Public Comments | Public Comments for Flagstaff Real Estate and Community News Blogsite | |
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| | July 28, 2010 | Comment about: Foreclosures Jump as Moratorium Ends | | Not a likely result for most homes | | The servicer for the mortgage loan will generally pay taxes and buy insurance on the defaulted properties to preserve the "asset." These fees, with interest and penalties, are added to the debt on the borrowers' credit records -- and attempts to collect may be made if the property is not "non-recourse" eligible. Most tax deeds in Northern Arizona are for properties purchased for cash years ago in highly speculative areas of mostly worthless bare land. | |
| | July 26, 2010 | Comment about: Foreclosures Jump as Moratorium Ends | | From foreclosue to a tax deed sale | | If defaults on mortgages are increasing as is the case in most states, then some great bargains could be found. One thing we all tend to forget about all of this is the bottom of the barrel market that these greedy banks have caused to be filled up with a debris called tax deed sale properties. One way I have found to get some small satisfaction is to take properties from the banks at a tax deed sale. I wonder how many of these properties will make it to a tax deed sale? | |
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