In California the timeline of the foreclosure process is controlled by law. That applies to mortgages from Etrade and any other lender.
When you are delinquent on your mortgage the lender may file a Notice of Default. Lenders often wait until borrowers are 90 days or more behind on their loans before filing an NOD but they do not have to wait that long. Filing of the NOD starts the clock running.
A Notice of Trustee Sale can be filed three calendar months after the filing of the NOD. The NTS sets the date of the sale of the property (foreclosure date).
The Trustee Sale Date must be at least 20 days after the recording of the NTS.
So…from the filing of the Notice of Default to the trustee sale of the property could be less than four months. The lender can also postpone the auction.
Of course, the borrower can stop the auction up until just a few days before by paying all of the delinquent amounts plus fees.... more
Just trying to help you get better responses from agents. We get requests like this from time to time. A lot of times, it's from people who really are not able or ready to buy a home.
If you are ready, sit down and think of what areas are of the MOST interest. I have yet to find a buyer who says they are interested in a condo in Fallbrook OR one downtown - very different communities and features.
Then think about what you want (think "at a minimum"). In other words if you say 3 bedroom, and you miss out on a great 2 bedroom with loft, remember you wanted MINIMUM 3 bedroom. Do this for bathroom count, square footage, yard/no yard, HOA fees, mello-roos/no mello roos, age of property etc.
Once you have finished your list contact a real estate professional and they will be able to help you find homes that meet your criteria.
Not so much out of the box answer but it seems to work: Ask the listing agent what's important to the sellers.
I have found that some of the answers may not even be related to money - 'someone who will enjoy our home as much as we have' has been one. Other times it may be closing timeframe. And yes, some we can not battle - all cash vs VA.
Do not send this person ANY money. This certainly sounds like a classic scam, and unless if you want to go into researching it to the core, I would drop this place and move on. Don't waste your time and money. It's always important to feel 100% comfortable with your transactions. If your instincts tell you that something is fishy, (particularly when they are asking you to wire money) it probably is. I wish you the best of luck with your search!
HB Roswell Realty
There are several things you need to think about when writing an offer in today's market - which has accelerated and is fueled by low inventory and low interest rates (which are climbing slowly but surely).
1. There aren't many great deals left to be had - if they are out there, they are usually snatched up by cash buyers in multiple offer situations and many are being sold by networked realtors who sell it to a their own client before it even goes on the MLS.
2. A short sale is usually already discounted by the listing agent to account for the fact that a buyer has to wait around to be approved (the discount is to keep the buyer in the deal). And, as mentioned by other agents below, some listing prices are intentionally lower to create a buying frenzy and get the home sold quickly. The kiss of death to a short sale seller is if the buyer walks away after months of waiting and they have to start all over again, the seller risks foreclosure - so the sooner it gets sold the better.
3. Make your offer as strong as possible within the fair market value of the home - this is not determined by Trulia or ZIllow or any such site - you need a realtor or appraiser to do a market analysis.
4. A seller wants to see cash or a conventional offer with 20%+ down - there's less risk of the deal falling apart - and cash means no appraisal. FHA & VA offers are less desirable because of stringent condition requirements; but I've still had success if I build rapport with the agent and make a strong offer.
5. Make sure you have a great pre-approval letter, strong earnest money, show proof of funds and work with an agent who is not afraid to call the listing agent directly and establish personal rapport . When agents are getting multiple offers it might help yours if the list agent feels your agent is professional and competent - so they won't have to do the work of two agents and have to keep checking up on your agent.
6. Remember - it is always in your best interest to work with a realtor on the buying side - it costs you nothing and you have a duty-bound agent looking out for your best interests. A great agent will let you know whether the offer you are suggesting is worthwhile or not. In the San Diego market right now, to come in at less than the listing price is simply a waste of your and your agent's time (especially if you know there are multiple offers) - unless there's something obviously wrong with the property and the comparables show it's over-priced. Again - the short sale seller has everything to lose and faces foreclosure if the home doesn't sell quickly - so in my personal experience in SD, short sales are often the best deals - as long as you can wait for up to 4 months for approval from the banks.
