Is it difficult to sell a foreclosed property?

Is it difficult to sell a foreclosed property?

From the perspective of banks, selling their foreclosed properties can be challenging because of their huge number, which can be in the thousands. Each property is unique and will have its own unique set of property details.

What’s the best way to get details for a foreclosure?

Don’t waste your time, and the time of bank officers, or the time of their accredited brokers, by asking for details for a property that’s too far from you, or is beyond your budget, etc. Send an email or fill-out an inquiry form for your target property. If you get a reply in an hour or two with complete details, that’s good.

How to get foreclosed property details in Philippines?

Instead, you should also include your email address in your text/sms inquiry, so they can send details through email if needed) Call the designated bank officer/or their accredited broker. Make sure to call during office hours (Philippine time) to increase the chance that someone will answer. If you get a busy tone, just keep on redialing.

Can a licensed real estate broker sell a foreclosed property?

Banks and lending institutions accredit licensed real estate brokers to help them with selling foreclosed properties. In effect, they are multiplying their manpower to solve the problems I described above. Problems solved right?

What to do if your house is in foreclosure?

If you’re behind on your mortgage payments and a foreclosure sale is looming, you might still be able to save your home. You can potentially file for bankruptcy or file a lawsuit against the foreclosing party (the “bank”) to possibly stop the foreclosure entirely, or at least delay it.

When did the bank try to foreclose on my house?

When the homeowners contacted the bank to find out what was going on, their lawyer says they were told “Don’t worry about that, just send in your loan modification application, and you’ll hear within 30 to 60 days.” But that didn’t happen. In July 2009, the bank attempted to evict them and foreclose on the property.

How to stop the last minute foreclosure sale?

Last Minute Strategies to Stop Foreclosure 1 File for Bankruptcy to Stop the Foreclosure. If a foreclosure sale is scheduled to occur in the next day or so, the best way to stop the sale immediately is 2 File a Lawsuit to Stop the Foreclosure. 3 Apply for a Loan Modification. 4 Talk to an Attorney.

Can a person win a lawsuit over a fraudulent foreclosure?

A California couple recently won a lawsuit claiming that their mortgage servicer fraudulently foreclosed on their home, but limits on the damages in the case mean that the homeowners can’t even cover their legal bills, let alone keep their house.