortgage holder defaults, the lender gets nothing. Therefore, if there were to be a massive conversion of all these two year ARMs to reasonable fixed rate mortgages, the potential crisis could be wholly averted. But this isn't happening. This leads me to believe that the banks actually prefer foreclosure and firesale which typically results in another mortgage. I think the problem may be that the mortgages are no longer held by the banks. They have been collateralized and sold as investment vehicles. So they bank is not left holding the worthless mortgage, rather, the CDO investor is left holding the worthless mortgage. Therefore, the bank doesn't really give a sht. But in this scenario, shouldn't the defaulted house actually belong to the investor rather than the bank? Can anyone comment intelligently on this?
What does my PMI cover, and why has this not covered the losses of recent foreclosures? I thought any mortgage with less than 20% down will automatically be paying for PMI (primary mortgage insurance). Why has this not minimized the bank losses with recent foreclosures? Why am I paying it?
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