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What else can I help you with?
What is the importance of a foreclosure of a house?
Houses go into foreclosure when the owner can no longer afford to make the house payments. Many people look to purchase foreclosure homes as they can often be purchased for a low price.
Can I purchase another house if my house was discharge in chapter 7 but is not in foreclosure I'm still making my payments and living on it?
If your chapter 7 has been closed, yes - if you can find a lender for another mortgage. Your credit scores will have lowered because of the filing and discharge.
How can I purchase a home that is in foreclosure?
Purchasing a home in foreclosure is easy. Contact the agent that has the property listed for the bank, submit and offer, have an inspection and close on the house if your offer is approved.
If you have had a foreclosure can you purchase other property later?
Yes you can purchase property. The problem is finding another lender willing to give you a loan that is affordable.
If foreclosure homes are sold at auction how are realtors selling foreclosure homes - Do they purchase the homes themselves or are they attempting to sell before the auction - How does this work?
the owner who is in foreclosure is attempting to sell the house before the foreclosure goes through. this is completely legal. if they want to sell the house for less than the amount that is owed to to the holder of the mortgage they will need to get the mortgage holders agreement.
What can be done after a foreclosure sale?
you could buy another house or sue the people and ask why are they doing this
Can you put a house for sale in foreclosure?
You can put a house up for sale in foreclosure, but the foreclosure process could happen before the house sells. It doesn't make any sense, if you would like to sell the house, do so before foreclosure.
Can you buy another house with cash if your old house was in foreclosure?
Yes, you can still buy another house with cash even if your old house was in foreclosure. Foreclosure does not prevent you from purchasing property outright with cash, as long as you have the funds available. However, it may impact your credit score and could make it more challenging to obtain a mortgage in the future if you choose to finance a home. Always consider consulting a financial advisor for personalized advice.
Do you get the best deal by buying a house at a foreclosure auction?
Yes, you get the best deal by buying a house at a foreclosure auction. You can read more at www.realtytrac.com/foreclosure/Auction/how-to-buy-homes-at-auction.html
Can you purchase a house jointly with another person?
Yes, you can purchase a house jointly with another person. This means both parties share ownership and responsibility for the property.
Can you buy another house and let the one you are in go through foreclosure?
Yes. Note that your credit score would be adversely affected.
Is it possible to purchase a different house with a foreclosure on your credit report?
It is possible, cash purchase, or substantial change in your ability to pay which would make the bank think you are a good credit risk. This could be in the amount of time since your foreclosure and maybe you have proved through repayment of another loan that things have changed since the foreclosure. Amount of time since foreclosure, repayment history, amount of credit, amount of debt are all items considered in your credit report which then gives you a score and the bank or mortgage company uses this to determine what kind of loan (rate and terms) you will get if any. All of this being said it is NOT easy especially in today's market.
