Foreclosure in 90029 : Questions & Answers

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Dianne Hicks…, Real Estate Pro in Temecula, CA
Dianne Hicks (951) 514-5709 answered:
how long does it take for a bank to accept a bid to purchase a home?
Kathy
In my experience banks,

Bank owned properties....some respond within a couple of days and some it takes a few weeks.

Short Sales - WOW... get you patient hat on. some (no ... more
0 votes Share Flag Sat Feb 6, 2010 Foreclosure in Los Angeles
Grant Linsco…, Real Estate Pro in Los Angeles, CA
Grant Linscott answered:
duplexes/apartments buildings in los angeles 200...500.000 price range ? I am looking for an investment opportunity. Will fix up w/cash flow?
Hi Robbie,

You will want to consider all expenses when it comes to these properties including insurance, water, vacancy rates and market rents in the area. Also, are the units separ ... more
0 votes Share Flag Mon Feb 22, 2010 Foreclosure in Los Angeles
Grace Morioka…, Real Estate Pro in Sunnyvale, CA
Grace Morioka (408-426-1616) answered:
Do I need the full amount of the winning bid in a foreclosure auction in the form of a cashier check before the auctions starts?
Hello R:

Typically, when people participate in a Trustee Sale at the courthouse steps, the bidders will bring several cashier's checks in different denominations--like dollar bi ... more
0 votes Share Flag Tue Dec 15, 2009 Foreclosure in Los Angeles
Grace Morioka…, Real Estate Pro in Sunnyvale, CA
Grace Morioka (408-426-1616) answered:
I'm buying a REO and in escrow now. Have removed all contingencies, how can I get out of escrow without losing my deposit?
Hello Rob and thanks for your questions.

The act of removing all contingencies is written acknowledgment by you, as the buyer, that there are no further impediments to the completion ... more
0 votes Share Flag Mon Dec 14, 2009 Foreclosure in Los Angeles
Grace Morioka…, Real Estate Pro in Sunnyvale, CA
Grace Morioka (408-426-1616) answered:
What is the INSTRUMENT number of a property? What information can I get with that number?
Hello R and thanks again for your post.

The instrument number is the recorder's method of identifying a document. For example, a property deed is normally recorded and is assig ... more
0 votes Share Flag Fri Aug 16, 2013 Foreclosure in Los Angeles
Mia Melle, Real Estate Pro in Claremont, CA
Mia Melle answered:
bought a new condo with tenants, what is the legal maximum length the tenant can stay with my notice of vacate?
Hi there Abchome,

First off, Congratulations!! on your new purchase. The anwer for your question may be dependant upon how you purchased the property.

If it was a regular sale ... more
0 votes Share Flag Wed Dec 2, 2009 Foreclosure in Los Angeles
Jeffrey White, Real Estate Pro in Beverly Hills, CA
Jeffrey White answered:
WHAT IS DIFFERENT OF REALTY AGENT AND BROKER?
A realtor is a sales person or broker that is a member of NAR, National Association of Realtors. A Broker is one that has the ability to employ sales associates and run their own compan ... more
0 votes Share Flag Sun Nov 29, 2009 Foreclosure in Los Angeles
Sean Dawes, Other/Just Looking in Philadelphia, PA
Sean Dawes answered:
I am looking for a take over payment condo 2 bedroom 2 bath around $700 a month in payment in the Los Angeles, CA. My credit is not pleasant, but I
Where exactly does your credit fall?

