Comments for homeforeclosureprocess.net

Comment on Are you in favor of presidant-elect Barack Obama freezing foreclosures to help familys who may lose there home? by Witchy

Witchy — Mon, 13 Feb 2012 06:07:59 +0000

NO What ever happened to personal responsibility?
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Comment on Are you in favor of presidant-elect Barack Obama freezing foreclosures to help familys who may lose there home? by Tasha B

Tasha B — Mon, 13 Feb 2012 05:56:59 +0000

It depends on the situation. If the family is facing foreclosure due to losing their jobs-then yes. If they were one of the idiots who took out a lona they knew they couldn't pay for or afford-then no.
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Comment on I have bad credit and am on single parent pension, how can I buy a house? by skcattley

skcattley — Mon, 13 Feb 2012 05:45:59 +0000

Not going to happen – you need a job to qualify for any loan. HFH is American and not present in Australia
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Comment on Are you in favor of presidant-elect Barack Obama freezing foreclosures to help familys who may lose there home? by miitpr

miitpr — Mon, 13 Feb 2012 05:22:59 +0000

No. But is it to late for me to take out a big mortgage, default, and keep both my house and the money?
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Comment on Could you please give me some advise on buying a foreclosed home? by Stacy

Stacy — Mon, 13 Feb 2012 05:18:59 +0000

I closed on one two weeks ago. To be honest, I was trying to avoid buying a property of this type because of all of the hassles involved. In my case, the bank had never previously sold a property and the sellers agent was not overly intelligent (if the bank said no, she didn’t even try advising them) so my buyer’s agent had to be the solution man and find ways around their objections to make this deal happen.

We bought our house because the structure is solid, it has a number of newer systems, a larger, better appointed kitchen than most houses in the subdivision, and we were able to get it at a low enough price to offset all of the work we have been and will be doing. It does have a number of minor issues. Some are common to the area and we would have accepted in any home. Others are things that we would have asked to be repaired in a normal sale like plumbing leaks. The problems we signed on to fix aren’t hugely expensive, but they will keep us busy until next summer at least.

It’s not an easy process. You’re dealing with a bank that has been burned on this property once, and is trying to salvage its bottom line. On top of that, you’re agreeing to take on a house which can have all manner of issues.
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Comment on Are you in favor of presidant-elect Barack Obama freezing foreclosures to help familys who may lose there home? by edward s

edward s — Mon, 13 Feb 2012 05:07:59 +0000

In the first place neither a President-Elect, or a sitting President alone has the power to freeze foreclosures. They can recommend, and request, but that's the limit of their power. A President by themselves have very little power without consent from the congress and senate. Those people that feel President-Elect Obama will immediately solve all the problems of the country are in for a rude awakening.
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Comment on Could you please give me some advise on buying a foreclosed home? by Mike

Mike — Mon, 13 Feb 2012 05:03:59 +0000

My experience with foreclosures is that they are not a beter deal than any other house that you can buy in the market.

the banks are often unrealistic how low the price really has to be. The banks are looking to minimize their losses.

They made loans on these properties that were more than the properties are worth in most cases.

The banks want you to pay for their mistakes.

The banks and real estate agents market foreclosure properties as good deals but they are not,

I recommend that if you want to buy real estate that you hire an attorney who specializes in real estate law to protect your interests.

An attorney will protect your interests much better than a REALTOR or a real estate agent. The atorney will save you a great deal of money and help you purchase the house at the right price, not the inflated prices of the REALTORS and real estate agents.

Remember REALTORS and real estate agents are merely trained as salespeople. They do not have sufficient training and competence to protect your interests.

Next I recommend that you hire your own real estate appraiser.

When you find a house that you like have your attorney write the offer and direct your attorney to include language that makes the contract contingent on and subject to the fair market value that is reported by your real estate appraiser, not the lender’s real estate appraiser.

Also direct your attorney to include language that makes the contract contingent upon your inspections by at least a termite inspector, proprty inspector and roof inspector.

Also your attorney should make these contingencies removable only by you in writing, not by the mere passage of time.

When your appraiser comes back with a fair market value that is less than the amount of money that you offered you are to give the seller two choices: Either the seller agrees to reduce the price to no more than the fair market value as determined by your appraiser or the seller is to agree to cancel the contract and instruct the title company to return your deposit to you.

There are no good books on buying foreclosures. Most of the books that I have seen on this topic are worthless. they are just designed to make money for the author. They are not designed to help you.

The information that I have given you will accomplish far more for you than any book or website out there if you will follow my instructions exactly.

If you follow my instructions you will get a better house at a better price than you will get from any foreclosure at any bank.
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My experience. Over 40 years investing in real estate.

Comment on My house went into foreclosure in Michigan? by Samantha

Samantha — Mon, 13 Feb 2012 04:59:59 +0000

You are never told who purchased your home.
There is a possibility it sold for more than you owed on it or equal to the balance you had left on it.
You need to contact the court that handled your foreclosure/ attorneys involved. I believe you have up to 6 months in getting out however since the home has been sold, as you stated, I am surprised you have not heard from the new owners.
Were you summoned to court in regards to the foreclosure? Have you not received a summons to vacate the premises is all in question. Just be prepared for that to come.
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Stay on the attorney case about this…you should know what is going on.

Comment on I have bad credit and am on single parent pension, how can I buy a house? by Othniel

Othniel — Mon, 13 Feb 2012 04:57:59 +0000

Contact Habitat for Humanity that I assume has a presence in Australia. You may qualify for one of their projects.
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Comment on Are you in favor of presidant-elect Barack Obama freezing foreclosures to help familys who may lose there home? by Litz

Litz — Mon, 13 Feb 2012 04:50:59 +0000

Not sure yet, I need to know the pros and cons
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