Wow - I went a little crazy on my response but I feel it's important to let buyers know how competitive this market is. Setting expectations is an important part of my job. In many parts of SD, prices have gone up 10% or more in just the last 3-6 months (some areas show almost 30% increases). So the home you bid $350k for today, could easily sell for $385k+ in 3-6 months (to me, that's a pretty safe investment). Right now, many buyers face being priced out of the market in up to 6-12 months if prices continue going up AND, if interest rates sneak back up .25 to .5% - it will accelerate that process because higher rates mean higher monthly payments and you may no longer qualify.
Good luck with it all!!
The Ruth Pugh Group
One of the biggest advantages of buying an existing home is that you can determine the long-term value of the home more easily than you can with a new home.
Also, you can know more about the schools, your potential new neighbors, and the area before buying the home. In a newly-constructed subdivision, all of those factors are unknown.... more
Fico is one thing... But there are SPECIFIC guidelines that relate to foreclosure... And there is no range in terms of timeline, these are very well established guidelines, and pretty cut and dry...
Again, Foreclosure is 7 years conventional, 3 years FHA, and 2 years VA... Meaning, you have to wait these time periods before you do these types of loans...
Obviously a foreclosure can affect your credit, but that is a whole different issue. The foreclosure guidelines are the ones that I stated above in this post, and below in the previous one...
You don't have to just look at our Trulia bio to choose a Realtor, feel free to interview a few agents over the phone. Assuming the candidates are equally qualified, ultimately you want to go with someone who you feel comfortable with, that understands your goals and is easy to work with.... more
Looks like a lot of us in here have a lot in common. I was born and raised in San Diego, lived in the Big Apple for over 10 years and my relatives have lived in Ft. Lauderdale for years, so I have spent a lot of time out there. While thankful for these wonderful experiences, there is no place I'd rather call home than San Diego.
As for Trudi's support for a place downtown, I can tell you that I represented a couple who live in North County Inland, but wanted a "stay-cation" place. They ended up with a place in the Marina District and couldn't be happier. It is easy to maintain, no yard work, close to shopping and restaurants, views to die for, and just a general buzz around there you can't find in the "burbs". The one downside I see, of course, is the relatively high monthly fees.
Now, specifically addressing your question, I'd figure out what your true passions in life are and that should directly affect your living situation. No matter what, I'd suspect that baby boomers want things to be easier as they add years to their life: no stairs, limited yard maintenance, smaller/easily manageable properties, ease of access to airports for those looking to travel, et.al.
I look forward to that day, but in the meantime, I'm going to keep living the dream in America's Finest City.
All the best in whatever it is you end up doing!
Chad Basinger, REALTOR®, CPA, CFP®
We would say "it depends" on the following:
1. The loan servicer (WF, B of A, Chase, etc) and their terms with the investor.
2. The investor on the loan, the individual or group that actually owns the loan.
3. The current loan balance, is it over $625,500 which is the maximum Federal Housing Finance Agency (FHFA) for "permanent" high-cost areas for SFR.
4. The status of your payments, current, late, very late, NOD filed, etc.
5. The level of communication with the loan servicer and the loan holders time and commitment to pursue the negotiation.
Hope this helps,
Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506... more
May I suggest you visit RentSenseBlog.com to educate yourself on investment strategies to establish your paramenters. You will also obtain valuable advice on common issues that arise during the ownership and/or operation of local rental properties. We provide Rent Sense as a published column in numerous publications along with this website as an ongoing service to independent rental owners and their renters. For more than four decades we have provided quality rental housing while specializing in the investment strategies and management practices that deliver results consistently and constanly. We currently operate rental properties in 69 zip codes throughout the region. Neil... more
Hi Maria-- I went to the transit site and here is what I see-- There is a bus stop right on Del Sol Blvd. I entered the address 3340 Del Sol without the unit number. The transit routing information says it is about a minute to the stop from 3340 Del Sol. It will be a bit longer depending up on where unit 97 is located.
What we have here is called a trolley for mass transit- not Rail-- In any case the closest trolley stop is pretty close at the Iris Station- The transit information says that the trolley stop is about 3 minutes and 3 stops from where you get on the bus. Looks like less than a mile away. The public transit program in San Diego is good and the trolleys are especially good if you want to go downtown San Diego.
