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Foreclosure in Chatsworth : Real Estate Advice

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  • Local Info1
  • Home Buying13
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Activity 5
Sun Jul 31, 2011
Barry Shapiro answered:
A Loan Modification and Debt Reduction Program may be the best options. You are not alone, and new programs are being introduced all the time to help homeowners keep their primary residence. ... more
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Wed Jan 27, 2010
Steven Ornellas answered:
Homebuyers,

I think you are focusing on the wrong things by trying to make generalized comparisons and assigning a "spread" discount range. Do you have a Buyer's Agent? I ask this because your valuation question is so basic to the transaction it has me wondering.

Rather than relying on the opinions of this forum regarding an unidentified property, you really need to be using the "gold standard" of determining pricing trends -- a Comparative Market Analysis (CMA). After all, this is an important financial transaction for you, correct? A CMA always provides the best representation of market price/activity/trend direction - for the specific property details you search on.

While your Realtor can provide the CMA for you, when you visit the property have a very good contractor go with you to "guesstimate" what it will take to make the property "marketable." Your Realtor can also help in this regard. This way, if you use "$0.70 on the dollar" estimate you won't be faced with an extra $0.20 on the dollar expense.

Best, Steve
... more
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Thu Oct 15, 2009
Ingrid answered:
Kelly,
Most lenders will tell you that you can't do a loan mod if you;re not behind on your payments. This is not the case and they are just stalling you and will give you the run around. If they think you can make your current payment they will not want to do the loan mod. The federal government is putting pressure on lenders to help homeowners do the loan mods and they require that you have at least one hardship from a list of about 20 and it sounds to me like you may have more than one. Yes you could qualify for a loan mod and substantially lower your monthly payment and possibly get a lower fixed rate without paying high attorney fees. Contact me and let me show you your options.

Ingrid Smith
Loan Modifications
888-242-1444x134
... more
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Fri May 15, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
To be honnest I started seeing a lot of this since the stimulous program came out in march. The lenders seem to keep changing their minds and requesting information over and over again. The cases I have seen attorney's involved have been no better than other cases. If you get a attorney involved get an attorney involved that understand foreclosures in your state. Do not use an out of state mod company. If the foreclosure has not started yet, you are in a better position to deal with the lender. However, I would go down multiple paths at the same time; i.e.; modification and short sale.

Find out who the investor is which will help you understand if it meets the stimulous program. If it does meet the stimulous program they should deal with you. If it is not part of the stimulous program they do not have to do anything but it is wise for them to work it out. Try to escalate it as high as you can.



Keith Manson
First Weber Group
Certified Distressed Property Expert
Greenfield, Wiscosnin
... more
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Tue Mar 10, 2009
Keith Manson- Metro Milwaukee Wisconsin answered:
If you are in foreclosure and you agreed to a repayment plan, most likely, it was an agreement that you make a partial payment and make 1 1/2 payments per month until you are current. The problem with these repayment plans is that they usually have something called a stipulation in them. The stipulation, typically indicates that if you default on the repayment plan, the bank will start the foreclosure at the point that you agreed to the repayment plan.

You only want to enter into these agreements, if you are sure, that you will complete the agreement. If you don't complete the agreement, you loose your partial payment, any additional payments and your house.

Be careful!
... more
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