Foreclosures
Foreclosure Taxes
We usually think of foreclosures as the end product of not paying a mortgage. But in a somewhat weird way it’s also possible to be foreclosed for other reasons.
For instance, in many communities the water company is actually a governmental agency. Don’t pay your water bill and there can be a lien against the property, [...]
What Kind of Foreclosure Title Can I Expect?
With huge numbers of foreclosed properties now available for sale you have to wonder what type of title you might expect if you purchase one of these distressed homes.
The lender selling REOs (real estate owned by a bank or other lender) does actually care how you own title, What it does care about is that [...]
What are foreclosure brokers?
It used to be that foreclosures were rare events. About .5 percent of all home loans were foreclosed in a year, a figure which reached 4.58 percent in the fourth quarter of 2009 according to the Mortgage Bankers Association.
The huge foreclosure surge has not happened everywhere — some areas have seen vastly more foreclosures than [...]
Is Walking Away Right With A Commercial Mortgage?
What happens if you borrow billions of dollars to buy real estate and then get foreclosed?
It’s just a guess, but I bet you don’t get harassing phone calls or threats that your stuff will be on the street by Tuesday. Instead, you get a foreclosure notice such as the one below.
How did this happen?
In [...]
Now Available: The Quick & Dirty Guide To Successful Mortgage Modifications
A number of people have asked if some of the mortgage modification material on this site could be combined with new information and made available as an eBook in various formats.
The answer is now yes.
The guide below is available in various eBook formats and the price is less than $3.00.
Oh, about the calculator on [...]
What’s A Typical Foreclosure Fee?
When a lender seeks to foreclose a number of fees can arise. There will be, for example, a foreclosure fee paid to an attorney. If the property is auctioned off then the local sheriff or court will want a fee. There are typically an assortment of fees to be paid just to get the matter [...]
17Feb2010 | Peter G. Miller | 0 comments | Continued
How Can I Buy A Bank Owned Property Foreclosure?
It should be a simple task to buy a bank-owned foreclosure, but innumerable purchasers report long waits, lots of paperwork and unsatisfactory dealings with lenders. Why this should be is unclear because buyers want to buy and lenders do not want to be in the real estate ownership business.
The first issue is finding a bank [...]
What Makes A Foreclosure Settlement Different?
When you purchase a foreclosed property from a lender the transfer process is largely the same as if the purchase involved property from a typical seller. Largely the same — but not the same.
A closing, settlement or escrow is merely an accounting of who owes what to whom. Among the interests represented at the closing [...]
Is Foreclosure Flipping Legal & Legit?
If by foreclosure flipping we mean quickly buying and re-selling a foreclosed property bought from a lender then there’s no reason why such a transaction cannot be legal and legit.
Think about stock. You buy stock in the morning and sell it in the evening. You flipped the stock. Does anyone care? No.
Think about a foreclosed [...]
What Is The BPO Foreclosure Connection?
When lenders take back a property through the foreclosure process they want two things: They want to know how much it’s worth and they want to know as cheaply as possible.
One way to determine value would be to get an appraisal of the property. Appraisals are independent estimates of value developed by licensed appraisers, valuations [...]
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