Home Buying in Palmdale>Question Details

Mzlinda, Home Buyer in Palmdale, CA

Why would a house that was listed as an "active" pre-foreclosure change in status to "inactive"?

Asked by Mzlinda, Palmdale, CA Sat Nov 12, 2011

A house that I had been watching as a Pre-foreclosure for 122 days, (the same one I asked the question about yesterday) has changed in status from "active" to "inactive". As far as I know, the house was never put on the market as a Short Sale or Foreclosure, and did not go to a Trustee sale, so I'm wondering what might have happened?

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6
Hi Mzlinda....
You have a few good answers to go by, and we're all just guessing here because we don't have a specific address . However, my "guess" is that after 122 days on the market, the property is most likely still under contract with a listing agent, hence "inactive," but the family may have tired of showings, or perhaps the foreclosure is imminent, or there is illness...often the "inactive" status is requested when families just don't want showings for a while......Or, we can hope, there is a loan modification in the works...

Joanne Sterling
Keller Williams Realty AV
323-377-7056
0 votes Thank Flag Link Sun Nov 13, 2011
I'm sorry Emily is spouting sour grapes here because I don't believe she is REALTOR. It would be a violation of the code of ethics to approach a seller in this manner while they are being represented by an agent. Just because a propery has had the sign taken down doesn't mean they are not under contract. I am also sorry Emily is so bitter about loan Mods, yes, many requests to do loan mods end up denied. This is because the home owner would not be able to quaily to continue to finance the loan because of their monitary situation. You never know, if they lost their job(s) and have no income, they can't make a payment no matter how low it is! Good luck and regardless of who you choose to represent you, make sure they are a LOCAL REALTOR!
0 votes Thank Flag Link Sat Nov 12, 2011
I think maybe only the Easter bunny is supporting distressed homeowner, because the banks sure don't. Loan mods, the MAJORITY of the time are NOT working, this is why there are so many short sales & REOs on the market. Banks have had going on 4yrs to really help homeowners & they haven't. Yet there was a foreclosure moratorium where 1 large bank took under a month to make sure 3 million loans were written correctly, yet it takes them almost 3yrs to process 150,000 loan mod requests!

I don't know why you're just "keeping an eye" on this property for 4mos? Call up a local agent & have them go knock on their door to find out what's up now! It's highly possible the bank has put the owners on the loan mod merry go round, round & round they go, where they'll stop, I KNOW! It's called "DENIED".

Then you'll see it on the market as a short sale or an REO. You can also email me directly, I'll find out what's going on with this house ASAP, so you don't wait on it for another 4mos. I won't check back on this same Trulia posting for answers after mine.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
0 votes Thank Flag Link Sat Nov 12, 2011
It seems somewhat obvious that the situation has changed. Both Richard and Dorene have possible reasons why. Every "distressed" homeowner I have delt with has always started off our conversation with "I don't want to loose my home!" and who could blame them. Most of us were never taught to walk away from our obligations. Personally, I have seen a house go on and off the market several times while the home owner tries to negotiate there way through a tuff situation. Just because you don't see the word "shortsale" or "forclosure" in a listing doesn't mean that it is not. Some MLS's absolutly require that an agent address these things in the "Marketing Remarks" (the description the consumer sees) and other MLS's believe that what ever the agent wants to do is fair game. And, some agents will bury a hint somewhere that will give you a clue, ie. "subject to lenders approval."

If you need help in making your way some of these types of issues, feel free to call me anytime.

Don Gockel, Broker
888-455-1543
0 votes Thank Flag Link Sat Nov 12, 2011
It is possible the owner may have done a loan modification or otherwise gotten out of their distressed situation. Or there may be something else going on. If you want to give me the address, I can take a look and let you know what else I can find out.

Best,

Richard Schulman
Keller Williams Realty
0 votes Thank Flag Link Sat Nov 12, 2011
Dear Mzlinda,
There is quite a bit of support for the homeowner when a property goes into distress. Every effort is made to keep that owner in their home. It's quite possible the owner was able to pay what they owed and cure the default on their loan.
0 votes Thank Flag Link Sat Nov 12, 2011
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