FORECLOSURE!Home could be used a couple ways: two rentals (2/2 up, 1/1 down), or mother-n-law/teenager qtrs down.Previous owners put some really quality products in the home, just never hit the finish line. Granite counters, bead board walls, t&g walls, ss appliances, C H&A, beautiful stone fp, slate counter in bath & more. Location is great 1/4 mile from SM Elem and 1.12 unrest. flat and usable acres. Paved to the front door, don’t miss your opp. in a good deal.Home appraised 119k end of May.

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I have been renting this property for about 3 years and 6 months. It is up for foreclosure sale and I would like to know what do I need to file?

Nothing. You are not involved.

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David and Amber tour a house in north-eastern part of Scottsdale, AZ, that was bought at a trustee auction and pending resale.

Visit our blog at http://www.AmberAndDavid.com for more updates from David and Amber.

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Another awesome Arizona investment property from www.kleverINVESTORproperties.com. This wholesale house is being sold at a BID discount. Located near the University Of Phoenix stadium in Glendale and has many upgrades already made. Needs maybe 5-6K worth of clean-up / pool repair and it is rental ready. Homes in this area rent around $1000 – $1100 a month. This one will go fast since it is being sold at $56,000. Call 480-374-5176 or visit our website www.kleverINVESTORproperties.com for details.

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Who can tell me what will happen in a foreclosure situation like below?

What happens if I let my house go back to the bank, and the foreclosure sale doesn’t bring what is owed on the house? Am I liable for anything else?

I’m in danger of going into foreclosure due to a high house payment. I filed Chapter 7 almost 4 years ago and re-affirmed my house.

If a foreclosure sale doesn’t get what is still owed, will I have to pay anything else??

If you’re definitely letting your house going back to the bank, do call them up and request for a Deed-in-Lieu. All terms on how it’ll move forward will be in writing; whether you owe the difference or just a small amount or you’ll waived from all payment.

You may be better off getting a loan modification if you still want to keep the house; or a Short Sale. Whatever you intent on doing moving fwd, I suggest you at least inquire the info from your lender first. If you want to read up on your state’s foreclosure info, go to www.hud.gov or your state’s website and search for "foreclosure."

my home went to bank foreclosure in 2010, ive been waiting for a letter of eviction for a year now and nothing…i just recently recieved lettters of tax foreclosure sale if not paid by march 2012. should i pay the taxes and stay there or try to buy it at the tax sale or what? i’m lost and afraid of what to do

If you can afford it, have someone go to the tax sale and buy it for you. You then buy it from them for a small profit (to make it worth their time), and in most states you’ll have a house clear of all encumbrances (including the mortgage).

If you don’t have the money to ensure you could outbid others for the house (it will be an auction) at the tax sale, then pay the taxes to stay as long as you can. Meantime, find an investor who will buy the house from the bank and let you rent it, preferably with an option to own.