Skip to content

Posts from the ‘Featured’ Category


Understanding Foreclosure Laws and How to Protect Yourself

Foreclosure laws can vary from state to state but overall they are essentially the same. It is very important for you to understand the laws so you know how you can buy a foreclosure property, how to find information on a foreclosure property, and the time it will take to remove current tenants, if there are people residing on the property. If you are looking for foreclosure homes for sale there are many places to find them. Foreclosure laws require the county to list these properties in the public information section of the classified ads of any local newspaper.

In any state, you can search through classifieds and locate foreclosures that might look right for you. Banks also list foreclosures for sale. They are not required to do so but banks don’t want to own homes and if they own a home that didn’t sell in an auction, they will list the properties and try to sell them too. Often times, you can find homes owned by lenders to be significantly lower than what you would pay at the auction. This is because the banks are desperate to sell unsold auction properties.

If you see a few properties you would be interested in buying at an auction, you can attend. Many people assume auctions are not open to the public but you have to be a part of some affiliation or real estate group to bid. This isn’t the case. Foreclosure laws allow anyone in the public to attend and bid on properties. Keep in mind; you will need to bring with you a down payment. This is not discrimination but protection for the bank the bidder really can afford to purchase the property.

It isn’t very common there are still people residing in a property once it goes to the auction for sale. However, there are cases where the previous homeowner is still there. If you buy a property at the auction and people are living in the house then you will have to take your sale documentation to the sheriff’s office. The sheriff’s office will post a notice to vacate on the door of the home giving them 72 hours to leave. If they do not leave the property then the sheriff’s office will physically remove them and their belongings. The belongings and furniture will be placed in a sheriff’s storage. This is nice because you don’t have to worry about what to do with all of the items.

Foreclosure laws are important to know if you are thinking about buying a property in the foreclosure process. There are many places to look for properties undergoing the foreclosure process. You can find properties in the local newspaper or even by asking the county courthouse. Anyone in the public can attend and bid on a home at the auction. The sheriff’s office will also help you remove anyone in the home once you purchase it.

Don’t let your home turn into a foreclosed property, save it before it’s too late.


How To Find Cheap Commercial Property Foreclosure

If you are a businessman and if there is a commercial property foreclosure that is going to take place then it is really important for you to make an attempt to figure out a solution for this crucial situation.  Escaping from the situation is not a good option. It’s going to help nobody.  All you can get by doing this is nothing.  It’s not a thing that could be taken for granted. It should be handled seriously this. Your future wages may get garnished once you are into the commercial property foreclosure.

You might have some liens that are placed on your properties.  If you’re currently having your commercial property foreclosure then it is crucially necessary for you to make real efforts so that you’ll be able to come out of that situation. It’s not good for you to take it very gently.  It should not go for the temporary relief.  You must be looking for a permanent solution.  That’s always better.  The first and foremost thing that you should be looking out for is the mortgage company.

Try to get some help from them.  Ask them if they could offer special programs that might assist you in your commercial property foreclosure situation.  Sometimes you may not get help from the mortgage company, but it’s always good for you to try. So, if you’re facing a commercial property foreclosure then the first thing you should do is to call the mortgage company.

Other alternatives

As I told you before sometimes you may not get the expected assistance from the mortgage company.  But never give up.  You have plenty of other options that might be open for you.  So go and keep searching for them unless you get one. Also, you should try to find a good non-profit making organization that may be able to help you with your commercial property foreclosure.  Have your records checked.  These non-profit making organizations have certain rules and regulations which must be strictly followed, so that you’ll be able to get the assistance.

They will ask for the reasons that brought you to this situation.  You should be able to answer them with a good cause.  Even if this option doesn’t work out you still have another option. You’ll be able to get the personal loan that is offered by most of the banks nowadays with simple regulations.  This might help you to get rid of the commercial property foreclosure issue.

If you find none of the options listed above to be working then you have yet another option.  You might always ask help from your relatives and friends who might be able to help you with your commercial property foreclosure issue. The best thing that you could do is to try and earn that extra money with which you’ll be able to balance your monthly payments. This is the best option as for the commercial property foreclosure issue is concerned.

The important thing is that once you are relieved from the commercial property foreclosure problem you must be able to keep on track so that you will not commit the same mistakes again which might bring again the problem over and over.

Discover how to buy cheap commercial property foreclosure online. Learn where to find real estate foreclosure auction at my site.


