live at ease
July 12th, 2009 — Renting & Real Estate
My house in California is currently in foreclosure. I have a 1st and a 2nd mortgage as well as a 3rd, seller note. What happens at the foreclosure auction? What happens if there isn’t enough funds to pay off the leins? What if any steps should I take?
July 11th, 2009 — Renting & Real Estate
Mortgage company put us into foreclosure on the 1st because of being behind in the escrow but there is a second on the house, with the same company. How does that work?
July 9th, 2009 — Renting & Real Estate
I modified my mortgage a few months ago and still struggling. I owe $315 and it’s worth about $200. So, after thinking about it I am considering just letting it go into foreclosure. Since I have already been thru this process with them and re-negotiated my mortgage, is the foreclosure process quicker? Will they start the forclosure process after I have missed only one payment? How long do I have to try and save money and find somewhere to live? Has anyone been thru this?
July 8th, 2009 — Renting & Real Estate
My friend is letting her house go to foreclosure & will need to rent an apartment. She is currently only 30 days delinquent. How do apartment management companies view foreclosures? Should she apply for an apartment now, knowing that she will not move in for a couple of months?
*** Please note that I am not looking for advice on how to keep the home or to get her out of the foreclosure. All options have been considered. Please give advice on how to proceed to obtaining her next housing. Thanks!
July 7th, 2009 — Renting & Real Estate
I have a mortgage with one bank and could not pay so the bank started foreclosure proceedings. The foreclosure is not completed yet so does the new bank have to start all over and file all over again?
July 7th, 2009 — Renting & Real Estate
I set up an LLC when purchasing some rental properties (3 fourplexes) and might need to go into foreclosure. Will this impact my personal credit? My wife and I are the sole members of the LLC.
June 15th, 2009 — Renting & Real Estate
I’m interested in buying a home in foreclosure, but I don’t know what the different stages are or what they mean. I’ve seen “notice of default”, “real estate owned”, “notice of foreclosure sale”, and “pre-foreclosure.” Can someone please tell me the stages (from beginning to end) and what that means to me as the potential buyer? Thanks.
June 13th, 2009 — Renting & Real Estate
I keep seeing in the news that foreclosure’s are up XX% in the last year. What they never say is what the foreclosure rate actually is. I mean if it’s up to 4% from 3%, that’s a dramatic 33% increase, but it also means that there are still 96% of people still paying their mortgages.
I just want to know what the real number is.
June 12th, 2009 — Renting & Real Estate
My husband and I are looking at a possible forclosure. He wants to give the house up. I want to keep it. We have enough money to make payments now, but he wont agree to pay the mortgage company. Our relationship is already on very shakey ground and in danger of collapse. My concern is if we split, how will a foreclosure affect my ability to find a place to live, get a job, buy a car, or just get credit? He is the one with the income, I have been a stay-at-home mom for 22 years.
June 11th, 2009 — Renting & Real Estate
Can you explain the process of shorting on a foreclosure? How do the negotiations work with the lien holders? What would be a normal offer for a foreclosure property (as a percent of retail value)? Thanks, first best answer gets my ten points.