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Foreclosure in Milpitas : Real Estate Advice

  • All222
  • Local Info13
  • Home Buying124
  • Home Selling12
  • Market Conditions7

Activity 8
Sat Jun 25, 2016
Bazdlad asked:
2191 Wellington Dr Milpitas, CA 95035
0 votes 0 Answers Share Flag
Wed Oct 16, 2013
The Medford Team answered:
If the listing has the logo for RealtyTrac ...

Then what you are seeing is NOT an actual listing … it is an advertisement for RealtyTrac.

RealtyTrac is a provider of data for distressed homes. This data is used by investors and Realtors to track distressed homes. When you see the RealtyTrac logo, you are not looking at a home that is actually available for you to buy: what you are seeing at is either (1) the notice of default for one of the mortgages on the property in question, (2) a notice of an impending trustee sale or (3) a notice of a completed trustee sale.

RealtyTrac notices can be very deceptive because they usually give loan amounts, not the purchase price or fair market value. When and if this particular property hits the market, it will be at market price for the neighborhood.

Bottom line: RealtyTrac is trying to get you to sign up for their service.

The following links may be helpful:

When Is The Price Not The Price?

It’s Too Good To Be True: REALLY – Top 4 Buyer Myths

If you want to know when these or similar properties will actually hit the market, have a Realtor set you up with an auto-feed that will alert you the moment they become active on the MLS.
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0 votes 3 answers Share Flag
Tue Dec 11, 2012
Mitchell Pearce answered:

Do you mean you mis-read the numbers or do you mean Trluia is mis-printing the numbers so it looks like your house went through foreclosure on Trulia still? If the latter, I suggest, after you get your print out from the County as I suggested below, you then contact Trulia as I mentioned below. Indicate that you have researched the county property record in your note to them and that you want the correction made so they stop slandering your title. Just using that phrase should promote resolution to an earlier date rather than a later date. It would be best if no publicly available website is not advertising you had some sort of credit problems in the past, let alone that you were foreclosed upon.

Other clues that the print is in error is that no one came by your house to try to evict you, no realtor showed up to talk about it, and no bank contacted you to try to resolve your outstanding loan balance before foreclosure would have occurred.

Let us know the final result please.

Mitchell Pearce
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0 votes 6 answers Share Flag
Tue Jan 25, 2011
Norman Alessandrini Warren Weston answered:
Hi Mike,
Well you already recieved some good advice, let me add a few points. First thing yes they can be a good buy, but as CJ pointed out you need to watch for what kind of condition the home is in, ( inspections and visual looking at will tell). Second you need a good buyers agent who has done several REO transations, as there ARE pitfalls that you need to be aware of regarding, time lines on contingence removal, the banks own addendum, having all the things you needed such as proof of funds, preapproval letter from a direct lender ( also the listing agent will most likely want you to pre-approve with his lender).
The thing I would really look for in getting a good agent that will get you the best deal while protecting your interest is basically EXPERIENCE in dealing with REO transations, period.
There are several VERY qualified agents right here on trulia who would represent your interests well, just look over the profiles and answers of a few of us and contact the ones you think would represent you well.

At your service,
DRE# 01397256
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0 votes 10 answers Share Flag
Mon Apr 5, 2010
Lolita Bungcayao answered:
Hi there,

I found some duplex homes in Milpitas that are within your price range. These homes has 3 bed rooms and 2 bath rooms, unfortunately they were all one story homes with pretty good sizes. Most of them are recently updated. I specialized in Milpitas and I know these homes. These properties are close to almost everything: close to The Great Mall of the Bay Area, public transportations, semi-conductor companies and most of all easy freeway access (880, 237, 680, 101).

If you have any more questions, please let me know or if you are interested to see these homes please dont hesitate to give me a call, I'll be glad to help you.

Best Regards,
Lolita Bungcayao
Intero Real Estate Services
1410 Dempsey Rd
Milpitas, CA 95035
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0 votes 2 answers Share Flag
Tue Jul 14, 2009
James Peterson answered:
HI Jdlen,

There are a couple of companies that I know of that do not charge a fee unless your modification is successful. Typically they charge around $3000 once it takes affect, which is a large chunk but typically better than closing costs on a refi.

Do you have a legitimate hardship?

If you are good at gathering your paperwork you can do it yourself and save the $$.

Contact your lender and ask about the loan modification program and they should send you the application information in the mail.

If you would like further assistance, no obligation required, I'd be happy to answer your questions...

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0 votes 2 answers Share Flag
Thu Dec 4, 2008
The Medford Team answered:

If your landlord is asking you to pay rent for all of December, then pay it in increments for actual days in the home. Pay only for the days you actually live there. Unfortunately, there is really no way to find out a new sale date without talking to her, the lender or anyone else directly involved in the process. Be ready to move in case the sheriff comes knocking. This might be a good time to start looking for other digs as well. Keep in mind that if your landlord is having financial difficulty, they may considering not refunding your deposit. You may want to consider this when making your December payment. ... more
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