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Each lien is against the property. The first lien stays and stays in your name. That makes the title clouded. The purchaser at auction will still have to pay off that 1st lien to get the title clear. If it hasn't been to auction yet I may be able to assist. Email me at cddchuck@yahoo.com
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Your frustration is heard, and shared by many. Your plan to survive this financial crisis going forward is in need of some additional options...which you may or may not know of. The key to surviving in this current economy is knowledge...knowing what is available to you, and how to plan for the road...
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before you decide to buy, you definitely should check the title on the property to make sure that you are not inheriting any unwanted liens. after you check that, you also want to determine what the maximum price you want to pay for the house. take into account any closing costs or buyer premiums along...
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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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My name is Sheyenne Schultz. I am a buyer's agent helping people like you BUY REO/ Bank Owned homes and Short Sales. You pay me nothing, the BANK pays me. I help tons of buyers get into bank owned homes. I am the preferred agent for Realty Trac in the Redondo Beach and surrounding areas. I have put...
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Is the bank a local bank, national bank or Freddie Mac/Fannie Mae?
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If you were the seller and you thought that you had equity in your house, you would list the home for more than the loan amount prior to a foreclosure too. When the home is actually foreclosed upon, the lender only recoups the loan amount plus their hard costs, thus, at the foreclosure sale, you can...
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A first move would be to get on the bank's website and look for their local banking executives. From there you are looking for someone in the REO or special assets department. When you find that person's contact information, always ask about a specific property, never ask them to send you what...
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I received the February Newsletter today from RealtyTrac. They have an article about how to find short sales on their website. Here's the link from the newsletter: http://www.realtytrac.com/news-trends/newsletter/current.html?a=b&year=2010&month=February&article=4&accnt=235951 I was...
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You can either go down to the county's register of deeds office or just have a title agent run a "title search". I choose to do that latter and pay about $5 per full title search just to be nice.