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Foreclosure in Fairfield : Real Estate Advice

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Sat Feb 22, 2014
Shel-lee Davis answered:
If you are the former owner and are asking how much time you are likely to be able to stay in the house, then that depends on who acquired your home at the auction. In some instances a third party, either investor or someone who actually wants to live in the house, acquires the property. More often than not, however, the bank takes the property back. Of the 3 foreclosures in Fairfield yesterday, 2 were sold to a 3rd party and one was taken back by the bank. New buyers and investors tend to move more quickly on getting you out than the banks.

If the sale was done yesterday and you are the previous owner, you now no longer own the home, so I think that technically by law you are trespassing on the new owner's property. You are fortunate because, back before this housing crisis and all the new laws to protect home owners who stopped making their mortgage payments and were foreclosed upon by their bank, the new owner would just come out on the day they acquired the property and change the locks. Someone should be contacting you soon and negotiating with you to move out. If you are the prior owner they will serve you with a 3-Day Notice. If you are a tenant then you might be able to stay for the rest of your lease term or 90 days, whichever is greater. This is not legal advice. I recommend that you speak with an attorney familiar with this area of law and find out your rights.

It is always difficult when you lose your home. Hopefully, the new owner will be willing to work with you while you find a new place to live. Good Luck.

Shel-lee Davis BRE #01817412
Real Estate Consultant
International Real Estate Specialist - IRES®
Senior Real Estate Specialist - SRES®
Certified Home Seller Advisor - CHSA®
Certified Home Buyer Advisor - CHBA®
Member - National Association of Certified Expert Advisors - NAEA®
Certified Distressed Property Expert - CDPE®
RE/MAX Estate Properties
424-2HELP12 (424-243-5712)
myrealestateanswers@gmail.com
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Thu Aug 1, 2013
Sameer Punjani answered:
Hello

John is right, there is nothing active on Applewood, but here are some active / pending / sold properties within a 1/2 mile radius of Applewood. Take a look at any of the active ones and let me know if you need further info.

http://norcalmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Bareis&PRGNAME=MLSLogin&ARGUMENT=7ZVVg5CzMts9EGZpGzx6OkiZAuX%2BnOMBkJg0jQeJg24%3D&KeyRid=1&Include_Search_Criteria=on&CurrentSID=198525380&isPreview=Y&Include_Search_Criteria=on

Thanks

Sameer Punjani
Broker / Owner
mygpsAgent.com
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Wed Mar 27, 2013
Mariam Khugiani answered:
Your probably looking at the Pre-foreclosure list,
Some will come up as foreclosures, some will end up at auction, and some will end up as a short sale or loan modification...
0 votes 3 answers Share Flag
Wed Nov 16, 2011
David Davidson asked:
I lived in a home that was seized by Eminent Domain in the housing and protecting of a material witness in a federal investigation. That home was stolen by a real estate agent, law enforcement…
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Thu Feb 10, 2011
Bob Movin-On answered:
If the property was foreclosed on and title is now in the name of another party you will need to leave, lawsuit or not. Yes they say possession is 9/10's the law but in the case of a home possession mean the title not occupancy. Be careful some day a sheriff or marshal of the court will show up change the locks or remove your property then you will be chasing after that.

Your lawsuit for unlawful foreclosure if by a slim chance you win would net you compensation not the home. If you miss one payment you are in default of a mortgage so over turning even the most botched up case is difficult.

We have about 24 cases in this same situation, some were able to drag out eviction because law enforcement was sympathetic but eventually they were forced out.

Good Luck
Bob Patrick
Buy a home after foreclosure expert
Movin-On LLC
Helping families/people that have lost their homes get back into another in as little as 6 months.
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Wed Mar 31, 2010
Kamal Randhawa answered:
Hello Edwin,

This is a good site to generate leads. Realtor.com, zillow, etc etc. You have to put some hard work in of course. They wont just come to you and if they do come to you, make sure you have full knowledge of your field. I've been doing thing a little over 15 years...I have no problems helping new agents. Call me anytime if you have any questions. Good luck!!

Kamal Randhawa'
Broker
510-932-1066
... more
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Wed Mar 31, 2010
Edwin Alvarado answered:
You need to wait three years to buy again. But there are Hard money Lenders that will lend even if you have a foreclosure. but you need 40% down and bad credit or no credit . The loan is 2-10years and the rate is 9-13%. ... more
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Mon Mar 15, 2010
Edwin Alvarado answered:
Don't foreclose. foreclosing on your property is not the best thing . Try to do a short sale. talk to your tax attorney and he or she will help you make the decision. Why ruin your credit . Put a renter in your property ... more
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