July - August 2002 Archives




  • Posted by Ramola Nair on August 29, 2002 at 12:26:05:

    Hi All,

    I am settling on a house that I purchased through foreclosure. Any suggestions as to what Virginia law might be on getting the current occupants out. I called Consumer Protection and was advised that since I am the legal owner I could technically go into the property by changing the locks immediately.

    Also, does anyone know how I could conduct a preliminary title search?

    Thanks!

    Ramola : (2)



    • Posted by Ward-CA- on August 29, 2002 at 13:54:50:

      In Reply to: Please respond-I appreciate it! posted by Ramola Nair on August 29, 2002 at 12:26:05:

      : Hi All,

      : I am settling on a house that I purchased through foreclosure. Any suggestions as to what Virginia law might be on getting the current occupants out. I called Consumer Protection and was advised that since I am the legal owner I could technically go into the property by changing the locks immediately.

      : Also, does anyone know how I could conduct a preliminary title search?

      : Thanks!

      : Ramola ===============================Ramola,

      I'm amazed that a Consumer Protection agency would tell you it's OK to change locks to force an occupant to vacate premises!!

      Try that here in CA and the Consumer Protection agency would be leading a march against the new owner, threatening to sue her for all she owns if she did such an act while the property was occupied. : (1)



      • Posted by tinaj on September 04, 2002 at 21:58:47:

        In Reply to: Wow, don't try that here in CA. posted by Ward-CA- on August 29, 2002 at 13:54:50:

        And you don't want that at all, unless you LIKE being the villian on the nightly local news. : (0)



  • Posted by Orlando on August 29, 2002 at 10:17:30:

    I have a property in an area that the value has decreased. I bought a studio and after the third day I moved into the place, i had problems with the roof and leaks. During the first few years, the sales department was in charge to get the roof fixed until the association is established. Now we have an association, but they are saying that a lof of the owners are not paying on time, and the association does not have a lot of money to fix the roof. Recently the were inspecting the roof of all building to check to status and see if the can work around an assesment and with the insurance company to replace the roof. They have been saying that for the last few years. LAst year I have to pay from my pocked to someone to fix part of my roof and ceeling. Now I have another leak and the association said that they still getting quotes and that they can do anything at the moment because they don't have any money. I have been dealing with this problem for four year. I tried to sell few times ( including realtors) and no luck. I am feeling this preasure of moving somewhere else and stop paying the association and mortgage. I do not want to wake up in the middle of the night with part of the ceiling over my head. Few tenants had that experience. What other option I have. : (1)



    • Posted by Reinstatement Services, Inc. on August 29, 2002 at 10:28:55:

      In Reply to: Returning property to the lending institution. posted by Orlando on August 29, 2002 at 10:17:30:

      : (0)



  • Posted by Jaimie on August 29, 2002 at 00:32:25:

    I am renting a property, through a reality company, but the actual ownwer of the house.....hasn't been paying the morgage and its being forclosed. what does this mean to me as the renter???? any one know my options??? can I get out of the lease???do I have to sign a new lease?? I would try to buy the place my self, but I don't feel it is worth the money. (I live in Indiana.) Thanks!!! : (0)



  • Posted by Sharon on August 28, 2002 at 23:18:41:

    I pray that everyone can keep their homes. If this is not possible atleast avoid foreclosure on your credit report. Allow me to assist you and avoid foreclosures in the DC/MD/VA areas.

    Thanks and Be blessed! : (4)



    • Posted by Antonio Holmes on September 04, 2002 at 23:26:55:

      In Reply to: I will help prevent foreclosures... posted by Sharon on August 28, 2002 at 23:18:41:

      I have a sale date of 9/10/02-I filled bankrupcky howeve my atty did something wrong and it was dismissed. Can you help me?

      Thanks

      : (0)



    • Posted by Bob H on August 29, 2002 at 01:21:35:

      In Reply to: I will help prevent foreclosures... posted by Sharon on August 28, 2002 at 23:18:41:

      Wouldn't you be out of business?

      Maybe it's just me, but the transparency of your self-proclaimed altruism leaves me feeling like maybe I need to disinfect my computer screen after reading you post.

      : (1)



      • Posted by Tinaj on August 29, 2002 at 19:53:24:

        In Reply to: If your prayers are answered . . posted by Bob H on August 29, 2002 at 01:21:35:

        Looks like a snake oil saleslady to me. : (0)



  • Posted by norm white on August 28, 2002 at 20:51:05:

    i buy forclosures in the orlando,fl area.udder $100,000 if you want to sell email me. norm : (0)



  • Posted by lamont on August 28, 2002 at 20:23:20:

    What is the first step in buying a forclosed home? : (2)



    • Posted by lamont on August 28, 2002 at 20:25:45:

      In Reply to: foreclosure posted by lamont on August 28, 2002 at 20:23:20:

      : What is the first step in buying a foreclosed home?

      : (1)



      • Posted by lamont on August 28, 2002 at 20:26:42:

        In Reply to: Re: foreclosure posted by lamont on August 28, 2002 at 20:25:45:

        : : What is the first step in buying a foreclosed home?

        : (0)



  • Posted by Jenny on August 28, 2002 at 13:44:01:

    My husband and I recently lost our home to foreclosure. When I say recently I mean about 4 months ago. Of course we tried to avoid it but our situation was too hard for them to work with at the time. We are doing better now but now we are left to wonder when will we have to move out. We have been looking for a place to rent but trying to stay here as long as possible, in order to save as much money as possible. Family and friends tell us that we should receive some type of certified letter stating we need to move out by a certain date. We are both young and know very little about real estate or foreclosure. We realize we have made a HUGE mistake, but now we are completely in the dark. We are trying to better our lives and put aside some money. If anyone knows what happens now, or has any advise we would absolutely love to hear it. Oh, one more thing the last letter we received was a letter asking if we would like to rent our home, at current market value. That was about a month ago, but we declined figuring we should cut our loses. I am in a very sad state and knowing that this house is no longer ours would be too sad. We are ready for a new start...in a new place! Once again thanks. (Sorry I wrote so much!) : (1)



    • Posted by Ward-CA- on August 29, 2002 at 10:42:56:

      In Reply to: Move out, when??? posted by Jenny on August 28, 2002 at 13:44:01:

      : My husband and I recently lost our home to foreclosure. When I say recently I mean about 4 months ago. Of course we tried to avoid it but our situation was too hard for them to work with at the time. We are doing better now but now we are left to wonder when will we have to move out. We have been looking for a place to rent but trying to stay here as long as possible, in order to save as much money as possible. Family and friends tell us that we should receive some type of certified letter stating we need to move out by a certain date. We are both young and know very little about real estate or foreclosure. We realize we have made a HUGE mistake, but now we are completely in the dark. We are trying to better our lives and put aside some money. If anyone knows what happens now, or has any advise we would absolutely love to hear it. Oh, one more thing the last letter we received was a letter asking if we would like to rent our home, at current market value. That was about a month ago, but we declined figuring we should cut our loses. I am in a very sad state and knowing that this house is no longer ours would be too sad. We are ready for a new start...in a new place! Once again thanks. (Sorry I wrote so much!)

      =•=•=•=•=•=•=•=•=•=•=

      Jenny,

      Your family and friends are right. You should be contacted by mail, either regular mail or certified mail, that you have a certain amount of time before you have to vacate the premises. And I would be out within the time the notice states,, so you’re not the subject of a eviction lawsuit. Record of a formal eviction will show up on your credit record so you want to avoid that if at all possible.

      But, in the meantime I’d be like you and enjoy the free stay and save up some money.

      Good luck. : (0)



  • Posted by Seth on August 28, 2002 at 13:04:26:

    my home is in foreclosure. I am 11 payments behind. I am still in the property. I was told the judgement will be filed in court on Sept 6th. How much time do I have from Sept 6th to vacate the property. Any information would be greatly appreciated. Thanks. : (0)



  • Posted by anxious larry on August 28, 2002 at 10:35:37:

    I posted a couple of weeks back. My home was being forclosed on. There was so many people offering help but not any answers. I didn't know who to trust.

    I just want to let everyone know that Reinstatement Services came through for me. I signed the paperwork from my lender yesterday and everything is settled. I get to keep my house. You wouldn't believe the deal I got. It's better than I ever would have thought. Plus, the sale scheduled for this coming week is off.

    I just wanted people like me to know there is a company you can trust to do what they say they'll do. I'm glad I gave them a chance.

    : (5)



    • Posted by trel on August 28, 2002 at 18:06:24:

      In Reply to: It Worked posted by anxious larry on August 28, 2002 at 10:35:37:

      You would be correct to be cautious. Today, everyone seems to be full of it.

      There are several quality operators in this industry. RSI is definitely one of them.

      So is the owner of this forum. You might considerthanking him as well for providing this serviceat his expense.

      trel : (1)



      • Posted by anxious Larry on August 29, 2002 at 12:25:57:

        In Reply to: Not surprised. posted by trel on August 28, 2002 at 18:06:24:

        You're right. Thanks. Your forum connected me with the help I needed. I'm grateful.

        : You would be correct to be cautious. Today, : everyone seems to be full of it.

        : There are several quality operators in this : industry. RSI is definitely one of them.

        : So is the owner of this forum. You might consider: thanking him as well for providing this service: at his expense.

        : trel

        : (0)



    • Posted by Penny on August 28, 2002 at 14:43:37:

      In Reply to: It Worked posted by anxious larry on August 28, 2002 at 10:35:37:

      Larry I was reading your story about Reinstatement Services helping you,Maybe you can show me a direction to go in?I am in forcloser right now.I have lived in my home for eight years,and have three children.My husband got sick with Diabetes was not able to work,my job down sizes and I got laid-off.We have fallen so far.We are both back to work now,and do not want to loose our home.





      : (1)



      • Posted by anxious Larry on August 28, 2002 at 15:13:07:

        In Reply to: Re: I NEED ANSWERS! posted by Penny on August 28, 2002 at 14:43:37:

        Call Dr. Karen. She helped me. Her number is (661) 250-1874. It was definitely worth the fee.

        : (0)



    • Posted by Penny on August 28, 2002 at 14:28:13:

      In Reply to: It Worked posted by anxious larry on August 28, 2002 at 10:35:37:

      : I posted a couple of weeks back. My home was being forclosed on. There was so many people offering help but not any answers. I didn't know who to trust.

      : I just want to let everyone know that Reinstatement Services came through for me. I signed the paperwork from my lender yesterday and everything is settled. I get to keep my house. You wouldn't believe the deal I got. It's better than I ever would have thought. Plus, the sale scheduled for this coming week is off.

      : I just wanted people like me to know there is a company you can trust to do what they say they'll do. I'm glad I gave them a chance.

      : (0)



  • Posted by DALE on August 28, 2002 at 03:12:39:

    My home is in the process of being foreclosed.

    I delayed this temporarily by filing Chapter 7.

    I have my home up for sale and the sooner that I can sell it, the better.

    If anyone has any links or information pertaining to this situation, or knows of anyone, anywhere that would like to purchase my property that would be fantastic.

    I would appreciate it very much if you would please contact me.

    Sincerely,

    D. Arringtonramacco@go.com or torpedo53@prodigy.net : (1)



    • Posted by Bob H on August 28, 2002 at 16:46:12:

      In Reply to: HOME IN FORECLOSURE! NEED TO SELL PROPERTY FAST... posted by DALE on August 28, 2002 at 03:12:39:

      Dale,

      Where is your house? What's the price? etc : (0)



  • Posted by Michael on August 27, 2002 at 22:52:27:

    I am only 2 months behind in payments but the scare tackticks have already begun. I am selling my house but am affraid the foreclosure process will start before I close the sale. I just don't know how soon it comes. anyone been through this? : (2)



    • Posted by Jenny on August 28, 2002 at 13:20:24:

      In Reply to: step by step foreclosure process in MA posted by Michael on August 27, 2002 at 22:52:27:

      : I am only 2 months behind in payments but the scare tackticks have already begun. I am selling my house but am affraid the foreclosure process will start before I close the sale. I just don't know how soon it comes. anyone been through this?

      Hey there...My name is Jenny, and my husband and I recently lost our home to foreclosure. In our case it took them a few months after there threats began to get everything finalized. For me I was devastated and was looking at every option to delay the process. Regardless they move at there own pace, whether it be a month or several. They foreclosed about 4 months ago and we are still in our home. Last month they sent us an offer to rent our home, at current market value. We declined the offer and decided to cut our losses. This is one mistake we will not overcome any time soon. Now we are just awaiting our eviction notice.

      : (0)



    • Posted by Reinstatement Services, Inc. on August 28, 2002 at 11:39:27:

      In Reply to: step by step foreclosure process in MA posted by Michael on August 27, 2002 at 22:52:27:

      Which scare tactics are those, Michael?

      Besides, what does it matter if the foreclosure process begins before you sell your home. The point is, you're actively working to avoid foreclosure - forced sale-- and that's all anyone can ask.

      Since you know that foreclosure is imminent if you do not reinstate the loan, perhaps it would be wise to keep in touch with the listing agent to make certain that the listing is aggressively being marketed.

      A workout with your lender might also be an avenue worth pursuing. : (0)



  • Posted by Sean W. (NOLA) on August 27, 2002 at 22:31:10:

    ATTN: LA.,MS.,Gulf South Region Investors...

    I am not sure if a "region" specific discussion groupexsists for our area,so I created one. [If there is a groupand I am just clueless,enlighten me please!]

    I am interested in Networking,etc etc etc...

    Subscribe:

    Louisiana_REI_Networking

    web address: http://groups.yahoo.com/group/Louisiana_REI_Networking

    Subscribe via email: Louisiana_REI_Networking-subscribe@yahoogroups.com

    Best Regards,Sean : (0)



  • Posted by Nichole on August 27, 2002 at 19:58:54:

    buy a house that is in the process of being foreclosed in Ca. I have access to a site that gives some information on the houses, but most are in the "notice of default" stage. I know that it takes about four months for the process to be completed, but I am not sure who to contact in reguards to finding out about sale date, location and time. Will I need to pay for the property that day or can it be financed??? Any help would be appreciated. : (0)



  • Posted by Teresa on August 27, 2002 at 17:31:22:

    Can a 2nd mortgage holder foreclose due to being 2 months behind? : (1)



    • Posted by Reinstatement Services, Inc. on August 28, 2002 at 11:25:09:

      In Reply to: Alabama 2nd Mortgage Foreclosure posted by Teresa on August 27, 2002 at 17:31:22:

      : (0)



  • Posted by lis on August 27, 2002 at 15:36:47:

    i am in the midst of working on a loan modification with my bank to prevent my home being foreclosed upon. how long will this stay on my credit history and how will it affect my credit in future? : (0)



  • Posted by mikeint debbry on August 27, 2002 at 04:44:50:

    I am in process of buying a foreclosure and I would like to know who could help me in closing this deal by funding me at their earliest. : (1)



  • Posted by tom on August 26, 2002 at 12:30:32:

    i was just wondering if anyone could tell me if it would be a good idea to let my deceiced mom estate go into foreclosure because i am living in the home and paying the morgage. i have other bro's and sis' that would like to take the house from me when it is paid off if it goes into probatethanks for ur help : (1)



    • Posted by Reinstatement Services, Inc. on August 27, 2002 at 15:43:36:

      In Reply to: foreclosure vs. probate posted by tom on August 26, 2002 at 12:30:32:

      I sense [at least I hope] that there is a larger question on your mind, Tom. What you've presented doesn't make much sense unless you are simply looking for someone to flip a coin...in which case you don't need us to do so. : (0)



  • Posted by A Fullar on August 26, 2002 at 10:16:26:

    I filed bankrupstcy in April and the bank has tried to vacate the stay but was unsuccessful in proving their case. Now they say, "oh we didn't raise your payments when we were supposeded to" then raised my payments $300 higher. I can't afford to pay that much of an increase and I am afraid I'm gonna lose my house. Do I have any resources or do I have to face the fact that me and my 5 children are gonna be homeless. I can't believe this is happening. I have nowhere to go. Apartments/ realtors wont' rent to me beacuse of the bankruptcy and family size.How long to do I have before they kick me out. SOMEBODY PLEASE HELP!!! : (2)



    • Posted by asia milligan on September 01, 2002 at 17:52:23:

      In Reply to: HELP! Foreclosure after Bankruptcy posted by A Fullar on August 26, 2002 at 10:16:26:

      : I filed bankrupstcy in April and the bank has tried to vacate the stay but was unsuccessful in proving their case. Now they say, "oh we didn't raise your payments when we were supposeded to" then raised my payments $300 higher. I can't afford to pay that much of an increase and I am afraid I'm gonna lose my house. Do I have any resources or do I have to face the fact that me and my 5 children are gonna be homeless. I can't believe this is happening. I have nowhere to go. Apartments/ realtors wont' rent to me beacuse of the bankruptcy and family size.: How long to do I have before they kick me out. SOMEBODY PLEASE HELP!!!

      : (0)



    • Posted by Reinstatement Services, Inc. on August 26, 2002 at 11:11:48:

      In Reply to: HELP! Foreclosure after Bankruptcy posted by A Fullar on August 26, 2002 at 10:16:26:

      Depending upon the type of loan you have, you might be eligible for any one of a variety of workouts that will realistically meet your needs and move you towards reinstatement. : (0)



  • Posted by Larry on August 26, 2002 at 06:11:34:

    I live in Iowa. I have a first mortgage of aprox $30,000 and a second mortgage of aprox $85,000. Yes the second is higher then the first.I refinanced for $89,000 and paid off a $30,000 line of credit that was never closed by the new mortgage holder, which brought the line of credit to first mortgage standing.then I maxed out the line of credit.I lost my job from illness and am on S.S. disibility now.I can't afford the payments .what would happen if I defalted on the second mortgage of $85,000, and kept paying the first. : (2)



    • Posted by Larry on August 26, 2002 at 16:55:08:

      In Reply to: SECOND MORTGAGE IN IOWA posted by Larry on August 26, 2002 at 06:11:34:

      I don't think I even want to keep the home. I can't keep up with the yard work or maint.,let alone the payments. I couldn't sell it for what I owe on it with the sagging market as it is. I just don't know what to do with it. : (0)



    • Posted by Reinstatement Services, Inc. on August 26, 2002 at 11:14:55:

      In Reply to: SECOND MORTGAGE IN IOWA posted by Larry on August 26, 2002 at 06:11:34:

      : (0)



  • Posted by Cindi on August 26, 2002 at 01:05:51:

    I posted earlier about the lease/purchase that is in foreclosure. I have another question. My mortgage officer told me that I cannot get a loan for this house until I get the title and that I won't get the title until I give the sheriffs office the money. Is that true or is there a way around it? I must tell you that we are stated income as my husband has his own business. He said to buy it back from the mortgage company after the sale saying that 95% of homes are bought back by the mortgage co. If I do that, will they want fair market value or just what they have in it? Is there a way to get around all this before the sale? : (1)



    • Posted by Nick(Colorado) on August 26, 2002 at 12:34:42:

      In Reply to: question about sheriffs sale posted by Cindi on August 26, 2002 at 01:05:51:

      Cindi:

      If the mortgage company takes back the property, youwill have to pay near retail for it. You can improve yourchanges of getting the property discounted if you contact the officer in charge of the property and tell him/her that you would like to purchase the property from them. This may keep them from listing it with a local real estateagent/broker, thus saving 5%.

      Alternately you can have a local foreclosure investor or hard money lender purchase the property at auction. You can offer them a fixed percentage/amount to hold the property while you get financing.

      : (0)



  • Posted by Diane on August 25, 2002 at 19:48:52:

    Hi,The balance of our first and second mortgages exceeds what the market value of our house is(125% 2nd mortgage huge mistake). We are not near foreclosure but is a short sale a possiblity in this case or does the situation have to get worse before we could act on this?Thanks : (1)



    • Posted by njdave on August 26, 2002 at 06:37:13:

      In Reply to: Selling house w/ 1st and 2nd mortgage posted by Diane on August 25, 2002 at 19:48:52:

      A short sale is a possibility... though you might be asked to repay part of the second mortgage balance via an unsecured note.

      A few years ago I was asked to handle a short sale for a couple who simply wanted to move. Their mortgage loan payments were current and they enjoyed a good income. They owed more on the mortgage loan than the as-is, fair market value of the house.

      Initially, I rejected the assignment because I didn't think their lender would approve a short sale. Long story short, I did agree to accept the assigment and their lender did agree to accept a short payff.

      The Sellers did incur an exposure to liability for income tax... but to them, 30% of the $30,000 savings was a bargain.

      : (0)



  • Posted by Mike Maupin on August 25, 2002 at 00:28:44:

    I am 2 payments behind on a 15 year mortgage and also 2 payments behind on my truck.I had a great paying job working in telecom and my wife did not work because I made plenty enough money to support our family of 4.

    Well to make a long story short I got laid off and was suppose to be called back anytime,then the bottom fell out of the telecom industry.I was told I would be called back and even told I had a few jobs,but nothing happened.My wife went back to work and I recieved unemployment benifits while trying to find a job that pays more than the unemployment itself.

    They sent a letter in the mail stating that there were other alternatives than foreclosure.God please help me! I can not lose my house.I dont want my kids to lose there home,thier neigborhood.I dont want them to have to possibly change schools.I am sorry ! Please help me.I am losing my mind and dont know what to do or where to turn.I dont know if I should file bankruptsy or try to consolidate my bills or what.I would probaly be just fine if I could break the ice and get caught up but it seems impossible.Please help ! Mike

    : (4)



    • Posted by Reinstatement Services, Inc. on August 28, 2002 at 14:54:47:

      In Reply to: Foreclosure Help posted by Mike Maupin on August 25, 2002 at 00:28:44:

      Mike, was the cry for help a ploy? I find it very interesting that you have not bothered to contact us even to INQUIRE as to what might be done on yours and your children's behalf.

      This just doesn't jive with the desperation that you claim you are facing. Our offer for assistance is retracted.

      We wish you the best in your future endeavors.

    • Default and Foreclosure Solutions
    : (0)


  • Posted by Troy on August 27, 2002 at 17:13:58:

    In Reply to: Foreclosure Help posted by Mike Maupin on August 25, 2002 at 00:28:44:

    Working with an investor or real estate professional may be your only alternative, email me for more info, I am sure I can help you!!!

    : (0)



  • Posted by Reinstatement Services, Inc. on August 25, 2002 at 01:14:23:

    In Reply to: Foreclosure Help posted by Mike Maupin on August 25, 2002 at 00:28:44:

    Mike, give us a call. We'll see what we can do to assist you, free of charge, in honor of Labor Day. : (1)



    • Posted by Tinaj on September 01, 2002 at 20:45:06:

      In Reply to: Happy Labor Day posted by Reinstatement Services, Inc. on August 25, 2002 at 01:14:23:

      It's good to see that there are still nice people out there, anyway. : (0)



  • Posted by Julie on August 24, 2002 at 17:26:12:

    I want to purchase a home whose owner died--it has been sitting for about 3 months vacant, and the fiance of the deceased says that she cant afford it so wants the bank to foreclose--I have the property appraisers acct# w/the name of the deceased, but the fiance won't give the bank his Death Certificate. My question is how can I find out who the bank is to purchase the home before it is foreclosed on--or should I wait until it is foreclosed to try and purchase it?? Thanks for a reply : (1)



    • Posted by Nick(Colorado) on August 25, 2002 at 16:15:49:

      In Reply to: buying a possible foreclosure posted by Julie on August 24, 2002 at 17:26:12:

      Julie:

      Go to the probate court and find out the current disposition of the property in question. Depending on which state you are in the fiance may have no legal standing to sell or occupy theproperty. Find the current legal heir's of the property andoffer them an equity split based on current appraisal and thecosts of sale.

      : (0)



  • Posted by theresa reigle on August 24, 2002 at 10:38:11:

    how can i buy a house at a good % off, that is in the lawers hands after a forecloser, the girl went through bankrupies. : (0)



  • Posted by Mack on August 24, 2002 at 01:13:44:

    However bad your credit history may be there will be no stopping for you from getting a loan for warehouse/distribution. This can be got with a minimum of paperwork. What you have to do is to submit your information for the type of loan you seek by filling up an online form at www.ineedhardmoney.com : (1)



    • Posted by tjs on August 24, 2002 at 10:44:22:

      In Reply to: However bad your credit history posted by Mack on August 24, 2002 at 01:13:44:

      I don't know what you're marketing here exactly, and your syntax is a little off - "filling up" an online form? - But there's a box down there to type in the URL so people can just click on the link.

      : (0)



  • Posted by J. King on August 23, 2002 at 14:43:58:

    Does anyone know of a good course that teaches you specificially about buying tax sale properties. I don't want one of those marketing based courses that I have been disappointed with. The ones that make you buy something else to really learn how to do it.

    Any info would be very much appreciated. I am also looking for Texas deals.

    JK : (2)



    • Posted by Ben (NJ) on September 01, 2002 at 13:59:38:

      In Reply to: Buying tax sale properties posted by J. King on August 23, 2002 at 14:43:58:

      : Does anyone know of a good course that teaches you specificially about buying tax sale properties. I don't want one of those marketing based courses that I have been disappointed with. The ones that make you buy something else to really learn how to do it.

      : Any info would be very much appreciated. I am also looking for Texas deals.

      : JK

      : (1)



      • Posted by SHERRY on September 01, 2002 at 22:11:30:

        In Reply to: Roy at taxsales.com is the real deal. (nt) posted by Ben (NJ) on September 01, 2002 at 13:59:38:

        : : Does anyone know of a good course that teaches you specificially about buying tax sale properties. I don't want one of those marketing based courses that I have been disappointed with. The ones that make you buy something else to really learn how to do it.

        : : Any info would be very much appreciated. I am also looking for Texas deals.

        : : JKLOOK ON EBAY I FOUND AN INTERESTING ONE THERE AND THE PRICE WAS RIGHT. I HAVE NOT PURCHASED IT YET BUT IF U DO PLEASE GET BACK TO ME AND LET ME KNOW HOW IT WAS AND HE IS ALSO OFFERING A MONEY BACK GUARENTEE SO CHECK IT OUT U HAVE NOTHING TO LOSE. I HAVE JUST BEEN TO BUSY TO DEAL WITH IT AT THE MIMENT. : (0)



  • Posted by Kurtis Squyres on August 23, 2002 at 12:27:04:

    I live in Southern California and am really getting the hang of this. However, my family and friends live in Texas and I am studying foreclosure process in Texas in order to get something going there. My dream in life is to live in CA but spend lots of time in Texas buying properties there as well. Contact me if you either: want to be a mostly silent partner but want to share in investment capital for a great return, are active and want to share sweat and elbow grease with me, any combination on the above.

    Kurtis : (1)



    • Posted by Joe Chicago on August 24, 2002 at 11:29:29:

      In Reply to: Looking For Texas Partner/Investor Austin, SA Area posted by Kurtis Squyres on August 23, 2002 at 12:27:04:



      : I live in Southern California and am really getting the hang of this. However, my family and friends live in Texas and I am studying foreclosure process in Texas in order to get something going there. My dream in life is to live in CA but spend lots of time in Texas buying properties there as well. Contact me if you either: want to be a mostly silent partner but want to share in investment capital for a great return, are active and want to share sweat and elbow grease with me, any combination on the above.

      : Kurtis

      If you are a real estate investor or are looking to purchase or trade a home or property the Property Exchange Network is a free program that links investors, buyers, and sellers. http://www.propertyexchangeusa.com/register/log_on.php.You can register at the following web site http://www.propertyexchangeusa.com/register/log_on.php you will need to input my email address jd53@attbi.com as the referrer email address when you register. With the computer matching system it will match investors, buyers, and traders for propertiies throughout the US. If you are an investor, it will also help with finding properties for you.

      Email the Property ExchangeUSA Owner Jim Evans at trader@pxusa.net and tell him that you are a registered "Optioner" referred by Joe Daujotas and you would like to be put on his Optioner Emailing List so you can receive the a Daily Training Ezine that will teach you step by step about how to make this program work.

      If you need funding for your projects such as rehabs or flips or hard money this can be arranged through an affiliate groupat http://www.NoteBuyersGroup.com. Loan programs are designed for Realtors, Lic. Mortgage Brokers, Commercial Brokers,Real Estate Investors and Individuals wanting a Home Loan we are your Direct Lenders for All your Commercial/Residential Deals/Needs. We do No Seasoning Loans/ Flip Funding/Rehab Loans, Hard Money, Commercial Loans up to 10 MillionSimultaneous Closings/Multiple Transactions/Multiple Property Deals/No Credit Score Needed/Self-Employment/100% NOO.We fund for all ll 50 States*.If you have question, feel free to contact me. Joe Daujotas 847-571-0765

      : (0)



  • Posted by andrea on August 23, 2002 at 07:37:33:

    >> I am trying to find out if a bankruptcy will protect the interest of my> 1st mortgage -- The second was sold at an auction. The person who bought> it has not perfected title by paying off the first and is currently trying> to evict me. We had previously negotiated buying it back from him, but> requested that he provide court documentation as we had received nothing> except an acceleration notice filed in another county that the loan was in> default. We requested to pay the balance to the lender, but were told that they> had to assess the fines and get back to us in writing with the amount --> They never did. A request of this nature was made to them several times> and by several people including a local Realtor who said that he was> taking care of it. I then received a bill from the lender (not their> attorney) with an amount indicating payment needed to be received by> 8/10/02. The house sold on 8/5 -- a hand written note was left on my door> by the person who purchased it. I checked with the county recorder and> found only the foreclosure to be recorded and I was still listed as the> owner. I found out today that he did record a deed of trust on 8/13.> From what I understand, the first mortgage company should have been> notified, they could have been represented at the auction to purchase the> loan which in turn would have nullified all others. They have not started> foreclosure proceedings. If you can help me understand if foreclosure is> an option. Does Nevada have a redemption period? Does he have right of possession? How do I find out what it sold for? Can he evict me? Does he have to pay off the first or will it go into foreclosure too?>>





    : (5)



    • Posted by Nick(Colorado) on August 25, 2002 at 16:31:16:

      In Reply to: second mortgage sold at an auction posted by andrea on August 23, 2002 at 07:37:33:

      Andrea:

      According to my sources Nevada does not recognize a formal redemption period. When a junior lien holder (such as a second) goes to auction, the purchaser take possession of theproperty subject to any senior liens. So basicly the entitythat purchased the second at auction will need to evict and then service or payoff the first. You -may- be able to delaythe eviction with a bankruptcy, but only for a short period of time. The court will release the stay of the eviction at the first date, as you no longer hold title.

      The entity that purchased the second may not have known itwas a junior lien at sale? So you may try going via the negotiated route.

      : (4)



      • Posted by andrea on August 27, 2002 at 01:06:28:

        In Reply to: Re: second mortgage sold at an auction posted by Nick(Colorado) on August 25, 2002 at 16:31:16:

        Thank you for responding -- all of my research has lead me in thesame direction. However, there has been a new development that Iwould love to get your thoughts on. Although I cannot substantiatethis information, it is interesting. My attorney (unfortunetly not areal estate attorney) sent a written request to the lender of on thesecond mortage and a letter to real estate law firm that theyassigned the mortage to; requesting information on the default,notice of sale, and sale date but we have not heard anything backfrom them. That was several weeks ago. He also sent a letter to themanager of the limited partnership which bought it at the auction,aking he do the same. He has not responded either. So, I phoned themortgage lender and asked for the status and recent history of theloan. The gentleman on the phone was a bit confussed that I wasasking the questions because the notes on the case indicated thatthey had been in contact with me throughout the process. Because ofthis, he questioned if I was indeed who I said I was, which made himvery reluctant to give too much information. So he suggested that Isubmit a request in writing. He did tell me however, that the loanwas not sold at auction that it was sold just before auction. Hewouldn't tell me to whom. I then asked if that would be publicrecord and if I could obtain it any other place because of the timesensitive nature of the situation -- he indicated no. I then askedhow somebody would go about purchasing a loan prior to auction. Heresponded that it would have been arranged through the person holdingthe loan -- me??? I then checked with the county recorder and foundthe deed of sale which indicated that he purchased it at auction andwas the highest bidder. Very confused?? Any thoughts you may have Iwould truly appreciate. Thank you!!!

























        : (3)



        • Posted by Nick(Colorado) on August 27, 2002 at 11:50:38:

          In Reply to: Re: second mortgage sold at an auction posted by andrea on August 27, 2002 at 01:06:28:

          Andrea:

          The county clerk and recorders office will have the best picture on the ownership of the property. If the loan was sold to a third party, prior to the auction, that third party will need to record an "assignment of deed of trust." If the property was sold at auction, there will be a trustee's deed issued to the third party. From the sounds of it, theproperty was sold at auction. Also you can contact the trustee's office to get information on the final disposition of the sale. You may want to do this anyway to see if therewas an overbid that you are entitled to.

          Just for edification, a loan can be sold to a third party at any time without your consent. The new party must adhereto the wording of the original loan agrement, and must file an ASD as indicated above. They must also contact you to change where the payment is sent. : (2)



          • Posted by andrea on August 27, 2002 at 15:31:12:

            In Reply to: Re: second mortgage sold at an auction posted by Nick(Colorado) on August 27, 2002 at 11:50:38:

            : I have contacted the trustee's office, they have not responded to my written request. I am thinking that there is a possibility of a fraudulant sale since the lender told me it was sold to a third party but the records indicate it was sold at auction.

            I know that this probably seems unlikely, however my experience with Nevada and the number of "inside" business deals conducted leads me to believe that this situation is definitly plausible and that I should look into it. I have no reason to believe that the lender would "make up" that information.

            Having said that, why would the deed transfer which is recorded not indicate it was sold prior to auction? The purpose of a public auction, if I'm not mistaken, gives the owner and anyone whom may have an interest in the property the opportunity to protect their interests? Neither one of use new of the auction.

            Thank you again for your time and assistance.

            Andrea:

            : The county clerk and recorders office will have the best : picture on the ownership of the property. If the loan was : sold to a third party, prior to the auction, that third : party will need to record an "assignment of deed of trust." : If the property was sold at auction, there will be a trustee's : deed issued to the third party. From the sounds of it, the: property was sold at auction. Also you can contact the : trustee's office to get information on the final disposition : of the sale. You may want to do this anyway to see if there: was an overbid that you are entitled to.

            : Just for edification, a loan can be sold to a third party : at any time without your consent. The new party must adhere: to the wording of the original loan agrement, and must file : an ASD as indicated above. They must also contact you to : change where the payment is sent.

            : (1)



            • Posted by Nick(Colorado) on August 28, 2002 at 14:09:55:

              In Reply to: Re: second mortgage sold at an auction posted by andrea on August 27, 2002 at 15:31:12:

              Andrea:

              First: Physically go done to the trustee's office and look at the file. They will ask who you are, but as your name should beat the top of the file, there will be no problem. Check the addresses for the "parties of interest" and the property description for accuracy. Your name, occupent, and the various lien holders should all be there.

              Sometimes a bank will move a note into a special trust when that note stops performing. This may be what the service rep foryour loan was indicating. If you are interested, get the name ofthe entity that purchased the note. If it is something like "Bankers Trust Corp ..." then this is a home for defaulted notes.

              Second: Physically go done to the clerk and recorders officeand print out the first page of all of the instruments that relate to the your property. (following in date from your original purchase) Who is the grantor and grantee on the trustee's deed?

              >Neither one of use new of the auction.

              They may have gotten your address wrong. Generally this is not a reason to set aside an auction. I believe that Nevada is a public notification state. The auctions will be posted in a local county paper. If you where not in violation of your loan agrement,that is another story, and the sale can/will be set aside.

              : (0)



  • Posted by eva on August 22, 2002 at 18:15:33:

    We are renting a house which is up for auction on Sep. 4th in the state of Rhode Island. Can someone advise what rights as renters we may have in how long we are entitled to stay. Will the new owners need to give us 30 days? We were just informed by reading it in the newspaper. Please help. : (0)



  • Posted by Valerie on August 22, 2002 at 16:14:00:

    I am interested in a property that has not yet gone into foreclosure. I am told that it could take up to a year before something is done with the property. It has already been vacant for several months. Is there anything I can do to find out info on this now? : (0)



  • Posted by Kathy Smith on August 22, 2002 at 14:13:46:

    We have looked over all of our options and it looks like bankruptcy is the only one left for us to do. My question is this: Do I dare tell my creditors that we are filing?We have spoken with an attorney but have not filed as of yet.We are hoping to do a 13.

    Any advice will be appreciated.

    Kathy Smith : (3)



    • Posted by Tinaj on August 23, 2002 at 20:23:27:

      In Reply to: Bankruptcy posted by Kathy Smith on August 22, 2002 at 14:13:46:

      They're all gonna find out anyway once you do file. If you are talking about credit card and finance companies who call you 42 x a day wanting money that you don't have, you might as well tell them that you have spoken with an attorney, you are filing a ch. 13 and you will send the case number, etc., to them through your attorney as soon as possible. Then give them your attorney's phone number and name and tell them to call him. They probably won't, but they won't call you either.If you mean your mortgage company and your car loan or something secured, I'd hedge a little bit till you have actually filed before I told them. I don't know why exactly, I don't think they can accelerate your mortgage just because you tell them you're thinking about it, but still that's what I would do. AS someone who knows nothing about it, that's my advice. Good luck. : (2)



      • Posted by Kathy on August 23, 2002 at 20:59:54:

        In Reply to: which creditors are you talking about? posted by Tinaj on August 23, 2002 at 20:23:27:

        Thanks for your advice! Makes sense to me. I thoughtthe foreclosure process takes 2 months to get going.Is there something that goes faster?

        : (1)



        • Posted by tinaj on August 24, 2002 at 10:45:44:

          In Reply to: Re: which creditors are you talking about? posted by Kathy on August 23, 2002 at 20:59:54:

          If I were you, I'd search the board archives here for specific laws for your state. IN our state it's 90 days for foreclosure, but your car loan, etc., you'd have to look back on the 43,599 papers they gave you when you signed for it. : (0)



  • Posted by Mandy on August 22, 2002 at 11:54:29:

    We are filing Ch. 7 bankruptcy. I have been contacted by a private investor about buying our properties (we have 4) out of foreclosure. How does this process work? Also, we will be living in one of the homes and it has a very large 2nd mortgage we would like to get out of. He stated that we could let it go into foreclosure an by it back for very little money. Does this sound legitimate? Also, who's paying him and what does he benefit by doing this for us. If we keep the 1st mortgage current and don't pay the second mortgage, what can happen to us. We owe $220000 on the 1st and $108000 on the 2nd. The home would probably sell for about $260000. Any help would be greatly appreciated! : (0)



  • Posted by SAM WATSON on August 22, 2002 at 11:46:19:

    I am in touch with a homowner who is in Pre-Foreclosure. She owes 185K to her bank as first mortgage and no other lien on the property, as she said, but I am going to get a title report once I am ready to buy.

    She just wants to sell for 185k and move on with her life. Property is worth about 225k.

    If she signed title to me for $3000 and I go to the courthouse and record it under my name, What is the next step I should take to keep this propert?

    1-- Should I pay her back payments and let the lender find out about the transfer of the title and risk triggering the due on sale clause.

