January - February 2005 Archives




: (3)

  • Posted by chip on February 19, 2005 at 15:00:59:

    Hi, I'm looking for some help in doing a short sale for my home. I live in Austin, TX and I'm looking for an agent who can help me accomplish this. I've read about agents in other states who negotiate short sales for pre-foreclosure homes, anyone in Austin? If so, please email me. I need to get my home sold fast! It's only a year old and is gorgeous! But, I can no longer afford it. Also, can anyone tell me what the foreclosure process is like in Texas? Should I secure an apartment now given my credit is about to take a hit? Should I move out now? I am current but about to be 30 days late on a 305k loan.Thanks in advance.

    : (4)

    • Posted by Donnie on February 28, 2005 at 09:25:47:

      In Reply to: Need help with Short Sale Posted by chip on February 19, 2005 at 15:00:59:

      : Hi, I'm looking for some help in doing a short sale for my home. I live in Austin, TX and I'm looking for an agent who can help me accomplish this. I've read about agents in other states who negotiate short sales for pre-foreclosure homes, anyone in Austin? : If so, please email me. I need to get my home sold fast! It's only a year old and is gorgeous! But, I can no longer afford it. Also, can anyone tell me what the foreclosure process is like in Texas? Should I secure an apartment now given my credit is about to take a hit? Should I move out now? I am current but about to be 30 days late on a 305k loan.: Thanks in advance.



      : (0)

    • Posted by TheShortSalePro on February 20, 2005 at 11:13:49:

      In Reply to: Need help with Short Sale Posted by chip on February 19, 2005 at 15:00:59:

      Can you estimate the property's value in it's as-is (gorgeous) condition? Is your financial hardship temporary, or permanent? Are there any other liens against you and/or the property?

      : (2)

      • Posted by chip on February 20, 2005 at 16:23:50:

        In Reply to: Re: Need help with Short Sale Posted by TheShortSalePro on February 20, 2005 at 11:13:49:

        : Thanks for your response. The appraisal on the home was for 340k about 6 months ago, when I purchased it. I am asking far less, just to cover my closing costs and loan. Comps in the area show I am below average in price.

        : Can you estimate the property's value in it's as-is (gorgeous) condition? Is your financial hardship temporary, or permanent? Are there any other liens against you and/or the property?



        : (0)

      • Posted by chip on February 20, 2005 at 16:23:47:

        In Reply to: Re: Need help with Short Sale Posted by TheShortSalePro on February 20, 2005 at 11:13:49:

        : Thanks for your response. The appraisal on the home was for 340k about 6 months ago, when I purchased it. I am asking far less, just to cover my closing costs and loan. Comps in the area show I am below average in price.

        : Can you estimate the property's value in it's as-is (gorgeous) condition? Is your financial hardship temporary, or permanent? Are there any other liens against you and/or the property?



        : (0)

  • Posted by Julianne Offerdahl on February 19, 2005 at 14:46:34:

    15 months ago my position in NC was fazed out prompting a return to GA. The home in NC has not sold to date, the home in GA is a rental.If I decide to allow the NC home to be forclosed what can I expect?

    : (2)

    • Posted by Ray on February 21, 2005 at 09:25:30:

      In Reply to: Unsold home Posted by Julianne Offerdahl on February 19, 2005 at 14:46:34:

      : 15 months ago my position in NC was fazed out prompting a return to GA. The home in NC has not sold to date, the home in GA is a rental.If I decide to allow the NC home to be forclosed what can I expect?

      You can expect to lose your credit basically but you may have a chance to come out like a rose. There are some people I know who could not sell a certain home so as they had to move because of promotions etc they:1 Looked up a realty company to oversee the property.2 This means the realty rents the property on behalf of (you the client) and collects all rent and forwards it to you so you can make the payments. This way someone else pays off the property while you are in another state and you will have full equity after it ispaid off.

      : (0)

    • Posted by esther on February 20, 2005 at 18:23:07:

      In Reply to: Unsold home Posted by Julianne Offerdahl on February 19, 2005 at 14:46:34:

      In NC there are situations where the banks may be allowed to come after you for the amount of loan debt not covered by the sale. It is called a "Deficiency Judgement" more than likely if it were a Judicial Foreclosure meaning they had to go to court to foreclose. In NC there is both Judicial and Non Judicial foreclosure.

      Your credit will be the biggest issue of course.There will be both the debt and the public record of foreclosure on your credit report.

      But you can pay to get those fixed.



      : 15 months ago my position in NC was fazed out prompting a return to GA. The home in NC has not sold to date, the home in GA is a rental.If I decide to allow the NC home to be forclosed what can I expect?



      : (0)

  • Posted by lisa newsom on February 19, 2005 at 07:50:02:

    hi my name is lisa and i too am in forecloser on my home. who did you get to help you? i am a single mother and don't want to lose my home my daughter and i have no where else to go. please email me as soon as you can. thank you for your time. lisa

    : (1)

    • Posted by Donnie H. Best, Sr. on February 28, 2005 at 09:32:23:

      In Reply to: foreclorse help needed also Posted by lisa newsom on February 19, 2005 at 07:50:02:

      : hi my name is lisa and i too am in forecloser on my home. who did you get to help you? i am a single mother and don't want to lose my home my daughter and i have no where else to go. please email me as soon as you can. thank you for your time. lisa



      : (0)

  • Posted by lisa newsom on February 19, 2005 at 07:49:28:

    hi my name is lisa and i too am in forecloser on my home. who did you get to help you? i am a single mother and don't want to lose my home my daughter and i have no where else to go. please email me as soon as you can. thank you for your time. lisa

    : (2)

    • Posted by Ray on February 21, 2005 at 09:44:36:

      In Reply to: foreclorse help needed also Posted by lisa newsom on February 19, 2005 at 07:49:28:

      : hi my name is lisa and i too am in forecloser on my home. who did you get to help you? i am a single mother and don't want to lose my home my daughter and i have no where else to go. please email me as soon as you can. thank you for your time. lisa

      You don't give enough information. Do you have an income to make any type of a payment? Is your lender hooked up with HUD? If your lender does loans through HUD they can help more than anyone. Contact HUD in your area and see what they say. Some people take chapter 13 bankruptcy that will stop foreclosure for a little time. This is only done as last resort because you still have to have an incometo make the payments of whatever the court decides you must pay. The bankruptcy only last for 5 years in most cases and you will have to go back to full payments. But in our state if you owe other debts theyare usually wiped off and you could possibly afford your house payments. Again you need an income to make payments or you will get in worse shape. If this fails get in touch with HUD and seek a low income rental as they are obligated to help any citizen in housing. If you cannot afford anything at all they may be able to put you in a low cost housing project for nothing if you have children or unable to work.



      : (0)

  • Posted by Jeff on February 19, 2005 at 05:10:51:

    Our home is currently for sale: $87,500.00. We owe 72,000 on 1st mortgage and 22,000. It looks like the house may sell for what we are asking even though it is not worth that (it is a double wide on 5 acres). By the time we pay the realtor, we will have 82K, will be able to pay off the 1st mortgage and our 2nd mortgage (homeq) has already said they will probably approve a short sale (I have the packet to complete now). We want to buy another home. My credit score is 696 currently. The mortgage broker that is working our potential loan for the new home said that a short sale will show up on our credit and will bring my score down..it will show up on the credit report as a write off. It may keep me from getting a loan approved according to him, or at least make the interest rate/down payment alot higher. I don't understand this, as I have not missed a payment on anything for 24 years. Also, getting rid of the 2nd mortgage will decrease my debt to income ratio and I will have 700-800 dollars excess income after paying my bills and a 600.00 house note. Isn't there some way I can get past this? Thanks for any advice.

    : (2)

    • Posted by Ray on February 21, 2005 at 09:55:12:

      In Reply to: Short Sale Posted by Jeff on February 19, 2005 at 05:10:51:

      : Our home is currently for sale: $87,500.00. We owe 72,000 on 1st mortgage and 22,000. It looks like the house may sell for what we are asking even though it is not worth that (it is a double wide on 5 acres). By the time we pay the realtor, we will have 82K, will be able to pay off the 1st mortgage and our 2nd mortgage (homeq) has already said they will probably approve a short sale (I have the packet to complete now). We want to buy another home. My credit score is 696 currently. The mortgage broker that is working our potential loan for the new home said that a short sale will show up on our credit and will bring my score down..it will show up on the credit report as a write off. It may keep me from getting a loan approved according to him, or at least make the interest rate/down payment alot higher. I don't understand this, as I have not missed a payment on anything for 24 years. Also, getting rid of the 2nd mortgage will decrease my debt to income ratio and I will have 700-800 dollars excess income after paying my bills and a 600.00 house note. Isn't there some way I can get past this? Thanks for any advice.

      Some people in your position turn the home over to a realty company so they can keep it rented. The realty companies have a way to get credit reports and keepreal good renters in a home in most case where the average person gets hooked on rent. The realty company will take care of all the business and collect the rent and pass it along to you so you can keep up the payments. It's worth a try.



      : (0)

    • Posted by drew on February 19, 2005 at 09:51:45:

      In Reply to: Short Sale Posted by Jeff on February 19, 2005 at 05:10:51:

      Question:if your house is currently in foreclosure, which I assume it is since you are talking short sale, your credit is already damaged or will be once it shows up on your credit under the mortgage information unless your broker gets the loan done before the information hits the airwaves. A short sale wont show up on your credit, unless the state you live in allows for deficiency judgements but you should negotiate with the bank before you sell telling them you wont allow the sale unless the bank puts in writing that if you do a short sale on the property they wont pursue a deficiency judgement against you for the difference. (Keep in mind that the debt forgiveness on your loan will be reported as income and you will pay tax on it.) However all of your mortgage lates will show on your report. Sometimes it takes months for the information to update with the credit reporting bureaus. Some banks allow for this and if your credit report stays at a 696, which I dont know how thats possible with mortgage lates (which really damage credit scores) but Ive seen brokers get things done. PS- I would get a new broker, yours has no idea what they are talking about. Your knowledge is more correct than his.

      : Our home is currently for sale: $87,500.00. We owe 72,000 on 1st mortgage and 22,000. It looks like the house may sell for what we are asking even though it is not worth that (it is a double wide on 5 acres). By the time we pay the realtor, we will have 82K, will be able to pay off the 1st mortgage and our 2nd mortgage (homeq) has already said they will probably approve a short sale (I have the packet to complete now). We want to buy another home. My credit score is 696 currently. The mortgage broker that is working our potential loan for the new home said that a short sale will show up on our credit and will bring my score down..it will show up on the credit report as a write off. It may keep me from getting a loan approved according to him, or at least make the interest rate/down payment alot higher. I don't understand this, as I have not missed a payment on anything for 24 years. Also, getting rid of the 2nd mortgage will decrease my debt to income ratio and I will have 700-800 dollars excess income after paying my bills and a 600.00 house note. Isn't there some way I can get past this? Thanks for any advice.



      : (0)

  • Posted by Chris on February 18, 2005 at 11:01:19:

    We have just been confirmed in our 13 BK and have receiced a letter from the attorneys representing the mortgage comp. requesting a relief of stay. In the documents it states we are behind on payments in the amount of @ $8,100. I have not been able to determine where this this figure has come from. What options are available to me? Will I be forced to foreclose? Help.

    : (12)

    • Posted by Chris on February 21, 2005 at 12:11:47:

      In Reply to: Relief of Stay - Texas Posted by Chris on February 18, 2005 at 11:01:19:

      : We have just been confirmed in our 13 BK and have receiced a letter from the attorneys representing the mortgage comp. requesting a relief of stay. In the documents it states we are behind on payments in the amount of @ $8,100. I have not been able to determine where this this figure has come from. What options are available to me? Will I be forced to foreclose? Help.

      Additional Comments from Chris:

      We've made our payments to the mortgage company, just a little bit late each month, but w/in the month owed due to when our paychecks come in. I talked w/the attny and I have to prove that the payments have been made for Dec/Jan/Feb for him to file a motion...which they have told me was not part of the "original agreement" and will cost me more $$ for them to do this. Also, when we had our plan confirmed by the judge, the judge almost did not approve it...making the comment we should not be in his court but in a financial counselor's office...then begrudingly accepted our plan. So, my fear is that when this hearing goes to court before the same judge, he will grant the lenders request. This is such a nightmare and right now, I don't see any way out and I don't want to lose my house.

      : (6)

      • Posted by Donnie H. Best, Sr. on February 28, 2005 at 09:47:51:

        In Reply to: Re: Relief of Stay - Texas Posted by Chris on February 21, 2005 at 12:11:47:

        : : We have just been confirmed in our 13 BK and have receiced a letter from the attorneys representing the mortgage comp. requesting a relief of stay. In the documents it states we are behind on payments in the amount of @ $8,100. I have not been able to determine where this this figure has come from. What options are available to me? Will I be forced to foreclose? Help.

        : : Additional Comments from Chris:

        : We've made our payments to the mortgage company, just a little bit late each month, but w/in the month owed due to when our paychecks come in. I talked w/the attny and I have to prove that the payments have been made for Dec/Jan/Feb for him to file a motion...which they have told me was not part of the "original agreement" and will cost me more $$ for them to do this. Also, when we had our plan confirmed by the judge, the judge almost did not approve it...making the comment we should not be in his court but in a financial counselor's office...then begrudingly accepted our plan. So, my fear is that when this hearing goes to court before the same judge, he will grant the lenders request. This is such a nightmare and right now, I don't see any way out and I don't want to lose my house.



        : (0)

      • Posted by Janie on February 22, 2005 at 13:40:50:

        In Reply to: Re: Relief of Stay - Texas Posted by Chris on February 21, 2005 at 12:11:47:

        What does this statement mean? I'm having trouble following your thought process.

        Chris wrote:

        "prove that the payments have been made for Dec/Jan/Feb for him to file a motion...which they have told me was not part of the "original agreement" and will cost me more $$ for them to do this."

        Are you saying you didn't make those payments because you thought it was part of an agreement?

        : (4)

        • Posted by Chris on February 22, 2005 at 14:52:42:

          In Reply to: Re: Relief of Stay - Texas Posted by Janie on February 22, 2005 at 13:40:50:

          I have been making these payments. I made the Jan payment a little late, but w/in the month of Jan. My attorney wants me to show proof to him that I made these payments (cancelled checks) before the he, attorney, will file a motion to deny...which has a 15 day time frame. For me to have the attorney file the motion to deny, he is going to charge me additional fees...stating that the original amount paid to him did not include this additional work on his part.

          : What does this statement mean? I'm having trouble following your thought process.

          : : Chris wrote:

          : "prove that the payments have been made for Dec/Jan/Feb for him to file a motion...which they have told me was not part of the "original agreement" and will cost me more $$ for them to do this."

          : : Are you saying you didn't make those payments because you thought it was part of an agreement?



          : (3)

          • Posted by Janie on February 22, 2005 at 18:35:44:

            In Reply to: Re: Relief of Stay - Texas Posted by Chris on February 22, 2005 at 14:52:42:

            Here we go again. Bankruptcy attorneys are notorius for bailing out when things get tough. The main reason being most are nothing more than paper preparers. Very few are litigators.

            You got a mess on your hands. If your a quick learn, then get busy and prepare the motion to oppose.

            It's not difficult and you can do it yourself. If you're out of time, file a motion for extension of time to respond. Tell the judge your attorney is refusing to help and you need more time.



            : (2)

            • Posted by Chris on February 22, 2005 at 22:07:29:

              In Reply to: Re: Relief of Stay - Texas Posted by Janie on February 22, 2005 at 18:35:44:

              My main fear is the judge will accept the lenders motion and grant it. When we had our confirmation hearing, the judge made comments about our financial situation, stating we should be in financial counseling and filing a chap. 7. Our attorney told us we were lucky he granted our plan and to hope we never have to appear before that judge again. Is there hope?

              : Here we go again. Bankruptcy attorneys are notorius for bailing out when things get tough. The main reason being most are nothing more than paper preparers. Very few are litigators.

              : : You got a mess on your hands. If your a quick learn, then get busy and prepare the motion to oppose.

              : It's not difficult and you can do it yourself. If you're out of time, file a motion for extension of time to respond. Tell the judge your attorney is refusing to help and you need more time.



              : (1)

              • Posted by Janie on February 23, 2005 at 21:57:29:

                In Reply to: Re: Relief of Stay - Texas Posted by Chris on February 22, 2005 at 22:07:29:

                Look, you've got to stop focusing on the problem and focus on the solution. The worst thing to do is what you are doing - paralyzing yourself with fear.

                First off, did you and your attorney play funny with the facts on your plan? Why on earth would a judge make that comment, and worse, is it highly suspect that your attorney is making irresponsible comments.

                If your attorney pushed something through that should not have been, it would explain why he's bailing on you.

                You've got two options.

                1. Lie down and play dead and lose everything;

                2. File an opposition.

                If it were me, I'd fire that sorry excuse for an attorney.

                : (0)

    • Posted by esther on February 20, 2005 at 18:32:37:

      In Reply to: Relief of Stay - Texas Posted by Chris on February 18, 2005 at 11:01:19:

      : We have just been confirmed in our 13 BK and have receiced a letter from the attorneys representing the mortgage comp. requesting a relief of stay. In the documents it states we are behind on payments in the amount of @ $8,100. I have not been able to determine where this this figure has come from. What options are available to me? Will I be forced to foreclose? Help.

      ----------------

      Ask your attorney to file a motion requesting a full audit of payments to the mortgage company because there are discrepancies and request the denial of the relief of stay until discrepancies resolved by court and a payment plan has been agreed upon.

      Good Luck!!

      : (0)

    • Posted by Janie on February 19, 2005 at 21:02:35:

      In Reply to: Relief of Stay - Texas Posted by Chris on February 18, 2005 at 11:01:19:

      Several things could be going on. Here are a few possibilities:

      1. Your attorney did not include the full amount owed in your petition papers;

      2. You have not made your payments directly to the lender in addition to the payments to the trustee;

      3. The lender has errored;

      Do not rely 100% on your BK attorney. There are horror stories a mile long about BK attorneys bailing on clients when times get rough.

      Be pro-active. Read the Motion for Relief from Stay. The grounds for the request are in those papers.





      : (1)

      • Posted by Chris on February 21, 2005 at 10:51:13:

        In Reply to: Re: Relief of Stay - Texas Posted by Janie on February 19, 2005 at 21:02:35:

        : Several things could be going on. Here are a few possibilities:

        : 1. Your attorney did not include the full amount owed in your petition papers;

        : 2. You have not made your payments directly to the lender in addition to the payments to the trustee;

        : 3. The lender has errored;

        : : Do not rely 100% on your BK attorney. There are horror stories a mile long about BK attorneys bailing on clients when times get rough.

        : Be pro-active. Read the Motion for Relief from Stay. The grounds for the request are in those papers.

        :

        We've made our payments to the mortgage company, just a little bit late each month, but w/in the month owed due to when our paychecks come in. I talked w/the attny and I have to prove that the payments have been made for Dec/Jan/Feb for him to file a motion...which they have told me was not part of the "original agreement" and will cost me more $$ for them to do this. Also, when we had our plan confirmed by the judge, the judge almost did not approve it...making the comment we should not be in his court but in a financial counselor's office...then begrudingly accepted our plan. So, my fear is that when this hearing goes to court before the same judge, he will grant the lenders request. This is such a nightmare and right now, I don't see any way out and I don't want to lose my house.

