Foreclosure University
Your Online Real Estate Investing Resource
by Jarad 2 Comments
I have tried on several occasions to contact home owners who are going into foreclosure and haven’t been successful.
I have driven to many of the properties involved only to find out the homes have been vacated. Using the white pages I have found the listed phone numbers of these home owners only to find out their lines have been disconnected.
How do I make any progress finding home owners to talk to?
I use the local legal pages to find houses going into foreclosure.
by Jarad 3 Comments
I have been in contact with a company called Foreclosure Alternatives. Paid $850 fee to them, they are supposed to arrange repayment plan with lender. I made 1st payment (original mortgage payment + 20%) into savings acct. as told, plus forwarded W-2’s, pay stubs, financial info, etc….
Now have received Notice of Sheriff’s Sale. Is this company legit, or have I been scammed? I was behind due to being on medical LOA from work, but will be returning to work this week full-time. Sheriff’s sale is scheduled for December 8th. Should I stay with this company, or contact another attorney? Do I have enough time to stop the Sheriff’s sale?
by Jarad 4 Comments
I have been posting this on any forum I could find today.I am not sure if this is the best place to look for help, but I am currently three months behind on my mortgage payments. My husband lost his job and we have been strapped ever since. Our mortgage company, countrywide is just out for blood, they don’t care that we can’t even afford to put food on the table. I am at the public library right now because I can’t afford the internet any more. We owe about 110,000 on our home, and we have considered selling our home…but I just can’t face telling the kids we have to move. I think we have some equity, a house just down the block sold a month ago for around 210,000. I am just so embarrassed about this whole thing…I just need some more time. I live in lakewood, CO and i need someone out there who understands all of this to help my family save our home.
by Jarad 2 Comments
My son is just getting into the Foreclosure business. I will tell him about your site and e-books.
In the meantime, I have a question in regards to Foreclosure Sale.
We live in Colorado, USA
When the Foreclosure Sale takes place, and the Lender (who foreclosed) out-bids the highest bid to insure they are owner until the 75 day Right to Redeem period is over, does the second highest bidder (not a junior lien holder) have first right to purchase the house if the original owner does not exercise his option to redeem? The reason I’m asking this question, The foreclosure sale has already taken place on our house. We have been trying to redeem our property. We have less than a week left and it is not looking favorable. We do have investor who will buy the house and do a rent-to-own agreement with us. He can’t get his loan closed by May 2nd. So, our lender told us he could call the attorney that handled the foreclosure. But they said he can’t call them until 5:01 pm on May 2nd. What if someone else put a sale bid on the house before our Lender Chase put their bid on our house? Are all bids off at this point? If our investor offers the redemption price plus associated costs does he have a good chance of buying the house from the lender?
I’ve recently lost my job (2nd time in 3 years) and its making it hard to keep my house. I had to move from Indiana (where house is located) for a job, but couldn’t sell it (too much owed for what worth). I have tenants in the house, but I still lose money every month. Its come to the point that I can’t afford it and I simply want to let it go.
I’ve attempted several times to reach my mortgage company’s hardship department via fax (their only method of communicating with them) and they have not called me back.
What happens if they foreclose on the house while I have tenants in there? I don’t want that house at all, but its much better than going through BK. Your input is appreciated.