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Do I need to have proof of financing to bid at a foreclosure auction?
Wiki User
∙ 14y ago
To bid at a foreclosure auction you will need a $5,000 cashier’s check payable to yourself , a blank personal check , a valid ID (government issued) a pre-approval letter from your lender or prequalification documents from the auction lender.
Wiki User
∙ 14y ago
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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.
If you file chapter 13 and have a foreclosure are you still able to obtain financing for a home?
Absolutely, there are many programs available to assist existing home owners as well as home buyers with financing home loans after bankruptcy and foreclosure. To obtain a home loan while currently in a chapter 13 bankruptcy it is very important to establish a good payment history. The company that will approve you for a home loan will need to have your payment history. They will also contact the trustee of your chapter 13 bankruptcy to receive permission or an ok to proceed with your home loan. To obtain a home loan after chapter 13 bankruptcy you will need to provide the following to your loan officer. Original schedules of your bankruptcy Discharge documents of your bankruptcy Proof that you have a satisfied discharge Proof that you have established new credit To obtain a home loan after a foreclosure. Maintained or established new credit Applying for an FHA Home Loan there is a waiting period of three years after the foreclosure proceedings have been completed. For Conventional Home Loans you will need to wait five years. Frank Thomas Sr. Loan Consultant www.lowermymortgageratestore.com 480-621-4270
If your house was in foreclosure what would be your greatest need?
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
What companies need financing?
All the types of companies needs some form of financing. The financing of the companies will help it in handling the various forms of logistics.
How do you know if your business needs to be licensed and bonded in foreclosure cleanups?
All businesses need a business license for foreclosure cleanups. Generally you do not need to be bonded, but you will need the general liability insurance. Go down to your local city or county offices and apply for a business license, they are usually under $100 to get one. The banks also require this and general liability insurance to perform foreclosure cleanup services for them. There is a Foreclosure Cleanup Business Start up training guide that provides step by step foreclosure cleanup startup information, we got it when we started our Foreclosure Cleanup Business from the website above and was very helpful, it includes the hud guidelines, you will definitely need these to know how to price your foreclosure cleanup jobs accurately and a complete bank contact list of banks and reo asset management companies hiring foreclosure cleanup vendors so you can sign up directly with the banks to start getting foreclosure cleanup jobs. I would also recommend joining the Foreclosure Cleanup Network, there is alot of free information on there for the Foreclosure Cleanup Business and you can get work from the Reo agents on this site. And it's all free. Good luck. Check with a lawyer and the local authorities.
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.
If I have a foreclosure date and notice of courthse. auction, and am not trying to stop the action, what do I need to know about evacuating the premises?
You need to know that as of the date of auction, you are to be out of the home and as of that date, you have no legal rights to the home any longer
What happens if your home does not sale at the foreclosure auction?
at the auction sale of my home the sale was stopped. i did not file bankruptcy. i have two mortgages own by investors need to make a decision to or to move?
Where should one buy home foreclosure equipments?
You will most likely need to go to an auction to purchase any kind of equipment that has been repossessed in a foreclosure. There aren't really any direct sales without having to bid.
What should you bring with you when going to a dealership to purchase a used car?
A Driver's license and proof of Insurance. If you need financing, proof of income and residence may also be needed.
Do you need to bring any special paperwork if you am buying a car from a car auction?
you do not need to bring any special paperwork if you are buying a car from a car auction. the only proof you will need is the paperwork after to buy the car to get insurance and the titles switched in your name.
If you file chapter 13 and have a foreclosure are you still able to obtain financing for a home?
Absolutely, there are many programs available to assist existing home owners as well as home buyers with financing home loans after bankruptcy and foreclosure. To obtain a home loan while currently in a chapter 13 bankruptcy it is very important to establish a good payment history. The company that will approve you for a home loan will need to have your payment history. They will also contact the trustee of your chapter 13 bankruptcy to receive permission or an ok to proceed with your home loan. To obtain a home loan after chapter 13 bankruptcy you will need to provide the following to your loan officer. Original schedules of your bankruptcy Discharge documents of your bankruptcy Proof that you have a satisfied discharge Proof that you have established new credit To obtain a home loan after a foreclosure. Maintained or established new credit Applying for an FHA Home Loan there is a waiting period of three years after the foreclosure proceedings have been completed. For Conventional Home Loans you will need to wait five years. Frank Thomas Sr. Loan Consultant www.lowermymortgageratestore.com 480-621-4270
Can you purchase a car with a expired or suspended license and no insurance?
The dealer is not going to care if you have a license except for identification. You would only need to show proof of insurance if you are financing the vehicle because if they are not financing it, they have no interest in what happens to it once it is off their lot.
Procedural requirements in a foreclosure of mortgage?
Foreclosure procedure is addressed by state statutory laws. You need to search online for "your state + foreclosure procedure".
If your house was in foreclosure what would be your greatest need?
My house is going through foreclosure. My biggest need is money to move and finding a place to rent.
Will I need to pay in cash at a government auction?
Government auctions usually work like other auctions in the way that they take many payment types. You can usually pay by credit card, check, cash or even get financing.
What license do I need for vehicle auction?
How do I get an auto auction licence? So I can buy cars at an auction.