        : (0)

    • Posted by Ray on February 18, 2005 at 11:42:47:

      In Reply to: Relief of Stay - Texas Posted by Chris on February 18, 2005 at 11:01:19:

      : We have just been confirmed in our 13 BK and have receiced a letter from the attorneys representing the mortgage comp. requesting a relief of stay. In the documents it states we are behind on payments in the amount of @ $8,100. I have not been able to determine where this this figure has come from. What options are available to me? Will I be forced to foreclose? Help.

      Why don't you contact your attorney who filed your chapter 13 and let him explain everything. In our state we get our information from the attorney who did the bk for you and from what the court says. In our state the bankrupt court dictates what you pay per month and for how long. It even enclude the attorneys fees. If the court has taken over the payments they should be able to tell you how much per month you are able to pay according to your income. You are to give the court a breakdown of all your expenses that you are paying including food, laundry, utilities, insurance, auto payments, auto insurance, school activities of the children, tuition, and anything else that involves money. Good luck



      : (0)

  • Posted by Rod on February 18, 2005 at 02:07:57:

    San Bernardino, Ca, Foreclosure has not started yet but will soon will be 3 months behind the 1st of March, I have Renters in the house, what are there options and how long do they have before they have to move. Just can not help it and want to give them oportunity to stay as long as they can.

    : (4)

    • Posted by Ward-CA- on February 18, 2005 at 09:01:45:

      In Reply to: 3 months behind San Bernardino, CA have Renters Posted by Rod on February 18, 2005 at 02:07:57:

      Rod,

      In CA, tenants that hold over after the trustee's sale are entitled to a 30 day notice to vacate from the winning bidder.

      If they don't move out within the time period stated in the notice they will be subject to an eviction (unlawful detainer) which could appear on their credit report for years.

      Hope this helps,

      Ward

      ~~~~~~~~~~~~~~~~

      : San Bernardino, Ca, Foreclosure has not started yet but will soon will be 3 months behind the 1st of March, I have Renters in the house, what are there options and how long do they have before they have to move. Just can not help it and want to give them oportunity to stay as long as they can.



      : (0)

    • Posted by Rod on February 18, 2005 at 02:10:00:

      In Reply to: 3 months behind San Bernardino, CA have Renters Posted by Rod on February 18, 2005 at 02:07:57:

      : San Bernardino, Ca, Foreclosure has not started yet but will soon will be 3 months behind the 1st of March, I have Renters in the house, what are there options and how long do they have before they have to move. Just can not help it and want to give them opportunity to stay as long as they can.



      : (1)

      • Posted by Rod on February 18, 2005 at 02:11:05:

        In Reply to: Re: 3 months behind San Bernardino, CA have Renters Posted by Rod on February 18, 2005 at 02:10:00:

        : : San Bernardino, Ca, Foreclosure has not started yet but will soon will be 3 months behind the 1st of March, I have Renters in the house, what are there options and how long do they have before they have to move. Just can not help it and want to give them opportunity to stay as long as they can.



        : (0)

  • Posted by TB in OHIO on February 17, 2005 at 19:10:57:

    Our house will be sold at auction shortly. Is the above ground pool considerd part of the house? There is no big deck or anything around it but it is dug down about 2 ft. and is 24 ft across. Would I be in trouble if I took the pool and left the hole? Thanks for your help

    : (5)

    • Posted by Ray on February 18, 2005 at 08:18:07:

      In Reply to: is pool part of house Posted by TB in OHIO on February 17, 2005 at 19:10:57:

      : Our house will be sold at auction shortly. Is the above ground pool considerd part of the house? There is no big deck or anything around it but it is dug down about 2 ft. and is 24 ft across. Would I be in trouble if I took the pool and left the hole? Thanks for your help

      I don't guess what I am telling you is any help in the sense that you want. In most states anything that is attached to the property in some way as an out buildingbarn, shed are considered part of the property. A mobile home can be oved because it has wheels on on it ans of course other things as cars, trucks, and personal belongings. The same is true with any thing attached to the house that your nailed there. If you only dug down a portion of the top of a hill to level it up I personall take it with me if I wanted it. If it is uuried into a concrete foundation I would leave it there. The only thing they could do is take you to court and let a judge rule on such a trival matter. I really doubt that they would do such a thing if you had just scraped the upper corner to level a pool for a child. After all if the land had been level and it had been setting there wouldn't you have been able to take it? Since you are losing your home all the small things in life you have accumulate do become more prescious. You wouldn't leave your clothes would you? You wouldn't leave the dog house would you? Basically I say if it is not in a concrete foundation of some sort and you only leveled a spot to set it you should be home free.



      : (0)

    • Posted by Jim V on February 17, 2005 at 21:34:59:

      In Reply to: is pool part of house Posted by TB in OHIO on February 17, 2005 at 19:10:57:

      but is retention of the above ground pool really the most important part of this process to you?I read lots of really bad situations, and you're worried about your pool? Sorry, but that's just a litle too materialistic for me.

      : Our house will be sold at auction shortly. Is the above ground pool considerd part of the house? There is no big deck or anything around it but it is dug down about 2 ft. and is 24 ft across. Would I be in trouble if I took the pool and left the hole? Thanks for your help



      : (3)

      • Posted by Ward-CA- on February 18, 2005 at 09:03:36:

        In Reply to: I'm sorry... Posted by Jim V on February 17, 2005 at 21:34:59:

        : but is retention of the above ground pool really the most important part of this process to you?: I read lots of really bad situations, and you're worried about your pool? Sorry, but that's just a litle too materialistic for me.

        : : Our house will be sold at auction shortly. Is the above ground pool considerd part of the house? There is no big deck or anything around it but it is dug down about 2 ft. and is 24 ft across. Would I be in trouble if I took the pool and left the hole? Thanks for your help



        : (2)

        • Posted by Jim V on February 18, 2005 at 14:28:41:

          In Reply to: Why not fill the hole?? (nt) Posted by Ward-CA- on February 18, 2005 at 09:03:36:

          Hi Ward,

          I think that's something just over 900 cubic feet of dirt that I'm guessing isn't piled up next to the pool. I'm willing to bet the hole will be filled, but it'll be by a future property owner

          : (1)

          • Posted by Bill H on February 19, 2005 at 18:36:32:

            In Reply to: Re: Pretty big hole!!! Posted by Jim V on February 18, 2005 at 14:28:41:

            : : Hi Ward,

            : I think that's something just over 900 cubic feet of dirt that I'm guessing isn't piled up next to the pool. I'm willing to bet the hole will be filled, but it'll be by a future property owner

            Now Jim....why not dig it deeper and make an in ground pool? Think Positive....If you get lemons...make lemonade. Bill H

            : (0)

  • Posted by Cindy on February 17, 2005 at 16:14:57:

    My Uncle and Aunt own a Motel in KS and it is in foreclosure, along with a home and storage area. Apparently they owe $50,000 in back taxes. The motel is not making any money and they are up for a "friendly foreclosure". They have tried to sell the motel for almost a year. This is my question.....Should they also declare bankruptcy? If there is a Friendly Foreclosure do they still owe the back taxes? We want to help them but do not want to throw good money at a bad situation. Please advise

    : (1)

    • Posted by Don on February 18, 2005 at 08:47:57:

      In Reply to: Motel Foreclosure Posted by Cindy on February 17, 2005 at 16:14:57:

      : My Uncle and Aunt own a Motel in KS and it is in foreclosure, along with a home and storage area. Apparently they owe $50,000 in back taxes. The motel is not making any money and they are up for a "friendly foreclosure". They have tried to sell the motel for almost a year. This is my question.....Should they also declare bankruptcy? If there is a Friendly Foreclosure do they still owe the back taxes? We want to help them but do not want to throw good money at a bad situation. Please advise

      In most case the property stands for the taxes and the person who has that property is responsible. If the lender takes back the property he is the person who will have to pay those back taxes at least that is the way it is in our state. Maybe you should call an attorney in your area with the pretense you are going into bankruptcy so he will open up and tell you what you need to know. Call three or four if you need to but do not take bankruptcy as the property is already gone. What can they do? You don't have the property anymore and the property stands for the taxes. They cannot sell you but they can sell the property no matter who owns it. Get the picture. I have assumed this is property taxes but I may have the wrong idea and you may be talking income taxes. There are several rules that apply before you can go into bankruptcy on income taxes. Those taxes must have been owed for a certain time plus three of four other things. Go into a search ingine like google and type in bankruptcies and see what everything says if you are talking of income tax. Even than if your folks own no property there is a homestead act in each state that allows the so much property as a car and if both work maybe two cars as work vehicles and clothes and hosehold items. Another case like Willie Nelson let them go to court and settle it once and for all. The IRS has a habit of billing a $3,500 tax bill andthey will multiply it by 10 making it a $35,000.00 tax bill and they will take it if you give it to them. Soit may be well to consider bk if it is the IRS because they will shorten your life and drive you to the grave. By all means if it is an IRS tax you will have to take bankruptcy to clear it or they will follow your aunt and uncle from job to job and attach their wages. You are talking ablut a 4 headed monster. Don't agree to trying to pay anuthing on a monthly basis because they take what you give and the interest and penalties still get bigger and bigger. Do not take bankruptcy until all those requirements are fulfilled or you can not bankrupt the IRS.



      : (0)

  • Posted by Nathan on February 16, 2005 at 20:45:07:

    I'm in Texas . . . .if there is a deed in lieu of foreclosure will this still be reported in my credit report and if so will it have as big of an effect.

    : (6)

    • Posted by Bill H on February 17, 2005 at 21:18:12:

      In Reply to: Deed in lieu of Forcelosure Posted by Nathan on February 16, 2005 at 20:45:07:

      :nt I'm in Texas . . . .if there is a deed in lieu of foreclosure will this still be reported in my credit report and if so will it have as big of an effect.



      : (2)

      • Posted by Jim V on February 17, 2005 at 21:44:38:

        In Reply to: Your Call...Roll the dice...take your chances.... (nt) Posted by Bill H on February 17, 2005 at 21:18:12:

        You called odds on whether I'd get a response or not. Haven't seen a response, do I owe you a dinner or something? I'll gladly set it up, tell me what and where, I'll do it. Within reason, of course, I'm not going to pop for a dinner in Greece. :)

        Thanks for contributing.

        Jim

        : (1)

        • Posted by Bill H on February 18, 2005 at 01:58:41:

          In Reply to: Re:Different thread, but I guess you're a winner. Posted by Jim V on February 17, 2005 at 21:44:38:

          : : You called odds on whether I'd get a response or not. Haven't seen a response, do I owe you a dinner or something? I'll gladly set it up, tell me what and where, I'll do it. Within reason, of course, I'm not going to pop for a dinner in Greece. :)

          : Thanks for contributing.

          : Jim

          Hi Jim:

          No dinner, just your friendship and the opportunity to contribute now and then.

          Having been around this business for some time now, these "fly by night" "get rich quick" guys are a dime a dozen and I have yet to see on respond responsibility.

          Thansk again for the offer and thanks for running a very nice board.

          Good Luck,Bill H

          Two things we all need to remember

          There is a God and you are not Him.

          : (0)

    • Posted by Reinstatement Services, Inc. on February 17, 2005 at 10:32:01:

      In Reply to: Deed in lieu of Forcelosure Posted by Nathan on February 16, 2005 at 20:45:07:

      : I'm in Texas . . . .if there is a deed in lieu of foreclosure will this still be reported in my credit report and if so will it have as big of an effect.



      : (2)

      • Posted by Nathan on February 17, 2005 at 11:34:31:

        In Reply to: more likely, yes. [nt] Posted by Reinstatement Services, Inc. on February 17, 2005 at 10:32:01:

        I just had my credit report pulled about a month ago to check my credit and see where I stand. My property loan is a hard money loan and not through a conventional lender so when I pulled my credit score my mortgage loan was not on my credit score and I've had it for over 7 months, I actually have two properties from the same lender and they were not on my credit report. So I was thinking that if I had a Deed in Lieu of Foreclosure that it probably would not show up on my credit score either being that it's not a full blown foreclosure but rather a voluntary conveyance. What do you think about my situation? Do you think the DEED IN LIEU will show up on my credit report given these circumstances?

        : I'm in Texas . . . .if there is a deed in lieu of foreclosure will this still be reported in my credit report and if so will it have as big of an effect.



        : (1)

        • Posted by Jim V on February 17, 2005 at 21:28:53:

          In Reply to: Re: more likely, yes. [nt] Posted by Nathan on February 17, 2005 at 11:34:31:

          If your mortgage loan isn't being reported by the hard money lender, it's possible that they also wouldn't report a DIL. But, the actions by an individual lender are really impossible to predict. A DIL is going to be somewhat better than a foreclosure, if it is reported, but not by a whole lot. Short sale, if you can, it's really not a lot better, but at least establishes that you are attempting to resolve the problem.

          : (0)

  • Posted by chris on February 16, 2005 at 18:22:16:

    I'm looking for some advice. I own a home in Texas, and i'm about 30 days past due. I really don't believe I will be able to save the house. It's about a year old, I have it for sale. But, I don't know if I will get what I owe. What should I do? I have heard of "quick sales". How do they work? What if I'm short of the debt. I have no savings left. Also, I need to try to get an apartment before it's too late...my credit will be ruined soon, right? Please help me...I need to get a plan, quick. Also, I have a 1st and 2nd loan--total 305k. Both are with the same company. Does that make any difference? My husband lost his job. Thanks in advance.

    : (4)

    • Posted by charles on February 16, 2005 at 21:06:28:

      In Reply to: Foreclosure in Texas Posted by chris on February 16, 2005 at 18:22:16:

      : I'm looking for some advice. I own a home in Texas, and i'm about 30 days past due. I really don't believe I will be able to save the house. It's about a year old, I have it for sale. But, I don't know if I will get what I owe. What should I do? I have heard of "quick sales". How do they work? What if I'm short of the debt. I have no savings left. Also, I need to try to get an apartment before it's too late...my credit will be ruined soon, right? Please help me...I need to get a plan, quick. : Also, I have a 1st and 2nd loan--total 305k. Both are with the same company. Does that make any difference? My husband lost his job. Thanks in advance.



      : (3)

      • Posted by charles on February 16, 2005 at 21:34:02:

        In Reply to: Re: Foreclosure in Texas Posted by charles on February 16, 2005 at 21:06:28:

        : : I'm looking for some advice. I own a home in Texas, and i'm about 30 days past due. I really don't believe I will be able to save the house. It's about a year old, I have it for sale. But, I don't know if I will get what I owe. What should I do? I have heard of "quick sales". How do they work? What if I'm short of the debt. I have no savings left. Also, I need to try to get an apartment before it's too late...my credit will be ruined soon, right? Please help me...I need to get a plan, quick. : : Also, I have a 1st and 2nd loan--total 305k. Both are with the same company. Does that make any difference? My husband lost his job. Thanks in advance.

        Sorry if this posted more than once. It took me a moment to figure out how to reply.I am a Realtor. I am required to disclose that.My reply to you is based on my personal experience as I lost my home to forclosure.First and formost, what are the prospects of your husband obtaining a job in the next 30 -45 days?Your mortgage company will not start forclosure proceedings until you are behind 3 payments. They do not want to forclose on your home! They will, if you contact them, work with you to help you stay in your home. If you can't work out a resolution ( their resolutions may not work for you) you still have time to make your transition. Since you are in your home less than a year, you probably have no equity so you will be hard pressed to sell. What is the market like where you live? Are there alot of homes for sale , in forclosure, builder still building in the area?I am, unfortunatly not familar with short sales and such( I came to this site to learn) or I would not habve lost my home. However adressing your getting an apartment etc, If you are not going to be able to save your home know that you have at least 90 -120 days or more depending on what part of Texas you are in. The "foreclosure" will take an additional 30 days or more to show up on your report so you don't necessarily need to get an apartment right away. Are you keeping up you other credit obligations?If you credit is good, you might be able to get an interest only re finance.Bottom Line. You have some time, don't panic. There may be options to save your home and if they don't pan out there are other options. This is not the end of the world and you will be able to buy again.Remember, this is not professional advice, nor legal advice, just a person who just experienced the process trying to you comfort so you can sleep withoutstressing prematurely.E mail me if you like charleshendrix@kw.com

        : (0)

      • Posted by charles on February 16, 2005 at 21:07:20:

        In Reply to: Re: Foreclosure in Texas Posted by charles on February 16, 2005 at 21:06:28:

        : : I'm looking for some advice. I own a home in Texas, and i'm about 30 days past due. I really don't believe I will be able to save the house. It's about a year old, I have it for sale. But, I don't know if I will get what I owe. What should I do? I have heard of "quick sales". How do they work? What if I'm short of the debt. I have no savings left. Also, I need to try to get an apartment before it's too late...my credit will be ruined soon, right? Please help me...I need to get a plan, quick. : : Also, I have a 1st and 2nd loan--total 305k. Both are with the same company. Does that make any difference? My husband lost his job. Thanks in advance.



        : (1)

        • Posted by joann huffhines on February 23, 2005 at 12:06:44:

          In Reply to: Re: Foreclosure in Texas Posted by charles on February 16, 2005 at 21:07:20:

          : : : I'm looking for some advice. I own a home in Texas, and i'm about 30 days past due. I really don't believe I will be able to save the house. It's about a year old, I have it for sale. But, I don't know if I will get what I owe. What should I do? I have heard of "quick sales". How do they work? What if I'm short of the debt. I have no savings left. Also, I need to try to get an apartment before it's too late...my credit will be ruined soon, right? Please help me...I need to get a plan, quick. : : : Also, I have a 1st and 2nd loan--total 305k. Both are with the same company. Does that make any difference? My husband lost his job. Thanks in advance.

          where in Texas is the house located. I am looking for a house in Texas and I may be able to help you. My email address is jhuff23@msn.com

          : (0)

  • Posted by Bill on February 16, 2005 at 15:24:36:

    My house was recently sold at foreclosure auction. there will be some extra money left over after the mortgage companies debts are paid. How do i go about collecting this myself. As soon as possible. There are people asking to help me for 10 percent of the money i am entitled to. I really need all the cash I can get so i dont want to involve anyone else. Can anyone tell me the steps i have to take to get my money so i can start my new life. Thank you

    : (2)

    • Posted by Bill H on February 16, 2005 at 21:37:19:

      In Reply to: collecting overage on foreclosure? Posted by Bill on February 16, 2005 at 15:24:36:

      : My house was recently sold at foreclosure auction. there will be some extra money left over after the mortgage companies debts are paid. How do i go about collecting this myself. As soon as possible. There are people asking to help me for 10 percent of the money i am entitled to. I really need all the cash I can get so i dont want to involve anyone else. Can anyone tell me the steps i have to take to get my money so i can start my new life. Thank you

      DO NOT pay anyone to help you get the overage.

      Normally what happens, and it may take a few days, is the trustee will ascertain that ALL liens are paid in full and then the money will be sent to you.

      You can check this process by calling the trustee who held the sale and inquiring. They will most likely need the sale number, date, time, etc. verification of the fact that you were the owner.

      Do not know where you are so these answers are general. Some states have different requirement. Ask your trustee.

