My relative is in foreclosure. He’s been in contact with the lender and is trying to work out a modification. They ask about income, rental property, all expenses, etc, then determine what type of program you qualify for. What determines which plan? They have said that he may not qualify for any based on his income. Is there a certain calculator they use or a certain percentage?
Archive for the 'Questions & Answers' Category
24 AugWhat the the financial tax differences between a foreclosure and a short sale in California?
What taxes will I have to pay in California if I go into foreclosure? I am wondering if it’s cheaper to do a short sale or a foreclosure.
08 MayHow long after foreclosure before you receive a 1099?
My house was foreclosed on in October 2009 in Maryland. At the foreclosure sell at the court house there were no bids on the house. I received papers from the court ratifying foreclosure in December 2009. The lender listed the property with a real-estate agent in October and sold the house. The new owners closed on the property January 19, 2010. How long after the foreclosure before I receive a 1099?
04 MayHow long will a chapter 7 bankruptcy delay a foreclosure in Colorado?
My townhome is scheduled for foreclosure sale date May 13th 2009.
My chapter 7 bankruptcy will be filed 3/25/09. How long will this delay the foreclosure sale?
01 MayHow can I find out about my home that supposedly went into foreclosure?
I have been unable to locate any documents regaurding a home of mine that supposedly went into foreclosure.I had a realestate person aquire me some documents that stated that the loan was paid off before foreclosure had begun. How can I find out who paid off this loan? And why are there no documents stating that it was in the foreclosure stages. I was told to get out of this home, by someone whome I thought was the bank. I believe that in this situation my ex husband was given this house because of some watts credit thing.
01 MayWhat happens to renters when home goes into foreclosure?
Our landlord has not told us the home we rent is in foreclosure. I found out through notices addressed to him in the mail and through a website listing our home in foreclosure. As it is we pay rent a month in advance and have decided to pay on time instead so that we do not lose a whole months rent if asked to leave. Sorry to say we do not trust our renter because he has not been honest with us. When this home sells, how long will we have to find a new place? Also, shouldn’t the bank be getting our rent money…especially if rent is more than his mortgage? I am really just concerned about what this means for us and options available? Anyone ever been in this situation?
29 AprWhat should a person expect when purchasing a foreclosure home?
How does one deal with a foreclosure? Is the buyer allowed to look inside the house and should one go to bank if interested in buying a foreclosure home.
23 AprWhat is the easiest way to find Foreclosure homes in your area?
So we are in the market for a new home and need to be pointed in the right direction
What is the easiest way to find foreclosure homes around your area?
22 AprHow does buying a house in foreclosure work?
I was on yahoo real estate recently, and I clicked on foreclosure and I arranged the prices of the homes from the cheapest to the most expensive. I found some homes in my area with a price of about three thousand. Now is that a buy in price to take over the mortgage or what? How does that whole thing work? What are the dangers?
21 AprWhat are the credit implications of foreclosure and for how long?
We live in Hawaii and our mortgage has become unmanageable. We just found out our house is worth 64k less than we owe. We have good credit though are overextended because of mortgage. No defaults and one 30 day late pay. We want to sell but do not have the credit left to get a 64k loan to pay off the rest of the loan. We desperately do not want to go into foreclosure. Any options anyone is aware of?