how long does the foreclosure process normally takes?

My exhusband and I went through the process of a short sell on our house to avoid foreclosure. Does this look the same on my credit report?

Can I stop foreclosure on my house if it has already started?

A friend of mine stopped paying for their home that is upside down. Now it’s in foreclosure and they received notice of auction date. Do they still have a chance to negotiate with the bank to sell property on short sale? Please advise.

Our house payment has increased by $900 and one of the family members has lost job, so most likely we’ll have to go with a foreclosure (no equity for refinance). Anyways we have been talking to some loan officers/realtors and they said that “short-sale” is one of the options to can take to save our credit and avoid foreclosure. Taking their advice, I called several companies who had “We Buy Houses” ad on the road sides and their offers seemed too good to be true, saying that they will offer 5 months rent for free if we agree to let them buy our house in short sale. This obviously seems like a scam. So I just wanted to know what is the “correct” procedure to go with a short -sale and what things should be avoided ?
( 2nd Option)
Moreover, we are also thinking about doing a “quit-claim” and transfering the property title to only one family member. However, our loan had several co-borrowers so we were wondering if doing a quit-claim save the rest of the families credit ?

For investors or residents who are considering purchasing a foreclosed home, there are often repairs needed that should be considered when agreeing on a purchase price. The difficulty with foreclosed home purchases that are especially done at auctions is the inability to inspect the home prior to purchase. Foreclosed home investors need to have an idea of common repairs and pitfalls associated with purchasing a foreclosed home in order to firmly assess whether or not they are getting a good value for their dollar.

Call A Dumpster

My son has been a car salesman for years and made a good living. With the economic problems, he has really been hurting! Now he is behind on his mortgage and has received a 7 day letter from his mortgage holder. He has already used up his savings. Is there some gov’t program or intervention that can save his home?

The [final|last] [challenge|test] to [overcome|triumph over|conquer] in the bank short sale [process|procedure|method] is the ever [mounting|rising|growing] [stress|strain|anxiety|tension].  We’ve [already|previously] touched on this a bit in the above concerns and [also|in addition|additionally] in Part I of this [article|editorial|piece|expose].  [However|Nevertheless], the bank short sale [process|procedure|method] brings stresses from [several|more than a few|quite a few|a number of] angles.  There is [undue|unwarranted|too much|unnecessary|unjustified] [stress|strain|anxiety|tension] from how the bank deals with the bank short sale [process|procedure|method] and [stress|strain|anxiety|tension] from the loved [ones|people] around you that [think|believe|feel] they are [helping|aiding] by giving you [advice|counsel|suggestion|guidance].  There is also [stress|strain|anxiety|tension] from the [time|period] that it takes to [complete|finish|finalize|conclude|achieve|carry out] a bank short sale.  That is why you need a real estate [agent|professional], to deal with banks and negotiators. It is so [essential|necessary|vital|crucial|important]. 

We recently filed Chapter 13 to avoid foreclosure, but now I am thinking about letting the house go and changing to Chapter 7? We can’t afford the house mtgs, taxes and insurance on our reduced salary. Question – in a chapter 7 can the creditors (?) come in and take stuff from your house? If so, what are they looking for – high ticket items? We do not have any. Husband is afraid they will come in and take all kinds of stuff. I disagree. With all the foreclosures coming down right now, they do not have the time or expense to chase all these down.
What about the 2 cars we are behind on payments on?
Has anyone gone thru this?

I am trying to help a family memebr avoid bankruptcy and her situation is dire . She lives in an area where the real estate market has stalled out . Her primary residence has a huge payment plus two home equity loans . She has a smaller house that she had been renting out just to make payments . The tenants moved out with no notice . Each month she gets deeper into debt . If she were to sell either house she would still be upside down on the loans . She is at a point where she is not able to pay the larger loan . What will happen to the two equity loans if she goes into foreclosure ? Her credit is already pretty well destroyed .