Best wishes and good luck on your consideration of San Diego's South Bay area!... more
I sympathize but this does happen . . . thankfully, rarely. Anyone can do whatever they want . . . sometimes with consequences though if someone chooses to pursue the offending party. Contracts are agreements made in good faith by all parties and aren't worth much if someone chooses not comply. It's the free will thing. Similarly, there's nothing physically stopping someone from running a red light. Best wishes to you. It's not a good situation.... more
Every time I travel and I am asked 'where are you from?" and I answer San Diego, CA. The person sinks a little bit and replies "You are so lucky, I love San Diego".
My prediction, I will hear this many more times in my lifetime.... more
You are embarking on a fruitful and rewarding journey. You should be able to the find help and guidance you are seeking for FREE at http://www.sdcounty.ca.gov/sdhcd/. If have any additional questions please feel free to contact me I am long time resident of both San Diego and Virginia Beach my name is Robert H. Ashburner, Jr. NMLSR 607856 I am with Monarch Mortgage 2809 South Lynnhaven Road, Suite 200, Virginia Beach, Virginia 23452; 757-652-5851 firstname.lastname@example.org. I also still have friends in SD that can also provide some direction. Stay focused and you will achieve your goal of homeownership.
Robert H. Ashburner, Jr.
2809 South Lynnhaven Road, Suite 200
Virginia Beach, Virginia 23452
(757) 652-5851... more
There are a variety of reasons for this type of action and none of us can accurately describe the effect on your curb appeal.
Trees are removed for any of the following reasons (and more):
1. The roots are loose in the soil, could fall and cause damage
2. The roots of the tree are invasive and are/could damage the property, water lines, etc.
3. The trees are diseased and pose a risk to other trees or vegetation
4. The trees have grown too large for the area
5. The trees have grown into a public right of way
6. The area has been reviewed by the City who have posed the trees make cause damage to public property
And the list goes on. Call the HOA and ask why the trees are being removed. In most cases there is little you (or other homeowners) can do as their reasoning for these actions are usually outlined in your HOA docs you received when you purchased the property. In other words, they act within their legal rights to do so.
Best of luck,
Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506... more
Frank, I don't know what you are going to decide, but I wanted to drop a line and vouch for semper fi homes. They do a phenomenal job for veterans both in the real estate arena as well as helping veterans charitably.
I am not affiliated with them in any way, but if you have questions, they are a great resource...... more
I agree that is a very broad statement. Are you speaking of the contingencies in a normal contract or when a property is contingient on the MLS?
All contracts have contingiencies and you have to think of them as deadlines you must meet within a specified time and then move on getting closer to owning your home. A good negotiator will help you achieve that goal. Inspections and Mortgage Contingencies are the two most difficult. If you have been qualified by a good lender you will know how much you can afford. As to the inspections you have to decide if its worth it to you and how well your Realtor can negotiate for you.
I think you are speaking of Contingent Properties on the MLS. This is something that drives we Realtors crazy and is very frustrating to a buyer who is looking to purchase that home or condo. I get numerous inquiries from buyers who are looking at a specifice property on Trulia, Zillow and others and when I tell them the property is contingient they think they don't have a chance. They don't understand the process of a Short Sale. When a property goes contingient it usually means that the Seller has gotten an offer and is trying to see if the bank will take the offer they have accepted and presented.
In the meantime we as Realtors have to call and see if we can still show it and if the Realtor and Seller are willing to take backup offers. Sometimes they will and sometimes they won't. I always think it is wise to take backups because you don't know what the bank is going to come back at. Usually the offer sent to the bank is too low because the Realtor is doing their best at guessing what the bank will take for the amount thats owed. There are also Realtors who put a lowball price on a property and start a bidding war which is frustrating for everyone. You have to look at it on a case by case basis. If you really want to buy that property its best to use a Realtor and ask them to see if they can get an idea of where you need to be on a back up offer and also pull comparables on the area and complex. If a mortgage is involved the property has to appraise. If someone ahead of you has all cash the appraisal won't matter. This can be a long process but if you want the home push for the backup. I have seen numerous escrows fall thru and my buyer got the property.
I hope this helps and Good Luck!