      Good Luck,Bill H

      : (1)

      • Posted by Queti on March 06, 2005 at 00:30:17:

        In Reply to: Re: collecting overage on foreclosure? Posted by Bill H on February 16, 2005 at 21:37:19:

        : :Could you please make the answer specific to New York

        ThanksQueti



        : (0)

  • Posted by Mark Cicero on February 15, 2005 at 17:48:56:

    If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com

    : (9)

    • Posted by Jim V on February 15, 2005 at 19:54:11:

      In Reply to: foreclosure consultants Posted by Mark Cicero on February 15, 2005 at 17:48:56:

      Mark,

      Since ads aren't allowed on this board, this conversation will pretty much be skating on thin ice, but here goes.

      What makes you believe an average person has the skills and/or capability for successful foreclosure mediation? What makes your company so sure that someone not experienced in this business can make 10k a month?

      Although your original post really seemed to me like late night infomercial type spam, I'd really like to explore this topic without this turning into a "hostile" type thread.

      Hopefully, you can expand on what it would actually take for a person to successfully help other people save their homes from foreclosure.

      : If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com



      : (8)

      • Posted by Bill H on February 15, 2005 at 23:21:19:

        In Reply to: Re: foreclosure consultants Posted by Jim V on February 15, 2005 at 19:54:11:

        : Mark,nt: Since ads aren't allowed on this board, this conversation will pretty much be skating on thin ice, but here goes.

        : What makes you believe an average person has the skills and/or capability for successful foreclosure mediation? What makes your company so sure that someone not experienced in this business can make 10k a month?

        : Although your original post really seemed to me like late night infomercial type spam, I'd really like to explore this topic without this turning into a "hostile" type thread.

        : Hopefully, you can expand on what it would actually take for a person to successfully help other people save their homes from foreclosure.

        : : If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com



        : (7)

        • Posted by drew on February 19, 2005 at 09:56:04:

          In Reply to: Jim... 8 to 5 you do not get a reply (nt) Posted by Bill H on February 15, 2005 at 23:21:19:

          Foreclosure consultants-dumpster divers=taking advantage of victims of foreclosure. Why do you think they want to hire people to do their dirtywork? They are either charging a $495 stop foreclosure fee, which the person in foreclosure can do themselves or they are knocking on doors trying to pick up distressed owners homes. Both of which are shady and why they are looking for people to do all of the henchmans leg work. $10K a month? Give me a break. Do you think people in foreclosure want an uninvited door knocker at their home? Do you think losing their home is their only problem?

          : : Mark,: nt: : Since ads aren't allowed on this board, this conversation will pretty much be skating on thin ice, but here goes.

          : : What makes you believe an average person has the skills and/or capability for successful foreclosure mediation? What makes your company so sure that someone not experienced in this business can make 10k a month?

          : : Although your original post really seemed to me like late night infomercial type spam, I'd really like to explore this topic without this turning into a "hostile" type thread.

          : : Hopefully, you can expand on what it would actually take for a person to successfully help other people save their homes from foreclosure.

          : : : If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com



          : (6)

          • Posted by jack nichols on March 20, 2005 at 22:05:57:

            In Reply to: Re: Jim... 8 to 5 you do not get a reply (nt) Posted by drew on February 19, 2005 at 09:56:04:

            : Foreclosure consultants-dumpster divers=taking advantage of victims of foreclosure. Why do you think they want to hire people to do their dirtywork? They are either charging a $495 stop foreclosure fee, which the person in foreclosure can do themselves or they are knocking on doors trying to pick up distressed owners homes. Both of which are shady and why they are looking for people to do all of the henchmans leg work. $10K a month? Give me a break. Do you think people in foreclosure want an uninvited door knocker at their home? Do you think losing their home is their only problem?

            : : : Mark,: : nt: : : Since ads aren't allowed on this board, this conversation will pretty much be skating on thin ice, but here goes.

            : : : What makes you believe an average person has the skills and/or capability for successful foreclosure mediation? What makes your company so sure that someone not experienced in this business can make 10k a month?

            : : : Although your original post really seemed to me like late night infomercial type spam, I'd really like to explore this topic without this turning into a "hostile" type thread.

            : : : Hopefully, you can expand on what it would actually take for a person to successfully help other people save their homes from foreclosure.

            : : : : If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com



            : (1)

            • Posted by bill nichols on March 20, 2005 at 22:07:55:

              In Reply to: Re: Jim... 8 to 5 you do not get a reply (nt) Posted by jack nichols on March 20, 2005 at 22:05:57:

              : : Foreclosure consultants-dumpster divers=taking advantage of victims of foreclosure. Why do you think they want to hire people to do their dirtywork? They are either charging a $495 stop foreclosure fee, which the person in foreclosure can do themselves or they are knocking on doors trying to pick up distressed owners homes. Both of which are shady and why they are looking for people to do all of the henchmans leg work. $10K a month? Give me a break. Do you think people in foreclosure want an uninvited door knocker at their home? Do you think losing their home is their only problem?

              : : : : Mark,: : : nt: : : : Since ads aren't allowed on this board, this conversation will pretty much be skating on thin ice, but here goes.

              : : : : What makes you believe an average person has the skills and/or capability for successful foreclosure mediation? What makes your company so sure that someone not experienced in this business can make 10k a month?

              : : : : Although your original post really seemed to me like late night infomercial type spam, I'd really like to explore this topic without this turning into a "hostile" type thread.

              : : : : Hopefully, you can expand on what it would actually take for a person to successfully help other people save their homes from foreclosure.

              : : : : : If your looking to pursue a different way to make money in foreclosure real estate and want to create a win/win situation for yourself and the person in foreclosure, contact me to find out how. We are looking for agents in major metro areas that are self starters looking for a new career that will make them 10k plus per month. E-mail me at foreclosureconsultantsinc@hotmail.com



              : (0)

          • Posted by Mark Cicero on February 19, 2005 at 17:14:44:

            In Reply to: Re: Jim... 8 to 5 you do not get a reply (nt) Posted by drew on February 19, 2005 at 09:56:04:

            I don't check message boards often enough, but I don't mind replying to posts. Why the negativity? Does it stem from lack of understanding or jealousy that there are people out there doing the right thing and being compensated for it. Not all homeowners can handle the loss mitigation work on their own. Compare it to changing oil on a car, is it that easy? maybe, but I have never done it, I would rather leave it to the experts. As for how can one make 10k per month, well our average revenue per client is $800, and of that the independent agent recieves 50%, so $400 per client and the average agent closes 8 deals per week, which brings the total commision to 3,200 per week, factor in expenses of about $300 and that leaves $2,900 per week, which is well over 10k per month. We help hundreds of homeowners every month with what we find to be the best and most economical solution available to them. They keep their home and save it from foreclosure for the cost of a mortgage payment. And lastly, our agents only help facilitate the transaction, ie the help fill out the loss mitigation paperwork and so forth. We have a loss mitigatiion team in house that does all the negotiations with the clients lender. So yes the average person can, and does do well. We look for self starters and those highly motivated. Is it that easy? no, it is a lot of work, usually 50 hours per week, but how many jobs are out there paying 6 figures? Amd we charge no up front fees to join our company. So hope this clarifies things more for those that dont think some things are possible.



            : (3)

            • Posted by Jim V on March 01, 2005 at 22:57:20:

              In Reply to: 8 to 5, well looks like you loose Posted by Mark Cicero on February 19, 2005 at 17:14:44:

              Mark,

              Sorry for the delay, but there were things higher priority for me.

              I think we can throw the "lack of understanding, jealousy, doing the right thing" stuff right out the window.

              I have, in fact, changed oil in a car more than a few times. I also drove over 50 miles, each way, this past weekend to deal with a vehicle mechanical issue. That's what I'd consider a bad analogy.

              If we can get back to the point, why do you feel that a person, with no lending or real estate background, can both provide a beneficial solution to a person in distress, and convince the lender that the proposed solution is, in fact, realistic.

              So, without quoting from brochures, or sales material, what does a person need to know to successfully represent and obtain a viable workout plan from a lender?

              You state that you have a loss mitigation team "in house", so I'm assuming a quick trip down the hall will be all that it takes to get answers to my questions.

              However, I won't hold my breath waiting for the response from your "in house" people.

              : (0)

            • Posted by Tom(MI) on February 20, 2005 at 09:41:04:

              In Reply to: 8 to 5, well looks like you loose Posted by Mark Cicero on February 19, 2005 at 17:14:44:

              Do you return the $800 if you are unable to save the home from foreclosure?

              : (1)

              • Posted by Mark Cicero on February 20, 2005 at 18:43:54:

                In Reply to: Re: 8 to 5, well looks like you loose Posted by Tom(MI) on February 20, 2005 at 09:41:04:

                : Do you return the $800 if you are unable to save the home from foreclosure?

                We only charge the consulting fee if we are able to help the homeowner. If we cannot work out a payment restructuring thru their foreclosing lender we do not charge them anything. Their are several companies out their that are MLM based that do not offer refunds which is unfortunate and they are giving everyone in the consulting/ loss mitigation business a bad name. I do not tear down my competition to build myself up, but those companies that are taking homeowners money and doing nothing for them know who they are. If anyone wants to get into a legitemate loss mitigation company and are willing to work hard and earn a good living please contact us at foreclosureconsultantsinc@hotmail.com



                : (0)

  • Posted by nohope on February 15, 2005 at 15:55:33:

    Knowing that foreclosure is the WORST thing to have on my credit report, are there any hopes of me getting another home. I have a good start on my savings as far as a down payment. Any help/info is appreciated.

    : (5)

    • Posted by ali rosenstein on February 21, 2005 at 12:04:26:

      In Reply to: Any hope on purchasing a new property after foreclosure? Posted by nohope on February 15, 2005 at 15:55:33:

      : Knowing that foreclosure is the WORST thing to have on my credit report, are there any hopes of me getting another home. I have a good start on my savings as far as a down payment. Any help/info is appreciated.



      : (0)

    • Posted by JJ on February 15, 2005 at 23:23:21:

      In Reply to: Any hope on purchasing a new property after foreclosure? Posted by nohope on February 15, 2005 at 15:55:33:

      Hi Nohope:

      Not true...you can get a new mortgage 1 day after you are out of foreclosure and bankruptcy. You do not need to wait the usual 2 yrs. And if you still have a FICO score of 600+, show FULL DOC income, you can get up to 100% LTV loan.Hope that helps.

      : Knowing that foreclosure is the WORST thing to have on my credit report, are there any hopes of me getting another home. I have a good start on my savings as far as a down payment. Any help/info is appreciated.



      : (0)

    • Posted by Ray on February 15, 2005 at 18:42:30:

      In Reply to: Any hope on purchasing a new property after foreclosure? Posted by nohope on February 15, 2005 at 15:55:33:

      : Knowing that foreclosure is the WORST thing to have on my credit report, are there any hopes of me getting another home. I have a good start on my savings as far as a down payment. Any help/info is appreciated.

      Sure there is as many have found out. It can take a little time in some cases such as two years or so and not over 5 years as the credit bureaus normally drop the bad credit reports except in a bankruptcy. There are several ways to to start a clean record in creditand they are too in depth to explain. But I will give you a good way. 1 Go to your local bank and make a savings deposit of $1,000.00 andask for a line of credit on a credit card from them and ues your savings as collateral to the limit of $1,000.00. Then use the credit card a few times and pay it off early each time and have a zero balance.2 Go to a second bank and do the same thing over again.3 Go to the 3rd bank and do the same thing again and you will show credit with 3 different banks.



      : (0)

    • Posted by Ray on February 15, 2005 at 18:40:50:

      In Reply to: Any hope on purchasing a new property after foreclosure? Posted by nohope on February 15, 2005 at 15:55:33:

      : Knowing that foreclosure is the WORST thing to have on my credit report, are there any hopes of me getting another home. I have a good start on my savings as far as a down payment. Any help/info is appreciated.

      Sure ther is as many have found out. It can take a little time in some cases such as two years or so and not over 5 years as the credit bureaues normally drop the bad credit reports except in a bankruptcy. There are several ways to to start a clean record in creditand they are too in depth to explain. But I will give you a good way. 1 Go to your local bank and make a savings deposit andask for a line of credit on a credit card from them and ues your savings as collateral to the limit of $1,000.00. Then use the credit card a few times and pay it off early each time and have a zero balance.2 Go to a second bank and do the same thing over again.3 Go to the 3rd bank and do the same thing again and you will show credit with 3 different banks.



      : (0)

  • Posted by Debbie on February 15, 2005 at 14:47:17:

    My lender sent me a Loss Mitigation Package for several options (forebearance, partial claim, etc.) to apply for and also one for a pre-foreclosure sale/short sale. Can someone give me any information on this this would work? Do I stay in the home? Do I make the payments during this time period? Thanks!!

    : (4)

    • Posted by Donnie H. Best, Sr. on February 28, 2005 at 09:56:34:

      In Reply to: Need Info on Pre-Foreclosure Sale in GA Posted by Debbie on February 15, 2005 at 14:47:17:

      : My lender sent me a Loss Mitigation Package for several options (forebearance, partial claim, etc.) to apply for and also one for a pre-foreclosure sale/short sale. Can someone give me any information on this this would work? Do I stay in the home? Do I make the payments during this time period? Thanks!!



      : (0)

    • Posted by Ray on February 15, 2005 at 18:49:28:

      In Reply to: Need Info on Pre-Foreclosure Sale in GA Posted by Debbie on February 15, 2005 at 14:47:17:

      : My lender sent me a Loss Mitigation Package for several options (forebearance, partial claim, etc.) to apply for and also one for a pre-foreclosure sale/short sale. Can someone give me any information on this this would work? Do I stay in the home? Do I make the payments during this time period? Thanks!!

      Sure you stay in the home. Why don't you call your local HUD office and let them handle it for you. You must have money or an income to keep the home or you will have to short sale or some other option. If HUD is in any way hooked up with that lender they have several ways to help you.



      : (0)

  • Posted by Ann-Marie Stewart on February 15, 2005 at 13:43:55:

    we are currently not in foreclosure because we have filed chapter 7 bankruptcy, discharge date 3/12/05. I have contacted the mortgage company for a repayment plan and they want half of the arrearage up front which isn't possible, I need more options can anyone help.

    : (3)

    • Posted by Donnie H. Best, Sr. on February 28, 2005 at 10:02:49:

      In Reply to: Foreclosure after bankruptcy Colorado Posted by Ann-Marie Stewart on February 15, 2005 at 13:43:55:

      : we are currently not in foreclosure because we have filed chapter 7 bankruptcy, discharge date 3/12/05. I have contacted the mortgage company for a repayment plan and they want half of the arrearage up front which isn't possible, I need more options can anyone help.



      : (0)

    • Posted by Janie on February 20, 2005 at 13:05:27:

      In Reply to: Foreclosure after bankruptcy Colorado Posted by Ann-Marie Stewart on February 15, 2005 at 13:43:55:



      Options:

      Refinance to include the arrearages.

      Keep in mind that if you were in foreclosure before filing bankruptcy, the foreclosure is not over.

      The bankruptcy only tolled it until the discharge. The foreclosure company can then pick up where they left off.

      That means if you are like so many that filed at the 11th hour, you won't have any wiggle room come March 15.

      Start calling lenders, ASAP. Once you have one that is committed to carry your note, they can work a deal with the lender to postpone the foreclosure to allow escrow to close.



      : we are currently not in foreclosure because we have filed chapter 7 bankruptcy, discharge date 3/12/05. I have contacted the mortgage company for a repayment plan and they want half of the arrearage up front which isn't possible, I need more options can anyone help.



      : (0)

  • Posted by Ron on February 14, 2005 at 17:21:11:

    Does anyone know where to find the CT Notice of Default listing and the process to follow to get a hold of it. I have been on line, to the library, courthouse etc.

    : (1)

    • Posted by Jim V on February 15, 2005 at 19:43:15:

      In Reply to: CT Notice of Default listing Posted by Ron on February 14, 2005 at 17:21:11:

      Connecticut Foreclosure Alert.860-345-2100

      I have no idea whether they are still in business, area availability or price, although I think they used to be $72/mo.If you have success tracking them down, please post back here with any new information you may get, someone else might find it useful in the future.

      : (0)

  • Posted by SHERRY on February 14, 2005 at 16:39:14:

    I ATTENDED THE FORECLOSURE MEETING ON THE MANUFACTURED HOME THAT I HAVE BEEN LEASING TO OWN. I PAID THE OWNERES AND THEY DIDN'T PAY SOME OF THE PAYMENTS. THE OWNERS NEVER SHOWED UP AND I HAD ALL OF MY RECEIPTS. THE ATTORNEY FOR THE FINANCE COMPANY TOLD ME I SHOULD BE ABLE TO BUY IT FROM THE BACK AT A MUCH LOWER MONTHLY PAYMENT. SALE IS FEB 25. WHAT AM I SUPPOSE TO DO.

    : (3)

    • Posted by Janie on February 15, 2005 at 11:45:23:

      In Reply to: FORECLOSURE MEETING Posted by SHERRY on February 14, 2005 at 16:39:14:

      Sherry,

      What happened to you is called Fraud. Go directly to your district attorney and file a criminal complaint. Most D.A.'s across the country have real estate fraud divisions.

      If they try to brush you off, persist. Demand to know with whom you file a criminal complaint.

      They will tell you that they can't get your home back for you. Smile and say, yeah that's nice. Then ask if they are going to provide justice?

      If they deny you justice, contact Where's the Justice For All? There are a whole lot of us that have been in your shoes and we help each other and others through a difficult time. A lot of smart people that have been in the trenches of real estate crimes and they can help you.

      Sherry, don't waste any time. Listen, don't kid yourself that the finance attorney and his clients are not scared of you. With a good attorney you can muck up the works.

      The question to ask yourself is, do you want to? How much time and money do you want to spend on your home?

      I wish the best for you. It's hell being cheated out of your home. I know. If you need support, go to the Where's the Justic For All?







      : (0)

    • Posted by Bob on February 15, 2005 at 08:32:50:

      In Reply to: FORECLOSURE MEETING Posted by SHERRY on February 14, 2005 at 16:39:14:

      : I ATTENDED THE FORECLOSURE MEETING ON THE MANUFACTURED HOME THAT I HAVE BEEN LEASING TO OWN. I PAID THE OWNERES AND THEY DIDN'T PAY SOME OF THE PAYMENTS. THE OWNERS NEVER SHOWED UP AND I HAD ALL OF MY RECEIPTS. THE ATTORNEY FOR THE FINANCE COMPANY TOLD ME I SHOULD BE ABLE TO BUY IT FROM THE BACK AT A MUCH LOWER MONTHLY PAYMENT. SALE IS FEB 25. WHAT AM I SUPPOSE TO DO.

      1) Don't write any more checks to the owners. 2)Do your research as to what the Mfg home is worth to prepare for the foreclosure sale. Get a good RE atty and have them assist you. You want to make sure that if your the high bidder what prior liens will have to be paid by you (e.g. taxes).

      : (0)

    • Posted by Bob on February 15, 2005 at 08:29:37:

      In Reply to: FORECLOSURE MEETING Posted by SHERRY on February 14, 2005 at 16:39:14:

      : I ATTENDED THE FORECLOSURE MEETING ON THE MANUFACTURED HOME THAT I HAVE BEEN LEASING TO OWN. I PAID THE OWNERES AND THEY DIDN'T PAY SOME OF THE PAYMENTS. THE OWNERS NEVER SHOWED UP AND I HAD ALL OF MY RECEIPTS. THE ATTORNEY FOR THE FINANCE COMPANY TOLD ME I SHOULD BE ABLE TO BUY IT FROM THE BACK AT A MUCH LOWER MONTHLY PAYMENT. SALE IS FEB 25. WHAT AM I SUPPOSE TO DO.



