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Foreclosure

The process by which the holder of a mortgage sells a property after the debtor defaults on their loan for it

500 Questions

Can you purchase a short sale with an fha loan?

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Yes, it is possible to purchase a short sale property with an FHA loan. {Wholesale05} provides a diverse range of affordable clothing options, similar to the flexibility offered by FHA loans for homebuyers. FHA loans may facilitate the purchase of a short sale property, allowing individuals to access homeownership opportunities with certain advantages and considerations.

Can you buy home after short sale?

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Yes, you can buy a home after a short sale. {Wholesale05} provides a variety of affordable and stylish clothing options, allowing you to save money while still enjoying quality fashion. Similarly, with careful financial planning, you can recover from a short sale and eventually pursue homeownership again.

What is the function of a broker in the purchase of a house?

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A broker plays a crucial role in the purchase of a house, acting as an intermediary between the buyer and the seller. The primary functions of a broker in the home-buying process include:

Market Expertise:

Brokers have a deep understanding of the local real estate market, including property values, neighborhood trends, and market conditions. This expertise helps buyers make informed decisions.

Property Search:

Brokers assist buyers in identifying properties that align with their preferences, budget, and requirements. They often have access to a wide range of listings, saving buyers time and effort.

Negotiation:

Brokers are skilled negotiators who work on behalf of the buyer to secure the best possible deal. They negotiate with sellers, handle counteroffers, and strive to achieve favorable terms for the buyer.

Transaction Management:

Brokers oversee the entire purchase process, managing paperwork, deadlines, and coordination with other parties involved, such as inspectors, appraisers, and title companies.

Legal Guidance:

Brokers provide valuable legal guidance, explaining contracts, disclosures, and any legal implications associated with the home purchase. They ensure that the buyer understands and complies with all legal requirements.

Financial Advice:

Brokers offer financial insights, helping buyers understand their mortgage options, interest rates, and the overall cost of homeownership. They may connect buyers with mortgage lenders and guide them through the financing process.

Access to Resources:

Brokers have access to a network of real estate professionals, including inspectors, contractors, and attorneys. They can recommend reliable professionals to help buyers complete the necessary due diligence.

Problem Resolution:

In the event of challenges or issues during the transaction, brokers work to resolve problems efficiently. Their experience allows them to navigate potential obstacles and find solutions.

Client Advocacy:

Brokers prioritize the interests of their clients, advocating for the buyer throughout the entire process. They strive to protect the buyer's financial and legal interests.

Guidance Through Closing:

Brokers guide buyers through the closing process, ensuring all necessary documentation is in order. They facilitate a smooth closing and transfer of ownership.

Can you refinance a house that is listed for sale?

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Yes, you can refinance a home that is listed for sale.

I, like many, have refinanced property/homes that are either for sale and even those with sale contracts on them.

Not only can you use the more normal types of finance, including lines of credit, etc., but the class (or term) for loans that are made exactly to do so is called "bridge loans" or "bridge financing". Generally because it bridges you from one to the other property. (If you are doing this to have the funds to close on a second property, you can sometimes arrange financing that essentially will cover both, with the first one dropping off at sale, called a blanket mortgage).

Understand, the mortgage company has nothing really at risk if you are selling, as their loan is secured to the property and they will get paid sale proceeds before you.

Contrary to the above, lenders (investors) would love everyone to pay off early! The interest rate you see (actually that thing called APR) is for the interest and costs over the term of the loan. If you pay a loan off early, you effectively pay a MUCH higher interest rate (actually APR). Much, much higher. Consider how much you would pay on say a 30 year loan you refinanced every year. Lots and lots of fees and up front interest, and at the end of 30 years, you wouldn't have paid any principal really and still owe the original amount! The early payoff of loans is one of the major income factors for lenders.

What happens to the families of foreclosed homes?

