We are putting an offer on a bank repo house tomorrow, if they accept our offer, how long does it take to close and have the keys in our hands? I know we had to have proof of funds to go along with the offer.

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I am interested in getting a repo house and have been looking at a lot of them my question is do you have the pay the remaining amount due on a repo house upfront or do you get signed up for finance? is there a way that I can get a loan so i can make monthly payments instead of having to get the whole amount due up front?

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I live in Kansas. The house is in Kansas and the listing agent is saying that we will be sued by the repo bank for not going through with this. The FHA apprasal didn’t pass twice. We had to work on it ourselves to make it pass and it wasn’t ours yet. We just don’t want the house anymore. Can we be sued?

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if they come to your house to repo your car, but your not home, and the car is no where to be found, when will they come back?

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I’m interested in buying a Repo (in the banks possession) but have never bought a house this way and was wondering what the best way to go about it is. The asking price for the house is $406,000 which is around market value, but the house is in disarray and would need all new carpet, new paint, and some drywall work and replacing of fixtures. I’m tempted to just put in a lowball offer but think it might be helpful if I knew what amount of money the bank is trying to recover, what repo fees they want to recover, and what the real estate agent who is selling the house expects to make as commission so I can make the lowest offer possible without getting blown off. Any suggestions on how to proceed?

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looked at a bank owned repo house in crap shape huge lot of land previous owner left it in a massive mess. the bank is asking 99500
my realitor said offer them 50,000 and work from there House needs ton of work in the tune of thousands whatta I do?

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I am planning on buying a bank repo house. Do I need a real estate agent or can I just go to the bank and buy the repo house through them?

If I buy the house directly from the bank, will I save on commissions because Im dealing directly with the bank or there is not such a thing?

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I’ve just got a letter telling me the date of a possession hearing. Very complicated situation basically. I am a carer for my mother (shes autistic) and i am 19. I was named as the tenant of where we are currently living last year (although i am now unsure how this could have happened because i was full time at college and had no income whatsoever, not from a job or benefits). My mum claims Disabilty Living Allowance and Income support i think.
Then we are supposed to get housing benefit and because i was put as the named tenant this also had to be put into my name. I’m really confused as to why but basically this was stopped some time ago, i tried to sort it out (at the time i had a care worker who was helping me deal with money and house matters as i had-and still have-no clue, but she recently ended our contract which i am also unsure about).
Anyway i thought the housing benefit was sorted, apparently it was not, so we are in arrears with rent and ALSO the housing benefit people are saying they overpaid “me”. I think this is because my mother was not getting child tax for me?? Which i have since been told she could claim and if she did this would cancel out the “overpayment”.

I am feeling completely stressed at the moment. I cant go and tell my mum about the possesion hearing i have just found out about because she will completely freak out, seriously it is just not an option. I dont have anyone to help me with this or tell me what to do.

To be honest i’m not even sure what a possesion order is, i THINK its when they evict us but surely that would be REpossession?? Will they come and take our belongings?? Because we have nothing of value really and i dont think we can afford to pay back this arrears either.

I really need some help/advice pleease.
Thanks.
Also i’ve been told i will get a bad credit rating if all this goes ahead (although i may be wrong, i might already have one). I really want to avoid this, i just feel its a bit unfair when it’s not technically MY debt, i have tried to many times to sort things with them but *I* am not the one in control of the money so i dont see what i can do when my mum believes we should not have to pay. Its easy for her to say that when its not her name getting damaged! >:(
Sorry. Stresssseeeedddd……….

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We are looking for a sub prime loan for our first house. Our credit is awful but clear of any bankruptcy or repossessions. I know all about the collapse of the sub prime market but am wondering if anyone has any suggestions on where I should look. There are tons of so called “lenders” out there and I am hopeful that somebody can help us steer through all the junk lenders and find a legetimate one. We only have about 5 thousand to put down but live in an area where the average house is about 60 grand. (oscoda, Michigan) Thanks

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and I have a repossession on my credit report, what are the chances of being able to buy a house ($130,000)?
Are the interest going to be super high since my credit not so good?

Thanks, best good answer 10 points for your time.

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