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Rasputin
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Username: Rasputin

Post Number: 5951
Registered: 02-2008
Posted From: 192.146.101.24

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Posted on Thursday, August 20, 2009 - 04:11 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

http://www.bankreorealestate.com/bank-reo-list

Some of the links given here might not work. But, you get the idea. Bank website ki velli REO ani search cheyyandi.

Another way to track it is, check your county commissioner's auctions. Maa commissioner's website (www.faycom.info) lo anni details peduthaadu. Past sales lo evaru konnaaru ani. Ikkada Plaintiff/Bank konna homes list choosi, aa bank ki email/call chesi adagadame. Sometimes they will re-direct you to a real estate agent who is working with the bank.
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Machomegastar
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Username: Machomegastar

Post Number: 2636
Registered: 02-2008
Posted From: 208.105.1.254

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Posted on Thursday, August 20, 2009 - 04:11 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Mrhyderabad:

In most of the cases, you won't get to see the actual property or talk to property owner directly.

You have to spend money to research on Title which might prove costly when you are searching multiple homes.

Also heard that, in some cases.. old owners will be given an option to buy the house back in 2 years time if they can arrange for the money. You must sell it back. Not sure how far it is true.




gotcha!!
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Neel
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Username: Neel

Post Number: 3605
Registered: 07-2008
Posted From: 75.57.200.172

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Posted on Thursday, August 20, 2009 - 04:11 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Truelies:




it all depends on the sub division where you live
Iam saying general rule
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Truelies
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Username: Truelies

Post Number: 2676
Registered: 03-2008
Posted From: 74.237.6.152

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Posted on Thursday, August 20, 2009 - 04:08 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Neel:

if you can afford independent allways go for independent house




who siad there won't be any monthly maintenance for ind homes..?? nenu $225 per quarter kaduthunna for maintenance...plus lawn maintenance etc etc...
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Neel
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Username: Neel

Post Number: 3603
Registered: 07-2008
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Posted on Thursday, August 20, 2009 - 04:06 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Cylonesubbarao:

townhouses




townhouse ante malli monthly maintaenance kattali kada Rao Garu
if both are working if you cant mow your lawn and clean the snow
if you hire someone it wont cost as your monthly maintainance
some townhomes management take care of plumbing and electric repairs
if you cant fix minor things and dont want the hassle go for town home
if you need more space go for independent house

if you can afford independent allways go for independent house
it is easy to sell independent rather than a town home.
bottom line it all depends on individual choice anukondi
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Rasputin
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Username: Rasputin

Post Number: 5950
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Posted From: 192.146.101.24

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Posted on Thursday, August 20, 2009 - 04:06 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Mrhyderabad:

buy the house back in 2 years time


This varies from state to state. KY lo ayithe one year redemption period, that too only if the sale price is less than 2/3rds of the appraised value.
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Rasputin
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Username: Rasputin

Post Number: 5949
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Posted on Thursday, August 20, 2009 - 04:04 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Bank Owned homes ayithe less-headache, when compared to short pre-foreclosures. Bank owned ayithe valle evict chesthaaru.

Direct gaa bank websites lo vethakochu, leda call cheyyochu.

websites lo paid membership teesukundaamani anukunnaa kaani it seems that they have very outdated information.

Check HomePath.com (free Fannie Mae website) for homes owned by Fannie Mae. Don't know about Freddy.

For bank of america, I think it is bankofamerica.reo.com
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Mrhyderabad
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Username: Mrhyderabad

Post Number: 3018
Registered: 01-2008
Posted From: 167.230.38.118

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Posted on Thursday, August 20, 2009 - 04:03 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Machomegastar:

why it is risky mama!!




In most of the cases, you won't get to see the actual property or talk to property owner directly.

You have to spend money to research on Title which might prove costly when you are searching multiple homes.

Also heard that, in some cases.. old owners will be given an option to buy the house back in 2 years time if they can arrange for the money. You must sell it back. Not sure how far it is true.
If god doesn't like the way I live, let him tell me, not you
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Machomegastar
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Username: Machomegastar

Post Number: 2632
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Posted From: 208.105.1.254

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Posted on Thursday, August 20, 2009 - 04:00 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Risingstar:

idhemi country raa naayana... antee aa tax benefit kosam thappanisariga loan theesukuni tax kattandi ani oka rakamga force cheyyatam public ni.. public payoff sesi pesanathamga undatam istam lenattundi




even india lo kooda same concept mama!!
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Cylonesubbarao
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Username: Cylonesubbarao

Post Number: 11930
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Posted From: 170.61.18.228

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Posted on Thursday, August 20, 2009 - 03:58 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Simba:

Konni states lo property taxes are tax-exempted.


