You answered your own first question: There is a businessman that thinks some Rio Linda homes are good investments at their current prices.
The answer to your second question is more complicated. Much more evidence than you have written would need to be presented to accuse a person of breaking a law.
In the United States, we have a presumption of innocence of persons suspected of wrongdoing. - If you have a detailed case to tell, you might wish to consult with an attorney to get an answer to your second question.... more
Not necessarily. If you're interested in seeing a home that has been removed from the market but has not sold, simply contact the agent who had it listed to see if the sellers are still interested in selling. If you don't have the agent's contact information, I would contact a buyer's agent and ask them to look it up in the MLS for you. That agent can act on your behalf to contact the seller's agent.
I don't know how listings are going in your area, but in Colorado, our listings are way down and our sales are way up. What that means for buyers is, if you find a home that you like, you'd better make an offer quickly. Many of our listings are getting multiple offers and/or are selling within one to two weeks.
Don't wait much longer to get serious. It could mean losing out on the lower prices that we still have and who knows what might happen to mortgage rates over the next year.
Good luck to you.... more
Buying investment property is risky, but can be rewarding. Finding the right balance is the key. The risks are long vacancies, bad tenants, deferred maintenance, overpaying, just to name a few. The rewards are buying a home with acceptable cash flow that appreciates, has solid tenants who pay on time and treat the home as their own. Over time your cash flow improves, the home appreciates and you have a good long term investment.... more
Watch out, not many loans can be assumed and there usually is at least a 2 to 3 year period to wait to be able to obtain a loan after filing a chapter 7. I would suggest that you meet with a competent lender or mortgage broker and don't pay the seller anything without going through the proper escrow so they are not trying to get money out of you and then "flee". Federal rules will keep you from being put "out into the street" depending on how long your lease is. Best of Luck. RondaLea in Arizona... more
You will need to ask the homeowner to disclose such information, not sure any of us will know the accurate answer--to see if the property is in a flood zone, see link for additional information.
There are two listings of home with acreage in Rio Linda in MLS that offer owner financing. The 2200 square foot house on 2 acres is listed at $440,000. Another listing is a 2060 square foot house on 1.2 acres, priced at $198,999 (with additional acreage available for more money.... more
According to the MLS it has been Sale Pending since 7/19/2010. It was listed as a short sale and pending means the bank must have approved the short sale. Now they are just finishing the purchase.
It's listed at 59K... more
In order to satisfactorily answer your question much more information is needed. However, if your question is, "I was paying my rent while the landlord was in preforeclosure and not paying his mortgage. Do I have a claim against the landlord for return of those rent monies?" the answer, for those residing in New Jersey tends to be no. The laws of California may be different so it is best you contact an attorney. One of the reasons why the answer tends to be no for New Jersey residents is because their lease is not contingent on the landlord paying his mortgage. However, if the landlord is no longer in possession of the property, i.e. the home was foreclosed on, attempting to collect rent may constitute fraud. Again, it is best if you contact a contempt attorney.
Let me know what advice you receive from legal counsel.... more
I am sorry to hear what you have been going thru and it must be hard for you and your family. I understand how you feel. You have done the right thing of consulting an attorney of the situation. You now should try to re-establish your credit and set a goal for purchasing another home for the future. You have done it once and believe yourself that you have the ability to create a new home again; sometimes, getting stuck in past of what, why & how it should not have happened might cost you more in the future.
Wish you all the best... more