      : (0)

  • Posted by InfoSeeker on February 13, 2005 at 09:49:17:

    My spouse and I have two mortgaged properties, under different lenders. One house has not been finished as the builder took the money and went under. Due to the fact that my spouse is disabled and can't work and I was out of work for a year, the unfinished property is now under foreclosure. I do not expect the lender to get all of their money back on a sale.

    If a deficiency judgement comes out of this, what can it effect? My spouse has some stock and we have one other property located in another state, it's just land, two acres, no home. Can they force us to sell the land and stock? Can they put a lien against the home we live in? I do not intend to let these people destroy everything I have worked for just because we have been down on our luck. Especially seeing as to how they gave the builder the last large draw without inspecting to see what he had done.

    What can I do to protect my assets? Can we sign them over to my In Laws if need be?

    Thanks for any info.

    : (3)

    • Posted by Bob on February 15, 2005 at 08:28:04:

      In Reply to: Ohio deficiency judgement - what can it effect? Posted by InfoSeeker on February 13, 2005 at 09:49:17:

      : My spouse and I have two mortgaged properties, under different lenders. One house has not been finished as the builder took the money and went under. Due to the fact that my spouse is disabled and can't work and I was out of work for a year, the unfinished property is now under foreclosure. I do not expect the lender to get all of their money back on a sale.

      : If a deficiency judgement comes out of this, what can it effect? My spouse has some stock and we have one other property located in another state, it's just land, two acres, no home. Can they force us to sell the land and stock? Can they put a lien against the home we live in? I do not intend to let these people destroy everything I have worked for just because we have been down on our luck. Especially seeing as to how they gave the builder the last large draw without inspecting to see what he had done.

      : What can I do to protect my assets? Can we sign them over to my In Laws if need be?

      : Thanks for any info.

      First, if you sign over any property to another party within (if memory serves) 3 years it is presumed to have been in complication of bankruptcy. How much do you expect the deficiency to be in $? The bank can get a lien against your out-of-state land, but it's highly unlikely that they would go to the time and expense to do so. If they did they can't force to sell, but you can't see it until you satisify the judgement. They could foreclose upon the lien if there are no liens ahead of them, but again that's highly unlikely to happen. Not sure about OH, but in some/most states a holder of a judgment can attach assets in bank & financial institutions, but I doubt if a bank would do that as they don't want the adverse publicity. Usually it's individuals, lenders of last resort, etc that use this option. The purpose is generally to wake up the debtor and get them to come to some agreement. Find a good bankrutpcy atty and discuss with them. Doesn't sound like you should take bankruptcy, but you need to be informed. If the atty says take BK, I'd get a second and third opinon before doing so.

      : (0)

    • Posted by Don on February 14, 2005 at 07:39:05:

      In Reply to: Ohio deficiency judgement - what can it effect? Posted by InfoSeeker on February 13, 2005 at 09:49:17:

      : My spouse and I have two mortgaged properties, under different lenders. One house has not been finished as the builder took the money and went under. Due to the fact that my spouse is disabled and can't work and I was out of work for a year, the unfinished property is now under foreclosure. I do not expect the lender to get all of their money back on a sale.

      : If a deficiency judgement comes out of this, what can it effect? My spouse has some stock and we have one other property located in another state, it's just land, two acres, no home. Can they force us to sell the land and stock? Can they put a lien against the home we live in? I do not intend to let these people destroy everything I have worked for just because we have been down on our luck. Especially seeing as to how they gave the builder the last large draw without inspecting to see what he had done.

      : What can I do to protect my assets? Can we sign them over to my In Laws if need be?

      : Thanks for any info.

      You could also sue the builder for a couple of million dollars for fraud and make it clear you are going to put him in jail. This way you can tie up his property if he has any and have it sold to pay damages. Check the court records and see if he has anything in his name in the local counties. If he does not have anything you may have to settle for putting him in jail. Seek the advice of a good lawyer.

      : (0)

    • Posted by Bobby on February 13, 2005 at 23:54:43:

      In Reply to: Ohio deficiency judgement - what can it effect? Posted by InfoSeeker on February 13, 2005 at 09:49:17:

      : The problem is that you are going to spend a lot of money defending your position.First off dont ever talk about hiding assets in public! There is a big difference between civil and criminal!All of you holdings are now subject to lien,levy and various legal costs, and as you might have figured out,Disposal!If you can come to terms with the bank and keep the Attorneys out of it, you will be ahead of the game. If not seek legal counsel ASAP. :



      : (0)

  • Posted by marnie on February 12, 2005 at 23:40:07:

    What can I do? My home was foreclosed on without much notice. I was on a repayment plan, sent my payment in late, was never contacted that they would not accept my payment. While out of town working, I received notice the night before the auction. Never received notice to vacate. When I returned to vacate, everything was gone. The realtor told me the mortgage co. told them to "trash everything because I had abandoned the property and moved." Trying to settle but they are not offering anything. What should I do? This occured in Virginia. Thanks.

    : (2)

    • Posted by Don on February 14, 2005 at 08:04:57:

      In Reply to: foreclosure in va. Posted by marnie on February 12, 2005 at 23:40:07:

      : What can I do? My home was foreclosed on without much notice. I was on a repayment plan, sent my payment in late, was never contacted that they would not accept my payment. While out of town working, I received notice the night before the auction. Never received notice to vacate. When I returned to vacate, everything was gone. The realtor told me the mortgage co. told them to "trash everything because I had abandoned the property and moved." Trying to settle but they are not offering anything. What should I do? This occured in Virginia. Thanks.

      Did you still have the electricity and the water turned on? If the utilities were still intact or turned on this is proof that you had not abandoned the property. This is the case in many states. If you can prove this by having lights and water you can sue them for damages of destroying all your property. In fact they went in early according to the way I understand it, before the foreclosure. You may lose the property (home) by being so late but you can put a stinger on them that they will not forget and I bet they will not go into another home with the utilities still hooked up with out a court order. At least you haven't taken bankruptcy and you can easily rebuild your credit. It may take a couple of years but that is not the end of the world. If you have equity and they have sold the property the law in most states require that they pay you all over the amount you owed and the lawyer fees or expenses etc. PS. If they had the utilities cut off see who authorized it and the dates. You can sue the utilities company as well unless you were behind and they had already turned everything off. Man you should have them where you can turn the tables on them in a hurry unless the utilities were behind and the utilities companies turned it off by being in default.This is something only you and the people involved know. Good Luck.



      : (0)

  • Posted by Mary Radlick on February 12, 2005 at 21:39:11:

    I have been trying to be my own attorney in circuit court because attorneys in my area are friends of the attorneys for the lender who is foreclosing. As is, I am finding it difficult to believe anything I am being told,and,I am being told the following. The lender will work out the problems that he created by an illegal foreclosure by advertisement at my eviction hearing and not in circuit court beforhand. I am to wait for my eviction to occur. Is this right. I know that the forelosure was done without reason but I do not feel that I have any power to fight anymore. Does anyone know of a high price lawyer with strength who can fight a big lender. I have the money to pay but do not know who to connect with.

    : (4)

    • Posted by Don on February 12, 2005 at 22:58:19:

      In Reply to: foreclosure vs eviction Posted by Mary Radlick on February 12, 2005 at 21:39:11:

      : I have been trying to be my own attorney in circuit court because attorneys in my area are friends of the attorneys for the lender who is foreclosing. As is, I am finding it difficult to believe anything I am being told,and,I am being told the following. The lender will work out the problems that he created by an illegal foreclosure by advertisement at my eviction hearing and not in circuit court beforhand. I am to wait for my eviction to occur. Is this right. I know that the forelosure was done without reason but I do not feel that I have any power to fight anymore. Does anyone know of a high price lawyer with strength who can fight a big lender. I have the money to pay but do not know who to connect with.

      Why don't you pick up your phone and call HUD. HUD is connected to lenders through HUD loans,Va loans, FmHAlenders and conventional loans. They are a part of the government and if you tell them you cannot afford a lawyer they will help you free of charge. This goes for the agencies also who are under HUD. This is worth a try. In fact many homes have been saved by going through HUD.



      : (0)

    • Posted by Don on February 12, 2005 at 22:56:12:

      In Reply to: foreclosure vs eviction Posted by Mary Radlick on February 12, 2005 at 21:39:11:

      : I have been trying to be my own attorney in circuit court because attorneys in my area are friends of the attorneys for the lender who is foreclosing. As is, I am finding it difficult to believe anything I am being told,and,I am being told the following. The lender will work out the problems that he created by an illegal foreclosure by advertisement at my eviction hearing and not in circuit court beforhand. I am to wait for my eviction to occur. Is this right. I know that the forelosure was done without reason but I do not feel that I have any power to fight anymore. Does anyone know of a high price lawyer with strength who can fight a big lender. I have the money to pay but do not know who to connect with.

      Why don't you pick up yourphone and call HUD. HUD is connected to lenders through HUD loans,Va loans, FmHAlenders and conventional loans. They are a part of the government and if you tell them you cannotafford a lawyer they will help you free of charge. This goes for the agencies also who are under HUD. This is worht a try. In fact many homes have been saved by going through HUD.



      : (2)

      • Posted by tina on February 13, 2005 at 16:37:55:

        In Reply to: Re: foreclosure vs eviction Posted by Don on February 12, 2005 at 22:56:12:

        Do you have to have an FHA/VA/HUD loan for HUD to be able to help you or can anybody get help from them?

        : (1)

        • Posted by Don on February 14, 2005 at 07:26:49:

          In Reply to: does it have to be a HUD loan? Posted by tina on February 13, 2005 at 16:37:55:

          : Do you have to have an FHA/VA/HUD loan for HUD to be able to help you or can anybody get help from them?

          Many banking institutions lend both conventional and HUD and if they are with HUD in other ways they may be able to help you. If you have an income and can bring the account current etc. Why don't you call HUD and see what they can do. They have offices in all major cities in the USA. In your phone book there will be an 800 number (toll free) and they will tell you of the nearest office in your area. In turn when you call your nearest office they will give you the phone numbers of the agencies in your area. Good Luck



          : (0)

  • Posted by Mary Radlick on February 12, 2005 at 21:27:11:

    I have been trying to be my own attorney in circuit court because attorneys in my area are friends of the attorneys for the lender who is foreclosing. As is, I am finding it difficult to believe anything I am being told and I am being told the following. The lender will work out the problems behind an illegal foreclosure by advertisement at the eviction hearing and not in circuit court beforhand. I am to wait for my eviction to occur. Is this right. I know that the forelosure was done without reason but I do not feel that I have any power to fight anymore. Does anyone know of a high price lawyer with strength who can fight a big lender. I have the money to pay but do not know who to connect with.

    : (2)

    • Posted by Donnie H. Best, Sr. on February 28, 2005 at 10:16:54:

      In Reply to: foreclosure eviction Posted by Mary Radlick on February 12, 2005 at 21:27:11:

      : I have been trying to be my own attorney in circuit court because attorneys in my area are friends of the attorneys for the lender who is foreclosing. As is, I am finding it difficult to believe anything I am being told and I am being told the following. The lender will work out the problems behind an illegal foreclosure by advertisement at the eviction hearing and not in circuit court beforhand. I am to wait for my eviction to occur. Is this right. I know that the forelosure was done without reason but I do not feel that I have any power to fight anymore. Does anyone know of a high price lawyer with strength who can fight a big lender. I have the money to pay but do not know who to connect with.



      : (0)

  • Posted by Kitty Martin on February 12, 2005 at 12:08:26:

    I am renting a house in Dearborn Heights, the owner did not mention that he was in foreclosue when We rented the house. We moved in The week before christmas, but we paid him for the full month of December. Plus a deposit. Then we paid January and Febuary rent. He came friday and told us not to pay anymore rent,that the house was in foreclosure. How long do I have before I have to move. I dont want to come home from work one day and find everthing out on the street

    : (2)

    • Posted by drew on February 19, 2005 at 09:41:31:

      In Reply to: Forclosure while Renting Posted by Kitty Martin on February 12, 2005 at 12:08:26:

      First off, foreclosure is not an overnight process. If the owner was collecting rents from you while he was in foreclosure and didnt let you he was in foreclosure, thats an act which you should sue him over. You should get damages and at least a judgement against this person so he doesnt go out and do it again. As for an answer to you question, you shouldnt move until the sherrif comes knocking on your door. If the property is sold at auction, chances are that the investor that buys the home may let you stay and pay rent to them. Even if the bank gets it back, whoever buys it has to formally evict you according to state law and that takes at least 30 days in most jurisdictions.

      : I am renting a house in Dearborn Heights, the owner did not mention that he was in foreclosue when We rented the house. We moved in The week before christmas, but we paid him for the full month of December. Plus a deposit. Then we paid January and Febuary rent. He came friday and told us not to pay anymore rent,that the house was in foreclosure. How long do I have before I have to move. I dont want to come home from work one day and find everthing out on the street



      : (0)

    • Posted by Ray on February 12, 2005 at 15:45:52:

      In Reply to: Forclosure while Renting Posted by Kitty Martin on February 12, 2005 at 12:08:26:

      : I am renting a house in Dearborn Heights, the owner did not mention that he was in foreclosue when We rented the house. We moved in The week before christmas, but we paid him for the full month of December. Plus a deposit. Then we paid January and Febuary rent. He came friday and told us not to pay anymore rent,that the house was in foreclosure. How long do I have before I have to move. I dont want to come home from work one day and find everthing out on the street

      You can take a day off and go to the county courthouse and get a clerk to look it up and it should tell the day the sale is on a designed place. Whoever buys theplace may very well want you to stay there as a renter.



      : (0)

  • Posted by Christy Brown on February 12, 2005 at 10:45:53:

    I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?

    : (5)

    • Posted by drew on February 19, 2005 at 09:35:44:

      In Reply to: During foreclosure can you collect rent from your tenants? Posted by Christy Brown on February 12, 2005 at 10:45:53:

      Sorry for being so sarcastic in saying this, but are you people for real? You idiots are the ones that really make possible clients scared to death. You all have no idea what you are talking about and you spread your stupidity around these boards for others to read. Listen carefully, you taking payments and not making them to the banruptcy court or the lender is called EQUITY SKIMMING. You morons! That is criminal and you can go to jail for it. Take a quick gander under google under "EQUITY SKIMMING" and read about all the fun people going to jail for it. As far as the rest of you $25.00 armchair book pseudo-miionaire all knowing investors, stick to what you are good at, which is waiting tables at Denny's and keep your lack of knowledge to the junk books you are reading to educate yourselves.



      : I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?



      : (0)

    • Posted by Ward-CA- on February 18, 2005 at 09:19:44:

      In Reply to: During foreclosure can you collect rent from your tenants? Posted by Christy Brown on February 12, 2005 at 10:45:53:

      Christy,

      You have the absolute legal right to collect rent from your tenants without anyone's approval until you lose title to your property at the foreclosure auction.

      For a lender to utilize any power under any assignment of rents clause in their mortgage they'd have to give you formal notice of a judicial hearing on the matter beforehand.

      So, until that happens feel free and comfortable in collecting the ongoing rents during the foreclosure process.

      Ward

      ~~~~~~~~~~~~~~~

      : I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?



      : (1)

      • Posted by Keith(CA) on February 18, 2005 at 09:31:34:

        In Reply to: Yes, absolutely... Posted by Ward-CA- on February 18, 2005 at 09:19:44:

        : Christy,

        : You have the absolute legal right to collect rent from your tenants without anyone's approval until you lose title to your property at the foreclosure auction.

        : For a lender to utilize any power under any assignment of rents clause in their mortgage they'd have to give you formal notice of a judicial hearing on the matter beforehand.

        : So, until that happens feel free and comfortable in collecting the ongoing rents during the foreclosure process.

        : Ward

        : ~~~~~~~~~~~~~~~

        : : I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?

        Ward...thanks for setting me straight :)

        : (0)

    • Posted by Keith(CA) on February 12, 2005 at 17:37:31:

      In Reply to: During foreclosure can you collect rent from your tenants? Posted by Christy Brown on February 12, 2005 at 10:45:53:

      : I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?

      Christy,

      You really need to seek the expert advice of a professional in your area. Some security instruments (mortgage/trust deed) contain an assignment of rents clause that allows a lender, once you're in default, to legally demand and collect rent from your tenant...bypassing you entirely. Add to this the fact that you are in bankruptcy, your court appointed trustee may have other things to say about you collecting rent as well. Why not instead get permission from your trustee to sell and then make your tenants an offer?

      : (0)

    • Posted by Ray on February 12, 2005 at 15:42:00:

      In Reply to: During foreclosure can you collect rent from your tenants? Posted by Christy Brown on February 12, 2005 at 10:45:53:

      : I have decided to let my rental property go during my bankruptcy. I am still taking care of my tenants during this process, shoveling snow, paying the water bill, paying to have the parking lot plowed, fixing things if they break, etc... Can I still collect monthly rents from my tenants to help cover these costs until foreclosure proceedings are over?

      Why most certainly you can collect until the court determines that it goes back to the lender or you decide to bring it up to current status.



      : (0)

  • Posted by srb on February 12, 2005 at 08:13:48:

    PLEASE!!!! No e-mail solicitations from foreclosure prevention agents. I just need an answer to the eviction question, if anyone knows it. Thanks.

    : (0)

  • Posted by Sibyl on February 11, 2005 at 19:39:14:

    I live in Alabama. My home is set for foreclosure sale on February 16, 2005. I am in the process of trying to negotiate a work-out plan with my mortgage company (who is being very difficult). If my home is sold on the 16th, how much time after that do I have to move out my things and vacate the premises?

    : (4)

    • Posted by Janie on February 12, 2005 at 20:49:58:

      In Reply to: pending foreclosure and eviction Posted by Sibyl on February 11, 2005 at 19:39:14:

      Sibyl,

      Do you have a plan B in the event Plan A, i.e., "work out plan" does not gell?



      : (0)

    • Posted by Keith(CA) on February 12, 2005 at 17:22:25:

      In Reply to: pending foreclosure and eviction Posted by Sibyl on February 11, 2005 at 19:39:14:

      : I live in Alabama. My home is set for foreclosure sale on February 16, 2005. I am in the process of trying to negotiate a work-out plan with my mortgage company (who is being very difficult). If my home is sold on the 16th, how much time after that do I have to move out my things and vacate the premises?

      Sibyl,

      Good advice from Don. If you hit a brick wall with the county offices already mentioned, try your local county Sheriff's department. Since they are likely responsible for forced evictions, they might be a good source of info.

      : (0)

    • Posted by Don on February 12, 2005 at 15:52:39:

      In Reply to: pending foreclosure and eviction Posted by Sibyl on February 11, 2005 at 19:39:14:

      : I live in Alabama. My home is set for foreclosure sale on February 16, 2005. I am in the process of trying to negotiate a work-out plan with my mortgage company (who is being very difficult). If my home is sold on the 16th, how much time after that do I have to move out my things and vacate the premises?

      Different states have different laws and the one I live in simply give what ever the judge allows that person to get out. You can call the courthouse and they can tell you after the judge rules on your vacating. In ourstate if it does not go to court and the owners tells you to move you have 30 days and I have read where some states allow 60 days. It would best to call the county courthouse and talk to a countycourt clerk.



