What does bidding on a pre foreclosure mean? What would be the process of getting the property afterwards?

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What does bidding on a pre foreclosure mean? What would be the process of getting the property afterwards?

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Question about home foreclosure?

by FlorenciaBrifma on April 8, 2013

Had a home financed through Bank of America. Filed bankruptcy last year home included. Just now began to receive notices about home going into foreclosure from Bank of America. What is an estimated amount of time do I have before I need to get packing? Home payments are a year behind……..all I want to know is this: how long can I remain in this house before they kick me out? All I have received so far is paperwork saying it’s about to go into forclosure. I just want to know typically, how much time do I have to remain in the home. How much notice will I be given prior to having to move?

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Should I invest in a foreclosure or stay in my paid off mobile home? The mobile home is a very nice 1997 single wide (vinyl siding and shingle roof) that we bought new and have had it paid off for several years. We own the lot that it sits on (not in a trailer park). My question is, would it be better to just stay in the mobile home rent free or sell it and invest in a foreclosure that is a stick built home that was built in 2000 and is listed at 35% below the market value?

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Should I invest in a foreclosure or stay in my paid off mobile home?

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I am living in a house that is being allowed to go into foreclosure. From what I understand the owner is declaring bankruptcy and including the house in that bankruptcy. I am wondering approxiamtely how much time I have from the bankruptcy hearing until I have to vacate the home. This is all happening in Michigan. The bankruptcy is a liquidation of debt, not a reorganization of them. I am asking this question so I know how long I have to save money and to get a better idea of when Ill need to start looking for another place to live.

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What is the foreclosure process like in a bankruptcy?

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How do I stall my home foreclosure (BofA) and continue occupancy as long as possible? (in Chicago)?

December 28, 2011

I have hired a foreclosure lawyer- but he seems conservative. I owe lots but the house is worth lots. Upside down? Maybe- Maybe not. I want to stay as long as possible. I need advice on all possible stall tactics.

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How to Prevent Foreclosure Through Forbearance, Loan Modification or Bankruptcy

December 16, 2011

It’s a story that’s all too familiar in today’s economic climate: you, or someone you know, have fallen behind on the mortgage payments. Whether you missed your mortgage payments due to a job loss or a skyrocketing adjustable mortgage rate, there’s no denying that missing out on these payments has put you on the fast-track to foreclosure.

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Distressed Homeowners Need to Know They Have Options

December 16, 2011

There seems to be a staggering number of distressed homeowners who are underwater with their mortgages these days and many of these distressed homeowners are making mistakes simply because they are not aware of the options they have or they fall prey to one of the many predatory “rescue” scams that distressed homeowners need to look out for. The options a distressed homeowner has depends on if they hope to stay in the home or they don’t wish to or can’t stay in the home. If a distressed homeowner wants to keep and stay in the home their choices are…

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Top 3 Methods to Stop Foreclosure Proceedings

December 15, 2011

Finding a way to stop foreclosure proceedings can feel impossible when you are in the middle of foreclosure. Getting help and becoming educated are the best tools that you have to fight your foreclosure process. Going it alone can be difficult and more costly than finding help.

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House Republicans Focus Their Attack on Warren

December 14, 2011

The Republicans apprehensive of clamping down of regulations for the protection of consumers came down harshly in the House on Elizabeth Warren, the respected new head of the Consumer Financial Protection Bureau. She is one of the few who anticipated the coming of the crisis long before the waves crashed.

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Foreclosure Aid Programs In Review

December 14, 2011

There has been much discussion about foreclosure aid programs developed to help struggling homeowners find mortgage debt relief. While some have found success through these programs, others were not so lucky. Additionally, many people simply get overwhelmed by the sleuth of options. One way to maximize your mortgage relief efforts is through education and getting to know more about your options before you step foot into the lender’s office.

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