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Home Buying in 90503 : Real Estate Advice

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  • Home Buying8
  • Home Selling1
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Activity 8
Fri Mar 31, 2017
Zisskhan answered:
Adding more info:

My Agent suggested that I bid 15k more to make sure I get the house. I express my concern of appraisals coming low, but he said that would not happen in Torrance market. As I am First time home buyer, i went with my agent. Even though i had a gut feeling it wouldn't. Now without my appraisal contingency how can I walk out of the deal without losing my earnest money? The only two contingency i have on my contract is Inspection and Financial. I am right now on deadline of removing my inspection. Can i use the inspection to walk out? ... more
0 votes 1 answer Share Flag
Wed Jul 31, 2013
Laura Feghali answered:
Hi Kevin,
If you post a question on the site then a member will respond right on the site under your question. You will receive an email alert that someone has responded and that message will provide a link back to your question for you to view the response.

Hope that helps!

Laura Feghali
Prudential Connecticut Realty
... more
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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
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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.
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Thu Oct 21, 2010
Debra (Debbie) Rose answered:
2+ year old question.......and still being answered................
0 votes 17 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.
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