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Dec

07

A forclosed Home, NOD for sal?

Published under Instant Guranteed Online Loans Nsf Bank Account by admin.



I found this house online on yahoo real estate it says that its amount is $8,051
“This property is a Notice of Default. This is the initial document filed by an attorney or trustee on behalf of the foreclosing lender that starts the foreclosure process. This 1856 square foot property has 3 bedroom(s) and 3 bath(s). The estimated loan balance is $8051. To access more extensive information on this property click the ‘more property detail’ link below. You will need to register for full access. Information listed with each property including estimated loan balance is derived from sources deemed accurate but we do not guarantee the accuracy of such information. Please consult all relevant title documents prior to purchase…”

Does it mean that its up for sale for that price, or is their an auction or something that starts at that price, how can I know how much it costs?

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There are 4 Responses to “A forclosed Home, NOD for sal?”

#1 mocgap - 09 December, 1:05 PM

“If it sounds too good…………”

This is most likely a hook to draw you into their system, if you have to pay anything to register, stay away! If it IS true and you do not have to pay for info, then have a title attorney investigate the property for other liens etc., usually the liens attach to the property since it is collateral for the loans so the new owner will be responsible for any outstanding. You could also check around with Realtors in your area who specialize in REO’s, one of them may already have access to the info you are seeking.

Good Luck to you!

#2 I'm My Son's Mom - 12 December, 2:09 AM

no—the $8,051 is only the amount that is in default at this time…probably 3 or 4 months of payments.
You will need to contact the trustee to see what the total is..and where the bidding will begin at the trustee sale.

good luck

#3 godged - 14 December, 2:30 PM

That $8,051.00 is the amount that is currently in default. By the time the property gets to sale, if it ever gets there, the entire amount owed on the principal plus fees will be the starting bid on the house.

#4 J k - 16 December, 8:14 PM

The $8,051 amount is either back taxes owed on the house, or past due mortgage payments. Either way, this is not the price that the lender is asking for the home. It is a notice (of default) made public, to inform the seller he needs to bring payments current OR the home goes into foreclosure. If you register to get more info, you pay a fee, and you may find out what is owed on the home. This is usually the price (and then a little more) that the lender will be asking for at the auction, which the date will be published in your local paper (if the home is local). Once the house goes to auction, it will start at the price the lender is owed, which is normally much more than the payments the homeowner defaulted on. You can get this info and more free from your local Realtor. Realtors have access to all kinds of info that the public usually has to pay for. Call up any Realtor and find those answers to your questions on this home if you’re really interested. If you work with a good Realtor, he/she can help you determine if this is a home worth your time. Good luck

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