    2-- Or Don't pay any back payments at all and let the forclosing process continue and in the mean time refinance the property.

    Is it possible to refinance such property for me, giving excellent credit and job history? If it is, then How I go about it? Does someone knows the process?Propert is in my name but not the loan. Once I go for refinancing, do I have to pay any down payment?

    Your feed back is appreciated, as always.

    Thanks

    Sam Watson : (0)



  • Posted by tim nichting on August 22, 2002 at 11:39:29:

    my question is- i recently bought a condo at a sheriffs auction. i had to put down earness money to hold the property (let say this happened 1/1/2002). well i did not close on the property until 4/1/2002.(the reason it took so long to close was the address was listed wrong in the paper, therefore the sheriffs office had to give the owners of the foreclosure property - proper time to see if they want to still come back and pay all the proper fees). now the condo associations says i owe condo fees all the way back to the 1/1/2002 date but, i feel i didn't close on the property till 4/1/2002 so that is when i feel i should be responsible for condo fees. can anybody answer this question - please - thanks. : (0)



  • Posted by Rose on August 22, 2002 at 08:37:15:

    My husband and I were recently served with the beginning foreclosure papers. Among all the legal babble they had mentioned something about garnishing his wages. Is that possible? Is there anything we can do to stop that from happening? We don't care anymore if they take the house back. And have accepted this will happen. But for them to garnish his wages ... well if they do that how is a person supposed to live. I don't see how that can even be legal. : (0)



  • Posted by steve on August 22, 2002 at 01:09:47:

    i have an interesting question regarding foreclosures and postponed property taxes

    in CA, some persons (often elderly) qualify for the State to postpone their property taxes - it seems to me that the state may pay the county and then plan to recover the funds at a later time (perhaps through escrow in the event of a sale) - -

    the question is: if a foreclosing deed of trust is senior to this postponed tax - - does it get wiped out ?

    is there verbiage that converts this from a Tax lien to a regular lien - in which case it is no different than an AJ/etc.??

    any civil code references?

    thank you for your input(s)steve : (0)



  • Posted by patricia on August 21, 2002 at 21:39:10:

    I have recently married. Prior to this I bought a home in my name only. My husband has bought us a home in his name only. We cannot afford both. Mine is in another city and too far to rent out. We have tried to sell my home to no avail. If I allow foreclosure on my home what will the affect be on my husband's credit rating? Mine is not very good already. : (3)



    • Posted by SHERRY on September 01, 2002 at 23:15:12:

      In Reply to: affect of my bad credit on my new husband posted by patricia on August 21, 2002 at 21:39:10:

      : I have recently married. Prior to this I bought a home in my name only. My husband has bought us a home in his name only. We cannot afford both. Mine is in another city and too far to rent out. We have tried to sell my home to no avail. If I allow foreclosure on my home what will the affect be on my husband's credit rating? Mine is not very good already.

      HLLO IS YOUR HOUSE STILL FOR SALE? WHERE IS IT LOCATED? EMAIL ME BACK AT SAJ1962@WEBTV.NET THANKS : (0)



    • Posted by Trinity on August 22, 2002 at 01:47:46:

      In Reply to: affect of my bad credit on my new husband posted by patricia on August 21, 2002 at 21:39:10:

      : I have recently married. Prior to this I bought a home in my name only. My husband has bought us a home in his name only. We cannot afford both. Mine is in another city and too far to rent out. We have tried to sell my home to no avail. If I allow foreclosure on my home what will the affect be on my husband's credit rating? Mine is not very good already.

      This does not apply to your question directly, however, if you could sell your property it may help restore your credit. Here is a web site where you can post your home for sale for free. We share information on buyers, sellers, traders, investors, and even personal property buyers and traders: www.propertyexchangeusa.com.

      : (0)



    • Posted by Reinstatement Services, Inc. on August 22, 2002 at 00:11:03:

      In Reply to: affect of my bad credit on my new husband posted by patricia on August 21, 2002 at 21:39:10:

      I am reminded of a 'currently being aired/run' commercial about appliances and whether a guarantee applies. The CS rep reassures the female customer yet she keeps coming back [at least 4 times] in different disguises asking the same question about the guarantee.

      Patricia...as long as your name stays off of your husbands house you should be fine. Consult an attorney in your region for laws specific to marital liability. : (0)



  • Posted by theresa reigle on August 21, 2002 at 19:59:38:

    i would like to buy a home, the owner was evicted, and they clamed bankrupier,the home is in the hands of the lenders attn, i would like to buy the house at a bid percentage off. : (1)



    • Posted by Reinstatement Services, Inc. on August 21, 2002 at 23:59:34:

      In Reply to: buying a home, from attn. before forecloser posted by theresa reigle on August 21, 2002 at 19:59:38:

      : (0)



  • Posted by Elena Christensen on August 21, 2002 at 15:41:00:

    I am mortgagee on a land. My mortgagor has not paid interest-only payments for the past three months in the appropriate amount. Been paying some, but not all of subscribed amount.I really do not want to foreclose as this mortgagor is a friend. Please advise! : (1)



    • Posted by Reinstatement Services, Inc. on August 22, 2002 at 00:16:29:

      In Reply to: How to Foreclose posted by Elena Christensen on August 21, 2002 at 15:41:00:

      I suppose you can continue to allow yourself to be used and disregarded. But why?

      Time to grow up. Suck it up and get down to business...or stop complaining.

    • Default and Foreclosure Solutions
    : (0)


  • Posted by Laura on August 21, 2002 at 08:40:31:

    I live in Michigan and my house is being foreclosed on next week due to a divorce and a few other losses. How long do I have after the sale to move out?

    Thanks,Laura : (7)



    • Posted by Jason Brown on August 21, 2002 at 17:32:38:

      In Reply to: Michigan foreclosure next week---How long? posted by Laura on August 21, 2002 at 08:40:31:

      Laura-

      First, contact a lawyer and get a quick legal opinion.

      In Michigan, there is a 6-month redemption period after your home is sold at auction. In other words, you should have six weeks to move out.

      Where in Michigan are you? I may be able to help your situation. Feel free to email me at msujay_1997@yahoo.com. Please include how much is owed on the first mortgage, how far past due you are, the approximate value of your house, and the amount of any other liens against the property. I look forward to hearing from you.

      Jason Brown

      : I live in Michigan and my house is being foreclosed on next week due to a divorce and a few other losses. How long do I have after the sale to move out?

      : : Thanks,: Laura

      : (5)



      • Posted by Reinstatement Services, Inc. on August 21, 2002 at 23:54:19:

        In Reply to: Re: Michigan foreclosure next week---How long? posted by Jason Brown on August 21, 2002 at 17:32:38:

        Jason, I was with you up until you said the mortgagor would have 6 weeks to move out [perhaps a typo?]. Additionally, there are qualifiers regarding the actual length of the redemption period.

        A 6 month redemption period applies EXCEPT:1. If the security instrument is older than 01/19652. If the property is larger than 3 acres3. If 1/3 of the outstanding principal balance has been paid.

        If any of the afore mentioned qualifiers apply then the redemption period is 12 months.

        If the property has been abandoned then the redemption period is 3 months...although the mortgagee can petition to have the time reduced.

        According to Michigan law mortgagors are entitled to full possession of property, including rents and/or profits, during the redemption period.

        RE: Eviction - a Summons and Complaint is filed w/ the Court. A schedule for hearing will be determined depending upon the court's caseload but usually within 30 days. The court will establish a vacate date. If the holdover refuses to vacate by the date determined then the court is petitioned for a Writ of Restitution. Once the Writ is secured then a bailiff/or other law enforcement representative will remove the holdover tenants. : (4)

        • Posted by Dawn on September 07, 2002 at 01:12:38:

          Does anyone know of a company(s) that provides pre-forclosure information in Maryland?

          : (2)

          • Posted by Robin Isaacs on September 07, 2002 at 17:46:33:

            In Reply to: bk vs foreclosure which is best Posted by Sheela on September 07, 2002 at 01:18:45:

            : lost job, will recover, can't afford house payment, can afford CC payments, which affects you worse foreclosure or bankruptcy, can i save some credit by paying and keeping the cc's. Read alot of people still get foreclosed on even using bankruptcy. How does one affect credit report vs. the other?



            : (0)

          • Posted by Sheela on September 07, 2002 at 01:18:45:

            lost job, will recover, can't afford house payment, can afford CC payments, which affects you worse foreclosure or bankruptcy, can i save some credit by paying and keeping the cc's. Read alot of people still get foreclosed on even using bankruptcy. How does one affect credit report vs. the other?

            : (0)



        • Posted by Jason on August 23, 2002 at 16:40:41:

          In Reply to: Re: Michigan foreclosure next week---How long? posted by Reinstatement Services, Inc. on August 21, 2002 at 23:54:19:

          Sorry for the confusion, I meant 6 months NOT six weeks! Good catch!

          : Jason, I was with you up until you said the mortgagor would have 6 weeks to move out [perhaps a typo?]. Additionally, there are qualifiers regarding the actual length of the redemption period.

          : A 6 month redemption period applies EXCEPT:: 1. If the security instrument is older than 01/1965: 2. If the property is larger than 3 acres: 3. If 1/3 of the outstanding principal balance has been paid.

          : If any of the afore mentioned qualifiers apply then the redemption period is 12 months.

          : If the property has been abandoned then the redemption period is 3 months...although the mortgagee can petition to have the time reduced.

          : According to Michigan law mortgagors are entitled to full possession of property, including rents and/or profits, during the redemption period.

          : RE: Eviction - a Summons and Complaint is filed w/ the Court. A schedule for hearing will be determined depending upon the court's caseload but usually within 30 days. The court will establish a vacate date. If the holdover refuses to vacate by the date determined then the court is petitioned for a Writ of Restitution. Once the Writ is secured then a bailiff/or other law enforcement representative will remove the holdover tenants.

          : (0)



    • Posted by Reinstatement Services, Inc. on August 21, 2002 at 12:34:41:

      In Reply to: Michigan foreclosure next week---How long? posted by Laura on August 21, 2002 at 08:40:31:

      Phone the attorney hired by your lender to process the foreclosure action. They will be able to provide you with a near accurate estimate as to when they will be processing you for eviction. : (0)



  • Posted by Terry on August 21, 2002 at 06:54:20:

    Yes, it's in foreclosure already by the first mortgage holder......they are 6 months behind on the first note and 1 month behind on the 2nd note. The property is worth 120k and they owe roughly 95k to the first and 17k to us (the 2nd). there is absolutely NO WAY to pay off that first note and gain control of the property to resell. We absolutely CANNOT bid on this property so this is not an option for us. Yes, the proper papers were done at closing in regards to the 2nd loan by a lawyer. : (0)



  • Posted by Terry on August 20, 2002 at 23:16:55:

    We are the 2nd lienholder to a property that is going to be foreclosed upon by the first lienholder. They are owed $95,000 and we are owed $17,000. We absolutely cannot bid on this property and do not want this house...what are our chances of recovering our 17,000? We sold the borrowers this house and gave them this money as a 2nd mortgage at closing. We are really at a loss and i have a feeling we get absolutely nothing! : (4)



    • Posted by Troy on August 27, 2002 at 17:11:04:

      In Reply to: 2nd lienholder needs help posted by Terry on August 20, 2002 at 23:16:55:

      If this property does go to sale, you do run the risk of getting nothing back. I would sell the note to an investor at a discount (probably 30 cents on the dollar) to at least try to salvage somthing from the deal... : (0)



    • Posted by Terry on August 21, 2002 at 06:52:54:

      In Reply to: 2nd lienholder needs help posted by Terry on August 20, 2002 at 23:16:55:

      Yes, it's in foreclosure already by the first mortgage holder......they are 6 months behind on the first note and 1 month behind on the 2nd note. The property is worth 120k and they owe roughly 95k to the first and 17k to us (the 2nd). there is absolutely NO WAY to pay off that first note and gain control of the property to resell. We absolutely CANNOT bid on this property so this is not an option for us. Yes, the proper papers were done at closing in regards to the 2nd loan by a lawyer. : (1)



      • Posted by njdave on August 21, 2002 at 07:53:55:

        In Reply to: Re: 2nd lienholder needs help posted by Terry on August 21, 2002 at 06:52:54:

        Your private email suggests that the property is worth only $60,000, but here you say it's worth $112,000. Which is it?

        You might offer to sell your $17,000 mortgage and note at a steep discount to an Investor willing to foreclose and pursue the property.... : (0)



    • Posted by njdave on August 21, 2002 at 05:58:53:

      In Reply to: 2nd lienholder needs help posted by Terry on August 20, 2002 at 23:16:55:

      Hopefully, you hired an attorney to prepare the mortgage document(s) which anticipated and provided procedure in the event of Borrower's default. Hopefully, that mortgage was properly signed, witnessed, and recorded. If your Borrowers are in default of the first mortgage... they are probably in default of the second mortgage, too. Have you initiated foreclosure proceedings?

      If not, why not? What is the value of the home?

      If there is a cushion of equity, perhaps you can cure the first mortgage default, and include that sum in your foreclosure against the Borrower.

      : (0)



  • Posted by Mark on August 20, 2002 at 19:45:09:

    How would I go about getting a list of these in Ohio, mainly NE like Akron and Cleveland? Thanks : (0)



  • Posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:51:41:



    Posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:46:56:

    In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:

    Beware! It is so unforfunate that so many of us are facing "financial hardships" and still we get scammed out of our misfortunes. Banks foreclose our homes, scam artists claim they can help us to stop foreclosing and repair our bad credits. The government keeps on ignoring its middle class hard working Americans. When Americans face a financial overload, financially stuck, financially misfortunates, bankruptcies, still we have to pay for every breath we take. Our freedom here means "That we can drive across the country without being restricted" but there is no freedom in financial breakdown.

    : (3)



    • Posted by JFK on September 01, 2002 at 14:03:33:

      In Reply to: When Will America Extend Her Arms To Financially Distressed? posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:51:41:

      : Posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:46:56:

      : In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:

      : : Beware! It is so unforfunate that so many of us are facing "financial hardships" and still we get scammed out of our misfortunes. Banks foreclose our homes, scam artists claim they can help us to stop foreclosing and repair our bad credits. The government keeps on ignoring its middle class hard working Americans. When Americans face a financial overload, financially stuck, financially misfortunates, bankruptcies, still we have to pay for every breath we take. Our freedom here means "That we can drive across the country without being restricted" but there is no freedom in financial breakdown.

      : (0)



    • Posted by njdave on August 20, 2002 at 18:21:59:

      In Reply to: When Will America Extend Her Arms To Financially Distressed? posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:51:41:

      Don' get me started! Sure our government can forgive tens of billions in loans to other countries where our (future) business interest lay... and look the other way (or pay lip service) when corporate thieves of the highest order rape and plunder our financial futures..(they are terrorists, too) or ............

      Argggh! : (1)



      • Posted by TinaJ on August 23, 2002 at 20:14:42:

        In Reply to: Re: When Will America Extend Her Arms To Financially Distressed? posted by njdave on August 20, 2002 at 18:21:59:

        And we can make some lovely soothing herb bath aroma therapy or something. Just boil down some crisp $100 bills if you are too lazy to gather herbs. It's a good thing!

        Oh no, I forgot! Martha's in hot water already! No, no, bad idea. Okay.

        Well, let's see now.....how can we relax? I know! You could come pick us up in your big SUV and we can go drive around rich nightclubs in the Hamptons and run over white trash! All it's gonna get Poor Lizzie Grubman (I don't care what that slut says, I pronounce it Grub-man, not groob-man) is a relatively short stint in an alcohol rehab facility. Think how rewarding and relaxing to plow into 17 commoners in your big Excursion or whatever! Tension-free!

        Well those are all my ideas tonight. I regret to say that I have to work tonight, just like the other six nights out of the week, in an attempt to keep body and soul together. I'm just a hard-wroking single mother with two teenagers and no child support, so it's certain the government doesn't care about me.

        Luckily I have only ONE house to try to pay the mortgage on; why, if I had six or seven like those poor Enron executives I just don't know how in the world i'd cope!

        But at least I'm not martha stewart or lizzie grubman! : (0)



  • Posted by pete on August 20, 2002 at 16:25:37:

    is it benefical to be classified as this status for fix and flips aany info or input would be help ful or links to explain more detaisl on this matter ty : (0)



  • Posted by KK on August 20, 2002 at 13:31:33:

    If i'm currently behind on my 2 mortgages and I would like to go for a foreclosure, Can I still do it.Can the foreclosure still be processed with the payment behind on the 2nd mortgage.

    Thanks... : (2)



    • Posted by njdave on August 21, 2002 at 08:58:36:

      In Reply to: 2 Mortgages posted by KK on August 20, 2002 at 13:31:33:

      Do you mean that you are presently delinquent in your mortgage repayment obligation on one property... and you want to pursue the purchase and finance of another property?

      (whether the desired property is in foreclosure or an REO is immaterial)

      Are you asking if the blemish on your credit history will exact an adverse impact on your ability to qualify for another mortgage loan? : (0)



    • Posted by Brit Boy on August 21, 2002 at 08:44:00:

      In Reply to: 2 Mortgages posted by KK on August 20, 2002 at 13:31:33:

      : If i'm currently behind on my 2 mortgages and I would like to go for a foreclosure, Can I still do it.: Can the foreclosure still be processed with the payment behind on the 2nd mortgage.

      : Thanks...

      Have you put the property on the market already? If not why not? : (0)



  • Posted by Alyson Kelly on August 20, 2002 at 11:55:31:

    Hi our names are Alyson & Abbey, two single mothers with a total of (4) children who have been financially unsuccessfull at trying to maintain a company that assist others during financial hardships. As we ourselves face what our very own clients have faced before us. We have exhausted all avenues of assistance including private lending institutions, state assistance and federal assistance. No one is willing to supply us with the capital that is so desperately needed for helping others and so we are turning to you-the American people for HELP. It is in times like this that we stand togeter. A $2.00 donation will go towards the overwhelming debt that we have incurred and give us the financial straight to keep our good cause afloat, saving our American homes from foreclosoure. Please HELP!!!!!!Any and all donatins are appreciated. Please send to

    American Foreclosure Freedom18 Mountain Laurel DriveClifton Park,New York 12065 : (0)



  • Posted by Tank on August 20, 2002 at 09:48:51:

    Hello all,

    My problem is that i have a co-op that i have owned for approx 10 years, out of which i have been legally subletting it for 7 years to a tenant that i have never been able to recoupe my bottom line on mort/maint, so i had to pay the difference out of my pocket. I did so because the co-op market in NY had dried up and i was stuck with this money losing investment.

    So in Jan of this year i had my tenant vacate said property, i totally renovated the place in the amount of about $10,000 in the hopes of making it marketable and selling it. Well, it was put on the market in feb by a real estate agent and i didnt have any luck getting a buyer. So after my 6 month contract with that agent expired i listed it with a different agent and it appears that i am going down that same road again. Mind you that the apt has been empty since jan and i am still paying the maint/mort plus now the additional money that i invested in the renovation. I can now longer afford to carry this load any longer. My question is what are my options for getting rid of it at this point? It would be a shame to lose my 10 years of equity (and pain and suffering), but i am really desperate. I dont care about making a profit, i just want to get out of my obligation on it. Should i foreclose on it? Can i turn it over to the bank to save my credit? ANY HELP WOULD BE GREATLY APPRECIATED. : (5)



    • Posted by njdave on August 20, 2002 at 11:02:43:

      In Reply to: need advice on a co-op that i can't sell or rent. posted by Tank on August 20, 2002 at 09:48:51:

      Anything will sell if properly priced, and adequately exposed to the market.

      If your co-op hasn't sold... or at least received serious offers... it may be priced too high... or not marketed properly... or both.

      Why not have a property appraisal performed and know for certain. : (4)



      • Posted by Tank on August 20, 2002 at 11:20:14:

        In Reply to: Re: anything will sell if properly priced and posted by njdave on August 20, 2002 at 11:02:43:

        they have taken in consideration the amount still owed to the bank plus their commission (without any profit margin) and they feel that it is in line with the current market values. Still it is not selling and I am running out of time and money. I can't keep this up, I just want out, preferrably with my credit in tact. Im really desperate. Thank you for your response njdave. : (3)



        • Posted by Pauline (NY) on August 28, 2002 at 16:08:38:

          In Reply to: it has been appraised 2 times by 2 diff r. e. agents posted by Tank on August 20, 2002 at 11:20:14:

          Hi Tank,

          I'm a real estate investor located in NYC. Maybe I can help. No promises! Please email me directly so that we can discuss in detail how a solution might be structured once I have all the facts, keeping your good credit intact. Let's talk!

          Pauline

          : (0)



        • Posted by njdave on August 20, 2002 at 12:00:31:

          In Reply to: it has been appraised 2 times by 2 diff r. e. agents posted by Tank on August 20, 2002 at 11:20:14:

          Real estate agents work for their brokers... and may not be qualified to perform an appraisal (licensed, certified, etc.) or provide an unbiased opinion since it is their job to obtain a listing agreement. They're selling a service.

          If you want to dump the property you'll have to list it at it's as-is, fair market value (or slightly less) irrespective of what you owe or what it will cost to sell it since the amount that is owed is immaterial to it's value.

          If you need to sell it via a short payoff, that's another story.

          : (1)



          • Posted by tina on August 23, 2002 at 20:20:04:

            In Reply to: Re: real estate agents work for their posted by njdave on August 20, 2002 at 12:00:31:

            yourself? Around here appraisals are about $300. You're going to have to pay for one anyway, or the buyer is, if the realtor finds you a buyer.

            I've sold two houses myself. The closing company does all the stuff that you don't know how to do; you just have to be willing to do some preliminary work. Put ads in paper, etc. : (0)



  • Posted by Gary on August 20, 2002 at 09:05:14:

    Does anyone know what the "precentage of value" is on a foreclosure in West Virginia? I have purchased several houses at foreclosure auctions in the past few years with no problems until now. I have the orginal owner and her bankrupcy attorney filing a law suit aganist the Bank, Trustee, and myself because the house at the auction sold less than 72% of the value. I have asked other attorneys but no one seems to know. One said "no, it's 51%" and another said "no, the trustee needs to get to more than the amount owed, plus expenses."

    The bank's bid was a lot lower than mine, so what would happen if they would have purchased the house? I purchased the house on January 10th and it's already August and I still don't have the house.



    Any : (1)



    • Posted by njdave on August 20, 2002 at 09:57:03:

      In Reply to: Percentage of Value posted by Gary on August 20, 2002 at 09:05:14:

      From a national mortgage loan servicers' directory:

      The foreclosure sale is conducted as a public auction with the property being sold to the highest bidder.

      West Virginia case law suggests the bid of the lender or beneficiary under the Trust Deed should be a minimum of two-thirds to three-fourthsof the estimated value of the property being sold... or the sale may be subject to being set aside by a Court of competent jurisdiction...

      : (0)



  • Posted by Lisa on August 20, 2002 at 07:57:33:

    How much money are we going to spend when we want to foreclose our home? Any suggestions on how a two year old mortgage can earn money when I sell the house instead of losing it?

    Thanks : (3)



    • Posted by anom on August 20, 2002 at 22:31:00:

      In Reply to: About Foreclosure posted by Lisa on August 20, 2002 at 07:57:33:

      : How much money are we going to spend when we want to foreclose our home? Any suggestions on how a two year old mortgage can earn money when I sell the house instead of losing it?

      : Thanks

      How long is a piece of string? Depends on circumstances surely, like euqity etc. : (2)



      • Posted by Lisa on August 21, 2002 at 07:43:17:

        In Reply to: Re: About Foreclosure posted by anom on August 20, 2002 at 22:31:00:

        I only put about 3% down payment when I started the mortgage and the house was about 145000 when I purchased it. : (1)



        • Posted by tinaj on August 23, 2002 at 20:48:57:

          In Reply to: Re: About Foreclosure posted by Lisa on August 21, 2002 at 07:43:17:

          Have you tried to contact the lender's workout department? Do you just want to get out from under it or keep it? : (0)



  • Posted by Cindi on August 20, 2002 at 00:38:52:

    We were purchasing a house and the owners stopped making their mortgage payment last November. They started with the foreclosure in April. They owe $244,000 to IRS and 16,000+ to the OK Tax Comm. So, we have to wait and try and purchase it at Sheriffs sale, if we want to keep it. My question is, how long does all this take? They are on the run and nobody can find them as they are hiding from other things as well. The house was appraised at $185,000 in April. I have been told we can be here 1-2 years but today someone called for info on it and told me it could be as little as 2 months since the people are not dragging it out by making any payments and are not even anywhere to be found. Thanks for any help! PS. She also said they would start the bidding at 88% of the homes value, is that true?

    Cindi : (1)



    • Posted by Nick(Colorado) on August 25, 2002 at 17:00:33:

      In Reply to: Lease/purchase went to foreclosure what now? posted by Cindi on August 20, 2002 at 00:38:52:

      Cindi:

      Your best bet is to purchase the property at the Sheriff's sale. You will then need to contact the IRS to see if they would like to redeem. Be upfront with all of the numbers,so that you can get an accurate response. If they do not want to redeem, you are home free. : (0)



  • Posted by wilks on August 19, 2002 at 21:27:39:

    On Oct 29, 2001 i was almost 3 months behind on my mtg. I called my mtg co and they told me i could mail in 1/2 of what i owed and the rest in a couple of weeks. I over nighted the money on the 30th and called two days later on the 1st. They said they received the money but sent my loan to foreclosure on the 30th. They told me that they would try to work it out and accept the pmt. Well, three weeks later they sent my check back and they wouldn't accept it. With the check, a letter told me to call this attorney who would accept a reinstatement. I called the attorney at the end of November, the lady told me she would get the amount and that i had until Jan.10th to pay. She never called me back. I waited to call her until Jan 4th(she told me I had until the 10th). She said ok they sent me the amount and it must be here by Jan 10th and put me on hold. She came back and said I'm sorry I told u the wrong day. The home went to sale yesterday. I immediately call the mtg company and they tell me that I should get a lawyer. I did and we are going to court this Friday. I have the money to reinstate the loan, but I'm afraid they won't let me. My question is since the lawyer representing the mtg co told me I had until the 10th to re-instate but she told me wrong and admits that to the mtg co and my lawyer, What are the chances of me winning this case. Any help would be greatly appreciated. ALso, If i lose will i have to move that day or will they give me some time. I'm in Alabama...Thank You : (4)



    • Posted by Reinstatement Services, Inc. on August 19, 2002 at 23:02:37:

      In Reply to: Please Help! posted by wilks on August 19, 2002 at 21:27:39:

      Wilks, the short answer is you weren't proactive enough - all the waiting. Fact is, if the sale took place in January...why hasn't this matter been resolved? More waiting I assume?

      You'll be hard pressed to prove that you didn't receive written communication regarding sale. Also, sale notices are posted in local papers [and usually on the property itself] as a way of alerting parties holing an interest in the real property.

      Your actions did not demonstrate a readiness to bring resolve. In my opinion, your chance for successful conclusion in a legal setting is almost non-existent.

      Understand, lenders do not have to extend or even agree to workout. Once a loan is defaulted on they are within their legal right to pursue remedy based on the specifications of the contract.

      Since it would appear that your home has become part of your lender's REO portfolio, instead of further alienating your lender with a hostile action perhaps you might consider appealing to your lender to rescind the foreclosure action and reinstate the loan.

      Although prior payment history will most assuredly be considered, those most successful at getting the lender to overturn a foreclosure will be able to demonstrate why it might be in the lender's best interest to do so.

      : (2)



      • Posted by Tinaj on August 23, 2002 at 20:26:26:

        In Reply to: 12 Month Right of Redemption posted by Reinstatement Services, Inc. on August 19, 2002 at 23:02:37:

        : Wilks, the short answer is you weren't proactive enough - all the waiting. Fact is, if the sale took place in January...why hasn't this matter been resolved? More waiting I assume?

        : You'll be hard pressed to prove that you didn't receive written communication regarding sale. Also, sale notices are posted in local papers [and usually on the property itself] as a way of alerting parties holing an interest in the real property.

        : Your actions did not demonstrate a readiness to bring resolve. In my opinion, your chance for successful conclusion in a legal setting is almost non-existent.

        : Understand, lenders do not have to extend or even agree to workout. Once a loan is defaulted on they are within their legal right to pursue remedy based on the specifications of the contract.

        : Since it would appear that your home has become part of your lender's REO portfolio, instead of further alienating your lender with a hostile action perhaps you might consider appealing to your lender to rescind the foreclosure action and reinstate the loan.

        : Although prior payment history will most assuredly be considered, those most successful at getting the lender to overturn a foreclosure will be able to demonstrate why it might be in the lender's best interest to do so.

        : (1)



        • Posted by Reinstatement Services, Inc. on August 25, 2002 at 01:12:08:

          In Reply to: Do all states have this 12-month redemption period or does it vary? posted by Tinaj on August 23, 2002 at 20:26:26:

          : (0)



    • Posted by Tinaj on August 19, 2002 at 23:02:02:

      In Reply to: Please Help! posted by wilks on August 19, 2002 at 21:27:39:

      Seems to me the mortgage company has let this go on way too long without doing something.

      What does your attorney say? Does she/he have a good reputation? A background in real estate law?

      I don't know the answers to any of your questions, but someone else will. Only thing I do know is that you need copies of everything you can find, and you better look hard ... any correspondence, cancelled checks, money order copies, all that stuff. You can also do an internet search on foreclosure law in Alabama and see what you find. : (0)



  • Posted by DUKE WAINWRIGHT on August 19, 2002 at 19:03:45:

    I AM TRYING TO FIND A PRE-FORECLOSURE SERVICE PROVIDER THAT SELLS WEEKLY LISTINGS. PLEASE CALL ME ASAP 301-449-5712 OR 301-574-3281 THANKS!!! : (1)



    • Posted by christine on August 20, 2002 at 14:49:45:

      In Reply to: PRE- FORECLOSURE SERVICE PROVIDER S posted by DUKE WAINWRIGHT on August 19, 2002 at 19:03:45:

      : I AM TRYING TO FIND A PRE-FORECLOSURE SERVICE PROVIDER THAT SELLS WEEKLY LISTINGS. PLEASE CALL ME ASAP 301-449-5712 OR 301-574-3281 THANKS!!!

      : (0)



  • Posted by DUKE WAINWRIGHT on August 19, 2002 at 18:57:51:

    I AM TRYING TO FIND A PRE-FORECLOSURE SERVICE PROVIDER THAT SELLS WEEKLY LISTINGS. PLEASE CALL ME ASAP 301-449-5712 OR 301-574-3281 THANKS!!! : (5)



    • Posted by trel on August 19, 2002 at 19:57:14:

      In Reply to: PRE- FORECLOSURE SERVICE PROVIDER S posted by DUKE WAINWRIGHT on August 19, 2002 at 18:57:51:

      There are 3,048 counties in the United States.From which county are you seeking information?

      trel

      : (4)



      • Posted by Troy on August 27, 2002 at 17:40:11:

        In Reply to: Re: PRE- FORECLOSURE SERVICE PROVIDER S posted by trel on August 19, 2002 at 19:57:14:

        There are actually 3,066 counties in the United States as recorded by the National Assoc of Counties. (Just thought you may want to know, accurate info is the key to success.) : (2)



        • Posted by trel on August 28, 2002 at 17:17:56:

          In Reply to: Re: PRE- FORECLOSURE SERVICE PROVIDER S posted by Troy on August 27, 2002 at 17:40:11:

          The number 3,048 is something that has stuck in my head for the last 11 years.

          I don't doubt the NAC count. I however, must dealwith the consumers' perception of what is and what is not a county.

          Take Louisianna, (please!) If the consumer believes that Lafayette Consolidated Governmentis a county (even though we think it's a parish)we'll display it as a county.

          As a result, I show 3,140 counties in my database.

          trel : (1)

          • Posted by Admin on September 17, 2002 at 18:29:23:

            In Reply to: Re: PRE- FORECLOSURE SERVICE PROVIDER S Posted by trel on August 28, 2002 at 17:17:56:

            Nothing to do with the subject, just testing board functions.

            : (0)



      • Posted by tjs on August 19, 2002 at 22:55:47:

        In Reply to: Re: PRE- FORECLOSURE SERVICE PROVIDER S posted by trel on August 19, 2002 at 19:57:14:

        : There are 3,048 counties in the United States.: From which county are you seeking information?

        : trel

        that's funny! I suppose he would like you to alphabetize them, too, and then do some research on the "good" ones if you aren't too busy. Now hop to! : (0)



  • Posted by Virgil Walden on August 19, 2002 at 07:44:07:

    I moved to MN, put my house on the market in Alabama. I found it ti be cheaper to buy in MN than to rent, since I needed at least a 5 bedroom, so I bought a house in MN. The house in Alabamastill hasn't sold and these two mortgages are eating me aliveslowly, but surely. What are my alternatives, if any?Can I just let the mortgage company have the house in Alabama?Just call and tell them I can't afford the payments anymore?Any suggestions? If I continue with the two, I am goingto be in a real financial bind pretty soon. I figured thehouse would have sold by now, it is a 6 bedroom on 25 acres, witha stocked pond, work shop and dog kennels.

    You can also reply to virgil.walden@udlp.com : (1)



    • Posted by njdave on August 19, 2002 at 08:58:45:

      In Reply to: two mortgages posted by Virgil Walden on August 19, 2002 at 07:44:07:

      Any home will sell if properly priced, and reasonably exposed to the market. If your home hasn't sold, it's either overpriced, poorly exposed, or both.

      You've got to be proactive in this... or suffer the consequences. You'll need an agressive real estate broker. If you would like me to recommend a (local to you) national real estate brokerage with an affiliated office close to the Alabama property... email me privately.

      This doesn't have to be any more difficult thanyou allow it to become. : (0)

  • Posted by Danielle on August 18, 2002 at 18:14:36:

    My husband and I have a manufactured home in a mobile home park. We do not own the property that it is on. We rent the lot monthly. When the finance corporation goes to take the house back, is it foreclosure or repossession? Since there is no property (land) involved and the house is actually considered a motor vehicle (with title)is this considered to be repossession?

    Next question...How does this effect future credit rating (Foreclosure vs. repossession)? : (0)

  • Posted by Patti Hale on August 18, 2002 at 16:42:51:

    My elderly Dad held a $15,200 2nd TD behind a $63,000. 1st. Two months later the Borrower said he sold some property and paid $9,000 toward his loan. He insisted on writing a new note and trust deed. My Dad did as he was instructed and sent in his original documents.

    01/31/01, he received a $9,000 check from & faxed the escrow company & borrower 30 times inquiring the where abouts of his new note & recorded deed. He received no answers, no returned calls, nothing. Finally 5/21/01, he received the recorded deed.

    Months later I learned his signature was forged on the demand, 1st TD was refinanced & now totaled $79,100. The 1st foreclosed. Opening bid was $86,000, final bid $98,000.Will World Saving keep the excess $12,000. or will they apply it to my Dad's TD?

    The borrower was a crook. He pulled a different scam on 30 transactions stealing my parents savings. : (2)

    • Posted by Ward-CA- on August 18, 2002 at 21:43:03:

      In Reply to: Sold out junior Trust Deed posted by Patti Hale on August 18, 2002 at 16:42:51:

      : My elderly Dad held a $15,200 2nd TD behind a $63,000. 1st. Two months later the Borrower said he sold some property and paid $9,000 toward his loan. He insisted on writing a new note and trust deed. My Dad did as he was instructed and sent in his original documents.

      : 01/31/01, he received a $9,000 check from & faxed the escrow company & borrower 30 times inquiring the where abouts of his new note & recorded deed. He received no answers, no returned calls, nothing. Finally 5/21/01, he received the recorded deed.

      : Months later I learned his signature was forged on the demand, 1st TD was refinanced & now totaled $79,100. The 1st foreclosed. Opening bid was $86,000, final bid $98,000.Will World Saving keep the excess $12,000. or will they apply it to my Dad's TD?

      : The borrower was a crook. He pulled a different scam on 30 transactions stealing my parents savings.

      =•=•=•=•=•=•=•=•=•=•=•=

      Patti,

      If after all the machinations of the borrower your Dad still remained in 2nd position then he will be in line to receive from the foreclosing trustee the balance owed on his 2nd. That balance appears to be $6,200 ($15,200 - $9,000) plus some extra unpaid interest and late fees.

      You might have your Dad inquire of the Trustee when he could expect his part of the overbid.

      : (0)

    • Posted by Nick(Colorado) on August 18, 2002 at 18:10:25:

      In Reply to: Sold out junior Trust Deed posted by Patti Hale on August 18, 2002 at 16:42:51:

      Patti Hale:

      Little hard to determine from your post where the extra 12Kmight go. I think that the first thing you should do isgo to the recorders offset and see the precedence of the liens. If you are now in the second position you should be able to get satisfaction for the outstanding 6K from the over bid. This might be a path of lower resistance that getting an attorneyto overturn the sale based on the forged signature.

      : (0)

  • Posted by Jen on August 18, 2002 at 16:02:37:

    My husband just left me with two small children and no income. He is planning on letting the house get foreclosed on. Is forclosure better than bankruptcy? I am wondering what my options are. : (2)



    • Posted by Joseph Aman on August 19, 2002 at 14:23:09:

      In Reply to: Stay at home mom stuck with house posted by Jen on August 18, 2002 at 16:02:37:

      : My husband just left me with two small children and no income. He is planning on letting the house get foreclosed on. Is forclosure better than bankruptcy? I am wondering what my options are.

      I am looking to take over a home mortgage if your interested call me at home 561-582-9463 i am moving to the colorado area next week : (1)



      • Posted by TinaJ on August 19, 2002 at 19:02:23:

        In Reply to: Re: Stay at home mom stuck with house posted by Joseph Aman on August 19, 2002 at 14:23:09:

        NO matter what happens with the house, he still has a legal obligation to support your children, and possibly you, too, for a while. I got alimony for a short time after my divorce, mostly because I worked full-time while the ex went to graduate school.

        You need an evil lawyer. Offhand I'd say that if your ex doesn't care if your children have a place to live or not, he isn't terribly concerned about seeing that they have food or clothing either. Don't waste any time finding an attorney. Does your husband have a job? Self employed or salaried? : (0)

  • Posted by Barb on August 18, 2002 at 09:00:18:

    Could someone please tell me how to go about looking into purchasing a house that is being sold for back taxes? I heard the term "sheriffs sale"???? : (3)

    • Posted by Damian Adams on November 06, 2002 at 14:41:13:

      In Reply to: SHERIFF'S SALE ON HOMES?? Posted by Barb on August 18, 2002 at 09:00:18:

      : Could someone please tell me how to go about looking into purchasing a house that is being sold for back taxes? I heard the term "sheriffs sale"????



      : (0)



    • Posted by abdul khan jabar on August 25, 2002 at 21:15:31:

      In Reply to: SHERIFF'S SALE ON HOMES?? posted by Barb on August 18, 2002 at 09:00:18:

      : Could someone please tell me how to go about looking into purchasing a house that is being sold for back taxes? I heard the term "sheriffs sale"????

