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Thanks for your question. A home that has started the foreclosure process remains on RealtyTrac until one of the following happens: 1. The property is sold to a third party before the public foreclosure auction (typically a short sale). 2. The property is sold at the public auction to a third party....
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The reply by KDH is not exactly true. If the 2nd lien holder went to an auction and sold his lien -he got his money. The purchaser now holds title but the 1st lien still exists in the name of the original borrower even though that person no longer holds title to the property. If that 1st lien is not...
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This is Daren at RealtyTrac. You can buy a report with precise counts of foreclosed properties by lender both currently and historically, at the national, state, county and even zip code level, through our data licensing department. You can contact them online at http://www.realtytrac.com/dataproductcenter...
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@Sun144, A bank owned property, or REO must be listed before you can purchase it. If the property is not in the MLS there's not much us agents can do for you. Now, if you are a cash buyer, that's different story. I'm willing to contact banks directly for buyers, who are mostly investors and...
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It means that the property is moving through the normal foreclosure process and an auction notice has been filed. Just because a property is being offered for short sale does not "stop" the foreclosure process. You should try contacting the bank or the listing agent to find out where your offer...
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The Transfer Value is the amount provided on the trustee's deed or sheriff's deed that was given as consideration for the property at the foreclosure sale. So if the property is now an REO, then that is what the lender submitted as the winning bid at the foreclosure sale. We have heard anecdotally...
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Yup. The rule of thumb I operate by, and the one I usually advise my clients to go by is; If there is a bank involved, a, its going to take an unbelievably long time, b, it will not make sense and, c, don't get your hopes up. Unless this is a piece of property you simply cannot live without, start...
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Freddie Mac is under the gun to remove non-performing property from its rolls. The GSE has lost $84.4 billion since mid-2008 and has recently been de-listed from the New York Stock Exchange. Freddie Mac has resolved to relieve itself of non-performing property any way it can, including stepping up its...
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As an investor or a retail buyer looking to buy at a discount where are you more likely to find the steepest discount?
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It is not only in your benefit to offer a price that the market will support but as an investor, it is mandatory to back up your offer with comparables that will support that offer. As an investor we feel we are helping to get some of these distressed properties off the books of the lenders and placing...