Sentences with phrase «sold as a foreclosure»

The FHASecure program was sold as a foreclosure - prevention effort.

«But it was in such a state of disrepair and was selling as a foreclosure, so the bank just wanted to get rid of it.»

Not exact matches

Even if you have poor credit, foreclosure, or bankruptcy in your history, whether you want to fix and sell or just hold onto a property, we can provide the financing you need as quickly as possible.

The Federal National Mortgage Association — known as Fannie Mae — sells property it acquires through foreclosure, deed in lieu of foreclosure or forfeiture.

The FHASecure program was marketed and sold to the American public as the one concrete benefit of the President's otherwise all - volunteer foreclosure relief program, a program which requires no lender to do anything.

The other way to make money by purchasing foreclosures for investment purposes is to sit on the property as a rental instead of selling it outright.

A moratorium on all foreclosures could cause home sales to plummet, as mortgage lenders can not sell foreclosed homes until they acquire the title through a sheriff's sale or public foreclosure auction.

Its traditional business of selling legal advertising of foreclosures has withered as the California economy improved.

Now, if the property is not a primary residence but an income property or a cottage then you could find yourself in a forced sale situation — where the CRA proceeds with the lien in federal court, prompting you to either pay your outstanding debt, or lose title and ownership of the property, which then goes through the legal procedure of foreclosure and the home is then sold as a power of sale, to clear the debts.

Real estate owned properties may be sold below market value, but not as low as they would list for in a foreclosure auction.

As has been the case in recent years, the year - on - year uptick in prices indicates fewer distressed properties on the market; these properties, foreclosures and short sales, are where the home sells for less than is owed on the mortgage, and typically drag down median prices.

I have clients who were very close to foreclosure when they were referred to me as they had, unfortunately, wasted a lot of time trying to sell their house for much more than this market will bear so that they could pay off their loan in full.

Criminals are gravitating to those distressed housing markets to employ foreclosure rescue schemes and other fraudulent plots such as «flopping» or selling homes at deflated short sale values then quickly selling it for a higher price, according to Interthinx,... View Article

The catch is that foreclosures are almost always sold «as is» which puts the buyer on the hook for any complications.

If a borrower falls behind on mortgage payments to the point of foreclosure, the mortgage provider seizes the house as collatoral; the house is then sold to make back the loan amount.

Here is what HUD says: «Effective May 22, 2013, HUD allows mortgagees servicing HECM loans a 90 - day extension to take the first public legal action to initiate foreclosure as required by 24 CFR 206.125 (d), following expiration of the six month period during which the mortgagor or mortgagor's estate attempts to sell the property.»

Foreclosures can be sold at an auction, on the open market or offered as a pre-foreclosure sale.

So long as residential properties sell for less than their mortgages there is downward pressure on prices, because negative events lead to foreclosures, not sales.

If you absolutely MUST come up with a large amount of cash quickly (for such things as medical bills, a down payment on that great house deal, avoiding foreclosure, pay off gambling debts or else your kneecaps get busted, etc.), then that cash is just a few mouse clicks away when selling off dividend stocks.

In cases such as these, the bank might weight the foreclosure costs, the cost to hold and sell before making a decision.

AND, the Servicer has (1) informed the consumer of their rights and options (2) worked with the consumer to exercise their rights and options (3) together with the consumer determine the consumer is unable to exercise any option to avoid foreclosure (such as selling or purchasing the property).

While that enables you to sell the property and to get out from making the mortgage payments, it will have a similar impact on your credit as an outright foreclosure.

If you were unable to sell your home because you had to move to a new area, this does not qualify as an exception to the three - year foreclosure guideline.

As an alternative to foreclosure, you may be able to sell your home and use the proceeds to pay off your current loan.]

In that case, they want to sit in the house for as long as possible rent - free and sell off things in the house, until it goes to foreclosure.

Instead of resorting to foreclosure, the homeowner's lender might advise him to quickly sell his home, most likely to an investor who will purchase the property as - is at a reduced price.

It should came as no surprise that lenders do not like this situation because the promise to pay contained in the note is gone and the lender has lost the ability to collect a deficiency if the house is sold at a foreclosure auction for less than the amount of the loan.

