Foreclosure in Los Angeles : Questions & Answers

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SERGEY FEDNOV…, Real Estate Pro in Beverly Hills, CA
SERGEY FEDNOV *** 424-777-9377 answered:
How can I locate a RE agent that specializes in foreclosed properties? I'd prefer one that focuses on these.
I'm very familiar with REO

Please feel free to call me 424-777-9377 - i'll be happy to help you out.




Thank you for your time.


Should you have any questions - please f ... more
7 votes Share Flag Wed Apr 11, 2012 Foreclosure in Greater Wilshire / Hancock Park
John Arendsen, Real Estate Pro in Encinitas, CA
John Arendsen answered:
I am on title only and my nephew is on title and loan. He has decided to forclose. May I be held responsible for the loan? Will this affect my credit?
I would definitely contact "Melissa Zavala" , before I'd contact anyone else about a short sale. She is truly the best in the business and she always looks back on the same Trulia threa ... more
0 votes Share Flag Fri Apr 6, 2012 Foreclosure in Los Angeles
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
In California, if my house is foreclosed on, can the lender then come after me for remainder of loan, attorney fees and/or foreclosure costs?
Best advice will be to speak to your real estate attorney on the deficiency. For informational purposes only - if you have to move to another country, you almost have no choice but to ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in 90025
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
what type of document can a trustee provide in order to proceed with a short sale after bkrpcy?
What you will need is the discharge for the bankruptcy. Title may show there was a bankruptcy filed and if you want to avoid an issues with title, provide the discharge - the bankruptc ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in 90025
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
What can an agent in a short-sale do to get more commission after verbal approval by lender and signed counter by seller and buyer?
Short sales are subject to lender approval and we as agents know that we will not always receive the commission we request. An agent that is trying to rework a contract to get more mon ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in 90025
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
I am thinking of allowing my rental property to go into foreclosure. I have been regular with my primary residence mortgage. How will this affect me?
Cristina, sometimes there are circumstances that change your financial situation and in your case perhaps you may be suffering a financial setback, ie., renters moved out and you cannot ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in Los Angeles
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
When does my second loan get notified of a short sale?
Your real estate agent would be able to direct you on the process of the short sale, but just in case you are obtaining a second opinion - yes you must notify 2nd lien of the short sale ... more
0 votes Share Flag Tue Apr 3, 2012 Foreclosure in Los Angeles
Vickie Loftis, Real Estate Pro in Cookeville, TN
Vickie Loftis answered:
how can I find auction listing before go to court invole court location and schdule.can I go to bid by my self?
You need to be careful on these auctions. If there is other liens, then you could be assuming those? Rarely in our area, when a property is auctioned off at the courthouse steps, does t ... more
0 votes Share Flag Mon Apr 2, 2012 Foreclosure in Los Angeles
Jennifer Liao, Real Estate Pro in Encino, CA
Jennifer Liao answered:
Does the short sale go on your credit report?
a) Yes, it would lower your score but you are still credit worthy. Over time, you can raise your score again.
b) You need to consult both real estate tax professional and simply call ... more
0 votes Share Flag Sat Mar 10, 2012 Foreclosure in Los Angeles
Frank, Real Estate Pro in Los Angeles, CA
Frank answered:
Is anyone settling 2nd mortgages BEFORE foreclosure proceedings?
I had a client that settled the second in order to sell the house and be free and clear. He was able to talk them down to 10% and send him a letter showing that he was no longer respons ... more
0 votes Share Flag Thu Mar 8, 2012 Foreclosure in Los Angeles
Frank, Real Estate Pro in Los Angeles, CA
Frank answered:
I am interested in buying a REO property. Anybody is a foreclosure specialist in Walnut/Diamond Bar area?
If you are financing make sure that the agent you re working with is experienced in the type of financing you are buying with. I regularly get people looking for homes that are fixer up ... more
0 votes Share Flag Thu Mar 8, 2012 Foreclosure in Los Angeles
SLDIRECTREO, Real Estate Pro in Los Angeles County, CA
SLDIRECTREO answered:
I do not think that You are understanding the specifics to my last question?
Have you even seen anything in La Crescenta, La Canada lots? oh no wait, a named real estate company had to CHANGE their BROKER and Forced to re organize in order to keep their office. ... more
0 votes Share Flag Thu Mar 1, 2012 Foreclosure in Los Angeles
NANCY CELIS, Real Estate Pro in Whittier, CA
NANCY CELIS answered:
I had 2 lien holders on my foreclosed house. My house got foreclosed in 2010 around May to June. The 1st lien holder (Gmac) has wiped out the loan
Consult with an attorney, second liens have a tendency of trying to collect from the homeowner. You may have to resort to a bankruptcy if all else fails.
0 votes Share Flag Sun Feb 26, 2012 Foreclosure in Los Angeles
Heather Paul, Real Estate Pro in Santa Monica, CA
Heather Paul answered:
What is the best strategy for pursuing the purchase of a property when the 2nd is foreclosing? The sale is scheduled soon so I need to act quickly.
The first mortgage company may have paid them or the seller, but most likely it was the first mortgage. Only consider bidding on properties when the first mortgage is foreclosing or yo ... more
0 votes Share Flag Mon Feb 20, 2012 Foreclosure in Los Angeles
Richard Schu…, Real Estate Pro in Los Angeles, CA
Richard Schulman answered:
What is the best way to purchase a foreclosure in Los Angeles?
Foreclosure listings hit the market in the same way standard sale listings do. So it is important to get set up on a search for your desired criteria, so that you can be immediately not ... more
0 votes Share Flag Sun Feb 19, 2012 Foreclosure in Los Angeles
Renee Kische, Home Buyer in Los Angeles, CA
Renee Kische answered:
what does a combination lock mean on a property thats going into foreclosure?
Most likely the property has been sent back to the bank (REO), however, as having worked in REO as an RDCPro agent, banks I have worked with always have the property vacant before havin ... more
0 votes Share Flag Mon Feb 13, 2012 Foreclosure in Los Angeles
Mimi Davies, Real Estate Pro in Los Angeles, CA
Mimi Davies answered:
When is it too late to do a short sale for someone?
Hi Roy,

Short sales have proven to often be a lengthy process that comes with its share of frustration.

When approaching someone to do a short sale, you must be vigilant in quali ... more
0 votes Share Flag Wed Feb 1, 2012 Foreclosure in Los Angeles
Charles Folc…, Real Estate Pro in North Tustin, CA
Charles Folcke answered:
who is the owner the new owner of this house 991 e 43rd pl los angeles ca 90011?
The property has still not been listed again. Banks are backed up and slow to put things back on the market. Look at the mls regularly and do a search for this address.
0 votes Share Flag Sun Jan 29, 2012 Foreclosure in 90011
Charles Folc…, Real Estate Pro in North Tustin, CA
Charles Folcke answered:
how does a forclosure affect a married couple if only one person signed for the home. and if the spouse has her own home.
If the property is held exclusively in the one person's name, then that person is the one who will be held responsible and will have their credit rating most severely affected.
0 votes Share Flag Sun Jan 29, 2012 Foreclosure in Los Angeles
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