He does not want to disclose all his finances and is too lazy to get all the info together and would rather just let them foreclose. He has assets and cash. He is older and very stubborn person in family. Very good real estate agent has been reduced to tears and we can’t talk to him and convince him he is stonewalling the whole deal.
he insists the mtg. co. is holding up the sale by asking for the necessary info

Albert

I’d like to know about properties that have been fully paid for and owned by the owner free and clear, so no mortgages. And then become delinquent only because the owner is not paying their property taxes.

1. How prevalent is this compared to all other types of properties that are foreclosed and auctioned?

2. What types of reasons does this occur that the owner is not or cannot pay their property taxes when they already were able to pay off their mortgage?

3. Does the delinquent homeowner’s debt mostly include the property taxes?

Alaa

I would like to know what I still owe the lender so that I can try to make payments on the balance.

Abbot

I’m interested in buying a home in foreclosure, but I don’t know what the different stages are or what they mean. I’ve seen “notice of default”, “real estate owned”, “notice of foreclosure sale”, and “pre-foreclosure.” Can someone please tell me the stages (from beginning to end) and what that means to me as the potential buyer? Thanks.

Alic

The bank took possesion this month on my house that foreclosed. We escrowed taxes and insurance for a year in advance. What happens to that money when the bank ownes the house now? Do I have to cancel my own insurance or does the mortgage co do that? My situation sux but Im sure it has happened to alot of good people.. Thanks in advance!

Abrahan