Property Q&A in San Jose>Question Details

Sarge, Home Buyer in Massachusetts

may i ask why the forclosure and what the house was originally bought for? also what number juli lynn dr is it

Asked by Sarge, Massachusetts Fri May 1, 2009

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This question is about this property: http://www.trulia.com/foreclosure/2004452735--Juli-Lynn-Dr-S…

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4
Sarge - Please send me (jbateman@InteroRealEstate.com) your email address so that I can send you the list. Don't put your email address on the reply on Trulia.
The foreclosure process, in California, is usually 3-4 months. Once the owner stops making the mortgage payments, the Notice of Default (NOD) is filed. This starts the foreclosure process and ends with the Trustee sale at the courthouse steps. For the last few months the banks have been holding on to properties, for several reasons. We should start seeing more REO's in the next few months.
Saying that, the home could be on the MLS 30-60+ days after the Trustee Sale.
Joanna Bateman
0 votes Thank Flag Link Wed May 6, 2009
Thanks Joanna

I would love a list of foreclosures in the Almaden valley region. That would be great. So will or is this house for sale, how much, and when
0 votes Thank Flag Link Wed May 6, 2009
1295 JULI LYNN DR, SAN JOSE 95120
Last sold 5/27/2004 for $630,000
0 votes Thank Flag Link Fri May 1, 2009
Sarge - The home owners have stopped making the mortgage payments and the lenders have recorded a Notice of Default (NOD). RealtyTrac.com and Trulia.com call these PRE-FORECLOSURES, since it is the first step in the foreclosure process. Usually the smaller dollar amount is the second mortgage lender. This home currently is NOT on the MLS for sale.
The next step in the foreclosure process is the Notice of Trustee Sale (NOT). Some websites call this Trustee Sale. Then you will see AUCTION, this is the legal process of auctioning the property at the courthouse steps.
Let me know if you have any additional questions or would like a list of pre-foreclosure and foreclosed homes in the San Jose area.
Joanna Bateman, DRE 01792532
408.687.3626
0 votes Thank Flag Link Fri May 1, 2009
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