how do fourclosure realy work and how much can i realy save?
2006-12-28 11:46:53 · 3 answers · asked by beatriz3330@sbcglobal.net 1 in Business & Finance ➔ Renting & Real Estate
No. The property would probably be auctioned. The starting price or reserve would be probably equal to whatever is owed, but the final price would be a question of how much the bidders are willing to pay. Any amount above the amount owed would revert to the mortgagee.
2006-12-28 11:54:10 · answer #1 · answered by anywherebuttexas 6 · 0⤊ 0⤋
The bid price is a combination of the loan balance, accrued interest, penalties, and attorney fees. What it starts at will be a mystery. Further more, it will be an auction, so the ultimate answer is that it will sell for "fair market value" or the point that the last, best bidder, is willing to pay for it. Best of luck.
2006-12-28 21:58:42 · answer #2 · answered by David 3 · 0⤊ 0⤋
you have to double check with county
check out these foreclosures
http://calihomes.blogspot.com
2006-12-28 20:53:58 · answer #3 · answered by hkjlh h 1 · 0⤊ 0⤋