Comments for Foreclosed Properties Online

Comment on Where are Foreclosures Rates Higher? by Just Plain American

Just Plain American — Mon, 08 Mar 2010 14:07:59 +0000

Because even though the party changed, its still the same ol’ people.

They all are sleeping with the enemy. I pray every night america will wake up one day.

Even though i’m not a real conservative, I have to admit they are sounding right to me all of sudden. They said that the bailouts were wasted money and they wouldn’t help regular people. Guess they were right. At least i’m not any poorer, but I never had the issues that alot of people had. And it seems they are still having them even after trillions are spent.
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Comment on Where are Foreclosures Rates Higher? by Mike

Mike — Mon, 08 Mar 2010 14:05:59 +0000

Foreclosures mostly happen to people who spend liberally or are not willing to work. No bailout should be given because many hardworking Americans pay their bills on time and get shafted when government gives money to unreliable and irresponsible individuals.
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Comment on Where are Foreclosures Rates Higher? by Pat

Pat — Mon, 08 Mar 2010 14:03:59 +0000

Do you REALLY want the government to drop $2 billion out of helicopters into neighborhoods?
Real life is not like your teevee.
Stuff takes time.

Here’s your money:
http://www.hud.gov/news/release.cfm?content=pr09-047.cfm

And by the way, you shouldn’t have bought a house you couldn’t afford.
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Comment on Where are Foreclosures Rates Higher? by joevette

joevette — Mon, 08 Mar 2010 14:01:59 +0000

The banks still have the toxic assets so they will hold the stimulus money to back those assets. If they released all the government money to home owners they would fall right back into the same mess that they were in last fall.
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Comment on Where are Foreclosures Rates Higher? by danrathersatitagain

danrathersatitagain — Mon, 08 Mar 2010 13:59:59 +0000

The bailouts were for the big businesses liberals love to blame. Why more people don’t see this, I’ll never know.
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Comment on Where are Foreclosures Rates Higher? by Linda K Texan for Life

Linda K Texan for Life — Mon, 08 Mar 2010 08:57:19 +0000

Where is the Mortgage bailout? Did the banks forget to bail out the public? Or did the government?
The number of U.S. households on the verge of losing their homes rose 7 percent from June to July, as the escalating foreclosure crisis continued to outpace government efforts to limit the damage.

Foreclosure filings were up 32 percent from the same month last year, RealtyTrac Inc. said Thursday. More than 360,000 households, or one in every 355 homes, received a foreclosure-related notice, such as a notice of default or trustee’s sale. That’s the highest monthly level since the foreclosure-listing firm began publishing the data more than four years ago.

Banks repossessed more than 87,000 homes in July, up from about 79,000 homes a month earlier.

Nevada had the nation’s highest foreclosure rate for the 31st-straight month, followed by California, Arizona, Florida and Utah. Rounding out the top 10 were Idaho, Georgia, Illinois, Colorado and Oregon. Among cities, Las Vegas had the highest rate, followed by the California cities of Stockton and Modesto.

http://news.yahoo.com/s/ap/20090813/ap_on_bi_ge/us_foreclosure_rates

Where did the stimulus money go if not to the people to save foreclosures?
Pat, I don;t have a mortgage. I never spend more than I can afford and I don;t beleive in debt.

I do want to know where the money went since I have to repay it like every person in the USA that pays taxes.

Have you forgotten the debt is now in the trillions? I haven’t.

Comment on Always be Selling, Everything is for Sale by moneymaker

moneymaker — Sun, 28 Feb 2010 13:42:59 +0000

It is still good to have a store, because it is much cheaper per item, but on top of that you have to advertize regular way, but also have a link to your store from EVERY item. That way, when someone finds one of your products, they may add it to a shopping cart, and than go to your store and buy something alse from you at the same time.
References :
http://www.rwkservices.com/Home-Carpet-Cleaning-Cleveland-Ohio.aspx

Comment on Buy Foreclosure Properties at Auction! by JP

JP — Sun, 28 Feb 2010 13:42:59 +0000

If there was ever a judgment on you, the LLC would protect you under such entity or partnership. That’s about its only advantage, but it is substantial. It could also go the other way, if someone was ever to be hurt on your property, you wouldn’t be personally responsible and it would be the LLC that would be in trouble.

See the book below for more information.
References :
Complete Guide to Real Estate Tax Liens and Foreclosure Deeds: Learn in 7 Days

Comment on How to Find a Suitable Foreclosed Home for Sale by The CPA Guy

The CPA Guy — Sun, 28 Feb 2010 13:42:59 +0000

I believe that you’re referring to the tax law that allows for an exclusion of gain for the sale of a person’s PRINCIPAL RESIDENCE (the IRS uses the term "principal residence" instead of "primary residence"). This is available for people who have owned the residence and used the home as their principal residence for at least 2 out of the last 5 years (the ownership and the use tests don’t necessarily have to be done concurrently, and the home doesn’t need to be the principal residence at the time of sale in order for the test requirements to be met).

This provision probably doesn’t apply to you because it is an exclusion of capital gains from the sale of the home, and you are unlikely to have a gain. Whether or not you have a gain is NOT directly related to your mortgage balance. A gain occurs if you sell the townhome for more than the tax basis. (see your tax advisor if you want to know exactly what your tax basis in your townhome is.)

However, if you short sell, the bank is forgiving part of the loan. If the townhome is not your principal residence at the time of the short sale, you will have to pay tax on the debt forgiven. And this applies even if you have owned the home and used the home as your primary residence for at least 2 of the last 5 years. However, if the townhome were your principal residence at the time of a short sale, the debt forgiven by your lender would not be taxable (a $2 million cap is in place, but I don’t think that would apply).

So if you’re thinking about a short sale, it’d be much better if this occurred while you were using the townhome as your principal residence, or any debt forgiven would be taxable.
References :
http://www.irs.gov/individuals/article/0,,id=179414,00.html

Comment on Always be Selling, Everything is for Sale by Jennifer F

Jennifer F — Sun, 28 Feb 2010 13:40:59 +0000

I would go back to the regular ebay style… my brother-in-law did exaclty what you have done and got the exact same results… You need to sit down and figure the cost differential. Paying a bit more on fees and selling more items versuses reducing your fees but selling less..
~good luck~
~jennifer
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