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91977 : Real Estate Advice

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  • Local Info1
  • Home Buying16
  • Home Selling1
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Activity 19
Thu Jun 23, 2016
It sounds like you did repairs to make the house up to code or something to sell. No you will not be able to collect as you are the one who benefits as it was your house, and not it is ready for the next buyer. ... more
1 vote 2 answers Share Flag
Mon Oct 12, 2015
Cindydavisbroker answered:
I would suggest calling a building contractor or architect in the area.
0 votes 1 answer Share Flag
Thu Feb 6, 2014
Harold Lear answered:
Hello Ray, we have spoken before. Attorneys don't reduce there fees. The bank hired there attorney to file a Notice of Default and or a Notice of Trustee Sale its a fee for service.
To reinstate your loan that's a forbearance and depending on how many payments your behind, you will be paying the regular payment and the forbearance payment.
I can refer you to our attorney, they can get you a reduction of your mortgage balance to Fair Market Value. The program is a NO COST TO YOU. This is not a Loan Modification. Don't lose your Dads home.
Give me a call Harold Lear
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0 votes 4 answers Share Flag
Wed Sep 11, 2013
JR Thrasher answered:
I wrote a blog about "Finding Foreclosed Homes on Trulia" just last week. I'll put a link in the web reference. That should answer all of your questions.

J.R. Thrasher
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0 votes 3 answers Share Flag
Mon Jun 17, 2013
Kari Shea answered:

This is a complex situation. They can do what ever they like.

To let you know some of the situations with the lender:

1. Your lender is most likely only a loan servicer. A servicer (B of A, Wells Fargo, etc) has usually sold the loan to an investor. The investor gives them guidelines related to loan mods, short sales, etc.

2. For everyone involved, a short sale is better than a foreclosure. It costs the lender approximately $50,000 and a lot of lost time to foreclose on the home and then additional time to assign it to an agent and get it sold.

3. As you have heard from others, get professionals involved now. Many lenders file the NOD and delay the action date in order to process a short sale.

Get good advice and take it, you have options.

Mark & Kari Shea
Shea Real Estate
National Association of Realtors
CA DRE License 01713506
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0 votes 5 answers Share Flag
Fri Apr 5, 2013
Alison Hillman answered:
You can contact the listing agent who will be able to help you learn more about that specific property (and probably will know a lot about similar properties in the area). To find an agent, just click on the yellow button on the property's Trulia listing and you will be able to start a dialogue.

Please let me know if you have any questions or if I can help with anything else. I am happy to be a resource for you. Good luck with the search!

Ali, Trulia Voices Community Manager
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0 votes 1 answer Share Flag
Tue Jan 8, 2013
reginahous1 answered:
I am trying to find out the date the house that I owned went up for auction. The address was 3509 Black Elk Court, Antelope, 95843
0 votes 13 answers Share Flag
Thu Oct 11, 2012
Michael Alex answered:

Contact me, I can get the paperwork for you. If you cannot qualify for a loan modification or refinance. I recommend you short selling your property. Many banks are offering delinquent homeowners $2,500 to $30,000 in refund checks after the sale of a short sale. You can use that refund for a rental or save to purchase another property. In some instances many people doing short sales don't have their credit affected as much as a foreclosure and can purchase a property only 2-3 years later. Please call me to discuss what I can help you with.

Best to you,

Michael Alex
Real Estate Consultant
cell. 619.581.9348 | fax. 619.269.7263
Pacific Sotheby's International Realty
San Diego,CA
... more
0 votes 4 answers Share Flag
Sat May 19, 2012
Cindy Davis answered:
Yes indeed, short sales are long from the sense of time. The term is used because the seller is 'short' on being able to repay his or her note.

Who knows why? I agree that experienced agents and/or experienced negotatiators tend to get it done sooner instead of later - but still 3 months is the shortest I've ever experienced.

I think we all forget that the banks have thousands of these nationwide and there may be dozens of files (if not, more) sitting on one person's desk. Short sales are complex animals where the bank evaulated not only the seller's situation, but the value of the property, as well.

They're not fun but they are a part of our real estate market.
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0 votes 6 answers Share Flag
Mon May 14, 2012
Cindy Davis answered:
It is most appropriate to select one agent and stick with that person. If your current agent is not giving you the attention you deserve, feel free to try one of the rest of us!!

Working with multiple buyer agents is not recommended. It's not fair to the agents you are working with and you will not get the best service that way. I find that my buyers and I go on a journey together as we discover the type of home they are are looking for.

It takes time to get to a level of comfort and trust with an agent. If you are going shoppint with several agents, you are not likely to develop the same quality of relationship and guidance.
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0 votes 13 answers Share Flag
Wed Apr 4, 2012
Cindy Davis answered:
It is generally returnable. Here are the caveats...

