Neighbors home Forclosure

Foreclosures, Short Sales, Tax Foreclosures
1

I found out just 1 hour ago today that my neighbor’s home has gone into foreclosure. I am new to REI and all of this happened under my nose without my knowing. I checked the public records on this and the bank foreclosed on the property 2-14-07. A public auction was held on 4-11-07. I am assuming however, that no one may have bought the property. I have not seen a new any work being done to the house and the public records do not show a transfer of Deed to a new owner. However, this information may simply have not been updated on the County’s website.

Here is some information about the home.

The home’s appraised value is $198,510 . Zillow places the market value at $263,353, Value Range: $234,384 - $316,024. I can only describe its current condition as FAIR. I have only seen it from the outside. The roof seems fine. The paint on the exterior is ok. It needs some landscaping work, but it’s a relatively small lawn. It may have 2 or 3 bedrooms, and 1 or 2 baths judging by its size, and similar model homes I have been inside in this neighborhood. It has a pool.

Please let me know what other information I can provide that would be helpful in advising me.

I have a MULTITUDE of questions to ask you experienced REI’s I am not even sure where to start so ill just jump into it and get started with eh most basic question.

How can I find out who owns the home right now? I expect the Bank does, but I need to be sure in order to have any clue how to proceed.

PLEASE ADVISE.

2

Find out the name of the bank from the sherriff’s sale records.

Call them and ask.

3

The name of the bank is U S BANK NATIONAL ASSN.

I have never heard of this bank before.

4

Have you not heard of google.com?

US Bank web site: http://www.usbank.com/

REO listings: https://customercare.fnfismd.com/usbankhomemortgage/reo/reoReport.asp

5

I asked a realtor about the property and he replied with this.

“That property is no longer on the market. It went into “Withdrawn” status on 4/25/07.”

Is there anything else I can do here?

6

Ask the realtor if the bank withdrew it, could be the property is under contract right now.

7

it was withdrawn??
what does that mean… it was prob. listed 4 sale by realtor, not sold then the bank foreclosed and it was withdrawn … from the mls !!
go to the county courthose foreclosure clerk . they can tell you who bought it , if anyone actually did… but prob. the bank took it back for mortgage balance.
they will then try to sell it for full mkt value
dont wast your time if that is the case