PropertiesMagazine.com Real Estate Blog

Mr. Stone asked:


I’m selling a house and I have conflicting information on what the real estate commission should be. It varies from 4-6% depending on who you ask.

LoveMyKids! asked:


My friend is letting her house go to foreclosure & will need to rent an apartment. She is currently only 30 days delinquent. How do apartment management companies view foreclosures? Should she apply for an apartment now, knowing that she will not move in for a couple of months?

*** Please note that I am not looking for advice on how to keep the home or to get her out of the foreclosure. All options have been considered. Please give advice on how to proceed to obtaining her next housing. Thanks!

Annie P asked:


We live in Hawaii and our mortgage has become unmanageable. We just found out our house is worth 64k less than we owe. We have good credit though are overextended because of mortgage. No defaults and one 30 day late pay. We want to sell but do not have the credit left to get a 64k loan to pay off the rest of the loan. We desperately do not want to go into foreclosure. Any options anyone is aware of?

tjknapke asked:


Our friends’ neighbor is going to foreclose on his house (he has been gone for almost 2 months and already has skipped town). It is early in the foreclosure process because he just received his 2nd notice a few days ago. My girlfriend and I would like to buy the house because we think we can get a good deal on it and were wondering how long until this property hits the market as “lender owned”?

Also, would we get a better deal by inquiring about the house now or if we waited until it was lender owned?

chickeninca asked:


My landlord went to foreclosure without evicting us. The bank tried to auction the house today, but got no bids. The title reverted to the bank. What can I expect to happen next? I worry about coming home to find the locks changed, all our stuff seized. The landlord won’t take any calls and hasn’t for a month. What about our security deposit? Don’t I have to be given an eviction notice, or am I just out of luck?

River C asked:


I am thinking of getting a CA real estate license. I have never worked in real estate. I live in the Silicon Valley (bay area) of California. I am looking for a cheap and fast way of getting a license. I prefer taking real classes (instead of online classes). Please tell me who in San Jose area is giving these classes for cheap and when. I have time in June and July to take classes. I want to have my independent license, so that I can decide who I work for after I get the license.

blavelin asked:


A property that I am a co-signer on is going into foreclosure. In a question I asked previously regarding this matter, someone pointed out that I will be sent a 1099-c form. What exactly does this mean? If the house is sold at auction will I owe taxes on the amount the house sells for or the amount that was owed or, if the house does not sell for enough, will I owe taxes on the amount not paid?

If we can sell the house before the foreclosure is complete, how does that impact the situation? I’m so confused.

And please, no posts about your tax or loan company. I will report it as abuse.

Missy asked:


My last payment was Jan. 15; but it seems the clock started ticking when I missed my payment on Feb. 15.

Chase and Countrywide (primary and HELOC lenders) are telling me that the foreclosure begins on May 15, the three-month mark, if I’m understanding them correctly.

But what I want to know is, when would the foreclosure be done with?