Georgia Foreclosure Specialist

We moved to Atlanta, GA area on June 2010 into a rental property. The house is under foreclosure now.?

admin — Wed, 08 Sep 2010 05:48:22 +0000

On August 4, 2010 a letter was sent to the occupants (me) that the property is under foreclosure and has a sell date of September 7, 2010. The owner of the property transferred the property to a property management company on July 1, 2010 and refuses to respond to any of our phone calls. We told the property management company what was going on. They stated they haven’t heard from the owner and left it at that. We heard about the cash for keys program and wondered if we qualify for it. My wife is 7 months pregnant and we are in a serious bind now with this problem. Can anyone offer any advice…Please. Thank you!!

“Cash for Keys” gives cash to owners or tenants of homes in foreclosure in return of vacating the house and surrendering its keys. The agreement between the bank and occupants of the foreclosed property makes sure that it will be cleaned and left in good condition. Included also in the agreement are the date when the home has to be vacated and the occupants’ promise of:
Not vandalizing the home to be foreclosed
Not stripping copper, appliances, and light fixtures of the foreclosure
Not leaving foreclosure pets behind.

Knowing Why Banks Make such Payments

Banks may not be in the business of owning properties but once they take hold of the title of a foreclosed property, it holds them responsible for it. Meaning, if it would cost the bank lots of money to repair damages caused by the occupants, then it would mean an increase in the bank’s loss.

Sometimes, it is also costly and time consuming to get rid of a homeowner or tenant from a foreclosed home.

The Costs the Banks Pay in “Cash for Keys”

The total cost is negotiable. Banks do not usually offer “cash for keys” automatically, unless the occupant approaches them first. Moving out incur these expenses expected to get recovered:
Movers
Rental truck
Security deposit plus first or last month’s rent
Utility deposits
Temporary living quarters (example: motel)

Sometimes, banks pay a bonus to those who agree to immediately move out. However, extorting the bank can cause withdrawal of the offer. Occupants of foreclosed houses are given “Cash for Keys” for as long as they are courteous and pleasant.

More about this excellent program and how to apply – http://cashforkeysprogram.org/

Visit the City of Atlanta’s website, too, to see what programs might be available post-housing bubble. It’s in their interest to avoid creating a massive homelessness problem.

Don’t be shy about visiting churches, either. Biblitz alone has contributed a bundle over the years in the high hopes that it would be used in precisely these circs. There have certainly be times when I needed a boost and it just wasn’t available.

Sorry this is happening, but maybe the keys thing will work for you. I hope so.

What is the best way to find police and foreclosure auctions online?

admin — Sun, 05 Sep 2010 00:40:25 +0000

I’m getting my licenses in about 2-3 three weeks and would like to see what options I have. I want a decent car but most dealerships and private sellers around here are a little to expensive. I have heard a lot about these auctions and the deals people get, but I have been unsuccessful finding info about them online. If anyone knows of a site that would have info about the auctions and cars being sold in and around Atlanta, Georgia let me know.

You can get good cars in government auctions. I did.
Here you will find out when and where these auctions take place in your area.
There is a 7 day trial membership coupon on the site.

http://best-offers-online.com/gov-auctions

Good Luck

Bank Landscapers broke into my House, Should i Sue?

admin — Fri, 20 Aug 2010 10:06:10 +0000

This is what happend. My mom and dad’s home is under foreclosure, and is about to get taken back by the bank. They both were laid off last winter. Well at the beginning of the month of July, they moved into a apartment, and Have moved very little of the furniture out of the house. Well, one of my parents old neighbors called the Police because they saw the yard was looking crappy. So the Police then contacted the bank, and the bank sent landscapers out to the house to clean up the yard and stuff. Well, as the landscapers were there , the same neighbors who called the police said he saw them enter my parents house threw the back door, really late one night, so he called the cops, well the cops show up, and they denied being in the home, i guess went around the back door out front to talk to em. And they showed the police a permit saying they had a contract to do the yard, so the cops took their names, and basically left. Well the guys went back, to work. So the next day my mom and i go to the house, and discover the house has literally been emptied out. They took my dads 60 inch plasma, about 8 or 9 flat screens ( My parents were doing really well before being laid off) Stole the movie theater seats, My moms jewelry chest. So we call the cops, who come finger print, and they call us and tell us the prints match the guys who were there as landscapers. So my moms lawyer called the Bank, and talked to someone. And today, that person called my mom and said this to her " Im not saying i know our guys did this, but what would it take for this to stay out of court, what do you and your husband want". So my question is, being that the guys stole about 60k worth of Jewelry and electronics , Electronics and stuff. Should They sue the company? Or settle outside of court?

