South Florida - Condo Foreclosures, Residential Foreclosures in Miami Dade and Broward County


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AUGUSTIN LEON VELARDE

New Foreclosure REO In Shenandoah — Davie, Florida

Tell me is it an REO (Bank Real Estate Owned) or an REO (Real Exclusive Opportunity);  it has lots of both.  Run.  If you walk, this opportunity will be history.
Your new home is seated in Wedgewood Cove in  Davie, Florida on 14060 Oak Ridge Drive,  within the most sought-after community of Shenandoah — close to Davie Park with a multitude [...]

Authored by Vicente A. Leon Velarde, P.A. | Please Leave A Comment »

Vicki Restivo

“Deed For Lease” – Alternative to Foreclosure

 
As an alternative to foreclosure,  Fannie Mae will now (as of November 2009) allow homeowners (who qualify!) to remain in their homes,  renting,  as tenants… for a year.    Month by month extensions are an option (although not  guaranteed) after the first year. 
The government program is called “Deed For Lease“.  In exchange for transfering title over to Fannie Mae,  the  homeowner  (who [...]

Authored by Vicki Restivo | Please Leave A Comment »

Alexandra Restivo

Deed-in-Lieu

There are many questions surrounding the deed-in-lieu of foreclosure, so here are some answers.
A deed-in-lieu of means that the borrower conveys all interest to the lender in order to satisfy the loan that’s in default and avoid foreclosure. This process is advantageous to the borrower because it releases them from the indebtedness associated with the loan, [...]

Authored by Alexandra Restivo | Please Leave A Comment »

Gael Didloff

BEST DEAL IN WEST SUNRISE-ACT NOW

 

Don’t miss out on  this BANKOWNED home of over 1700 sq.ft. Has 4 bedrooms, 2 bathrooms a pool and is fully fenced. The BEST DEAL in the sub-division at less than a $100 per sq. ft.  WILL NOT LAST!!!!.  Contact me to make your offer as soon as possible.

Authored by Gael Gwendolene Didloff | Please Leave A Comment »

Michael P. Schnabel, CIPS, REOS, GRI, TRC

Good news for homeowners facing foreclosure!

Fannie Mae just released a new policy named “Deed for Lease Program” under which thousands of homeowners that are facing foreclosure will have the opportunity to remain in their homes as tenants.
Under the ”Deed for Lease” program, borrowers can transfer ownership to Fannie Mae and sign a one-year lease, with month-to-month extensions after that.
If you have [...]

Authored by Michael P. Schnabel | Please Leave A Comment »

Susan J Penn, PA

New Luxury Upgraded 6/6 pool foreclosure for Davie Buyer $950,000

Davie Foreclosure property where you can live like royalty!

6 Bedrooms

6  Bathrooms
1.3 Acres
marble & wood flooring
Oversized pool
4 car garage
Updated kitchen and bathrooms!
This is a truly amazing luxury foreclosure ready for a Davie, Florida  buyer. Just listed on 10/26/2009,  Call Susan Penn, EWM Realtor at 954-557-5993 for an appointment today!

Authored by Susan Penn | Please Leave A Comment »

Victor Mills

Foreclosures in Pinecrest, Palmetto Bay and Cutler Bay

Home values have been affected by foreclosures. Unless you’ve been on an extended vacation to Mars, you’re fully aware of this by now. You’re probably also aware that a housing recovery may not be a steady return. It’ll more than likely take a winding road back.
Here’s some current facts regarding foreclosures in the Village of Pinecrest, the Village of Palmetto Bay and Cutler [...]

Authored by Victor Mills | Please Leave A Comment »

rileysmith

Foreclosure On Le Jeune Road Finally Sells

I wrote about this foreclosure in South Coconut Grove several times on my blog.  I knew the home very well because I had many clients who were interested in buying it and one client who made an offer on it.  Initially it was priced at $534,000 which was too high (due to the fact that [...]

Authored by Riley Smith | Please Leave A Comment »

Ines Garcia

Myths and Reality of Foreclosures Sold in Weston, Pembroke Pines-Miramar Florida

Single Family Homes Foreclosure Sales in Numbers
In my personal Facebook account I have no idea how many of my friends are fellow Real Estate agents, but I can tell you that MANY. Yesterday the following Video kept coming and I couldn’t resist the temptation to share it with you. At the beginning I had second thoughts [...]

Authored by Ines Garcia | Please Leave A Comment »

rileysmith

Buying a Foreclosure…Too Funny, A Must Watch!

Thanks to Kris and Steve Berg of The San Diego Home Blog for putting this together!

Authored by Riley Smith | Please Leave A Comment »

Foreclosures by City

Foreclosure Frequently Asked Questions

What is a foreclosure?

As defined by WikipediaForeclosure is the legal process in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable 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 a promissory note, secured by a lien on the property. When the process is complete, the lender can sell the property and keep the proceeds to pay off its mortgage and any legal costs, and it is typically said that "the lender has foreclosed its mortgage or lien".

Where do I find foreclosed properties?

You can search for all pre-foreclosed and foreclosed properties that are listed in the MLS on EWM’s foreclosure search page

Is buying a foreclosure just like any other property?

The procedure for buying a foreclosure that is listed in the Multiple Listing Service is much the same as any other property. The seller is typically a bank or a third party company that the bank has designated to handle their foreclosures. But here are a few differences you may encounter:

Most foreclosures will require that you close within 30 days. Most foreclosures are sold in as is condition. Property inspections are of particular importance in a foreclosure sale. Many times the previous owner has removed fixtures or left the property in some state of disrepair.

Your offer may take some time to get a response. Since you are dealing with an absentee owner, your offer may take some time to be accepted or counter-offered and the response may be verbal. Some offers may require an approval from a higher source before it can be expected. The best way to proceed in making an offer is to make your contract as straightforward as possible.

Some foreclosures may be done on special contract forms or require special addenda. Ask for samples of these forms when you see the property so that you will be prepared when you make your offer.

Many foreclosures will ask for your financing information prior to accepting the offer.

Read more....