      : (0)

  • Posted by Jean on February 11, 2005 at 16:47:36:

    I live in Ohio. I am currently in bankruptcy, including my house. I am being forced to vacate my house temporarily while EPA mandated repairs are beingmade. Will my temporary absence from the house affect the foreclosure proceedings, i.e., could the lender prevent my moving back into the house or retrieving any belongings.

    : (3)

    • Posted by Janie on February 12, 2005 at 20:47:24:

      In Reply to: Bankruptcy & Foreclosure Posted by Jean on February 11, 2005 at 16:47:36:

      Your post is disjointed.

      The short answer is no. They can only prevent you after an eviction.



      : I live in Ohio. I am currently in bankruptcy, including my house. I am being forced to vacate my house temporarily while EPA mandated repairs are being: made. Will my temporary absence from the house affect the foreclosure proceedings, i.e., could the lender prevent my moving back into the house or retrieving any belongings.



      : (2)

      • Posted by Steele V. Propp, Bank Owned Real Estate Specialist on February 13, 2005 at 08:48:11:

        In Reply to: Re: Bankruptcy & Foreclosure Posted by Janie on February 12, 2005 at 20:47:24:

        : The short answer is no. They can only prevent you after an eviction.-----------------------------

        The longer answer is usually "no". If an owner leaves the property during the process of foreclosure and the lender can convince a judge that the property was abandoned they are often allowed to change the locks and prevent any "reentry".

        Your case does not sound like this.-----------------------------: : I live in Ohio. I am currently in bankruptcy, including my house. I am being forced to vacate my house temporarily while EPA mandated repairs are being: : made. Will my temporary absence from the house affect the foreclosure proceedings, i.e., could the lender prevent my moving back into the house or retrieving any belongings.



        : (1)

        • Posted by Janie on February 13, 2005 at 16:32:15:

          In Reply to: Re: Bankruptcy & Foreclosure Posted by Steele V. Propp, Bank Owned Real Estate Specialist on February 13, 2005 at 08:48:11:

          Perhaps, but claiming abandonment and proving it are two different things. If the person is leaving because of a mandated cleanup, then the lender would not stand a rats chance in hell.

          Equally, a lender is not likely to spend the funds.



          : The longer answer is usually "no". If an owner leaves the property during the process of foreclosure and the lender can convince a judge that the property was abandoned they are often allowed to change the locks and prevent any "reentry".

          : Your case does not sound like this.



          : -----------------------------: : : I live in Ohio. I am currently in bankruptcy, including my house. I am being forced to vacate my house temporarily while EPA mandated repairs are being: : : made. Will my temporary absence from the house affect the foreclosure proceedings, i.e., could the lender prevent my moving back into the house or retrieving any belongings.



          : (0)

  • Posted by Bob on February 11, 2005 at 14:49:31:

    How's the best way to get a rather significant used motor oil out of a concrete driveway. If I tear out that section of driveway the new concrete will not matched the cured portion. If I tear up the whole driveway, the sidewalks will not match. Is there a product on the market which will take the oil stain out. The stain appears to have been there presumably several years.

    : (0)

  • Posted by Wendy on February 10, 2005 at 17:48:53:

    I just want to say thank you to all of you. This a very helpful website and if I would have known about it in November, I probably could have saved some money.I want to say thank you to the response telling me to call HUD for counseling. My sale date was changed to Feb.23, today I called a counseling center and I have an appt. to go over my situation with them. Thank you again for the help.I hope we can at least get more time to sell the house.

    Wendy

    : (1)

    • Posted by Keith(CA) on February 10, 2005 at 18:09:44:

      In Reply to: Foreclosure in Colorado,Thank you, Thank You!!! Posted by Wendy on February 10, 2005 at 17:48:53:

      : I just want to say thank you to all of you. This a very helpful website and if I would have known about it in November, I probably could have saved some money.: I want to say thank you to the response telling me to call HUD for counseling. My sale date was changed to Feb.23, today I called a counseling center and I have an appt. to go over my situation with them. : Thank you again for the help.: I hope we can at least get more time to sell the house.

      : Wendy

      Wendy,

      It's great when someone takes the time to follow up and provide an update on their situation whether one of us was helpful or not. I'm glad to have helped in some small way...you made my day!

      : (0)

  • Posted by Kia on February 10, 2005 at 15:11:54:

    My husband and I have missed our mortgage payments on our townhome for 3 months. (our renter moved out). We have been trying to sell it. The bank has started sending letters about forclosure. My question is - What can we do to stop the forclosure? My husband is not working right now. We live in our current home and are paying that mortgage on time. We do not want to jeopardize both properties. If we file bankruptcy or forclosure, how will that affect the house we are living in right now? We are willing to lose the townhome, but do not want our house to be jeopardized. We have no experience in this area..Please help!

    : (4)

    • Posted by Alicia on February 11, 2005 at 21:31:30:

      In Reply to: Forclosure looming-Washington State Posted by Kia on February 10, 2005 at 15:11:54:

      Dear Kia,I saw your e-mail asking for help and wanted to reply.I own a real estate investment company called "NW House Buyers" and would be willing to help you. You said you are trying to sell your house, our company specializes in quick close purchases. I would be interested in buying your townhouse. This will end the possibility of forclosure, save your credit and protect the house you are currently living in. Please answer these questions:1. How many sq feet is the townhouse?2. How many bedrooms / bath?3. Do you have a 1st & 2nd mortgage? How much is owned?4. What is the taxed assessed value?

      Write back so I can begin to help!Alicia

      : My husband and I have missed our mortgage payments on our townhome for 3 months. (our renter moved out). We have been trying to sell it. The bank has started sending letters about forclosure. My question is - What can we do to stop the forclosure? My husband is not working right now. We live in our current home and are paying that mortgage on time. We do not want to jeopardize both properties. If we file bankruptcy or forclosure, how will that affect the house we are living in right now? We are willing to lose the townhome, but do not want our house to be jeopardized. We have no experience in this area..Please help!



      : (0)

    • Posted by Bob on February 11, 2005 at 10:44:01:

      In Reply to: Forclosure looming-Washington State Posted by Kia on February 10, 2005 at 15:11:54:

      : My husband and I have missed our mortgage payments on our townhome for 3 months. (our renter moved out). We have been trying to sell it. The bank has started sending letters about forclosure. My question is - What can we do to stop the forclosure? My husband is not working right now. We live in our current home and are paying that mortgage on time. We do not want to jeopardize both properties. If we file bankruptcy or forclosure, how will that affect the house we are living in right now? We are willing to lose the townhome, but do not want our house to be jeopardized. We have no experience in this area..Please help!

      The most critical issue is probably how long can you continue to make payments on your home under your current situation? What is the worse case scenario that you can withstand?

      : (2)

      • Posted by Kia on February 11, 2005 at 10:57:20:

        In Reply to: Re: Forclosure looming-Washington State Posted by Bob on February 11, 2005 at 10:44:01:

        : : My husband and I have missed our mortgage payments on our townhome for 3 months. (our renter moved out). We have been trying to sell it. The bank has started sending letters about forclosure. My question is - What can we do to stop the forclosure? My husband is not working right now. We live in our current home and are paying that mortgage on time. We do not want to jeopardize both properties. If we file bankruptcy or forclosure, how will that affect the house we are living in right now? We are willing to lose the townhome, but do not want our house to be jeopardized. We have no experience in this area..Please help!

        : The most critical issue is probably how long can you continue to make payments on your home under your current situation? What is the worse case scenario that you can withstand?



        We can stand to lose the townhome. We have accepted that. We DO NOT want any decisions we make to affect our current home. We can afford to continue making payments on the home we are living in. All bills fit in our budget EXCEPT the townhome. Our renter was taking care of that, but since we no longer have a renter, that mortgage is not getting paid. The townhome is the only problem in our budget. We accept that there would be a major blot on our credit for 10 years. My husband called an attorney just for advice, and he said to continue trying to sell. I guess in Washington, they threaten foreclosure at 3 months, but won't actually do anything until 190 days. Does that sound right? He said that once we sell it, our first mortgage can get paid in full, but the company in 2nd position may accept a short sale. I understand what that means, but I think they would try to attach to our current home if we do that. Doesn't a short sale hurt your credit also?

        : (1)

        • Posted by Bob on February 11, 2005 at 12:53:43:

          In Reply to: Re: Forclosure looming-Washington State Posted by Kia on February 11, 2005 at 10:57:20:

          : : : My husband and I have missed our mortgage payments on our townhome for 3 months. (our renter moved out). We have been trying to sell it. The bank has started sending letters about forclosure. My question is - What can we do to stop the forclosure? My husband is not working right now. We live in our current home and are paying that mortgage on time. We do not want to jeopardize both properties. If we file bankruptcy or forclosure, how will that affect the house we are living in right now? We are willing to lose the townhome, but do not want our house to be jeopardized. We have no experience in this area..Please help!

          : : The most critical issue is probably how long can you continue to make payments on your home under your current situation? What is the worse case scenario that you can withstand?

          : We can stand to lose the townhome. We have accepted that. We DO NOT want any decisions we make to affect our current home. We can afford to continue making payments on the home we are living in. All bills fit in our budget EXCEPT the townhome. Our renter was taking care of that, but since we no longer have a renter, that mortgage is not getting paid. The townhome is the only problem in our budget. We accept that there would be a major blot on our credit for 10 years. My husband called an attorney just for advice, and he said to continue trying to sell. I guess in Washington, they threaten foreclosure at 3 months, but won't actually do anything until 190 days. Does that sound right? He said that once we sell it, our first mortgage can get paid in full, but the company in 2nd position may accept a short sale. I understand what that means, but I think they would try to attach to our current home if we do that. Doesn't a short sale hurt your credit also?

          I'd also try to rent the townhome, as it have more investor appeal rented. The downside is that somebody who wants to use it as their primary residence may not be as interested. Most properties should rent in 30 days if the property is in good-excellent condition and reasonable rent for the area.

          As a practical matter, the 3 month/190 day foreclosure time frame sounds likely especially if it's a large mortgage servicer and foreclosures are increasing. And the 190 is when they start foreclosure not have the sale.

          Unless the previous tenant trashed the place, there shouldn't be any reason why you can't rent the place soon or even get an acceptable offer (though not necessarily closed) with the 190.

          I'm not sure about short sales affecting your credit, but it surely wouldn't affect it as much as a bankruptcy. I suspect it varies from institution to institution. They may even forget to report it. As far as attaching the deficiency to your home, you'd have to made that (forgoing the deficiency) part of the terms of the lender accepting a short sale. A second mortgage lender usually doesn't have a lot of leverage, hence the higher interest rate to reflect the additional risk.

          You also don't state your husband's age, profession, job prospects, etc. There's about a 99% chance he'll never regain his former salary, benefits, etc. I was downsized five years ago and it took two years and a 2000 mile move to regain about 94% of my downsized salary with lesser benefits. And I am extremely fortunate (underscore extremely). I would assume that you will have to pay your home mortgage out of savings (if that's where the $ are coming) until the day your husband starts a new job, and even then his job might be tenuous with cutbacks, mergers, economy, etc. Cut out every unnecessary and maybe some necessary expense in the budget that you can. Good luck & support your husband. He feels worse than you.



          : (0)

  • Posted by Victoria on February 10, 2005 at 00:24:14:

    I was just served with my foreclosure papers on January 31st. In the papers it says. "You are hereby summoned and required to serve upon the plaintiff's attorney a copy of an answer to the complaint within 28 days of receiving the summons. It also says " Your answer must be filed with this court within 3 days after service of a copy of the answer on the plaintiff's attorney. What is it that I should do now? Also, I live in Lorain county in Ohio and am wondering how long this process should take before I have to move out...

    : (5)

    • Posted by Reinstatement Services, Inc. on February 10, 2005 at 09:56:14:

      In Reply to: Just served with papers. Have question... Ohio Posted by Victoria on February 10, 2005 at 00:24:14:

      such as bankruptcy filing or loss mitigation efforts, the foreclosure process time is typically 5-6 months. According to HUD mandates, if the loan is government sponsored then the process cannot take longer than 10 months to complete.

      You should know that just because the foreclosure process has been initiated it does not preclude you from selling the property or exploring any number of other alternatives that might assist you in retaining the property should this be your desire.

      : I was just served with my foreclosure papers on January 31st. In the papers it says. "You are hereby summoned and required to serve upon the plaintiff's attorney a copy of an answer to the complaint within 28 days of receiving the summons. It also says " Your answer must be filed with this court within 3 days after service of a copy of the answer on the plaintiff's attorney. : What is it that I should do now? Also, I live in Lorain county in Ohio and am wondering how long this process should take before I have to move out...



      : (0)

    • Posted by Janie on February 10, 2005 at 00:56:49:

      In Reply to: Just served with papers. Have question... Ohio Posted by Victoria on February 10, 2005 at 00:24:14:

      You have one of three choices:

      1. Lie down play dead, which means do nothing and let the court date come and go and the Plaintiff will get a judgment by default against you;

      2. Hire an attorney to respond; or

      3. Respond to the summons yourself.



      Basically, what you or your attorney have to do, on a legal pleading sheet, either admit or deny all the allegations and then set forth your defense.

      You've already wasted too much time. Get an attorney ASAP. If you can't afford one, call the local bar association and ask for a list of the pro bono organizations in your area.



      : (1)

      • Posted by Don on February 10, 2005 at 08:02:24:

        In Reply to: Re: Just served with papers. Have question... Ohio Posted by Janie on February 10, 2005 at 00:56:49:

        : You have one of three choices:

        : 1. Lie down play dead, which means do nothing and let the court date come and go and the Plaintiff will get a judgment by default against you;

        : : 2. Hire an attorney to respond; or

        : : 3. Respond to the summons yourself.

        : Basically, what you or your attorney have to do, on a legal pleading sheet, either admit or deny all the allegations and then set forth your defense.

        : : You've already wasted too much time. Get an attorney ASAP. If you can't afford one, call the local bar association and ask for a list of the pro bono organizations in your area.

        What kind of loan do you have? If it is through HUD, VA, FmHA, and sometimes conventional loans Hud can help save a home when no one else can. You need to speak with your HUD (Housing of Urban Development) andtheycan call the lender if that lender does business through them in other business tranactions with other people. HUD will tell you to stay in the home and not move out until evicted.

        1 Hud has a program that will pay up to $2,000.00 to help you move or pay on a 2nd mortgage.

        2 HUD can work out a program where you can stay put and put the house up for sale and all the paperwork be taken care of after the sale even if it is for 6 months. During this time while the home is up for sale you havto pay no payments.

        3 Or HUD may be able to work out an agreement where you can bring up the payments through a loan against the insurance that is carried against the mortgage. This money against the insurance can only be recieved one time. This thpe program is only available to a FHA backed loan if it is still in existence. There have ben some changes lately but it is best you contact HUD and find out your options. Your local HUD is only a phone call away. And if you have no money they are required to do it free. This also goes for the independent counseling agencies as well. Free unless you spout off you can pay some big amount that you really can't.



        : (0)

  • Posted by Linda on February 09, 2005 at 20:24:25:

    Things have changed and I no longer can afford the agreed amount with Countrywide. I was preapproved verally for short sale. not guaranteed until the packet I sent is reviewed. House is in my husbands and his best friends name due to what I call creative mortgaging. We live in Ill. If the short sale is not approved can I immediately try for DIL? Should quit claim deed the friend now? Also I want to move out on Mar 5th to a nice rental home I found. Is this wise. I have to think of my children and keep them in the same schools. I don't want to screw up my children and thier good grades because of me and my troubles. How much would a DIL cost me to file? Quit claim cost? Should I seek a lawyer for DIL?, Short Sale? Foreclosure? All of the above.

    : (6)

    • Posted by Bob on February 10, 2005 at 13:26:07:

      In Reply to: special forebearance, short sale and DIL Posted by Linda on February 09, 2005 at 20:24:25:

      : Things have changed and I no longer can afford the agreed amount with Countrywide. I was preapproved verally for short sale. not guaranteed until the packet I sent is reviewed. House is in my husbands and his best friends name due to what I call creative mortgaging. We live in Ill. If the short sale is not approved can I immediately try for DIL? Should quit claim deed the friend now? Also I want to move out on Mar 5th to a nice rental home I found. Is this wise. I have to think of my children and keep them in the same schools. I don't want to screw up my children and thier good grades because of me and my troubles. How much would a DIL cost me to file? Quit claim cost? Should I seek a lawyer for DIL?, Short Sale? Foreclosure? All of the above.

      This doesn't make any sense at all from your husband's or his friend's aspect. You're going to have to spell out the details assuming there is no hidden agenda they're not telling you about.



      : (0)

    • Posted by NJDave on February 10, 2005 at 08:20:40:

      In Reply to: special forebearance, short sale and DIL Posted by Linda on February 09, 2005 at 20:24:25:

      Is your name on either the deed, or mortgage? How is it that the mortgage lender would speak with you about any, non foreclosure alternative?

      Unlikely any lender will easily accept a DIL, despite what they may say...

      If you have no contractual obligation to the property or the mortgage(s), then there is nothing for you to "quit claim" to anyone.

      So, what is your interest?

      : (2)

      • Posted by Linda on February 10, 2005 at 08:29:49:

        In Reply to: Re: what is your interest? Posted by NJDave on February 10, 2005 at 08:20:40:

        : Is your name on either the deed, or mortgage? How is it that the mortgage lender would speak with you about any, non foreclosure alternative?

        : Unlikely any lender will easily accept a DIL, despite what they may say...

        : If you have no contractual obligation to the property or the mortgage(s), then there is nothing for you to "quit claim" to anyone.

        : So, what is your interest?

        The house is the names of my husband, his friend and myself as the third signer. I signed all documents when we initally refinanced to place us back on the house. The friend is the one who has no interest in the house, does not contribute, does not live in or near us, it is my husband and myself who have agreed to special forebearance agreement and now short sale. It is my understanding that if short sale does not get approved I may try a DIL. Why would they not first agree to short sale, second DIL rather than expensive foreclosure?



        : (1)

        • Posted by njdave on February 10, 2005 at 17:14:25:

          In Reply to: Re: what is your interest? Posted by Linda on February 10, 2005 at 08:29:49:

          If the 'friend' has assets, and/or good credit... they'll go after him, as well... instead of taking a loss.

          Forget about the DIL. In 99.9% of the cases, it simply doesn't happen. Yes, a preforeclosure short would be considered, first.

          But again, if one owner/mortgagor is solvent... they'll go after him.. before easily agreeing to any type of relief.

          : (0)

    • Posted by Ray on February 09, 2005 at 21:12:07:

      In Reply to: special forebearance, short sale and DIL Posted by Linda on February 09, 2005 at 20:24:25:

      : Things have changed and I no longer can afford the agreed amount with Countrywide. I was preapproved verally for short sale. not guaranteed until the packet I sent is reviewed. House is in my husbands and his best friends name due to what I call creative mortgaging. We live in Ill. If the short sale is not approved can I immediately try for DIL? Should quit claim deed the friend now? Also I want to move out on Mar 5th to a nice rental home I found. Is this wise. I have to think of my children and keep them in the same schools. I don't want to screw up my children and thier good grades because of me and my troubles. How much would a DIL cost me to file? Quit claim cost? Should I seek a lawyer for DIL?, Short Sale? Foreclosure? All of the above.

