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Archive for the ‘foreclosed homes’ Category

I want to find a list of foreclosed homes in my region for free.

The foreclosure sites are notoriously inaccurate, do not waste your money. I have a client that subscribes to one, she routinely wants to look at houses that are not even bank owned yet, or they have not been updated and have long ago been sold.

MORTGAGE LATES ON YOUR CREDIT REPORT

So many of you are facing the reality of being late on your mortgage payment and how it has affected your credit scores. I personally know of folks that had pristine (700) beacon scores, but when there adjustable rate mortgage increased, they could not afford the increased payment.

Being good people, they struggled and went without. I have a couple that earns over $6,000 a month. And, yet at the end of the month, they don’t have enough extra money to even go to the movies. They don’t live beyond their means. Granted, they were the same people, like so many others that re-financed their homes when the value of the home increased. WOW, they were real estate geniuses.

Yep, they went out and bought new toys for themselves and paid down their credit cards and even put a couple of bucks under the mattress for a rainy day. But, those were the good old days. When, that house payment increased by $750.00 a month, pretty soon that money under the mattress was used up to “keep up”.

Once the money that they had saved was gone, they started to “scrimp and save” on other items. Soon, they had to be late on credit card payments because they were living from “paycheck to paycheck” just like many poor folks had been living for so many years. Welcome to the world or reality. With those late credit card payments, the “vultures from Wall St stared circling”. You know the “drum roll”. If one credit card payment is late, the other credit card companies pick up the scent and when you’re normal credit card interest was at 7% it now zooms up to 32% on ALL of your credit cards.

So, think about that for a minute. Let’s say that you had credit card debt of $25,000 which is not uncommon. Your ability to stay even was predicated on the lower interest rate. Your interest payments alone were $145.84 a month. So, as long as you were making just the minimum payment it wasn’t too bad. But, look now once you became late on ONE credit card. The monthly interest payment now shot up to $666.67 ! ! ! That,  Charley is an increase in monthly minimums of $520.83.

If a stranger came to your door once a month and held his hand out for you to give him $520.83 cents for NOTHING, would you do it? HELL NO. But, the Wall St. goons have figured out how to get that extra dough from you without a gun or even showing up. Yep, their computer geeks kept spying on your financial activity with other credit card companies and once you were late, ZINGO, they put the ZAPPERS to you.

So, let’s play this out. You are now in the high interest bracket on your short term debt. What a financial mortal wound for a good family just trying to stay afloat. You might have been one of those couples that couldn’t understand why people cannot pay their bills. I’ll bet you even said “that won’t happen to us”. We have good jobs and we have always had pristine credit. Now, you have to ride the commuter of reality and face facts. You are now one of those families that you thought you would never become. The shame of having to talk about it much less have your relatives and friends find out about it. How could you drive that “beamer” to work and know that you cannot pay your bills?

Here is where the “grim reaper” of the credit world lowers the boom. You cannot make your mortgage payments and now you have a couple of late payments on your credit report. Your scores are in the tank. Now, foreclosure hits you and all of a sudden, you are in self denial.

Lets get back to the reason for this article. IF, you are foreclosed on and you DON”T defend your foreclosure, you are really mortally wounded credit wise. BUT, if you do defend your foreclosure and the lender is told by the courts to come up with the original note and they cannot, the case gets dismissed. Now you have a legal paper from the court that says, “the plaintiff (the lender) is NOT THE OWNER OF THE NOTE, therefore they have no interest in the note.

This is where it gets tricky. If, they had not interest in the note, then how can they report any late payments to the credit bureaus? Think about it for a minute. If, they were allowed to report your payment history and they didn’t have any interest in the obligation, it would be like allowing a complete stranger to post something bad about you simply because they wanted to.

No one even thought about this angle. Maybe somewhere there is a clever attorney that did, but so far, I haven’t found anyone. So, now you see the difference between defending yourself or just giving up.

Regis Sauger  

Regis Sauger
http://www.articlesbase.com/credit-articles/mortgage-lates-on-your-credit-report-700156.html

Obtaining real estate short sale negotiation assistance from a professional consultant can save you a lot of stress and earn you loads of money. There are hundreds of thousands of homes currently in the United States that have been foreclosed on, and this can mean a huge opportunity for investors to acquire properties for massive savings. The downturned real estate market is a wide open playground for savvy investors, especially those who have some time to wait until the markets stabilize again.

