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Foreclosure in Irvine : Real Estate Advice

  • All420
  • Local Info27
  • Home Buying189
  • Home Selling15
  • Market Conditions12

Activity 25
Mon Oct 19, 2015
Assuming your property is in California.

Basically there are two periods, I am assuming you already have a Notice of Default (NOD). Many of those have a projected sale date on them, but it is not required by law.

After a 90 day period you will get a Notice of Sale, it will have 25 days from that time until it is sold. You may no longer wait until the day of the foreclosure to sell. The Notice of Sale will have the Sale Date on it.

Years ago, I used to work at BofA where my job was to interact with people that were in loss mitigation. As a way to to give back I help people like you who are in foreclosure with a FREE CONSULTATION.

I do not give legal or tax advice, I give practical advice. I can help you answer questions like:

1. What can you do about the foreclosure?
2. If it is possible to delay or stop the foreclosure, how would you do that, why would you want to do that and is it a good idea to do that?
3.What are your options, should you ask your bank for a forbearance, a loan modification, a short pay, a deed in lieu?
4. How do you avoid the tax consequences if you lose your house.
5. Being the guy at the bank, I saw the most effective ways that people in foreclosure and of financial distress used to negotiate with the bank

Basically I start by reviewing your situation to help you make some common sense decisions.

If you would like me to help, again it is free of charge, I have never gotten any business out of doing this though I potentially could. I really offer to do it to help.

Give me a call if you would like. 714-968-2500
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0 votes 1 answer Share Flag
Tue Sep 1, 2015
Mrquaint asked:
Sat Jul 18, 2015
Hello Terranceeembry14, you did not include an address or link to know which condo you are inquiring about? If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment you are looking to achieve you can be emailed listings to study and compare.

The purchase in Woodbridge start from 237k for 3bd 2.5ba condo and the single family homes start from 389k for 4bd 2.5ba which is as low as $1,200 down payment with a minimum 640 fico score @237k.

You will need to be pre-approved if you decide to buy and to be able to meet an agent to view and submit offers on any homes of your choice. 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.

You may qualify FHA from fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program from a minimum 640 fico score up to 417k. 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 417k.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
REO & Short Sale Specialist
Credit Repair At No Cost
ALL Loan Programs Available
22+ Years Experience
BRE# 01140252
NMLS# 297251
9am till 5pm by phone Monday thru Saturday, Sundays by appt., EMAIL ANYTIME 24/7 or

If my response was helpful, consider clicking Thank, Link or Best Answer.
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0 votes 1 answer Share Flag
Thu Jul 9, 2015
What is your question?

I do not check replies, so if you have a comment or question email me here:

Alex Greer
Loan Officer
NMLS #1056079
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0 votes 1 answer Share Flag
Thu Feb 26, 2015
Banks are required to list foreclosures with an agent. There is no reason to try to figure it out yourself you will not save any time or money,

But you need a knowledgeable agent.

Is it in Irvine or NJ.

If it is in Irvine, contact me with the address I can try to get the property for you.
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0 votes 1 answer Share Flag
Wed Aug 13, 2014
Micah Matson answered:
Which property are you speaking about?
0 votes 2 answers Share Flag
Sun Apr 6, 2014
Shel-lee Davis answered:
The "bank owner" of a condo will not speak directly with a buyer. Once they have taken title to the property and completed their internal paperwork, they will list the property with a real estate broker and that broker will put it on the MLS. At that time, you will be able to make an offer on the property.

The are a few exceptions to this rule. For example some Fannie Mae owned homes will be listed on the Fannie Mae website BEFORE they are listed on the MLS. But these are exceptions and they are few and far between.

Your best bet to acquire a bank owned property is to get yourself representation by a local Realtor who knows the market and preferably most of the REO Agents. That should increase your success rate significantly.

Good luck on your home buying journey.

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)
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1 vote 1 answer Share Flag
Wed Mar 12, 2014
Chris Kwon answered:
Hi Dainghiahiep -

There's currently 1 property on Cornwallis that is for sale but it's not a Foreclosure. If you are looking for foreclosure properties in the Northwood/Irvine area, feel free to contact me. I'm a local Realtor/Resident in the area and I'm very familiar with the market!

Chris Kwon
The Boutique Real Estate Group
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0 votes 3 answers Share Flag
Mon Nov 11, 2013
Fariba Zargar answered:
Mon Oct 28, 2013
Sheila Tucker answered:
To answer that question - I can say look no further - I am the agent to help you with that property. I have all the pertinent information for that property - it is most beneficial to you to hire an agent that knows the area and type of property that it is. It just so happens my office is around the corner from that home and I know a lot about it. Feel free to contact me at your convenience so that we can schedule a showing and I can give you all the information on that property. ... more
0 votes 11 answers Share Flag
Wed Oct 23, 2013
Jacques Goulet answered:
Hello Jacqueline,

I am writing to you in regards to your inquiry on the Cornwallis property. It's set go to Auction on Nov 9, 2013, this particular property has been owned by the same owner for quite a long period of time chances are it will be delayed do to the fact that there is still quite a bit of equity in the property and that the owner will either come up with the funds or even possibly sell it.

I dont see this home ending as a foreclosure do the fact that the original loan was issued by a failed bank.

In order to know what type of liens are on this property you'll have to get what's called a preliminary title report, this will show you any liens, back taxes and so forth.