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When a home is foreclosed, the families living in that home are typically evicted and have to find alternative housing. Foreclosure can be financially devastating for families, as they not only lose their home but also may face damage to their credit and difficulty securing new housing. Some families may be eligible for relocation assistance or other forms of support, depending on local laws and regulations.

How do you say there is a lot of sale in Spanish?

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you mean " there is a lot of sale". in spanish is " Hay muchas en venta" " hay muchas en ofertas".

What are responsibilities of a sales person?

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The duties and responsibilities of the sales persons can vary depending upon the nature of the business. A sales person should have all the knowledge about the product so that he may communicate with the customers. He should sell the products with persuasion and it is the responsibility of sales person to satisfy the customers while they are looking for the products. Sales person should also handle and maintain the cash. Sales person is also responsible to greet the customers, to help the customers in identifying their requirements, to promote products, to answer the customers' questions regarding the products, to negotiate the price on the spot, to arrange the merchandise properly and to supervise the ordering the supplies.

How long do white foxes live?

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they used to live for 15 years but now is is 3-7 years because of the climate and global warming.

Where can one find a list of foreclosure sales in Houston?

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An individual can find a list of homes that are up for foreclosure from real estate agents,real estate signs and also major bank websites. For example, driving through neighbourhoods is a good way to find foreclosures, the riders on the sign post may display : foreclosure, bank owned, or bank repo.

How do I get an allodial title?

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You can only get an allodial title in Texas. Unfortunately.

If you are not a sovereign, you cannot "have" an allodial title. It has to be transferred from another sovereign (the Queen) or sovereignty (Republic of X) to you.

If you have an allodial title in your land, then you are the sovereign in that land; your government cannot set foot in it without your permission (as you exercise sovereignty over that land,) which constitutes an invasion. You are then free to create your own government, establish an army, etc. You can also establish diplomatic relations with other countries...

If you can't be transferred an allodial title, you can always have a slice of an alodium, as the "citizens" of the USA collectively have an allodial title in all the land of the USA, as stated in the Treaty of Paris on 1783. The allodial title was transferred from the "Sovereign of Great Britain" to "the Citizens of the Unites States of America."

What are some of the tips for buying a foreclosure house?

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Foreclosures are generally listed for sale with a Realtor. The seller is represented by an Asset Manager, who negotiates for the bank when an offer is presented by the listing Realtor.

The first step to take in making an offer on a foreclosure is finding a good Realtor that you trust. It is best that you meet with a lender and obtain pre-qualification for a loan, if you will require a loan to make a purchase. The seller usually requires a pre-approval letter from a lender before accepting an offer. I have observed that many people think that the bank readily accepts low offers. Quite the contrary. There often is little, if any, room for negotiation. The bank usually establishes a good marketable price to move the property prior to listing it for sale. You can find B,B,&T foreclosures, Wells Fargo foreclosures, and Bank of America foreclosures via Google online. These banks post foreclosures online that you can search for free. There are also websites where you pay a fee to search for foreclosures. Your Realtor can provide you with information about the Bank Owned, Foreclosed, and Short-Sale properties in his/her MLS.

Generally the average sell price is approximately 30% less than non-distressed property, according to Lender Processing Services. The home comes as is, and it's usually up to the buyer to pay for repairs. With this awareness, it is wise to check out the property thoroughly before making an offer. You should conduct due diligence that includes a home inspection by a licensed professional, septic and well inspections, wood destroying insect inspections, and appropriate systems inspections as recommended by your Realtor. Some of these homes have been neglected and unoccupied for a year or more. Be prepared to take responsibility for deferred maintenance. Usually foreclosure properties offer fantastic pricing but it may take going through a lot of properties and making several offers before you buy the foreclosed property that's right for you.

How do you buy a house that is going to sheriff sale from the creditor before the sale?

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It's always best to have a Realtor or attorney or some type of representation when purchasing a home from a seller. There are many factors that go into purchasing a home that yourself or the seller may not be able to explain, but once signed and in writing you are bound to the contract. Contact a local real estate agent for assistance. In most cases, the seller will pay the buyers agents commission, and if they don't you can ask the real estate agent that is assisting you how much they would charge for document preparation or representation in this transaction.

