Foreclosure Wiki
Foreclosure Wiki: Why work with a foreclosure buyer’s agent?
September 12, 2009 by David Patterson · Leave a Comment
Buyer’s Agent Smoothes Sometimes Bumpy Road to Foreclosure Purchase By Rick Sharga, Vice President of Marketing for RealtyTrac Whether it’s the first time or the tenth, buying a home can be both an exhilarating and overwhelming experience. As with any major purchase, there’s a significant amount of pressure to make the right decisions about such [...]
Why are REO homes priced all over the place?
August 22, 2009 by David Patterson · Leave a Comment
Are banks and loan servicing companies able to accurately price distressed properties and REOs? Some do a good job, but more often than not they rely on national indexes, rather than use local assets in the field such as qualified Certified Foreclosure Specialists who know their cities neighborhood by neighborhood. And they are in tune [...]
What is a best and final offer
June 22, 2009 by David Patterson · Leave a Comment
If you’ve purchased properties in Anthem when it has been a seller’s market, you probably encountered situations where a multiple counter offer form was used by sellers to get the best price for their homes. Banks’ assets managers use a similar process that is used in the public sector procurement process called the “Best and Final [...]
Advice for renters if landlord faces foreclosure
May 9, 2009 by David Patterson · Leave a Comment
Associated Press You’re paying your bills, but your landlord isn’t. And you’re the one holding the eviction notice. This is becoming an all too familiar scenario for thousands of renters nationwide who have become the unintended victims of foreclosures. Banks are booting good tenants onto the streets with little to no notice after seizing a [...]
What is the Foreclosure Lowdown?
April 20, 2009 by David Patterson · Leave a Comment
The paragraphs below cover individual aspects that should be considered when trying to prevent foreclosure. Once the decision has been reached about keeping or selling the home, topics are listed in the order of which options are typically least expensive for the homeowner up to those which are more expensive/credit damaging. Links to various resources [...]
Foreclosure Legalese
March 15, 2009 by David Patterson · Leave a Comment
The following section are excerpts from the Arizona Revised Statutes, Title 33, Chapter 6.1 – Deeds of Trusts, which outlines the rules, regulations, and procedures for foreclosure in Arizona. THIS IS NOT LEGAL ADVISE, NOR IS ANTHEMFORECLOSURES.NET EXPRESSING ANY LEGAL OPINION. THIS IS DIRECTLY FROM THE ARIZONA WEBSITE AND IS INTENDED INFORMATIONAL PURPOSES ONLY. PLEASE [...]
What is a Foreclosure?
February 3, 2009 by David Patterson · Leave a Comment
Foreclosure is the legal process in which a bank or other secured creditor sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower called a “mortgage” or “deed of trust”. Commonly, the violation of the mortgage is a default in payment of [...]
Tools for agents: Are you qualified to manage a short sale?
January 5, 2009 by David Patterson · Leave a Comment
You have no business doing a short sale unless… You know what you are doing. And how do you know if you know what you are doing? Well, for starters, make a diligent effort to qualify your competency and knowledge on the subject of short sales by honestly answering the following questions: DEFINITION: Can I [...]
Foreclosure Wiki: The Short Sale Process in Arizona
December 15, 2008 by David Patterson · Leave a Comment
What is a Short Sale? Simply put, a short sale is used to describe the sale of a home in which the homeowner owes the bank more than the home is worth. The bank agrees to allow the home to be sold for less than what is owed (AKA Short Sale). Would I qualify for [...]
Foreclosure Wiki: Before You Buy a Foreclosure Property, Do Your Homework!
November 30, 2008 by David Patterson · Leave a Comment
Online tools allow you to evaluate potential purchases from the comfort of your home By Rick Sharga, Vice President of Marketing for RealtyTrac There are two words that give pause to the most motivated real estate buyer or investor, especially during the busy holiday season: property research. In the past, property research equated to extensive [...]