      : (0)

    • Posted by njdave on August 18, 2002 at 09:48:54:

      In Reply to: SHERIFF'S SALE ON HOMES?? posted by Barb on August 18, 2002 at 09:00:18:

      Dorothy, you've always had the opportunity to learn the answer to your question..

      All you have to do is commit some time to read the applicable posts on this, and other boards.

      Try this Site, too: http://hammer.prohosting.com/~taxsale/board/board.html : (0)

  • Posted by patricia rushing on August 18, 2002 at 06:36:39:

    I have recently remarried. Now we have 2 homes in different cities. We can afford only 1 and are too far away to rent other. Tried to sell but market is depressed and cannot afford to wait 6mo - year to sell. Is deed-in-lieu of foreclosure option. I just heard of it and do not understand...HELP : (1)

    • Posted by njdave on August 18, 2002 at 08:47:08:

      In Reply to: explain deed in lieu of foreclosure posted by patricia rushing on August 18, 2002 at 06:36:39:

      To avoid a lengthy and expensive foreclosure process, a foreclosing lienholder might agree to allow you to simply convey your ownership interest to the bank/lienholder as payment in full. It would be your act of "deeding the property to the bank in lieu (instead) of (them paying for) foreclosure procedings"

      However, this option is only considered in certain situations...You must have exhausted all efforts to sell the home (professionally marketed at it's as-is, fair market value) and you must demonstrate that you don't have the resources to make the monthy payment... or make up the difference between the sale price and what is owed.

      A DIL is an unlikely event.

      Any property properly priced and exposed to the market should sell quickly.

      Sounds like you may need a preapproved short sale.

      Visit the link below for a nonprofit resource.

    • non profit resource
    : (0)
  • Posted by frankie on August 18, 2002 at 01:48:48:

    I made probably the worst financial decision when we decided to buy our house 2 years ago. With my husband lost his job twice and the money we spent for the house care we are now in debt. We are thinking about selling the house but because of the fact that we have only had the mortgage for two years and we only put about 3% for the dp of the housewe may end up losing quite a bit of money which we can no longer afford. What are the alternatives for us? If the only disadvantages of foreclosuring is a bad credit report it really is not our concern for now because we may be moving out of the country for good in about 2 years. What is the approximate amount of money that we may spend if our house was $146000 when we purchased it if we decide to foreclose it? Thank you very much for any help. : (0)

  • Posted by hope on August 17, 2002 at 21:27:58:

    How do i find out about the forclosure laws in Texas with out having to see an attorney? : (1)

    • Posted by Ward-CA- on August 18, 2002 at 00:17:46:

      In Reply to: forclosure law's in Texas posted by hope on August 17, 2002 at 21:27:58:

      : How do i find out about the forclosure laws in Texas with out having to see an attorney?

      ===============

      Hope,

      Go to your local law library and ask the reference librarian for help in locating the foreclosure law in TX. Take a handful of quarters to copy the law while you're there. : (0)

  • Posted by Tom - UT on August 17, 2002 at 19:23:18:

    If I sell my house prior to foreclosure and get enough to payoff the first but not enough to pay off the 2nd would I a)be able to sell it in the first place b) have to get short sale approval from the 2nd mortgage holder. : (3)

    • Posted by TheShortSalePro on August 18, 2002 at 08:38:19:

      In Reply to: Short Sale with 2nd in place posted by Tom - UT on August 17, 2002 at 19:23:18:

      would I be able to sell it in the first place,and b) have to get short sale approval from the 2nd mortgage holder.

      Yes, you could sell, but without a preapproved short sale you would have to bring cash to the table to satisfy the 2nd. : (2)



      • Posted by Tom - UT on August 19, 2002 at 09:20:03:

        In Reply to: Re: Short Sale with 2nd in place posted by TheShortSalePro on August 18, 2002 at 08:38:19:

        : would I be able to sell it in the first place,: and b) have to get short sale approval from the 2nd mortgage holder.

        : Yes, you could sell, but without a preapproved short sale you would have to bring cash to the table to satisfy the 2nd.

        : Thanks for the quick answer. So I guess I need to talk with the holder of my second and get their approval prior to a sale. Are there any special issues I should look for in working with them or is it all pretty straightforward? : (1)



        • Posted by TheShortSalePro on August 19, 2002 at 12:32:17:

          In Reply to: Re: Short Sale with 2nd in place posted by Tom - UT on August 19, 2002 at 09:20:03:

          You'll have to do more than 'talk' to your mortgagee. The application process will require that you complete financial disclosures, and make application and qualify for specific relief. Depending upon your luck at negotiating a short sale, you might be able to walk away.. owing nothing further (except a possible tax exposure to liability) or you may be asked to pay the difference over time via an unsecured note.

          Any listing agreement or contract for sale should state that any sale is subject to mortgagee's written short sale approval at terms and conditions agreeable to you (the Seller) or you could find yourself sued for specific (contractual)performace &/or Realtor's fees. : (0)

  • Posted by Hope on August 17, 2002 at 04:14:30:

    Own timeshare can't afford it any more. Owe to much to sell. How will this affect me. What can they do. : (6)

    • Posted by Ward-CA- on August 17, 2002 at 20:19:00:

      In Reply to: can't afford posted by Hope on August 17, 2002 at 04:14:30:

      : Own timeshare can't afford it any more. Owe to much to sell. How will this affect me. What can they do.============

      Hope,

      The lender goes through the same foreclosure routine for a timeshare as they would for any other property secured by a trust deed or mortgage.

      So the foreclosure will affect you just the same too. That means a foreclosure scar against your credit record for about 7 years.

      If the foreclosure laws in your state permit the lender to go after you for a deficiency judgment, once they have finally disposed of your timeshare, then they might elect to do that.

      Good luck to you. : (5)



      • Posted by Trinity on August 20, 2002 at 20:53:38:

        In Reply to: No easy answer... posted by Ward-CA- on August 17, 2002 at 20:19:00:

        : : Own timeshare can't afford it any more. Owe to much to sell. How will this affect me. What can they do.: ============

        : Hope,

        : The lender goes through the same foreclosure routine for a timeshare as they would for any other property secured by a trust deed or mortgage.

        : So the foreclosure will affect you just the same too. That means a foreclosure scar against your credit record for about 7 years.

        : If the foreclosure laws in your state permit the lender to go after you for a deficiency judgment, once they have finally disposed of your timeshare, then they might elect to do that.

        : Good luck to you.

        Have you tried to sell off your portion of the time share? It seems the effort of trying to sell it is better than 7 years of credit damage.A here's a free bullitin board to list your property at. www.propertyexchangeusa.com : (2)



        • Posted by Reinstatement Services, Inc. on August 21, 2002 at 13:41:08:

          In Reply to: Re: No easy answer... posted by Trinity on August 20, 2002 at 20:53:38:

          Awesome answer. Thanks for being willing to give it another shot.

          I respect that. : (0)



        • Posted by njdave on August 21, 2002 at 08:04:01:

          In Reply to: Re: No easy answer... posted by Trinity on August 20, 2002 at 20:53:38:

          I know nothing about timeshares, but your answer seemed informative, on point, and not a blatant solicitation. Terrific. : (0)



      • Posted by Trinity on August 20, 2002 at 20:53:32:

        In Reply to: No easy answer... posted by Ward-CA- on August 17, 2002 at 20:19:00:

        : : Own timeshare can't afford it any more. Owe to much to sell. How will this affect me. What can they do.: ============

        : Hope,

        : The lender goes through the same foreclosure routine for a timeshare as they would for any other property secured by a trust deed or mortgage.

        : So the foreclosure will affect you just the same too. That means a foreclosure scar against your credit record for about 7 years.

        : If the foreclosure laws in your state permit the lender to go after you for a deficiency judgment, once they have finally disposed of your timeshare, then they might elect to do that.

        : Good luck to you.

        Have you tried to sell off your portion of the time share? It seems the effort of trying to sell it is better than 7 years of credit damage.A here's a free bullitin board to list your property at. www.propertyexchangeusa.com : (0)



      • Posted by Trinity on August 20, 2002 at 20:53:17:

        In Reply to: No easy answer... posted by Ward-CA- on August 17, 2002 at 20:19:00:

        : : Own timeshare can't afford it any more. Owe to much to sell. How will this affect me. What can they do.: ============

        : Hope,

        : The lender goes through the same foreclosure routine for a timeshare as they would for any other property secured by a trust deed or mortgage.

        : So the foreclosure will affect you just the same too. That means a foreclosure scar against your credit record for about 7 years.

        : If the foreclosure laws in your state permit the lender to go after you for a deficiency judgment, once they have finally disposed of your timeshare, then they might elect to do that.

        : Good luck to you.

        Have you tried to sell off your portion of the time share? It seems the effort of trying to sell it is better than 7 years of credit damage.A here's a free bullitin board to list your property at. www.propertyexchangeusa.com : (0)

  • Posted by Terry Guy on August 16, 2002 at 19:12:42:

    How do you take a Tax Lien property to foreclosure? : (1)

    • Posted by njdave on August 17, 2002 at 17:42:19:

      In Reply to: Tax Lien posted by Terry Guy on August 16, 2002 at 19:12:42:

      Your question is kinda broad, and the laws and customs vary from state to state..but I would think that if you held a municipal tax lien (certificate) that went unredeemed for the prescribed term.. you (as lienholder) would file a lawsuit in foreclosure...

      The process will depend upon the laws and customs of your state. : (0)

  • Posted by Virgil Walden on August 16, 2002 at 13:39:59:

    Hello, I have a home in Alabama, it is a 6 bedroom 3 bath, builtin 2000. It is on 25 acres with a stocked pond, workshop, andkennels. My oldest daughter and her husband are staying there right now. I took a job in MN and moved up here with my wife and four of mychildren. We found it was cheaper to buy than rent up here, since Ineeded 5 bedrooms and a place I could have pets. I pay $1500+ hereand $1700+ in Alabama and it is about to drive me intoBankruptcy. I don't want to do that because I had a Chap 13 in 1996 andit has been discharged since May 2000. I don't want to do thatagain. I have been trying to sell the place since I have been uphere, but there is not much of a market for 6 bedrooms and 25 acres. Plusthere is no real road frontage. It sits off the road and I have an accessfrom two different streets. The other problem is there arehouses around of lesser value and trailers, which you would expectin the county anyway, but this is not a selling plus to some.I have had to pay double mortgages for over 15 months and I am notgoing to be able to do this much longer, something is going to haveto give. I even tried refinancing the house in AL, because of lower rates. I had a first for the house + 1 acre and a 2ndwhich was an ARM for the 24 acres and it was expiringin May 2002 and the rate was going up up. I refinanced,got a firts at 7.25, but the 2nd is still high and my paymentis actually more than it was to start with (not much, but morenone the less). The house in AL is with a Realtor andmy dealings with them expires in October. I want to selland get out from under the two mortgages, before things getreally bad. I love the place, and if I could swing it,I would just go back there, because up here the taxes arehigh and I am living in a subdivision, which I hate (no breathing room)and no privacy. Believe me with the 25 acres I had privacy, andchannel catfish to boot, my own hunting/fishing; whatever.....I am about to convince myself to go back, but the wifeand kids like it here and they like the schools..Bottom line I need to sell quick or do something. Please email me if you havea suggestion. Thanks

    Virgil Walden

    vwalden@aol.comvirgil.walden@udlp.com : (1)

    • Posted by Tinaj on August 16, 2002 at 20:48:11:

      In Reply to: Two houses..one in Alabama...one in Minnesota posted by Virgil Walden on August 16, 2002 at 13:39:59:

      You said you would like to go back to Alabama - I live in the south too and can understand liking your privacy and space - so I assume you could get a job there too.You have two houses. You can't afford two houses. Put them both on the market. If the one in Alabama sells first, then you can afford the house in MI. If you want to sell it and move back, you can do that later on.

      That's just my humble 2 cents' worth here. Bottom line - you can't afford two houses, so you have to get rid of one of them. Depending on your relationship with the realtor in Alabama, you could tell them your situation, tell them you hope to sell the house in MI first, and ask if they'd keep the house in AL listed on a month-by-month basis or something.

      If the house in MI sells first, so much the better, you can go back to Alabama. : (0)

  • Posted by Norma Thiem on August 16, 2002 at 09:01:50:

    If there is not enough money from the sale of the foreclosed property to pay off first and second mortgages what happens to the money remaining due. Is it wiped out or will I have to pay that? I live in the state of Nebraska : (1)

    • Posted by Reinstatement Services, Inc. on August 16, 2002 at 10:26:24:

      In Reply to: Foreclosure posted by Norma Thiem on August 16, 2002 at 09:01:50:

      If the sale does not produce enough proceeds to clear the debt then you risk exposure to deficiency judgment. A mortgagee must file a separate action independent of the foreclosure action in order to obtain a DJ.

      More interesting, however, is your right to a stay of execution during the foreclosure process. You may be entitled to a stay of up to 9 months.

      : (0)

  • Posted by Chuck Hastings on August 14, 2002 at 23:07:01:

    I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me! : (8)



    • Posted by Once a HomeOwner - Facing Foreclosure on August 20, 2002 at 17:46:56:

      In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:



      Beware! It is so unforfunate that so many of us are facing "financial hardships" and still we get scammed out of our misfortunes. Banks foreclose our homes, scam artists claim they can help us to stop foreclosing and repair our bad credits. The government keeps on ignoring its middle class hard working Americans. When Americans face a financial overload, financially stuck, financially misfortunates, bankruptcies, still we have to pay for every breath we take. Our freedom here means "That we can drive across the country without being restricted" but there is no freedom in financial breakdown.

      Dec 06, 2001 (M2 PRESSWIRE via COMTEX) -- Attorney General J. Joseph Curran, Jr. announced today that his Consumer Protection Division ordered a Baltimore company to cease offering illegal credit repair and foreclosure assistance services in violation of Marylands Consumer Protection Act and Credit Services Businesses Act. The company and its officers were also ordered to pay restitution to all consumers harmed, as well as a $500,000 penalty

      http://yhlib.northernlight.com/AbServ?p=%22foreclosure%22&b=47&cbrecid=FB20011206980000137

      : I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me!

      : (0)

    • Posted by trel on August 16, 2002 at 12:10:43:

      In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:

      "I have noticed for you..." What?

      Sounds like some kind of static letter you mailout. Just who did you notice is in foreclosure?

      Individuals can repair their own credit withoutcost or phoney-baloney programs.

      But since your program is "legal," and "it works,"why don't you tell us all about it?

      trel : (1)

      • Posted by TinaJ on August 16, 2002 at 22:13:50:

        In Reply to: What kind of crap are YOU selling? posted by trel on August 16, 2002 at 12:10:43:

        and you use that instead of your SSN. Might work except, goshdarnit, that's illegal. Someone should Email him and see what he says, then turn him in before he sucks in some unsuspecting person. Either that or I was right in the first place, and he still believes in Santa Claus and/or the Easter Bunny. And the tooth fairy can fix credit, too. : (0)

    • Posted by Diana Macek on August 16, 2002 at 11:25:16:

      In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:

      : I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me!

      : (3)



      • Posted by oinette m. roberts on August 19, 2002 at 15:40:55:

        In Reply to: Re: Credit repair posted by Diana Macek on August 16, 2002 at 11:25:16:

        : : I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me!

        : (2)



        • Posted by Tina J on August 19, 2002 at 19:04:20:

          In Reply to: Re: Credit repair posted by oinette m. roberts on August 19, 2002 at 15:40:55:

          What's the name of this company?

          How much does this process cost?

          What exactly do they do?

          : (0)



        • Posted by Tina J on August 19, 2002 at 19:03:28:

          In Reply to: Re: Credit repair posted by oinette m. roberts on August 19, 2002 at 15:40:55:

          : : : I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me!

          : (0)

    • Posted by tinaj on August 15, 2002 at 19:28:45:

      In Reply to: Credit repair posted by Chuck Hastings on August 14, 2002 at 23:07:01:

      : I have noticed for you that are in Foreclosure, you are concerned about damaging your credit anymore than it is now. However, your in Foreclosure and some of you have even filed Bankruptcy to try to save your homes. Even your other loans and credit cards are behind and late. You say my credit is shot! What can I do? I was in the exact same situation some years back and with lot's of research, found a company to help me repair my credit reports legally. It works folks! So it's not the end of the road some of you, if you use the system to work in your favor. I would be happy to share this info with you and help you to have the same results. Email me!

      : (0)

  • Posted by Keith on August 14, 2002 at 12:04:30:

    I'm trying to learn about foreclosures and haven't seen these questions addressed elsewhere on the site. thanks for the web site and any answers.

    I'm following a foreclosure home in Ohio to learn about the process. I'm interested in it, but I've never done this before and its out of my price range at this point, but nevertheless a good learning experience. I've done some prelim resch and the owner owes $30000 to the IRS. If I had the funds, I think I could buy the house at sheriff's sale (or presale) 1/2 price and pay off their IRS debt, and still make a profit (after fixup, real estate agent, etc..). I'd have to pay it off since the IRS can take the house anyway with that debt, right? My question is, what are all the caveat emptors (buyer beware) in this kind of situation? Am I taking a risk of losing my capital in this kind of situation? Anyone with experience done this before? Are there any other techniques I'm missing?

    Is it possible they have other debts with the state govt that aren't in the public record or debts in their business that could cause issues down the road with the property? (I checked and the real estate taxes are up to date). I checked the public record and

    What if they file bankruptcy? Could they then lock up my capital and get the house back and I'm stuck with paying off their IRS debt? That would get messy. : (0)

  • Posted by K. Lysik - RSI on August 14, 2002 at 10:19:42:

    Joe, why are you using soooooo many aliases on this board?Are you on the lamb? Or, are you preparing to be?

    Would you please identify your aliases. So far I count at least 3. Are you also ForeclosureVictims.net?

    What exactly is your speciality? Do you fund loans? Do you mediate workouts? Are you an investor? Or a jack of all trades and a master of...well, you know the rest?

    : (13)

    • Posted by anxious Larry on August 14, 2002 at 13:59:26:

      In Reply to: Question for Joe posted by K. Lysik - RSI on August 14, 2002 at 10:19:42:

      I was wondering the same thing. I have a problem with my mortgage and came across this board. I've read a lot of the posts but I can't tell if many of these outfits are one in the same. I go to the sites and they don't even give me a number with a live person. They're heavy on the sale and light on the information. You and some of the others have done pretty good. I guess I'm just suspicious about this whole process. These other characters don't do anything to ease my mind. stopforeclosure2 - stop foreclosure second? what's the first thing? foreclosurevictim.net - are they looking for victims because they know we're vulnerable? the trinity counsel - does it take three of them to get me an answer? america's freedom fighters - do they know we're talking about foreclosure and not equal rights? new vision - are they looking to test run their ideas at my expense?

      I don't know who to trust. My house is going up for sale in the next couple of weeks. Can a legitimate company give me some advice? I live in Indiana. Bankruptcy was discharged. I owe more than the house can bring. I want to know can they come after me for the rest. If they can. How much damage can they do? : (12)

      • Posted by Bob H on August 15, 2002 at 02:57:13:

        In Reply to: Re: Question for Joe posted by anxious Larry on August 14, 2002 at 13:59:26:

        Hi Larry,I not any of the entities you've mentioned above, and I can't think of anything I would like to try and sell you right now, but here's the short answer to your question:

        If you listed your mtg. co(s) on your BK, they cannot pursue you for a deficiency balance - you have no further personal liability on the loan(s).

        The worst that can happen is they can send you a 1099, declaring the deficiency as taxable ordinary income to you. However, since you were conveniently insolvent at the time of your foreclosure, that "income" may very well be exempt from taxation. Call a good CPA and quit worrying.

        BTW, I'm thinking of "equityvultures.com" for my website if I ever get one - kinda has a nice, confidence-inspiring ring to it, don't you think? : (4)

        • Posted by tinaj on August 17, 2002 at 12:45:15:

          In Reply to: Re: Question for Joe posted by Bob H on August 15, 2002 at 02:57:13:

          Be sure to include a religious tie=in on there. Like the guy who posts here that he prays that he can find a way to steal your equity - Gosh darn it, that was a typo. He prays he can help people, of course. I must need a new computer.

          Of course, you will want a circling vulture as your logo. : (0)

        • Posted by anxious Larry on August 15, 2002 at 12:08:23:

          In Reply to: Re: Question for Joe posted by Bob H on August 15, 2002 at 02:57:13:

          : Hi Larry,: I not any of the entities you've mentioned above, and I can't think of anything I would like to try and sell you right now, but here's the short answer to your question:

          : If you listed your mtg. co(s) on your BK, they cannot pursue you for a deficiency balance - you have no further personal liability on the loan(s).

          : The worst that can happen is they can send you a 1099, declaring the deficiency as taxable ordinary income to you. However, since you were conveniently insolvent at the time of your foreclosure, that "income" may very well be exempt from taxation. Call a good CPA and quit worrying.

          : BTW, I'm thinking of "equityvultures.com" for my website if I ever get one - kinda has a nice, confidence-inspiring ring to it, don't you think?--------------I didn't include my house. I was hoping to save it but unexpected medical bills came up. Now what?

          : (0)

        • Posted by njdave on August 15, 2002 at 07:06:19:

          In Reply to: Re: Question for Joe posted by Bob H on August 15, 2002 at 02:57:13:

          Especially the suggestion to 'quit worrying'. : (1)

          • Posted by Tinaj on August 15, 2002 at 19:31:30:

            In Reply to: Re: Good answer posted by njdave on August 15, 2002 at 07:06:19:

            : Especially the suggestion to 'quit worrying'.

            For shame on us! But now there is somebody @ the top named Chuck who can do "Legal credit repair" with just his little secrets! Maybe Joe underwent a name change. : (0)

      • Posted by Reinstatement Services, Inc. on August 14, 2002 at 14:35:08:

        In Reply to: Re: Question for Joe posted by anxious Larry on August 14, 2002 at 13:59:26:

        I understand your hesitance. Tell you what, Larry. I'll give the others you've mentioned a chance to respond before I jump in. If a response hasn't been posted by tomorrow then I will answer your questions.

        Better yet, I'll email you privately right now, and then post the formal response tomorrow night if the others you've listed can't come up with a detailed answer to your questions. To get them started, we know that Indiana allows for deficiency judgment. What are the specific parameters regarding the judgment that might concern Larry? : (6)

        • Posted by Reinstatement Services, Inc. on August 14, 2002 at 15:10:04:

          In Reply to: Larry...don't be anxious posted by Reinstatement Services, Inc. on August 14, 2002 at 14:35:08:

          : (5)

          • Posted by anxious Larry on August 14, 2002 at 15:47:08:

            In Reply to: Larry, the email bounced back...please provide corrected email address [nt]. posted by Reinstatement Services, Inc. on August 14, 2002 at 15:10:04:

            That was my old email. This one works. : (4)

            • Posted by Reinstatement Services, Inc. on August 15, 2002 at 22:28:42:

              In Reply to: Sorry. posted by anxious Larry on August 14, 2002 at 15:47:08:

              Larry, where are all of the people who were so anxious to offer help? I know they are around. They have made postings to this and other boards today.

              Note to troubled homeowners - Desperation should NEVER take the place of common sense. Do not be afraid to test the people who claim that they can help (including RSI). If they can, then they will be able to demonstrate a certain level of understanding and specifically prepare you for possible pitfalls that might bring problems in the future.

              Note to self-acclaimed foreclosure 'fix-it' specialists - It is so not about stamping out the competition... I enjoy reading other opinions and being presented with varying perspectives. I encourage you to continue posting.

              What it comes down to is an acceptance of our responsibility as 'experts' to these homeowners who come to us in distress and seeking help. More than one million Americans will be faced with foreclosure in the upcoming year. Every year the number increases. Don't you think that you OWE it to these people you're soliciting to be at the top of your game and not just out to hustle a dollar? Understand you are playing with lives. Would you want yours treated in such a cavalier manner? -------

              Based upon the information you have provided, Larry, your concern about deficiency judgment is valid. Although many lenders choose not to go this route, the action is gaining in popularity.

              IN law allows for DJ. Other property [real estate and personal] of the homeowner can be levied and sold to satisfy the debt. This could also include garnishment of wages. Additionally, interest is allowed on judgments at a rate of 8% per annum.

              I would encourage you to work with your lender towards resolution. Try what's free first. If your efforts do not yield positive results then solicit outside assistance. Ion in case, the route you choose to take should provide you with maximum results for the least amount of cash outlay.

              My best to you.

              ----Special thanks to Jim V, NJDave, TinaJ, and Bob H...for your insight and commitment.



              : (3)

              • Posted by TinaJ on August 16, 2002 at 20:35:22:

                In Reply to: VERY INTERESTING. posted by Reinstatement Services, Inc. on August 15, 2002 at 22:28:42:

                MUST be having technical difficulties with just this board or they'd be here trying to peddle their junk - OOPS! TYPO! I meant, help people out -- again.

                I think we ran 'em off really. Or maybe Joe had so many people to help, what with charging them $50 to mail out documents and all, he had to spend the past few days at the post office? : (0)

              • Posted by anxious Larry on August 16, 2002 at 15:50:40:

                In Reply to: VERY INTERESTING. posted by Reinstatement Services, Inc. on August 15, 2002 at 22:28:42:

                Thanks for your answers. You've been a great help. Now I've got to figure out how to stop this foreclosure because it isn't going to get any better letting things go. Expect a call. I really hope you can help. : (1)

                • Posted by TinaJ on August 16, 2002 at 20:43:12:

                  In Reply to: Re: VERY INTERESTING. posted by anxious Larry on August 16, 2002 at 15:50:40:

                  I have been visiting this board for about a year now and I have seen people post here that RSI helped them. I remember a specific case after 9/11 where RSI donated free services to somebody. For what it's worth, I think you'll be able to get help from them. Just thought I'd throw that out there, since the board has been overrun with con artists (at least in my opinion) here lately. Good luck. : (0)

  • Posted by Denny on August 13, 2002 at 14:02:24:

    What is a 'in rem deficiency judgement' as it relates to foreclosure on income property?

    What are borrower's recourse and liabilities? : (1)

    • Posted by Reinstatement Services, Inc on August 13, 2002 at 17:41:57:

      In Reply to: Defiency judgements posted by Denny on August 13, 2002 at 14:02:24:

      meaning, against a thing - a property itself rather than an individual owning a property.

      In which case, if you told me that your lender was granted a Judgement in rem, this would accurately be interpreted as meaning:

      Your lender could not collect on a past due loan from you so through a court action your lender secures a judegment in rem against other assests you might own- such as real property, which legally causes a lien against that property. : (0)

  • Posted by pearl on August 13, 2002 at 09:15:12:

    I'm renting off of my in-laws, and the home we're living in is being foreclosed on. How much time do we have before we have to move? Do we have to leave everything in the house, such as stove, refrigerator, washer and dryer? Any help or information would be greatly appreciated. : (1)

    • Posted by Ward-CA- on August 13, 2002 at 09:56:25:

      In Reply to: renter, home foreclosure posted by pearl on August 13, 2002 at 09:15:12:

      : I'm renting off of my in-laws, and the home we're living in is being foreclosed on. How much time do we have before we have to move? Do we have to leave everything in the house, such as stove, refrigerator, washer and dryer? : Any help or information would be greatly appreciated.

      =•=•=•=•=•=•=•=•=•=•=

      Pearl,

      Most states will require that the foreclosing entity or the winning bidder serve you a formal, written notice to vacate. Generally they’ll give a tenant, such as you, more time to be out than the previous owner.

      The foreclosure will only affect the real property, NOT the moveable, personal property within the house such as appliances that aren’t permanently attached or built-in.

      Hope this helps. : (0)

  • Posted by richard on August 13, 2002 at 03:14:23:

    Do any of the services also follow the psostponments or do have to follow them on our own. : (1)

    • Posted by Ward-CA- on August 13, 2002 at 09:58:53:

      In Reply to: postponments posted by richard on August 13, 2002 at 03:14:23:

      : Do any of the services also follow the psostponments or do have to follow them on our own.

      ==================Some will charge you for an ongoing list of postponements, but it's best if you kept track of them yourself for the timeliness factor. : (0)

  • Posted by Rea on August 12, 2002 at 18:45:22:

    I am currently 2 months behind with my mortgage payments. Can my home be forclosed? : (13)

    • Posted by american foreclosure freedom on August 13, 2002 at 11:54:23:

      In Reply to: forclosure posted by Rea on August 12, 2002 at 18:45:22:

      : : I am currently 2 months behind with my mortgage payments. Can my home be forclosed?

      Yes your house can be repossesed. Need to know more information on your situation. I work for a mediation company that specializes in work-out options on the delinquent amount you owe the bank. Early intervention is your best bet. Please visit our website at www.americanforeclosurefreedom.com or call our toll free number at 1(866) 395-0324 and push pin number 5750

      Thank you : (6)

      • Posted by Jim V on August 13, 2002 at 16:14:54:

        In Reply to: Re: forclosure posted by american foreclosure freedom on August 13, 2002 at 11:54:23:

        This site has a "no ads" policy for the board. Informative answers with a link to a different site are allowed. Not including an e-mail address as part of your post and blatant disregard for board policy indicates to me that you are far more interested in obtaining clients rather than providing information for those who need it.

        I did not see one place on your site where a person could either obtain preliminary information or request it. The two choices are fill out the form or call the provided phone number and punch in the "pin".

        All together, it tells me your company would be one of the last ones I would ever recommend to someone needing assistance. : (1)

        • Posted by TinaJ on August 13, 2002 at 22:34:07:

          In Reply to: Re: Why I wouldn't use your service. posted by Jim V on August 13, 2002 at 16:14:54:

          I had to look at his site. Curiosity.... : (0)

      • Posted by njave on August 13, 2002 at 12:49:30:

        In Reply to: Re: forclosure posted by american foreclosure freedom on August 13, 2002 at 11:54:23:

        The quality of service you offer notwithstanding.... you should proof read your web site's home page for punctuation... for you can only make one first impression. : (3)

        • Posted by Tinaj on August 13, 2002 at 16:08:43:

          In Reply to: Re: you oughta proof read your web site's home page posted by njave on August 13, 2002 at 12:49:30:

          : The quality of service you offer notwithstanding.... you should proof read your web site's home page for punctuation... for you can only make one first impression.

          hey, I thought I wrote that post - sounds like something I'd say! : (2)



          • Posted by njdave on August 19, 2002 at 18:23:23:

            In Reply to: Re: you oughta proof read your web site's home page posted by Tinaj on August 13, 2002 at 16:08:43:

            Here it is about one week later, and they still haven't fixed the error on their web page. So much for attention to details..... or mastering spell &/or grammar check. : (1)



            • Posted by TinaJ on August 19, 2002 at 19:05:22:

              In Reply to: Re they are not so big on 'attention to detail...' posted by njdave on August 19, 2002 at 18:23:23:

              Either that, or they don't know HOW to fix the errors on their website, or the attorney general in their state already got after them! : (0)

    • Posted by Joe on August 13, 2002 at 00:56:51:

      In Reply to: forclosure posted by Rea on August 12, 2002 at 18:45:22:

      : : I am currently 2 months behind with my mortgage payments. Can my home be forclosed?

      There may be a way to reinstate your mortgage.Please send me an e-mail for details.Joe at jd53@attbi.com

      If you send an e-mail to the following address you will find additional information.joeda@netmarkmail.com : (1)

      • Posted by njdave on August 13, 2002 at 10:53:35:

        In Reply to: Prevent Foreclosure posted by Joe on August 13, 2002 at 00:56:51:

        Joe, Rea doesn't state that her mortgage loan is in default... so your recommendation that a 'reinstatement' is possible with your help may be premature.

        If Rea's loan is 2 months past due, she should contact her lender and seek an affordale repayment option to bring her account current.

        If financial circumstances are such that she cannot afford to keep the house... she should consider other, non-foreclosure alternatives.

        Typically, a lender initiates foreclosure after an account is 90 days past due... and attempts to resolve the delinquency are unsuccessful.

        As we know, foreclosure laws and customs differ from state to state... and we really don't know enough about her particular set of circumstances to offer any, specific suggestions.

        She may already be in a forbearance &/or bankruptcy repayment plan... and if that's the case and she has missed two payments... then foreclosure is an acute possibility... we just don't know. : (0)

    • Posted by rea on August 12, 2002 at 20:50:14:

      In Reply to: forclosure posted by Rea on August 12, 2002 at 18:45:22:

      : : I am currently 2 months behind with my mortgage payments. Can my home be forclosed?

      : (3)

      • Posted by shaun on August 12, 2002 at 23:45:29:

        In Reply to: Re:I'm late on my payments posted by rea on August 12, 2002 at 20:50:14:

        : : : : I am currently 2 months behind with my mortgage payments. Can my home be forclosed?

        yes it can play it safe catch up on your house note. i ve been there/// : (1)

      • Posted by shaun on August 12, 2002 at 23:41:00:

        In Reply to: Re:I'm late on my payments posted by rea on August 12, 2002 at 20:50:14:

        : : : : I am currently 2 months behind with my mortgage payments. Can my home be forclosed?

        : (0)

  • Posted by Sue on August 12, 2002 at 17:15:50:

    My home will be sold on the "court house steps" according to the bank, this happens next month due to foreclosure. Is there anyone who can tell me how long we have to vacate the house. : (2)

    • Posted by Reinstatement Services, Inc. on August 12, 2002 at 17:57:48:

      In Reply to: Foreclosure on home posted by Sue on August 12, 2002 at 17:15:50:

      Because foreclosure laws and practices vary from state to state and lender to lender, we would first want to know which state the property is located.

      The type of loan you have might also play a significant role in determining what type of workouts may be available that will assist you in retaining your property.

    • Default and Foreclosure Solutions
    : (0)
  • Posted by Sue on August 12, 2002 at 17:12:39:

    My husband and I are being forclosed on by the bank next month, due to his losing his job. Can you tell me how long we have to leave the home once it is sold? The term they using is that it will go on sale on the court house steps........if this helps. : (2)

    • Posted by New Vision Properties on August 14, 2002 at 10:07:37:

      In Reply to: Foreclosure next month posted by Sue on August 12, 2002 at 17:12:39:

      : My husband and I are being forclosed on by the bank next month, due to his losing his job. Can you tell me how long we have to leave the home once it is sold? The term they using is that it will go on sale on the court house steps........if this helps.

      Please give us a call , we may be interested in buying your house.

      New Vision Propertieswebynsell@aol.com(817) 444 -0123office hours 8am - 8 pm c.s.t : (1)

      • Posted by tinaj on August 16, 2002 at 22:18:23:

        In Reply to: Re: Foreclosure next month posted by New Vision Properties on August 14, 2002 at 10:07:37:

        I just remember when we signed our mortgage it said if unpaid for so many days, on and on and on, the property would be sold on the NORTH courthouse steps! I thought specifying which set of steps was pretty funny. That's where they post foreclosure sale notices, too, on the north door of the courthouse. I see them when I go get car tags, etc.

        If your husband is out of work, have you considered other options? Have you tried a workout with your lender? If you've had the loan a while and have a good payment history, that's a definite possibility. Ch 13 will also stop foreclosure, but of course you have to be able to pick up your payments in the future and stay current.Meanwhile, post again and tell the experts here what state you live in and the precise sale date you have. I believe how long you have to vacate varies by state. The more info you can give here, the more help a real pro can give you. You might also look into some of hte posts by RSI - I can never remember what that stands for when I want to but it's reinstatement services inc., I think - they are a reliable company. I don't know this New Vision thing but just offhand I'd say they have their interests at heart and not yours, and I don't think that's what you came here for...Good luck. : (0)

  • Posted by Jake on August 12, 2002 at 16:00:15:

    I recently lost my job and have to file bankruptcy. Before I lost my job I made improvements to the house and put about $2500 worth of upgrades and new appliances in the home. I tried to sell the house or rent it to save it with no luck. I want to know if I can take some of the appliances with me even though the property is going back to the bank. : (4)

    • Posted by Nick(Colorado) on August 13, 2002 at 11:55:35:

      In Reply to: Losing house to Bankruptcy Question posted by Jake on August 12, 2002 at 16:00:15:

      Jake:

      Apparently every post is an opportunity to solicit business, and not answer the question. As I do notknow what jurisdiction you are in, I will give you general reply. You may take items that are not affixed to the property. For instance carpet and light fixtures are affixed to the property. However if yourgrandmother's chandelier is in the house, you could replace it with a $10 plain fixture from Home Depot.This is not legal advice: I would leave the built in microwave, but take the refrigerator without the ice maker.

      : (1)

      • Posted by Reinstatement Services, Inc. on August 13, 2002 at 18:18:33:

        In Reply to: Re: Losing house to Bankruptcy Question posted by Nick(Colorado) on August 13, 2002 at 11:55:35:

        Also Jake, depending upon the type of loan you have, you might consider petitioning your lender for a deferment if the prospect of employment is promising. This can be done through your lender's loss mitigation department.

        Be persistent. : (0)

  • Posted by Jill on August 12, 2002 at 13:23:26:

    Hi, my ex. got our home place in the divorce, I gave it to him. He has now filed bankruptcy 3 years later and the home place is in foreclosure. It is 23 acres, of which 7 is farmable. The bank here in WA. has asked me if I would be interested in buying the note. I am not familier with this, and am wondering if I make an offer?, I would love to have my home back, but I need some advise as to how to go about it. The place was once appresaied at $225,000. Since then, 4 years ago, he yanked out the apple trees, 1800 of them, and the 104' barn burned to the ground. He replaced the barn with one 1/4 of the size. He abandeded the property in May, and everything is dying. We have temps of 90 to 100 in central Washington. So no one has been there for the last 4 months. I need to know if I can make an offer, and what in your opinion should I offer.Thank you, : (4)

    • Posted by njdave on August 12, 2002 at 16:03:05:

      In Reply to: getting my home back posted by Jill on August 12, 2002 at 13:23:26:

      Foreclosure laws and customs differ from state to state, but generally buying the note won't get you your house back.... but it does place you in a good position to foreclose and take it back...

      Try to figure what is owed the lienholder... and make an offer that reflects a heavy discount....

      You'll probably need cash. Or partners. : (0)

    • Posted by Nick(Colorado) on August 12, 2002 at 14:44:19:

      In Reply to: getting my home back posted by Jill on August 12, 2002 at 13:23:26:

      Jill:

      Generally banks do not like to sell notes to individuals,especially individuals that had, or have, any beneficialinterest in the property. Consider yourself lucky. As the property may have dropped in value do to the degradations you mentioned, I think that you should start with a current appraisal of the property. From this number subtract whatyou think it would cost the take the bank to evict, hold and then sell the property. This number should be your absolute maximum upper end on the price you would be willing to pay. Make an offer somewhere around 80% of this and go up. Go luck

      : (0)

  • Posted by Keith on August 12, 2002 at 10:08:53:

    I'm new and learning about purchasing forclosures as an investor. My question is how does someone find out the remaining balance on a mortgage? Is it legal to obtain this from the mortgage company without consent of the mortgagee? : (1)

    • Posted by Ward-CA- on August 12, 2002 at 11:38:39:

      In Reply to: Determine balance on mortgage posted by Keith on August 12, 2002 at 10:08:53:

      : I'm new and learning about purchasing forclosures as an investor. My question is how does someone find out the remaining balance on a mortgage? Is it legal to obtain this from the mortgage company without consent of the mortgagee?

