All Forum Posts by: Webb Sledge

So what I hear you saying is that bankruptcy puts a temporary halt to the foreclosure process, but is not the end/solution to the problem?

Like my last post, the trustee's office told me an auction was cancelled due to mitigation. She may have used "loss" mitigation, but I don't recall. Maybe they are synonymous.

What does this really mean?

I just called a trustee to find out the outcome of an auction near me, and she told me the auction was cancelled due to bankruptcy.

How would this have worked? I thought the bank would auction the house off anyway. What does an auction, where the bank is looking to recoup their money, have to do with the owner of record filing for bankruptcy?

Is there any hope of getting access to the realtor-side of the MLS (on my own) without working for a broker?

Any ideas on where I could find information about the state's requirements for this sort of thing?

Searched the board but didn't find anything.

Besides getting a real estate license, is anything else required to gain access to the realtor-side of the MLS? Do you have to work for a certain type of company or can you just get your license, get access and be done with it?

As someone who plans on doing this full time, 70 hours worth of work is not very much to get a license. Don't know what the testing fees are, but unless they are extravagant, I can't imagine them being a deterrent either.

I'm in Virginia, if it makes any difference.

Thanks for the help.

No thanks. I think I'll keep track of why they were cancelled.

I want to continue following simply to be aware of what's going on with them and what's going on in the area. I understand that these properties sometimes become REOs, which I'm very interested in as a real estate investor, or sometimes the owner will make-up back payments and get the house out of foreclosure (only to go back into foreclosure later), or sometimes the bank will decide to list it with a Realtor, etc. etc.

You can't pick these houses up at a discount if you don't know what's happened to them or who owns them. I'm just trying to figure out how to find out where they've gone.

A couple of the auctions for homes near me go cancelled, and I understand that this can be for a multitude of reasons, but I'm wondering how I can find out why the auction was cancelled? I'd like to continue to track these houses... where should I start?

Thanks.

I'm in Waynesboro, working in Augusta and Rockingham counties. Moving to Lynchburg at the end of the summer and probably taking the party down there. Haven't looked into that market very much just yet.

Does anyone know of any REI clubs/groups in the area?