Naaku telisi anni states ani anukuntunna.

Neel cheppina points are the main things to consider. Also Roofing replacement is needed only for an independent home... townhouses ki ayite mana meeda padadhu.

Anything older by 14-15 years ante I will never recommend... but thats again my personal opinion.

Simba, Neeku school districts anni ante... East Windsor best ani anukuntunna.
You must be the change you wish to see in the world
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Risingstar
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Username: Risingstar

Post Number: 9902
Registered: 08-2008
Posted From: 98.225.186.112

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Posted on Thursday, August 20, 2009 - 03:57 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

idhemi country raa naayana... antee aa tax benefit kosam thappanisariga loan theesukuni tax kattandi ani oka rakamga force cheyyatam public ni.. public payoff sesi pesanathamga undatam istam lenattundi
Now everybody using Colour Paper & Colour TV in the House
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Humpty_dumpty
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Username: Humpty_dumpty

Post Number: 2822
Registered: 02-2009
Posted From: 38.117.247.14

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Posted on Thursday, August 20, 2009 - 03:56 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Risingstar:

antee manam mottam payoff chesthe undadha?


tax break is on interest...mortgage kattadam tho you are contributing to the money cycle...full amount kadithay govt oka brahmi athadu smile isthundi max...there is no need for them to give tax breaks on full payment...

as simba said some states will allow property tax breaks...

america lo chala mandhi ( middle class to upper middle class whites) illu konaydhee tax break and future investment kee
Why so Serious?
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Machomegastar
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Username: Machomegastar

Post Number: 2630
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Posted on Thursday, August 20, 2009 - 03:56 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Mrhyderabad:

Even though they are very tempting to buy, it is very risky to buy a fore closure homes. otherwise mana desis anta already ade pani lo vundevallu




why it is risky mama!!
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Neel
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Username: Neel

Post Number: 3600
Registered: 07-2008
Posted From: 75.57.200.172

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Posted on Thursday, August 20, 2009 - 03:56 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Risingstar:




on property tax you get some money back

Obama new law
$8,000 first-time home buyers tax credit to help cover their downpayment and closing costs on FHA-insured mortgages
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Mrhyderabad
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Username: Mrhyderabad

Post Number: 3016
Registered: 01-2008
Posted From: 167.230.38.118

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Posted on Thursday, August 20, 2009 - 03:55 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Simba:

Central to North Jersey.


Somerset/Franklin TWP move avvandi Recent gaa national top living county lo 5th place kuda vachindi
If god doesn't like the way I live, let him tell me, not you
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Machomegastar
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Post Number: 2628
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Risingstar:

neel, how are yaa?

naaku artham kani vishayam okati..ippudu house ki manam full payment chesi konukkuntee tax deduction raadha? like my friend bought a house and he will pay around 6k for school taxes and he said he will get the money back since he is paying mortgage. antee manam mottam payoff chesthe undadha? how does it work?




interest kadithe tax refund vasatdi , if you dont pany any interest radu

but you can still get some refund as you pay property taxes every month for hosue
so here interest + propery taxex cab be tax deductible
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Mrhyderabad
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Username: Mrhyderabad

Post Number: 3015
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Posted on Thursday, August 20, 2009 - 03:54 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Mee local muncipal office lo edo sub division vuntundi. IF you pay some nominal fees they will give you the list ani vinna.

Even though they are very tempting to buy, it is very risky to buy a fore closure homes. otherwise mana desis anta already ade pani lo vundevallu
If god doesn't like the way I live, let him tell me, not you
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Simba
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Username: Simba

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Posted From: 206.210.17.33

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Posted on Thursday, August 20, 2009 - 03:53 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Risingstar:

naaku artham kani vishayam okati..ippudu house ki manam full payment chesi konukkuntee tax deduction raadha? like my friend bought a house and he will pay around 6k for school taxes and he said he will get the money back since he is paying mortgage
. antee manam mottam payoff chesthe undadha? how does it work?