      =•=•=•=•=•=•=•=•=•=•=

      Keith,

      No, you can’t get mortgage balance information from a lender without written authorization from the borrow. So what most of the pro’s do is just figure it out using a financial or amortizing calculator, like the Hewlett Packard 12-C.

      If it’s the 1st lien you’re working with, we can make a number of assumptions and solve your problem:

      Assume that the term of the loan is 30 years;Assume that the interest rate is close to that found on a home loan historic table (see link below);Assume that the date interest started to accrue to be the date the mortgage/trust deed recorded;Assume that the beginning amount of the loan to be that which is recited on the face of the recorded mortgage/trust deed;

      Solve for the monthly payment amount. Then input the amount of months that have elapsed since the onset of the mortgage/trust deed and solve for the remaining balance.

      If you have the HP 12-C these calculations will be on page 53 and page 54 of your user’s manual.

      Hope this helps.

      : (0)

  • Posted by Karen on August 11, 2002 at 09:56:57:

    I have not received anything on foreclosure yet but I am currently 2 months behind on my mortgage. My husband was laid off 3 months ago. How long before we go into foreclosure? What can I do once we go into foreclosure? : (6)

    • Posted by shaun on August 13, 2002 at 00:11:36:

      In Reply to: What else? Foreclosure posted by Karen on August 11, 2002 at 09:56:57:

      : I have not received anything on foreclosure yet but I am currently 2 months behind on my mortgage. My husband was laid off 3 months ago. How long before we go into foreclosure? What can I do once we go into foreclosure?

      try to get on a payment plan with bank as soon .as you can about the arrears that you owe. the bank will send you a letter of default . if you do nothing they will make a move .onto foreclose on your property an thats bad the sooner you make plans for that payment plan the better you be.if not you may consider a bankruptcy to stop the forcloseo your property or sale your house or get a loan from family not the loan sharks because they are out there making you broken dreams. /// i been there before good luck . : (0)

    • Posted by Ward-CA- on August 11, 2002 at 11:39:10:

      In Reply to: What else? Foreclosure posted by Karen on August 11, 2002 at 09:56:57:

      : I have not received anything on foreclosure yet but I am currently 2 months behind on my mortgage. My husband was laid off 3 months ago. How long before we go into foreclosure? What can I do once we go into foreclosure?

      =•=•=•=•=•=•=•=•=•=•=•=

      Karen,

      Statistically, most lenders will initiate a foreclosure when you’re approximately three months delinquent in your payments to them. If you don’t cure your delinquency while you are in foreclosure your title to the property will be forfeit in a foreclosure auction. After that occurs you will be given notice to vacate. If you don’t leave within the time period specified in the notice you will be forcibly evicted.

      The consequence of such a scenario is that your credit record will bear the scar of a foreclosure for a minimum of 7 years. For the first two or three years it will be very difficult for you creditwise. After about 5 years most creditors will be willing to lend to you again for just about everything except for another house—that’ll have to wait a bit more usually.

    • Unique, state-specific one-on-one foreclosure training.
    : (1)
    • Posted by Joe Trinity Consulting on August 13, 2002 at 01:14:25:

      In Reply to: Statistically... posted by Ward-CA- on August 11, 2002 at 11:39:10:

      : : I have not received anything on foreclosure yet but I am currently 2 months behind on my mortgage. My husband was laid off 3 months ago. How long before we go into foreclosure? What can I do once we go into foreclosure?

      : =•=•=•=•=•=•=•=•=•=•=•=

      : Karen,

      : Statistically, most lenders will initiate a foreclosure when you’re approximately three months delinquent in your payments to them. If you don’t cure your delinquency while you are in foreclosure your title to the property will be forfeit in a foreclosure auction. After that occurs you will be given notice to vacate. If you don’t leave within the time period specified in the notice you will be forcibly evicted.

      : The consequence of such a scenario is that your credit record will bear the scar of a foreclosure for a minimum of 7 years. For the first two or three years it will be very difficult for you creditwise. After about 5 years most creditors will be willing to lend to you again for just about everything except for another house—that’ll have to wait a bit more usually.

      There is a way to re-instate your mortgage, but it take negotiating with the bank. If you would like additional information, please send e-mail to jd53@attbi.com : (0)

  • Posted by Michael P on August 10, 2002 at 22:14:22:

    In my search for a new home, i stumbled upon what seems to be the perfect house. It is currently vacant. A neighbor told me that it has been empty for a while and was being foreclosed upon. How do I get information on purchasing this house? I don't have any information on the bank or the owner of the house.I've never dealt with this situation, so any advise would be appreciated.Thanks : (2)

    • Posted by Joe on August 11, 2002 at 17:37:35:

      In Reply to: Help with pre-foreclosure house in Baltimore, MD posted by Michael P on August 10, 2002 at 22:14:22:

      : In my search for a new home, i stumbled upon what seems to be the perfect house. It is currently vacant. A neighbor told me that it has been empty for a while and was being foreclosed upon. How do I get information on purchasing this house? I don't have any information on the bank or the owner of the house.: I've never dealt with this situation, so any advise would be appreciated.: Thanks

      Since you are in the early phase of foreclosure, there is a possibility to re-instate your mortgage.The e-mail address listed below my help you.joeda@netmarkmail.comJoe at Trinity Consulting : (1)

      • Posted by njdave on August 13, 2002 at 19:12:02:

        In Reply to: Re: Help with pre-foreclosure house in Baltimore, MD posted by Joe on August 11, 2002 at 17:37:35:

        Joe, your answer to this post doesn't make sense. Either you don't take the time to read the posts in your haste to self-promote...&/or your posts are often misplaced onto the wrong thread. On more than several occasions I've read your posts offering advice to someone other than the intended recipient...

        In fact, you once posted a response (in error) to me.... Please take the time to post your response (which is usually a blatant solicitation) to the appropriate party on the applicable thread.



        : (0)

  • Posted by diane on August 10, 2002 at 19:17:04:

    Stratight to the point.......

    1. A friend (20yrs), previous loan officer w/ company turned entreprenuer, asked if I wanted to invest in dilapidated multi-unit to rehab, rent and then sell. 2. He indicated he would take care of the paperwork and pay mortgage. Get contractor for me. (how stupid on my part)

    3. Thought about it for a while and said yes.

    4. He came to house, papers were signed, loan approved. I Didn't have to attend closing. He claimed he was associates with title company people. discovered he opened a title company in another person (who doesn't have a clue) name at a HOUSE!!!

    5. 6 months into mortgage, received letter of default, actually its one month behind at present.

    6. Asked previous friend to take care of selling the mortgage as promised or I would seek counsel and he said ok. Kept saying it would take time (6 months later, nothing). Therefore..........

    7. Did my own research; property was sold to another individual 3 months before my purchase; when property was sold to me, owner on title is not actual owner of property; illegal title; property is now foreclosed on with the original recorded (at deeds office) title owner. (whom I discovered he used as well)

    8. There is now a mortgage with NO property attached to my name. Contacted previous friend and said this is it take care of the mortgage(he said it would open up a can of worms; I shouldn't do it; said he wanted to bring me a check; I said no; he told(dared)me to contact an attorney and file papers. Attorney told me he would handle it and then two days later sent letter in mail saying his office wouldn't be able to assist me in this matter.

    9. My next step is to contact the Attorney General's office in reference to this matter. After thorough research, loan officer has foreclosed on at least 6 other properties in other peoples' name.

    I need help, adivce, guidance, etc. Any information in resolving this matter quickly would be greatly appreciated.

    Thanks

    : (1)

    • Posted by Ward-CA- on August 11, 2002 at 11:26:08:

      In Reply to: illegal investment posted by diane on August 10, 2002 at 19:17:04:

      : Stratight to the point.......

      : 1. A friend (20yrs), previous loan officer w/ company turned entreprenuer, asked if I wanted to invest in dilapidated multi-unit to rehab, rent and then sell.: : 2. He indicated he would take care of the paperwork and pay mortgage. Get contractor for me. (how stupid on my part)

      : 3. Thought about it for a while and said yes.

      : 4. He came to house, papers were signed, loan approved. I Didn't have to attend closing. He claimed he was associates with title company people. discovered he opened a title company in another person (who doesn't have a clue) name at a HOUSE!!!

      : 5. 6 months into mortgage, received letter of default, actually its one month behind at present.

      : 6. Asked previous friend to take care of selling the mortgage as promised or I would seek counsel and he said ok. Kept saying it would take time (6 months later, nothing). Therefore..........

      : 7. Did my own research; property was sold to another individual 3 months before my purchase; when property was sold to me, owner on title is not actual owner of property; illegal title; property is now foreclosed on with the original recorded (at deeds office) title owner. (whom I discovered he used as well)

      : 8. There is now a mortgage with NO property attached to my name. Contacted previous friend and said this is it take care of the mortgage(he said it would open up a can of worms; I shouldn't do it; said he wanted to bring me a check; I said no; he told(dared)me to contact an attorney and file papers. Attorney told me he would handle it and then two days later sent letter in mail saying his office wouldn't be able to assist me in this matter.

      : : 9. My next step is to contact the Attorney General's office in reference to this matter. After thorough: research, loan officer has foreclosed on at least 6 other properties in other peoples' name.

      : I need help, adivce, guidance, etc. Any information in resolving this matter quickly would be greatly appreciated.

      : Thanks

      : (0)

  • Posted by Rick on August 10, 2002 at 11:14:12:

    If a property is in foreclosurer by the 1st mortgage holder, there is a 1st mortgage lien, and a 2nd mortgage lien, and a deliquent R.E. Tax lien, Where do the proceeds of a sherriff's sale go, and who gets paid, and when? : (6)

    • Posted by njdave on August 10, 2002 at 16:02:51:

      In Reply to: Who gets the money after sherriff's sale posted by Rick on August 10, 2002 at 11:14:12:

      Assuming proceeds are sufficient to pay off all liens...

      1) Muni Tax Liens2) 1st Mortgagee3) 2nd Mortgagee4) junior liens

      If there is anything left after all liens are paid, including costs of sale... the former homeowner is entitled to excess proceeds. : (5)

      • Posted by Rick on August 10, 2002 at 19:39:48:

        In Reply to: Re: Who gets the money after sherriff's sale posted by njdave on August 10, 2002 at 16:02:51:

        : Assuming proceeds are sufficient to pay off all liens...

        : 1) Muni Tax Liens: 2) 1st Mortgagee: 3) 2nd Mortgagee: 4) junior liens

        : If there is anything left after all liens are paid, including costs of sale... the former homeowner is entitled to excess proceeds.

        What about the reply that is posted June 27, 2002 at 07:48:18, that's titled "Re:Figure out lien priorities BEFORE you buy" NgocBich Nguyen states:In order to safely invest in foreclosures going to auction you need to research the property’s title record at your local county recorder’s office. You must know all liens and their priorities. That is because the foreclosure of a senior lien will wipe off a junior lien.

        Here it looks like you got title by paying off a first mortgage. Thus you also wiped off the title the junior 2nd and the junior HOA lien of $160.00.

        So now you own the property with no liens, it is free and clear of all liens except for any property taxes that might be owing. Property taxes are always the most senior lien on a property.

        If the senior lien that filed the foreclosurer is paid, then the statement above implies that all other liens are wiped clean. What about it?

        : (4)

        • Posted by njdave on August 12, 2002 at 09:44:09:

          In Reply to: Re: Who gets the money after sherriff's sale posted by Rick on August 10, 2002 at 19:39:48:

          You've quoted him as saying, "Because the foreclosure of a senior lien will wipe off a junior lien."

          I would agree that the foreclosure of a senior lien MAY serve to extinguish a junior lien....

          However, simply because a superior lienholder initiates foreclsure doesn't necessarily mean that all juniors are out of luck...

          In addition to the defendant's use of legal remedies or other non-foreclosure alternatives,junior lienholders may 1) join in the foreclosure lawsuit as Plaintiff, or 2) payoff the superior foreclosing lienholder and continue the foreclosure as senior lienholder.





          : : Assuming proceeds are sufficient to pay off all liens...

          : : 1) Muni Tax Liens: : 2) 1st Mortgagee: : 3) 2nd Mortgagee: : 4) junior liens

          : : If there is anything left after all liens are paid, including costs of sale... the former homeowner is entitled to excess proceeds.

          : What about the reply that is posted June 27, 2002 at 07:48:18, that's titled "Re:Figure out lien priorities BEFORE you buy" NgocBich Nguyen states:: In order to safely invest in foreclosures going to auction you need to research the property’s title record at your local county recorder’s office. You must know all liens and their priorities. That is because the foreclosure of a senior lien will wipe off a junior lien.

          : Here it looks like you got title by paying off a first mortgage. Thus you also wiped off the title the junior 2nd and the junior HOA lien of $160.00.

          : So now you own the property with no liens, it is free and clear of all liens except for any property taxes that might be owing. Property taxes are always the most senior lien on a property.

          : If the senior lien that filed the foreclosurer is paid, then the statement above implies that all other liens are wiped clean. What about it?

          : (0)

        • Posted by njdave on August 10, 2002 at 20:06:18:

          In Reply to: Re: Who gets the money after sherriff's sale posted by Rick on August 10, 2002 at 19:39:48:

          Depends on who initiates the foreclosure. Typically, if the first mortgagee initiates foreclosure... the second would follow suit.

          Non responsive, junior lienholders may be "wiped away" ... and if proceeds are insufficient juniors aren't paid.

          : (2)

          • Posted by Rick on August 10, 2002 at 20:22:44:

            In Reply to: Re: Who gets the money after sherriff's sale posted by njdave on August 10, 2002 at 20:06:18:

            : Depends on who initiates the foreclosure. Typically, if the first mortgagee initiates foreclosure... the second would follow suit.

            : Non responsive, junior lienholders may be "wiped away" ... and if proceeds are insufficient juniors aren't paid.

            Can a breakdown of where the money goes, be gotten as public information record? : (1)

            • Posted by njdave on August 11, 2002 at 08:19:02:

              In Reply to: Re: Who REALLY gets the money after sherriff's sale? posted by Rick on August 10, 2002 at 20:22:44:

              If I wanted to know, I'd visit my local County Sheriff's Office and speak with the foreclosure clerk. Ask a direct question and you may get a direct answer. : (0)

  • Posted by Sarah Scott on August 10, 2002 at 02:39:09:

    Our mortgage is in Foreclosure and the sale date is the week of August 19th. On July 12th my husband and I attended the Judgement hearing in regards to the Foreclosure. We where in the Judges office and the Plantiffs attorney participated by phone. The first thing the Judge asked their attorney was if there was a workout in regards to our mortgage. Her reply was that she had just talked to our mortgage company earlier that day and a workout was almost complete. Her exact words were that all they had to do was to dot all the I's and cross all the T's.

    I have been paying on this mortgage for 14 years but due to economic hardship we got behind. My mortgage company sent me some forms along with a sheet that I was to complete explaining my economic hardship. I have been corresponding with my lender and have complied with every thing they have requested. We've just believed all along that they where going to work with us. I asked them to be considered for Special Forebearance with a possible loan modification!

    In Florida once a Judgement is entered the sale date is scheduled for 20 days from that day, but the Judge asked the attorney if they would be OK with extending it a few extra weeks. She agreed! However, that was 4 weeks ago and I still have not heard from my mortgage company. Like I said, the sale is scheduled in just a little over a week.

    Are they bluffing me possibly trying to keep me from filing for Chapter 13? Can I still file for bankruptcy at this late date?

    I've got a VA 1st mortgage of about $67,000, a second of $13,000 and an equity line of credit at about $17,000. The value of our house is around $115,000.

    What should we do at such a late date? : (9)

    • Posted by shaun on August 13, 2002 at 00:54:38:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      : Our mortgage is in Foreclosure and the sale date is the week of August 19th. On July 12th my husband and I attended the Judgement hearing in regards to the Foreclosure. We where in the Judges office and the Plantiffs attorney participated by phone. The first thing the Judge asked their attorney was if there was a workout in regards to our mortgage. Her reply was that she had just talked to our mortgage company earlier that day and a workout was almost complete. Her exact words were that all they had to do was to dot all the I's and cross all the T's.

      : I have been paying on this mortgage for 14 years but due to economic hardship we got behind. My mortgage company sent me some forms along with a sheet that I was to complete explaining my economic hardship. I have been corresponding with my lender and have complied with every thing they have requested. We've just believed all along that they where going to work with us. I asked them to be considered for Special Forebearance with a possible loan modification!

      : In Florida once a Judgement is entered the sale date is scheduled for 20 days from that day, but the Judge asked the attorney if they would be OK with extending it a few extra weeks. She agreed! However, that was 4 weeks ago and I still have not heard from my mortgage company. Like I said, the sale is scheduled in just a little over a week.

      : Are they bluffing me possibly trying to keep me from filing for Chapter 13? Can I still file for bankruptcy at this late date?

      : I've got a VA 1st mortgage of about $67,000, a second of $13,000 and an equity line of credit at about $17,000. The value of our house is around $115,000.

      : What should we do at such a late date?

      the bank is telling you lies so they can stall you from filing a bankruptcy. You need to file as soon as possible their next move is to sale your property . You need to find a bankruptcy attorney as soon as you can again because the bank putting you off, the bank has the right to continue on with the forclosure without the bankruptcy there is no stay on the property because there is no bankruptcy. there is no automatic stay from the court, in a chapter 13 the stay is put on until your arrears are caught up and the automatic stay stops the foreclosure in the sale of the property until the court decides on payment arrangements with your bank and for you to start making your regular payments. Sometimes the banks will tell you that they will make arrangements with you but they will not because there is no court order protection as in the chapter 13 that keeps the protection. I hope you find this info very useful. Good Luck. : (0)

    • Posted by shaun on August 13, 2002 at 00:50:26:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      : Our mortgage is in Foreclosure and the sale date is the week of August 19th. On July 12th my husband and I attended the Judgement hearing in regards to the Foreclosure. We where in the Judges office and the Plantiffs attorney participated by phone. The first thing the Judge asked their attorney was if there was a workout in regards to our mortgage. Her reply was that she had just talked to our mortgage company earlier that day and a workout was almost complete. Her exact words were that all they had to do was to dot all the I's and cross all the T's.

      : I have been paying on this mortgage for 14 years but due to economic hardship we got behind. My mortgage company sent me some forms along with a sheet that I was to complete explaining my economic hardship. I have been corresponding with my lender and have complied with every thing they have requested. We've just believed all along that they where going to work with us. I asked them to be considered for Special Forebearance with a possible loan modification!

      : In Florida once a Judgement is entered the sale date is scheduled for 20 days from that day, but the Judge asked the attorney if they would be OK with extending it a few extra weeks. She agreed! However, that was 4 weeks ago and I still have not heard from my mortgage company. Like I said, the sale is scheduled in just a little over a week.

      : Are they bluffing me possibly trying to keep me from filing for Chapter 13? Can I still file for bankruptcy at this late date?

      : I've got a VA 1st mortgage of about $67,000, a second of $13,000 and an equity line of credit at about $17,000. The value of our house is around $115,000.

      : What should we do at such a late date?

      the bank is telling you lies so they can stall you from filing a bankruptcy. You need to file as soon as possible their next move is to sale your property . You need to find a bankruptcy as soon as you can again because the bank putting you off, the bank has the right to continue on with the forclosure without the bankruptcy there is no stay on the property because there is no bankruptcy. there is no automatic stay from the court, in a chapter 13 the stay is put on until your arrears are caught up and the automatic stay stops the foreclosure in the sale of the property until the court decides on payment arrangements with your bank and for you to start making your regular payments. Sometimes the banks will tell you that they will make arrangements with you but they will not because there is no court order protection as in the chapter 13 that keeps the protection. I hope you find this info very useful. Good Luck. : (0)

    • Posted by joe on August 11, 2002 at 18:39:50:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      : Our mortgage is in Foreclosure and the sale date is the week of August 19th. On July 12th my husband and I attended the Judgement hearing in regards to the Foreclosure. We where in the Judges office and the Plantiffs attorney participated by phone. The first thing the Judge asked their attorney was if there was a workout in regards to our mortgage. Her reply was that she had just talked to our mortgage company earlier that day and a workout was almost complete. Her exact words were that all they had to do was to dot all the I's and cross all the T's.

      : I have been paying on this mortgage for 14 years but due to economic hardship we got behind. My mortgage company sent me some forms along with a sheet that I was to complete explaining my economic hardship. I have been corresponding with my lender and have complied with every thing they have requested. We've just believed all along that they where going to work with us. I asked them to be considered for Special Forebearance with a possible loan modification!

      : In Florida once a Judgement is entered the sale date is scheduled for 20 days from that day, but the Judge asked the attorney if they would be OK with extending it a few extra weeks. She agreed! However, that was 4 weeks ago and I still have not heard from my mortgage company. Like I said, the sale is scheduled in just a little over a week.

      : Are they bluffing me possibly trying to keep me from filing for Chapter 13? Can I still file for bankruptcy at this late date?

      : I've got a VA 1st mortgage of about $67,000, a second of $13,000 and an equity line of credit at about $17,000. The value of our house is around $115,000.

      : What should we do at such a late date?

      : (0)

    • Posted by Sarah Scott on August 10, 2002 at 16:08:45:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      I realize that in a bankruptcy that I will still have to make up the payments I've missed, but can I still file for bankruptcy with just over a week before the sale? Are there any other options! : (1)

      • Posted by Cal on August 11, 2002 at 23:28:27:

        In Reply to: Re: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 16:08:45:

        : I realize that in a bankruptcy that I will still have to make up the payments I've missed, but can I still file for bankruptcy with just over a week before the sale? Are there any other options!

        Not a attorney but you can file up to the sale. The sooner the better and be sure to notify the trustee or sheriff aboiut the filing. Good Luck : (0)

    • Posted by ForeclosureVictims.net on August 10, 2002 at 15:18:50:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      When you file Chapter 13 you are not free of making some payments. Make sure you know everything before you commit to it.Good luck.

      : (1)

      • Posted by TinaJ on August 13, 2002 at 22:53:23:

        In Reply to: Re: 1 week - Need help desperately! posted by ForeclosureVictims.net on August 10, 2002 at 15:18:50:

        : When you file Chapter 13 you are not free of making some payments. Make sure you know everything before you commit to it.: Good luck.

        And I would definitely, positively, really most sincerely suggest that she check out your outfit's references, if you have any, before she gives any of her money to you. : (0)

    • Posted by njdave on August 10, 2002 at 09:30:59:

      In Reply to: 1 week - Need help desperately! posted by Sarah Scott on August 10, 2002 at 02:39:09:

      You don't indicate which mortgagee is foreclosing... so I am left to guess it's the VA first.

      If that's the case, what does your VARO (Veterans Administration Regional Office) case manager say? If you haven't asked, then you should ask immediately. If you haven't been able to get an answer from your mortgagee's loss mitigation department, then VARO should be able to cut thru the beauracracy and at least get an answer.

      Though the filing of a BNK might jeopardize a lender approved workout... it would likely stop the forecloure sale...and allow you to make application for a BNK approved repayment plan.

      As a last resort, ask to speak with the presiding Judge. If they won't let you in to see him, put all your paperwork in a paper sack, then sit outside the Judge's Chambers (all day if necessary) and tell his secretary that you'll wait all day if necessary.. that your house is about to be taken from you... and nobody will give you a straight answer... that the Judge is your last hope of saving the house.

      Who knows? Maybe you can get to see him, pitch your case, he'll make a phone call and you'll know exactly where you stand....

      Or, you'll be forcibly removed from the Court House.... in which case you can ask a newspaper reporter to help investigate the 'coverup' ..... : (1)

  • Posted by steve on August 10, 2002 at 01:44:22:

    i came across a lien that i have never seen before that i would like to get feedback on - i showed it to 2 title officers who had never seen it before either

    since a senior DOT wipes out liens except tax liens what happens to a lien such as this US Department of Justice Lien - it states:

    "pursuant to 3613(d),a notice of lien shall be considered a notice of lien for taxes for the purpose of any state or local law providing for the filing of a tax lien"

    this makes it sound like a tax lien not a judgement lien !?!?

    long and short - what do people think will occur after the trustee sale (CA) ? would it be subject to the 120 right of redemption like an IRS lien ??

    if you need more "info" about what is on the lien page let me know -

    thankssteve : (1)

    • Posted by Nick(Colorado) on August 10, 2002 at 15:32:52:

      In Reply to: US Department of Justice Lien - a new one for me ! posted by steve on August 10, 2002 at 01:44:22:

      Steve:

      Most likely a trustee purchase will be subject to a federalROR lasting 180 day or 6 months at 6%. Do not make any improvements or sell the properly until the end of that period.

      : (0)

  • Posted by mw on August 09, 2002 at 20:54:43:

    I just received notice that my home will be sold on 10/1. I have been going through loss mitigation, but after 42 days, have gotten no answers. Is it too late to sell my home? Where can I quickly find a buyer that will buy my home for what it is worth? Thanks. : (5)

    • Posted by Reinstatement Services, Inc. on August 14, 2002 at 09:05:17:

      In Reply to: my sale date is 10/1 posted by mw on August 09, 2002 at 20:54:43:

      who has indeed been experiencing a tremendous backlog since early January when they took their loss mitigation efforts in-house.

      Although there is still plenty of time to put a workout in place if you're still interested in retaining the property [and depending on your current financial state]if you haven't received an answer within the next 10 days, I would definitely call the HOA department and ask to speak with a supervisor.

      : (0)

    • Posted by Jason on August 09, 2002 at 21:10:09:

      In Reply to: my sale date is 10/1 posted by mw on August 09, 2002 at 20:54:43:

      Where are you located?

      : I just received notice that my home will be sold on 10/1. I have been going through loss mitigation, but after 42 days, have gotten no answers. Is it too late to sell my home? Where can I quickly find a buyer that will buy my home for what it is worth? Thanks.

      : (1)

      • Posted by mw on August 09, 2002 at 22:49:32:

        In Reply to: Re: my sale date is 10/1 posted by Jason on August 09, 2002 at 21:10:09:

        :I am in Garland, TX

        Where are you located?

        : : I just received notice that my home will be sold on 10/1. I have been going through loss mitigation, but after 42 days, have gotten no answers. Is it too late to sell my home? Where can I quickly find a buyer that will buy my home for what it is worth? Thanks.

        : (0)

  • Posted by p0etik on August 09, 2002 at 15:58:06:

    Hello,I have been looking for a free forclosure listing? I have seen tons of them with fees, but if this information is public record, why should I pay for it? Is there a governmental site out there that someone knows about?Thanks! : (10)

    • Posted by Chris on November 22, 2002 at 21:22:55:

      In Reply to: Where to find FREE forclosure listing? Posted by p0etik on August 09, 2002 at 15:58:06:

      I think that this TinaJ person sounds like a piss-tail critic. Jumping from topic to topic talking garbage about everyone, If the man wants $10 for collecting this information and giving it to people so let it be. Even though its free, he still put in his time and energy, did you? don't you have something better to do than talk trash?

      : (0)

    • Posted by MOSES TETREAULT on November 11, 2002 at 04:35:25:

      In Reply to: Where to find FREE forclosure listing? Posted by p0etik on August 09, 2002 at 15:58:06:

      : Hello,: I have been looking for a free forclosure listing? I have seen tons of them with fees, but if this information is public record, why should I pay for it? Is there a governmental site out there that someone knows about?: Thanks!



      : (2)

      • Posted by MOSES TETREAULT on November 11, 2002 at 04:37:59:

        In Reply to: Re: Where to find FREE forclosure listing? Posted by MOSES TETREAULT on November 11, 2002 at 04:35:25:

        : : Hello,: : I have been looking for a free forclosure listing? I have seen tons of them with fees, but if this information is public record, why should I pay for it? Is there a governmental site out there that someone knows about?: : Thanks!



        : (1)

        • Posted by haywood on November 11, 2002 at 23:24:19:

          In Reply to: Re: Where to find FREE forclosure listing? Posted by MOSES TETREAULT on November 11, 2002 at 04:37:59:

          : : : Hello,: : : I have been looking for a free forclosure listing? I have seen tons of them with fees, but if this information is public record, why should I pay for it? Is there a governmental site out there that someone knows about?: : : Thanks!

          Foreclosure listings are free if you go to the county recorders office & do the research on notice of defaults yourself. The reason I pay for the listings is because it is worth it. The free gov. listings on the net are not of much value to me. (sometimes it is true ...you get what you pay for)

          H

          : (0)

    • Posted by Jim V on August 09, 2002 at 18:31:57:

      In Reply to: Where to find FREE forclosure listing? posted by p0etik on August 09, 2002 at 15:58:06:

      There is a page on this site that has many links to free sources of bank-owned properties. Best of all, it doesn't even cost $10.00

    • Free Foreclosure List
    : (1)
    • Posted by Andrew on August 10, 2002 at 14:36:37:

      In Reply to: Re: Where to find FREE forclosure listing? posted by Jim V on August 09, 2002 at 18:31:57:

      There are some good links on this website, I just take it a step further. What I offer serves as quite a convience instead of hitting all the pay sites or ones that don't give complete address which can be very frustrating when searching the internet.

      Andrew

      : (0)

  • Posted by Andrew on August 09, 2002 at 17:06:17:

    In Reply to: Where to find FREE forclosure listing? posted by p0etik on August 09, 2002 at 15:58:06:

    I have seen your question alot!I have a collection of Free website links that I sell in the classifieds and on eBay. It is a list of 50 links to FREE websites that give the complete street address to properties, price and contact info across the USA.I sell this for $10, if this sounds like what you need please email me I accept multiple payment methods. Thanks Andrew : (2)

    • Posted by trel on August 10, 2002 at 13:37:49:

      In Reply to: Re: Where to find FREE forclosure listing? posted by Andrew on August 09, 2002 at 17:06:17:

      You're selling a list of free sites?

      Wow, I haven't seen that much hype in years. : (1)



      • Posted by TinaJ on August 19, 2002 at 22:59:39:

        In Reply to: Re: Where to find FREE forclosure listing? posted by trel on August 10, 2002 at 13:37:49:

        Sounds like that fuzzy Washington math to me.

        Put me down for 2000 copies of the free one. I'm sure everyone else wants some too. I'll pass on the free one you want $10 for though.

        : (0)

  • Posted by Mike C in Fla on August 08, 2002 at 19:42:35:

    I am facing a foreclosure on my home, and bankruptcy is not an option for me. My lender defrauded me when they refinanced my home in 5/01 for $150,000. I didn't realize until 10/01 that my home was only worth $103,000 (I paid to have my own appraisal done to satisify my concerns that something wasn't right). I immediately contacted the lender (Conseco Finance Co.)to inform them of my discovery, and to ask for their assistance in resolving the matter and disciplining the guilty loan officer. They weren't the least bit concerned that this happened to me, and didn't even bother to return my calls or respond to my letters. In 4/02 I stopped making mortgage payments and demanded their intervention to correct the injustice they have done to me. This company is unbelievably ruthless. They could care less that their representative committed fraud, violated the Fair Credit Reporting Act, and that I am nearly $50,000 "upside down" in my loan because of it. They just want their monthly payments or they have threatened to foreclose on me. I can't afford an attorney. I have talked to 2, and both told me I have a darn good case. Problem is, I can't afford their fees while this case is being developed. My only recourse seems to be to let the crooks take the home back via foreclosure. I can't refinance...the home is only worth $105,000 at best. I know a foreclosure will be on my credit report for 7 years...maybe 10. I also know that after a few years, with otherwise good credit (which I have), and good stable employment (I have worked for the same employer for 23 years), and some down payment, I will be able to get into another house. MY BIGGEST CONCERN IS THIS:After the foreclosure sale there will no doubt be a large deficiancy judgement against me. How long into the future will this judgement haunt me? Will I be liable for it for the rest of my life? You can bet I am going to fight back through every legal channel I possibly can, but I am expecting the worst. Does anybody have any suggestions? : (15)

    • Posted by mark on August 09, 2002 at 02:43:00:

      In Reply to: Foreclosure Concerns posted by Mike C in Fla on August 08, 2002 at 19:42:35:

      I here day after day from consumers that claim they were "ripped off"by the lender. You statement claims that the finance company lent you more than your home was worth. I ask "did you take the money?" What did you do with it would be another question? You make the bank out to be the bad guy and your the one the walked away with $45K more than your house (the banks collateral) was worth. In my eyes you ripped them off. You got 45K that they will probably never collect again. Your states consumer protections laws (FL) and mine (MN) protect the consumer adiquately and the remainder or risk is up to the consumer. I believe people should take responsibiliy for the mistakes they make in there own lives and stop saying "those guys made me do it". : (5)

      • Posted by Mike C in FLA on August 12, 2002 at 12:34:17:

        In Reply to: Re: Foreclosure Concerns posted by mark on August 09, 2002 at 02:43:00:

        : I here day after day from consumers that claim they were "ripped off"by the lender. You statement claims that the finance company lent you more than your home was worth. I ask "did you take the money?" What did you do with it would be another question? You make the bank out to be the bad guy and your the one the walked away with $45K more than your house (the banks collateral) was worth. In my eyes you ripped them off. You got 45K that they will probably never collect again. Your states consumer protections laws (FL) and mine (MN) protect the consumer adiquately and the remainder or risk is up to the consumer. I believe people should take responsibiliy for the mistakes they make in there own lives and stop saying "those guys made me do it".

        : (0)

      • Posted by micke on August 11, 2002 at 01:00:48:

        In Reply to: Re: Foreclosure Concerns posted by mark on August 09, 2002 at 02:43:00:

        : I here day after day from consumers that claim they were "ripped off"by the lender. You statement claims that the finance company lent you more than your home was worth. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Mark, why do people refinance? To get money to use to fix theirs house and things. No person in this world is going to tell a Lender, Ok Put me in a fix where I cant make the payments or see the day when I will get the house paid down where I can sell. Or refinancing again. This over bloating of appraisals is a problem and is not legal. I have got a web site for you to go see. You were wrong to think this is not a problem going on... and you were a jerk.

      • bloated apprasal
      : (3)
      • Posted by Mike C in FLA on August 12, 2002 at 12:51:35:

        In Reply to: Re: Foreclosure Concerns posted by micke on August 11, 2002 at 01:00:48:

        : : I here day after day from consumers that claim they were "ripped off"by the lender. You statement claims that the finance company lent you more than your home was worth. : ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~: Mark, why do people refinance? To get money to use to fix theirs house and things. No person in this world is going to tell a Lender, Ok Put me in a fix where I cant make the payments or see the day when I will get the house paid down where I can sell. Or refinancing again. : This over bloating of appraisals is a problem and is not legal. I have got a web site for you to go see. : You were wrong to think this is not a problem going on... and you were a jerk.: Thanks, micke for the website info about bloated appraisals. The response I recieved from Mark leads me to believe he is probably a mortgage broker who has done this very thing to a client or two in his day. I do not work in the mortgage or real estate industry. I trusted what I thought were licensed professionals. It was not my plan to overfinance my home by $50,000. I would have never gone through with the refinancing had I known what was going on. Since I posted my first request for help and advice, someone has put me in touch with a good real estate litigation attorney here in Florida. She has looked over my paperwork and immediately took my case. She told me my mortgage company will not stand a chance of foreclosing on me under the circumstances involved, and she plans to assist me in suing them for sizable compensatory and punatitive damages.

        : (2)

        • Posted by Mark on August 13, 2002 at 00:31:02:

          In Reply to: Re: Foreclosure Concerns posted by Mike C in FLA on August 12, 2002 at 12:51:35:

          Keep me posted on how much more money your able to get out of that bank...We should all get to take them for a ride, too.

          Kindest Regards. : (1)



          • Posted by Synethia on August 29, 2002 at 13:33:03:

            In Reply to: Re: Foreclosure Concerns posted by Mark on August 13, 2002 at 00:31:02:

            I don't think Mark really understand how serious your situation and others like you is. I have recently gone through the same situation. The banks appraised it @ 45k over it's value inorder to refinace my mortgage. I refianced to pay off my debts and to hope to start a new. Ofcoure, the bank states that will regular payments for 6 months to a year, you will be able to refinance for a lower rate with no problem. Will in my case that was not the deal. When I refinanced they raised my rate from 8% to 12%. Understandably, I wanted to get my rate as low as possible now that it has been a year since the refiance. Unfortunately, the mortgage company that stated it would not be a problem to re-finance again for a lower rate could not justify a 290k value or more on my home this time. And now the appriasor is under investigation, and I was forced to sell my home and move on.

            I fell your pain, but you know what, we live and we learn, the only mistake is a mistake not learned from. Good luck and keep an eye open or pretitors in the future. : (0)

  • Posted by Ward-CA- on August 08, 2002 at 21:29:57:

    In Reply to: Foreclosure Concerns posted by Mike C in Fla on August 08, 2002 at 19:42:35:

    MY BIGGEST CONCERN IS THIS:: After the foreclosure sale there will no doubt be a large deficiancy judgement against me. How long into the future will this judgement haunt me? Will I be liable for it for the rest of my life? You can bet I am going to fight back through every legal channel I possibly can, but I am expecting the worst. Does anybody have any suggestions?

    =•=•=•=•=•=•=•=•=•=•=

    Mike,

    I think you’re a little too precipitous in assuming that your lender will pursue you for a deficiency after the foreclosure sale and final disposition of the property. In my experience they really don’t want to spend the time and money chasing around for a deficiency judgment against someone who has already demonstrated they are broke!!

    My advice is to keep calm and wait for things to unfold.

  • Incomparable one-on-one foreclosure training. : (8)
    • Posted by ForeclosureVictims.net on August 10, 2002 at 15:29:33:

      In Reply to: I'm betting you don't have to worry. posted by Ward-CA- on August 08, 2002 at 21:29:57:

      I would not completely agree wit this. The judgement will follow you for years. When your financial situation improves and you decide to buy another house, another foreclosure might be filed based on this deficieny judgement.

    • ForeclosureVictims.net
    : (6)
    • Posted by tinaJ on August 13, 2002 at 16:13:53:

      In Reply to: Re: I'm betting you don't have to worry. posted by ForeclosureVictims.net on August 10, 2002 at 15:29:33:

      You have an axe to grind here. You want to sell some service or another. You aren't being objective. : (5)

      • Posted by ForeclosureVictims.net on August 13, 2002 at 19:41:10:

        In Reply to: Pardon me, but it seems that you think this because it suits you. posted by tinaJ on August 13, 2002 at 16:13:53:

        ?? Why do you say that? What part of my post was not objective? The post was based on experience, when homeowner in NY state contacted us with foreclosure filed by her previous financial institution and it was based on old insufficiency judgement.

        If you have any uncertain feelings then maybe you could ask staight questions and receive straight answers...

        :(4)

        • Posted by Jim V on August 13, 2002 at 21:36:35:

          In Reply to: Re: Pardon me, but it seems that you think this because it suits you. posted by ForeclosureVictims.net on August 13, 2002 at 19:41:10:

          Based on your example of a person losing a current home due to a past NY foreclosure deficiency, how did the homeowner purchase the new property?