If you cancel the escrow prior to your contingency period have a right to your deposit back. If you cancel after the contingency period expires, you will lose it.

if you do cancel, the seller must agree to return it and technically speaking, can give you a difficult time in doing so. In 10 years of practice however, I've only seen that happen once, however!
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0 votes 5 answers Share Flag
Thu Mar 1, 2012
John Arendsen answered:
Rents fluctuate from one park to another. If a park is in a rent controlled area i.e. Escondido, Oceanside (albeit Oceanside is about to lift rent control), etc you will fine rent rates much cheaper. If your coastal i.e. Encinitas, Carlsbad, etc. they will be upwards of 700 dollars per month. If there in cities like Vista, San Marcos, Escondido you can find some parks still under $500/mth but they're usually in a pretty bad part of town or the parks are not very nicely maintained. Your better maintained parks will cost more obviously.

But before you purchase any manufactured home that sits on piers and pads you should definitely get a home inspection done by an experienced manufactured home inspector and not just any home inspector.

They should thoroughly check your understructure to make sure the home is level and the pier jacks and wood pads are in good shape and securely placed in the right locations and tight and that the home is level.

Also make sure they check for rips or tears in your vapor barrier, aks varment barrier. Rodents and critters love to nest in this plenum and rats have been known to eat wiring. Make sure there's no drainage, dampness or mold issues.

Finally make sure the home has a Housing and Community Development (HCD) approved Earthquake Resistant Bracing System (ERBS) system under it as the entire desert area is in a Zone 4 seismic area which is the highest risk catagory.

If you have any other questions or concerns please feel free to contact us at or you can call me anytime at 760 815-6977. We do not perform home inspections as that would be a conflict of interest inasmuch as we are a Manufactured Home Contractor, Dealer and real estate broker. But we would be happy to refer you to a reliable MH inspector in the Palm Desert area. Good Luck.
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0 votes 3 answers Share Flag
Mon Feb 6, 2012
I could be wrong but I think the problem is that the banks who cast the burden of doing any repairs on the listing agents. So when you show up with a VA or a FHA loan, the agents percieve that they will need to do more in repairs which could amount to several thousand dollars. Yes they get the money back when and if it closes. In the meanwhile the deal could fall apart, the lender could pull the listing. They could wait a year to get their money back.

So it is not surprising that agents do not want to shell out several thousand dollars doing repairs. So my guess is that a lot of VA or FHA offers never see the bank. Again I could be mistaken. I think the banks will take which ever offer nets out the most money.
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0 votes 9 answers Share Flag
Wed Mar 16, 2011
Ellie Dominguez answered:
Loan modifications is something you would want to look into. For Legal Real Estate matters call (619) 723-3383. Law Offices of William Radcliffe Specializes in Loan modifications.

They offer free consultations! ... more
0 votes 10 answers Share Flag
Mon Feb 28, 2011
Cory La Scala answered:
If your credit score is at least 500-579, you can get a FHA loan, but you'll need a 10% down payment. If your score is at least 580, you can pay the standard FHA down payment of 3.5%. Even if you have a 20% down payment, you'll need to pay the mortgage insurance for at least 5 years, and then until you have 78% equity.

I have some really good information about credit scores, how they work, and what to do to increase yours. Remember, a low credit score means a higher interest rate too.

Let me know if I can help!

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0 votes 9 answers Share Flag
Thu Feb 24, 2011
Mary Ellen Wilson answered:
There are many kinds of auctions. The foreclosure you alude to here in California is sold on the courthouse steps and the homeowner does lose their home. But they can choose to do an auction before foreclosure that will sell their home quickly and with less hassle and stress. We auction short sale homes and equity homes online. We've done over 40 in the last 2 years. It is a great way for someone facing a foreclosure to solve their problem. We also do a FREE preforeclosure coaching accredited by the Dept. of Real Estate first so that the homeowner can sleep at night and make a plan. Contact me at Oh, we've done auctions in Bakersfield. ... more
0 votes 9 answers Share Flag
Wed Aug 19, 2009
Kari Shea answered:

Different banks have different methods. When the receive an offer:

Some have a waiting period of 3 yo 5 fays to see what else comes in and then negotiate for they feel is best.

Some negotiate each offer as they come in.

Either way, the select the offer they feel is "most likely to close" un the fastest time frame possible. That does not always mean the highest offer, they are looking for the best offer.

We hope this helps,

Mark and Kari Shea
San Diego Real Estate Experts
Foreclosure, Short Sale & Investment Specialists,
Development Opportunities & Traditional Real Estate
... more
1 vote 3 answers Share Flag
Thu Feb 28, 2008
Stephani answered:
thank you Mike, So I think we will wait them out. Let them "stew in their own juices" as Liz Stephens said. We have all the time in the world. We plan on renting out our condo, so we do not have any contingencies there. Mike~ this property is very special and worth the wait, I just wish they would give us a counter or a firm "no" so we can stop hoping. We are still continuing to look for properties though. Our agent is doing his part, there is only so much they can do with shorts. Thanks Everyone!!! :) ... more
0 votes 7 answers Share Flag
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