I'd like to buy a foreclosed house in my neighborhood, what loan products are available? related questions

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I'd like to buy a foreclosed house in my neighborhood, what loan products are available?2sha'kira2012-08-15 14:48:03
I bought my first house in August this year and I have 2 roommates help me with the cost. What to do about $ 7000 gross per month in my full time job and about $ 1050 per month for my 2 roommates. My credit score is 789 and I have no other debt on my mortgage . I would buy another house in my neighborhood and rent it out , but do not have much cash for another payment.
If the property is sold for less than it should be , do I have to pay the remaining balance in cash
Buying a foreclosed house?0Zoey2012-11-05 05:53:02
A little history first. My husband and I bought our first house , we found a foreclosure that we thought was an amazing deal . It is 3,600 square feet , 6 bedrooms , 3 bathrooms, 2 bonus rooms open . For only 151k , ended up in a bidding war with some other people and our last offer was accepted by 165k . Since it's a foreclosure sale "as is " , but we have a clause that allows us to go backwards if the inspection turns bad . We had our inspection last week, and had a couple of minor things that need to be addressed immediately, the inspector said it would cost around 10k to fix. Yesterday we were told that the bank needed to fix things first and not going to buy the house , guess worth a try , we are paying 14k more than they originally asked . MedlinePlus MedlinePlus My question is , if you do not accept the counter offer ....... we can only say that as if to pay 151k but still get the loan for 165k and have 14k cash back to us to make repairs ? Be that correspond to the bank to accept the lowest bid , but may have our mortgage lender to write that? We have not 10k out there to make repairs , but we really want the house . Any help or suggestions would be appreciated . Thanks in advance !
Why do people get mad when their house gets foreclosed?0 Attitude can not replicate ▃ ▁2012-10-07 05:43:25
not the fault of the banks can not pay your bills. How would you feel if someone lend you money and they can not pay ? People have to plan or pay cash and not borrow
My house had been foreclosed. Do I need to file for bankruptcy?2cleo2012-10-27 08:36:02
I have no other debt , I paid off all my credit cards and my car . I did secure a new home before walking away from my house , but I 'm just worried that they will go after me after the foreclosure process . I owe HOA fees taxes , property and default on the old loan only. I live in MedlinePlus California and I just need to know if you need to file bankruptcy . I also worry that they can decorate my salary, how can banks do that ?
The house we are renting is has been foreclosed and is going to be auctioned on Oct. 15th. What happens now?2wruth2012-08-20 18:59:02
We are renting a house and recently began to receive brochures by mail generic about loan modification and foreclosure prevention . Just at the same time, our landlord stopped responding to emails and phone calls. So look for the property line and learned that it is in foreclosure and sold at auction on 15 October. I just want to know what my family must also prepare to leave. Our owner owes us $ 1100 for the deposit and we wonder if it is legal to stop sending her our monthly income to start saving for a move . We were thinking of putting some things in storage in case we have to leave quickly , but no one to go before October 15 ? We live in Arizona. Thanks in advance for any information on the foreclosure process from the perspective of tenants.
Is it cheaper and better to buy a foreclosed house then to rent an apartment.?1alaraf2012-10-21 09:16:03
I'm entering some money with my boyfriend maybe not , illegally , won a case of getting the support money from when I was 12-18 for you. MedlinePlus MedlinePlus but in our area , apartments cost about 500-800 for a two bedroom one bath 500 square meters MedlinePlus MedlinePlus foreclosed homes in the same area with lake accuses leaves 10000-24000 MedlinePlus MedlinePlus I know that in any case we will have to pay for utilities and such, have a friend help us fix , and does not need a loan at all or anything we can pay cash for it , MedlinePlus MedlinePlus would be smarter to get the house ? they are all ranches with 3 bedrooms and 2 bathrooms , with approximately 1,200 square -2300 meters . MedlinePlus MedlinePlus I have taken some classes of money and finance. this will also be the first time that we have a place , so we know a bit to get a discount , and for the purchase of a foreclosure . MedlinePlus MedlinePlus but because it is smarter . Also my boyfriend is off and going to get surgery to get their knees replaced so it does not turn off and I'm getting a job soon to go to college , which is the office work that pays 10-15 per hour .
Do you really think that poor people with bad credit benefited by having their house loans foreclosed?1Study Nut2012-10-25 20:27:02
Wake up America , Clinton did a pretty good job of welfare reform , the poor are mostly just that, poor thing! Think of a poor single mother who works 60 hours a week to keep their children in an apartment with some food . Why people love to slam dunk town like this , does it make you feel superior. What happened to the American heartland , why are so vile opinion now ? People who benefited from bad mortgage loans were not the poor , were the financial institutions and their executives pressured people like John McCain and Phil Gramm to deregulate the real estate industry , so they could make money by repackaging and trading risky financial role . Then , when his house of cards fell , got up with poor benefits and homeless. Remember , there are two sides to every story , yes people widespread itself , but were given the opportunity to do so , and I blame people like John McCain on this side of the problem.
What happens with home equity loans and lines of credit after your house is foreclosed on?0denny2012-09-22 12:13:02
My house was auctioned on August 2, 2010 . But I have a line of credit that I still have , but now is not safe because the house has been repossessed . I can file bankruptcy ? In that department ?
I received a 1099-A form for a house we foreclosed on in CA. How is this going to affect my tax return?1e.c2012-09-11 06:27:05
I received this email the other day and I do not know what it means. The outstanding prinicipal ( Box2 ) says $ 407,778.33 and the fair market value ( box4 ) says $ 324,160.00 . In Table 5, it is said that I was responsible for the repayment of debt. Some people say I have to pay taxes on the difference and some say no because I do not own anything and why not doing enough ( about $ 25,000 this year ) . Then I read somewhere you should not report it on my taxes because I could get a 1099- C after. I basically do not know what to do with this. Do I have to report now or should I wait ? How will it affect my taxes ? Will I get back more or less ? Does anyone know of an informational tax preparers and affordable in Southern California? Any help will be appreciated :) MedlinePlus MedlinePlus PS Some may wonder what I was thinking to get a house loan in my name , and not being married and not make much money . Well , I did it for my parents , I could not get a loan and had nowhere to live . Basically , I lived in two different hotels for a month and I was the last resort. I had to do what I had to do for my fam .
Which Boston neighborhood is the best for us?2Labiba2012-11-02 12:08:03
My boyfriend and I will probably do a combination of 60k a year that began in Boston . We have family there, but we are not interested in living at home . We are thinking of getting one for a bedroom or ( worst case ) a huge studio with separate kitchen . If you have had this type of income ( and no credit debt , student loans rather small ) , that neighborhood who moves to Boston ? We have a car , but probably ditch for public transport .
Should my husband and I buy a $101,000 tiny home (in a very nice neighborhood)?0Lawrence J. Diggs2012-10-12 11:27:09
Rented and hatred . There is a very small house for sale near both of our workplaces and is only $ 101K . It has 3 bedrooms and 1 bathroom and a 2 car garage . No basement (we live in Illinois so those are beautiful ) , but we have lived without . Currently pays $ 850 a month for rent on a house that is mediocre, but bigger than the house . We both have substantial student debt and car , however , who desperately wants to make the rent. We have excellent credit scores and may be approved for a decent loan . No down payment though. We speak to a counselor who said it would be about $ 650 per month ( with added property taxes in ) mortgage payment . Is it worth it ? ? ?

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