Foreclosure in Torrance : Questions & Answers

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Sheyenne Sch…, Real Estate Pro in Torrance, CA
Sheyenne Schultz answered:
Hi, our home (Torrance, CA 90502) was up for a Trustee Sale on 10/25/12. Apparently it was sold to the beneficiary. How much longer can i stay?
Stay put for now. The beneficiary...which was your servicer who u paid your mortgage payments to
will be contacting you soon. Or, if they gave this as an REO/Bank Owned listing a realt ... more
0 votes Share Flag Fri Oct 26, 2012 Foreclosure in Torrance
DJ Bonner, Real Estate Pro in 90302
DJ Bonner answered:
What does it mean when a foreclosed property's status is "revert to beneficiary"? How much time do we have to move or should we move?
Hello Gvc,

Revert to beneficiary just means that the property went back to the bank. This occurs when nobody bids at the sale or the property did not sell for full value/value set by ... more
0 votes Share Flag Mon Jan 6, 2014 Foreclosure in Torrance
Emily S. Kne…, Real Estate Pro in Huntington Beach, CA
Emily S. Knell answered:
The house im renting sold in a trustee sale but it went back to the beneficary. whats my next step....how much time do i have in that house. san diego
The asset manager for the bank will be contacting you, they will go over to the house as a preservation measure or send you a letter. They may allow you to rent back from them dependin ... more
0 votes Share Flag Fri Feb 17, 2012 Foreclosure in Torrance
John Souerbry, Real Estate Pro in Palo Alto, CA
John Souerbry answered:
My ex-husband is trying to get me to sign a Substitution of Trustee on a property he is trying to foreclose on. Should I be wary? (He's a slick
Tell him you want to show it to your attorney before signing, then follow through and show it to your attorney before signing.
0 votes Share Flag Wed Jan 8, 2014 Foreclosure in Torrance
Sheyenne Sch…, Real Estate Pro in Torrance, CA
Sheyenne Schultz answered:
I have a forclosed property in California in Sept 2009, which I owed $370,000. Part of this is $150,000 that I pulled out after a refinance. The
Hi...That depends. I have a CPA that specializes in short sale, foreclosure and deficit amounts being pursued by banks. She is an expert on this. You may have to show insolvency. Meanin ... more
0 votes Share Flag Wed Nov 17, 2010 Foreclosure in 90503
Scott Aubin, Real Estate Pro in Rancho Santa Margarita...
Scott Aubin answered:
After a foreclosure, is a deficiency judgment permitted in California?
My understanding is it depends on whether or not the loan was a purchase loan. If the loan was a purchase loan, there should be no deficiency judgement, but if the loan is a cash out r ... more
0 votes Share Flag Fri Oct 8, 2010 Foreclosure in 90503
Michael Magaw, Real Estate Pro in 90505
Michael Magaw answered:
Can I stop making payments to my lender once I enter into a "short sale" process?
You signed loan papers stating that you agreed to make your payments. No bank is going to tell you that you can stop making payments. If you do stop making payments, the bank will rep ... more
0 votes Share Flag Fri Oct 8, 2010 Foreclosure in Torrance Beach
Michael Magaw, Real Estate Pro in 90505
Michael Magaw answered:
After trying to get a loan modification since March our lender finally came clean and said we didn't qualify that we should try and re-fi.
Art,

I am a short sale specialist here in Torrance. Honestly, it is difficult to offer advice this way. There are several questions that I would need to ask first. I would be happ ... more
0 votes Share Flag Fri Sep 17, 2010 Foreclosure in Torrance Beach
Carl Snyder, Real Estate Pro in San Diego, CA
Carl Snyder answered:
What does back to the Beneficiary means at a trustee sale?
The foreclosing lender is the beneficiary.
In Nevada, the eviction process is initiated with a 3 day notice to quit after the Trustee Sale is finalized. If there is no response, the n ... more
0 votes Share Flag Thu Aug 6, 2009 Foreclosure in Torrance
Minna Reid, Real Estate Pro in 06107
Minna Reid answered:
Can the new homeowner break into the property the day after my foreclosure sale date and throw out my?
You mean the bank? If you abandoned the property and it is now theirs - sure. However if you are still living there, they would need to evict you first.
0 votes Share Flag Thu May 6, 2010 Foreclosure in Torrance
Dyanna, Real Estate Pro in California
Dyanna answered:
When a trustee sale of a foreclosed property goes "off calendar" what does it mean?
We can not tell you what that means for the long run. Unfortunately, we can really help you much because the bank will not speak to anyone about this file due to the bankruptcy, its ill ... more
0 votes Share Flag Sat May 16, 2009 Foreclosure in Torrance
Shel-lee Dav…, Real Estate Pro in 90274
Shel-lee Davis - BRE #01817412 answered:
Where is the auction taking place for the Shadycroft house 55,300?
Sheyla:

As with most foreclosure auctions in this area, the auction will take place on the courthouse steps (if it takes place at all) at 12720 Norwalk Blvd, Norwalk, CA. Currently ... more
0 votes Share Flag Mon Nov 24, 2008 Foreclosure in Torrance
Adrian Hunti…, Real Estate Pro in Marina, San Francisco,...
Adrian Huntington answered:
30 days late on mortgage w/private lender & he said foreclosure proceedings are starting. What are my options?
If you have some equity left, start refinancing with another private lender. I am assuming you don't have the money to pay current? Send me an email and I will send you the foreclosur ... more
0 votes Share Flag Fri Aug 22, 2008 Foreclosure in Torrance, CA
Deborah  Lon…, Real Estate Pro in Torrance, CA
Deborah London answered:
I have been hoping to find a house in the SW Torrance area. I found a house listed as a NOD...
Hi Shawn. It is not as simple as handing some money over to the bank, having a quit claim deed signed., and suddenly you own the property. There are several other steps to the purchase ... more
0 votes Share Flag Wed Jun 24, 2009 Foreclosure in Torrance
Laarni G. Om…, Real Estate Pro in Orange County, CA
Laarni G. Omingo answered:
There is a preforclosure house on 230th street in Torrance listed at $100K for the loan balance and the list p
Hi Jason,

The question I am seeing on the screen is not quite complete. Please e-mail me and I can check out this property for you and give you an idea on what this property will g ... more
0 votes Share Flag Fri Apr 11, 2008 Foreclosure in Torrance, CA
David M. Korr, Real Estate Pro in Quakertown, PA
David M. Korr answered:
How to get REO listings?
Contact the Banks/Lenders directly and ask how to be on thier list for REO. There is an individual responsible for them. You will need to be able to maintain the properties (mowing, ele ... more
0 votes Share Flag Mon Aug 20, 2012 Foreclosure in 90503
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