Foreclosure in West Covina : Advice

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Roy Bush, Both Buyer and Seller in Phoenix, AZ
Roy Bush answered:
House was foreclosed over 3 years ago but 2nd mortgage lender sold the loan and I keep getting statements showing that I still owe it
CFS Mortgage, http://www.cfsflex.com, has a flexible loan program. They allow a mortgage after a foreclosure, short sale, or chapter 7 bankruptcy. There is only a six month waiting peri ... more
0 votes Share Flag Sat Jul 27, 2013 Foreclosure in 91792
Simon Campbe…, Real Estate Pro in Miami Beach, FL
Simon Campbell answered:
How to buy a foreclosed property bankowned??
Here are a couple of answers to common questions about what happens at a foreclosure auction:

When do you have to pay?
In most cases, the bank will require a substantial deposit o ... more
0 votes Share Flag Thu Jan 10, 2013 Foreclosure in 91791
Luis Sequeira, Real Estate Pro in Covina, CA
Luis Sequeira answered:
what are the chances of buying again after a foreclosure? Waiting period?
Per one on the mortgage lenders I use here are the
Wait Times for diferrent scenarios and financing options

Foreclosure:

Conventional: 5 to 7 years
FHA: 3 years

Short Sale
... more
0 votes Share Flag Wed Apr 4, 2012 Foreclosure in 91792
Robert Chome…, Real Estate Pro in San Diego, CA
Robert Chomentowski answered:
when a house has been foreclosed, what happens with the 2nd mortgage? Will they get paid a % when the bank sells the property?
If the house sells at trustee auction to an investor and the investor pays above the 1st lien amount the 2nd will get some money. If no investor buys the house and it goes back to the ... more
0 votes Share Flag Mon Feb 13, 2012 Foreclosure in 91792
Joanna Morris, Real Estate Pro in 34450
Joanna Morris answered:
don't want to pay private lender or stop my mortgage?
He has a mortgage on Land!!!!

A short sale should not be used just because you no longer want to pay or because you feel the value is not there anymore. Many, many people are in t ... more
0 votes Share Flag Thu Jul 8, 2010 Foreclosure in West Covina
Butterbird, Real Estate Pro in Salida, CA
Butterbird answered:
What are my chances at a short sale?
short-sales are a great way to get out of huge amounts of debt and start fresh in less than 24 months. Please call me if you want to talk. Kathryn Knightsby, (800)895-1173 fulldebtforgi ... more
0 votes Share Flag Wed Apr 7, 2010 Foreclosure in West Covina
Jonathan Chi, Real Estate Pro in Covina, CA
Jonathan Chi answered:
I found this property can someone please explain how this sold price is possible??
Hi Steven,

We checked the title records and thinks that due to there are multiple leans to the property. The second lean holder might have acquired the property for $55,000 and plan ... more
0 votes Share Flag Thu Nov 6, 2008 Foreclosure in 91791
L.A. Real Es…, Real Estate Pro in Los Angeles, CA
L.A. Real Estate Group answered:
Is now the right time to buy? Are prices still going down in 6mos time?
Hi May,
No one can prefict exactly when we have hit the lowest point of the market, because by the time everybody realizes that it hit bottom, its already too late and on the rise! Now ... more
1 vote Share Flag Tue Oct 28, 2008 Foreclosure in West Covina
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