I am interested in getting a repo house and have been looking at a lot of them my question is do you have the pay the remaining amount due on a repo house upfront or do you get signed up for finance? is there a way that I can get a loan so i can make monthly payments instead of having to get the whole amount due up front?
I am planning on buying a bank repo house. Do I need a real estate agent or can I just go to the bank and buy the repo house through them?
If I buy the house directly from the bank, will I save on commissions because Im dealing directly with the bank or there is not such a thing?
i have just recently purchased a HuD house & it needs alot of work from Tile to flooring to just about everything, where do you suggest i go to look to get awesome deals? i am into French country any suggestions on like salvages etc. perferrably to get online. thanks all
Can repo people call you at 2am on your house and cell phone?
We are putting an offer on a bank repo house tomorrow, if they accept our offer, how long does it take to close and have the keys in our hands? I know we had to have proof of funds to go along with the offer.
I had a mobile home repo’d in 2001. I was never contacted by the company for the difference after the sale at auction. So I never worried about it. I’ve since found out the dept was sold to a collection agency after the auction. Again, no attempts to collect for 5 years. Now I get a letter saying pay in full or legal action will be taken. How does the statue of limitations work with this? Does the statue start at the time of the default on the loan, or at the time of the sale of the dept to the new company? The original creditor is not reporting to the credit bureaus, but the collection agency is? I live in Illinois, and the statue is different for contracts vs. collections? Does the signed contract for the mobile home purchase still stand, even though it’s with an entirely differnt company now?
I work for a small business that is in serious financial trouble. The owner has just about all the assets in his name and the company’s name. It is a corporation… if that makes any difference, I want to know as we deal with the issues, what if any, our options are. The owner owns his home and our office building. He is going to have to stop paying on one, if not both. What do we face when that happens? How long does foreclosure take? The owner also has 2 vehicles that he has financed. He doesn’t need both and wants to turn one in, or have it repossessed. How long does that take and what kind of damage will he do to his credit report? Should he file for bankruptcy? He still wants to have the same general contracting business. He wants to do whatever he can to keep the company open. Ideas, suggestions, info very appreciated.
She can’t afford it anymore, I have a car for her to use so she will not be without transportation. HOWEVER, she wants to continue driving her car as long as possible. Her car is not registered to her address (she moved out of state since she purchased it) and all of her corrospondance goes back to her old address (her sister’s house). Her lienholder literally has no clue where she is. This ticks me off. I told her to just turn the thing in, as they will find her soon enough and it looks better. Her response is to make them work for it. Honestly, how long can she drag this crap out? Can it effect her sister (she uses her sisters house as a home address) in any way? This girl just makes me SO MAD!!! I tried telling my brother that her antics will effect hem ever being able to buy a home, and that employers often run credit reports on job applicants!!! How long can she keep this up??!!
I was deployed to Iraq for one year, Ive only been home for a little over a month. My wife has been taking care of the bills for me and paying the car note, Apparently she got behind, but I didn’t have any idea of this until the repo man was at my door with the paper work and already had the vehicle hooked up. Ive called the bank a couple of times to see if I could work with them on getting the vehicle back. I told them I would pay the storage fees, the amount the payment was behind ($896), plus 2 months in advance… they didn’t want to hear that. All the bank wants is the remaining portion left on the car in full ($15,000). I don’t have that kind of money and neither does my wife. Ive been calling the bank’s reinstatement department and politely pleading with them, trying to explain to them and what I am willing to do. I live in Ohio. If they auction the vehicle off after NOT receiving the $15,000 from me, they want me to pay the balance left after auctioning… which I know isn’t going to be good either. My credit is ripped to pieces after this.. Im sure of this… am I just screwed?
I had a car repossed 2 years ago. I have recieved letters from debt collectors, they amount they say I owe after they sold it was 7000.00. I cant come up with that kind of money. Today I recieved a letter from an Attorney in the practice of debt collection, the letter said my account has been referred to there firm for collection. My question is how far can they take this ?? I live in North Carolina and I do know the only way wage granishment is legal is for back taxes, and child support. I am a stay at home mom and my husband works, and we just dont have enough extra income to pay theh 7000.
