Property Q&A in Mid-City>Question Details

Andrew Sider…, Other/Just Looking in Outside U.S.

any more info on this property ??

Asked by Andrew Sideris, Outside U.S. Wed Nov 6, 2013

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This question was asked from this property: http://www.trulia.com/foreclosure/3134806446--Yale-St-3-Sant…

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2
I have told Trulia reps over the years that these fake 'listings' should not be allowed OR they should be given their own specific area on the site. They are not true properties on the market. Anytime you see a property with the Realty Trac logo it is simply a property with a notice of default, information that is public. This company is trying to sell a product. In regard to any property of this kind, likely the owner will become current with their mortgage. If not, the bank will repossess and put it back on the market at market price. Hence if a $1mill property is in default for $200k (a price Realty Trac may advertise) and goes into foreclosure, the bank will put it back on the market for $1mill - NOT for $200k. These 'listings' are misleading and cause serious consumers to waste valuable time. I hope in the future this and other consumer sites will disallow these notice of default properties.
0 votes Thank Flag Link Thu Nov 7, 2013
Just a notice of default. Not for sale, yet.
0 votes Thank Flag Link Wed Nov 6, 2013
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