To compound the problem beyond the individual foreclosures, the inflated selling prices of the homes remain in the system for use as comparable sales prices for valuations in the coming months.

Also known as a sales compromise, a short sale involves the lender and the homeowner agreeing to sell the property in order to avoid a foreclosure.

As foreclosures increased, repossessions multiplied, boosting the number of homes being sold into a weakened housing market.

But of course, for those knowledgeable of the Wailea Beach Villas, the sale of a REO (foreclosure) in unit PH - 208 skews the numbers significantly, as it sold for $ 916 per square foot and thereby puts unnecessary downwards pressure on overall values.

It was formerly known as the Mondrian SoHo, which was sold in a foreclosure sale in June of last year.

In other cases our Dawson Creek Family Lawyers know the home must be sold to free up money to settle the case, to pay off arrears on a mortgage, to salvage as much equity as possible if foreclosure proceedings have been commenced or lastly to facilitate a fair division of Dawson Creek family property after trial.

As he became known as the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listingAs he became known as the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listingas the king of foreclosures in his area — his brokerage sold more than 800 bank - owned and HUD properties last year — it became more difficult to get conventional listings.

Foreclosures sold for an average discount of 14 percent below market value in September (same as in August), while short sales were discounted 14 percent (10 percent in August).

Three out of four loans that enter the foreclosure process will not wind up as a foreclosure sale, either because the home owner cures the delinquency, works out a payment plan with the lender, refinances, or sells the home.

I myself own a property in Racine which was my primary residence for a short time until I divorced my wife and moved to Chicago... I had it built (stupid, I know but it was what the lady wanted) and ultimately couldn't sell it when I moved as it is in a new subdivision and there are a lot of nicer, bigger, slightly older homes for sale in the area for less than what I owed on my loan, plus there are more than a few foreclosures / vacancies in this neighborhood.

Surprisingly, foreclosures have even encroached into some key cities that were formerly thought to be unshakable real - estate markets — like San Francisco, where foreclosures actually rose in 2010 (including in luxury neighborhoods like Pacific Heights, where a condo that sold in 2007 for $ 2.3 million recently sold for $ 1.44 million as a foreclosure).

There are sellers who have pressing reasons why they must sell, such as a job transfer, divorce or foreclosure.

A Foreclosure Estimate is the price Zillow predicts a property will sell for if it's listed as a foreclosure (bank - owned property or real estate owned).

The licensees bought the home as a foreclosure, remodeled it, and then sold it to the plaintiff.

The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

Zillow predicts this property will sell for $ 156,639 if it's listed for sale as a foreclosure.

I am renting my former residence out because I could not sell it, and I wanted to do the right thing as opposed to letting it go into foreclosure.

Whether the goal is to flip the house or turn it into a rental homes needing repairs often provide better returns because they sell at more steeply discounted prices yet once the repairs are complete these homes will rent for the same amount and / or sell for the same price as other homes not in foreclosure or short sale.

Vacant and Abandoned Housing and Property — The state of Indiana amended its provisions regarding vacant and abandoned housing and property by providing that a county, city, or town fiscal body may adopt an ordinance to establish a deduction period for rehabilitated property that has also been determined to be abandoned or vacant; specifying that there must be delinquent property taxes or special assessments on real property before it may be sold by the county treasurer as an abandoned or vacant property; and relating to delinquent tax sales, the tax sale blight registry, mortgage servicing, sales disclosure forms and foreclosure prevention agreements.

Short sales are still a 90 day battle to get approved, but the short sale is one of the best options available when facing a foreclosure, or you must relocate and are unable to sell as a standard type of sale.

Even if you have poor credit, foreclosure, or bankruptcy in your history, whether you want to fix and sell or just hold onto a property, we can provide the financing you need as quickly as possible.

We have the resources to list and sell your house as a short sale, and we know how to price your property to peak buyer interest and initiate buyer activity to short sale your home before foreclosure concludes and you are God forbide left homeless.

In July, 79 out of 312 properties sold were listed as foreclosures.