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About Steele V. Propp
Expertise
Can answer all questions on all areas of the foreclosure process both judicial and non-judicial. Also on loss mitigation and foreclosure prevention including loan modification, short sales and deed in lieu of foreclosure. Also can assist with questions on purchasing property in foreclosure and already bank owned (REO, Real Estate Owned). Both as an investor and/or a homeowner.

Experience
I have 18 years of working with the foreclosure industry as a Foreclosure Specialist. Currently work with over 20 major lenders as well as a dozen asset management companies. Head up the Bank Owned Property Division of the Schatz Real Estate Group located in Minneapolis, MN. Regularly consult and advise consumers from across the county.

Organizations
I belong to the Realtor Association at the National, State and Local levels. Also the Real Estate Investors Association. The Real Estate Educators Association. As well as number foreclosure industry organizations.

Publications
Consumer Reports, Money magazine, Consumer Digest and many local and national newspapers.

Education/Credentials
Bachelors Degree work in Psycholgy and Economics. Masters Degree work in Counseling Over 15 real estate designations. Specialized study of foreclosures and real estate.

Awards and Honors
Diamond Award from the Certified Residential Specialist (CRS) origanization. Chapter of the Heart as President of the Minnesota CRS Chapter

Past/Present Clients
GMAC Asset Management, First American REO, HomEquity REO, Keystone Asset Management and more.

You are here: Experts > Real Estate > Foreclosure > Foreclosure > Should I find out about previous foreclosure?

Foreclosure - Should I find out about previous foreclosure?

Expert: Steele V. Propp - 11/6/2009

Question
About 4 years ago, I owned a home that went into foreclosure. At the time, I didn't really talk with my lender as I was ignorant and fearful of their calls. I simply moved out and ignored them.

I had PMI on the loan. Since this was several years ago, is it safe to assume I will have no further responsibility? This happened about a year before the real estate market took a tumble.

Answer
I am not an attorney and this is partly a legal question.

Of course, the more time that goes by, the better for you. It is my understanding that the ability to file for a judgement is tied to the statute of limitations. You might want to check to see what that is in your state in this type of situation.

I have seen 2 and 3 year limits on various kinds of claims. I would check with an attorney that specializes in foreclosure work.

Steele
http://www.shortsalesminnesota.com

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