What is a Tax Foreclosure Auction [video]

Tax Foreclosure Auctions in Washington State

Snohomish County Tax Foreclosure Auction in ProgressAfter going to the Snohomish County Tax Foreclosure Auction I made a YouTube video and did a post on Facebook about how the day went and that I was the successful bidder on a piece of vacant land.  That winning bid purchased me a great investment that looks like it should have a good ROI in the future.  Well that created a lot of questions so hopefully this video below answers those questions.
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Mortgage Servicers Report Foreclosure Settlement Progress in Washington

Five months after five of the nation’s top mortgage servicers agreed to a foreclosure settlement with 49 states attorneys generals, several federal agencies, and court reporters in Seattle WA, preliminary numbers are in. Nationwide, Bank of America, JPMorgan Chase, Wells Fargo, Citigroup, and Ally Financial have helped a total of 7,093 borrowers modify their mortgages and they’ve forgiven $749.4 million in mortgage debt in the past five months. They’ve also helped over 74,000 people sell their home via short sale by forgiving part of their mortgage. Below are some of the other nationwide results:
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Washington State Foreclosure Timeline Process [Video]

A video describing the Washington State Foreclosure Timeline and Process.

What happens once you stop making your payments, what is a Notice of Default, what is a Notice of Trustees Sale, what is an Auction Date? These items are all lined out in the foreclosure process.
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Could Washington’s Rising Foreclosure Rate Send Prices Plummeting?

After months of decline, Washington state’s foreclosure rate is beginning to see an uptick in activity especially in the Seattle and Snohomish County areas. King County foreclosure filings in August increased by 32.2 percent from August while nationwide the rate rose only .8 percent. Statewide, the foreclosure rate was slightly worse with an increase of 38.1 percent.
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State of Washington Supreme Court: No Note, No Foreclosure

The State of Washington’s Supreme Court ruled that Mortgage Electronic Registration Systems, Inc. (MERS) is prohibited from using the state’s non-judicial process to foreclose on properties unless they hold the promissory note. The decision came about after the court ruled in favor of two plaintiffs who were foreclosed on by MERS although the company did not hold the promissory note for the property.
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