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- 139 Answers
- 2 Best Answers
- 31 First Answers
- 58 Useful Answers
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About Me
Fred Eckert, a 16+ year veteran Chicago Title Insurance sales representative. I am an assistant vice president and specialize in foreclosure prevention, Short Sales, Charitable Institutions, Bank Owned properties and Education. Computer, Internet, Marketing and Real Estate Investing are some of my other specialities.
I have a Master’s Degree in Business and am a speaker and trainer. Formerly a USN pilot, held positions as Legal officer, Safety officer, Operations officer, Detachment Officer in Charge, Class Desk Officer and Division officer. Member of the Coronado Association of Realtors, the Pacific Southwest Association of Realtors, the San Diego Host Lions Club, the Referral Network San Diego, the San Diego Creative Investors Association and the North San Diego Real Estate Investors Association.
My book, “198 Super Things to Think, Say and Do”, has been well received in the Investment and Real Estate communities. Prior experience with Dun & Bradstreet.
Call Customer Service 619.521.3478 for free property information -
I have a Master’s Degree in Business and am a speaker and trainer. Formerly a USN pilot, held positions as Legal officer, Safety officer, Operations officer, Detachment Officer in Charge, Class Desk Officer and Division officer. Member of the Coronado Association of Realtors, the Pacific Southwest Association of Realtors, the San Diego Host Lions Club, the Referral Network San Diego, the San Diego Creative Investors Association and the North San Diego Real Estate Investors Association.
My book, “198 Super Things to Think, Say and Do”, has been well received in the Investment and Real Estate communities. Prior experience with Dun & Bradstreet.
Call Customer Service 619.521.3478 for free property information -
My Q&A
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Fred Eckert-…'s Answers (139)
Fred Eckert- Chicago Title answered:
Ida,
If this is a trustees sale, and it sounds like it is, you will need to have cash or cash equivalent for the auction for the entire amount. Some people bring cashiers checks in various amounts to cover the winning bid. The lender may discount the amount they are willing to take though not always. Remember these important points
1. Know if you are bidding on a first, second or other junior lein. Some people think they are buying the 1st TD, but wind up with something else.
2. Make sure there are no IRS leins, since the IRS can take the property for what they are owed. My company will issue title insurance with the disclaimer for IRS leins. After 120 days, the IRS leins if any, are usually not valid.
3. You will be buying the property as is. Damage to the property is possible.
4. You can call our customer service at 619.521.3478 in the am and they can give you copies of all the open deeds and the notice of trustee/notice of defaults for free. Mention my name. Call me if you need more information.
If this is a trustees sale, and it sounds like it is, you will need to have cash or cash equivalent for the auction for the entire amount. Some people bring cashiers checks in various amounts to cover the winning bid. The lender may discount the amount they are willing to take though not always. Remember these important points
1. Know if you are bidding on a first, second or other junior lein. Some people think they are buying the 1st TD, but wind up with something else.
2. Make sure there are no IRS leins, since the IRS can take the property for what they are owed. My company will issue title insurance with the disclaimer for IRS leins. After 120 days, the IRS leins if any, are usually not valid.
3. You will be buying the property as is. Damage to the property is possible.
4. You can call our customer service at 619.521.3478 in the am and they can give you copies of all the open deeds and the notice of trustee/notice of defaults for free. Mention my name. Call me if you need more information.
Fred Eckert- Chicago Title answered:
Pam,
The shower could be an asset for a disabled person, particularly if it is made to be, disabled friendly". You will have some others that would still like the bath. Is there room for both? I have both in my master bathroom. The way property is listed in the MLS could pose a problem, since a full bathroom, normally has a tub. I would weigh the pros and cons based on the number of years you expect to live in the home, your desire to update, the likelihood that buyers will want both, possibly and the amount of room you have to work with. Since there is only one bath, I would make it very user friendly.
The shower could be an asset for a disabled person, particularly if it is made to be, disabled friendly". You will have some others that would still like the bath. Is there room for both? I have both in my master bathroom. The way property is listed in the MLS could pose a problem, since a full bathroom, normally has a tub. I would weigh the pros and cons based on the number of years you expect to live in the home, your desire to update, the likelihood that buyers will want both, possibly and the amount of room you have to work with. Since there is only one bath, I would make it very user friendly.
Fred Eckert- Chicago Title answered:
Vivek,
You can see the benefits/concerns/situations that will help you decide at...
http://www.chicagotitlesd.com/buyerseller/8WaysToHoldTitle.pdf
You should consult with Brian Cain at 858.277.2122 if you still have questions after reading the brochure above.
You can see the benefits/concerns/situations that will help you decide at...
http://www.chicagotitlesd.com/buyerseller/8WaysToHoldTitle.pdf
You should consult with Brian Cain at 858.277.2122 if you still have questions after reading the brochure above.
Fred Eckert- Chicago Title answered:
Celena,
A short refi is the lender original lender accepting less than they are owed. The idea is that if they don't agree to helping you , they might wind up with nothing or very little. Particularly true with the second lein holder. Credit may be impacted, however, that is more likely the result of not making payments at all. I suggest you contact one of the free HUD approved counselors. See the link below for information.
http://www.hud.gov/foreclosure/index.cfm
Below is an article on short pay refinances.
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
Let me know if you still need more information.
A short refi is the lender original lender accepting less than they are owed. The idea is that if they don't agree to helping you , they might wind up with nothing or very little. Particularly true with the second lein holder. Credit may be impacted, however, that is more likely the result of not making payments at all. I suggest you contact one of the free HUD approved counselors. See the link below for information.
http://www.hud.gov/foreclosure/index.cfm
Below is an article on short pay refinances.
http://www.mortgagenewsdaily.com/522008_FHA_Short_Pay_Loans.asp
Let me know if you still need more information.
Fred Eckert- Chicago Title answered:
Julie,
You have some excellent offers of help already. I would suggest talking with a local real estate lender to get you pre-approved for a loan first. You need to know how much you can afford to buy, then begin your search. You should talk with a good buyers agent, familiar with the areas you can afford to buy in. I cna recommend some if you need local ones. If your mother-in-law will be helping with the payments or down payment, that will give you more options. You could also look at a duplex, where she could live next door, and have her own home with you near by. There are bank owned duplexes too. If your mother in law is selling a home in in California and is over 55, she may be able to buy a home andkeep her tax lower property tax payments the same. See prop 60 for California. Let me know if you need more information. 619.507.5688
You have some excellent offers of help already. I would suggest talking with a local real estate lender to get you pre-approved for a loan first. You need to know how much you can afford to buy, then begin your search. You should talk with a good buyers agent, familiar with the areas you can afford to buy in. I cna recommend some if you need local ones. If your mother-in-law will be helping with the payments or down payment, that will give you more options. You could also look at a duplex, where she could live next door, and have her own home with you near by. There are bank owned duplexes too. If your mother in law is selling a home in in California and is over 55, she may be able to buy a home andkeep her tax lower property tax payments the same. See prop 60 for California. Let me know if you need more information. 619.507.5688
Specialties
Trustee Sale/Foreclosure/Short Sale/Bank Owned property Specialist.
Technology and Marketing leader.
Technology and Marketing leader.
Experience
Latest:
Naval Officer-Pilot for USN
Various Duties as Naval Officer and Pilot. Legal Officer, Operations Officer, Division Officer, Safety Officer etc
April 1971—June 1992
Previous:
Reporter for Dun & Bradstreet
Investigative Reporter. Key employee reporting and business credit evaluator.
January 1970—April 1971
Certifications & Awards
Master's Degree in Business, University of Laverne. 1992
Affiliate of the Year Multiple times - COAR, PSAR
Winforms Instructor
Affiliate of the Year Multiple times - COAR, PSAR
Winforms Instructor
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