FutureMon
OW My Eyes
Premium,ExMod 2002-05
join:2000-10-05
Colorado Springs, CO
clubs: 
| reply to No_Strings
Re: Home Values going down the toliet?
lol yeah I was only kidding about the credit card thing. 
But I have been looking at foreclosures in the Colorado Springs and Denver areas. I'm not subject to the pre-pay penalty on my 1st if I am selling the home - only if I am refinancing. So if I could get 650k for my place (hell freezing over?) with a spread of anywhere from 4-10% commission off the top I'd have a minimum of 54k to put on something else.
Looking at a 170k foreclosure with 40k down would give me something like a $600/month house payment - and the flexibility to do whatever I want in terms of work, because I'm not chained to such a huge house payment.
- FM
--
Undisputed BBR Karaoke Champion! Care to challenge me? |
|
aztecnology
O Rly?
Premium
join:2003-02-12
Murrieta, CA
 ·Verizon FIOS
| reply to dogma
said by dogma  :I would bet it's either a typo...or it's what the lender will take to re-instate the loan at the present terms. I would imagine the property is upside down in value, so the existing loan balance is higher than the property is worth. Hard to tell without details. But there seem to many there at the low $ figure. A few are REO's and the rest are Notice of default. aztecnology would probably have a better insight. The $ shown is the NOD amount, or 3 months of non-payment - the pre-foreclosure.
As you go deeper into the pages you'll see the NOT's, houses that have been foreclosed and will by sold at the Trustees sale...
NOD - Notice of Default
NOT - Notice of Trustee Sale
Foreclosure.com and Realtytrac.com have fairly up to date information, and can give you a decent snapshot in time. Full access requires $, but the basic tools work well enough for informational purposes...
Glendora NOD's:
»www.foreclosure.com/search.html?···s=25&pg=
Glendora NOT's:
»www.foreclosure.com/search.html?···s=25&pg=
»www.foreclosure.com/
»www.realtytrac.com/
--
"Independent thinkers tend to ALWAYS have someone not agreeing with them. It's The non-thinkers that always come in legions." John Callari .:|:. Say no to the IRS Yes to the Fair Tax |
|
81399672
Premium
join:2006-05-17
Los Angeles, CA | what does inactive foreclosure means? |
|
aztecnology
O Rly?
Premium
join:2003-02-12
Murrieta, CA
·Verizon FIOS
| "In the event that a foreclosure or FSBO is under contract it will be marked inactive. However, a listing can return to the market if the purchase falls through. In this case, we will continue to display the listing for a limited time".
»www.foreclosure.com/termsabbrevi···msdef=ps
--
"Independent thinkers tend to ALWAYS have someone not agreeing with them. It's The non-thinkers that always come in legions." John Callari .:|:. Say no to the IRS Yes to the Fair Tax |
|
81399672
Premium
join:2006-05-17
Los Angeles, CA | thanks for that explanation |
|
