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Foreclosures
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Foreclosures
With all the problems in the housing industry and all the foreclosures going on right now I've been thinking buying my home through a foreclosure or for back taxes. Does anyone have experience with this? What is the best way to start out? I'd rather not have to pay for a service if there is a way to find out the same information for free.
Thanks in advance!Tags: None -
Re: Foreclosures
Here in Sacramento a loan agency is taking people around on bus tours to look at home foreclosures -
Re: Foreclosures
Almost all foreclosures are required to be public information. They are usually published in some sort of legal newspaper in your county. Alot of time they are posted online too. I thought about buying a foreclosure property and flipping it. But the housing market is so terrible right now I'll have to wait if I ever decide to do it.Comment
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Re: Foreclosures
With all the problems in the housing industry and all the foreclosures going on right now I've been thinking buying my home through a foreclosure or for back taxes. Does anyone have experience with this? What is the best way to start out? I'd rather not have to pay for a service if there is a way to find out the same information for free.
Thanks in advance!NFL: Tennessee Titans
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Re: Foreclosures
I know this is old but I'm in the Short Sale process...on the selling side. I bought for around 250k a few years ago...it's worth $110k now. When I moved states I decided to try the SS route to avoid a foreclosure.
It was going well with BofA. I got an offer, filled out all the correct paperwork, and faxed it all in last week. I was excited and hopeful.
So what do I find out today...that BofA sold my 2nd mortgage to CCO Mortage (who I've never heard of) within the past week. Now everything is ruined. Even if I do SS, BofA will keep all the money and CCO will get screwed and not forgive the debt...and therefore come after me.
Basically I'm convinced BofA did it on purpose. They knew I was in the process and sold the loan to CCO b/c I've never missed a payment and lumped it in with a bunch of other "solid" investments. CCO just bought a bad investment and in the end my attempt to salvage what I could from my near perfect credit rating has been for naught.- The true measure of a man is how he treats someone who can do him absolutely no good.Comment
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Re: Foreclosures
Just brought a short sale. Took about 3 months to come through. I did look at a few foreclosures main problem with those is that a lot of them are in bad condition.
What happens is once people know their house is going into foreclosure they stop taking care of the house.
The short sale I just bought had people living in it up til about 2 weeks before the sale. And the sale was contengient on the house being in the same condition as it was when I walked through it orginally.Texas A&M Aggies
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Re: Foreclosures
And they tended to fall in two categories, people who stopped taking care of the house because they had no money to do so and those who flat out tried to destroy the house internally. It was just sad the destructive things folks did to their house in anger/grief. Thankfully, he avoided most of those but some were still too good to pass up so I caught a few.Comment
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