      If you plan to move out anyway youare leaving the house that does not legally belong to you since it is in someone elses name. In fact if your name is not on the deed of trust you are paying off a house that could someday belong to them. I assume it was your ex-husband sort of the way the letter reads. Otherwise why is his and your name as husband and wife not on the papers. If you are divorced and if you paid off the house he could come in and evict you after you paid it off. You don't seem to have a leg to stand onand if you just move out as you intend the lender and the trustee will not come after you but your husband or your ex-husband which ever the case may be and the friend who is on the papers with him. You should contact them and tell them you cannot pay for the house so they can pay it off. If your name is not on it anywhere you cannot sell it in any way or form. Sobe lady enough to tell the people who are on the papersthat you are moving out so they can save their credit and they can and should be paying the note. If you give it back to the ones who are on the papers it will not cost you anything. But it will sure cost them something to clear up the mess. Good Luck.



      : (0)

    • Posted by Ray on February 09, 2005 at 21:12:05:

      In Reply to: special forebearance, short sale and DIL Posted by Linda on February 09, 2005 at 20:24:25:

      : Things have changed and I no longer can afford the agreed amount with Countrywide. I was preapproved verally for short sale. not guaranteed until the packet I sent is reviewed. House is in my husbands and his best friends name due to what I call creative mortgaging. We live in Ill. If the short sale is not approved can I immediately try for DIL? Should quit claim deed the friend now? Also I want to move out on Mar 5th to a nice rental home I found. Is this wise. I have to think of my children and keep them in the same schools. I don't want to screw up my children and thier good grades because of me and my troubles. How much would a DIL cost me to file? Quit claim cost? Should I seek a lawyer for DIL?, Short Sale? Foreclosure? All of the above.

      If you plan to move out anyway youare leaving the house that does not legally belong to you since it is in someone elses name. In fact if your name is not on the deed of trust you are paying off a house that could someday belong to them. I assume it was your ex-husband sort of the way the letter reads. Otherwise why is his and your name as husband and wife not on the papers. If you are divorced and if you paid off the house he could come in and evict you after you paid it off. You don't seem to have a leg to stand onand if you just move out as you intend the lender and the trustee will not come after you but your husband or your ex-husband which ever the case may be and the friend who is on the papers with him. You should contact them and tell them you cannot pay for the house so they can pay it off. If your name is not on it anywhere you cannot sell it in any way or form. Sobe lady enough to tell the people who are on the papersthat you are moving out so they can save their credit and they can and should be paying the note. If you give it back to the ones who are on the papers it will not cost you anything. But it will sure cost them something to clear up the mess. Good Luck.



      : (0)

  • Posted by B wittmer on February 09, 2005 at 14:18:17:

    My documents were returned to me because this trust is out of buisness. they have a good scam going until you need them then they dissapear. Dont send theese monkeys any money or it will dissapear just like the company.I didnt send these jerks any money thank God. Just a warning to you all.stay away from this trust, there just a headach waiting to happen for you. good ridince.!!!!!!!!!!!!!!!!!

    : (2)

    • Posted by Keith(CA) on February 12, 2005 at 19:21:13:

      In Reply to: this trust is out of business dont wast your time in Mn. Posted by B wittmer on February 09, 2005 at 14:18:17:

      In consideration of some of the hate (e)mail and threats I received regarding my stance on Redwood Trust, I must say that I find the following article rather vindicating. Funny how folks swearing up and down that this is a humanitarian organization resort to threats and other such juvenile, not-so-humanitarian nonsense.

      : (0)

    • Posted by Jim V on February 09, 2005 at 15:24:45:

      In Reply to: this trust is out of business dont wast your time in Mn. Posted by B wittmer on February 09, 2005 at 14:18:17:

      : My documents were returned to me because this trust is out of buisness. they have a good scam going until you need them then they dissapear. Dont send theese monkeys any money or it will dissapear just like the company.I didnt send these jerks any money thank God. Just a warning to you all.stay away from this trust, there just a headach waiting to happen for you. good ridince.!!!!!!!!!!!!!!!!!



      : (0)

  • Posted by Monique Melendez on February 09, 2005 at 13:10:35:

    I am doing some research regarding what are the top foreclosure market's According to your records what do you think are the top 4 by county or state.

    : (2)

    • Posted by marnie on February 12, 2005 at 23:32:49:

      In Reply to: top 4 foreclosure markets Posted by Monique Melendez on February 09, 2005 at 13:10:35:

      : I am doing some research regarding what are the top foreclosure market's According to your records what do you think are the top 4 by county or state.

      believe me, Virginia has got to be one. My home was foreclosed on when I was out of town. Then they moved everything out, I am in the process of civil suit.

      : (0)

    • Posted by marnie on February 12, 2005 at 23:31:05:

      In Reply to: top 4 foreclosure markets Posted by Monique Melendez on February 09, 2005 at 13:10:35:

      : I am doing some research regarding what are the top foreclosure market's According to your records what do you think are the top 4 by county or state.



      : (0)

  • Posted by Ms.Worry nomore on February 08, 2005 at 21:10:09:

    I contacted the attorneys office once again this morning and they were able to give me my reinstatement amount. My attorney fees were only $453.61... I will drop by at lunch time tomorrow(since they are close by) to pay my months past due payments + my late fees and of course the attorney fees. A total of $3981.15 to reinstate my loan. I was given till feb 28th to pay. Thanks for everyones support on this board and specially those who answered my questions. You all were tremendous help...thx!

    : (1)

    • Posted by Bill H on February 09, 2005 at 16:41:56:

      In Reply to: My TX attorney fees... Posted by Ms.Worry nomore on February 08, 2005 at 21:10:09:

      nt: I contacted the attorneys office once again this morning and they were able to give me my reinstatement amount. My attorney fees were only $453.61... I will drop by at lunch time tomorrow(since they are close by) to pay my months past due payments + my late fees and of course the attorney fees. A total of $3981.15 to reinstate my loan. I was given till feb 28th to pay. Thanks for everyones support on this board and specially those who answered my questions. You all were tremendous help...thx!



      : (0)

  • Posted by b on February 07, 2005 at 17:23:33:

    I'd like to learn more about the process of buying pre-foreclosures in CA and also how to obtain listings. If anyone is knowledgable in this aspect of real estate, please let me know. Thanks.

    : (5)

    • Posted by rajeev mehra on February 10, 2005 at 21:01:01:

      In Reply to: Pre-foreclosures in CA Posted by b on February 07, 2005 at 17:23:33:

      : I'd like to learn more about the process of buying pre-foreclosures in CA and also how to obtain listings. If anyone is knowledgable in this aspect of real estate, please let me know. Thanks.



      : (0)

    • Posted by b on February 07, 2005 at 17:36:26:

      In Reply to: Pre-foreclosures in CA Posted by b on February 07, 2005 at 17:23:33:

      I am located in Los Angeles county.

      : I'd like to learn more about the process of buying pre-foreclosures in CA and also how to obtain listings. If anyone is knowledgable in this aspect of real estate, please let me know. Thanks.



      : (2)

      • Posted by Kawika_CA on February 07, 2005 at 20:26:34:

        In Reply to: Re: Pre-foreclosures in CA Posted by b on February 07, 2005 at 17:36:26:

        County Records Research serves LA county and breaks it up into 4 chunks. They charge $82/month for each chunk and provide the data in a couple different formats

        As for the proces this is a study in itself. If you want to do it right get Bruce Norris's foreclosure course or spend some time with your local guru. Ward Hanigan is the choice I made here in San Diego. He can train you at his offices down here.

        If you have any specific questions ask away.

        : (1)

        • Posted by Jim V on February 08, 2005 at 00:14:20:

          In Reply to: Re: Pre-foreclosures in CA Posted by Kawika_CA on February 07, 2005 at 20:26:34:

          Kawika,

          I think you provided some decent assets with CRR and all-foreclosure, they both have value.

          I've never actually tried to explore Bruce Norris' materials. Is there something new, different, insightful that can't be gleaned from other sources?Looking for education, as best I can.

          Mahalo Nui,

          Jim: County Records Research serves LA county and breaks it up into 4 chunks. They charge $82/month for each chunk and provide the data in a couple different formats.

          : As for the proces this is a study in itself. If you want to do it right get Bruce Norris's foreclosure course or spend some time with your local guru. Ward Hanigan is the choice I made here in San Diego. He can train you at his offices down here.

          : If you have any specific questions ask away.



          : (0)

    • Posted by Kawika_CA on February 07, 2005 at 17:30:54:

      In Reply to: Pre-foreclosures in CA Posted by b on February 07, 2005 at 17:23:33:

      What county are you in?

      : (0)

  • Posted by Dwight Andersen on February 07, 2005 at 16:40:42:

    In California-the home is occupied by the holder of a life estate lifetime right to occupy who will not make the mortgage payments. The home is owned by the Trust of the deceased owner. If the home goes to foreclosure and is sold by the lender to satisfy the loan (about half the value of the home), will the Trust receive the remaining money from the sale?

    : (1)

    • Posted by Janie on February 07, 2005 at 16:53:12:

      In Reply to: Life Estate Posted by Dwight Andersen on February 07, 2005 at 16:40:42:

      Who is the trustee of this trust and why haven't they stepped in to protect the interests of the trust?

      If its the trustee that is being degligent, then the other memebers need to step in and remove the trustee for malfeasance.

      As for the foreclosure, the answer is NO! The lender will only auction for the amount owed, plus foreclosure costs and whatever late fees and penalties that have occured.





























      : In California-the home is occupied by the holder of a life estate lifetime right to occupy who will not make the mortgage payments. The home is owned by the Trust of the deceased owner. If the home goes to foreclosure and is sold by the lender to satisfy the loan (about half the value of the home), will the Trust receive the remaining money from the sale?



      : (0)

  • Posted by Chanelle Scott on February 07, 2005 at 12:50:25:

    I am looking for a real estate agent in Miami, FL who specializes in foreclosure homes. Can anyone help?

    : (3)

    • Posted by henry on April 30, 2005 at 22:49:32:

      In Reply to: Real Estate Agents in Miami FL for foreclosure homes Posted by Chanelle Scott on February 07, 2005 at 12:50:25:

      : I am looking for a real estate agent in Miami, FL who specializes in foreclosure homes. Can anyone help?



      : (0)

    • Posted by dobre on April 18, 2005 at 10:47:10:

      In Reply to: Real Estate Agents in Miami FL for foreclosure homes Posted by Chanelle Scott on February 07, 2005 at 12:50:25:

      I represent one financial company from USA which can find loan or venture capital for your projects (projects 1 Million USD to 60 Million USD).. No up front fee!This offer is ONLY for real estate construction/development/commercial in USA. The company is in touch with numerous lending sources who make all typesof business, such as: Expansion loans, Equipmentloans, Working Capital Loans, Construction & Development loans, AccountsReceivables loans, Factoring of Accounts Receivables, Start-up financing, etc....Email contact: cvdob@yahoo.comThanks you!

      With considerationDobre Valentin

      : (0)

  • Posted by Penny on February 07, 2005 at 10:55:21:

    We live in NY and were just served foreclosure papers. I was told by someone to get a Notice of Appearance Form so that I am kept in on the process. Does anyone know about that form or have it? Also does anyone know the time frame we may be looking at before this all happens. We have been going through financial troubles for a couple years and have managed to stay afloat until now...we just can't do it anymore. I know there are programs out there, but my husband is looking for a job so our income doesn't prove to be sufficient enough for the debt. Also we are in trying to find a good realtor as we have a small amount of equity that would be a tremendous help if we could sell it for a small profit (I assume we can still sell it at this point???) Please any help would be appreciated. Thank you!

    : (1)

    • Posted by TheShortSalePro on February 07, 2005 at 12:09:51:

      In Reply to: In foreclosure Posted by Penny on February 07, 2005 at 10:55:21:

      Find locally an established broker with a national franchise. Talk directly to the Broker, not a brokers' agent. The broker, was properly advised, can then assign an agent to schedule a listing appointment at your home.

      Be direct. Be honest. Tell him you want the property listed for sale at it's realistic, as-is fair market value and that you'll need to get it under contract within 30-45 days.

      If the Broker rolls his/her eyes and thinks that taking your listing will be problematic... then ask him to recommend another broker....

      If you still can't find a decent broker, then email me. I have a network of brokers that I can call and articulate your needs.. who will then list and sell for you.

      : (0)

  • Posted by RICHARD J YOPP JR on February 07, 2005 at 08:02:40:

    Are all trustee sales the same as foreclosure salesmeaning, if there is an auction for a house @ town hall is that conisdered a trustee sale.

    : (1)

    • Posted by Janie on February 10, 2005 at 01:00:23:

      In Reply to: foreclsure (trustee sale) Posted by RICHARD J YOPP JR on February 07, 2005 at 08:02:40:

      Yes. The Trustee conducts the auction to the sell the home. Before that happens, the homeowner received a Notie of Trustee's Sale, which states the date, time, and location of the auction.

      : Are all trustee sales the same as foreclosure sales: meaning, if there is an auction for a house @ town hall is that conisdered a trustee sale.



      : (0)

  • Posted by Robin on February 07, 2005 at 07:45:08:

    I forgot to add to our situation that we have a VA loan. I was told that this guarantees up to 36K to the mortgage company, sort of a insurance policy. Does that change the situation? It seems that the mortgage company would not want a short sale, because even if they get 50K for the house in forelcosure sales, won't VA give them the rest up to 36K to payoff the loan? If so, then I don't think neither the 1st or 2nd will allow a short sale knowing they have that moeny from VA. I hope I am missing something.

    : (0)

  • Posted by Robin on February 07, 2005 at 07:29:26:

    Currently we owe about 74K on our modular home on the 1st mortgage and owe 26K on the 2nd Mortgage. The home is 13 years old and many things were wrong with it when we purchased it and many things are wrong with it now, even though we have put about 10K into trying to fix it. We have 4 1/2 acres with the home, it has 2300 square feet. Asthetically, it is a nice home, but there are things going wrong with it that will require alot of money. I have been reading posts on here and this is what I have come up with. We are going to put the house on the market this week for what we owe on both mortgages. I am not sure it will appraise at anywhere near that, but we are going to try, because that will help us do a short sale after a month or 2..this way we can show our mortgage companies we did try to sell the house and they should be more likely to accept a short sale. My questions are: 1) If we only get enough on a short sale to cover the 1st mortgage, will the 2nd release the lein, because they have nothing to gain anyway. 2) If we don't get enough to even cover the 1st, will both the 1st and 2nd come after us for the difference (a deficiency judgement is allowed in tn) or more than likely issue a 1099. 3) If we don't sale our property within 3 months, that means to us it will not sale..we will probably have to miss a few mortgage payments to get money to move, knowing the house will go into foreclosure anyway..won't the mortgage companies be more inlcined to do a short sale if we miss payments first? Also, I really believe the house is not worth anything near what we owe, so doesn't a short sale benefit the mortgage companies? If we have to go to foreclosure, which is likely, and they do go after us for the deficiency, can't we file bankruptcy at that time to protect us..will a chapter 13 do that? We make about 50K a year. I was told a chapter 7 is better if you have to do that, because it wipes the slate clean and gives you more diposable income while your credit is being repaired, knowing you cannot get credit for a few years. Thanks for any advice.

    : (1)

    • Posted by Ray on February 08, 2005 at 13:07:46:

      In Reply to: Possible Foreclosure Posted by Robin on February 07, 2005 at 07:29:26:

      : Currently we owe about 74K on our modular home on the 1st mortgage and owe 26K on the 2nd Mortgage. The home is 13 years old and many things were wrong with it when we purchased it and many things are wrong with it now, even though we have put about 10K into trying to fix it. We have 4 1/2 acres with the home, it has 2300 square feet. Asthetically, it is a nice home, but there are things going wrong with it that will require alot of money. I have been reading posts on here and this is what I have come up with. We are going to put the house on the market this week for what we owe on both mortgages. I am not sure it will appraise at anywhere near that, but we are going to try, because that will help us do a short sale after a month or 2..this way we can show our mortgage companies we did try to sell the house and they should be more likely to accept a short sale. My questions are: 1) If we only get enough on a short sale to cover the 1st mortgage, will the 2nd release the lein, because they have nothing to gain anyway. 2) If we don't get enough to even cover the 1st, will both the 1st and 2nd come after us for the difference (a deficiency judgement is allowed in tn) or more than likely issue a 1099. 3) If we don't sale our property within 3 months, that means to us it will not sale..we will probably have to miss a few mortgage payments to get money to move, knowing the house will go into foreclosure anyway..won't the mortgage companies be more inlcined to do a short sale if we miss payments first? Also, I really believe the house is not worth anything near what we owe, so doesn't a short sale benefit the mortgage companies? If we have to go to foreclosure, which is likely, and they do go after us for the deficiency, can't we file bankruptcy at that time to protect us..will a chapter 13 do that? We make about 50K a year. I was told a chapter 7 is better if you have to do that, because it wipes the slate clean and gives you more diposable income while your credit is being repaired, knowing you cannot get credit for a few years. Thanks for any advice.

      HUD have many programs to help keep a home but you apparently do not want the home any longer. HUD always advises a person not to move out so they can utilize all options. One option is that if you continue to live there and not pay any payments, HUD has a program that will pay up to $2,000.00 in moving expenses for people if they qualify. Why not get the money and also save the payments at the same time and have some money if it is going down the drain anyway. Forget about the Bankrupt as if it is a Ch23 you will have to payments through the court anyway. If it is a Chapter 7 they will take everything except some exempt items and strip you of most everything even the money in your billfold. Worse yet with a bankrupt is that it is 10 years before it is supposed to drop from your credit record and that is not the case because they seem to want to punish a person who had the gall to take bankruptcy and they tell you it is their practice to leave it on the record. Then if you want to go into court to get it removed it requires some things that most people want to do. You must write some letters and have them certified so they have to sign to get them and threaten them and after about the third letter sue them for not removing it. This is supposed to be a law but I don't know where to find it.It is not hard to rebuild credit but it is harder to rebuild a bankruptcy.



      : (0)

  • Posted by jeff on February 07, 2005 at 07:13:42:

    Please read the post titled jenie written on Feb 3..that was meant for your initial response to my post. Thanks

    : (1)

    • Posted by Janie on February 07, 2005 at 16:48:06:

      In Reply to: Janie Posted by jeff on February 07, 2005 at 07:13:42:

      Hello Jeff,

      You got a mess. Sorry to hear it. I know it must be frustrating.

      First, what you describe is what is known as being bottomed up with your mortgage.

      Have you consulted with an attorney about what your options for recourse against whomever sold the home to you? Did you have the windows installed? There is another cause of action.

      You really showed review those options before discharging a debt in bankruptcy court.

      It appears the BK attorney that advised may have been mistaken. If you are bottomed up, then there is no equity. Assuming you have no other equity you can liquidate, there is little to hang your hat on.

      The BK courts typically look at your income to debt ratio and then factor in your net worth. In your case, if there are no tangible assets, then you are basically down to the debt to income ratio.

      You could throw yourself on the mercy of the court, and it's done quite often, that you have a money pit that is eating away at your estate and will only continue to do so.

      If it were me, I would a certified estimate from at least two contractors detailing the damage and outlining the costs to repair and or replace everything.

      I wouldn't tell the contractors that its for BK. I'd ask for bids as if I was actually going to remodel.

      If you are serious about BK, let me know I will give some guidlines and things to talk to an attorney about.



