Note: The names have not been changed, as neither party is innocent.
Terry and Diane Visser lived in Blaine, Washington and had a habit of buying homes as investment properties. They bought one of these “fixer-uppers” as an investment back in 2005.
After acquiring the property and beginning their renovations, they realized Continue reading “An Obvious Defense, Overlooked By Many. By Jen Hudson”
The following is taken (well… almost) directly from Ed McFerran, McFerran Law, P.S. (253) 284-3838 or www.mcferranlaw.com. He knows a lot of stuff.
First, you’re probably thinking to yourself… “Jen, we’re waaay past this whole recession thing. Why are you talking about debt forgiveness? Continue reading “Straight Talk About “Forgiveness.” No, not the kind of forgiveness at church. I mean the tax burden kind.”
You know when you run across those feel good moments and you realize why you’re really doing something? Recently, I had one of those moments again, and it made my day.
A couple months ago, I had a client call me. To protect the innocent, let’s call him Joe. The walls were closing in on him, and he had just gotten Continue reading “When the Walls are Closing In (based on a true story). By Jen Hudson.”
Let me tell you a story. Continue reading “Tired of Treading Water? (Based on a True Story.) By Jen Hudson”
Real Estate is all about supply and demand. In my area, almost all short sales and foreclosures are listed through our multiple listing service. These homes are available on the market, just like all the other homes in the area. Good investors do not like to get caught in bidding wars. That defeats the purpose and the good deal usually goes right out the window.
If that property has not sold under the normal market conditions, what makes you think you are getting a good deal at the auction? Continue reading “Understanding Foreclosures: supply & demand (Part 1)”
There is a misconception out there. Many beginning investors and homebuyers automatically think foreclosures are a good deal. Unfortunately, I’m here to tell you they rarely live up to the “hype” and they are certainly not easy.
Sellers who go into foreclosure will stop making payments for a variety of reasons. Continue reading “Understanding Foreclosures: Buying Foreclosure (Part 2)”
If you are considering buying a property at a tax foreclosure auction, there are many RISKS you should be aware of. Remember, auctions are BUYER BEWARE sales. I can’t stress that enough. The County will make no representation about anything regarding that property, so it’s up to you to deal with the issues and do your homework.
There are different types of foreclosures. The type I’ll address here are tax foreclosure sales in Washington State, specifically Snohomish County. Continue reading “Understanding Foreclosures: How Long? (Part 3)”
So, what are some of the issues that you need to address before finding a suitable investment? Continue reading “Understanding Foreclosures: Do Your Research! (Part 4)”
| Here’s one of the more recent questions from the Washington Association of REALTORS® legal hotline. The deficiency judgment seems to be a hot topic again lately.. and another reason why you should seek an experienced agent for your short sale situation. QUESTION: |
| When can a lender take a deficiency judgment against a seller and, conversely, when is a lender prohibited from taking a deficiency judgment? Continue reading “Deficiency Judgments, Foreclosures & Short Sales” |
Here’s a great tidbit from the Washington Association of REALTORS® legal hotline regarding federal laws, tenants & foreclosures….
Question:
Are there state and/or federal laws affecting tenant occupancy of rental property after a foreclosure sale? Continue reading “Federal Laws, Tenant Occupancy & Foreclosures”