I would not necessarily just go with the first buyers agent who chimes in here or the first mortgage rep. Go under the find a pro feature and in ... more
0 votes Share Flag Thu Nov 19, 2009 Foreclosure in Los Angeles
Phillip Fiew…, Real Estate Pro in Oakland, CA
Phillip Fieweger answered:
Help! My husband & I put in an offer on a short sale in July and have been ?patiently waiting for a response. We recently got ok'd from the
When a house is put on the market as a short sale the purchase contract has to be ratified or agreed to by all lenders before you are in a binding contract with the seller. In the meant ... more
0 votes Share Flag Sun Nov 29, 2009 Foreclosure in Los Angeles
Phillip Fiew…, Real Estate Pro in Oakland, CA
Phillip Fieweger answered:
short sale only option bank gave me to avoid forclosure i had no income, need time to find income so can modify.bpo better high or low for my motive
If I understand what you are asking, then a short sale won't give you more time before your lender(s) foreclose on the property unless they agree to give you more time before they ... more
0 votes Share Flag Thu Nov 12, 2009 Foreclosure in Los Angeles
Stan Batters…, Real Estate Pro in Phoenix, AZ
Stan Battersby answered:
How do I find out when real estate auctions are being held at the Norwalk Court? And how do I know if the property I'm looking for will be there
If your working with an Agent they will know when there is an auction and they will also make sure you know what the property is worth
0 votes Share Flag Sat Oct 17, 2009 Foreclosure in Los Angeles
Emily S. Kne…, Real Estate Pro in Huntington Beach, CA
Emily S. Knell answered:
how an investor can buy the 2nd heloc from a bank.?
The house is upside down. Please Clearly Listen to me when I tell you that Banks are NOT reducing principal balance on 1st Liens. The 1st loan may be modified likely for a period of 5 ... more
0 votes Share Flag Tue Oct 6, 2009 Foreclosure in Los Angeles
Don Tepper, Real Estate Pro in Fairfax, VA
Don Tepper answered:
I am a renter. Just found out landlord is $19,000 behind. Just had a notice of trustee sale taped on door. Should I stop paying rent? She obviously
Do not stop paying your rent. You and your landlord have a valid contract--the lease. She's obligated to fulfill the terms of the lease (provide you housing) and you're obliga ... more
0 votes Share Flag Tue Dec 8, 2009 Foreclosure in Los Angeles
Dan Ortega, Real Estate Pro in Los Angeles, CA
Dan Ortega answered:
Can you take over payments with bad credit?
Hello,

Do you mean take over someone's mortgage? If it's an assumable loan then you might be able to, would depend on the lender. You'll want to have that conversation ... more
0 votes Share Flag Sat Oct 3, 2009 Foreclosure in Los Angeles
Emily S. Kne…, Real Estate Pro in Huntington Beach, CA
Emily S. Knell answered:
What rights do I have buying a house with tenants in it who are on a lease agreement for the next 6 months? I want to move in ASAP. Thank you.
You have no rights if the tenants have a valid lease agreement with the owner who is on title.

What you do have is the ability to buy them out. Cash for keys. This is what banks do ... more
0 votes Share Flag Thu Sep 24, 2009 Foreclosure in Los Angeles
Tammy Vivat -…, Real Estate Pro in San Diego County, CA
Tammy Vivat - Broker #01465018, REALTOR, CRE, REW, Global Relocation Specialist, answered:
how or where can I start, so I can open an account with a lender to do BPOs,?
You must first get intouch the loss mitigation department head at a banks corporate headquarters, ask for contact info for the asset management company who is handling loss mitigation ... more
0 votes Share Flag Sat Sep 18, 2010 Foreclosure in Los Angeles
Grant Linsco…, Real Estate Pro in Los Angeles, CA
Grant Linscott answered:
Should a buyer go directly to the L/A rather than their buyer agent to receive some perceived advantage in the short sale process?
I agree that the listing agent on a short sale holds most of the power, however I believe that working ethically you will want to obtain the strongest offer (price, contingencies etc) r ... more
0 votes Share Flag Fri Oct 2, 2009 Foreclosure in Los Angeles
D S, Real Estate Pro in Coronado, CA
D S answered:
Once the BPO is completed, what is the average wait time afterwards to hear a response?
Hi Destiny, you simply don't know...every bank is different and it also depends if negotiator has been assigned or not. Have your agent talk to the listing side and see how far the ... more
0 votes Share Flag Thu Sep 3, 2009 Foreclosure in Los Angeles
Deborah Brem…, Real Estate Pro in 90049
Deborah Bremner answered:
Are there any foreclosure tours scheduled for next week (monday-thursday) in So-Cal?
What do you mean by Foreclosure Tours?
Debbie Bremner
The Bremner Group
Coldwell Banker
0 votes Share Flag Fri Aug 28, 2009 Foreclosure in Los Angeles
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