          I believe a lender in NY has 90 days from the foreclosure auction to seek a deficiency judgement, so the judgement should have been public record long before the homeowner could obtain financing for a new home purchase.

          A cash purchase is unlikely, a conventional loan would normally require title insurance(which should have the judgement show up) and a take-over-payments kind of purchase wouldn't normally have any equity to justify the old lender's collection attempts.

          I just can't figure how it could happen, perhaps you could spell it out for me?

          : ?? Why do you say that? What part of my post was not objective? The post was based on experience, when homeowner in NY state contacted us with foreclosure filed by her previous financial institution and it was based on old insufficiency judgement.

          : If you have any uncertain feelings then maybe you could ask staight questions and receive straight answers...

          : (3)

          • Posted by ForeclosureVictims.net on August 14, 2002 at 00:25:39:

            In Reply to: Re: I've got a question. posted by Jim V on August 13, 2002 at 21:36:35:

            I couldn't. I do not know. I described situation with which someone contacted us.

            Do you say that with old judgement that person wouldn't get a loan? Cosigner, or something like this..?

            : Based on your example of a person losing a current home due to a past NY foreclosure deficiency, how did the homeowner purchase the new property?

            : I believe a lender in NY has 90 days from the foreclosure auction to seek a deficiency judgement, so the judgement should have been public record long before the homeowner could obtain financing for a new home purchase.

            : A cash purchase is unlikely, a conventional loan would normally require title insurance(which should have the judgement show up) and a take-over-payments kind of purchase wouldn't normally have any equity to justify the old lender's collection attempts.

            : I just can't figure how it could happen, perhaps you could spell it out for me?

            : : : ?? Why do you say that? What part of my post was not objective? The post was based on experience, when homeowner in NY state contacted us with foreclosure filed by her previous financial institution and it was based on old insufficiency judgement.

            : : If you have any uncertain feelings then maybe you could ask staight questions and receive straight answers...

            : (1)

            • Posted by Reinstatement Services, Inc. on August 14, 2002 at 09:47:22:

              In Reply to: Re: I've got a question. posted by ForeclosureVictims.net on August 14, 2002 at 00:25:39:

              your responses have to be on point and carry an air of authority. If not, then you open yourself up for major scrutiny.

              The fact that you disagree with a response is not at issue. Individuals disagree.

              As a self-purported expert, you are expected to go deeper and provide a solid basis for your position. A skilled expert will be able to do so while at the same time advancing other's perceptions regarding their knowledge and ability. In doing so, the expert evokes confidence and trust.

              Something like, "although it is difficult to predict whether a lender will pursue a deficiency judgment against you, Florida law dictates that a motion for deficiency must be filed within 1 year after entry of final judgment. Should a lender decide to pursue a deficiency judgment, then the possibility of long term repercussions as a result will definitely and negatively impact your future. Depending upon the state you are living in, you might be exposed to further agressive collection activity in your previous lender's attempt to recoup their loss."

              That response is less likely to receive question and goes a long way in solidifying your position as an authority.

              Don't take umbrage...people expect alot from leaders... And why shouldn't we? : (0)

          • Posted by Tinaj on August 13, 2002 at 22:19:07:

            In Reply to: Re: I've got a question. posted by Jim V on August 13, 2002 at 21:36:35:

            : Based on your example of a person losing a current home due to a past NY foreclosure deficiency, how did the homeowner purchase the new property?

            : I believe a lender in NY has 90 days from the foreclosure auction to seek a deficiency judgement, so the judgement should have been public record long before the homeowner could obtain financing for a new home purchase.

            : A cash purchase is unlikely, a conventional loan would normally require title insurance(which should have the judgement show up) and a take-over-payments kind of purchase wouldn't normally have any equity to justify the old lender's collection attempts.

            : I just can't figure how it could happen, perhaps you could spell it out for me?

            : : : ?? Why do you say that? What part of my post was not objective? The post was based on experience, when homeowner in NY state contacted us with foreclosure filed by her previous financial institution and it was based on old insufficiency judgement.

            : : If you have any uncertain feelings then maybe you could ask staight questions and receive straight answers...

            I think JimV pretty well covered the subject here. You don't seem to have any facts to back up your statements and your opinions. I am not an expert, I don't claim to be, and I don't have a website or a business to push here as you do. Why don't you buy an ad somewhere and explain what your company does? : (0)

  • Posted by JJD on August 08, 2002 at 23:11:14:

    In Reply to: I'm betting you don't have to worry. posted by Ward-CA- on August 08, 2002 at 21:29:57:

    : MY BIGGEST CONCERN IS THIS:: : After the foreclosure sale there will no doubt be a large deficiancy judgement against me. How long into the future will this judgement haunt me? Will I be liable for it for the rest of my life? You can bet I am going to fight back through every legal channel I possibly can, but I am expecting the worst. Does anybody have any suggestions?

    : =•=•=•=•=•=•=•=•=•=•=

    : Mike,

    : I think you’re a little too precipitous in assuming that your lender will pursue you for a deficiency after the foreclosure sale and final disposition of the property. In my experience they really don’t want to spend the time and money chasing around for a deficiency judgment against someone who has already demonstrated they are broke!!

    : My advice is to keep calm and wait for things to unfold.

    There are other options other than foreclosure which will reflect on your credit. Consider selling your house even if it is upside down.A Trust organization will pay 100% of the appraised value of the home. We offer a program that you may qualify for.If interested please notify me.jd53@attbi.com : (0)

  • Posted by Valerie (N. CA) on August 08, 2002 at 15:05:51:

    I have a seller who owes $450k she's (7) months behind on payments and the sale date is 8/13. The property is worth $500k. I'm looking for a partner. I have some ideas that might can work. If you are interested please email me.

    Valerievlconsulting@jps.net : (0)

  • Posted by Angelisa on August 08, 2002 at 12:42:37:

    Hi, me again. I received an email from someone who advised me to come back and post more information about my situation. I live in IOWA, my mortgages are around $80,000.00 and $40,000.00 which includes late fees, penalties, and interest for the last year in which I am behind. My house was purchased for $92,000.00 4 years ago in June 1998. Two years later, our taxes assessor raised our property taxes stating the value of our home had increased to $102,000.00 because of our fast growing community.Also, my husband and I are separated, with EVERY intention of divorcing, due to his drug and alcohol addictions. He was busted & convicted of OWI and Illegal possession twice within 44 days of each other almost 2 years ago. This is when my life was turned upside down. We had a very lucrative cleaning business that took a nose dive once he was busted the 2nd time. Me having been a stay at home Mom for the past 16 years, due to a disable child, had great difficulty taking over the business and wasn't able to maintain the clientelle on my own.I have an attorney who is filing bankruptcy for us, however, because of money difficulties, we haven't been able to file yet. She will also be representing me in my divorce case after the bankruptcy is finished. She's very good, but knows nothing of the United States Southern District Court, and government agency in regard to the foreclosure. Again, if anyone can help me, offer advice, or any information at all, please email me directtly at CrystalAngel62@aol.com. : (1)

    • Posted by Tinaj on August 13, 2002 at 22:24:26:

      In Reply to: Home Already Foreclosed on; PART 2 posted by Angelisa on August 08, 2002 at 12:42:37:

      You mentioned before that you can't get the BK filed because he isn't paying his share. Why should he? Is he a responsible person? Does he care? I don't think so!

      Have you discussed the gravity of your situation with your BK attorney? In light of all these problems, can't she go ahead and file it and let you pay her as you are able? Is there any way you can get the foreclosure papers and do it yourself? Try www.uslegalforms.com. I think it costs about $30. I helped a friend do that not too long ago, and if I can do it a monkey can do it.

      You or your attorney shoudl also look into getting a HUD loan if you have a govt-financed mortgage to cover the arrears in your mortgage. also if your attorney knows nothing about the US Southern District court, is she worth what you are paying her? : (0)

  • Posted by M.B. on August 07, 2002 at 19:48:21:

    The home next to mine is in foreclosure. There are multiple liens on it. The notice was posted, and the Mortage Co listed the owners and all the lein holders as parties. The mortage company wants $268,000. If this is bid (plus $1) at the sheriff's sale, does the title transfer with all the other leins? I am interested in buying the house, but don't know about the $ owed to the other parties. If you can help, let me know. Thanks. : (2)

    • Posted by Nick(Colorado) on August 10, 2002 at 15:47:07:

      In Reply to: Wi Foreclosure with liens on property- posted by M.B. on August 07, 2002 at 19:48:21:

      MB:

      First; JD please do not post mis-information. If a sale of this properly occurs at auction, liens juniorto the foreclosing lien will be wiped out. Liens seniorto the foreclosing lien will remain intact, and the responsibility of the purchaser. Some liens will not bewiped, regardless of data of recording, such as property taxes. Also some liens are "jumpers" in certain jurisdictions.These liens, such as child support, will generally beincluded in the minimum bid of the lender.

      : (0)

    • Posted by jd on August 10, 2002 at 02:54:17:

      In Reply to: Wi Foreclosure with liens on property- posted by M.B. on August 07, 2002 at 19:48:21:

      : The home next to mine is in foreclosure. There are multiple liens on it. The notice was posted, and the Mortage Co listed the owners and all the lein holders as parties. The mortage company wants $268,000. If this is bid (plus $1) at the sheriff's sale, does the title transfer with all the other leins? I am interested in buying the house, but don't know about the $ owed to the other parties. If you can help, let me know. Thanks.

      yes all liens against the home become your liability. : (0)

  • Posted by Angelisa on August 07, 2002 at 19:18:25:

    Hi, my home was foreclosed on July 19, 2002, by the USDA (United States Rural Housing and Agriculture Dept.) and a local bank. The Sheriff's Sale is set for Sept. 4th, 2002. It's my understanding that there is no stopping it now, is this correct? In addition, I need to know how long my children & I have before we are evicted out of our home, once our home is foreclosed on? I've never been homeless and am scared to death right now for my children. This is an S.O.S., I don't know what to do. Please help me. . . : (1)

    • Posted by Ward-CA- on August 08, 2002 at 09:52:31:

      In Reply to: Home already foreclosed on, now what? posted by Angelisa on August 07, 2002 at 19:18:25:

      : Hi, my home was foreclosed on July 19, 2002, by the USDA (United States Rural Housing and Agriculture Dept.) and a local bank. The Sheriff's Sale is set for Sept. 4th, 2002. It's my understanding that there is no stopping it now, is this correct? In addition, I need to know how long my children & I have before we are evicted out of our home, once our home is foreclosed on? I've never been homeless and am scared to death right now for my children. This is an S.O.S., I don't know what to do. Please help me. . .

      ===========

      Angelisa, you should receive a formal, written notice to vacate. So I'd start packing up those things you don't use too often and be prepared to move out within 15 to 30 days.

      What you really don't want to do is force someone to evict you since that will show up on your credit and discourage future landlords from renting to you.

      Good luck.

    • Incomparable, one-on-one foreclosure training
    : (0)

  • Posted by Jenny on August 02, 2002 at 16:01:58:

    Hey, does anyone know where to find "FREE foreclosure and default websites links"... for the "NEW YORK" area.

    : (0)


  • Posted by SUSAN CHMIEL on August 02, 2002 at 14:49:31:

    DOES THE CALIFORNIA FORECLOSURE TIME LINE APPLY FOR OWC PROPERTY? : (0)


  • Posted by D.M. on August 02, 2002 at 10:26:12:

    Hi there.. I have a first and second mortgage and we wish to sell the house. There is no way the house is going to sell for enough to pay out both mortgages. What will happen in this case? Does the second mortgage company have to be paid out in order to clear the property for the new owners or is that the risk they took when they agreed to the second mortgage? Also, is there anyway they can come back on us after the sale for the shortfall they experienced? Thank you for the help. : (0)


  • Posted by Kathy Smith on August 02, 2002 at 08:02:17:

    We have had numerous financial hardships over the past several years, have used up our savings, maxed out creditcards and made other poor financial decisions to bailourselves out of what we thought would be temporary circumstances. Now we are experiencing another lay-off and haveno more savings to cover our losses.

    We have a first and second mortgage and are upside down by about $25-30,000 dollars (due to real estate values falling.)

    Would we even be able to ask our mortgage companies for a deed-in-lieu?

    Would there be any way to sell our house and how would we make up the short fall?

    We are now behind over 30 days and have used up the mortgagecompany's one-time payment extension. We see no wayout of this. With no income, huge debt payments, and a house we cannot afford - we cannot continue on this way.

    Any suggestions would be appreciated. : (3)


    • Posted by Reinstatement Services, Inc. on August 02, 2002 at 11:35:07:

      In Reply to: Question about foreclosure posted by Kathy Smith on August 02, 2002 at 08:02:17:

      You might petition your lender for short sale or deed-in-leiu of foreclosure approval.

      Either of these will provide you with the remedy you seek while allowing you to avoid foreclosure. : (2)


      • Posted by Kathy Smith on August 02, 2002 at 12:49:36:

        In Reply to: Re: Question about foreclosure posted by Reinstatement Services, Inc. on August 02, 2002 at 11:35:07:

        Thank you for your reply. I read that you can't do a deed-in-lieu if you have a second mortgage. Is that true? Would I petition the second or both since the second is the one who would lose out on any sale.

        Thank you in advance. : (1)


        • Posted by Reinstatement Services, Inc. on August 02, 2002 at 13:05:27:

          In Reply to: Re: Question about foreclosure posted by Kathy Smith on August 02, 2002 at 12:49:36:

          Negotiate with the second to get the debt converted to an unsecured loan...tough, but it can be done particularly if the benefits from the lender's perspective, outweighs the disadvantages.

          Once done then you are free and clear to petition the first for a deed-in-lieu. : (0)


  • Posted by Andrew on August 01, 2002 at 23:28:22:

    I am looking for websites that don't charge a fee to access properties that are in default, about to default or pre-foreclosure.please email info instead of posting here thanks.Andrew : (0)


  • Posted by josephine on August 01, 2002 at 22:02:29:

    my mortgage has been sold 3 times since it was in pre-foreclosure with first co. who kept the money from my insurance co. to replace flooring and applied it to loan. half of the bottom story is without flooring, thereby unliveable. current mortgage co. says i'm only 1 or 2 months late. i'm assuming that until i get proper notice under texas law, i'll have enough time to get everything out. would rather sell. any suggestions or bidders? : (0)


  • Posted by TinaJ on August 01, 2002 at 19:36:39:

    like from 7/29 and 7/30??? There was something I wanted to look at and now it's gone...

    If anybody wants me, I'll be at the Home for the Terminally Confused. : (2)


    • Posted by Mykyla on August 01, 2002 at 22:31:21:

      In Reply to: am I losing it, or did some posts disappear from this board? posted by TinaJ on August 01, 2002 at 19:36:39:

      "If anybody wants me, I'll be at the Home for the Terminally Confused."

      Don't feel bad-if you're losing it so am I & I'll be taking the room right next to you; I just posted the other day and now it's gone! Thought maybe I broke some secret rule or something. Was just trying to learn more about how to go about trying to buy a home that's in the midst of foreclosure process.

      : (1)


      • Posted by TinaJ on August 01, 2002 at 23:04:08:

        In Reply to: Re: am I losing it... posted by Mykyla on August 01, 2002 at 22:31:21:

        : "If anybody wants me, I'll be at the Home for the Terminally Confused."

        : Don't feel bad-if you're losing it so am I & I'll be taking the room right next to you; I just posted the other day and now it's gone! Thought maybe I broke some secret rule or something. Was just trying to learn more about how to go about trying to buy a home that's in the midst of foreclosure process.

        : (0)


  • Posted by Sue Ann on August 01, 2002 at 18:46:30:

    we owe about $125,000 on our home. It retails at $160,000. Can we take out a second on our home, or re-finance with another company while we are in forclosure....? Am I just living in fantasy land? If either of these options are possible, would either do me any good right now..?thanks.......... : (1)


    • Posted by Reinstatement Services, Inc. on August 01, 2002 at 21:23:21:

      In Reply to: sorry.. another ? posted by Sue Ann on August 01, 2002 at 18:46:30:

      will always accomplish your goals, require the least amount of added expense, and provide you with a realistic remedy.

      Based on the information you've provided, Sue Ann, it would appear that there is further work that might still be done with your lender to bring about the resolution you desire.

      A third party mediator, such as RSI, will without a doubt be able to accomplish your goals and for a lot less than $750.

    • Default and Foreclosure Solutions through Skilled Mediation
    : (0)

  • Posted by Sue Ann on August 01, 2002 at 18:42:07:

    Hello...My husband and I filed a chapter 7 Bankruptcy in December of 2001. This helped with alot of our unsecured CC debt. Then my hubbys truck died. (was old and had no payments on it). Had to buy a new/used one, thus adding a hefty car payment. Had many bad circumstances and mistakes as well that caused us to fall behind in our mortgage payments. Bankruptcy department worked out a package for us, adding some of our backpay to each monthly payment. Last month we fell short and couldn't make the payment. Our work-out guy now says that if we can't pay by tomorrow, they will continue forclosure. (We won't have it by tomorrow..) I begged him for an extra week and he said no. I called "Forclosure Assistance Hotline" for info. They gave me some good info on how they work something out with our lender once forclosure has started. Iam so scarred. They charge a $750 fee. Is this a normal fee for these kinds of programs? I liked what they had to say on the phone, but how do you know if they are good? Are we even close to possibly being able to get a Loan modification? (Tacking it to the principle..) Has anyone been through this before, and can offer any advise...? ANY INFO appreciated. My e-mail is iluvstw@msn.com . Thanks so much.... I'm dying here... : (3)


    • Posted by TinaJ on August 01, 2002 at 19:41:59:

      In Reply to: Desperate for fast Advise/Losing our home.. :( posted by Sue Ann on August 01, 2002 at 18:42:07:

      I don't know but have seen this question asked before.There is a company that posts on here about foreclosure mediation - look down a bit and you are sure to see it. I wouldn't give $750 to these other people you mention without checking them out on the Ripoff Report or something similar. I'm sure the people who post here are reputable or they wouldn't be allowed to post here. also check out the home page for S.P.O.C.H. that one fo these people from here started - I dont have the website but you should be able to Google it.

      And for the experts here to help you, they will need to know what state you are in, and how many mortgage payments behind you are. These collection guys will tell you they're gonna foreclose tomorrow even if THEY know your state requires 90 days delinquency and then 2 tons of paperwork because YOU don't know that. Neither do I, but I have learned alot here.Good luck. Wish I was an expert, so i could help you, but someone else will.: Hello...: My husband and I filed a chapter 7 Bankruptcy in December of 2001. This helped with alot of our unsecured CC debt. Then my hubbys truck died. (was old and had no payments on it). Had to buy a new/used one, thus adding a hefty car payment. Had many bad circumstances and mistakes as well that caused us to fall behind in our mortgage payments. Bankruptcy department worked out a package for us, adding some of our backpay to each monthly payment. Last month we fell short and couldn't make the payment. Our work-out guy now says that if we can't pay by tomorrow, they will continue forclosure. (We won't have it by tomorrow..) I begged him for an extra week and he said no. I called "Forclosure Assistance Hotline" for info. They gave me some good info on how they work something out with our lender once forclosure has started. Iam so scarred. They charge a $750 fee. Is this a normal fee for these kinds of programs? I liked what they had to say on the phone, but how do you know if they are good? Are we even close to possibly being able to get a Loan modification? (Tacking it to the principle..) Has anyone been through this before, and can offer any advise...? ANY INFO appreciated. My e-mail is iluvstw@msn.com . Thanks so much.... I'm dying here...

      : (2)


      • Posted by TinaJ on August 01, 2002 at 23:05:07:

        In Reply to: can you file a ch. 13 that soon after filing a ch 7? posted by TinaJ on August 01, 2002 at 19:41:59:

        : I don't know but have seen this question asked before.: There is a company that posts on here about foreclosure mediation - look down a bit and you are sure to see it. I wouldn't give $750 to these other people you mention without checking them out on the Ripoff Report or something similar. I'm sure the people who post here are reputable or they wouldn't be allowed to post here. also check out the home page for S.P.O.C.H. that one fo these people from here started - I dont have the website but you should be able to Google it.

        : And for the experts here to help you, they will need to know what state you are in, and how many mortgage payments behind you are. These collection guys will tell you they're gonna foreclose tomorrow even if THEY know your state requires 90 days delinquency and then 2 tons of paperwork because YOU don't know that. Neither do I, but I have learned alot here.: Good luck. Wish I was an expert, so i could help you, but someone else will.: : Hello...: : My husband and I filed a chapter 7 Bankruptcy in December of 2001. This helped with alot of our unsecured CC debt. Then my hubbys truck died. (was old and had no payments on it). Had to buy a new/used one, thus adding a hefty car payment. Had many bad circumstances and mistakes as well that caused us to fall behind in our mortgage payments. Bankruptcy department worked out a package for us, adding some of our backpay to each monthly payment. Last month we fell short and couldn't make the payment. Our work-out guy now says that if we can't pay by tomorrow, they will continue forclosure. (We won't have it by tomorrow..) I begged him for an extra week and he said no. I called "Forclosure Assistance Hotline" for info. They gave me some good info on how they work something out with our lender once forclosure has started. Iam so scarred. They charge a $750 fee. Is this a normal fee for these kinds of programs? I liked what they had to say on the phone, but how do you know if they are good? Are we even close to possibly being able to get a Loan modification? (Tacking it to the principle..) Has anyone been through this before, and can offer any advise...? ANY INFO appreciated. My e-mail is iluvstw@msn.com . Thanks so much.... I'm dying here...

        : (1)


        • Posted by Sue Ann on August 02, 2002 at 00:14:30:

          In Reply to: RSI as noted above is the co. I was tryign to tell you about here. posted by TinaJ on August 01, 2002 at 23:05:07:

          My original question is below... LisaJ. informed me to be more specific about this info.. (Thank you so much Lisa! Its so nice to meet people who care who don't even know you..ALso big thanks to the others...)Our state is California. We are in a work out already w/ the lenders, we are about 4 months behind. (froIts so hard to explain how late we are. When we started the work out we had about 5 months in back pay owed. Then they had us pay about $3000 up front, then added $450 to our regular $950 payment, until december. Making our workout payments $1400. We were unable to pay June, and July will be late as of the 16th, but they won't take June without July..... Now what?.....Sue Ann





          : : I don't know but have seen this question asked before.: : There is a company that posts on here about foreclosure mediation - look down a bit and you are sure to see it. I wouldn't give $750 to these other people you mention without checking them out on the Ripoff Report or something similar. I'm sure the people who post here are reputable or they wouldn't be allowed to post here. also check out the home page for S.P.O.C.H. that one fo these people from here started - I dont have the website but you should be able to Google it.

          : : And for the experts here to help you, they will need to know what state you are in, and how many mortgage payments behind you are. These collection guys will tell you they're gonna foreclose tomorrow even if THEY know your state requires 90 days delinquency and then 2 tons of paperwork because YOU don't know that. Neither do I, but I have learned alot here.: : Good luck. Wish I was an expert, so i could help you, but someone else will.: : : Hello...: : : My husband and I filed a chapter 7 Bankruptcy in December of 2001. This helped with alot of our unsecured CC debt. Then my hubbys truck died. (was old and had no payments on it). Had to buy a new/used one, thus adding a hefty car payment. Had many bad circumstances and mistakes as well that caused us to fall behind in our mortgage payments. Bankruptcy department worked out a package for us, adding some of our backpay to each monthly payment. Last month we fell short and couldn't make the payment. Our work-out guy now says that if we can't pay by tomorrow, they will continue forclosure. (We won't have it by tomorrow..) I begged him for an extra week and he said no. I called "Forclosure Assistance Hotline" for info. They gave me some good info on how they work something out with our lender once forclosure has started. Iam so scarred. They charge a $750 fee. Is this a normal fee for these kinds of programs? I liked what they had to say on the phone, but how do you know if they are good? Are we even close to possibly being able to get a Loan modification? (Tacking it to the principle..) Has anyone been through this before, and can offer any advise...? ANY INFO appreciated. My e-mail is iluvstw@msn.com . Thanks so much.... I'm dying here...

          : (0)


  • Posted by Chuck and Teresa on August 01, 2002 at 14:21:12:

    Teresa's husband has left the state. Her home is listed for $205K, she owes $184K, her realtor says it is marketable at $189K. The home is a small,4-5 yr old 3bdrm rambler in the Lake Stevens, Washington area. Teresa cannot keep the house and can't make the payments. She does not need/want to declare bankruptcy. She has not talked to her lender yet. Heer Realtor is credable and will help by taking a smaller percentage. She needs help, we are beginners. Please help with details. : (1)


    • Posted by jason moch on August 01, 2002 at 17:38:32:

      In Reply to: We need to get out from under posted by Chuck and Teresa on August 01, 2002 at 14:21:12:

      : Teresa's husband has left the state. Her home is listed for $205K, she owes $184K, her realtor says it is marketable at $189K. The home is a small,4-5 yr old 3bdrm rambler in the Lake Stevens, Washington area. Teresa cannot keep the house and can't make the payments. She does not need/want to declare bankruptcy. She has not talked to her lender yet. Heer Realtor is credable and will help by taking a smaller percentage. She needs help, we are beginners. Please help with details.

      : (0)


  • Posted by Alison on August 01, 2002 at 06:17:18:

    My ex's house is being foreclosed on and in the paper they listed my name as one of the people. (Ex. Bank of... vs. John Doe, Benefit mutual, Jane Doe) He never owned this house when we were married and I have nothing to do with it. He said lawyer said my name was listed because he pays me child support. I'm wondering if I am legally liable for something because my name was listed in the paper. : (1)


    • Posted by njdave on August 01, 2002 at 08:17:53:

      In Reply to: Exhubby in foreclosure, why is my name listed? posted by Alison on August 01, 2002 at 06:17:18:

      Since you are a "creditor" and your ex-husband's asset is in jeopardy... you have been notifed.Doesn't sound like you have an exposure to liability.... : (0)


  • Posted by ThomasR on August 01, 2002 at 04:19:24:

    There is a Big $ REI SEMINAR being offered on Ebay. Are any of you familiar with this? Opinions please! I'd like some info before I bid. There's only a few spots left. It's a live teleseminar and only $97!

    This is the link:

    Please pass me some info before it's sold out! Thanks & God BlessThomasR : (2)


    • Posted by Jim V on August 01, 2002 at 17:21:39:

      In Reply to: Big $ REI SEMINAR INFO Please posted by ThomasR on August 01, 2002 at 04:19:24:

      After a quick look, it appeared the seminar was being produced by Bryan Ellis. I have never heard of him.

      I didn't see any relationship between the seminar and Bill Bronchick or Ron LeGrand. I have heard of both of them.

      Perhaps I missed the connection by quickly skimming through all the hype, if there is one, please let me know, I'll take a closer look.

      My personal belief is that heavily hyped programs will often be short on solid information. It's called "selling the sizzle, not the steak". : (1)


      • Posted by ThomasR on August 01, 2002 at 21:40:01:

        In Reply to: Re: Teleseminar posted by Jim V on August 01, 2002 at 17:21:39:

        Thank You Jim V.TR

        : After a quick look, it appeared the seminar was being produced by Bryan Ellis. I have never heard of him.

        : I didn't see any relationship between the seminar and Bill Bronchick or Ron LeGrand. I have heard of both of them.

        : Perhaps I missed the connection by quickly skimming through all the hype, if there is one, please let me know, I'll take a closer look.

        : My personal belief is that heavily hyped programs will often be short on solid information. It's called "selling the sizzle, not the steak".

        : (0)


  • Posted by Sophie on August 01, 2002 at 03:48:41:

    My dad died 12/01; has own business - purchased property in 1998 owes $350,000. Bank/SBA loan on business property - secured by business property with a "deed of trust" on residence. Prior wife has "deed of trust w/rents" to secure her 1/2 interest in business at time of divorce in 1996. If business can't pay her for any reason, she can foreclose on residence to get rest of money owed - $65,000. Question: if she forecloses (her attachment to residence was 1st), what can the bank do, if anything? Can they override her lien? What will likely happen? I know this is complicated but any insight will be much appreciated!!! Thank you. : (0)


  • Posted by laurie on July 28, 2002 at 13:20:17:

    we had a foreclosure in april of 99 due to a default in a land contract(we sold the house under the land contract and she defaulted)we had sold in july of 97 and she defaulted around early 98..we were in erie pa and house was in norfolk va.we scurried to get renters in so we could keep up the payments, within 6 months they had destroyed the house..no running water,roaches,holes in the wall ect.we finally got good renters in oct of 98and to our utter dismay found that the previous renters had somehow broke the furnace(it was an old boiler type that used gravity to heat the place)at this point we had exhausted all financial resources and had to let the house go.other than the foreclosure our credit is very good(got a fico of 681 even with foreclosure which we feel is pretty good)we are now looking at an fha mortgage at 6.75 interest with 1/4 point and we are approved contigent on hard evidence of the extenuating circumstances of our foreclosure.our old realtor is sending all documents including pics of the house and copies of the judgements against the original land contract owner and the 1st set of tenents.i just wanted to share with you all that there is life after foreclosure and to keep all documents and dealings with the bank(during the foreclosure) so that in the future when the new lender wants proof of any problems ...you will have them.i only hope my realtor kept everything...i will keep you posted as to our progress..good luck to all others : (1)


    • Posted by Jim V on July 28, 2002 at 15:05:51:

      In Reply to: home hunting again posted by laurie on July 28, 2002 at 13:20:17:

      Laurie,

      Thanks for the story pointing out, in real life, that there is life after foreclosure. Those of us that post now and again can provide information, opinions and possibly some direction, it's nice to see some validation of that information posted.

      You make a very good point about documentation, everything in a foreclosure/deed in lieu/short sale process should be documented and saved. It's important for the "life after" part.

      Congatulations, and thanks again.

      Jim V



      : we had a foreclosure in april of 99 due to a default in a land contract(we sold the house under the land contract and she defaulted)we had sold in july of 97 and she defaulted around early 98..we were in erie pa and house was in norfolk va.we scurried to get renters in so we could keep up the payments, within 6 months they had destroyed the house..no running water,roaches,holes in the wall ect.we finally got good renters in oct of 98and to our utter dismay found that the previous renters had somehow broke the furnace(it was an old boiler type that used gravity to heat the place)at this point we had exhausted all financial resources and had to let the house go.other than the foreclosure our credit is very good(got a fico of 681 even with foreclosure which we feel is pretty good)we are now looking at an fha mortgage at 6.75 interest with 1/4 point and we are approved contigent on hard evidence of the extenuating circumstances of our foreclosure.our old realtor is sending all documents including pics of the house and copies of the judgements against the original land contract owner and the 1st set of tenents.i just wanted to share with you all that there is life after foreclosure and to keep all documents and dealings with the bank(during the foreclosure) so that in the future when the new lender wants proof of any problems ...you will have them.i only hope my realtor kept everything...i will keep you posted as to our progress..good luck to all others

      : (0)


  • Posted by Chris Miller on July 28, 2002 at 11:40:00:

    I need foreclosures & pre-forclosure lists for the Chicago and surounding western suburbs. Also in Bloomington Normal, Decatur and Springfield IL areas, any single family and Multi-units. Along with finacial institutions that specialize in lending to investors. Thank You,Chris : (0)


  • Posted by PMorrison on July 27, 2002 at 12:20:17:

    7/00 lender snt foreclosure notice. I worked out paymnts w/them.

    I was late on a paymnt and they revoked the agreement.

    The loan was then sold to another bank.

    New lender worked out another payment agreemnt w/me.

    The agreemnt said the foreclosure was ‘suspended’

    I was going to be late on the last payment, and notified lender.

    They said okay. (by phone)

    Jan 02 my house was sold at auction. I did not know this took place. Nor did I know the foreclosure was still there.

    1. I made the last payment the day after sale. Lender accepted and still has funds.2. Lender did not notify trustee of new agreement3. I have never received excess funds from sale4. The foreclosure was postponed for over 20 months.

    Do I have any recourse?pm : (1)


    • Posted by njdave on July 27, 2002 at 16:56:11:

      In Reply to: need advice posted by PMorrison on July 27, 2002 at 12:20:17:

      What state? Primary residence? Ist or 2nd mortgagee foreclosed? Still in possession?

      Carefully prepare a chronology supported by documents (Forbearance Agreement, Monthly Statements, cancelled checks, etc.)

      Insert dates (initial foreclosure notification, Workout Agreement, mortgage assignment, et.)

      Then, contact us. Maybe we can help make sense of what has happened.

    • non profit org may offer help
    : (0)

  • Posted by Carol on July 26, 2002 at 22:03:41:

    My sister and her boyfriend are wanting to buy a home. My sister has poor credit. My father is willing to loan her $35,000 down payment for the home. We just found out that due to her poor credit, she is not on the loan. She claims that her boyfriend will get the loan using her father's down payment and they both will be on the deed. Can this be true? I thought that the payee on the loan was the only one allowed to be on the deed/title until it was paid in full or refinanced.

    What would be the best way for my father to protect his $35,000 (besides keeping it)and how could she protect the money she pays him during their relationship (they do plan to get married ... Riiight....) Are deed holders equal or in %.

    Any help on this would be greatly appreciated!!

    Cheers!

    Carol

    : (1)


    • Posted by Jim V on July 28, 2002 at 14:44:37:

      In Reply to: Can a deed have additional names even though only 1 person has the loan? posted by Carol on July 26, 2002 at 22:03:41:

      There are no real hard rules regarding who can be (or will be) on title when a loan is taken out. Individual lender underwriting guidelines vary considerably.

      If it is not possible for your sister to be a co-signer on the loan due to credit issues, she could be added to title after the loan is taken out.

      Rather than "gifting" funds to the boyfriend prior to purchase and having your sister added to title after the purchase, I think it would probably be better to do boyfriend and father purchasing the property together with the father as a non-occupying co-borrower. After purchase, he could quit-claim his interest to your sister. Fathers credit would be on the hook until sister and boyfriend could re-fi into their names in a year or two if she cleans up her credit.

      My honest feeling is this is one of those transactions that shouldn't be done. If sister cleans her credit up, gets married and stays married for a while, then maybe father could consider a helping hand.

      : My sister and her boyfriend are wanting to buy a home. My sister has poor credit. My father is willing to loan her $35,000 down payment for the home. We just found out that due to her poor credit, she is not on the loan. She claims that her boyfriend will get the loan using her father's down payment and they both will be on the deed. Can this be true? I thought that the payee on the loan was the only one allowed to be on the deed/title until it was paid in full or refinanced.

      : What would be the best way for my father to protect his $35,000 (besides keeping it)and how could she protect the money she pays him during their relationship (they do plan to get married ... Riiight....) Are deed holders equal or in %.

      : Any help on this would be greatly appreciated!!

      : Cheers!

      : Carol

      :

      : (0)


  • Posted by kris on July 26, 2002 at 16:38:16:

    I am 2 months behind, have sold the home its now in escrow. My lender refuses to accept any payments unless I pay them in full. They have given me a date to make this payment. If I do not my loan will go into preforclosure. What will happen with the sale of the home? My biggest problem is with how rude I am being treated, I was told if I did not comply they would excelerate the process and I would lose all proceeds from my home. Can they do that? : (1)


    • Posted by njdave on July 26, 2002 at 19:24:21:

      In Reply to: can they do that posted by kris on July 26, 2002 at 16:38:16:

      Hopefully, your transaction will proceed to closing without any glitches. If, for some reason your Buyers can't perform and close soon, you might be in some hot water with your mortgagee. If you don't bring the loan current within their timeframe, you may incur some additional, foreclosure related costs if the loan is sent to their 'collections and/or legal' department. : (0)


  • Posted by kylie on July 26, 2002 at 11:21:00:

    We have been looking to purchase in LA for over 6 months. Not only is the market over heated at present, but we need a large flat back yard. The homes sell nearly as quickly as they come on the market, if not before. Asking prices are often outrageous. Has anyone been successful buying at a good value price in this market over the last 12 months?? : (0)


  • Posted by Pam on July 26, 2002 at 00:19:16:

    Here is what we are facing. When the terrorist attack hit in NY Sept 11 the place where my husband was working took a dive. My husband made several attempts to call the bank to let them know why he was having difficulty in paying his mortgage, he could never talk to a human being, all he kept getting was a recorder. Finally when he did talk to someone they told him to contact his lender (The man who got him the loan). Of course the lender never returned his calls. Finally when he did return my husband's call my husband told him what was going on. The lender told my husband to sit tight and he would get back in touch with him, well, he never did. In March our house went to auction which the bank bought the house back. Now here is where I am freaking. My husband called the realtor who we found our house through. The realtor told my husband to put our house up for sale. He said it wasn't to late to do this. Well, on August 8th my husband has to go to court I guess to make this foreclosure a done deal. If my husband tells the judge our house is up for sale will the judge tell him it is to late???? Do we still stand a chance or has that been blown??? I haven't been sleeping, can't eat and all I have been doing is crying. This is nothing but a nightmare!!!! PLEASE SOMEONE GIVE ME SOME ADVICE THAT COULD POSSIBLY WORK IN OUR FAVOR. Thank you. : (1)


    • Posted by Joe Daujotas on July 28, 2002 at 22:58:18:

      In Reply to: MD Foreclosure - WORRIED SICK, PLEASE CALM ME DOWN posted by Pam on July 26, 2002 at 00:19:16:

      : Here is what we are facing. When the terrorist attack hit in NY Sept 11 the place where my husband was working took a dive. My husband made several attempts to call the bank to let them know why he was having difficulty in paying his mortgage, he could never talk to a human being, all he kept getting was a recorder. Finally when he did talk to someone they told him to contact his lender (The man who got him the loan). Of course the lender never returned his calls. Finally when he did return my husband's call my husband told him what was going on. The lender told my husband to sit tight and he would get back in touch with him, well, he never did. In March our house went to auction which the bank bought the house back. Now here is where I am freaking. My husband called the realtor who we found our house through. The realtor told my husband to put our house up for sale. He said it wasn't to late to do this. Well, on August 8th my husband has to go to court I guess to make this foreclosure a done deal. If my husband tells the judge our house is up for sale will the judge tell him it is to late???? Do we still stand a chance or has that been blown??? I haven't been sleeping, can't eat and all I have been doing is crying. This is nothing but a nightmare!!!! PLEASE SOMEONE GIVE ME SOME ADVICE THAT COULD POSSIBLY WORK IN OUR FAVOR. Thank you.

