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Posts Tagged ‘Foreclosure’

What are the chances the bank will sue after a foreclosure?

If I have an 80/20 loan (and the 80% is a 30-year balloon note), and I try to negotiate a short sale or my house goes into foreclosure, and the house does not sell for what is owed on the loan, what are the chances that the banks will sue me? What is the absolute worst thing a bank can do if the owner stops paying? And if they do sue, and I can’t pay, what happens then?

I live in Ohio, btw.


How long does it take bank to put a bank owned sign on a home in foreclosure?

Husband and I own two homes, we rent one out. We have a lot of problems with renting. We’re trying to keep 2nd home but depend on renters to cover mortgage. Home is not in foreclosure but if we have to let rental go, when will the bank place sign? Will current renters know about foreclosure BEFORE sign is up? It is a month to month agreement.


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How does this work if one bank starts a foreclosure then sells to another bank before foreclosure is complete?

I have a mortgage with one bank and could not pay so the bank started foreclosure proceedings. The foreclosure is not completed yet so does the new bank have to start all over and file all over again?


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What are my options to finance a foreclosure when the home will not appraise for the value they are asking?

They are only asking $40,000. The house sits on 4.6 acres so can you finance the land and just have the house as a bonus. What are some finance options I could try?


Can i buy a foreclosure home 30,000 and sell it to a investor for 50000 that same month?

I am about to get a good settlement and want to invest in this foreclosure homes. I heard u can go and buy some at ur local banks, but can i sell it the same month to a investor for double the amount? Some investors don’t even look at the house, they just give a price based on the year and how much it may be in the market.


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