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Foreclosure in Santa Rosa : Real Estate Advice

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  • Local Info38
  • Home Buying121
  • Home Selling6
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Activity 29
Fri Apr 22, 2016
Terry Bell answered:
Oakmont is a wonderful community for active adults over 55. They have single family homes, duplexes, triplexes and condos so the HOA dues vary according to the type of unit you are considering. For a list of homes in that community available for sale, please drop me an email or call!
Terry Bell, Realtor
Better Homes Realty
Santa Rosa, CA
707-292-5712
TerryinSR@aol.com
BRE lic # 01414808
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Tue Oct 22, 2013
carenkerr answered:
Buyers interested in purchasing a property through foreclosures as home loans are low interest. Depending on the condition, year of construction, facilities of appliances included, location and other property-related details are effects on prices of foreclosed homes. With their reduced prices & various financial reasons, investing in a property through foreclosures makes for an ideal real estate venture for home buyers as well as investors. ... more
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Sun Aug 18, 2013
Walter 'Skip' Kersten answered:
Try contacting the bank or Trustee and ask them that question. The sooner the better before they list the property with an agent.
Good luck,
0 votes 1 answer Share Flag
Sat Nov 17, 2012
Steven Ornellas answered:
Hi vickiobanion,

Whether you are personally facing foreclosure, or a friend is, you need accurate and complete information and a central location to return with any follow-on questions.

The following highly informative website defines and details the Non-Judicial Foreclosure Process step-by-step which you can find here: http://tinyurl.com/3bzcw5a

Best Regards, -Steve
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Thu Apr 19, 2012
Steven Ornellas answered:
Unhappyrightnow:

As a Renter you should be aware of the following informational sources/links:

CA's "Protecting Tenants at Foreclosure Act" - need to know info!
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2011/08/ca_s_protecting_tenants_at_foreclosure_act_-_need_to_know_info

The "ends and outs" of renting from the Landlord and Renter positions.
http://docs.Steven-Anthony.com/Landlord-TenantGuideCA2010.pdf AND http://www.nolo.com/legal-encyclopedia/renters-rights

-Steve
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Mon Dec 26, 2011
Heather Paul answered:
Create a flyer and drop it off at all the local real estate offices, email the Reo Agents in the area and let them know you are available-try offering them a discount to try your services. Sign up with the banks and national asset management companies directly. Set up a website and market your services, connect with local Realtors on facebook, twitter, and linkedin and network with them. Advertise, advertise, and advertise-all successful businesses do this!
Good luck!
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Tue Dec 6, 2011
Alias8 answered:
Rob Hinds, youve got to be kidding me!!! You got scammed, by Nigerians of all things. Damn youre an idiot. Anyway, Curt And Chris of Green Credit are in jail as of today.

http://getoutofdebt.org/32803/arrest-warrants-issued-for-orange-county-men-involved-in-mortgage-modification-business ... more
0 votes 57 answers Share Flag
Mon Nov 7, 2011
Terry Bell answered:
You might consider looking into the Mobile Home market. There are many deals in Mobile Home Parks in the area and you would have the security of home ownership! Drop me an email for more information. Many people have their family help them buy in, and you will be thrilled to have a place where you can put up a shelf or paint or put in new appliances without begging the landlord. Best, Terry Bell, Realtor, Santa Rosa, CA ... more
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Mon Oct 31, 2011
Terry Bell answered:
Well, I wouldn't leave until you find out for sure whether the owner is negotiating for a short sale, because if he is, you may be eligible for $3K incentive to move, which will at least provide new funds to move. Call a realtor to look up your address on the tax rolls and see if it is listed for sale, and what status is showing on the tax rolls. Best, Terry Bell, Realtor ... more
0 votes 6 answers Share Flag
Wed Sep 29, 2010
Scott Sheldon answered:
I am doing loans for folks but I am seeing upwards of 6% seller concessions!

Lets chat more...

707 217 4000 Scott
0 votes 6 answers Share Flag
Wed Jun 16, 2010
Eric M Burgess answered:
Kim,
Tough situation - several things can be done. The answers below offer great advice - contacting an attorney should be something you do immediately. Second, are you in a lease for a term or month-to-month? Third, if your June rent was paid to the landlord, you are good for this month at least. If you are in a lease, the landlord must show damages to try and evict you regardless of how they 'feel'.

Go to the this website for reference on your rights as a tenant...http://www.dca.ca.gov/publications/landlordbook/index.shtml.

A phone call to the Real Estate Agents Broker (Boss) wouldn't hurt either. You were given wrong or false information, a property doesn't typically become banked owned and then go back to the owner, very unusual. Good luck!
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Sat May 8, 2010
Arlee Geary answered:
In a condo, you just own the interior of the home. With a PUD, you own the land under the unit and the exterior. In many PUD's the owner is responsible for maintaining the roof and exterior paint, while with condos it is usual that the association is responsible for those items. This can vary, and it is important to check the CCR's and other rules of the complex to determine what the fees cover. HOA stands for Home Owners Association. They collect the dues and make arrangements for repairs within their sphere of responsibility. They are also responsible to enforce the rules of the association, and among other things, to provide information to owners and occupants about those rules and to authorize changes to the exteriors that would impact visually on the complex. Lincoln Manor is a PUD. I believe it is FHA approved. In some complexes, Even in FHA approved complexes, FHA may refuse to finance if the ratio of homeowners to renters is below their required ratio or if the assocation's financial situation is below their standards. I'd be glad to help if you need help. Arlee Geary Broker/Associate. Century 21 Alliance 707-479-2499. ... more
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Thu Apr 29, 2010
Jerry answered:
Participants in Green Credit various companies are also involved in many other entities. Reo Profits, Accredit, First Secured Investors. The list goes on and on. If you are an investor who is concerned with your situation Please Please contact the DRE, SEC, CALBAR, ATTORNEY GENERAL. Go with your gut! ... more
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Tue Feb 23, 2010
Matthew Bartlett answered:
Hi Pilarrosales,

I recommend that you speak with an Attorney who specilizes in Real Estate Law. Good luck!