The short sale process can be daunting and complicated for those who are not familiar with it. A short sale is quite simply when the lender of a mortgage loan agrees to provide a discount on the balance due. The short sale negotiation process is carried out with the loss mitigation department of the lender. The homeowner sells the property for less than the balance due on the loan and turns over all proceeds to the lender. In almost every case, this is not a full settlement between the homeowner and the lender. Almost always, there still exist a balance of deficiency owed to the lender from the homeowner. The lender is responsible for the final decision as to whether to allow the short sale or not and there are no regulatory agencies that govern these types of transactions.

For that reason, skillful negotiation tactics are necessary. From both the standpoint of the homeowner and the buyer, it is highly-advantageous to illicit the assistance of a professional short sale negotiator. Short sales generally occur as an alternative to foreclosure. Foreclosure rates are at an alarming all-time high currently and state governments and lenders alike are scrambling to find ways to lower them. In essence, the lender will allow a short sale if it believes that it will take less of a loss by allowing the short sale than it will to enter foreclosure proceedings and auction the property. In fact, most short sales occur only after the Notice of Default has been filed by the lender.

Advantages of a short sale for the homeowner include:

A lessened negative impact on their credit score than a foreclosure would yield;

Maintaining partial control of deficient finances;

Time savings as compared to foreclosure;

The fact that a short sale is a type of settlement as compared to a seizure of the property;

Lessened embarrassment in the form of newspaper ads and postings of legal notices;

Negotiating a real estate short sale should be handled by a professional to ensure that the homeowner and/or buyer are represented fairly and presented with all of their rights throughout the process. Lending organizations are struggling at present and it is not their intention to offer anything more than they absolutely have to. If you are unfamiliar with the short sale process, as most homeowners are, then you will benefit greatly from obtaining short sale negotiation assistance from a seasoned professional.

To learn more about how short sale negotiations are handled, please visit us at Stop Foreclosure Help Today.

Igor Mosyak
http://www.articlesbase.com/real-estate-articles/short-sale-negotiation-assistanceunderstanding-the-short-sale-procedure-for-real-estate-677018.html

I signed up for a "trial" for $1.99 through consumerresourcenetwork.com and received a wonderful and promising listing of foreclosed homes in San Antonio, Texas. When I attempted to call the real estate agents listed for each property, they were already sold a long time ago. I’m trying to find a listing of foreclosed homes in my area for free with no strings attached. ANY information will be greatly appreciated. Only mature and genuine responses please. Thank you.

Any of those agents you called would be happy to provide you with a daily list for no charge at all.

Whats the best website for finding CHEAP foreclosed homes. I think I may start looking into flippling some houses with all these forclosures going on.

There are quite a few sites out there. If your looking for frequent updates this site is pretty good though.

This website has a trail period so you can see if its right for you before making any purchases. I like it though I’ve found homes as low as 15k. I’m mostly into Tax foreclosures and this serves as a pretty good reference. Even if the evicted tennant ends up buying the house back from me I still usually end up making a 20% profit on a six month investment http://tinyurl.com/homeforclosureupdates

I recently discovered about the foreclosed homes for sale and i was really surprised to see the prices of them. It was between 100,000$-150,000$, which are not so bad at all for those houses. So i was wondering why are many Americans ( i am from europe) losing their houses and cant buy those affordable ones? OR there are many dangerous scans with foreclosed homes? Is it safe to buy a house based upon online websites of foreclosed homes? ( of course, we would talk and meet with those people in person)

Thanks for the opinion!

I know that a lot of non-Americans think that Americans just have piles of cash laying around to do with what they please, but this is very very far from the truth.

To be able to buy a $100,000 house, the person must have good credit and income of at least $30,000 a year, and have decent debt. When the national unemployment rate 10.2% and many of those who are employed make very little money, it’s impossible for many people to get a mortgage.

Folks haven’t saved their money, haven’t cared for their credit, and have kids too early and without being stable. It’s impossible to get a loan to buy that home when this is the case.

http://real-estate-investing-club.com The market is swamped with foreclosed homes. Wouldn’t it be nice to invest in homes before they even make it to the foreclosure market? This video shows you how.

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http://real-estate-investing-club.com Knowing why you want to buy foreclosed homes is the first part of the process in profiting in foreclosures. Learn the 3 pieces of the profit equation.

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Technorati Tags: buying, estate, Foreclosed, Foreclosure, Homes, investing, pre-foreclosure, real

http://www.FreeForeclosureDatabase.com Looking for the best free foreclosure listings? Find HUD, Government, and foreclosures bank owned. Searches are all free, all the time. No membership required.

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Sacramento-Yolo Mosquito and Vector Control District is getting about 200 calls a day to check on standing water at foreclosed homes.

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Technorati Tags: Adds, Control, Crisis, District, Foreclosure, home, House, KCRA, Mosquito, Problem, Sacramento, Vector, Water, Yolo