Property Q&A in Berkeley>Question Details

Simon, Home Buyer in Oakland, CA

Hi, Can I view the property?

Asked by Simon, Oakland, CA Tue Jan 27, 2009

This question is about this property:…

Help the community by answering this question:


This property has received a Notice of Default. That doesn't mean it's going to be up for sale. The homeowner has an opportunity to do a number of things.
1) If the owner wants to keep the house, he may want to apply for a loan modification and get his rates and payments lower and within the range he can afford if the bank agrees to the modification
2) The owner can also make the payments to catch up and keep his mortgage current
3) if the owner has no choice, he can also try to sell this as a short sale --- and when it is listed for sale, that's when you can view it. Credit-wise, it is better for the owner to sell it as a short sale instead of letting it go to foreclosure which will affect his credit score more adversely.
4) the owner could give it back to the bank via deed in lieu of foreclosure or
5) file for bankruptcy

But until it is offered for sale, there are no viewings.
0 votes Thank Flag Link Wed Jan 28, 2009
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer