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The Difference Between Pre-Qualification and Pre-Approval

November 12, 2007 by admin Leave a Comment

Pre-qualification is the first step in obtaining mortgage financing. A potential borrower answers a few questions to provide the loan consultant with a quick snapshot of the borrower’s income, existing debt, accumulated savings and whether or not there is a co-borrower. Signature(s) allow the loan consultant to run a credit report and begin to determine what loans are good candidates for this particular client. However, there are literally thousands of loan programs available. It is important for the loan professional to know the long-term financial objectives of the prospective homeowner.

Pre-approval is a written documentation that proves the borrower has full support of a lender. It means the form 1003 Uniform Residential Loan Application has been completed and reviewed by an underwriter. Based on the borrower’s income, debt ratio and savings, the underwriter will provide a dollar amount this borrower is eligible for. Now the borrower has the convenience of shopping for a home in the price range agreed upon by the lender.

Pre-approval allows potential homeowners to shop as cash buyers, and that means negotiating power. The seller will take an offer from a pre-approved shopper much more seriously and may even accept a lower bid because they know the financing is in place and the deal is secure.
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The Information in this Post is Provided by:
Integra Lending Group, LLC
Phone: 985 206 0960
Fax: 985 206 0965
Email: ls@integralg.com
For a Free Pre-Approval, Visit: Integra Lending Group
Proudly Serving St Tammany Parish Louisiana

St Tammany Foreclosures, Sale Date 11/14/2007

November 12, 2007 by admin Leave a Comment

St Tammany Parish Louisiana Foreclosures /
Distressed Properties List
Date of Sale Wednesday, November 14th, 2007

This information is deemed reliable, not verified or guaranteed. Please check for accuracy, completeness, and status of all information.
These properties are not offered for sale by Scoggin Properties/GMAC Real Estate
This list is a recap of properties advertised for foreclosure sale by the
St Tammany Parish Civil Sheriff’s Office

Check Out this Link to View all of the Properties Mapped:
Map for St Tammany Foreclosures, 11/14/2007

Sheriff’s Sale # 2006-13170
Lot 4 Lake View Court, Covington, LA 70433
(Lot 4, Lakeview Regional Medical Center Phase 2A Raw Land)
Writ Amount – $355,999.63 sold with the benefit of appraisement

Sheriff’s Sale # 2005-12582
160-A Lakeview Drive, Slidell, LA 70458
(Lot 19-A Eden Isles, Subdivision Unit No. 2)
Writ Amount – $138,320.47 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13943
232 Bodet Lane, Covington, LA 70433
(Lot 9 A, Square 23, Ozone Park Subdivision, St. Tammany Parish, LA)
Writ Amount – $156,214.94 sold with the benefit of appraisement

Sheriff’s Sale # 2007-10243
60274 Monique St, Lacombe, LA 70445
(.96 Acres, with a 1997 Cavalier, Model #6628, 62×26, Serial Number ALCA1296566529344AB)
Writ Amount – $57,845.23 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13729
261 Egret Street, Covington, LA 70433
Lots 220 & 221, Square 6, Dove Park Subdivision, St. Tammany Parish, LA
Writ Amount – $98,837.92 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13120
28736 Berry Todd Road, Lacombe, LA 70445
(Lot 17, Sq 6, Tammany Forest Subdivision)
Writ Amount – $58,781.75 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13790
23 Ellen Dr. Covington, LA 70433
(Lot 14, Square 16, River Forest Subdivision)
Writ Amount – $209,598.86 sold without the benefit of appraisement

Sheriff’s Sale # 2007-12307
29264 Tupelo Dr. Lacombe, LA 70445
(Lot 21, Block 3, Erindale Heights Subdivision)
Writ Amount – $62,961.24 sold without the benefit of appraisement

Sheriff’s Sale # 2007-14055
101 Lighthouse Point, Slidell, LA 70458
(Lot 110 Mariner’s Cove Subdivision, Phase 1, St. Tammany Parish, LA)
Writ Amount – $9573.60 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13560
205 Tulip Drive, Slidell, LA 70461
(Lot 45 Square 7 River Gardens)
Writ Amount – $57,670.14 sold with the benefit of appraisement

Sheriff’s Sale # 2007-10210
36507 Ed Yates Road, Pearl River, LA 70452
(0.64 Acres)
Writ Amount – $50,888.71 sold without the benefit of appraisement

Sheriff’s Sale # 2004-14633
78453 Honeydew Lane, Covington, LA 70435
(2.46 Acres)
Writ Amount – $111,901.98 sold with the benefit of appraisement

Sheriff’s Sale # 2007-15003
70310 D Street, Covington, LA 70433
(Lots 34 36 Square 96 South Abita Springs)
Writ Amount – $75,660.66 sold with the benefit of appraisement

Sheriff’s Sale # 2007-11836
1057 Pine Street, Slidell, LA 70460
(Lot 18, Square 9, Northside Subdivision)
Writ Amount – $7,980.00 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14892
27018 Tag a Long Road, Lacombe, LA 70445
(Lot 4 Tag-A-Long, Annex Subdivision)
Writ Amount – $109,438.94 sold with the benefit of appraisement

Sheriff’s Sale # 2007-10746
No Municipal Address Available 70445
(Lot 6 Block 3, Tammany Forest)
Writ Amount – $80,000.00 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14476
605 Eagle Drive, Slidell, LA70461
(Lot 11, Quail Ridge Subdivision Phase 5)
Writ Amount – $219,012.14 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14200
6712 Alisa Drive, Slidell, LA 70460
(Lot 151, Belair Subdivision, Phase 1H, St. Tammany Parish, LA)
Writ Amount – $136,801.37 sold without the benefit of appraisement
————————————————————————————-
Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

St Tammany Foreclosures Sold Properties 11/7/07

November 12, 2007 by admin Leave a Comment

Sheriff’s Sale # 2005-14021
2045 Olene Drive, Mandeville, LA 70448
(Lot 2 Glendale Heights Farms Subdivision)
Writ Amount – $267,417.49 sold with the benefit of appraisement

Appraisal Amount – $242,500.00
Minimum starting bid – $161,667.00
Sold for $289,000.00
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Sheriff’s Sale # 2007-13560
28566 Haddad Street, Lacombe, LA 70445
(Lots 1 and 2, Block 5, Tammany Forest Subdivision)
Writ Amount – $9,188.17 sold with the benefit of appraisement

Appraisal Amount – $127,500.00
Minimum starting bid – $85,000.00
Sold for $106,000.00
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Sheriff’s Sale # 2007-13979
65195 North Boulevard, Pearl River, LA 70452
(1.46 Acres)
Writ Amount – $150,412.41 sold with the benefit of appraisement

Appraisal Amount – $192,500.00
Minimum starting bid – $128,334.00
Sold for $160,000.00
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Sheriff’s Sale # 2007-12833
392 Brown Thrasher Loop, Madisonville, LA 70447
(Lot 188, Parcel C, Phase 1, “The Pines” Guste Island Estates)
Writ Amount – $211,552.72 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $1,000.00
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Sheriff’s Sale # 2007-13470
2995 William Tell, Slidell, LA 70458
(Square 3, Town of Slidell)
Writ Amount – $127,200.00 sold with the benefit of appraisement

Appraisal Amount – $122,500.00
Minimum starting bid – $81,667.00
Sold for $81,667.00
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Sheriff’s Sale # 2007-14123
3166 William Tell Street, Slidell, LA 70458
(Lot 11, Square 6, Salmen Addition # 1)
Writ Amount – $116,898.79 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for Cost
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Sheriff’s Sale # 2007-12952
5436 Clearpoint Drive, Slidell, LA 70460
(Lot 72, Belair Subdivision, Phase 1E1)
Writ Amount – $95,336.03 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $123,000.00
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Sheriff’s Sale # 2003-11149
1130 Gause Boulevard, Slidell, LA 70458
(2.39 Acres)
Writ Amount – $1,022,921.59 sold with the benefit of appraisement

Appraisal Amount – $450,000.00
Minimum starting bid – $300,000.00
Sold for $417,500.00
———————————–

Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

St Tammany Foreclosures Scheduled Sale 11/7/2007

November 10, 2007 by admin Leave a Comment

St Tammany Parish Louisiana Foreclosures / Distressed Properties List
Date of Sale to be Wednesday, November 7th, 2007

Check Out this Link to View all of the Properties Mapped:
http://www.zeesource.net/maps/map.do?group=52899&x=-89.8956&y=30.4179&z=8

Sheriff’s Sale # 2007-12952
5436 Clearpoint Drive, Slidell, LA 70460
(Lot 72, Belair Subdivision, Phase 1E1)
Writ Amount – $95,336.03 sold without the benefit of appraisement

Sheriff’s Sale # 2007-14123
3166 William Tell Street, Slidell, LA 70458
(Lot 11, Square 6, Salmen Addition # 1)
Writ Amount – $116,898.79 sold without the benefit of appraisement

Sheriff’s Sale # 2003-11149
1130 Gause Boulevard, Slidell, LA 70458
(2.39 Acres)
Writ Amount – $1,022,921.59 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13858
76185 Danielson Road, Covington, LA. 70435
(2.0 Acres)
Writ Amount – $64,419.91 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13084
21367 Maryetta Road, Bush, LA 70431
(1.75 Acres)
Writ Amount – $24,572.86 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13470
2995 William Tell, Slidell, LA 70458
(Square 3, Town of Slidell)
Writ Amount – $127,200.00 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14004
147 Tulip Street, Slidell, LA. 70461
(Lot 43, Square 7, River Gardens Subdivision)
Writ Amount – $77,835.24 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14031
207 East Queensbury Court, Slidell, LA 70461
(Lot 320, Phase IV, Parcel B, Crossgates Subdivision)
Writ Amount – $233,582.43 sold with the benefit of appraisement

Sheriff’s Sale # 2007-11803
20123 Garland Street, Covington, LA 70435
(Lots 7 and 8, Block 14, Garland Addition, Town of Covington)
Writ Amount – $203,277.13 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13560
28566 Haddad Street, Lacombe, LA 70445
(Lots 1 and 2, Block 5, Tammany Forest Subdivision)
Writ Amount – $9,188.17 sold with the benefit of appraisement

Sheriff’s Sale # 2007-10671
1100 Picadilly Circle, Slidell, LA 70461
(Lot 76, Square D, Kingspoint Subdivision, Section 5)
Writ Amount – $84,581.01 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13979
65195 North Boulevard, Pearl River, LA 70452
(1.46 Acres)
Writ Amount – $150,412.41 sold with the benefit of appraisement

Sheriff’s Sale # 2007-12993
35262 Bayou Drive, Slidell, LA 70460
(Lot 6, Square E, Bayou Liberty Gardens)
Writ Amount – $127,474.15 sold with the benefit of appraisement

Sheriff’s Sale # 2007-14129
71176 Packett Place, Abita Springs, LA 70420
(Lot 89, Southwind Subdivision, Phase 3)
Writ Amount – $160,081.29 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13535
2419 Jay Street, Slidell, LA 70460
(Lot 22, Square 27, Ozone Woods Addition No. 1)
Writ Amount – $80,933.26 sold without the benefit of appraisement

Sheriff’s Sale # 2005-14021
2045 Olene Drive, Mandeville, LA 70448
(Lot 2 Glendale Heights Farms Subdivision)
Writ Amount – $267,417.49 sold with the benefit of appraisement
—————————————————————————-
Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

The St Tammany Market

November 2, 2007 by admin Leave a Comment

The current state of the real estate market in St Tammany Parish, LA. (a brief insight)
St Tammany Parish does not have a first time home buyers market, with at least a 1 year inventory of new construction homes above $200K, on the market right now, and that is a conservative estimate. All custom built, with granite countertops, cherry cabinets, tile and wood floors, plush carpets, media rooms, and landscaping to please the eyes. Turn-key homes waiting for the buyers to jump on them. There are becoming more homes under 150K popping on the market recently. Only however because tired sellers are reducing their prices to something much more easier on the pallett. The buyers are out there but they need / want something affordable. Some of the prices are outrageous. I have a sympathetic heart for the people who bought right after Katrina. Especially the ones who did not know the area. Prices spiked at that time, and what goes up, must come down, therefor you are upside down. Everybody needs to realize that market prices are on a downward curve, and are not at the bottom yet.
Please do not take what I say as a gloom and doom statement. This is just the present state of the market. The market is very dynamic and will rebound and grow stronger. I have alot of faith in real estate, my Grandfather taught me. It is almost impossible to go wrong, as long as you use good judgement.
Next week – Where does St Tammany need its roads widened?
———————————-
Marc at Midnight. Happy Halloween. 🙂

Ways to Improve a Credit Score

October 30, 2007 by admin Leave a Comment

With identity theft on the rise, consumers are becoming increasingly aware of the importance of reviewing their credit reports. However, their thoughts about credit and its long-term impact upon their financial future typically end there until it’s time to apply for a home loan. A credit score is used to evaluate how likely a borrower is to repay their loan. There are several actions a person can take to impact their score. Here are a few to keep in mind.

If someone has a credit card which has a high balance, while their remaining credit cards have low or zero balances, it’s best to distribute the debt across the cards in order to change the ratio of debt to available credit.

Many consumers believe that they should close an existing credit card account if the card is inactive. It’s better to keep the account open and use it periodically in order to take advantage of its contribution to their long-term credit history.

With the flood of credit card offers that come in the mail, it may be tempting to open new accounts. However, these “pre-approved” offers are not approved until the companies run a credit report which will temporarily impact the applicant’s credit score. In addition, experts recommend that a person maintain between two to five credit card accounts, total, so it’s best to avoid accumulating too many.

There are several factors that contribute to a credit score. But by observing the tips above, as well as making payments on time and keeping balances as low as possible, a consumer is sure to achieve superior results.
—————–
The Information in this Post is Provided by:
Integra Lending Group, LLC
Phone: 985 206 0960
Fax: 985 206 0965
Email: ls@integralg.com
For a Free Pre-Approval, Visit: Integra Lending Group
Proudly Serving St Tammany Parish Louisiana

St Tammany Foreclosures, Sold Properties 10/24/07

October 26, 2007 by admin Leave a Comment

Sheriff’s Sale # 2007-13913
72215 Indian Trail Road, Abita Springs, LA 70420
(.48 Acres)
Writ Amount – $60,742.60 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $20K
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Sheriff’s Sale # 2007-13991
6128 Clearwater Drive, Slidell, LA 70460
(Lot 275, Belair Subdivision, Phase 1C)
Writ Amount – $194,802.29 sold with the benefit of appraisement

Appraisal Amount – $167,500.00
Minimum starting bid – $111,667.00
Sold for $111,667.00
————————–

Sheriff’s Sale # 2007-13179
3217 College Street, Slidell, LA 70458
(Lot 2, Square B, Salmen Addition # 2)
Writ Amount – $127,750.00 sold with the benefit of appraisement

Appraisal Amount – $132,500.00
Minimum starting bid – $83,334.00
Sold for $83,334.00
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Sheriff’s Sale # 2006-15011
2006 New Hampshire Street, Covington, LA 70433
(Lot 10, and the Westerly 20.0 feet of Lot 9, Square 102, City of Covington)
Writ Amount – $15,251.86 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $32,800.00
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Sheriff’s Sale # 2007-11562
3475 Timothy Drive, Slidell, LA 70458
(Lot 16, Abney Estates Subdivision)
Writ Amount – $165,222.15 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $75K
————————————

Sheriff’s Sale # 2007-13889
Vacant Land, Lacombe, LA 70445
(Lot 20, Square 6, Lacombe Acres Annex)
Writ Amount – $17,636.07 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for Cost + $1000.00
————————————

Sheriff’s Sale # 2002-12857
202 Audubon Drive, Slidell, LA 70458
(Lots 1 and 2, Square 8, Audubon Place Subdivision)
Writ Amount – $57,153.83 sold with the benefit of appraisement

Appraisal Amount – $76,500.00
Minimum starting bid – $51,000.00
Sold for $70K
————————–

Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

St Tammany Foreclosures, Scheduled Sale 10/24/07

October 26, 2007 by admin Leave a Comment

Compiled by Marc Pellettiere, Realtor
www.StTammanyHomesAndLand.com
985-867-8670 Office, 985-515-5825 Cell

St Tammany Parish Louisiana Foreclosures / Distressed Properties List
Date of Sale to be Wednesday, October 24th, 2007

Check Out this Link to View all of the Properties Mapped:
St Tammany Foreclosure Map, Sale Date 10/24/2007

Sheriff’s Sale # 2002-12857
202 Audubon Drive, Slidell, LA 70458
(Lots 1 and 2, Square 8, Audubon Place Subdivision)
Writ Amount – $57,153.83 sold with the benefit of appraisement

Sheriff’s Sale # 2006-16369
2011 Churchill Street, Slidell, LA 70461
(Lot 12, Square 3, Kingsport Subdivision, Phase 6)
Writ Amount – $62,132.66 sold without the benefit of appraisement

Sheriff’s Sale # 2007-14002
70164 Tee Bourg Lane, Mandeville, LA 70471
Writ Amount – $74,933.72 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13889
Vacant Land, Lacombe, LA 70445
(Lot 20, Square 6, Lacombe Acres Annex)
Writ Amount – $17,636.07 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13179
3217 College Street, Slidell, LA 70458
(Lot 2, Square B, Salmen Addition # 2)
Writ Amount – $127,750.00 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13924
449 E. Honors Point Court, Slidell, LA 70458
(Lot 86, Masters Point of Oak Harbor, Phase 1)
Writ Amount – $399,482.68 sold with the benefit of appraisement

Sheriff’s Sale # 2006-13009
105 Queen Anne Drive, Slidell, LA. 70460
(Lot 62 Huntwyck Village Phase 1)
Writ Amount – $7,667.06 sold with the benefit of appraisement

Sheriff’s Sale # 2007-10473
22375 Ponderosa Drive, Mandeville, LA 70471
(Lot 34, Maplewood Estates Addition)
Writ Amount – $154,904.05 sold with the benefit of appraisement

Sheriff’s Sale # 2007-11864
133 South Cherrywood Lane, Pearl River, LA 70452
(Lot 87, Cherrywood Subdivision, Phase 1)
Writ Amount – $144,637.00 sold without the benefit of appraisement

Sheriff’s Sale # 2007-11562
3475 Timothy Drive, Slidell, LA 70458
(Lot 16, Abney Estates Subdivision)
Writ Amount – $165,222.15 sold without the benefit of appraisement

Sheriff’s Sale # 2007-11564
515 Legendre Drive, Slidell, LA 70460
(Lot 162 Coin Du Lestin Estates Subdivision, Addition # 3)
Writ Amount – $225,000.00 sold without the benefit of appraisement

Sheriff’s Sale # 2004-14962
76 Northam Court, Slidell, LA 70458
(Lot 407, Slidell Country Club Estates)
Writ Amount – $130,694.12 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13916
27366 Highway 190, Lacombe, LA 70445
(1/2 of Square 78 of Lacombe)
Writ Amount – $152,759.87 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13991
6128 Clearwater Drive, Slidell, LA 70460
(Lot 275, Belair Subdivision, Phase 1C)
Writ Amount – $194,802.29 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13913
72215 Indian Trail Road, Abita Springs, LA 70420
(.48 Acres)
Writ Amount – $60,742.60 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13974
82297 Columbia Road, Bush, LA 70431
(2.45 Acres)
Writ Amount – $99,500.90 sold with the benefit of appraisement

Sheriff’s Sale # 2007-13559
2178 Steven Street, Mandeville, LA 70448
(Lots 10 and 12, Square 347-A, Town of Mandeville)
Writ Amount – $202,147.92 sold with the benefit of appraisement

Sheriff’s Sale # 2007-12650
1618 Chancer Lane, Slidell, LA 70461
(Lot 463 Pinehurst of Kingspoint Subdivision Phase 8-J)
Writ Amount – $167,373.00 sold without the benefit of appraisement

Sheriff’s Sale # 2007-13973
1413 Devonshire Drive, Slidell, LA 70461
(Lot 3, Kingspoint Subdivision, Phase 8-A)
Writ Amount – $139,526.64 sold without the benefit of appraisement

Sincerely,
Marc Pellettiere, Realtor, QSC
Scoggin Properties / GMAC Real Estate
Email: MarcP@ScogginProperties.com
Office – 985-867-8670 ext 119
Fax – 985-893-1293
Cell – 985-515-5825
Visit My Website: www.StTammanyHomesAndLand.com
* Free Over – the – Net Home Evaluation
Visit www.StTammanyTalks.com
* Blog Real Estate in St Tammany
————————————————
Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

