Lenders: Will not initiate foreclosure proceedings. These are the views that may be derived from governmental data and other credible new reports. Submit your questions and comments here! Where applicable, prices are exclusive of. (Hint: A lot of them are bad), We have stopped brokering foreclosed properties. The list may not be complete, as state and local governments continue to adopt new emergency measures at a fast pace. And that is just the tip of the iceberg, as an estimated six million folks missed their mortgage or rent payment in September. Unfortunately, there will be a few that do end up in foreclosure, which explains why you will find these properties on this list. Your state's housing agency might have a foreclosure avoidance program as well. © 2020 The Carol Group, Ltd. All rights reserved, WAVE OF MORTGAGE FORECLOSURES IS ON THE WAY.
New York's Cooperative and Condominium Community. Wed, Oct 28th 2020. You didn't need me to tell you any of that. While we are accredited licensed real estate brokers with BDO, we are posting this as a form of public service to our readers and subscribers. If that loan servicer changes, you will receive a separate notice.

Last Updated: The U.S. Department of Housing and Urban Development’s Office of Housing Counseling can connect you with local HUD-approved counselors. Just over 5 million homeowners missed or deferred at least one mortgage payment during the second quarter of this year, as the first wave of the coronavirus pandemic was hitting its peak. Note: If your target property is under promo, you can submit an offer up to 20% below the listed price. If you are faced with either owning a heavily-leveraged 30-story office building or a truckload of turnips, take the turnips. a. Contact BDO directly to get more property details, 6. Also be aware of these tricks that scammers use: After a foreclosure, you can begin taking steps to get yourself and your family moving forward to new housing and revitalizing your credit. You can also check the Fannie Mae loan lookup and the Freddie Mac loan lookup to see if either one owns or backs your mortgage. MHA has a hotline you can call anytime: 1-888-995-HOPE (1-888-995-4673) and TTY users should call 1-877-304-9709. During that time, homeowners: Will not be charged late fees. Beware of mortgage relief scams. All offers are subject to Management approval. Do not stop paying your bills, and do not wait until you cannot make payments before you act.

A tsunami of foreclosures is just months away.

This will exacerbate an already bad situation; again, just like it did in 2008. It now continues until August 31, 2020. Refer to their contact details below. If your offer was not approved, your reservation fee will be returned to you. Learn more about how to talk to your lender about trouble making payments.

If you are looking for foreclosed properties from big developers like SMDC (SM’s property arm), Ayala Land, DMCI, etc., it’s easy to spot a significant number in this list. Based on our past transactions with BDO, here’s a quick overview of the buying process via negotiated sale: Browse through the list and Identify properties you are interested in. When the tsunami of foreclosures finally hits the markets, prices are going to plummet again ⸺ just like they did in the 2008 crash ⸺ and many folks nationwide are going to find themselves once again in a negative equity situation where it makes more sense for them to simply hand the keys to the bank than it does to continue making payments. Tue, Oct 27th 2020. Consumers and their advocates should carefully […] Despite a massive spike in unemployment and a historic gross domestic product (GDP) drop in the second quarter of 2020, the current economic crisis is unlikely to lead to a massive wave of foreclosures, according to Odeta Kushi, the deputy first economist at First American. A total of 864 BDO foreclosed properties are available for negotiated sale in this nationwide list, updated for October 2020.
It is a disaster.


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