      : (0)

  • Posted by Ryan on February 06, 2005 at 19:26:26:

    Hello,

    I currently have a property that is in foreclosure, and the sheriff sale date is Feb 25th. I ended up getting 6 figures stolen from my business partner and I last spring, and had to cancel the project. I was without work from about May till December. The original loan amount was $933,000, my credit score used to be 690. I've been self employed for 4 years. Since everything happened, my score has dropped to 494, and I have no substantial income records, but things are starting to build back up and should be good in 1-2months.

    I am behind on my payments for the house, and am behind on my property tax by about $31k. If there is anyone out there who could help me please drop me an email. I really wish to save my home. I had signed up for Red wood Trust in October, but it seems as though that is a lost cause.

    Thank you in advance. I only have about 14 days.

    RJ

    : (5)

    • Posted by Reinstatement Services, Inc. on February 07, 2005 at 10:29:31:

      In Reply to: Foreclosure Sale Feb 25th, need help!! Posted by Ryan on February 06, 2005 at 19:26:26:

      is the best possible scenario and should be thoroughly explored prior to considering any other measures of relief .

      You'll want to get a forbearance agreement in place relatively quickly given the time constraints. Bankruptcy should be considered only if all else fails. a last

      : (1)

      • Posted by ANDRIA FRETT on February 15, 2005 at 14:51:00:

        In Reply to: A workout from your lender... Posted by Reinstatement Services, Inc. on February 07, 2005 at 10:29:31:

        : is the best possible scenario and should be thoroughly explored prior to considering any other measures of relief .

        : You'll want to get a forbearance agreement in place relatively quickly given the time constraints. Bankruptcy should be considered only if all else fails. a last



        : (0)

    • Posted by Janie on February 06, 2005 at 22:32:47:

      In Reply to: Foreclosure Sale Feb 25th, need help!! Posted by Ryan on February 06, 2005 at 19:26:26:

      RJ,

      Welcome to the worst club in the world - victims of white-collar crimes. I know your fear and frustration.

      Have you tried talking to hard lenders? Countrywide, Ameriquest, Beneficial, etc. The costs will be high and terms unbearable, but think of it as a short-term situation toward a long-term goal.

      Don't worry about the time line. If you can get a lender ASAP, your current lender will more than likely postpone the foreclosure pending escrow. They will only do if you have a viable lender who is seriously going to refinance.

      Worst case scenario, you can file a Chapter 13 or Chapter 11, whichever fits your situation. That will stay the foreclosure while you workout a plan. It's a 3 to 5 year pay back plan. You put all of your arrearages in the plan and make monthly payments, while making all your other payments. Up shot is no high interest rates. Your current lender is forced to work with you and accept your payments.

      The way it works is that all the past due goes on the BK plan and your lender has to wipe the slate clean, sort of, and allow you to begin making payments as though everything is ok. Meanwhile, you're also paying the BK trustee, who pays the lender for the past due amount.







      : Hello,

      : I currently have a property that is in foreclosure, and the sheriff sale : date is Feb 25th. I ended up getting 6 figures stolen from my business : partner and I last spring, and had to cancel the project. I was without : work from about May till December. The original loan amount was : $933,000, my credit score used to be 690. I've been self employed for : 4 years. Since everything happened, my score has dropped to 494, : and I have no substantial income records, but things are starting to : build back up and should be good in 1-2months.

      : I am behind on my payments for the house, and am behind on my : property tax by about $31k. If there is anyone out there who could : help me please drop me an email. I really wish to save my home. I had : signed up for Red wood Trust in October, but it seems as though that : is : a lost cause.

      : Thank you in advance. I only have about 14 days.

      : RJ



      : (1)

      • Posted by Debbie on February 14, 2005 at 15:44:29:

        In Reply to: Re: Foreclosure Sale Feb 25th, need help!! Posted by Janie on February 06, 2005 at 22:32:47:

        I've been told about a Partial Claim or Deed in Lieu/Loss Mitigation, etc. Is this not an option?

        : (0)

  • Posted by Mark W on February 06, 2005 at 16:54:16:

    My House is in foreclosure. I have 5 weeks to bring the loan current or sell the house. I owe 21K to bring current. My payoff(principal) is 141K. I can sell for 179K. Is the 21K in back payments going to be added to the payoff of 141K?

    : (4)

    • Posted by Steele V. Propp on February 07, 2005 at 23:16:57:

      In Reply to: Foreclosure Payoff Questions Posted by Mark W on February 06, 2005 at 16:54:16:

      : My House is in foreclosure. I have 5 weeks to bring the loan current or sell the house. I owe 21K to bring current. My payoff(principal) is 141K. I can sell for 179K. Is the 21K in back payments going to be added to the payoff of 141K?-------------------------

      Plus any late fees and legal fees. However, the lender will be able to give you an exact figure.

      Steele in Minnesota



      : (2)

      • Posted by Kristina on April 30, 2005 at 13:44:49:

        In Reply to: Re: Foreclosure Payoff Questions Posted by Steele V. Propp on February 07, 2005 at 23:16:57:

        Call me and we'll sort the mess and refinance your home1-877-511-8811



        : : My House is in foreclosure. I have 5 weeks to bring the loan current or sell the house. I owe 21K to bring current. My payoff(principal) is 141K. I can sell for 179K. Is the 21K in back payments going to be added to the payoff of 141K?: -------------------------

        : Plus any late fees and legal fees. However, the lender will be able to give you an exact figure.

        : Steele in Minnesota



        : (0)

      • Posted by Kristina on April 30, 2005 at 13:44:01:

        In Reply to: Re: Foreclosure Payoff Questions Posted by Steele V. Propp on February 07, 2005 at 23:16:57:

        : : My House is in foreclosure. I have 5 weeks to bring the loan current or sell the house. I owe 21K to bring current. My payoff(principal) is 141K. I can sell for 179K. Is the 21K in back payments going to be added to the payoff of 141K?: -------------------------

        : Plus any late fees and legal fees. However, the lender will be able to give you an exact figure.

        : Steele in Minnesota



        : (0)

  • Posted by Kwai Lin on February 06, 2005 at 11:21:56:

    Does a foreclosure action takes presidence over a landlord tenant statues? i.e., House was being foreclosed and the owner abandoned his personal property. Now he claims that he should have been given notice, like a tenant to store his goods.

    : (7)

    • Posted by Nick(Colorado) on February 07, 2005 at 10:29:11:

      In Reply to: Foreclosure vs. Landlord Tenant Statues Posted by Kwai Lin on February 06, 2005 at 11:21:56:

      Kwai Lin:

      Normally post-foreclosure hold-over property is handled like an eviction. I was unable to find the Hawaiian statues that governs this. So you will have to look them up yourself. Most likely, Hawaii has a storage requirement for items of value over a certain dollar value.

      : (0)

    • Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:43:53:

      In Reply to: Foreclosure vs. Landlord Tenant Statues Posted by Kwai Lin on February 06, 2005 at 11:21:56:

      really doesn't make much sense. But...if you've stolen the man's personal property...give it back.



      : (5)

      • Posted by Kwai Lin on February 07, 2005 at 10:20:22:

        In Reply to: Your question as it stands... Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:43:53:

        : really doesn't make much sense. But...if you've stolen the man's personal property...give it back.



        : (4)

        • Posted by Kwai Lin on February 07, 2005 at 10:24:24:

          In Reply to: Re: Your question as it stands... Posted by Kwai Lin on February 07, 2005 at 10:20:22:

          The personal items were disposed. Air Conditioners were removed, only a few items left. Electricity wasturned off...unable to contact former owner.



          : (2)

          • Posted by Reinstatement Services, Inc. on February 07, 2005 at 10:38:59:

            In Reply to: Re: Your question as it stands... Posted by Kwai Lin on February 07, 2005 at 10:24:24:

            have mandates in place relating to the handling of unclaimed personal property that has been left behind upon the completion of a foreclosure action. Most require storage of such itmes for a certain period of time.

            It would be prudent to check your state statutes for laws governing foreclosure property and disposal of personal effects that might be held over.



            : (1)

            • Posted by Jim V on February 07, 2005 at 10:51:50:

              In Reply to: Most states... Posted by Reinstatement Services, Inc. on February 07, 2005 at 10:38:59:

              Hawaii's landloard tenant laws require minimal noticing and storage. It's something like mailing notice to the tenant's forwarding address, 3 days newspaper publication, then wait three weeks. The landlord can then dispose of, give to charity, or keep the proceeds.I have not found anything in the foreclosure statutes to contradict or require any other procedure, but it might be there.

              : have mandates in place relating to the handling of unclaimed personal property that has been left behind upon the completion of a foreclosure action. Most require storage of such itmes for a certain period of time.

              : It would be prudent to check your state statutes for laws governing foreclosure property and disposal of personal effects that might be held over.



              : (0)

  • Posted by tj on February 05, 2005 at 15:58:43:

    I did a Google search but can't find anyone who will lend a small amount of money (5-10K).

    thanks for any help

    : (1)

    • Posted by John Eakins on February 11, 2005 at 23:12:51:

      In Reply to: How to find hard money lender for 2nd? Posted by tj on February 05, 2005 at 15:58:43:

      : I did a Google search but can't find anyone who will lend a small amount of money (5-10K).

      : thanks for any help

      If you are in CA I can do this



      : (0)

  • Posted by Keith Cassinger on February 05, 2005 at 15:11:19:

    Hoping someone can help me here, I am not a lawyer.

    I live in South Carolina and am attempting (key word) to buy a home. We have found a home (from the MLS listings) and looked it over with our agent and loved it, it had everything we wanted including the neighborhood. We bid $500 over asking price (which is pretty much what other homes in the area of this type are worth). The owner (Power of attorney) accepted our bid.

    Then we find he has to send it to the bank for approval. ??

    We find out that his son is active military and he is now acting as POA for his son. This next part I am unclear on since I am getting info from a bunch of realtors which seem to have no clue:

    They tell me the house is being foreclosed on, and that it is illegal to foreclose on active military. That sounds fine with me, but now...

    All I know now is that we have been waiting for 30 days now for an answer from this lender. They claim they only got the papers on the 20th of January and today is the 29th (The listing agent sent them our bid and ratified contract). I am getting tired of this but we we didn't want to walk away without understanding this. The listing agent is now acting as POA which the father gave him.

    Why is the lender taking so long? Shouldn't this be simple? (Uhh, they owe us this much...they are offering this much...accepted!) Or am I simplifying this way too much? Is this "normal?"

    Now we are staring at another long wait perhaps! I would wait if someone can tell me why I should and if this is normal or is someone playing with us and why? We have the money, the house is just sitting there...what's up?

    Keith



    : (3)

    • Posted by Janie on February 06, 2005 at 23:34:38:

      In Reply to: Buying a foreclosed home...I think? Help! Posted by Keith Cassinger on February 05, 2005 at 15:11:19:

      You've got some conflicting items that appear to be red flags.

      It is true that a lender cannot foreclosure on an active duty military. But you say the house is in foreclosure.

      I'm fairly sure that an agent cannot transfer or give away to a third party. Only the principal can designate whom will act on their behalf as an agent.

      If you want a clue as to why the lender is being cautious, one reason could be that real estate crimes are the leading crimes in this country.

      Of even more alarm, is that the weapon of choice is a power of attorney and used against a family member.

      Family on family crimes are the most common of crimes in this country. Never mind the stranger, its the person you love and trust that can and will do the most harm.

      60 Minutes did a segment on it called All in the Family. Where's the Justice For All? web site has the transcript.



      : (1)

      • Posted by Keith Cassinger on February 08, 2005 at 05:32:18:

        In Reply to: Re: Buying a foreclosed home...I think? Help! Posted by Janie on February 06, 2005 at 23:34:38:

        Thanks Janie, I think it's just "me" using words like they are "in" foreclosure. I know so little about what's happening. Yesterday we got word that the bank called (the other Realtor) to ask the owner for more info and once they get it the file will be sent to the senior something or other. I am taking this as progress. But I am not certain what kind of progress.

        : (0)

    • Posted by Ray on February 05, 2005 at 22:51:51:

      In Reply to: Buying a foreclosed home...I think? Help! Posted by Keith Cassinger on February 05, 2005 at 15:11:19:

      : Hoping someone can help me here, I am not a lawyer.

      : I live in South Carolina and am attempting (key word) to buy a home. We have found a home (from the MLS listings) and looked it over with our agent and loved it, it had everything we wanted including the neighborhood. We bid $500 over asking price (which is pretty much what other homes in the area of this type are worth). The owner (Power of attorney) accepted our bid.

      : Then we find he has to send it to the bank for approval. ??

      : We find out that his son is active military and he is now acting as POA for his son. This next part I am unclear on since I am getting info from a bunch of realtors which seem to have no clue:

      : They tell me the house is being foreclosed on, and that it is illegal to foreclose on active military. That sounds fine with me, but now...

      : : All I know now is that we have been waiting for 30 days now for an answer from this lender. They claim they only got the papers on the 20th of January and today is the 29th (The listing agent sent them our bid and ratified contract). I am getting tired of this but we we didn't want to walk away without understanding this. The listing agent is now acting as POA which the father gave him.

      : Why is the lender taking so long? Shouldn't this be simple? (Uhh, they owe us this much...they are offering this much...accepted!) Or am I simplifying this way too much? Is this "normal?"

      : Now we are staring at another long wait perhaps! I would wait if someone can tell me why I should and if this is normal or is someone playing with us and why? We have the money, the house is just sitting there...what's up?

      : Keith

      It is illegal to sell a person's home while they are in the active military. Maybe you should get the son's address and write him to see if the father has power of attorney. Maybe the bank is cautous since the son is not there and want to know if the father really has power of attorney. Even if everything is on the up and up it takes time to get all the info togather and run credit checks etc. and go before the boards to approve the loans.



      : (0)

  • Posted by Sherry Marsh on February 05, 2005 at 15:03:46:

    The property I have leased to own for two years has a foreclosure sale date soon. I was advised that I have proof that I made all of my payments that I should be able to buy it from the bank. They said I would have first choice. Is this true and how do I do this?

    : (4)

    • Posted by drew on February 19, 2005 at 10:06:06:

      In Reply to: lease to own - I pd payment to owner and owner didn't pay Posted by Sherry Marsh on February 05, 2005 at 15:03:46:

      Your selling point is that if you can prove that you made payments on time for 2 years, you should be able to get a home loan pretty easy since some lenders treat this as a refinance instead of a purchase. You should contact a mortgage specialist immediately to see if you can qualify to buy the home..--provided the seller will sell. If he doesnt, you need to hire a good lawyer since the owner was equity skimming in which he can go to jail for and you can definately make a stand forcing him to either sell you the property in which you agree not to sue him. Another key here is determine if your state law allows for an ownership interest in the property due to the fact that this was a lease to own and you may have accumulated enough equity to hold an equity position in the title, in which case if you do you may have a positive note to work with the foreclosing bank.

      : The property I have leased to own for two years has a foreclosure sale date soon. I was advised that I have proof that I made all of my payments that I should be able to buy it from the bank. They said I would have first choice. Is this true and how do I do this?



      : (0)

    • Posted by Kansas4me on February 16, 2005 at 15:46:12:

      In Reply to: lease to own - I pd payment to owner and owner didn't pay Posted by Sherry Marsh on February 05, 2005 at 15:03:46:

      : The property I have leased to own for two years has a foreclosure sale date soon. I was advised that I have proof that I made all of my payments that I should be able to buy it from the bank. They said I would have first choice. Is this true and how do I do this?

      We are attempting to buy a property right now that was sent to foreclosure. The house is empty and was owned by a development company. We were buying it from the person who represented himself as the owner, but in reality he wasn't. The bank has been great in helping us through this. You will find that 99% of the time the banks don't want the house in anyway, for any amount of time. They want them gone. So go talk to the bank, you might call first as this may be handled out of a specific branch, and odds are they can work something otu with you!



      : (0)

    • Posted by Ray on February 05, 2005 at 22:43:31:

      In Reply to: lease to own - I pd payment to owner and owner didn't pay Posted by Sherry Marsh on February 05, 2005 at 15:03:46:

      : The property I have leased to own for two years has a foreclosure sale date soon. I was advised that I have proof that I made all of my payments that I should be able to buy it from the bank. They said I would have first choice. Is this true and how do I do this?

      Simply go to the bank and find out who is in charge of the account and talke to them. It could be the mitigation department.



      : (0)

    • Posted by Ray on February 05, 2005 at 22:42:19:

      In Reply to: lease to own - I pd payment to owner and owner didn't pay Posted by Sherry Marsh on February 05, 2005 at 15:03:46:

      : The property I have leased to own for two years has a foreclosure sale date soon. I was advised that I have proof that I made all of my payments that I should be able to buy it from the bank. They said I would have first choice. Is this true and how do I do this? Simply go to the bank and find out who is in charge of the account and talke to them. It could be the mitigation department.



      : (0)

  • Posted by Ed on February 05, 2005 at 12:11:54:

    my house was foreclosed early last year and sold late last year for 85K about 20 less that what my note was worth. Will there be a judgment against me for the difference

    : (4)

    • Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:41:08:

      In Reply to: foreclosure Posted by Ed on February 05, 2005 at 12:11:54:

      The state the property is located in will determine the statutes regulating the foreclosure process and whether a deficiency judgment is possible.

      Ultimately, however, for states allowing a deficiency judgment, only the lender will be able to answer your question with any real authority as to whether a DJ will be pursued.



      : (3)

      • Posted by Ed on February 06, 2005 at 22:14:28:

        In Reply to: Perhaps Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:41:08:

        : The state the property is located in will determine the statutes regulating the foreclosure process and whether a deficiency judgment is possible.

        : Ultimately, however, for states allowing a deficiency judgment, only the lender will be able to answer your question with any real authority as to whether a DJ will be pursued.

        Is Texas one of the states that allow deficiency judgments.

        : (1)

        • Posted by Reinstatement Services, Inc. on February 07, 2005 at 10:40:17:

          In Reply to: Re: Perhaps Posted by Ed on February 06, 2005 at 22:14:28:

          : : The state the property is located in will determine the statutes regulating the foreclosure process and whether a deficiency judgment is possible.

          : : Ultimately, however, for states allowing a deficiency judgment, only the lender will be able to answer your question with any real authority as to whether a DJ will be pursued.

          : : Is Texas one of the states that allow deficiency judgments.



          : (0)

      • Posted by Ed on February 06, 2005 at 22:13:33:

        In Reply to: Perhaps Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:41:08:

        : The state the property is located in will determine the statutes regulating the foreclosure process and whether a deficiency judgment is possible.

        : Ultimately, however, for states allowing a deficiency judgment, only the lender will be able to answer your question with any real authority as to whether a DJ will be pursued.



        : (0)

  • Posted by Ray P on February 05, 2005 at 10:38:39:

    I have been renovating and renting properties for the past 20 years and am now interested in getting started in foreclosures in new jersey. Any good books to read,should I concentrate on pre-foreclosure, bank owned?

    : (1)

    • Posted by Lou Finberg on February 07, 2005 at 13:20:54:

      In Reply to: getting started Posted by Ray P on February 05, 2005 at 10:38:39:

      Ray... I too am getting started in the aquisition & rehab of distressed real estate. I own a General Contracting company since 1992 & live near Trenton, NJ... if you are interested please email me your contact information... maybe we can learn & profit from eachother

      : (0)

  • Posted by Barb on February 05, 2005 at 09:51:02:

    Our house was foreclosed on and the bank bought it back at the auction. We have a 6 month redemption period. But what happens when that ends if we are still in the house? Does the sheriff give you another 30-60 days?