      It is late to save your house. With the auction to occur on 8/8, however, we buy homes and try to work out a deal that is fair based upon the conditions. The process can take up to 3 -4 days.If interested, please answer the following questtions and call me at 847-571-0765.If I am not available, please leave message with name and phone # where I can return the call. and best time to reach you.Thanks Here are some questions:What's the house worth?What do you want for it?When was the mortgage initiated?Balance on mortgage?Monthly payments?Interest Rate?Is mortgage assumable?How many months behind in payments are you?What are the attorney fees? : (0)


  • Posted by aly on July 22, 2002 at 23:27:13:

    ineed some honest advise. Want quickest way out of home. Initial home loan soley under husband and 2nd equity loan himself and brother-in-law. home valued presently at around 178,000. around 132,000 owed on initial loan and 16,000 on second. so 148,000. home needs about 10,000 in repairs, with the siding being the major expense. i am tired of working 2 jobs just for a nice roof over my head. husband is out of picture for 2 years now, but i have POA, so legally can sign. i am not interested in making money off it, just want out. i think i could just let it go since its not under me? : (3)


    • Posted by Trinity Consulting on July 28, 2002 at 23:06:12:

      In Reply to: try to sell? posted by aly on July 22, 2002 at 23:27:13:

      : ineed some honest advise. Want quickest way out of home. Initial home loan soley under husband and 2nd equity loan himself and brother-in-law. home valued presently at around 178,000. around 132,000 owed on initial loan and 16,000 on second. so 148,000. home needs about 10,000 in repairs, with the siding being the major expense. i am tired of working 2 jobs just for a nice roof over my head. husband is out of picture for 2 years now, but i have POA, so legally can sign. i am not interested in making money off it, just want out. i think i could just let it go since its not under me?

      am interested in purchasing your home.please call 847-571-0756 to investigate further.thanks : (0)


    • Posted by New Vision Properties on July 25, 2002 at 17:47:05:

      In Reply to: try to sell? posted by aly on July 22, 2002 at 23:27:13:

      : ineed some honest advise. Want quickest way out of home. Initial home loan soley under husband and 2nd equity loan himself and brother-in-law. home valued presently at around 178,000. around 132,000 owed on initial loan and 16,000 on second. so 148,000. home needs about 10,000 in repairs, with the siding being the major expense. i am tired of working 2 jobs just for a nice roof over my head. husband is out of picture for 2 years now, but i have POA, so legally can sign. i am not interested in making money off it, just want out. i think i could just let it go since its not under me?

      : (1)


      • Posted by New Vision Properties on July 25, 2002 at 17:48:36:

        In Reply to: Re: try to sell? posted by New Vision Properties on July 25, 2002 at 17:47:05:

        : : ineed some honest advise. Want quickest way out of home. Initial home loan soley under husband and 2nd equity loan himself and brother-in-law. home valued presently at around 178,000. around 132,000 owed on initial loan and 16,000 on second. so 148,000. home needs about 10,000 in repairs, with the siding being the major expense. i am tired of working 2 jobs just for a nice roof over my head. husband is out of picture for 2 years now, but i have POA, so legally can sign. i am not interested in making money off it, just want out. i think i could just let it go since its not under me?

        Please e-mail us directly or call (817) 444 -0123 as we may be interested in your house. Thank -you : (0)


  • Posted by joe on July 22, 2002 at 19:52:09:

    once i make a counteroffer am i locked in to sell at that price?the only paper i signed was the counteroffer : (0)


  • Posted by joe on July 22, 2002 at 19:47:47:

    someone offered 115,000.00 for my house and i countered with 121,000.00 ifthey accept am i obligated to sell to them or can i back out.the only paper i signed to my knowledge was the counteroffer : (1)


    • Posted by Jim V on July 28, 2002 at 14:53:45:

      In Reply to: price locked in ??? posted by joe on July 22, 2002 at 19:47:47:

      If you listed your property with a Realtor, you probably signed quite a few other documents. Standardized documents usually used by Realtors spell out your obligations.

      If you were not using standardized forms, it's impossible to guess what could be in the contract.

      If you used a Realtor, ask them what your options are. If you didn't use a Realtor or maybe even if you did, consult with a local attorney regarding your obligations. Consultations are very cheap considering the total amount of money involved in a home sale.



      : someone offered 115,000.00 for my house and i countered with 121,000.00 ifthey accept am i obligated to sell to them or can i back out.the only paper i signed to my knowledge was the counteroffer

      : (0)


  • Posted by Kendra on July 22, 2002 at 00:19:14:

    I got a list for a Texas auction for homes that will be auctioned in a couple of weeks. This preforclosure list states the minimum bid amount for the properties. Is this the amount that is owned on the property or just the amount needed to bring the mortgage up to date? Will I also have to pay the remaining balance on the mortgage. In other will I be able to get a house for $12,000 before it goes to the auction. : (0)


  • Posted by Heather on July 21, 2002 at 22:43:39:

    My husband and I have been trying to sell our mobile home (we owe $52k-selling for $59k) for the last 4 months. We only had 1 person look at our house. There are also 10 more houses in our park that are trying to sell their houses too (and no luck).

    My question is what if we took my name off our house loan and foreclosed. Then bought a new house (an hour closer to work) under my name. Does foreclosure count against just the person that foreclosed...or if your married...both of you?

    any thoughts? : (1)


    • Posted by tina on July 22, 2002 at 20:55:36:

      In Reply to: Refinance in husband's name (then foreclose) & buy new house in mine name? posted by Heather on July 21, 2002 at 22:43:39:

      through a refinance. I know this (I think....) because when I got divorced my ex was all hot and bothered to have me refinance the house, which I kept after paying him half the equity, to get his name off the mortgage. He signed a quit claim deed in the divorce settlement, but his name didn't come off the mortgage till that mortgage was paid off.

      Of course, I let him stew in his own alcoholically marinated juice for a good long spell until I did it.

      But as far as I know that's nationwide, not just in my state, because I've seen the question on these boards before about how to get someone's name off a mortgage after divorce, and that's what they always say. Probably the mortgage companies figured out that people could do what you wanted to do and beat you to it?

      Can you rent your trailer, maybe with an option to buy? : (0)


  • Posted by Urn- WA State on July 21, 2002 at 13:32:38:

    We originally were going to buy this home from the owners until we found out about the foreclosures. 1st is for $280K and 2nd is for $50K. Two different banks. Current owners/occupants have gone through BK11 and BK7. The foreclosure on the 2nd is this Friday. The foreclosure on the 1st in a week later.

    Bank with 2nd is willing to purchase 1st knowing that we are potential buyers. Bank with 2nd has offered to help us with $$ for the Sheriff's Sale this Friday or we can purchase home from Bank with 2nd after Friday using a standard home loan. Option 2 would increase cost by $7K due to excise tax.

    Questions:1. Which is the "smoother" process (sheriff's vs. purchase from bank)?2. How long do the owners/occupants have to vacate?3. How willing would these banks be to Short knowing that there was a potential buyer (us) at market cost?4. Could the current owners/occu squeeze us at the Sheriff's Sale?

    Thank you! : (0)


  • Posted by Kevin on July 21, 2002 at 10:01:59:

    Hello everyone,

    To sum up; I was laid off at the beginning of the year and was heavily in debt. I filed Ch. 7, but kept current on the house payments until April/May, when I stopped paying the 2nd, which was a 125% LTV loan. The first has always been paid. Incidentally, the 2nd appears to think I'm still in Ch 7. proceedings, as they haven't sent a statement at all in a few months, and when I called them back in May they said they just received some bankruptcy paperwork, though I had been discharged by then.

    I have finally found a new job, but at 1/2 the salary and in another town, so I have to relocate. I can't afford to make two payments, and how will the house sell when the equity won't pay off both loans? Would it be possible to get a loan on something like a mobile or manufactured home while I'm in this mess? How does one sell a home in this situation, and without making the monthly payment?

    Thanks for any help,

    Kevin : (4)


    • Posted by njdave on July 21, 2002 at 12:05:25:

      In Reply to: Home w/2nd mortgage, have to relocate, what to do? posted by Kevin on July 21, 2002 at 10:01:59:

      A short sale (lender agrees to a sale whose proceeds are insufficient to satisfy all mortgage debt and would agree to accept less than they are due) would be my typical response. However, to qualify for a 125% LTV mortgage loan, you must have had some other assets. If that's the case, it'll be a bit more difficult (if at all possible) to get mortgagee's approval for a short sale... without having you make a contribution of some sort toward the shortfall. Perhaps you should have another discussion with your bankruptcy attorney.

      ===========

      : Hello everyone,

      : To sum up; I was laid off at the beginning of the year and was heavily in debt. I filed Ch. 7, but kept current on the house payments until April/May, when I stopped paying the 2nd, which was a 125% LTV loan. The first has always been paid. Incidentally, the 2nd appears to think I'm still in Ch 7. proceedings, as they haven't sent a statement at all in a few months, and when I called them back in May they said they just received some bankruptcy paperwork, though I had been discharged by then.

      : I have finally found a new job, but at 1/2 the salary and in another town, so I have to relocate. I can't afford to make two payments, and how will the house sell when the equity won't pay off both loans? Would it be possible to get a loan on something like a mobile or manufactured home while I'm in this mess? How does one sell a home in this situation, and without making the monthly payment?

      : Thanks for any help,

      : Kevin

      : (3)


      • Posted by Kevin Ragsdale on July 21, 2002 at 18:35:22:

        In Reply to: Re: Home w/2nd mortgage, have to relocate, what to do? posted by njdave on July 21, 2002 at 12:05:25:

        Hmm. The 2nd mortgage company just did an appraisal on the house. They didn't ask about any other assets. It was for bill consolidation, which turned out to be a big mistake since I could've discharged it all under Ch. 7; that's all in hindsight though, as I didn't foresee bankruptcy and a layoff in my future when I did this.

        : A short sale (lender agrees to a sale whose proceeds are insufficient to satisfy all mortgage debt and would agree to accept less than they are due) would be my typical response. However, to qualify for a 125% LTV mortgage loan, you must have had some other assets. If that's the case, it'll be a bit more difficult (if at all possible) to get mortgagee's approval for a short sale... without having you make a contribution of some sort toward the shortfall. Perhaps you should have another discussion with your bankruptcy attorney.

        : ===========

        : : Hello everyone,

        : : To sum up; I was laid off at the beginning of the year and was heavily in debt. I filed Ch. 7, but kept current on the house payments until April/May, when I stopped paying the 2nd, which was a 125% LTV loan. The first has always been paid. Incidentally, the 2nd appears to think I'm still in Ch 7. proceedings, as they haven't sent a statement at all in a few months, and when I called them back in May they said they just received some bankruptcy paperwork, though I had been discharged by then.

        : : I have finally found a new job, but at 1/2 the salary and in another town, so I have to relocate. I can't afford to make two payments, and how will the house sell when the equity won't pay off both loans? Would it be possible to get a loan on something like a mobile or manufactured home while I'm in this mess? How does one sell a home in this situation, and without making the monthly payment?

        : : Thanks for any help,

        : : Kevin

        : (2)


        • Posted by Trinity on July 28, 2002 at 23:44:19:

          In Reply to: Re: Home w/2nd mortgage, have to relocate, what to do? posted by Kevin Ragsdale on July 21, 2002 at 18:35:22:

          : Hmm. The 2nd mortgage company just did an appraisal on the house. They didn't ask about any other assets. It was for bill consolidation, which turned out to be a big mistake since I could've discharged it all under Ch. 7; that's all in hindsight though, as I didn't foresee bankruptcy and a layoff in my future when I did this.

          : : A short sale (lender agrees to a sale whose proceeds are insufficient to satisfy all mortgage debt and would agree to accept less than they are due) would be my typical response. However, to qualify for a 125% LTV mortgage loan, you must have had some other assets. If that's the case, it'll be a bit more difficult (if at all possible) to get mortgagee's approval for a short sale... without having you make a contribution of some sort toward the shortfall. Perhaps you should have another discussion with your bankruptcy attorney.

          : : ===========

          : : : Hello everyone,

          : : : To sum up; I was laid off at the beginning of the year and was heavily in debt. I filed Ch. 7, but kept current on the house payments until April/May, when I stopped paying the 2nd, which was a 125% LTV loan. The first has always been paid. Incidentally, the 2nd appears to think I'm still in Ch 7. proceedings, as they haven't sent a statement at all in a few months, and when I called them back in May they said they just received some bankruptcy paperwork, though I had been discharged by then.

          : : : I have finally found a new job, but at 1/2 the salary and in another town, so I have to relocate. I can't afford to make two payments, and how will the house sell when the equity won't pay off both loans? Would it be possible to get a loan on something like a mobile or manufactured home while I'm in this mess? How does one sell a home in this situation, and without making the monthly payment?

          : : : Thanks for any help,

          : : : Kevin

          May be able to help you. Need alot more information. I have worked out many difficult situations, need more details. Please contact me.847-571-0765. If not available, leave best time to reach you. : (0)


        • Posted by njdave on July 22, 2002 at 08:07:11:

          In Reply to: Re: Home w/2nd mortgage, have to relocate, what to do? posted by Kevin Ragsdale on July 21, 2002 at 18:35:22:

          Pursue a short sale as described above, or revisit bankruptcy : (0)


  • Posted by Steve H on July 20, 2002 at 16:25:07:

    The bank has refused to renew my equity line and has started foreclosure. my question is would they have to payoff the first in order to go to sheriff's sale? House is located in MI. : (3)


    • Posted by Trinity on July 28, 2002 at 23:48:44:

      In Reply to: 2nd foreclosure behind a $980,000 in good standing posted by Steve H on July 20, 2002 at 16:25:07:

      : The bank has refused to renew my equity line and has started foreclosure. my question is would they have to payoff the first in order to go to sheriff's sale? House is located in MI.

      If you are interested in selling, I can assist.If you want to stay in the home, I may have options for you. Please call 847-571-0765 - Joe : (0)


    • Posted by New Vision Properties on July 21, 2002 at 09:15:26:

      In Reply to: 2nd foreclosure behind a $980,000 in good standing posted by Steve H on July 20, 2002 at 16:25:07:

      : The bank has refused to renew my equity line and has started foreclosure. my question is would they have to payoff the first in order to go to sheriff's sale? House is located in MI.

      Hi Steve, If you can e-mail us personally at webynsell@aol.com , if you like to sell this property or give us a call at (817) 444 - 0123 . We may be interested in buying it. : (0)


    • Posted by Ward-CA- on July 21, 2002 at 06:56:32:

      In Reply to: 2nd foreclosure behind a $980,000 in good standing posted by Steve H on July 20, 2002 at 16:25:07:

      : The bank has refused to renew my equity line and has started foreclosure. my question is would they have to payoff the first in order to go to sheriff's sale? House is located in MI.==============================================

      Steve,

      Any lienholder in any position can foreclose on its lien without having to pay off any liens senior to theirs.

      As a consequence when the sale takes place the title delivered to the highest bidder will be subject to such senior liens remaining of record.

      Hope this helps.

      : (0)


  • Posted by Tom on July 19, 2002 at 20:41:30:

    Hello. I am having some serious problems. Three yearsago my parents and I put a $10,000 downpayment ona $87,000 3 bedroom house in Racine, Wisconsin. The balance now is $69,000. The loan is in my name and nobody else signed but me. Now here is the sticky situation. Eight months ago I almost died of CO2 poisoning and ended up on a ventilator which I still need. I am also in a wheelchair. My parents lost their jobs becaused they were in the hospital with me for 3 months helping me get through the shock of my condition. Anyway, We moved to La Crosse, Wisconsin 3 months ago for specialized healthcare for me. We are renting a place here. Now my dad is also disabled and can't work and my mother can't work since I need 24 hour care. So here we are paying rent and a mortgage at the same time and trying to sell the house to break even. My dad did a lot of concrete work and put in a ramp, 8 foot tall fence, and a big iron gate. The house is not getting any offers and I can't pay another payment. Since I will never be well enough to work and can care less about credit I want to just abandon it and let the mortgage co. deal with it. They won't get a cent from me and they can't touch my SSI. If I could find someone to buy it quick I would let it go for the balance and be willing to lose the equity and down payment. I would appreciate some advice. I only have 20 days left until the next payment due date. Thanks a lot. : (6)


    • Posted by Trinity Consulting on July 28, 2002 at 23:17:59:

      In Reply to: Don't want to pay mortgage and house not sold yet after 3 months posted by Tom on July 19, 2002 at 20:41:30:

      : Hello. I am having some serious problems. Three years: ago my parents and I put a $10,000 downpayment on: a $87,000 3 bedroom house in Racine, Wisconsin. The balance now is $69,000. The loan is in my name and nobody else signed but me. Now here is the sticky situation. Eight months ago I almost died of CO2 poisoning and ended up on a ventilator which I still need. I am also in a wheelchair. My parents lost their jobs becaused they were in the hospital with me for 3 months helping me get through the shock of my condition. Anyway, We moved to La Crosse, Wisconsin 3 months ago for specialized healthcare for me. We are renting a place here. Now my dad is also disabled and can't work and my mother can't work since I need 24 hour care. So here we are paying rent and a mortgage at the same time and trying to sell the house to break even. My dad did a lot of concrete work and put in a ramp, 8 foot tall fence, and a big iron gate. The house is not getting any offers and I can't pay another payment. Since I will never be well enough to work and can care less about credit I want to just abandon it and let the mortgage co. deal with it. They won't get a cent from me and they can't touch my SSI. If I could find someone to buy it quick I would let it go for the balance and be willing to lose the equity and down payment. I would appreciate some advice. I only have 20 days left until the next payment due date. Thanks a lot.

      I am sorry to hear about your situation.I live in Northern IL and deal with properties in Kenosha and Racine. I may be interested in purchasing the home. Please contact me so I can obtain more information. Closings can be done in less than 5 days. You may contact me at: 847-571-0765. Thanks : (0)


    • Posted by njdave on July 21, 2002 at 12:17:32:

      In Reply to: Don't want to pay mortgage and house not sold yet after 3 months posted by Tom on July 19, 2002 at 20:41:30:

      Though you might not think so now...your future creditworthiness is something to protect. With what is being proposed for our social security system, who knows how things will be in a few years... you might not be able to qualify for social security benefits due to a bad credit history.... better to be safe tha sorry.

      You don't mention the present day value of the home. I would suggest that you notify your mortgagee that you have experienced an irreversible financial hardship and will be selling your home.

      Place the property for sale with a licensed real estate broker at it's as-is, fair market value. Don't fool around with a broker who says, "list it high so we have room to negotiate..." That's BS.If you need help, or want a referral for a local broker to help sell the house quickly and efficiently.... email me. Or, check out the link below.

    • specialized realty services nationwide
    : (0)

  • Posted by Valerie on July 20, 2002 at 12:08:59:

    In Reply to: Don't want to pay mortgage and house not sold yet after 3 months posted by Tom on July 19, 2002 at 20:41:30:

    : Hello,

    If you haven't found a buyer yet please contact me @ vlconsulting@jps.net. I may be able to help.

    Valerie : (0)


  • Posted by New Vision Properties on July 20, 2002 at 08:36:41:

    In Reply to: Don't want to pay mortgage and house not sold yet after 3 months posted by Tom on July 19, 2002 at 20:41:30:

    : Hello. I am having some serious problems. Three years: ago my parents and I put a $10,000 downpayment on: a $87,000 3 bedroom house in Racine, Wisconsin. The balance now is $69,000. The loan is in my name and nobody else signed but me. Now here is the sticky situation. Eight months ago I almost died of CO2 poisoning and ended up on a ventilator which I still need. I am also in a wheelchair. My parents lost their jobs becaused they were in the hospital with me for 3 months helping me get through the shock of my condition. Anyway, We moved to La Crosse, Wisconsin 3 months ago for specialized healthcare for me. We are renting a place here. Now my dad is also disabled and can't work and my mother can't work since I need 24 hour care. So here we are paying rent and a mortgage at the same time and trying to sell the house to break even. My dad did a lot of concrete work and put in a ramp, 8 foot tall fence, and a big iron gate. The house is not getting any offers and I can't pay another payment. Since I will never be well enough to work and can care less about credit I want to just abandon it and let the mortgage co. deal with it. They won't get a cent from me and they can't touch my SSI. If I could find someone to buy it quick I would let it go for the balance and be willing to lose the equity and down payment. I would appreciate some advice. I only have 20 days left until the next payment due date. Thanks a lot.We May be interested in buying your house, Please contact us at E- mail webynsell@aol.com or call (817) 444 -0123. Thanks : (0)


  • Posted by Derrick on July 19, 2002 at 23:15:32:

    In Reply to: Don't want to pay mortgage and house not sold yet after 3 months posted by Tom on July 19, 2002 at 20:41:30:

    Good Day, Tom.

    I may be able to help you. I am a real estate consultant and nationwide investor.

    Please contact me directly at HowtoStopForeclosure@juno.com with your full email adress and contact information.

    I look forward to hearing from you.

    DerrickD & D Investments



    : (1)


    • Posted by Tinaj on July 22, 2002 at 20:45:06:

      In Reply to: We may be able to help you. posted by Derrick on July 19, 2002 at 23:15:32:

      Just curious becuase I've never heard of your firm before. I'd sure hate to see someone in a desperate situation come to this forum looking for help and wind up getting scammed. At least that's what I call it.

      My apologies if I'm wrong. : (0)


  • Posted by cama collier on July 19, 2002 at 20:38:47:

    My name is Cama Collier I am interested in agrant that will cover my house bills and to pay off Wells Fargo. What Ihave left to pay on the house is fiftythree thousand.Also another fortyfive thousand to pay off hospital bills.Also charge cards so I can never use them again also to buy coats and school cloths for my kids. Also to pay school bills of the past. Our house needs outside remodeling and inside to. No One wants to help me and my husband because we are new buyers were just begining. please help me Cama collier email address ROBEC5@OL.COM T o the office of grants management : (3)


    • Posted by Valerie (CA) on July 20, 2002 at 12:12:08:

      In Reply to: personal grant need and also for house improvement posted by cama collier on July 19, 2002 at 20:38:47:

      Hello Ms. Cama,

      Please contact me, I may be able to help you. vlconsulting@jps.net

      Valerie

      : (0)


    • Posted by Cama and Robert Collier on July 19, 2002 at 20:41:41:

      In Reply to: personal grant need and also for house improvement posted by cama collier on July 19, 2002 at 20:38:47:

      : My name is Cama Collier I am interested in agrant that will cover my house bills and to pay off Wells Fargo. What Ihave left to pay on the house is fiftythree thousand.Also another fortyfive thousand to pay off hospital bills.Also charge cards so I can never use them again also to buy coats and school cloths for my kids. Also to pay school bills of the past. Our house needs outside remodeling and inside to. No One wants to help me and my husband because we are new buyers were just begining. please help me Cama collier email address ROBEC5@OL.COM: T o the office of grants management

      : (1)


      • Posted by curious on July 19, 2002 at 23:17:22:

        In Reply to: Re: personal grant need and also for house improvement posted by Cama and Robert Collier on July 19, 2002 at 20:41:41:

        : : My name is Cama Collier I am interested in agrant that will cover my house bills and to pay off Wells Fargo. What Ihave left to pay on the house is fiftythree thousand.Also another fortyfive thousand to pay off hospital bills.Also charge cards so I can never use them again also to buy coats and school cloths for my kids. Also to pay school bills of the past. Our house needs outside remodeling and inside to. No One wants to help me and my husband because we are new buyers were just begining. please help me Cama collier email address ROBEC5@OL.COM: : T o the office of grants management

        : (0)


  • Posted by Nic on July 18, 2002 at 23:09:29:

    I have a home for sale. 3BR, 2B, detached garage,hardwood floors, full finished basement which can be used as apartment (no seperate entry),smallish backyard, large frontyard, large driveway. Needsminor cosmetic work, (carpet, paint.) Appraised at $75,000, will sell for $65,000. Getting behind in payments and want out.Prefer not to use a realtor, let me know if interested.House is located in Pocatello, Idaho. : (1)


    • Posted by Trinity Consulting on July 28, 2002 at 23:23:22:

      In Reply to: home for sale posted by Nic on July 18, 2002 at 23:09:29:

      : I have a home for sale. 3BR, 2B, detached garage,hardwood floors, full finished basement which can be used as apartment (no seperate entry),smallish backyard, large frontyard, large driveway. Needsminor cosmetic work, (carpet, paint.) Appraised at $75,000, will sell for $65,000. Getting behind in payments and want out.Prefer not to use a realtor, let me know if interested.House is located in Pocatello, Idaho.

      I may be interesting in buying your home.Please call me at 847-571-0765. Thanks : (0)


  • Posted by Nancy on July 18, 2002 at 21:09:18:

    Could you tell me what is the first few steps to take.My neighbors house was posted today that 1900.00 was due for back taxes. (no one has lived in the house for 2 years). What do I do first to see if I can buy this house?

    Thanks : (3)


    • Posted by Larry on July 22, 2002 at 01:29:39:

      In Reply to: House posted for Sherrif Sale posted by Nancy on July 18, 2002 at 21:09:18:

      : Could you tell me what is the first few steps to take.: My neighbors house was posted today that 1900.00 was due for back taxes. (no one has lived in the house for 2 years). What do I do first to see if I can buy this house?

      : Thanks

      First, contact the County Sheriff's Office, they should be able to advise you of the procedure for your state. Purchasing Tax deliquent properties vary from state to state. In Louisiana, the tax buyer purchases in holds a lien aganist the property for the amount of taxes owed. After three years and the property is not redeemed the tax buyer may petition the Court to Quite Title. : (0)


    • Posted by Valerie on July 20, 2002 at 12:16:58:

      In Reply to: House posted for Sherrif Sale posted by Nancy on July 18, 2002 at 21:09:18:

      : Hello Nancy,

      Are the owners still there? Do you know them? Maybe, you can find out their motivation. Are they willing to sell? BTW, what state are you in?

      Val : (1)


      • Posted by Larry on July 22, 2002 at 01:35:32:

        In Reply to: Re: House posted for Sherrif Sale posted by Valerie on July 20, 2002 at 12:16:58:

        Hi Nancy, If you will e-mail me with all the facts I can help.

        Larry : (0)


  • Posted by TK on July 18, 2002 at 17:28:07:

    I want to let my timeshare go, but they want to foreclose rather than just take the deed back. We are financially unable at this time to make any kind of payment to them. Can they put a lien against my car or bank accounts, or place a judgement against me?My credit is bad now because of the slow pays and the high credit card debt and our house is being financed by the owner, so do not need to use my credit any time soon. Is my credit the only thing affected?Thank you : (2)


    • Posted by Reinstatement Services, Inc. on July 19, 2002 at 12:59:08:

      In Reply to: I want to let my timeshare foreclose-remifications to me? posted by TK on July 18, 2002 at 17:28:07:

      Depending upon the laws of your state, if the property doesn't produce enough to clear the debt at auction then a deficiency judgment might be obtained by your lender.

      Once obtained, some states allow lenders to pursue collection utilizing traditions collection tools such as wage garnishment, attatching other property, and the like.

    • Default and Foreclosure Mediation
    : (0)

  • Posted by Team One Investors on July 18, 2002 at 19:49:11:

    In Reply to: I want to let my timeshare foreclose-remifications to me? posted by TK on July 18, 2002 at 17:28:07:

    : I want to let my timeshare go, but they want to foreclose rather than just take the deed back. We are financially unable at this time to make any kind of payment to them. Can they put a lien against my car or bank accounts, or place a judgement against me?: My credit is bad now because of the slow pays and the high credit card debt and our house is being financed by the owner, so do not need to use my credit any time soon. Is my credit the only thing affected?: Thank you

    They can only foreclose on the time share. They cannot put a lein on your car or other home. They could only try to collect on a balance if they do not get all funds to pay off loan. Not to worry, you can do credit repair to delete all bad accounts that are on your credit reports legally. if interested let me email me.

    : (0)


  • Posted by Anthony on July 18, 2002 at 14:26:25:

    Has anyone heard of any financial institutions that will purchase properties (in selling condition) at a discounted price say 10-15%. In order to resell and obtain the mortgage on the resell. : (1)


    • Posted by Trinity on July 28, 2002 at 23:25:24:

      In Reply to: Mortgage Companies Buying Properties posted by Anthony on July 18, 2002 at 14:26:25:

      : Has anyone heard of any financial institutions that will purchase properties (in selling condition) at a discounted price say 10-15%. In order to resell and obtain the mortgage on the resell.

      yes, there's a firm in Chicago that's doing just that. : (0)


  • Posted by M CLARK on July 18, 2002 at 13:57:02:

    HOW DO I GET MY FORCLOSURE PROPERTY BACK ONCE EVERYTHING IS OUT OF MY HANDS. HOW DO I GET REINSTATED?

    HELP : (1)


    • Posted by Trinity on July 28, 2002 at 23:53:30:

      In Reply to: REINSTATE FORCLOSURED PROPERTY posted by M CLARK on July 18, 2002 at 13:57:02:

      : HOW DO I GET MY FORCLOSURE PROPERTY BACK : ONCE EVERYTHING IS OUT OF MY HANDS. HOW DO I GET REINSTATED?

      : HELP

      Need more information.There is a way to re-instate you, if the proceedings have not gone to far. Joe jd53@attbi.com : (0)


  • Posted by Dionne Nelson on July 18, 2002 at 12:00:27:

    My now ex-husband and I purchased a timeshare in VA back in 1999. We were divorced in 2000, my divorce decree stated that he was solely responsible for the property. I copy of my divorce papers were sent to Timeshare Owners and they have a copy it. I just found out that it was forclosed and a judgement is against me. I NEVER received any information regarding either one. I just called and they had an incorrect address. Is there anything I can do since I never received the warnings/documents. : (1)


  • Posted by steve on July 18, 2002 at 01:47:41:

    in california -

    if the trustor decides at the last minute to do a "deal" with us - what are some of the better ways to get the beneficiary to postpone the sale or to force a postponement in order to give us time to make the deal??

    thank you

    : (0)


  • Posted by Sheila T on July 17, 2002 at 18:57:35:

    I have had a pain in the rear since HomeComings purchased my mortgage, They haven't got a clue as to what the hell the left hand is doing from the right, I get calls at least three times a week from what sounds like a cheap Telemarketing firm...I want out so bad I can taste it and they continue to report me 30 days no matter what, I had them hold a payment because it was 32 cents short THEY DON"T ACCEPT PARCIALS !!! so they drafted my bank for the 32 cents plus 1.16 to process. Are there no laws for stupid people ??? : (1)


  • Posted by kamo on July 17, 2002 at 16:49:23:

    im 90 days behind on my mortgage payments,and the bank still did not serve me with the foreclosure papers, im planing to pay full amount owed at end of this month is it ok to do so without calling the bank? and can the bank refuse my payments?.... : (2)


    • Posted by Reinstatement Services, Inc. on July 19, 2002 at 12:42:36:

      In Reply to: i need advice posted by kamo on July 17, 2002 at 16:49:23:

      If you are planning to fully reinstate the loan prior to the foreclosure action then you do not have to phone the lender to obtain permission to do so. You simply pay the money required.

      However, if the foreclosure process has already been initiated then there are bound to be additional fees that will have to be settled. You will want to phone the trustee hired to process the foreclosure action to obtain an accurate accounting of what is owing prior to submitting funds to avoid a delay in the funds being applied and/or to avoid them being rejected.

      Finally, a quick call to your lender letting them know of your intentions might save you a few thousand dollars in the long run. Have the customer service representative document your call and its purpose.

    • Default and Foreclosure Mediation
    : (0)

  • Posted by Joe Daujotas on July 18, 2002 at 01:25:24:

    In Reply to: i need advice posted by kamo on July 17, 2002 at 16:49:23:

    : im 90 days behind on my mortgage payments,and the bank still did not serve me with the foreclosure papers, im planing to pay full amount owed at end of this month is it ok to do so without calling the bank? and can the bank refuse my payments?....

    Reply:Let me introduce myself. I am Joe Daujotas President of Trinity Consulting. I my work deals with pre-foreclosure conditions.

    im 90 days behind on my mortgage payments,and the bank still did not serve me with the foreclosure papers,Response: It is only a matter of time before your bank serves you pre-foreclosure papers.However, since you say you have the funds, there is a way to salvage the situation.

    im planing to pay full amount owed at end of this month is it ok to do so without calling the bank? and can the bank refuse my payments?....Response:Without sending the bank a written notification that your intent to pay the amount owned, the bank can refuse your payment.

    The bank does not know if this is a temporary set back that has been corrected or that it can re-occur. My advice is as follows:You may call the bank and find out who is the loan officer incharge of defaults. Next you need to explain that it is your intent to repay the balance of the note that is in the rears. You will state that the reason for the delay in payments was due to, illness, loss of job, etc.Next you need to prepare a written statement stating the reason of the default payments.You need to provide a re-payment schedule.The fees for the delequent payments will be more than the mortgage payments themselves. They will include attorney fees, late payment fee, interest amoung other bank fees. You should as the bank representative for the exact amount owned.Based upon this figure, you can prepare a repayment schedule that is suitable to you and the bank.This must be agreed upon in writing with the bank and you. Once the repayment schedule is agreed upon, it is then signed by the bank and yourself. a note is generally added to the rear of your original mortgage. It will remain until all back payments and interest is completed.If you need assistance with dealing with your bank, please contact me and I will be glad to assist you with re-instating your mortgage.I have over a 90% success rate. The reason I started this business was to serve the Lord by serving others.I trust you will pray to our Lord for guideance through your difficulties.May God bless you and your family.Again please feel free to contact me at:trinityconsulting@ureach.com. Please leave a phone # and best time to call.Joe Daujotas : (0)


  • Posted by KP on July 17, 2002 at 12:59:51:

    Have any of you had problems renting an apartment after a foreclosure? We have 4 children, and may lose our house due to a series of problems we have had this year. Any suggestions about renting? : (2)


    • Posted by Angie on July 17, 2002 at 16:10:30:

      In Reply to: renting posted by KP on July 17, 2002 at 12:59:51:

      : Have any of you had problems renting an apartment after a foreclosure? We have 4 children, and may lose our house due to a series of problems we have had this year. Any suggestions about renting?

      I am an apartment manager. When we see a foreclosure on a credit report it raises red flags. If we cannot verify good rental or payment history, we deny the application. That is only my experience. My advice would be to rent from an individual who will not run a credit report. Then, after good rental history and credit history you can try to rent or buy again. : (0)


  • Posted by Sharon on July 17, 2002 at 12:34:25:

    We have a house that is being foreclosed that is a rental property. We don't think we want to save it, but are curious if anyone knows which will be worse on our credit history - foreclosure or filing bankruptcy?

    Thanks. : (4)


    • Posted by Joe Daujotas on July 18, 2002 at 01:32:25:

      In Reply to: What's worse for credit history - foreclosure or bankruptcy? posted by Sharon on July 17, 2002 at 12:34:25:

      : We have a house that is being foreclosed that is a rental property. We don't think we want to save it, but are curious if anyone knows which will be worse on our credit history - foreclosure or filing bankruptcy?

      : Thanks.

      Greetings:My name is Joe Daujotas.I am the owner of Trinity Consulting. We specialize in pre-foreclosures. The worst thing for your credit is bankruptcy? Bankruptcy will be with you for 10 years. It will also freeze your other creditors, credit cards, car payments, etc. Your monthly expenses will increase not decrease.There are other ways to resolve your problem. Please for your own good, talk with me or get other legal advice. If I can not assist you with re-instating your mortgage with the bank. I also have resources to purchase properties.Please contact me attrinityconsulting@ureach.comMay God direct your path to best resolve your situation.Joe Daujotas : (2)


      • Posted by tinaj on July 19, 2002 at 23:19:57:

        In Reply to: Re: What's worse for credit history - foreclosure or bankruptcy? posted by Joe Daujotas on July 18, 2002 at 01:32:25:

        It never ceases to amaze me that people use religious references to try to shake up some business. : (0)


      • Posted by Jim V on July 18, 2002 at 18:01:50:

        In Reply to: Re: What's worse for credit history - foreclosure or bankruptcy? posted by Joe Daujotas on July 18, 2002 at 01:32:25:

        Joe,

        IMHO, foreclosure has a greater impact on credit than a bankruptcy does. Unfortunately, both will sometimes occur at the same time and sometimes a BK is necessary to prevent a deficiency judgement.

        From a lending perspective, 2 years of re-established credit is sufficient to minimize the credit impact of the bankruptcy, while 3 years of re-established credit is necessary to minimize the impact of the foreclosure. Granted, a foreclosure will normally only be reported for 7 years while the BK will stay on for 10 years. Lending guidelines vary, but I think that's pretty accurate.

        Depending on what Chapter the bankruptcy filing is, monthly cash outflow could either increase, as you stated, or decrease. That statement is kind of mis-leading.

        I'm not an advocate for bankruptcy, but it certainly does have a place when someone is in financial difficulty. That is why the laws exist.

        Just as a final note, God does not direct or solve people's financial distress, they have to solve it themselves. : (0)


  • Posted by Arthur on July 16, 2002 at 22:05:16:

    A lady purchased a motor-home from me paid the down payment and moved in in a trailer park.I signed the title naming myself as the lien holder.We had a hand written agreement that she would pay me $250 a month $50 of which I would apply towards insurance. Later she asks if I would allow her to insure with her own company and transfer the title and registration to her name and only pay me $200 dollars a month.This was 2 months ago she has not obtained insurance and she has not transfered the title.Can I foreclose Nullify the agreement Evict her or what do I do? the written agreement has been lost however there were witnesses to the transaction she has paid $200 per month however although I feel since she had no insurance she still owes me the additional $50. please help us as resourses on theis subject are very limited in California. thank you : (0)


  • Posted by Daughter-in-law - Jim V on July 16, 2002 at 15:32:31:

    Help please from anyone - Today is my first day at this website . . . Jim V: maybe you could provide some guidance/opinion (based on reading many of your intelligent, factual responses to others)

    My mother-in-law lives in Delaware, elderly but incredibly healthy and active. After years of extravagant spending and believing she 'must have everything' she is now having difficulty paying mortagage and utility bills to say nothing of car repairs, etc. Add gambling to the picture, her anger of now having to work and her advancement in years (80) makes for a bleak future. During the last few years we (me, her son and her daughter) have chipped in to pay her mortgage, electric, etc bills (this month it's a $750. electric bill). Her mortgage payment is $600. a month, the same as her Social Security ck. Her major credit cards are probably around $25-40k . . . If she has any equity in her condo ($30k if lucky) she owes the IRS and DE state that amount in taxes (I do not know if there is a lien on her property). She will not discuss finances with us ('she can take care of things herself') so I am unsure of what her debts are. Last year she had $30k left in investments but that's gone too (she started w/a divorce settlement of $400k in 1978 plus $2k a month in alimony for the 1st 10 yrs - plenty to live on in my opinion). Things are going from bad to worse - we are helping her financially more often. This is causing more arguments between my husband and me - he sometimes takes a hardline - then ends up paying her bills. We're trying to move her to a smaller place instead of her 3 bedroom condo - but she won't budge. He says it will take a crisis before she will do anything.

    I say - let the crisis happen - don't pay the mortgage - let the bank foreclose - let her declare bankruptcy - let her go on public assistance because I certainly can not afford to pay all her bills for the rest of her life (and honestly I don't want to . . )

    Should we encourage her to file for bankruptcy before the inevitable bank forclosure? Is there a 'preferred way' that is the lesser of two evils? Are we responsible for all her bills later if we pay for some of them now? : (10)


    • Posted by Jim V on July 18, 2002 at 17:36:05:

      In Reply to: Mother-in-Law posted by Daughter-in-law - Jim V on July 16, 2002 at 15:32:31:

      I honestly really think Tinaj hit the target in stating this is more of an "Ann Landers" issue than it is a foreclosure issue.