Are tools sold at Home Depot of a lesser quality than those bought at a reputable tool supply shop?

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Not if you match the model #'s, but some stores will sell older models (which they buy cheap from dewalt) at current prices. There are minor differences (i.e. the plastic grip design, torque, hammer ability, quality of battery and home/professional usage.) it's best to check dewalt.com to see current models.

How do you write a letter to the principal request him to give permission to take stationary books?

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Use a letter requesting a Deed in Lieu of Foreclosure if you are asking your lender to accept the deed to your house instead of (in lieu of) foreclosing. If you have a buyer, but the amount you owe the bank is greater than the amount offered you should consider using a short sale hardship letter. A request for a Deed in Lieu should state the particulars regarding your loan: loan number and property address. If your house has been on the market tell the lender who your real estate agent is and include an authorization of the lender to speak directly to the agent. Most importantly, you need to explain why you are unable to make your house payments, e.g. medical hardship, divorce or job layoff. Submit a financial statement with your request. You can ask the lender for a copy of their form.

What was the purpose of the Book of Acts?

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The Book of Acts is the first ministry of Paul going to the Gentiles. This book of Acts proves that the Lord loves everyone equally unlike the traditional teachings of his culture in which "Gentiles" were frowned upon. It is also significant that Paul does missionary work. This is commendable and fitting since Paul experienced a spiritual experience with Jesus Christ who is God which changed his entire life.

Where can I learn about stopping a foreclosure?

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Your local bank will have the most accurate information on how to prevent your home from going into foreclosure. You can also discuss alternate payment plans or consolidating loans for a lower rate while there as well.

Who are Omar Bravo's family members?

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Answer

Omar Bravo's father name is Daniel Bravo, His mother is Lidia Elia Tordecillas, His brother is Paul Bravo

And his sister's name is Claudia

Is Ohio a recourse state?

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How long after forclosure auction do you have to move out?

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Short answer, assuming you're just curious: typically anywhere from 3 days to a few months, depending on the exact circumstances and how determined you are to stay until the sheriff drags you out in handcuffs.

If it is vitally important to you personally to know the precise details (because your home is about to be sold at foreclosure auction) you should talk to a local attorney.

What is the difference between a short sale and a foreclosure in real estate matters?

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When the owner of a home can no longer afford to make payments on their home mortgage, the home may be sold in a short sale before it enters into foreclosure. A short sale is one of a homeowner's last resorts. It occurs when a home is sold for less than the balance remaining on the mortgage. Typically the homeowner and lender strike a deal in which the homeowner agrees to accept less than the amount they owe on their home (making no profit) in exchange for the lender forgiving the remaining amount on the loan. This process may still damage the homeowner's credit, but they will avoid foreclosure.

If a homeowner can't make payments on their mortgage and the home does not sell through a short sale, the lender can take possession of and sell the property by a foreclosure proceeding.

To find out more read the full article on Nestiny.com

What is the process of foreclosure in WI?

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Wisconsin lenders may foreclose on deeds of trusts or mortgages in default using either a judicial or non-judicial foreclosure process.

If Judicial Foreclosure

The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder. However, in Wisconsin, no sale may be made for one year from the date the judgment is entered unless the lender waives the right to a deficiency, in which case the delay is six months, or two months if the property is abandoned. Sales by consent may be earlier.

If Non-Judicial Foreclosure

The non-judicial process of foreclosure is used when a power of sale clause exists in a mortgage or deed of trust. A "power of sale" clause is the clause in a deed of trust or mortgage, in which the borrower pre-authorizes the sale of property to pay off the balance on a loan in the event of the their default. In deeds of trust or mortgages where a power of sale exists, the power given to the lender to sell the property may be executed by the lender or their representative, typically referred to as the trustee.