Buying REOs
I would like to buy a house with cash so that I have a leg up on other bidders, but then get a mortgage on it after the fact. Would I be able to get a mortgage with 80% financing (i.e. I would borrow 80% of the original amount that I bid)?
We were in the process of doing a loan modification and when we called to check the status we were told it was foreclosed an sold on jan 3, 2012. We have the money and can afford our home, if it was bought back by Saxon (which is the company we have our mortgage with) is it possible to get our house back? I have tried calling Saxon and their attorneys several times but no one Can tell me anything. We are in Texas so we don't have a redemtion law. Please, please, please help!!!!!!!
The TS # makes it easier to search FR.
Hi everyone, I want to buy a condo in a specific area and every time I attend an auction they keep getting postphoned. I don't have time to go to all the auctions. so is there a company I can hire to bid/buy it for me? I heard somewhere that there are companies that send their reps to bid.
Thank you
The Nikols Company focuses on providing credit lines to foreclosure flippers at up to 75% of your purchase price with rates starting from 8.75%. Call Carrie Nikols at 949-474-8666 to learn more.
My wife and I owe $870,000 on a home worth an est. $650,000 minus the est. $200,000 in repairs and upgrades to make it salable. If the actual value is closer to $450,000, at what price would an investor need to buy the property at in order to flip it and make a profit, assuming that he makes the required repairs and upgrades? Doesn't an investor assume a great deal of risk when buying at a trustee's auction? Also, at what point does the bank, once it takes back the property, recognize the disparity between what was owed on the note and what it can realistically be sold for to a third party?Read more
Hi, I would like to know how to purchase properties that have been foreclosed by the lender but not on the market.
I have notice that many properties go to auction and goes back to the lender because there were no bidders.
Please let me know the procedure to find out how to purchase properties directly from the lender that has not been on the market yet.
Thank you.
On 9/30/2011 the conforming loan limit will decrease in every county in CA. At an awards ceremony for Realty World in May 2011 Sean O'Toole the Founder of ForeclosureRadar said "The primary risk to home values in CA is the further tightening of lending standards NOT foreclosures". Based on that statement lowering the conforming loan limit is a step in the wrong direction. Some counties are in worse shape than others. What do you think?
County
Alameda $625,500
Contra Costa $625,500
Los Angeles $625,500
Marin $546,250
Monterey $625,500
Orange $625,500
Placer $625,500Read more
I did a search in my area and it keeps coming up with just one property. Does that mean only one foreclosure has been bought? I have a feeling I'm not doing the advanced search right.
We were under contract with a bank on a foreclosed property. We have completed the necessary inspections, secured financing and were completing the last items (appraisal and survey) and were planning for a closing date within the next 2 weeks. Today, we received a call from our Realtor that the Sellers Realtor had called and said the Bank was taking the house off the market because it was inproperly foreclosed. Neither our realtor nor the sellers agent has ever heard anything like that. What is the reason for this and what remedies do we have other than receiving our earnest money back.Read more