Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Foreclosure in 90503 : Real Estate Advice

  • All14
  • Local Info0
  • Home Buying8
  • Home Selling1
  • Market Conditions0

Activity 3
Mon Aug 20, 2012
Bob Costello answered:
Be careful about doing a lot of BPO's. They don't guarantee anything and it's hard to track all the payments due. We have been stiffed by Old Republic - and there's no one to talk to about it.......
You can try the list from RegisterREO
... more
0 votes 15 answers Share Flag
Wed Nov 17, 2010
Royal Real Estate Group answered:
Dear Dejjoe:

If you property has been foreclosed because you defaulted on your pament obligations. Lender cann't come back after you to obtain deficiency judgment against you, since, it was foreclosed non-judicially.

You can consult an attorney giving them full facts. So that you can have peace of mind. Wish you good luck.
... more
0 votes 10 answers Share Flag
Fri Oct 8, 2010
Royal Real Estate Group answered:
If the lender foreclose upon the single family residence or 1-4 units, there is no deficiency judgment. Also, if lender forecloses upon the property in a non-judicial setting, there is no deficiency judgment by the lender who choose to foreclose upon the property in a non-judicial manner. However, junior lien holder may survive depending upon the timing and purpose of the loan. Especially, when the loan was taken after the purchasing of the property as Home Equity line of credit or for home improvement loan.

Its better to be proactive and take responsibility of the debts and consider all your options before letting your property be foreclosed upon by the 1st lender.

Ofcourse, if the property is investment property other than single residence and or more than 4 units , and if the lender choose to proceed with judicial foreclosure, it could recover deficiency judgment against debtor from the court.
... more
0 votes 10 answers Share Flag
Search Advice
Search

Followers

372