I am selling my condo in short sale, but lender is not willing to sell it to investor. There is no interest from people to buy it for a primary residence. So lender is forcing me to foreclose.
Is there anything I can do to prevent a foreclosure?
After we went into foreclosure, we set up a repayment plan. We followed all terms and they now put us into a modification. We cannot afford the modification payment, we are in an adjustable rate that is at 11% and will go as high as 14% by june and we have really bad credit. We also have an investment property which we purchased through an investor at a really high interest rate. We are seriously considering bankruptcy to get a clean start. My question is, should we still try and sell or short sale our house even though we are filing bankruptcy?
I pay my lender 4,000.00 they told me that they were go stop the foreclosure and they were not go in to sell my house to the investor and they still sold the house. and now they are trying to get my house back but the court send eviction letter i don’t know what to do
I have been told by Chase that if I do not make two payments by February that i will owe three in march and the will accept no less. How do they expect me to prevent foreclosure when I can’t make 1 payment to get off the chopping block
I just want to make some effort to keep the account from getting to 90 days past due so I can prevent foreclosure. It seems that they are going above and beyond to foreclose. Why would they not allow me to make an attempt to keep my house?
They have told me that’s how their investors have structured the program. I wonder how an investor would want to foreclose and spend up to ,000 on legal fees, realtor fees and above all re-selling my house in this market.,,,especially when i’m only 3 month behind and I want to make an effort to give them some money. I paid 125,000 for the house and I’d be lucky to get 100,000 for it now. Is it really to their benefit to foreclose over the 00 i’m behind? Especially when I contact them 2 times a week trying to work it out,
With over million applications pending, Lenders have only modified 66,000 home loans. Lenders come up with every excuse in the book and have no intention or desire to modify your loan without a fight. Why would they rather foreclose and force future value of their assets down when home prices fall? Should our Government pass legislation requiring Lenders to modify all loans in default by reducing the principal to market value and fixing the rate at 2-3% while reseting the term? Instead, banks will foreclose, spend ,000 including lost revenue while the house sits on the market for 9 months before they resell it for market or to an investor for 30% below market. Fixing the housing market involves saving people from losing their homes and preventing values from free falling again.
but we are both on deed, lender reported negative to credit bureas, Investor made the choice not to contact me. If I wasn’t considering saving $$ and check my credit I would not have know the last payment made Oct. 2007 Forceclosure was scheduled June 1, 2008. I paid the requested reinstatement of loan amount. I e-mailed the investor never until this day have gotten a response. He have called the police and was advised this is a civil matter. I posted Private Property & No Trespassing in the window. Investor told my huband the reason he stop paying the house will take to much work and he did not want to pay monthly mortgage and did not bother to contact myself nor my husband. until we decided to see all that need to be done. We have hire a contractor to do all the interior work and, stop a gardner on the street to cut front/back yard so it would not look completely abandoned. house was allow to be used a flop house unlock, we changed the lock to keep the varants out advise
The loan is only in my name and I was completely mislead, told untruths and no one would return calls on the investor situation. the agreement state the investor is repsonsibile for paying the monthly mortgage that is my name. it also state the investor agreed no payments are not to be late, if payments are not made investor is in breach of contract and become null n void, in addition to investor is indebtedness for not making payments.
it is one of the deals/situations we buy houses you don’t have to pay two mortgages. That the investor will take over payment until they resell the home and give the monetaries that was agreed upon. after paying for 2 yrs investor decided to stop paying and choose not to inform me. I have to told that these situation are a complete rip off and everyone that get involved with this unfortunately situation 99% lose their home to foreclosure without even knowing until it is to late. as I mentioned earlier I have paid the reinstatement of the loan in full. as I research options I am realizing that overall agreement was prepared in bad faith just to one of many. But I will continue to research until I can get this resolved.
I have a Real Estate Attorney and he have all the docs, in additon he wanted the investor # which I provided. Within a day the investor called did not leave a message, he them called my husband. I believe when the investor realized the reinstatement of loan was paid in full my me and the call from my attorney he then wanted to talk. I also believe that the investor was counting that I would not check my credit and if I did the reinstatement of loan amount would have been much more than I could afford to come up with and my house would have be autioned/forclosed to the higher bidder without him ever contacting knowing that he is in breach of contract and defaulted on the monthly payments
I pay my lender 4,000.00 they tolled me that they ware go inn to stop the foreclosure and they ware not go in to sell my house to the investor and they still sold the house. and now they are trye to get my house back but the court send eviction letter i dont know what to do
Due to a challenge my business recently faced, I had quite a dip in my credit rating. I have the opportunity to buy a 2004 mobile home appraised at k, for about -k. If swapped out quick enough and properly it has the potential to make k in profit. Is there any way to make this work, maybe a hard money loan, or how could I find an investor that may be interested in partnering with me on this?
I am trying to buy my first home and am looking at pre-foreclosure properties as an option. I have located a pre-foreclosure approximately one mile from where I currently rent a home. I have begun researching how to go about buying a pre-foreclosure, and I know that my first step is to contact the homeowner by mail. I already have his name. Because I live so close to the property and frequently drive by, I am aware that no one has lived there for some time, and I am concerned that any letter I write would not reach him.
How can I make sure that he receives my letter?
Also, I am not an investor, and I am not represented by anyone…I am just a young mother looking to acquire my first home at a reasonable price. Does this lessen my chances of being able to make a proposal that would benefit both myself and the homeowner?
Any guidance would be greatly appreciated. Thank you.
My husband and I are having our home foreclosed on. We have been informed that the house already sold at auction and it willl cost more to buy back than we owed on the home. We are already resolved that we can in no way save the home from foreclosure and we are prepared to begin looking for new living arrangements. My question is should we sell our home and try to at least prevent the forsclosure from following us on our credit? If we do opt to sell should we sell to an investor? Are they reliable? I figure that it’s better to take something than it is to just let the bank take it. With the market the way it is here in MIchigan we could never get a buyer in time. Looking for suggestions of any kind, or advice. Thanks.
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