Matt
0 votes 1 answer Share Flag
Wed Sep 23, 2009
Mike Kelly Allison Norman answered:
Victoria, robert is correct, as the amended law, for any Federal related loan (and that's just about anyone!) needs to give 90 days notice. However, we who do REO's offer quicker "Buy-out" programs for tenants to vacate the premises. Some cities, however have Just Cause eviction ordiiances.
They are: San Francisco, Oakland, Berkeley, Los Angeles, Santa Monica and West Hollywood. San Jose, Palm Springs, Hayward and Beverly Hills have rent control, but no eviction protections. San Diego, however, has "just cause" eviction, but no rent control. A few other communities have mediation programs or very limited rent control. Those won't help you in this situation, and your "protection" is limited to that provided by state and federal law.
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Sat Sep 19, 2009
answered:
Per a federal law passed in late May 2009, post foreclosure tenants have at least 90 days. Furthermore, the new owner must honor a lease of up to one year, unless the new owner plans on occupying the premises as their primary residence, then it's 90 days from notice served by new owner. Since most trustee sales have no bidders at the ausction, the beneficiary (bank) ends up with the property, which now becomes an "REO." Since the bank isn't going to occupy as their primary residence, you could end up being able to stay for a long time. ... more
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Tue Sep 8, 2009
Kenneth Schrier answered:
Good Morning,

Putting in an offer on an REO (Bank owned home) is no different than submitting an offer to a private seller. The biggest difference between the two is that REOs do not take contingent sales (selling your current home to purchase one of theirs') and the second is that there will be very little disclosures to review.
You are still going through your inspection and loan contingencies timelines and can cancel within those timelines if you need to and have your deposit returned.
You will need a preapproval letter from your lender and in most cases, a Realtor to represent you.

If you need further help, let me know. I would be honored to work for you!
Good luck out there!

Ken

Kenneth Schrier Real Estate Group
CPS Property Advocates
707-529-4819
www.kenschrier.com
www.kenschrier@aol.com
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Mon Aug 3, 2009
Mike Kelly Allison Norman answered:
I just completed a "cash for keys" with homeowners who lost their home to foreclosure. We don't know how LONG the sellers were in posession without making payments but the time from the actual "sale" or foreclosure was just a couple of weeks. The "cash for keys" agreement called for them to be out within 30 days. The banks used ot offer a "sliding" scale of cash for keys with a quick vacating of the property (sometimes just 2 weeks) being more money and getting reduced for each week after that.
However, I would NOT linger and make plans to get out immediately. Some would advise you to "game" the system and hang out until the REO agent approached you and offered you "cash for keys" but chances are you have NOT been making payments and hopefully have some funds put aside for this move. Good luck and remember, "You are NOT alone!" Don't beat yourself up over the loss of the home. I know it is very difficult and the couple I mentioned above where the kind of homeowners you hate to see leave their neighborhood. The house was presented to me in great shape, cleaned, with ALL fixtures in place.
Conversely, don't be one of those who feel they are a "victim" and take everything that is not and that IS NAILED DOWN!! Leave the home with the dignity and grace in which you treated it while an owner. Why? Because you know deep down inside it is the RIGHT THING TO DO!
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Mon Jul 27, 2009
Karen Shrock-Jones answered:
The previous responders have pretty much said it all. The only foreclosed homes for which I have seen property condition reports are HUD foreclosures. The condition report is used in part to determine if the property is insurable by FHA or if there is a maximum of $5000 worth of repairs which would make the home insurable.

Are you interested in the clean up or the property condition report part? Or are you just looking for a quick way to pick up some money?

There are realtors will provide referrals to clients for "make ready" contractors when they are getting ready to put their home on the market. Rental agents also use "make ready" people to clean apartments for re-leasing.

If you're interested in the condition reporting, you might want to investigating licensure requirement in CA for home inspectors. You'll have to take classes and pass an exam and then drum up business, but a licensed home inspector has a whole lot more credibility that some joe (no pun intended) off the street who's going to give you a "property condition report."

I don't know what the going rates are in CA or Santa Rosa, but good inspectors earn a decent fee for their services.
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Wed Jul 8, 2009
Steve answered:
Interesting article from a Fed study on why foreclosures keep occurring:
http://seekingalpha.com/article/147604-boston-fed-we-don-t-understand-foreclosures

Basic points seem to be:

1. A decent chunk of the requested mods are from people who don't actually NEED a mod to avoid foreclosure, but would obviously like it. Not too hard to come up with a story why someone needs a mod, even if they can keep paying. Granting mods to these folks just costs the banks money.
2. The re-default rates on mods is massive anyhow, and it amounts to just kicking the can down the road a bit.

Given those two, speculation is foreclosing is arguably better for the bottom line of the bank. Granting a mod to folks who truly need one will likely just lead default a bit further down the road. Granting a mod to a household that doesn't truly require one is just throwing cash away.
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