Confused About This Forum?
Is the foreclosure forum for properties already owned by the bank? Once owned by the bank, does the bank always list it with a realtor? Is this true for hud and va, etc. also?
Is the foreclosure forum for properties already owned by the bank? Once owned by the bank, does the bank always list it with a realtor? Is this true for hud and va, etc. also?
I think this forum address questions and scenarios all the way from preforeclosure (lender forecloses but property is still owned by the Borrower), to the point when the property is exposed to foreclosure auction or otherwise taken from the former Borrower, to post foreclosure when the property is either owned by the foreclosing lender, or the successful bidder at a forced, public auction.
The Short Sale Forum deals specifically with the preforeclosure short sale process when a speculative investors seeks to purchase at a discount by formally petitioning the lender to accept less than they are contractually due.
realtorauction,
Glad to meet you.
Sorry you could not post the web sites as it is just a policy until you have so many posts. If you go to my profile and use the email link I should be able to post them for you.
Do you think that members of the NAA should be allowed to vote other than attending the convention?
John $Cash$ Locke
[addsig]
Thank you for the answer to my original question.
One more thing.. What would be a good start for me as a newbie in a area where the foreclosure rate is skyrocketing?n Thansk
What is the list price? Reason I ask is that to only offer 3,500 below list for a house that has been on the market for 140 days seems very low.
Also, what is your market like? Just hard to believe that any thing is below market value if it could not be sold in 140 days.
Back to your question about title seasoning. FHA will not allow a Purchase and Sales contract to be written up in the first three months of a new owner. Many other lender also have some seasoning restrictions or requirements. But many lenders do not have seasoning requirements. In fact, most of the conventional lenders (Washington Mutual, Chase, SunTrust) have no seasoning requirments. It is usually the subprime lenders who might have some seasoning requirments - think 100% financing.