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?
27 MarHow does this work if one bank starts a foreclosure then sells to another bank before foreclosure is complete?
I have a mortgage with one bank and could not pay so the bank started foreclosure proceedings. The foreclosure is not completed yet so does the new bank have to start all over and file all over again?
24 MarHow does a home foreclosure process work?
If someone with an A paper loan goes into foreclosure because their home is worth less than half the value of the mortgage therefore bank does not approve short sale, and they lost their job, how does the process work? This would be for CA. And how long does it stay on the credit report and would existing credit card rates go up?
21 MarHow will a foreclosure work with a second mortgage?
Mortgage company put us into foreclosure on the 1st because of being behind in the escrow but there is a second on the house, with the same company. How does that work?
18 MarHow does shorting on a foreclosure work?
Can you explain the process of shorting on a foreclosure? How do the negotiations work with the lien holders? What would be a normal offer for a foreclosure property (as a percent of retail value)? Thanks, first best answer gets my ten points.