If you have any additinal questions please feel free to call me at 949.629.0295 and I will be more than happy to assist you.

Looking forward to hearing back from you!

All the best,

Jacques Goulet
The Stepenian Realty Group
BRE# 01927236
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0 votes 4 answers Share Flag
Thu Sep 12, 2013
Nicole Fedorchek answered:
To which property are you referring? I would be happy to assist in obtaining the reports you are seeking!

Nicole Fedorchek, Realtor
Tarbell, Realtors
714-914-5097 ... more
0 votes 5 answers Share Flag
Sun Oct 21, 2012 asked:
E-303-353 11281 Chapman Ave Garden Grove Ca 92840 postponed to 11/19/2012
when will you update your web site to reflect this change?
0 votes 0 Answers Share Flag
Sat Oct 13, 2012
My NC Homes Team answered:
Other than pricing is there a reason you're focused on foreclosures? I want to caution you that buying foreclosures presents your to a greater level of risk and in addition rarely are they the deals most buyers think they are.

I don't work in California, but have been a full time broker for over 20 years and have been buying, renovating and selling real estate for close to 35 years. early in my career I used to list foreclosures (i gave this up quickly as I couldn't stand the arrogance and sheer stupidity of the asset managers I dealt with) and now will only handle foreclosures on the buyers side. I have a lot of familiarity with foreclosure sales and have blogged about this subject in the past. I've attached a link below that i encourage you to check out as you consider buying a foreclosure home.
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0 votes 11 answers Share Flag
Sun Oct 7, 2012
Harrison K. Long answered:
Lenders are being very careful to follow their plans to release properties to the foreclosure pipeline here at Orange County, CA.

So we do not expect any "flood" of foreclosures - either into the pipeline or after foreclosure when properties are either purchased by investors or taken back by lenders as REOs.

Orange County home selling markets need more listings and would welcome all possible REOs.

Harrison K. Long, Realtor and broker associate, Coldwell Banker Previews, Irvine, CA.
CA DRE 01410855
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0 votes 10 answers Share Flag
Thu Oct 4, 2012
Emily Knell answered:
I can look up the recorded documents for your property RIGHT NOW, I just need your property address, I have a quick & easy way to do this by using my account within the title co. I use with all of my deals.

You may have an NOD filed because if you're doing "trial loan mod" payments, because you're not making the FULL payment, even though you're trrryyyying to get a loan mod, the bank still looks as this as "you're missing payments", hence the NOD. I have seen this happen time & time again.

If your bank doesn't grant you a viable loan modification that makes financial sense for the long term (30yrs) within a MAX time period of 90 days, your chances of getting an actual loan mod is about 1%. Banks are NOT interested in granting loan mods that truly make sense. Put it this way, it only took the bank 2-3wks to analyze your income / assets, credit etc in order to grant you the loan in the first place & now they drag their feet.

Shoot me an email directly, I can help you, either way. I don't look back on this same Trulia posting for answers after mine.

Emily S. Knell
562-430-3053 c
Realtor Since 1996
Realty ONE Group
100% short sale success ratio
& I can Prove it
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0 votes 5 answers Share Flag
Mon Aug 6, 2012
Michael Kim answered:
Homes "in foreclosure" can mean different things. You might be referring to properties that are going to auction, REO's (bank owned), short sales, or even homes that may be foreclosed on in the next 3-12 months due to delinquent payments.

It is possible to buy a home in any of these stages, but the process would be different for each. Let me know if you would like some more details.

All the best,

Michael Kim, MBA
Modern Realty
DRE no: 01820612
Direct: (714) 337-1531
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0 votes 17 answers Share Flag
Wed Nov 16, 2011
That is part of buying a short sale, cleaning up someone else’s wreck. No one is obligated to take less than owed in this process, If the seller and lender are not going to help, there may not be a solution short of foreclosure.

Info on Lease Options:

Info on the criminal side of Credit Repair:

Info on Down Payment Assistance in Kentucky:
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0 votes 20 answers Share Flag
Mon Nov 14, 2011
Lazaro Madrid answered:
Hello Emy,
Any Real Estate Agent / Realtor can show you any Foreclosure, REO, Repo or Bank Owned property.

Best regards, Lázaro M Madrid

California Realty
9917 Walker Street
Cypress, CA 90630

Serving all your Real Estate needs in The Greater Anaheim Area,
Long Beach, Huntington Beach, Fountain Valley, Costa Mesa
North Orange County, South Orange County, an Bernardino,
Riverside, Los Angeles Counties.
SFR, Condos, Lofts, Town homes, Business and Commercial Properties.
R.E.O., Short Sale and Foreclosure expert.

Lázaro cell: (714) 328-5683 (Tambien hablo español)
Office: (714) 527-9011 Ext 229
Fax: (714) 527-7560
Department of Real Estate License #01378799
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0 votes 7 answers Share Flag
Wed Jun 23, 2010
Lisa Meszaros answered:
Hi Dilinger,

I work in this area, have lived in Irvine since 1986 and specialize in REO properties. Please give me a call or shoot me an email with your price and other requirements (assuming a condo, 2 bedroom, not too big but big enough to get renters when you're done with it) and I will find you something. I currently have 2 condos in the Lake Forest area, close to where you're talking about, near the toll road, too. If those don't work for you, we'll find you something else.

Lisa Meszaros
(949) 387-9489
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0 votes 6 answers Share Flag
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