Facing Foreclosure
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Foreclosure
Asked by A.H. from Detroit
on January 4, 2009
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Could anyone who has gone through foreclosure tell me what it was like. Looks like were going to loose our house, despite all we've tried.
I've gotten a few very nas...
Answers
- Well I myself havn't gone through a foreclosure, but I now quite a few people who have and here is what they've told me. you stop making your payments and after 3 mon...
- http://www.expertvillage.com/video/39116_foreclosure-process-what-happens.htm Hi there sorry about your situation but your not alone LOTS of people in michigan are ...
- I am sorry to hear of your situation. I did mortgages and we were able to finance people who had gone through a foreclosure faster when they did a deed in lieu of for...
Foreclosure
Asked by A.G. from Detroit
on February 8, 2009
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Hi Moms! My husband was laid off almost 2 weeks ago. I am currently doing a full time internship and am not receiving any type of income. So essentially, we have no mo...
Answers
- Is the house in both your names? Do you pay PMI?
- Another option is a short sale. Look into that...It isn't as bad on credit and mortgage companies would prefer this route rather than a foreclosure. It is a little h...
- Talk to a realtor about a short sale. I'm going through it right now. I'm going through a divorce and neither one of us can afford to keep the house. We owe $114000...
401K & Foreclosure
Asked by K.M. from Milwaukee
on August 8, 2007
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My husband and I are having a lot of financial struggles... since I started working first shift, and we've begun paying for childcare, we haven't been able to afford o...
Answers
- I'm so sorry for what you are going through. Unfortunately I don't have any good answers for you?! I would suggest talking to a lawyer...but that would cost money to...
- I think that if you took the money out of your 401k for the house then you need to use it for that. If you took it out as a general loan then you can use it however y...
- I guess I'm confused as to why you are working a job that is costing you the possible loss of your home? When my child was born, I had been working a job, but when we ...
Foreclosure Question
Asked by H.H. from Detroit
on June 28, 2007
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My husband and I are considering putting up our home for sale in hopes of buying a foreclosed home in an area where we would stay for a long time. Does anyone know if ...
Answers
- Hello H., I have been looking at homes for the last few months. I have put in an offer on a foreclosed home and it is different than buying a house regularly. The...
- Hi H., I am a real estate broker, and yes foreclosures are a little different than a regular sale becuase of the bank owning the property. If you want to send me a ...
- Hello H. I have just place to ask that question check out this wedsite .. C. http://buildlastingsuccessteam.com/direct.php?id=B###-###-####&password=corn8
Foreclosure
Asked by J.M. from Pittsburgh
on June 29, 2009
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My house is in my grams name and she recently passed. If we let the house forclose, can the mortgage company come after my dad for the money since he is excutive of t...
Answers
- J. , J. , my dear ; never let the bank take property .. Ever, never .never ever ......you will spend a lifetime fix'n your world ...... Fight for the roof over...
- the mortgage is in whose name? why not paying the mortgage off unless no money
- Hi J., First, let me offer you my sympathy on the loss of your grandmother. Second, the role of the executor is to wrap up all of your grandmother's affairs. That...
Short Sale vs Foreclosure
Asked by C.B. from Providence
on July 7, 2009
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I recently requested a short sale to the bank tgaty loan has defaulted. The idea was to attempt to not have a foreclosure on my credit. I just got a form saying that i...
Answers
- Hi C., I am a Realtor in Maine, if you are successful in getting a shortsale offer, yes you are responsible for the difference. If you can not pay it (and usually peop...
- C., I work as a real estate paralegal... and NO you do not have to pay the difference on a short sale. What happens is you place the house on the market and the bank ...
- HI C., Listen to Kelly!!! and here is a website to learn more of what you are about to do... good luck! http://homebuying.about.com/od/shortsale/Short_Sale.htm ...
My Landlord Is Facing Foreclosure
Asked by B.M. from Chicago
on February 25, 2008
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We're renters and our lease has expired. The landlord has told my husband that he hasn't paid rent for 2 months and may be facing foreclosure. I think we should move A...
Answers
- Although foreclosure can sometimes take a while when it does happen the bank or lender will vacate the house any way so you will be left homeless. I would definitely ...
- If your lease has expired, you are on a month to month lease. If the landlord is foreclosed upon, the new owner could keep you there (he may want the income) but he co...
- Yes, you should move. You don't want to be there when the property does foreclose. However, your landlord is not being truthful in some aspect. It takes about 12 ...
Our Landlord Is in foreclosure..need Advice!
Asked by T.J. from Seattle
on June 22, 2009
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So after our landlord first tried to sell our rental house, we received notice that he is in foreclosure! The house will be sold on 9/11/2009 if he does not "catch up"...
Answers
- Hello TJ, stay calm, contact your state office, ask for then research the landlord tenant act in your state. there should be laws on the books that protect landlord...
- I am somewhat new to this state, but my advice it to check the renter's hotline to see legally what can be done. You have rights too. My guess it is an office in Sea...
- You can get free 1/2 hour legal advice from Washington lawyers. Contact the Wa State Bar to find one close to you. They will tell you your options. You can also go to ...
Major Debt Considering Bankruptcy or Foreclosure
Asked by G.M. from Tampa
on September 11, 2007
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When I married my husband he had a TON of debt. My mother and I (best friends) assumed it in our credit cards. We are now in the difficult situation of being 141K in ...
Answers
- Hi. I am an attorney and let me start offf by saying that what I am about to say does not mean that I am your attorney. Sorry, but had a "friend" burn me when I didn...
- Please let me know what you find out. I have been considering bankruptcy for a number of years. Although, I don’t have credit card debt, I have many other negative m...
- My aunt and uncle just went thru bankrupcy, As far as I know it was not too hard. It does cost like 800-900 to get the ball rolling. They were able to keep their hou...
First Time Home Buyer
Asked by M.H. from Chicago
on May 23, 2009
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What's the best options for buying a home for the first time and what are my best options as far as getting a good loan or even no down payment options, It's a foreclo...
Answers
- I am a loan officer - if you want more information and to get pre-approved, send me a message. Basically there are only 2 types of loans that you can get now for no ...
- Do you or your husband have military experience? It's pretty easy to go through the VA for a loan, especially if you are not putting down any or little money. Friend...
- Congrats! First and foremost get a real estate attorney who knows about foreclosures to guide you through the process. We are in the process of buying one and in our...