Mortgage lo interest part is tax-deductible. Oka vela motham payoff cheste, there is no mortgage, hence no tax cut. Konni states lo property taxes are tax-exempted. Aa states lo, you get some money back from state when you file tax returns.
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Risingstar
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Post Number: 9897
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Posted on Thursday, August 20, 2009 - 03:49 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

neel, how are yaa?

naaku artham kani vishayam okati..ippudu house ki manam full payment chesi konukkuntee tax deduction raadha? like my friend bought a house and he will pay around 6k for school taxes and he said he will get the money back since he is paying mortgage. antee manam mottam payoff chesthe undadha? how does it work?
Now everybody using Colour Paper & Colour TV in the House
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Neel
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Username: Neel

Post Number: 3596
Registered: 07-2008
Posted From: 75.57.200.172

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Posted on Thursday, August 20, 2009 - 03:41 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Simba:




There are 3 types of homes in this housing market now

1.Bank Owned(some banks list thru realtor in MLS - multiple listing service)
2.Short sale by owner
3.Foreclosure thru realtor

if the home is 8 years or less usually you wont have any major problems.
if above 10 or 12 years - roof needs to be replaced I mean new shingles major investment
then Air conditioning and Heating, water heater appliances
it all depends how the previous owner maintained.

If you have un finished basement you have to look for major cracks or water leakage

if the basement is finished you have to look for battery back up

so like this list goes on and on

but bottom line is if you have money its the right time to buy and invest and rent them out and once the market gets better after few years you can make money
but you have to have a Handy Man to take care of the minor repairs if you are renting.

If the home is for yourself also its the right time to buy.
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Time_pass
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Username: Time_pass

Post Number: 1304
Registered: 06-2008
Posted From: 136.174.187.10

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Posted on Thursday, August 20, 2009 - 03:36 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Realtors ki telus tai
so vallni pettukonte try chey vachhu

Bank is still involved iyithe conditional agreement raaya vachhu
like if damages exceed certain amount nuvvu drop ani

its not easy, but you may find some good bargains
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Simba
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Username: Simba

Post Number: 629
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Posted From: 206.210.27.33

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Posted on Thursday, August 20, 2009 - 03:35 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Cylonesubbarao:

Simba, Nuvvu ye area choosthunnavu brother?




Central to North Jersey.

Schools - Price - Commute to NYC

Out of the three factors above, I can find homes favoring only two factors. Prastutham own house undhi, but bigger house ki upgrade plan...
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Simba
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Username: Simba

Post Number: 628
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Posted on Thursday, August 20, 2009 - 03:32 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Neel:



Thanks Neel... I know there is risk involved in committing for a home without an inspection. I am actually looking for new homes that go into pre-foreclosure. But, most of the times, the builder takes the house back and sells for a discount.

I read somewhere that you can contact banks to get free listing of homes, up for foreclosure.
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Cylonesubbarao
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Username: Cylonesubbarao

Post Number: 11915
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Posted From: 170.61.18.228

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Posted on Thursday, August 20, 2009 - 03:28 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Simba, Nuvvu ye area choosthunnavu brother?
You must be the change you wish to see in the world
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Neel
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Username: Neel

Post Number: 3595
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Posted on Thursday, August 20, 2009 - 03:24 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)


Simba:




I dont think some foreclosures home will allow home inspection after you write a contract.
If the home is fine no problems its ok but if there are any faults or repairs
you would only know after you move in.
you got to look at the age of the home. But invisible things you cant tell
are you a first time buyer

You dont need to take membership for foreclosure homes
there are plenty of websites
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Rebel
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Posted on Thursday, August 20, 2009 - 03:20 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

rasp tamud soosinatu unadu...
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Simba
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Username: Simba

Post Number: 627
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Posted on Thursday, August 20, 2009 - 03:19 pm:   Insert Quote Edit PostDelete PostPrint Post   Move Post (Moderator/Admin Only)Ban Poster IP (Moderator/Admin only)

Ee fore-closure homes listing ekkada dhorukuthundi? Chaala websites lo paid membership theesukonte, details istam antunnaru? Evaraina ee fore-closure ki vacchina houses choosara? What are the risks involved?

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