The Good and the Bad of the Short Sale

You are behind on your mortgage payments and you know that you’re not going to be able to play catch-up before the bank begins the dreaded foreclosure process. If there are no other options for you at this point, you may consider arranging a short sale instead of going through the stressful experience of a foreclosure. Short sales occur when a homeowner is in default on their home loan, but the property has not yet reached the foreclosure stage. These are sales in which the lender and the owner both agree to sell the property for less money than is owed to the bank.

A short sale can do much less damage to one’s credit rating than an actual foreclosure can. This is a huge benefit for sellers because the black mark of a foreclosure can seriously affect a person’s ability to rent property, obtain credit cards, or be approved for loans of any kind. In addition, short sales can help a seller to feel more in control of the situation. While it is inevitable that he or she will lose their home, they are pro actively trying to find a solution that will satisfy all parties involved.

By taking charge of the selling process prior to a foreclosure, a seller can feel more at peace and empowered during an extremely difficult time. Short sales also benefit buyers of these properties because they can purchase a home for much less than its market value, and end up with a fabulous property for a steal. Lenders benefit from short sales because they are able to avoid the foreclosure process, which is both costly and time consuming. They may also get more money from a short sale than they can at a foreclosure auction, and they don’t have to worry about having a house sitting on their lap and losing value every day.

Short sales can in fact benefit all parties involved, but there are many short sales that never reach closing. The main reason for this is that a short sale is a transaction that involves more than just the buyer and seller; the lending company must approve the sale before it can go through. Getting approval for a short sale is difficult because lenders want to recoup as much of their money as possible. A lender must determine if the amount they are being offered is more than they are likely to get at auction.

If they believe they can get more money by proceeding with the foreclosure, they will refuse the short sale. Waiting for the lender to approve or refuse the short sale can be an exhausting process for everyone. On average, it can take over a month for the lending company to even respond to an offer, which leaves buyers and sellers in a terrible state of limbo. In fact, many buyers walk away from short sales because they can’t take all the waiting and red tape that is involved. After all, a buyer could make an offer, hand over a deposit, wait six weeks, and then have their offer be flatly rejected.

Unlike regular real estate sales, lending companies often don’t even respond with a counter offer; they simply refuse the sale, and leave both the seller and the buyer back at square one. Because the short sale process is not without its difficulties, many buyers don’t feel that it’s worth their time looking at short sale properties. For those who can stomach the waiting involved, short sales can provide a buyer with a great deal on a home, and a positive solution for the seller.

PorchLight Real Estate Group combines local market knowledge with cutting edge marketing skills. For more information on Denver CO real estate or to do a search for Cherry Creek real estate, visit us online at


Tips For Choosing Foreclosure Defense Attorney

Foreclosure is a terrible situation to have to experience. Unfortunately, the world-wide recession has foreclosures happening on a daily basis. Although you may feel that your world is falling apart, you might find comfort in the fact that you do not have to go through the process alone. There is someone you can turn to who can help you pull through such a difficult time. Taking care in picking out a good Chicago foreclosure lawyer is the first step to getting your life back onto the track of normalcy.

It is very important that you choose an experienced lawyer, one who will not only offer you legal support, but emotional support as well. You will not be going through this process alone, and shouldn’t feel that you are. With so many foreclosures happening all over the world, you should know that you aren’t the only one worrying about the possibility of a foreclosure, or facing an imminent foreclosure. There is one small comfort to be had from this experience, however.

Know that most foreclosures that have occurred recently haven’t been through any personal fault of the owners. Many people fell for a “minimum payment” scheme offered by their mortgage company, in which they could make a smaller mortgage payment for 3 – 5 years (usually this payment does not include interest, which is why it’s so cheap). Then, after the 3 – 5 years is up, the interest that wasn’t being paid for the first couple of years is suddenly tacked on and people are faced with a raised mortgage payment that they are unable to afford.

The chances are very likely that you know someone, be it a family member, friend, work colleague, or acquaintance, who has gone through the same thing. They may be able to give you some advice or recommend a good foreclosure lawyer to help you out. First you need to gather a list of possible foreclosure defense lawyers. You can easily do this by searching on the internet and making a few phone calls. It’s best if you can manage to stop by each lawyer’s office, though, just to see how you get along together. Make sure, as well, that the foreclosure defense attorney you ultimately choose is qualified to handle your case. Ask him or her about his or her experience, where he or she went to school, and things of that nature.

Improve Your Life, Go The myEASY Way™