FORECLOSED HOME---Q's for BANKERS and REAL ESTATE AGENTS???Beautiful home that I grew up in is now being foreclosed on because my dad died and now my mom is faced with all of the back taxes that were never paid by my dad. She has no choice due to the taxes that are attached to the house and has decided to move on but I would like to purchase the house because it is going... |
Just to ask, does your State allow your mother to redeem the home before the auction by paying all the back taxes? That may be your cheapest option.
Call her current lender and explain the situation. Ask them if they are interested in a short sale. this is a sale to you for less than mom owes the bank.
Or ask if you can refinance the property with you on the loan and pay off the back taxes with the proceeds.
You can always stop the foreclosure process by mom filing bk. this will also give her a chance to get rid of taxes. You can bk some taxes. Or at least set up a payment plan so she does not loose the house.
I dont know how to respond to answers nor do I know hot to e-mail people (probanker I need your e-mail) so I am writing on a different acoount.
My mom owes close to 1 million in taxes. I just thought the best way was to settle with the bank from another party(- me) through the auction any more advice
Yes to all your banker questions except for the last one. Has your mom recieved any foreclosure notices stating the banks name? I am employed by one of the largest mortgage brokers in the country. We work with over 350 lenders to bring you the best rates and programs. I welcome the opportunity to help. Please feel free to shoot me an email anytime with any questions you may have.