      1. Your mother in law will most likely continue to spend until there is absolutely no money or credit left to be able to spend any more.2. She will have to live somewhere, and unless a family member is willing to take her in, a $600/month condo payment isn't excessive.3. Most adult children wouldn't allow a parent to live "on the street" or in less desirable circumstances.

      If I was looking at such a scenario, I'd probably wait until she had no assets left, attempt to have the social security direct deposited into an account which would automatically pay the mortgage, have her apply for assistance from the utility companies for reduced rates and let her work for any money necessary for automobile or outside expenses. I'd be willing to pay for food, if necessary. If, and when, creditors started getting very demanding, a Ch. 7 bankruptcy could be appropriate.

      What you would have is a mother in law with shelter, utilities and food hopefully at a moderate cost to the rest of the family.

      Whether all family members can agree on such a course of action is a big unknown. Hope that helps, cause I know I'm not Ann Landers. :)

      : (5)


      • Posted by Daughter-in-Law on July 19, 2002 at 13:56:13:

        In Reply to: Re: Tough Choices posted by Jim V on July 18, 2002 at 17:36:05:

        : Thanks. I appreciated reading your opinion. That's a good idea about direct deposit of Social Security money for mortgage payment - at least we can stall a foreclosure - you're right - $600. a month isn't all that bad. I guess we'll try to delay a Chap 7 bankrupcy as long as possible. Thanks again.

        : (4)


        • Posted by TinaJ on July 19, 2002 at 23:21:53:

          In Reply to: Re: Tough Choices posted by Daughter-in-Law on July 19, 2002 at 13:56:13:

          for the mortgage payment without having her power of attorney? Or is she willing to do something like this?

          I think JimV is right (as he normally is) - she's going to continue to spend and spend as long as someone bails her out. She may have to hit bottom eventually, but still you can't turn her out onto the streets. : (3)


          • Posted by Tinaj on July 22, 2002 at 20:52:58:

            In Reply to: Can you have the SS check direct-deposited - sm posted by TinaJ on July 19, 2002 at 23:21:53:

            Because around here many older ladies work as home companions - not home health care aides who do a lot of lifting, bathing, that sort of thing - but just someone to be in the house with somebody. It pays good money. One of my mother's friends just had a minor stroke, not incapacitated but still needs somebody, and it was an act of God to find people for 24-hour coverage. The lady at night really doesn't do anything but sleep there and watch tv before bed. : (0)


          • Posted by Daughter-in-Law on July 22, 2002 at 10:52:37:

            In Reply to: Can you have the SS check direct-deposited - sm posted by TinaJ on July 19, 2002 at 23:21:53:

            Well - the idea about the SS ck direct deposit to mortgage was good - but not w/ her. She refused.We suspect because she uses it for gambling (which she still denys !). My husband has offered through the years to manage her finances and she always refuses. Power of attorney idea was also squashed a long time ago. We looked into 'conservatorship' but you need a DR's statement that basically she's crazy/incapable of making decisions and actually she's not crazy so it would not hold up in court.

            Her daughter's name is down as the contact for utilities & she does get a 'reduced rate' due to her age.

            I suppose we can go on like this for a while but I think it is inevitable that some illness/injury/accident will force things. I just found out she has Medicare Part A only (hosp) and no Part B (doctors/labs). oh well . . .

            Any other ideas? : (1)


            • Posted by Tinaj on July 22, 2002 at 20:41:42:

              In Reply to: Re: Can you have the SS check direct-deposited posted by Daughter-in-Law on July 22, 2002 at 10:52:37:

              unless you and your siblings/inlaws are independently wealthy, it will take ONE ILLNESS for her medical bills to get into the gazillions.

              Medicare Part B isn't that expensive. Doesn't she go to the doctor? She must be remarkably healthy. This is sure asking for trouble, though.

              Seems to me (Ann Landers is dead, and nobody asked me to take over ...) Momma has you all right where she wants you. And you are probably the least likely person to get her to change since you're the daughter-in-law. I'm not sure, but I know in the past you could have Medicare part B premiums withheld from your social security check. I'm sure THAT would make her happy!

              You're right about the conservatorship thing. She'd have to be mentally incompetent, which she obviously isn't. I'm sorry but I have no other ideas. I think she has all her marbles and she's playing you all very well, but I'm sure you dont need me to tell you that.

              I feel for you but there's not much else I could do. I'd be careful about trying to make her move out of her condo - she might move in with you! : (0)


    • Posted by Tinaj on July 16, 2002 at 21:05:36:

      In Reply to: Mother-in-Law posted by Daughter-in-law - Jim V on July 16, 2002 at 15:32:31:

      What a shame, that is just a bad situation no matter what you do. I think Ann Landers (may she rest in peace) would probably suggest that you and your siblings and their spouses, if any, get together and have a family meeting to decide how long and to what degree you're going to subsidize your mom. No matter what you do, it's bound to be a hard decision.

      Isn't she getting calls from the bank or the mortgage company? Surely she knows it would be better to sell the condo than to have it foreclosed. Or is she just counting on you to bail her out?

      I am no expert whatsoever, but I don't think paying her bills now makes you liable later. You aren't signing any papers. And the validity of the debts isn't in question. Bless your heart, i wish I could help you but this one probably needs professional help. Is your mom still actively gambling? If your siblings agree, you could tell her you can't and won't help her financially any more until she quits. : (3)


      • Posted by tinaj on July 16, 2002 at 21:08:14:

        In Reply to: I'm not Jim V or any sort of expert.... posted by Tinaj on July 16, 2002 at 21:05:36:

        When's the last time your mother had a checkup? Does she have a family doctor that you could talk to about her gambling and make some nonspecific references to her financial problems? It's possible that she's taking some kind of medicine that clouds her judgement in a big way. Often people don't realize that the same meds they took when they were 20 years younger have different effects now. That's really common with elderly patients - oversedation, etc. It's worth a try. : (2)


        • Posted by Daughter-In Law on July 18, 2002 at 11:17:49:

          In Reply to: One more thing -- posted by tinaj on July 16, 2002 at 21:08:14:

          Thanks TinaJ-Unfortuately none of this is due to medications. She's been like this always - self-centered and not responsible - that's why we get phone calls only when she needs $.

          Yes-we've gotten together as a family many times over the years to discuss how to handle this - to pay or not to pay. There are different opinions and we can't agree on a strategy (although daughter and I are in agreement of not paying anything) - my husband says he won't let her 'be thrown into the street' - thus he makes payments even though he's told her before he won't due to her gambling and her unwillingless to change her lifestyle.

          Yes - she gets calls from creditors but not from the bank because we have kept her current. However - if we stop that, then definitely I think foreclosure is in her future but that's why I think she needs to file for bankruptcy 1st because that holds off foreclosure right? But if she files for bankruptcy then how is she going to be able to rent a place else? won't her credit be in the toilet?

          I really do not know what to do - it's inevitable that this will fall apart soon if we stop paying.Any suggestions?: - go bankruptcy route? - allow foreclosure? - or get her into another place 1st then foreclose? : (0)


        • Posted by Daughter-In Law on July 18, 2002 at 11:16:51:

          In Reply to: One more thing -- posted by tinaj on July 16, 2002 at 21:08:14:

          Thanks TinaJ-Unfortuately none of this is due to medications. She's been like this always - self-centered and not responsible - that's why we get phone calls only when she needs $.

          Yes-we've gotten together as a family many times over the years to discuss how to handle this - to pay or not to pay. There are different opinions and we can't agree on a strategy (although daughter and I are in agreement of not paying anything) - my husband says he won't let her 'be thrown into the street' - thus he makes payments even though he's told her before he won't due to her gambling and her unwillingless to change her lifestyle.

          Yes - she gets calls from creditors but not from the bank because we have kept her current. However - if we stop that, then definitely I think foreclosure is in her future but that's why I think she needs to file for bankruptcy 1st because that holds off foreclosure right? But if she files for bankruptcy then how is she going to be able to rent a place else? won't her credit be in the toilet?

          I really do not know what to do - it's inevitable that this will fall apart soon if we stop paying.Any suggestions?: - go bankruptcy route? - allow foreclosure? - or get her into another place 1st then foreclose? : (0)


  • Posted by RT on July 16, 2002 at 15:32:01:

    My husband and I are purchasing a Indiana home through a Land Contract with the owner. We received a letter approximately 2 months ago stating that they have filed for Bankruptcy. How long will the process take for the bank to foreclose on the house and we have to move out? Does the bank have to also foreclose on us since we have a signed contract with the owner? Any assistance that you can give to me will be greatly appreciated. : (0)


  • Posted by Gary Wayerski on July 16, 2002 at 09:37:45:

    I own a dairyfarm in Wisconsin. Our bank had us sell heifers 2 years ago/ they said they will give us replacements. Now they say sell some land(we have it listed) in order to buy cows. We are not cash flowing and the bank payment is $19,700/ month. The board said they do not want our farm/ yet they will not give us help to get cattle here now so we cash flow. All we need is more cows/ nothing else/ have room/feed/ and willingness. We have been going in the red about $15,000-$20,000 a month in back bills. Can I stop the bank payment and use that money to survive, till I sell the land and use that money(have a offer to purchase subject to a settlement) for $240,000.00), to buy cows so I cash flow. Bank says sell the land and buy cows-but I need to make it now and they don't care : (0)


  • Posted by Jen on July 15, 2002 at 20:34:30:

    We were recently served papers by the sheriff for foreclosure we've taken bankruptcy this year it's been discharged. We have 4 children and don't want to leave our home but have no choice, we've been here 16 years so this is very painful especially for me this was my Grandmother's home.Jen : (1)


    • Posted by Reinstatement Services, Inc. on July 15, 2002 at 21:30:01:

      In Reply to: Foreclosure in Iowa posted by Jen on July 15, 2002 at 20:34:30:

      Have you petitioned your lender for workout assistance?

    • Default and Foreclosure Mediation
    : (0)

  • Posted by Jen on July 15, 2002 at 20:33:44:

    We were recently served papers by the sheriff for foreclosure we've taken bankruptcy this year it's been discharged. We have 4 children and don't want to leave our home but have no choice, we've been here 16 years so this is very painful especially for me this was my Grandmother's home.Jen : (0)


  • Posted by connie on July 15, 2002 at 12:43:04:

    we are 3 months behind in our payments and going into foreclosure. what can we do to keep our home? we can make a payment now, but if we are going to loose our home we don't want to give them a payment.

    please help! : (2)


    • Posted by Mary Hart on July 17, 2002 at 09:38:33:

      In Reply to: how do we keep our home? posted by connie on July 15, 2002 at 12:43:04:

      First you have to know what type of mortgage you have whether its FHA or conventional. If you have conventional you should have rec'd an Act 91 notice, if you have FHA you can call and make arrangements to pay. e-mail me if need be. I am a housing counselor. You should have housing counselors in your area. : (0)


    • Posted by Cynthia Jones on July 16, 2002 at 12:42:00:

      In Reply to: how do we keep our home? posted by connie on July 15, 2002 at 12:43:04:

      : we are 3 months behind in our payments and going into foreclosure. what can we do to keep our home? we can make a payment now, but if we are going to loose our home we don't want to give them a payment.

      : please help!

      I can help. Call me at 469-441-6575.Cynthia Jones : (0)


  • Posted by Carrie on July 15, 2002 at 11:23:22:

    My spouse has filed chapter 7 and we have decided to give up our property. We were served the foreclosure papers from the sheriff about 2 weeks ago. I am wonder how long the process takes-when should we expect to have to be out of the house? We live in PA. Thanks in advance for any help with this timeline:) : (2)


    • Posted by Mary Hart on July 17, 2002 at 14:11:44:

      In Reply to: How long until we need to be out of our home? posted by Carrie on July 15, 2002 at 11:23:22:

      :What part of Pa do you live in? Go to your nearest non profit housing agency for advice. : (0)


    • Posted by Ward-CA- on July 15, 2002 at 18:04:30:

      In Reply to: How long until we need to be out of our home? posted by Carrie on July 15, 2002 at 11:23:22:

      : My spouse has filed chapter 7 and we have decided to give up our property. We were served the foreclosure papers from the sheriff about 2 weeks ago. I am wonder how long the process takes-when should we expect to have to be out of the house? We live in PA. Thanks in advance for any help with this timeline:)

      : My spouse has filed chapter 7 and we have decided to give up our property. We were served the foreclosure papers from the sheriff about 2 weeks ago. I am wonder how long the process takes-when should we expect to have to be out of the house? We live in PA. Thanks in advance for any help with this timeline:)

      =•=•=•=•=•=•=•=•=•=•=

      Carrie,

      The foreclosure process in PA is about 3 months long. So you should use that 90th day as your day to be out, even though you might be entitled to an additional 5 to 10 days after the sale has taken place. That’s because you don’t want to risk being served with an eviction complaint. A complaint in eviction will screw up your credit with potential landlords for several years—an aggravation you don’t need on top of what the foreclosure itself will cause.

      Good luck. : (0)


  • Posted by April Cummins on July 15, 2002 at 09:29:19:

    I am 4 months behind and going into the fifth month as of August 1st.I have enough to pay two or three payments this month, but is it going to stop the foreclosure procedures. I don't know if I should use the money I have to find somewhere else to live or pay them. They are requiring4 payments and I can't get them but three. Can they still foreclose after I pay three payments? : (1)


    • Posted by Reinstatement Services, Inc. on July 15, 2002 at 11:49:25:

      In Reply to: Foreclosure Advise posted by April Cummins on July 15, 2002 at 09:29:19:

      The foreclosure process will continue until an agreement under forbearance is in place with your lender.

    • Default and Foreclosure Mediation
    : (0)

  • Posted by Chub'zy on July 15, 2002 at 08:45:43:

    Me & My Wife Are In Between Jobs and the morgage is or was behind one(1) month now two(2) and at the end of this month. At the the end of next month August(the 3rd payment comes up) what do we do at this point (2 months now)

    How can save our home right now! there's not enough money coming in right now. : (1)


    • Posted by Reinstatement Services, Inc. on July 15, 2002 at 11:55:56:

      In Reply to: So far Behind on two Morgage payments (the 3rd is near) posted by Chub'zy on July 15, 2002 at 08:45:43:

      Depending upon the type of loan you have, one type of workout program that might assist you for a short period of time is called a deferment.

      You will need to secure lender approval for this type of workout to afford you the protections you seek.

    • Default and Foreclosure Mediation
    : (0)

  • Posted by staci clere on July 15, 2002 at 01:14:18:

    I have leased my house with option to buy to some people who have wasted the 6 months to get the loan in order and just now "4" business days before the lease expires they have went to the title company and signed escrow papers from three weeks ago that they had formerly refused to sign. Three weeks ago i suggested we open escrow because they were running out of time in terms of the lease expiring. They would not agree to the terms and i have not collected any option money from them. My question is: can they win a law suit in Ca. because i wont enter into escrow 4 business days before the lease expires? The lease we have is a 4 page all inclusive detailed contract that requires the buyers to give me a written 60 day intent to buy letter.Have I opened myself up for a law suit by not entering to escrow even if they could possibly close escrow by the last day of the contract? I love this website!!!!!!! thanks for your help!!! : (0)


  • Posted by Jim on July 13, 2002 at 16:34:31:

    Hold 2nd TD on San Diego County property. NOD filed 10/15/01. Trustor filed Ch. 13 BK on 10/19/01. $4,000. in legal fees later (no Relief granted) Trustor's BK dismissed on 6/18/02 (no payments, no plan). Trustee sale set on 6/24/02. Trustor filed another Ch. 13 BK on 7/10/02, with new attorney.How can I stop this? Will the BK Court allow this kind of abuse of the system? Would another run at Relief (there still is a little equity in the property) have a better chance this time? If yes, any references for a competent, reasonable creditors attorney would be greatly appreciated. Thanks for sharing your knowledge and experience! Jim : (0)


  • Posted by jim on July 13, 2002 at 14:36:15:

    I have read previous postings and there is good knowledge here. my question is: i have a 2nd and 3rd mortgage. there is enough equity in the house to pay off the house and the 2nd mortgage only. if my house is foreclosed, what will happen to the 3rd mortgage?thank you. : (2)


    • Posted by Trinity Consulting on July 18, 2002 at 01:47:40:

      In Reply to: do i just walk away from it all? posted by jim on July 13, 2002 at 14:36:15:

      : I have read previous postings and there is good knowledge here. my question is: i have a 2nd and 3rd mortgage. there is enough equity in the house to pay off the house and the 2nd mortgage only. if my house is foreclosed, what will happen to the 3rd mortgage?: thank you.Without making arrangements to re-pay the 3rd Mortgage, you will loose the home. YOU DO NOT WANT TO FILE BANKRUPTCY!SEND ME YOUR PHONE # AND BEST TIME TO CALL.I CAN ASSIST YOU.JOE DAUJOTASTRINITY CONSULTINGFORECLOSURE SPEACILISTS847-571-0765

      : (1)


      • Posted by TinaJ on July 22, 2002 at 20:57:55:

        In Reply to: Re: do i just walk away from it all? posted by Trinity Consulting on July 18, 2002 at 01:47:40:

        want to file bankruptcy? He didn't give nearly enough information for you or anybody else to make that decision for him here. Sometimes bankruptcy is the lesser of a multitude of evils. are you trying to scare him into throwing you some business? : (0)


  • Posted by Nadine on July 13, 2002 at 13:58:58:

    We are three months behind on our first mortgage and 2 months behind on our second mortgage. The home is valued at $90,000 and our combined mortgage owed is $100,000 and we owe last year's property taxes of $1300. The house is falling apart and not even worth the hassle of fixing it up.

    Our first mortgage is in foreclosure review. Our total debt is $12,000 (excluding the mortgages) and we have exhausted all possibilities of getting any additional money.

    We spoke to a bankruptcy lawyer who basically told us to hurry up and decide if we want to go with a Chapter 11 or if we just wanted to pay our other bills and just walk away from the house.

    Do we have any options? : (1)


    • Posted by amanda on July 21, 2002 at 19:50:28:

      In Reply to: Foreclosure Info posted by Nadine on July 13, 2002 at 13:58:58:

      :What's the process of buying a forclosed home? : (0)


  • Posted by Danny on July 12, 2002 at 21:42:55:

    Hello,I'm currently living in a market in which real estae is through the roof, Long Island NY. In a local newpaper, under the legal notice section, I came across a few houses going up for auction due to Foreclosure. My questions are:

    1)Is this mainly an investors game?2)What should I know before entering the auction?3)How does the auction process work?4)Is this a typical auction in which the highest bidder is awarded the property?5)In the newspaper notification to bidders it read--"The lowest responsible bidder will be awarded".What does that imply?

    Any help would be greatly appreciated.

    -Danny : (0)


  • Posted by possibleforeclosure on July 12, 2002 at 12:18:44:

    Currently in Bk 13, and motion for relief was granted, I paid all funds that was in default (two days lays the BK courts granted mortion) can mortgage company foreclosure on my property...they attorney for the mortgage company states that my property is in foreclosure). Can this happen? I trying to get my attorney to file a motion to reinstate my loan, and having a lot of difficulty speaking to anyone. Please respond (I'm located in Georgia) : (1)


    • Posted by Been There Before on July 13, 2002 at 22:06:56:

      In Reply to: Motion for Relief posted by possibleforeclosure on July 12, 2002 at 12:18:44:

      I have been exactly where you are right now.We did the same where we paid the amount of the default and the relief was still granted. I have prrof of delivery in time and still they sent the money back and proceeded with foreclosure.My only suggestion if you cannot get any result from your attorney is to contact Reinstatement Services Inc.They can help you optain a workout with your lender and avoid sale.By the way, I am in no way affiliated with them. I do know first hand they are successful at achieving workouts.Good Luck!

    • Reinstatement Services Inc.
    : (0)

  • Posted by Christy on July 11, 2002 at 15:50:53:

    If the 1st position lender ($365,000)forecloses on a $425,000 appraised home, do I have to initiate foreclosure as well to regain my 2nd trust deed ($30,000). What type of notice is required? Can I contact the 1st mortgage lender who satisfied and replaced my remaining second?

    Christy : (7)


    • Posted by Bob H on July 11, 2002 at 20:28:41:

      In Reply to: 2nd trust deed position posted by Christy on July 11, 2002 at 15:50:53:

      Christy,

      What state is the property in? State laws vary widely - posting this information will help in getting your questions answered : (0)


    • Posted by Team One Investors on July 11, 2002 at 17:57:52:

      In Reply to: 2nd trust deed position posted by Christy on July 11, 2002 at 15:50:53:

      : If the 1st position lender ($365,000)forecloses on a $425,000 appraised home, do I have to initiate foreclosure as well to regain my 2nd trust deed ($30,000). What type of notice is required? Can I contact the 1st mortgage lender who satisfied and replaced my remaining second?

      : Christy

      I BELIEVE YOUR ALITTLE LATE! You have to foreclose first. You should have been monitoring the first mortgage like a hawk, so this would not have happened. You will have to buyout the 1st to secure your 2nd. I hope i'm wrong for your sake!

      : (5)


      • Posted by Christy on July 11, 2002 at 18:15:17:

        In Reply to: Re: 2nd trust deed position posted by Team One Investors on July 11, 2002 at 17:57:52:

        : : If the 1st position lender ($365,000)forecloses on a $425,000 appraised home, do I have to initiate foreclosure as well to regain my 2nd trust deed ($30,000). What type of notice is required? Can I contact the 1st mortgage lender who satisfied and replaced my remaining second?

        What if the 1st has sent notice to begin foreclosure 7/25/02. Don't I receive notice at some point. What about tax notice etc? What should I do-specifically?

        Christy

        : (0)


  • Posted by Tina on July 10, 2002 at 23:53:51:

    Help,I current own a condo that is current. Value is 155,000 and morgage is 118,000. I took a second to pay off credit cards for 45,000. Cards max'd. Filed chap7. In middle of discharge. I did not file on Condo, 2nd, or Car. Can I add these to existing ch 7? Can I simply walk away? I'm upsidedown. If I walk away are property taxes that are past due still owed? Will the 2nd still follow me??? Thank you. : (0)


  • Posted by Dian on July 10, 2002 at 19:06:58:

    I am in the process of leaving a 30 year marriage due to drinking. I have a house elsewhere and a new job. My husband does not work due to health problems he says. I don't plan on living in the house and I don't want it any more. If I try to sign it over to him he will refuse. I was advised to let it forclose if all else fails. I have immaculate credit and owe nothing on any credit cards. I don't want to ruin my credit. What should I do. I simply don't want to live there or have anything else to do with him or the house. : (1)


    • Posted by Ward-CA- on July 12, 2002 at 00:17:39:

      In Reply to: foreclosure/leaving/credit posted by Dian on July 10, 2002 at 19:06:58:

      : I am in the process of leaving a 30 year marriage due to drinking. I have a house elsewhere and a new job. My husband does not work due to health problems he says. I don't plan on living in the house and I don't want it any more. If I try to sign it over to him he will refuse. I was advised to let it forclose if all else fails. I have immaculate credit and owe nothing on any credit cards. I don't want to ruin my credit. What should I do. I simply don't want to live there or have anything else to do with him or the house.

      =•=•=•=•=•=•=•=•=•=•=

      Dian,

      You don’t actually need anyone’s permission to deed your property interest into their name. So you could call the customer service department of your local title company and ask for two things. First, get a copy of the most recent deed to the property. Second, get a blank copy of a quitclaim deed.

      With the two documents before you, just type the legal description from the existing deed onto the quitclaim deed. Then type your name (as it appears on the existing deed) on the quitclaim deed just before the recitation of the words, “hereby REMISE(S), RELEASE(S), AND FOREVER QUITCLAIM(S) to . .” (here you put your husband’s name).

      Up, at the top of the quitclaim deed, where it asks for an address to mail the document after recording put either a friend’s address or your home address depending on how circumspect you want to be as far as your husband is concerned.

      Sign the quitclaim deed in front of a notary public and then take it to the recorder’s office and record it. Now the property is out of your name and solely in your husband’s.

      Then before the inevitable foreclosure begins, make sure you have all of the financing you want in place on your other house. For example, if you just have a 1st lien on that property you might want to get an equity line of credit in place. That’s because it might be a spell where you won’t be able to get any additional financing after the foreclosure comes into play.

      Sure, you will be able to explain that you deeded your interest in the property to your husband months before the downfall began, and thus you were out of the picture at that time, but lenders will still think you were signatory on the loan, regardless of whether your name was still on title or not. However other creditors, won’t be that cognizant of such details and will not penalize you as far as the foreclosure is concerned.

      Good luck.

      : (0)


  • Posted by Ryan on July 10, 2002 at 16:07:58:

    I am extremely interested in foreclosures.I have experience as a handyman/remodeler in east TN.But, I don't have the cash to take to a sale.I think eventually once I build some capital I can be self sufficient. Buy properties, fix them up, sell them.How do I get started now? Can I get financing for a foreclosure?Thanks : (1)


    • Posted by Mary Hart on July 17, 2002 at 14:28:21:

      In Reply to: How do I get started? posted by Ryan on July 10, 2002 at 16:07:58:

      There is something called 203(k) these are funds for handyman specials and fixer-upers. Call Penn. Housing Finance Agency at717-780-3800. : (0)


  • Posted by Byron Smith on July 10, 2002 at 08:57:23:

    I am in Florida and my mortgage is in Foreclosure. A few weeks back I received from the Plantiff's attorney Plantiff's Motion For Summary Judgement with a hearing set for Fri. July 12,2002. What happens at this hearing? Will the Judge enter a Final Judgement, and if so how long after will an auction take place. Also, will the Judge rule right then and provide the date of the auction or will I receive a Final Judgement by mail? Any help on this would be greatly appreciated! : (0)


  • Posted by Susan on July 09, 2002 at 21:13:31:

    My husband & I are in the process of a divorce. He's letting the house go through bankruptcy or foreclosure(whatever happens first). I am not filing bankruptcy...I want to buy the house. I have offered to buy it from him, but he won't do it...his reason for filing bankruptcy is to prevent me from getting the house....he's vindictive. I've even asked him if he could let me know how many payments he's behind, so I could get an idea of where things are at and he won't do that. I called the bank...they couldn't give me any info because only his name is on the mortgage. This is frustrating! I've lived in that house for 10 years. So, how do I go about this? Should I write to the bank & bankruptcy trustee and let them know that I would like to buy the house?

    Susan : (5)


    • Posted by Nick(Colorado) on July 10, 2002 at 14:19:18:

      In Reply to: How to get the house back posted by Susan on July 09, 2002 at 21:13:31:

      Susan:

      To estimate your arrearage sum the following:

      1. Assume interest changes from three months prior to the date of trustee filing for the foreclosure. Note: If you mortgage has an in-default rate, the rate at this time will jump.

      2. Assume an attorney's fee of ~$800.

      3. Assume trustee's fees of ~$300

      4. Assume that there was an appraisal at current going local rates. $400-600.

      : (0)


    • Posted by Bob H on July 10, 2002 at 00:06:03:

      In Reply to: How to get the house back posted by Susan on July 09, 2002 at 21:13:31:

      Contacting the bank and/or the BK trustee won't do you any good. You need to be talking to your divorce attorney (if you don't have one, you need to hire one immediately).

      If you are in a community property state, you certainly have, at the very least, an equitable interest in the property. Ask your attorney what your rights are regarding the property. : (0)


    • Posted by StopForeclosure2 on July 09, 2002 at 21:39:40:

      In Reply to: How to get the house back posted by Susan on July 09, 2002 at 21:13:31:

      : My husband & I are in the process of a divorce. He's letting the house go through bankruptcy or foreclosure(whatever happens first). I am not filing bankruptcy...I want to buy the house. I have offered to buy it from him, but he won't do it...his reason for filing bankruptcy is to prevent me from getting the house....he's vindictive. I've even asked him if he could let me know how many payments he's behind, so I could get an idea of where things are at and he won't do that. I called the bank...they couldn't give me any info because only his name is on the mortgage. This is frustrating! I've lived in that house for 10 years. So, how do I go about this? Should I write to the bank & bankruptcy trustee and let them know that I would like to buy the house?

      : Susan

      Susan, sorry to say but your husband has the right to do whatever he wants to. The house is in his name alone you said. The bank will not do anything for you, if you want the house you can bid at the auction with all the other Investors, but you need all cash right then to buy it. Do you live in the house still, does he? Love to help ya, but sounds like no one want's to work things out. : (2)


      • Posted by Susan on July 09, 2002 at 21:53:28:

        In Reply to: Re: How to get the house back posted by StopForeclosure2 on July 09, 2002 at 21:39:40:

        : : My husband & I are in the process of a divorce. He's letting the house go through bankruptcy or foreclosure(whatever happens first). I am not filing bankruptcy...I want to buy the house. I have offered to buy it from him, but he won't do it...his reason for filing bankruptcy is to prevent me from getting the house....he's vindictive. I've even asked him if he could let me know how many payments he's behind, so I could get an idea of where things are at and he won't do that. I called the bank...they couldn't give me any info because only his name is on the mortgage. This is frustrating! I've lived in that house for 10 years. So, how do I go about this? Should I write to the bank & bankruptcy trustee and let them know that I would like to buy the house?

        : : Susan

        : Susan, sorry to say but your husband has the right to do whatever he wants to. The house is in his name alone you said. The bank will not do anything for you, if you want the house you can bid at the auction with all the other Investors, but you need all cash right then to buy it. Do you live in the house still, does he? Love to help ya, but sounds like no one want's to work things out.

        I understand that I can't stop him. I just thought that if I let the bank or trustee know that I want to buy the house, then perhaps I could buy it before it went up for auction. You need to pay in cash at an auction? That makes sense since I was wondering how they would know if the high bidder was qualified. Does this mean that you can't get a mortgage through a bank for it? I've never bought a house before, but I'm assuming the bank isn't going to hand me money for an auction.

        Susan : (1)


        • Posted by BDEXEC on July 10, 2002 at 10:25:06:

          In Reply to: Re: How to get the house back posted by Susan on July 09, 2002 at 21:53:28:

          : : : My husband & I are in the process of a divorce. He's letting the house go through bankruptcy or foreclosure(whatever happens first). I am not filing bankruptcy...I want to buy the house. I have offered to buy it from him, but he won't do it...his reason for filing bankruptcy is to prevent me from getting the house....he's vindictive. I've even asked him if he could let me know how many payments he's behind, so I could get an idea of where things are at and he won't do that. I called the bank...they couldn't give me any info because only his name is on the mortgage. This is frustrating! I've lived in that house for 10 years. So, how do I go about this? Should I write to the bank & bankruptcy trustee and let them know that I would like to buy the house?

          : : : Susan

          : : Susan, sorry to say but your husband has the right to do whatever he wants to. The house is in his name alone you said. The bank will not do anything for you, if you want the house you can bid at the auction with all the other Investors, but you need all cash right then to buy it. Do you live in the house still, does he? Love to help ya, but sounds like no one want's to work things out.

          : : I understand that I can't stop him. I just thought that if I let the bank or trustee know that I want to buy the house, then perhaps I could buy it before it went up for auction. You need to pay in cash at an auction? That makes sense since I was wondering how they would know if the high bidder was qualified. Does this mean that you can't get a mortgage through a bank for it? I've never bought a house before, but I'm assuming the bank isn't going to hand me money for an auction.

          : Susan

          Susan,

          If you need to findout who has the mortgage to the house, you could do two things. Contact a title company, give them the address and have them do a title search for you. Most likely they will charge you for it. The other thing that you could do is go to your county recorder's office and look it up on your own. Ask one of the clerks to help you and it doesn't cost anything.

          Hope this helps.

          : (0)


  • Posted by AMY From Ok on July 09, 2002 at 13:27:00:

    I have posted messages before on this site a few weeks back. We currently have hired a lawyer and filed the paper work out to file Chapter 7. He will actually file the documents in the next week with a court date in about 30 days after that. We own a home in Oklahoma and now live in Texas. We are letting the home go back, we really owe more than it can sell for. Its been for sale almost a year.

    We have not made a payment since May. Since we are letting it go back and do not want to keep it, how will this work? Foreclosure and Chapter 7, which comes first ? Will the morgage company contact me about the sale? We have already gave them our lawyers name. Wonder if the house does not sale for what we owe in conjunction with a Chapter 7?

    Can anybody shed any light here? Anything negative to exspect from this other than our credit being shot?

    : (1)


    • Posted by Andy on July 09, 2002 at 17:42:22:

      In Reply to: Foreclosure and Chapter 7 / Amy from OKLA posted by AMY From Ok on July 09, 2002 at 13:27:00:

      I just filed chapter 7 for the same reason. From what my lawyer told me...Your financial responsibility, when the BK7 is discharged is over. You will have to fill out the foreclosure paperwork that the bank will send but they will not go after you for any money (mortgage wise). The BK will stay (delay) the foreclosure for a little bit as well.

      Hope this helps...

      : : I have posted messages before on this site a few weeks back. We currently have hired a lawyer and filed the paper work out to file Chapter 7. He will actually file the documents in the next week with a court date in about 30 days after that. We own a home in Oklahoma and now live in Texas. We are letting the home go back, we really owe more than it can sell for. Its been for sale almost a year.

      : We have not made a payment since May. Since we are letting it go back and do not want to keep it, how will this work? Foreclosure and Chapter 7, which comes first ? Will the morgage company contact me about the sale? We have already gave them our lawyers name. Wonder if the house does not sale for what we owe in conjunction with a Chapter 7?

      : Can anybody shed any light here? Anything negative to exspect from this other than our credit being shot?

      : (0)


  • Posted by Buster Stratton on July 09, 2002 at 11:30:34:

    at witts end sold property to ex wifes step son he is behind 5 months,moved out, has purchased new dwelling after trashing ours and has said was in process of selling property and paying us off.Have avoided forclosure trying to help out ex's family but see no choice now but to forclose question is can at fault tennant mortgagor be charged all forclosure fees and be made to pay arrearage???? : (1)


    • Posted by Nick(Colorado) on July 10, 2002 at 15:19:50:

      In Reply to: family forclosure posted by Buster Stratton on July 09, 2002 at 11:30:34:

      Buster Stratton:

      Tenant or mortgagor? Was there a sale or no?

      Laws and procedures vary state-by-state. Generally all of the foreclosure costs, including attorney's fees, trustee's fees, and interest in arrears will be included in your memorandum of bid to the trustee.

      : (0)


  • Posted by Deborah Orr on July 09, 2002 at 11:24:09:

    I am looking for property in Walton County, Florida. Specifically, in the santa rosa beach or panama beach area. If you are having financial problems, I may be able to help. : (0)


  • Posted by hugs on July 08, 2002 at 22:43:10:

    My husband wants to buys homes and fix them for resale. If he were to loose his shirt so to speak in the market could my home be foreclosed upon? The house is in my name only (madien name) purchased at time of marriage but contracts signed weeks after marriage. Husband name is not on the home or mortgage. I live in Connecticut. I am worried about loosing my home if his plans were to fall through. Thanks for any insight : (0)


  • Posted by Theresa on July 08, 2002 at 19:33:05:

    If you know of property foreclosure listings in Middlesex County of Massachusetts, please send them to me.Thanks.T : (0)


  • Posted by John on July 08, 2002 at 17:50:23:

    In 94 I quitclaim deed our house over to my then wife, In 97 we divorced, with me having nothing to do with the house. In Jan of this year I find out I'm still on the mortgage and she never changed her name on the mortgage or deed. I sent the mortgage company all the paper work and they changed everything. Now on their web site it just has her has primary borrower and my name is no longer there. Well, two days ago she got a certified letter with a notice of intention to accelerate and foreclose unless the mortgage is paid in 30 days. The letter was only in her name. But the mortgage company says I'm still responsible, How can this be? : (2)


    • Posted by StopForeclosure2 on July 08, 2002 at 19:21:32:

      In Reply to: Divorce and Foreclosure posted by John on July 08, 2002 at 17:50:23:

      : In 94 I quitclaim deed our house over to my then wife, In 97 we divorced, with me having nothing to do with the house. In Jan of this year I find out I'm still on the mortgage and she never changed her name on the mortgage or deed. I sent the mortgage company all the paper work and they changed everything. Now on their web site it just has her has primary borrower and my name is no longer there. Well, two days ago she got a certified letter with a notice of intention to accelerate and foreclose unless the mortgage is paid in 30 days. The letter was only in her name. But the mortgage company says I'm still responsible, How can this be?

      John, you are still liable for the mortgage, because your wife never refinanced and got a new loan in her name alone. By quick claiming to her, you only gave her title to the property, which she ohs the right to sell and get all do funds. If you would like Foreclosure Relief let me know. Email me at StopForeclosure2@aol.com

      : (1)


      • Posted by njdave on July 09, 2002 at 17:17:31:

        In Reply to: Re: Divorce and Foreclosure posted by StopForeclosure2 on July 08, 2002 at 19:21:32:

        Just curious, in your professional opinion, what is a 'quick claim' to which you make reference? : (0)


  • Posted by Cindy on July 08, 2002 at 16:39:56:

    Is there any mortgage company out there that will finance us so we do not get forclosed on? We tried filing Chap 13 but was dismissed because of lack of funds....which isn't the case anymore. We made every payment until I was in a car accident 2 years ago!!!! Please help asap! Thanks!!! : (4)


    • Posted by Cindy on July 08, 2002 at 20:51:42:

      In Reply to: Need to Find a Mortgage Comapany......... posted by Cindy on July 08, 2002 at 16:39:56:

      : Is there any mortgage company out there that will finance us so we do not get forclosed on? We tried filing Chap 13 but was dismissed because of lack of funds....which isn't the case anymore. We tried reinstatement but they want almost 14,000 and we have no savings left, we had to take it for medical bills from my accident. We made every payment until I was in a car accident 2 years ago!!!! Please help asap! Thanks!!!



      : (0)


    • Posted by Reinstatement Services, Inc. on July 08, 2002 at 16:45:35:

      In Reply to: Need to Find a Mortgage Comapany......... posted by Cindy on July 08, 2002 at 16:39:56:

      Have you thought about petitioning your lender for workout relief as an alternative to foreclosure?

    • Default and Foreclosure Mediation
    : (2)

    • Posted by Cindy on July 08, 2002 at 20:12:43:

      In Reply to: Re: Need to Find a Mortgage Comapany......... posted by Reinstatement Services, Inc. on July 08, 2002 at 16:45:35:

      Yes, we were in that just after hubby's heart attack.....and when I had my accident we missed one payment and that is why they are forclosing. : (1)


      • Posted by Reinstatement Services, Inc. on July 08, 2002 at 20:24:32:

        In Reply to: Re: Need to Find a Mortgage Comapany......... posted by Cindy on July 08, 2002 at 20:12:43:

        Unfortunately you're learning the hard way that once you have a forbearance agreement in place, by not honoring the terms to the letter you risk renewed and more agressive collection activity...not to mention nullification of the agreement.

        Still, because you have 1 broken agreement with your lender doesn't mean that another agreement can't be drafted.

        In this instance, persistance and a workable plan are key.