St Tammany Foreclosures, Sold Properties 10/17/07

October 26, 2007 by admin Leave a Comment

Sheriff’s Sale # 2007-13842
416 Queen Anne Drive, Slidell, LA 70460
(Lot 520, Huntwyck Village, Phase VI)
Writ Amount – $91,972.55 sold with the benefit of appraisement

Appraisal Amount – $152,500.00
Minimum starting bid – $101,667.00
Sold for $101,667.00
————————–

Sheriff’s Sale # 2007-13711
70073 11th Street, Abita Springs, LA 70420
(Lots 27 and 29, Square 40, Tammany Hills Subdivision)
Writ Amount – $124,459.79 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $140,340.00
————————————

Sheriff’s Sale # 2007-13724
305 Branch Crossing Road, Covington, LA 70435
(Lot 70, Savannah Subdivision, Phase 1)
Writ Amount – $200,800.00 sold with the benefit of appraisement

Appraisal Amount – $257,500.00
Minimum starting bid – $171,667.00
Sold for $171,667.00
————————–

Sheriff’s Sale # 2007-13786
125 Windward Passage, Slidell, LA 70458
(Lot 202, Eden Isles Subdivision, Unit 4)
Writ Amount – $171,421.51 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $189K
————————————

Sheriff’s Sale # 2007-13883
16 Lurline Drive, Covington, LA 70433
(Lot 26, Square 1, River Forest Subdivision)
Writ Amount – $127,645.37 sold with the benefit of appraisement

Appraisal Amount – $155,000.00
Minimum starting bid – $103,334.00
Sold for $103,334.00
————————–

Sheriff’s Sale # 2007-13914
85 Mayers Trace, Slidell, LA 70460
(Parcel B contains 1.3137 Acres)
Writ Amount – $213,963.32 sold with the benefit of appraisement

Appraisal Amount – $300,000.00
Minimum starting bid – $200,000.00
Sold for $235,000.00
————————–

Sheriff’s Sale # 2007-11696
11030 Garden Lane, Folsom, LA 70437
(this home has Tchefuncte River frontage)
Writ Amount – $256,038.71 sold with the benefit of appraisement

Appraisal Amount – $400,000.00
Minimum starting bid – $266,667.00
Sold for $303,505.00
————————–

Sheriff’s Sale # 2007-11700
# 6 Colony Trail, Mandeville, LA 70448
(Lot 6, Greenleaves Colony, Phase 1, Portion of Parcel 6 Greenleaves Subdivision)
Writ Amount – $296,705.00 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for Cost
————————————

Sheriff’s Sale # 2007-11899
305 Westminster Drive, Slidell, LA 70460
(Lot 244 Huntwyck Village, Phase 3)
Writ Amount – $120,540.67 sold without the benefit of appraisement

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for $80K
————————————

Sheriff’s Sale # 2005-14760
70436 5th Street, Covington, LA 70433
(Lot Nos. 28 and 30 of Square 62 of South Abita Springs)
Writ Amount – $22,861.10 sold without the benefit of appraisement
(Only 1/2 Interest was sold in this property)

Appraisal Amount – Waived
Minimum starting bid – Cost
Sold for Cost
————————————

Visit
www.StTammanyHomesAndLand.com
for a Free Weekly List of Foreclosures in St Tammany Parish Louisiana.
Thank You
Marc Pellettiere Realtor
Scoggin Properties / GMAC Real Estate
985-867-8670

What Is “Seller Rent-Back”?

October 22, 2007 by admin Leave a Comment

In home purchase transactions, there are many times when the buyer and the seller are simply unable to agree upon a specified closing date. The Real Estate Agent involved can negotiate a ‘rent back’ period that is agreeable to both parties. This means the transaction technically closes, the loan for mortgage financing is funded, and ownership of the property is transferred into the buyer’s name. However, the buyer does not take occupancy of the property until several days later. Instead, the buyer sets up a rental agreement in which the property is leased back to the seller for a temporary period that everyone has agreed upon.

While this strategy is fairly common, it is important to make sure the seller is not occupying the property in a lease agreement for more than 30 days* after the close of the purchase transaction. This would constitute a big problem for the new homeowner. After 30 days, the lender would view this as a non-owner occupied purchase, and it would cause the terms of the loan to change radically.
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