3
votes
2answers
826 views

How do banks lose money on foreclosures?

I read that when banks give out a mortgage the bank itself doesn't actually lend any of its money out. It is just accounting that adds the money to the borrowers account and adds the same amount of ...
2
votes
1answer
60 views

Is a trustee sale winning bid all inclusive, or are prorated taxes & fees due?

Is my winning bid at a trustee sale on a foreclosed home all inclusive, or can the trustee make us pay prorated taxes and home owner association fees? If we must pay the fees, when would they be ...
2
votes
1answer
127 views

In a foreclosing Arizona home, can the bank or anyone hired by the bank access the home's interior premises without permission?

I am residing in an Arizona home that is being foreclosed upon, until the sale confirmation. Does the bank have any right to demand or assume rights to access the interior of my home while I am living ...
5
votes
1answer
136 views

HAFA: Missed 14 Day Response Window — Am i SOL now?

I have started the short sale process with Bank of America and I am going through the federal program HAFA. I initiated the process but delayed submitting documentation longer than the mandated 14 ...
7
votes
3answers
125 views

How uniform is the decline in US property prices?

Obviously because of the global financial crisis, I've been hearing a lot about the US property market crash. I have a feeling something similar is waiting to happen in Australia so I would like to do ...
6
votes
2answers
2k views

If a house is in foreclosure what does the bank own vs what the former owner owns

So we were having a discussion about what we would all do if we were unfortunate enough to have our homes go into foreclosure. I asserted that all the appliances and even window blinds would still be ...
5
votes
1answer
650 views

How would one find foreclosures in Canada, Newfoundland?

I am starting to look for a new home, and am wondering how one would find foreclosure in Newfoundland.