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Foreclosure in Riverside County : Real Estate Advice

  • All144
  • Local Info6
  • Home Buying81
  • Home Selling14
  • Market Conditions4

Activity 349
Thu Nov 16, 2017
Krista Mullen answered:
I have gone through the same issue with Bank of America. I filed bankruptcy in 2011 and I am going for a mortgage but was told mine was filed in 2016.
0 votes 35 answers Share Flag
Thu Oct 26, 2017
Hdjack2 answered:
How long does a foreclosure affect you I. Buying a new home?
0 votes 12 answers Share Flag
Sun Sep 3, 2017
Robertkim72 answered:
there are various liens that exist beyond the sale at a county tax deed auction. county or city issued abatements are just one form of post-sale debt that survives the tax foreclosure. mechanics liens, there are a few other ucc registered liens that may also be tagged on your purchase as well as various supplemental tax debt from previous years. another thing, if there was an apn change; some debt associated with the previous apn could still be applicable. ... more
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Sat Jul 29, 2017
Bonnieelias4 answered:
we had a bankruptcy discharge the home was not reframed we were working with the lender to modify but they said they didn't have time too evaluate and sold the property through foreclosure sale what do we do now? ... more
0 votes 10 answers Share Flag
Fri Jul 14, 2017
Diana.mancillas asked:
Sat Mar 18, 2017
Kimberly asked:
Tue Feb 21, 2017
Scott Godzyk answered:
Technically you are still responsible unless they discharged it in bankruptcy. You may want to call your bankruptcy attorney. As far as signing a deed in lieu of foreclosure, just make sure they release you of liability, you may need to have a lawyer review this before signing ... more
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Sat Feb 18, 2017
Ba2000x answered:
So. Did you get to keep your house or not?
0 votes 10 answers Share Flag
Thu Jan 26, 2017
Hello Tsunamisue49, yes you should be eligible for the cash for keys program thru the bank that owns the home. They usually offer up to 120 days to find another rental without paying rent or cash for keys to move out within 30 days.

You should check with the local rental management companies for their inventory. How much do you pay in rent for you and your brother?

The rentals in Riverside 92503 zip code start from $850 for 1bd 1ba apt, $1,095 for 2bd 1ba apt and the single family homes start from $1,295 for 2bd 1ba home.

The purchase start from 170k for 2bd 1ba condo and up which you could buy with less than it cost for any rental.

You should study RENT vs BUY options as you may qualify to buy and pay less than rent in many local cities. You may qualify to buy with minimum out of pocket expenses and pay less than rent.

Beware of the many rental scams out there these days on all sites. The scams are on all of the rental listing sites except one that us agents/broker use such as mls, multiple listing service.

You should not give anyone any funds or personal information without confirming with a licensed agent/broker or management company to find out whom you should be dealing with and the status of any address of interest.

If you decide you want to buy you will need to be pre-approved to be able to meet an agent to view and submit offers on any homes of your choice. You will need to gather some documentation for each applicant.

Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, loan program and how much you want to invest into the down payment and closing costs. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

You could consider a down payment assistance program such as CalHFA or Sapphire Grant which can cover your down payment and closing costs. You may close with minimal out of pocket expenses. You may consider the CalHFA from a minimum 640 fico score and the Sapphire Grant from a minimum 620 fico score up to 424k.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down up to 424k. You may consider 3% down conventional from a minimum 620 fico score or even 5% down conventional with NO Mortgage insurance (Lender paid MI) up to 424k.

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0 votes 1 answer Share Flag
Mon May 23, 2016
Breezeyourevent asked:
We received notice on our doors stating that our homes are up for Auction in 3 weeks There are 8 units where i live. We have tried contacting the owner about the situation and of course…
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Sat May 7, 2016
Are you an agent with pocket listing of a Condo which makes good flipper after repairs? Call me 310-691-4868 and lets make a deal! I'll sign a exclusive buyer agreement with you on this…
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Mon Feb 22, 2016
I would research and be sure that no identity fraud has taken place.
0 votes 2 answers Share Flag
Mon Feb 22, 2016
Foreclosures are just a house owned by a bank. If the house has not been thrashed out of spite by the old owner you simply need to write an offer through an agent directly to the bank and financing is available.

If the house is in disrepair you will need to pay cash or obtain a loan that will allow for repairs. FHA has a good program for that the 203K program.

If the house has not been taken back by the lender then you write the offer to current owner.

Many real estate agents can't or wont help you write offers on these as they are not listed with the MLS. As a broker I can help you. If you have a house in mind I do not mind helping you buy it.

Give me a call at 714-968-2500

CA BRE License number 01080071
... more
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Tue Nov 17, 2015
Kathy Lewis answered:
Just check the map below, it was recently updated. Please contact below if we can help.

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Wed Oct 14, 2015
Mikeholifield019 asked:
Sat Oct 10, 2015
Team Metcalf answered:
it is most likely that home values will continue to drop, However i agree with Mr. Zorn as well you are talking about your home. If you wait and purchase at a latter time you might not be able to purchase the home you want. Interest rates could rise and move you right out of the market place. At the present time there are a lot of homes for sale on the market so go pick out the cream of the crop and make your offer you just might get the home of your dreams for the price you want to pay. ... more
0 votes 5 answers Share Flag
Wed Oct 7, 2015
Oangelbaby1972 answered:
Sorry i meant to say much time do the previos owners have to vacate the home once it is sold at auction ? Do they they go through with being evicted or thrown into the street if they have no place to go.? ... more
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