BTW, the Reason the stuff was still in the house, is because they were waiting on me and my brother to come down from Chicago, to Ga , and rent a Truck to move it for em, their literally that broke.

Get a good lawyer, sue the hell out of them….then take a part of the money to buy the house back from the bank for pennies on the dollar…use the lawyer to do all the paperwork so the bank does not know its you buying it back….and pay cash for the house ! Make sure you put a hold on the foreclosure via the courts and make sure the media gets word on what happened with the thief’s that took your stuff…..if the cops don’t arrest anyone then bring that up in court too !

PS….make dang sure you keep paper records of everything and every time you talk to anyone……there is s good chance your parents can get a free home and some money in the pocket after its all done with…

GOOD LUCK !

Question about VA loan when buying a house?

admin — Wed, 18 Aug 2010 20:00:21 +0000

Hello. My fiancee and I found a house we are very interested in here in Douglasville,GA.

Its a foreclosure and the only issue with it is it needs roof work, either repaired or a whole new roof.

My fiancee was wondering if a VA (he was in the Marine Corps for 5 years) will buy a home like this?.. Does any body know?

Oh, the agent/owner is not repairing the roof before we would buy it.. it is not included in the house price. If we fix it, it will be out of our pocket obviously.

thanks for any info.
Oh, Also he got a pre approval letter from Bank Of America and its a Conventional loan and not FHA.

Not necessarily out of pocket. You can tack on money to the loan for repairs of credit is good.

As for whether the loan will buy it…it is up to your credit.

There are restrictions if you sell it though.

foreclosures, auctions, bank owned…im confused?

admin — Mon, 16 Aug 2010 01:01:24 +0000

allright, i was on Yahoo! Real Estate and they have all these auctioned homes and my question was, if i am the winning bidder, do i have to have the cash ready right then and there? or can there be a loan? im in GA is it true that there is no redemption period in GA? what do i need to look out for? whats the catch i guess…thanks for your help

I am sure the laws vary state to state but in my state, for sale by bank means you buy it as is. Same idea as buying a car as is with no warranty. I would look for a phone number on the property listing you are interested in and call and ask specific questions. Or if you know someone in real estate ask them.

In Georgia how long (on average) does it take for a foreclosure to take place after you stop paying?

admin — Tue, 10 Aug 2010 03:47:36 +0000

Depends on the lender, not really specific to the state, except that in GA, lenders can move through the process more quickly

How aggressive the lender is in trying to clear bad loans, or whether they let them stew a while

I have a huge pool of standing water and my water bill keeps going up?

admin — Tue, 03 Aug 2010 09:53:15 +0000

My husband and I just bought our house a couple of moths ago and it was a foreclosure. Well it has had its problems and we are noticing another. We have a large pool of water right beside our drive way and house. We thought it might be from compromised drains under the ground but the water never dries up. I live in GA with a heat index of 96 for about 2 weeks with no rain and its still not dry. On top of that our water bill has gone up. Any suggestions.

seeing as how your bill keeps going up the water leak IS on your side of the meter, have a plumber come out and give an estimate unless you are a do it yourself kinda person….if so shutoff the water at the main and dig up around the water leak until you find the source of the break you may need to turn the water main back on, once you have dug up the pipe, to find the leak. i just hope you dont have to tear up your driveway to fix the leak.

Foreclosure Stop – Foreclosure Prevention Video

admin — Tue, 13 Jul 2010 17:02:25 +0000

http://www.TheScoreSolution.com. Foreclosure Stop is a major concern for homeowners. all over the country. Prevent foreclosure with this simple, yet powerful foreclosure prevention strategy.

Duration : 0:2:47

Atlanta Home Foreclosures

admin — Tue, 13 Jul 2010 17:02:18 +0000

Learn how to get free access to Atlanta bank foreclosures and HUD homes. Learn how to buy smart and to save money when you are buying a home in Georgia.

Duration : 0:2:31

Government Assistance?

admin — Tue, 13 Jul 2010 16:32:50 +0000

what is the age requirement in Georgia to be eligible for HUD?

Age is not a requirement for HUD assistance. You have to be elderly, disabled or a low income family to qualify for assitance.