      • Default and Foreclosure Mediation
      : (0)

  • Posted by sabber on July 08, 2002 at 12:34:40:

    We had put an offer on a house that will be going to foreclosure if things don't go through. We are selling our current house and it looks like that offer is falling through due to home inspection. Can a foreclosure be extended so we can see if we can manage a bride loan (although we really don't want to do that) seeing as we don't want to lose out on this beautiful house. If so, how long will they normally extend the foreclosure. I have other people coming to look at our current property this weekend and hoping they will be putting an offer in, but that would be at the least another 30 to 45 days before it would all go through.

    Another added note. Our appraisal on the house that is foreclosing came back at a tiny bit over what we offered and they owe more on the house then what we offered and they have to take out a loan to make the difference. Would the bank be more willing to extend seeing as they may lose out on any of the extra payments?

    Thank you! : (0)


  • Posted by Diana on July 07, 2002 at 23:26:37:

    I've been trying to sell my home for 5 months with no luck. I'm divorced and can't make the payments anymore. huge house, huge payment, little equity. I also have more than 20,000 in debt. I need to move before kids start school and time is running out. My question is this: do I let the bank foreclose on the house or file bankruptcy? which is a worse mark on my record? also, I've read here about a "short sale". what is that? : (2)


    • Posted by sherry on July 10, 2002 at 10:58:24:

      In Reply to: no luck selling, lots of debt posted by Diana on July 07, 2002 at 23:26:37:

      : I've been trying to sell my home for 5 months with no luck. I'm divorced and can't make the payments anymore. huge house, huge payment, little equity. I also have more than 20,000 in debt. I need to move before kids start school and time is running out. My question is this: do I let the bank foreclose on the house or file bankruptcy? which is a worse mark on my record? also, I've read here about a "short sale". what is that?

      Diana, were is the house at? : (0)


    • Posted by Reinstatement Services, Inc on July 08, 2002 at 01:13:12:

      In Reply to: no luck selling, lots of debt posted by Diana on July 07, 2002 at 23:26:37:

      It is important to note that Foreclosure and Bankruptcy are not interchangeable. The lender foreclosing will accomplish severing your legal ties to the property. Bankruptcy might not.

      If you're looking to reorganize [or rid yourself of] your debt [bankruptcy] might be an alternative although it should be used as the last ditch effort for relief.

      If you are looking to rid yourself of the property, a deed-in-lieu might accomplish what you're seeking.

      5 months on the market does not mean every option has been explored. Perhaps, a short sale [lender agrees to accept less than the amount owed to satisfy the debt] might be another avenue worth exploration.

    • Default and Foreclosure Mediation
    : (0)

  • Posted by Dee on July 07, 2002 at 17:05:21:

    Does any have a list or info on how to go about or get in touch with companies that may be interested in buying a home for well less then the FMV prior to any forsclosure proceedings? Thank you. : (5)


    • Posted by Joe on July 18, 2002 at 01:59:21:

      In Reply to: A list or info on how to get in touch with home investors posted by Dee on July 07, 2002 at 17:05:21:

      : Does any have a list or info on how to go about or get in touch with companies that may be interested in buying a home for well less then the FMV prior to any forsclosure proceedings? Thank you.

      I am a private investor that will pay cash for homes. Closings are within 10 days.Please call me. Joe Daujotas 847-571-0765 : (0)


    • Posted by Denkers R. E. Investments on July 12, 2002 at 18:55:24:

      In Reply to: A list or info on how to get in touch with home investors posted by Dee on July 07, 2002 at 17:05:21:

      : Dee you can get in touch wiyh me.

      Bob Denkers : (0)


    • Posted by Bob on July 12, 2002 at 18:53:45:

      In Reply to: A list or info on how to get in touch with home investors posted by Dee on July 07, 2002 at 17:05:21:

      : Does any have a list or info on how to go about or get in touch with companies that may be interested in buying a home for well less then the FMV prior to any forsclosure proceedings? Thank you.

      : (0)


    • Posted by New Vision Properties on July 07, 2002 at 19:57:07:

      In Reply to: A list or info on how to get in touch with home investors posted by Dee on July 07, 2002 at 17:05:21:

      : Does any have a list or info on how to go about or get in touch with companies that may be interested in buying a home for well less then the FMV prior to any forsclosure proceedings? Thank you.

      Dee, you may contact us with what you have available as we buy Nation Wide. : (0)


    • Posted by Team One Investors on July 07, 2002 at 18:11:35:

      In Reply to: A list or info on how to get in touch with home investors posted by Dee on July 07, 2002 at 17:05:21:

      : Does any have a list or info on how to go about or get in touch with companies that may be interested in buying a home for well less then the FMV prior to any forsclosure proceedings? Thank you.

      Dee, I don't know of any list, but I know alot of investors nationwide that buy preforeclosures. Is that what your looking for? I may be able to help you! email me!

      : (0)


  • Posted by Dee on July 07, 2002 at 17:01:58:

    Can the bank or lender attach you or your spouses paycheck for a home going to foreclosure? Has this happened to anyone and or can it possibly happen? Thanks for any info.

    Dee : (0)


  • Posted by sam on July 07, 2002 at 01:25:21:

    if my house foreclosure,and the morg. around 68,000. so if the house slod foreclosure less than the 68,000 .what gona happaned ,i v to pay the differnce or what and hong it takes to get of my credit history.if anyone can answer me.thankx : (0)


  • Posted by Dee on July 06, 2002 at 19:49:36:

    When a forclosed home goes to auction how is the start price determined. : (2)


    • Posted by Kat S. on July 07, 2002 at 02:09:41:

      In Reply to: How is auction price determined posted by Dee on July 06, 2002 at 19:49:36:

      : When a forclosed home goes to auction how is the start price determined. Usually the Bank holding the mortgage makes the first bid so they are assured to recoup everything owed them. Talk to the attorney handling the auction.

      : (0)


    • Posted by StopForeclosure2 on July 06, 2002 at 20:49:39:

      In Reply to: How is auction price determined posted by Dee on July 06, 2002 at 19:49:36:

      : When a forclosed home goes to auction how is the start price determined.

      Usually the opening bid starts at the balance of your mortgage that is foreclosing. If there is no bid then it will go back to the bank (REO DEPT). Hope this helps! : (0)


  • Posted by Cindy on July 06, 2002 at 13:21:30:

    I had filed bankruptcy to save my home and at one point the trustees office inadvertantly dismissed my bankruptcy and the mortgage company thru me back in foreclosure and sold my property at auction. In the meantime the judge reinstated my bk prior to the sale, so then the judge set aside the sale and gave me 60 days to refinance. I am having a heck of a time finding refinancing and dont know what to do now : (5)


    • Posted by StopForeclosure2 on July 06, 2002 at 14:08:40:

      In Reply to: foreclosure posted by Cindy on July 06, 2002 at 13:21:30:

      : I had filed bankruptcy to save my home and at one point the trustees office inadvertantly dismissed my bankruptcy and the mortgage company thru me back in foreclosure and sold my property at auction. In the meantime the judge reinstated my bk prior to the sale, so then the judge set aside the sale and gave me 60 days to refinance. I am having a heck of a time finding refinancing and dont know what to do now

      Cindy, I hate to send bad news, but there is no lender that will let you borrow money if your recent payment history is slow reguardless of how much equity you may have. The only solution I see for you is to get in touch with Reinstatement Services and have them mediate for you or sell your home to an Investor quickly to aviod foreclosure. I can help you with credit repair to delete any derogatory items on your 3 credit reports legally. It's not the end of the road for you, just some obsticals to over come. email me!

      : (3)


      • Posted by Howard Hill on July 07, 2002 at 14:16:07:

        In Reply to: Re: foreclosure posted by StopForeclosure2 on July 06, 2002 at 14:08:40:

        What state are you in Cindy?

        : Cindy, I hate to send bad news, but there is no lender that will let you borrow money if your recent payment history is slow reguardless of how much equity you may have. The only solution I see for you is to get in touch with Reinstatement Services and have them mediate for you or sell your home to an Investor quickly to aviod foreclosure. I can help you with credit repair to delete any derogatory items on your 3 credit reports legally. It's not the end of the road for you, just some obsticals to over come. email me!

        : (0)


      • Posted by njdave on July 06, 2002 at 19:39:21:

        In Reply to: Re: foreclosure posted by StopForeclosure2 on July 06, 2002 at 14:08:40:

        While I agree the RSI provides a good service (that I recommend), I can't agree that "no lender will make a loan regardless of how much equity....." That's nonsense. Hard money lenders are out there.. However, I don't necessarily advise that one should refinance with a hard money lender, sacificing equity, simply to postpone an inevitable situation..... : (0)


      • Posted by Cindy Stevens on July 06, 2002 at 14:47:22:

        In Reply to: Re: foreclosure posted by StopForeclosure2 on July 06, 2002 at 14:08:40:

        : : I had filed bankruptcy to save my home and at one point the trustees office inadvertantly dismissed my bankruptcy and the mortgage company thru me back in foreclosure and sold my property at auction. In the meantime the judge reinstated my bk prior to the sale, so then the judge set aside the sale and gave me 60 days to refinance. I am having a heck of a time finding refinancing and dont know what to do now

        : Cindy, I hate to send bad news, but there is no lender that will let you borrow money if your recent payment history is slow reguardless of how much equity you may have. The only solution I see for you is to get in touch with Reinstatement Services and have them mediate for you or sell your home to an Investor quickly to aviod foreclosure. I can help you with credit repair to delete any derogatory items on your 3 credit reports legally. It's not the end of the road for you, just some obsticals to over come. email me!

        I've been trying to sell to an investor with the right to buy back in a year but my lawyer tells mw I cant do that and I don't see why I can't. Do you know if I have the right do sell to a third party with a purchase/lease with option to buy? : (0)


    • Posted by StopForeclosure2 on July 06, 2002 at 14:08:10:

      In Reply to: foreclosure posted by Cindy on July 06, 2002 at 13:21:30:

      : I had filed bankruptcy to save my home and at one point the trustees office inadvertantly dismissed my bankruptcy and the mortgage company thru me back in foreclosure and sold my property at auction. In the meantime the judge reinstated my bk prior to the sale, so then the judge set aside the sale and gave me 60 days to refinance. I am having a heck of a time finding refinancing and dont know what to do now

      Cindy, I hate to send bad news but, there is no lender that will let you borrow money if your recent payment history is slow reguardless of how much equity you may have. The only solution I see for you is to get in touch with Reinstatement Services and have them mediate for you or sell your home to an Investor quickly to aviod foreclosure. I can help you with credit repair to delete any derogatory items on your 3 credit reports legally. It's not the end of the road for you, just some obsticals to over come. email me!

      : (0)


  • Posted by Kevin on July 06, 2002 at 13:01:26:

    Hi. I'm new to real estate investing. Regarding distressed/foreclosure properties, is there a standard formula or list of exact steps (in order) that are used in analyzing properties? Is there software for this analysis available? If so, where can I find them? I'm getting overwhelmed with all the things to consider when making an offer, and I cannot afford to lose any money. : (0)


  • Posted by Gardenia on July 06, 2002 at 12:27:02:

    I have a sheriff sale coming up on my property in September 2002. I have also defaulted on my mortgage payments....not wanting the property anymore...just abandoning it.

    I have people inquiring still about one of the apartments I have for rent in the building. May I still rent to them on a month to month basis? Or if a lease, would a lease created in July be legal and binding to the new owners in September so that my tenant would be protected from eviction?

    Just curious and could use the rental money.

    Thanks. : (2)


    • Posted by Kat S. on July 07, 2002 at 02:15:15:

      In Reply to: Renting while in preparation for sheriff sale in Sept. posted by Gardenia on July 06, 2002 at 12:27:02:

      : I have a sheriff sale coming up on my property in September 2002. I have also defaulted on my mortgage payments....not wanting the property anymore...just abandoning it.Why would you choose to abandon when you could possibly walk away with some cash? Talk to a Realtor you trust. It's not to late!There should be a reciever appointed by your contract holder or mortgage lender who all rents should be turned over to during the process. At least that is in my State.

      : I have people inquiring still about one of the apartments I have for rent in the building. May I still rent to them on a month to month basis? Or if a lease, would a lease created in July be legal and binding to the new owners in September so that my tenant would be protected from eviction?

      : Just curious and could use the rental money.

      : Thanks.

      : (1)


      • Posted by Gardenias on July 07, 2002 at 08:02:05:

        In Reply to: Re: Renting while in preparation for sheriff sale in Sept. posted by Kat S. on July 07, 2002 at 02:15:15:

        To Kat S."Realtors I can trust???" That is an oxymoron.The building is being eaten by termites and it was sold to me with live infestation and no realtor would testify against another nine years ago nor would the state bureau do anything against this prominent ominipotent realtor in the area.

        I don't know where you are from, but welcome to small town America. I had the building up for sale with both regular and commercial realtors and they treated the property like the pariah it is based on its history in this provincial close-minded area. They showed it to no one. Not once.

        This is why I am sick of the whole thing......but wondered about some last minute possible revenue through an eager potential renter.





        : : I have a sheriff sale coming up on my property in September 2002. I have also defaulted on my mortgage payments....not wanting the property anymore...just abandoning it.: Why would you choose to abandon when you could possibly walk away with some cash? Talk to a Realtor you trust. It's not to late!: There should be a reciever appointed by your contract holder or mortgage lender who all rents should be turned over to during the process. At least that is in my State.

        : : I have people inquiring still about one of the apartments I have for rent in the building. May I still rent to them on a month to month basis? Or if a lease, would a lease created in July be legal and binding to the new owners in September so that my tenant would be protected from eviction?

        : : Just curious and could use the rental money.

        : : Thanks.

        : (0)


  • Posted by Adam t. Perez on July 04, 2002 at 14:02:43:

    Just O.K. credit and little money,but still would like to own a home. : (3)


    • Posted by Kelvin Munnings on July 09, 2002 at 16:51:06:

      In Reply to: buying a foreclosed home posted by Adam t. Perez on July 04, 2002 at 14:02:43:

      : Just O.K. credit and little money,but still would like to own a home.

      : (0)


    • Posted by Howard Hill on July 07, 2002 at 14:28:38:

      In Reply to: buying a foreclosed home posted by Adam t. Perez on July 04, 2002 at 14:02:43:

      : Just O.K. credit and little money,but still would like to own a home.

      If you are just interested in owning a home to live in I would suggest not trying to buy a foreclosure. Instead shop mortgage brokers and Lenders for 100%+ programs that can get you into a home for little money down. : (0)


    • Posted by Ward-CA- on July 04, 2002 at 17:22:59:

      In Reply to: buying a foreclosed home posted by Adam t. Perez on July 04, 2002 at 14:02:43:

      : Just O.K. credit and little money,but still would like to own a home.

      =•=•=•=•=•=•=•=•=•=•=

      Save up about 10K to 15K and you'll be able to buy from an owner before the foreclosure auction. You'll need the money for reinstating the delinquent liens, rehabbing and paying some cash to the departing owner.

    • Unique, one-on-one foreclosure training.
    : (0)

  • Posted by paula on July 04, 2002 at 11:01:02:

    I cosigned on a mobile home for my daughter and finance, now they split.Any suggestions on getting out of this mess?Lease option?Move out of mobile park and buy land, set up and use as rental property? (I already have 9 rental props, so I do have experience in this area).Anyone have estimated total cost of buying lot, moving and setting up mobile home (dbl wide) with utilities, etc. Bottom line cost?Thank you. : (0)


  • Posted by mine on July 04, 2002 at 10:38:35:

    We are currently in foreclosure in the state of wisconsin with the date set for July 25. The home has two mortages on it and the first mortage is doing the foreclosure. What happens to the other mortage? Will they just be out or will they still come after us for their money? We were thinking about filing bankruptcy on this situation and we were also wondering if we did this would this end the foreclosure on the house totally or would we end up with a bankrupcty and a foreclosure on our credit report? One more thing how long does a foreclosure stay on your credit report, I know a bankrupcty stays on the ten years but what about a foreclosure? Thanks!!! : (2)


    • Posted by Joe on July 18, 2002 at 02:07:43:

      In Reply to: foreclosure with more than one lien in Wisconsin posted by mine on July 04, 2002 at 10:38:35:

      : We are currently in foreclosure in the state of wisconsin with the date set for July 25. The home has two mortages on it and the first mortage is doing the foreclosure. What happens to the other mortage? Will they just be out or will they still come after us for their money? We were thinking about filing bankruptcy on this situation and we were also wondering if we did this would this end the foreclosure on the house totally or would we end up with a bankrupcty and a foreclosure on our credit report? One more thing how long does a foreclosure stay on your credit report, I know a bankrupcty stays on the ten years but what about a foreclosure? Thanks!!!

      We specialize in cases like yours.Best advise is to not declair bankruptcy. It lasts for 10 years.Do you have an income to make the backpayments?Call me and I can discuss your options.Joe @ Trinity Consulting847-571-0765

      : (0)


    • Posted by Dan Williams on July 12, 2002 at 08:46:44:

      In Reply to: foreclosure with more than one lien in Wisconsin posted by mine on July 04, 2002 at 10:38:35:

      : We are currently in foreclosure in the state of wisconsin with the date set for July 25. The home has two mortages on it and the first mortage is doing the foreclosure. What happens to the other mortage? Will they just be out or will they still come after us for their money? We were thinking about filing bankruptcy on this situation and we were also wondering if we did this would this end the foreclosure on the house totally or would we end up with a bankrupcty and a foreclosure on our credit report? One more thing how long does a foreclosure stay on your credit report, I know a bankrupcty stays on the ten years but what about a foreclosure? Thanks!!!

      Foreclosure will stay on your credit report for 7 years. For advice regarding your foreclosure, contact Catholic Charities Housing Counseling Program. (715)394-6617 : (0)


  • Posted by Steve S. on July 04, 2002 at 07:29:11:

    I recently found a house that is going into foreclosure. It has 3 liens...the 1st and 2nd liens are 1 bank and the 3rd is another. The amount owed on the house is about $125,000 more than it is worth. The owner are willing to sell...how do I neg. with the banks to get the house for fair market value. Any help would be great!!! Please respond : (1)


    • Posted by TheShortSalePro on July 04, 2002 at 08:58:13:

      In Reply to: Short Sale posted by Steve S. on July 04, 2002 at 07:29:11:

      Hopefully, mortgage lien #1 is anything but an FHA insured mortgage loan. I'd start with the most junior lien #3)... offering to buy that lien for pennies on the dollar via an assignment. Then approach the next junior lien (#2) and either offer to buy that lien... or ask that they consider a short sale.

      If you are serious about pursuing this particular property... you'll have to devote/risk some resources. You'll need to prepare a supported presentation to convince the mortgagees that it is in their best financial interest to accept your Proposal. You'll also need the Seller's cooperation. : (0)


  • Posted by lori u. on July 03, 2002 at 23:20:56:

    my home was foreclosed on, but it looks as if i have a buyer who will redeem it before the redemption period is up. my question is, can i ever expect to be able to own a home again? i will have this foreclosure and a bankruptcy on my credit report. are there any companies out there that help with home ownership after a past foreclosure?

    i am talking like 3 to 5 years in the future; will be renting until then.

    thank you for any info anyone can provide. : (2)


    • Posted by Ward-CA- on July 04, 2002 at 20:52:54:

      In Reply to: home ownership after foreclosure posted by lori u. on July 03, 2002 at 23:20:56:

      : my home was foreclosed on, but it looks as if i have a buyer who will redeem it before the redemption period is up. my question is, can i ever expect to be able to own a home again? i will have this foreclosure and a bankruptcy on my credit report. are there any companies out there that help with home ownership after a past foreclosure?

      : i am talking like 3 to 5 years in the future; will be renting until then.

      : thank you for any info anyone can provide.

      =•=•=•=•=•=•=•=•=•=•=

      Yes Lori, time heals all wounds, even a foreclosure.

      About 90% of the sting will be gone after two years and credit card companies will be soliciting your patronage. By three years there will be some lenders willing to make you a home loan. By five years even the most conservative lenders will make you a home loan, given the premise that you have a good, clean credit record since the foreclosure occurred.

      So hunker down and push on with your life and dreams. Rebuild by paying your rent and utilities a few days earlier than required. Then keep up that habit and stretch it to 5 days early. Don’t miss a payment deadline no matter what and before long you will have a pristine payment record.

      Treat your credit record as a precious asset, to be protected and guarded at all costs, and you will never have to go through another foreclosure.

      Good luck.

    • Unique, one-on-one foreclosure training.
    : (1)

    • Posted by Mary Hart on July 17, 2002 at 14:49:42:

      In Reply to: Time does heal all wounds... posted by Ward-CA- on July 04, 2002 at 20:52:54:

      Lori, Ward gave you good advice. I work in that field and that's what I tell my clients. : Yes Lori, time heals all wounds, even a foreclosure.

      : About 90% of the sting will be gone after two years and credit card companies will be soliciting your patronage. By three years there will be some lenders willing to make you a home loan. By five years even the most conservative lenders will make you a home loan, given the premise that you have a good, clean credit record since the foreclosure occurred.

      : So hunker down and push on with your life and dreams. Rebuild by paying your rent and utilities a few days earlier than required. Then keep up that habit and stretch it to 5 days early. Don’t miss a payment deadline no matter what and before long you will have a pristine payment record.

      : Treat your credit record as a precious asset, to be protected and guarded at all costs, and you will never have to go through another foreclosure.

      : Good luck.

      : (0)


  • Posted by John S. on July 03, 2002 at 14:31:02:

    Does anyone know of any service that provides Preforeclosure data for Pennsylvania? Any recommendation would be greatly appreciated.

    Thanks,John : (0)


  • Posted by john savitski on July 03, 2002 at 14:08:46:

    Can anyone please refer me to a company that provides preforeclosure listings for PA? Most companies just provide auction dates and REO listings for PA but I want to contact the people in default before their properties go to auction hence Preforeclosures. I really want to avoid going down to my courthouse to generate a list. Any referral or recommendation would be greatly appreciated. Thanks. : (0)


  • Posted by stony curtis on July 02, 2002 at 21:29:58:

    My brother borrowed $120K from my mother who recently died - the promissory note (in MN) was backed by a mortgage on his house. His house was purchased at $320K and he has a bank mortgage for the other $200K.

    He's not paying down the note to use (3 sibs) as directed and my sister wants to foreclose on him!

    I want this over fast and want the most money out of this mess - what's the best way to make it happen? Call in the note and foreclose?

    Thanks! : (2)


    • Posted by Ward-CA- on July 04, 2002 at 22:50:11:

      In Reply to: Foreclosing on my brother? posted by stony curtis on July 02, 2002 at 21:29:58:

      : My brother borrowed $120K from my mother who recently died - the promissory note (in MN) was backed by a mortgage on his house. His house was purchased at $320K and he has a bank mortgage for the other $200K.

      : He's not paying down the note to use (3 sibs) as directed and my sister wants to foreclose on him!

      : I want this over fast and want the most money out of this mess - what's the best way to make it happen? Call in the note and foreclose?

      : Thanks!

      =•=•=•=•=•=•=•=•=•=•=

      Stony,

      Loans made between friends and relatives are some of the toughest credit situations to be in because of the fear of tearing apart the relationships involved. However, in this case you didn’t put yourself in this spot, Mom did.

      Now let’s look at the practical side of this predicament.

      I am going to assume some facts, so please let me know if I’m in error:

      1. I assume that the bank is the first mortgage holder and Mom’s is the second mortgage.

      2. I assume that MN is not a hot real estate market—that property appreciates very slowly there, like 2% or less per year. Therefore, I presume that the property is worth no more than the combined debt of the 1st and 2nd, which appears to total approximately $320,000 the stated present fair market value of the property.

      Now from a lender’s point of view, the idea of foreclosing against a delinquent mortgage is to force a borrower to pay up their delinquent payments and late fees or proceed to a foreclosure auction where an outside bidder will pay off the lender’s debt 100%.

      To attract an outside bidder to a foreclosure auction the lender’s opening bid plus the balance of the senior liens have to equal no more than approximately 75% to 80% of the current market value of the property. If the potential profit is less than 20% to 25% of the current value of the property there won’t be any interested outside bidders and the title to the property will go to the foreclosing lender.

      Now in this case there’s no potential profit to attract any outside bidder to the foreclosure sale of the 2nd mortgage. The debts against the property equal 100% of its market value, not 75%. Therefore, for the lack of any outside bidders, you three siblings face the prospect of taking title to the property yourselves.

      That’s really not an inviting prospect since you would then have to evict your brother and his family and then have to prepare the house for sale and grind out a protracted resale while making up all the delinquent payments on the first and then keeping up those monthly payments along with paying the property taxes and insurance.

      So, if I were in your shoes I would start out the opening bid at the auction at less than what was owed. I would start it at no more than $50,000 rather than the $120,000. That way a bidder at your foreclosure sale would be getting the property for a cash outlay of $50K and take title subject to the 1st mortgage of $200,000 for a total overall cost $250,000—which is about 20 % less than the property’s $320,000 fair market value.

      Yes, you’d only get $50,000 to divvy up between the three of you, but you would have done your best under an awkward situation and resolved a malingering problem that could go on for years. I doubt if the house’s appreciation would even keep up with the growing balance on your unpaid lien.

      Another alternative is to try to sell your $120K non-performing note and mortgage for, let’s say $50,000—70,000 to some note buyer who’s got more money than brains.

      Now if I am mistaken, and your Mom’s note and mortgage is in 1st place, then this whole scenario would be different. In that case I’d take the property all the way to foreclosure sale for the whole enchilada and get paid 100% of what is owed.

      Hope this helps.

    • Unique, one-on-one foreclosure training.
    : (0)

  • Posted by Reinstatement Services, Inc. on July 03, 2002 at 00:37:13:

    In Reply to: Foreclosing on my brother? posted by stony curtis on July 02, 2002 at 21:29:58:

  • Default and Foreclosure Mediation : (0)

  • Posted by Terri on July 02, 2002 at 16:57:29:

    We have overextended ourselves! We contracted with Consumer Credit Counseling 12/01 and have managed to make payments to them by borrowing MORE $$$. We have a first and second mortgage on our home, no equity, in fact home is worth about 20.000 less than what is owed. Have searched the internet for months trying to get help. A "stop foreclosure Company" tried and had no luck with our lenders. Have contacted both lenders personally trying to lower interest--no help! We are only 1 month late now but have exhausted all resources for future payments. We simply don't have the income to cover debts. (our income was reduced in March by $420.00 (due to child support payments stopped) Bankruptcy is something we DO NOT wish to pursue. I can't sleep due to stress. Really need advice. : (2)


    • Posted by Mary Hart on July 17, 2002 at 14:56:59:

      In Reply to: Need help! posted by Terri on July 02, 2002 at 16:57:29:

      If you have credit card debt they are not going to take your home if you don't pay. Your number ONE priority is paying your mortgage. The 2nd mortgage on your home has to take a back seat to the first mortgage. the 2nd mortgage can't foreclose on your property because the 1st mortgage has priority. If you don't pay the 1st mortgage,they can foreclose. Once they get paid then the 2nd mortgage will get what is owed them. : (0)


    • Posted by Ward-CA- on July 04, 2002 at 18:12:54:

      In Reply to: Need help! posted by Terri on July 02, 2002 at 16:57:29:

      : We have overextended ourselves! We contracted with Consumer Credit Counseling 12/01 and have managed to make payments to them by borrowing MORE $$$. We have a first and second mortgage on our home, no equity, in fact home is worth about 20.000 less than what is owed. Have searched the internet for months trying to get help. A "stop foreclosure Company" tried and had no luck with our lenders. Have contacted both lenders personally trying to lower interest--no help! We are only 1 month late now but have exhausted all resources for future payments. We simply don't have the income to cover debts. (our income was reduced in March by $420.00 (due to child support payments stopped) Bankruptcy is something we DO NOT wish to pursue. I can't sleep due to stress. Really need advice. ============

      To increase your income perhaps you could take in boarders or perhaps simply rent out part of your house to make up the difference : (0)


  • Posted by Amanda on July 02, 2002 at 15:10:48:

    I am in the process of buying a new home. On my credit report appeared a lendor with whom I assumed a mortgage. At the time I assumed the mortgage, we also got a 2nd mort. with the seller. After my husband and I seperated the previous owner foreclosed and took the house back, approx. 4 yrs. ago. I cannot get a new loan for my new house until I can clear my name off of the previous loan. I have not told my new lender that it was a foreclosure, I only mentioned that it was assumed by another party (the new owner has been late 26 times). Is there any way to remove the old lendor from my credit report or have my name taken off the mortgage? : (2)


    • Posted by Ward-CA- on July 04, 2002 at 23:13:28:

      In Reply to: assumption or foreclosure posted by Amanda on July 02, 2002 at 15:10:48:

      : I am in the process of buying a new home. On my credit report appeared a lendor with whom I assumed a mortgage. At the time I assumed the mortgage, we also got a 2nd mort. with the seller. After my husband and I seperated the previous owner foreclosed and took the house back, approx. 4 yrs. ago. I cannot get a new loan for my new house until I can clear my name off of the previous loan. I have not told my new lender that it was a foreclosure, I only mentioned that it was assumed by another party (the new owner has been late 26 times). Is there any way to remove the old lendor from my credit report or have my name taken off the mortgage?

      =•=•=•=•=•=•=•=•=•=•=

      Amanda,

      The lender on the loan you willingly assumed is the only one who can release you from your obligation to pay the loan. Seeing the crummy payment record on that loan by the current owner of the house, I don’t think the lender is in any mood to release you.

      And if that’s not bad enough, when your old lender has had enough and sees an opportunity to get paid off via a foreclosure sale, it will occur in your name and lodge against your credit record, rather than the current owner’s name/credit. Why? Because you are the named borrower on that loan, not the current owner!! Your credit will feel the heat from that foreclosure for at least 5 to 7 years.

    • Unique, one-on-one foreclosure training.
    : (0)

  • Posted by Tim Williams on July 02, 2002 at 13:59:33:

    I just missed out on two HUD properties because theywere still closed to investment buyers.If I buy as an owner occupant( even though I am not,)what are the chances HUD will find out, and what will they do about it if they do find out?My email is timw@erols.comThanks! : (2)


    • Posted by Laura on July 18, 2002 at 14:49:10:

      In Reply to: Will HUD fine investors who buy owner occupied listings? posted by Tim Williams on July 02, 2002 at 13:59:33:

      : I just missed out on two HUD properties because they: were still closed to investment buyers.: If I buy as an owner occupant( even though I am not,): what are the chances HUD will find out, and what will they : do about it if they do find out?: My email is timw@erols.com: Thanks!

      : (1)


      • Posted by Laura on July 18, 2002 at 14:50:48:

        In Reply to: Re: Will HUD fine investors who buy owner occupied listings? posted by Laura on July 18, 2002 at 14:49:10:

        : : I just missed out on two HUD properties because they: : were still closed to investment buyers.: : If I buy as an owner occupant( even though I am not,): : what are the chances HUD will find out, and what will they : : do about it if they do find out?: : My email is timw@erols.com: : Thanks!

        friendly advace DO NOT do it, they will find out and can go to jail for 1 year. : (0)


  • Posted by dave on July 02, 2002 at 12:45:44:

    How does one go about working this out with their bank. What are the steps? Do you generally have to pay anything (fee's, continued mortgage) the home in question is worth about 235,000 but the loan is only 213,000. Having a hardtime selling becuase our economy is pretty bad. Homes in the 150 to 200 are selling but very little over that. Thanks for any info. : (3)


    • Posted by Vac on July 20, 2002 at 21:00:40:

      In Reply to: deed-in-lieu of foreclosure posted by dave on July 02, 2002 at 12:45:44:

      I contacted my lender about the deed in lieu. We started "talking" in Feb and to date, we have no resolution. The first thing that they told me was that the house needed to be on the market for 90 days, once that passed (in May) they requested paperwork and stated that they would respond in no more that 45 days. To date, not a word. I have similar problem as Dave. House valued at @ 175,000 - houses at 150,000 (new builds) going fast, we have not had any offers on ours

      : (0)


    • Posted by Ward-CA- on July 04, 2002 at 23:38:47:

      In Reply to: deed-in-lieu of foreclosure posted by dave on July 02, 2002 at 12:45:44:

      : How does one go about working this out with their bank. What are the steps? Do you generally have to pay anything (fee's, continued mortgage) the home in question is worth about 235,000 but the loan is only 213,000. Having a hardtime selling becuase our economy is pretty bad. Homes in the 150 to 200 are selling but very little over that. Thanks for any info.

      =•=•=•=•=•=•=•=•=•=•=

      Dave,

      You have to convince your bank that it’s in its best interest to take a deed from you right now rather than spending the time and money foreclosing against you.

      To start you’d have to show them that they would not be getting the title to the property with any other liens against it except their own.

      You would also need to point out that now’s the time for them to resell the property and get top dollar rather than months from now when the market is much more quiescent.

      You’d need to demonstrate that taking the property now would be less costly than proceeding with a foreclosure and all the costs attendant to that choice and the needless risk of finding themselves in a declining market as this economy wallows about due to the debacle on Wall St. and the specter of escalating war in the Middle East.

      Good luck. I for one think you have a fair chance to pull this off.

    • Unique, one-on-one foreclosure training.
    : (0)

  • Posted by Pat on July 01, 2002 at 22:47:48:

    I have a condo in Atlanta a 2 br 2 bath split bedroom, great location all the amenities you could possibly want in a hi-rise condo it is on the 17th floor ... I am behind almost 2 mos in the payments and have it listed for $245K my absolute bottom line ... the property has equity .. I have $70K in over the last year ... $40K down and you can calculate the mtg current payments @ 2184 @ month not including the Association fees at $274 @ month ...

    HELP NEED SOMEONE TO BUY ASAP... : (1)


  • Posted by paula on July 01, 2002 at 22:42:52:

    I cosigned on mobile home two years ago for my daughter and fiance'. They split and neither one wants the home.It is in a park so I can't rent it out.They still owe $52,000. Tried Lease with option, but no luck yet.Does anyone have any other options?Are there any mobile home dealers that would buy it and resale? Any ideas would be greatly appreciated.They are making the payments so far, but figure it is just a matter of time before I get stuck with the debt.Any knowledge on buying lot and setting up on foundation? Any short cuts?I can afford to buy a $30,000 lot but it seems that by the time you move, hookup to utilities, etc you would have so much invested that you would never be able to rent out to cover debt.Anyone with experience in this?I live in Washington state, if that helps. : (0)


  • Posted by Maxwell on July 01, 2002 at 22:08:09:

    I have a quit claim deed that was given to my company by the owner of a property in Florida. The person also quit claimed another deed to someone else a few months later. My deed was recorded on January of 2000 and the other persons deed was recorded prior to my deed on November 1999. Now I am ready to close and the title company will not proceed due to the other person on the deed which I was not aware of. If my deed was prior the second deed, who's deed is valid. Is a deed valid on the date of execution or when it's recorded. I thought that a deed is valid upon executed and delivery not when it recorded. Is there a time frame by law to record a deed? Will delay recording a deed may the deed non-valid? Also, how can I have the other person removed from the deed so that I can sell the property. Are both deeds valid? I need some help.

    Thanks : (3)


    • Posted by njdave on July 02, 2002 at 08:51:54:

      In Reply to: Quit Claim deed fraud in Florida posted by Maxwell on July 01, 2002 at 22:08:09:

      My hunch is that the first recorded deed has priority. Was the deed notarized? : (2)


      • Posted by maxwell on July 02, 2002 at 09:47:37:

        In Reply to: Re: Quit Claim deed fraud in Florida posted by njdave on July 02, 2002 at 08:51:54:

        : My hunch is that the first recorded deed has priority. Was the deed notarized?

        My deed was notorized. His deed was notorized as well.

        : (0)


  • Posted by Al on July 01, 2002 at 19:23:25:

    I would appreciate a answer or some direction on my situation. I'm paying on two houses and three vehicles.One house is rented and we stay in the other and all three vehicles are needed. We built the second house two years ago. 7 months after we moved in my wife had to stop working because of illness. I own two small businesses and I've been able to build up to about $ 6800.00 gross monthly income. But we have been behind for about a year. Our mortgage and vehicles total about $3200.00 per month. We're catching up but we are a onth behind in each payment. Also I owe $1700.00 in property tax on the rental. My mortgage company for that one is giving me until July 12 to pay property tax or they will forclose.I think they are doing this because I never get 60 days behind. We owe $116,000.00 on our primary residence and it's valued at about $175,000.00 to $ 200,000.00. WHAT ARE MY OTIONS HERE. THANKS FOR ANY HELP : (1)


  • Posted by lisa on July 01, 2002 at 13:51:50:

    can you keep your car ( only have had it for 2 months) if we file a chapter 13 to avoid forclosure? : (1)


    • Posted by Chuck Hastings on July 01, 2002 at 15:33:17:

      In Reply to: car posted by lisa on July 01, 2002 at 13:51:50:

      : can you keep your car ( only have had it for 2 months) if we file a chapter 13 to avoid forclosure?

      : Yes you can keep your car! A bankruptcy is the worst thing you can do. 9 out of 10 times the bankrupcy only stops the foreclosure temporarily! The banks attorney will fight to get your mortgage out of the bk and sell your home at auction. I hear this every month from folks. What state do you live in? How far behind our you? Have you tried to do a loan modification with your bank (payment plan)? let me know!

      chuck

      : (0)


  • Posted by jules on July 01, 2002 at 00:31:14:

    my friend is the only name listed on the mortage but her sister is listed on the deed as having a life interest in the estate. at the time she was put on the deed she was living there now she is not. she is married and has her own house which is right next door. my friend has not started the foreclosure procedure yet. all her payments are up to date along with the taxes and insurance. she would like to sell this home as is but would rather foreclose and ruin her credit then let her sister see a dime of her blood, sweat and tears since her sister has rec'd everything else and left her mother literally broke when she died. if anyone has any suggestion as to how she can sell this house without giving a dime to her sister since she wont sign off or how to go about starting foreclosure procedures would be greatly appreciated. she does want to sell this house. she needs to get out from under it. her e-mail address is r15krn@aol.com. thank-you. : (1)


    • Posted by Jim V on July 01, 2002 at 02:33:00:

      In Reply to: foreclosure with sister having life interest in the estate cont'd. posted by jules on July 01, 2002 at 00:31:14:

      Unfortunately, my experience with life estates is very limited but, IMHO, your friend has a bit of a problem.

      A life estate is good for the life of the person is was granted to. So, the sister has an interest that she will not voluntarily relinquish that also cannot be relinquished through legal force.

      As I see it, your friend's only option if they do not want to continue making payments, is to stop making payments and allow a foreclosure proceeding to commence. That will have some pretty significant credit impacts for the next few years and could result in a deficiency judgement, or if there is equity in the property, not provide any net proceeds from the foreclosure auction.

      I'd really look at the actual title issues involved, it's pretty unusual for one sibling to carry mortgage debt with another having a life estate interest. Commonly, life estates are on paid-off or paid-down properties with a close relative living in the property who is of the same generation.

      To restate, I'm no expert on life estates, perhaps someone with more experience there can correct me, or expand on the concept. : (0)

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