Because lenders have the right to place a lien on any investment property you own, it’s important to act quickly or risk losing the property altogether. Q: A bank foreclosed on a property I owned with a business partner. The bank sold the property but the proceeds from the sale weren’t enough to cover the [...]
After foreclosure, homes go to sheriff's sale to satisfy the amount owed on the mortgage. Whether you still owe money after the sale depends on a few factors. Q: My house sold at Sheriff's auction to my mortgage lender. They have recently sold it, how do I get information that my loan was covered and [...]
Christmas Gifts: A Lump of Coal for the Housing Industry. Yesterday afternoon, I sat in on a conference call about covering the foreclosure crisis. But it wasn't so much a lesson in foreclosure journalism (if there's such a thing) as it was a discussion of where we are in the now four-year housing crisis with a dash of speculation as to when we might get out of here.
Buying a foreclosure or short sale is basically the same as buying any property on the housing market. You may be able to get a good deal on a foreclosure or short sale if the market is full, but the market value and property value in your area will drive the pricing and financing the loan. Watch this Expert Real Estate Tips video for more information about short sales and buying a foreclosure.