    : (2)

    • Posted by barb on February 07, 2005 at 21:31:38:

      In Reply to: Foreclosure MN Eviction ? Posted by Barb on February 05, 2005 at 09:51:02:

      Does anyone know if they give you 30 or 60 days on a foreclosure eviction? Just trying to make it until school is out if we can.

      : (0)

    • Posted by Joe Ulferts on February 07, 2005 at 15:40:57:

      In Reply to: Foreclosure MN Eviction ? Posted by Barb on February 05, 2005 at 09:51:02:

      They have to go through an eviction process and have you legally removed. They may also offer Keys for cash whereby they will offer you money to voluntarily give them the keys and move out.

      Did you have other liens beside theirs? Email me the lien amount they foreclosed and other details. Email me at: jwulferts@yahoo.com

      : Our house was foreclosed on and the bank bought it back at the auction. We have a 6 month redemption period. But what happens when that ends if we are still in the house? Does the sheriff give you another 30-60 days?



      : (0)

  • Posted by Sandra on February 04, 2005 at 17:37:59:

    I am in CA and have fallen behind on 4 mortgage payments due to a temporary disability. The bank said that they would work with me on this, but instead has sent my loan to an attorney to begin foreclosure proceedings. I have requested a withdraw from my 401K and should be reciving a check any day now. I will have the money to pay the past ammount due plus whatever attorney fees are added (I contacted the attorney and was told it would be 3-5 business days before they would get back to me). Will I be allowed to pay the amount and reinstate my loan or am I basically facing foreclosure? Thanks in advance for your help!

    : (6)

    • Posted by Reinstatement Services, Inc. on February 06, 2005 at 13:36:44:

      In Reply to: Allowed to reinstate loan? Posted by Sandra on February 04, 2005 at 17:37:59:

      While the experience is definitely unsettling, there is no need for panic. Since you plan on reinstating the loan you might contact the attorney hired to process the foreclosure action action in writing. Request a written reinstatement figure. Make sure the figure is good through the end of the month.Once the reinstatement figure is received follow the instructions in the communication to the letter and you will be fine...end of story.

      Really, there is no need for all of the fuss. Just make certain that you ge the figure and get the account brought current.

      If you are unable to bring the account current then you might want to consider other available workout remedies that will allow you to either establish a repayment schedule with your lender or qualify for a loan modification.

      Since TX foreclosure process is relatively quick, you will want to obtain the reinstatement figure quickly. Most attorney offices require 7-10 days for processing a reinstatement figure request for homeowners.

      : (0)

    • Posted by Jim V on February 04, 2005 at 18:05:03:

      In Reply to: Allowed to reinstate loan? Posted by Sandra on February 04, 2005 at 17:37:59:

      Sandra,

      Borrowers in CA can reinstate a loan up to 5 business days before the sale. The earliest a sale could possibly take place is almost 4 months from now.

      : I am in CA and have fallen behind on 4 mortgage payments due to a temporary disability. The bank said that they would work with me on this, but instead has sent my loan to an attorney to begin foreclosure proceedings. I have requested a withdraw from my 401K and should be reciving a check any day now. I will have the money to pay the past ammount due plus whatever attorney fees are added (I contacted the attorney and was told it would be 3-5 business days before they would get back to me). Will I be allowed to pay the amount and reinstate my loan or am I basically facing foreclosure? Thanks in advance for your help!



      : (4)

      • Posted by Sandra on February 04, 2005 at 19:44:27:

        In Reply to: Re: Yes Posted by Jim V on February 04, 2005 at 18:05:03:

        Thank you for your response! I am very confused by a statement in the letter...it says "You are hereby notified that, due to the default under the terms of the mortgage or deed of trust, the entire balance is due and payable." Is this is entire amount past due or the entire amount of the loan? Thank you again! Like I said, I contacted the attorney but was told I need to wait 3-5 business days for a response and I am going crazy worrying myself to death!

        : Sandra,

        : Borrowers in CA can reinstate a loan up to 5 business days before the sale. The earliest a sale could possibly take place is almost 4 months from now.



        : (3)

        • Posted by Jim V on February 04, 2005 at 20:17:06:

          In Reply to: Re: Yes Posted by Sandra on February 04, 2005 at 19:44:27:

          Sandra,

          When a lender forecloses, they foreclose on the total amount due, so if they are preparing to proceed with foreclosure, that's the number you will see. The first real step in a CA foreclosure is the Notice of Default. On that notice, there is always a default amount(past due payments and fees) that needs to be paid to bring the loan current. The Notice of Default period lasts for three months. It's way too early in the process to panic about it. You have a plan, I'm sure you'll be fine.

          : Thank you for your response! I am very confused by a statement in the letter...it says "You are hereby notified that, due to the default under the terms of the mortgage or deed of trust, the entire balance is due and payable." Is this is entire amount past due or the entire amount of the loan? Thank you again! Like I said, I contacted the attorney but was told I need to wait 3-5 business days for a response and I am going crazy worrying myself to death!

          : : : Sandra,

          : : Borrowers in CA can reinstate a loan up to 5 business days before the sale. The earliest a sale could possibly take place is almost 4 months from now.



          : (2)

          • Posted by Ms.Worry on February 04, 2005 at 20:31:52:

            In Reply to: Re: Yes Posted by Jim V on February 04, 2005 at 20:17:06:

            Whats the procedure for the state of Tx?Thanks for your help! hope you recvd my email as well Jim..







            : Sandra,

            : When a lender forecloses, they foreclose on the total amount due, so if they are preparing to proceed with foreclosure, that's the number you will see. The first real step in a CA foreclosure is the Notice of Default. On that notice, there is always a default amount(past due payments and fees) that needs to be paid to bring the loan current. The Notice of Default period lasts for three months. It's way too early in the process to panic about it. You have a plan, I'm sure you'll be fine.

            : : Thank you for your response! I am very confused by a statement in the letter...it says "You are hereby notified that, due to the default under the terms of the mortgage or deed of trust, the entire balance is due and payable." Is this is entire amount past due or the entire amount of the loan? Thank you again! Like I said, I contacted the attorney but was told I need to wait 3-5 business days for a response and I am going crazy worrying myself to death!

            : : : : : Sandra,

            : : : Borrowers in CA can reinstate a loan up to 5 business days before the sale. The earliest a sale could possibly take place is almost 4 months from now.



            : (1)

            • Posted by Jim V on February 04, 2005 at 22:44:07:

              In Reply to: Re: Yes..what about for Tx Jim? Posted by Ms.Worry on February 04, 2005 at 20:31:52:

              Ms. Worry,

              Texas and California use generally the same procedure for foreclosure, Texas just has a much quicker timeframe.

              Bill H, who knows a heck of a lot more than I do about Texas, provided a synopsis of the Texas procedure for you. As Bill said, there will be a time for curing the default, then things accelerate fairly quickly.

              If that doesn't answer your question, you'll have to re-phrase and re-post. Hopefully, it comes close.

              : : Whats the procedure for the state of Tx?: Thanks for your help! hope you recvd my email as well Jim..



              : : : Sandra,

              : : When a lender forecloses, they foreclose on the total amount due, so if they are preparing to proceed with foreclosure, that's the number you will see. The first real step in a CA foreclosure is the Notice of Default. On that notice, there is always a default amount(past due payments and fees) that needs to be paid to bring the loan current. The Notice of Default period lasts for three months. It's way too early in the process to panic about it. You have a plan, I'm sure you'll be fine.

              : : : Thank you for your response! I am very confused by a statement in the letter...it says "You are hereby notified that, due to the default under the terms of the mortgage or deed of trust, the entire balance is due and payable." Is this is entire amount past due or the entire amount of the loan? Thank you again! Like I said, I contacted the attorney but was told I need to wait 3-5 business days for a response and I am going crazy worrying myself to death!

              : : : : : : : Sandra,

              : : : : Borrowers in CA can reinstate a loan up to 5 business days before the sale. The earliest a sale could possibly take place is almost 4 months from now.



              : (0)

  • Posted by Jim V on February 04, 2005 at 15:53:43:

    Interesting story that kind of mirrors what some people have said about Ameriquest. The link is below.

    : (0)

  • Posted by Mary on February 04, 2005 at 00:38:39:

    My home foreclosed in KY in 2004. Today in the mail, I received a 1099A. Outstanding balance is 71,645.97. FMV is listed as 94,495.00. Ok here is the problem. First and foremost, Fairbanks Capital was the lender. Not my choice, it was sold to them. Also, after the foreclosure, I have yet to hear anything about the sale. I know there has been at least 2 different owners of the house since it foreclosed. Is there anyway I can find out what it sold for. Also, is there a chance that they could owe me money. According to the Tax assesser, it was valued at 140,000.Also, how would I begin to figure my taxes. Where would I have to enter the info on the 1040 form.

    I also will add, that I haven't declared bankruptcy. Should I..Sorry to be so lengthy. Any and all answers are appreciated.

    : (4)

    • Posted by Jim V on February 07, 2005 at 22:17:21:

      In Reply to: Help with 1099A Posted by Mary on February 04, 2005 at 00:38:39:

      Mary,

      KY uses a judicial foreclosure process, which means that relevant documents will be filed with the Clerk of the Courts, rather than the County Recorder. It is highly probable though, that the recorder has information on when, and for how much, the property transferred for. That sounds a little confusing even to me, so I'll rephrase.

      Go to the county buildings in the county where the property was located. Ask for the County Recorder's office. Go there, hopefully they are computerized, and ask how to search property records llsted under your name. Search your name, you should find a transfer listing you, and the buyer of the property at the foreclosure auction. There should also be a value listed for the transfer, that would be the amount paid at the foreclosure auction. If the transfer value was greater than the amount of the outstanding balance, plus past due amounts, plus foreclosure costs, and there weren't any other loans/liens against the property, you should be entitled to the excess proceeds. I know it sounds like a lot of work, but it really could be done in a couple of hours. It's well worth it if money is due you. Start with that, keep track of whatever results, and repost the information as a new message rather than replying to this one.Older message threads go down the board and are hard to find, new messages get posted on the top. Feel free to put my name in the subject, it will call my attention to it.

      : My home foreclosed in KY in 2004. Today in the mail, I received a 1099A. Outstanding balance is 71,645.97. FMV is listed as 94,495.00. Ok here is the problem. First and foremost, Fairbanks Capital was the lender. Not my choice, it was sold to them. Also, after the foreclosure, I have yet to hear anything about the sale. I know there has been at least 2 different owners of the house since it foreclosed. Is there anyway I can find out what it sold for. Also, is there a chance that they could owe me money. According to the Tax assesser, it was valued at 140,000.: Also, how would I begin to figure my taxes. Where would I have to enter the info on the 1040 form.

      : I also will add, that I haven't declared bankruptcy. Should I..: Sorry to be so lengthy. Any and all answers are appreciated.



      : (0)

    • Posted by Jim V on February 06, 2005 at 01:48:28:

      In Reply to: Help with 1099A Posted by Mary on February 04, 2005 at 00:38:39:

      Mary,

      I'll probably take a look at this again on Monday, but meanwhile I put a link to a site that has some info about 1099A implications. Check it and see if it answers some of your questions.

      : My home foreclosed in KY in 2004. Today in the mail, I received a 1099A. Outstanding balance is 71,645.97. FMV is listed as 94,495.00. Ok here is the problem. First and foremost, Fairbanks Capital was the lender. Not my choice, it was sold to them. Also, after the foreclosure, I have yet to hear anything about the sale. I know there has been at least 2 different owners of the house since it foreclosed. Is there anyway I can find out what it sold for. Also, is there a chance that they could owe me money. According to the Tax assesser, it was valued at 140,000.: Also, how would I begin to figure my taxes. Where would I have to enter the info on the 1040 form.

      : I also will add, that I haven't declared bankruptcy. Should I..: Sorry to be so lengthy. Any and all answers are appreciated.

    • Foreclosure Tax Link


    : (0)

  • Posted by Jeff on February 05, 2005 at 08:30:27:

    In Reply to: Help with 1099A Posted by Mary on February 04, 2005 at 00:38:39:

    I live in ky as well..am getting ready to go through the process you just did. I would like to ask you some questions regarding this. Please respond via my email address if you can. Thanks, Jeff

    : (0)

  • Posted by Ms.Worry on February 03, 2005 at 21:50:45:

    back in November I was late in making my payment, mortgage co said they could not take my payment unless I made 2.Now were in December and they said they cant post my payment unless I make 3 see the pattern here? Finally I said I would just make all deliquent payments around the first of feb when I got my tax return. They said I didnt qualify for a payment plan I said fine lets just agree that I make all deliquent fees and payments by the 1st or so of Feb.....they agreed....Here I am calling to make my all my deliquent payments(nov,dec,jan,and feb)They lady said that she can no longer take payments because they have turned it over to their attorney for FORECLOSURE...I said WHAT? nobody even mentioned that word to me and plus these are the arrangements I agreed to. I know almost 4months deliquent sounds bad but only cuz they would not accept my payments...not cuz I didnt have the money..I was late in November only cuz I had an expensive car repair thats all and I am able to make my payments. So can anybody tell me what happens now? the lady said to contact the attorney but the letter to them was just sent out today. she said there might be other fees involved wasnt sure. She also said to contact loss mitigation in the morning to see if they could maybe help...does anybody know what might possibly happen now?? I have my full delinquent amt..late fees and all..seems like they set me up for this...ASC mortgage.. Any advice?No sleepin tonight for me....grrrr....another problem a single mom has to worry about..Do you think I will be fine by calling loss litigation and them possible taking my payment? anybody know if i can still prevent this from going to AN ATTORNEY???? Pls help!

    : (18)

    • Posted by Dan Smith on February 27, 2005 at 12:17:50:

      In Reply to: TxForeclosure Maybe? Posted by Ms.Worry on February 03, 2005 at 21:50:45:

      I have the misfortune of having the same mortgage company. I ran accross this link attempting to find the companies headquarters to file crimanal charges against them as they have taken my money and refuse to credit my account. In fact they have in the first 90 days reported me as 60 days delinquent when I am paid up. They have cashed my checks and refused to credit me. I have also found numerous complaints about these rip off artists. This is not accidental. This company is in business to commit theft and fraud and nothing more.

      I am looking for other victems of this company. Please email me if you have had problems with ASC and or ANY information about them. They refuse to divulge thier home office location to me. Nor can I find them listed anywhere except in accusations of fraud and incompentence such as this. Do a Google search on America's Servicing company and you find no shortage of victems from this company.

      : (11)

      • Posted by Suzanne Henry on March 27, 2005 at 18:23:44:

        In Reply to: Re: TxForeclosure Maybe? Posted by Dan Smith on February 27, 2005 at 12:17:50:

        I have also had several of the same types of problems. For 3 months in a row, I have sent copies of the fronts and backs of my checks where they cashed them. They are still sending me a late charge. I have made several attempts to call, they keep telling me it will be solved in 15 days. I heard that for 3 months now. They also told me they would flag my phone number and to expect a phone call, with no calls from them.

        This company needs to be stopped. I am not about to give up and have this company walk all over me. If I have the opportunity, I will try to have someone else service my loan.

        After I found all these bad messages about them, I wish I could have stopped the transfer of my loan.

        : (2)

        • Posted by Dan Smith on April 13, 2005 at 10:08:42:

          In Reply to: Re: TxForeclosure Maybe? Posted by Suzanne Henry on March 27, 2005 at 18:23:44:

          So far the best remedy I've been able to find has been to contact the local BBB and file a complaint there. This has started a chain of positive steps towards getting my issues resolved. Turns out ASC is likley to be investigated by the FTC over unfair practices. Numerous complaints about them are likened to Fairbanks which many people think ASC is a front for Fairbanks due to the similarities in how they service mortgages.

          I was filmed yesterday discussing my problems with ASC again thanks to my local BBB contact. The FBI needs more total damages, I need about 10 more before they can open a full investigation into ASC. I am filing a complaint with the FTC as suggested in a long series of complaints about ASC on http://www.badbusinessbureau.com/reports/ripoff116406.htmland by the BBB here in Houston.

          Another step to take is to file a complaint with your former lender. It will not help you but may save some other poor soul the misery of having to deal with ASC.





          : I have also had several of the same types of problems. For 3 months in a row, I have sent copies of the fronts and backs of my checks where they cashed them. They are still sending me a late charge. I have made several attempts to call, they keep telling me it will be solved in 15 days. I heard that for 3 months now. They also told me they would flag my phone number and to expect a phone call, with no calls from them.

          : This company needs to be stopped. I am not about to give up and have this company walk all over me. If I have the opportunity, I will try to have someone else service my loan.

          : After I found all these bad messages about them, I wish I could have stopped the transfer of my loan.



          : (1)

          • Posted by Dan Smith on April 13, 2005 at 10:10:14:

            In Reply to: Re: TxForeclosure Maybe? Posted by Dan Smith on April 13, 2005 at 10:08:42:

            : So far the best remedy I've been able to find has been to contact the local BBB and file a complaint there. This has started a chain of positive steps towards getting my issues resolved. Turns out ASC is likley to be investigated by the FTC over unfair practices. Numerous complaints about them are likened to Fairbanks which many people think ASC is a front for Fairbanks due to the similarities in how they service mortgages.

            : I was filmed yesterday by a local TV station discussing my problems with ASC again thanks to my local BBB contact. The FBI needs more total damages, I need about 10 more before they can open a full investigation into ASC. I am filing a complaint with the FTC as suggested in a long series of complaints about ASC on http://www.badbusinessbureau.com/reports/ripoff116406.html: and by the BBB here in Houston.

            : Another step to take is to file a complaint with your former lender. It will not help you but may save some other poor soul the misery of having to deal with ASC.



            : : I have also had several of the same types of problems. For 3 months in a row, I have sent copies of the fronts and backs of my checks where they cashed them. They are still sending me a late charge. I have made several attempts to call, they keep telling me it will be solved in 15 days. I heard that for 3 months now. They also told me they would flag my phone number and to expect a phone call, with no calls from them.

            : : This company needs to be stopped. I am not about to give up and have this company walk all over me. If I have the opportunity, I will try to have someone else service my loan.

            : : After I found all these bad messages about them, I wish I could have stopped the transfer of my loan.



            : (0)

      • Posted by denise williams on March 14, 2005 at 13:47:22:

        In Reply to: Re: TxForeclosure Maybe? Posted by Dan Smith on February 27, 2005 at 12:17:50:

        : I have the misfortune of having the same mortgage company. I ran accross this link attempting to find the companies headquarters to file crimanal charges against them as they have taken my money and refuse to credit my account. In fact they have in the first 90 days reported me as 60 days delinquent when I am paid up. They have cashed my checks and refused to credit me. I have also found numerous complaints about these rip off artists. This is not accidental. This company is in business to commit theft and fraud and nothing more.

        : I am looking for other victems of this company. Please email me if you have had problems with ASC and or ANY information about them. They refuse to divulge thier home office location to me. Nor can I find them listed anywhere except in accusations of fraud and incompentence such as this. Do a Google search on : America's Servicing company and you find no shortage of victems from this company.



        : (3)


        • Parse error: syntax error, unexpected '>' in /home/allforc233/all-foreclosure.com/forum/messages/16418.php on line 5