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Foreclosure in 95118 : Real Estate Advice

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Activity 2
Sun Nov 6, 2011
Harold Sharpe answered:
You may not want to bail on your condo just yet.
Your best bet may be to occupy the property until the title has transferred.
If you leave and someone else breaks in and occupies your property you can be held liable.
Then there is the HOA fess you are still responsible for.
You can still short sell the property as well. an option to look into.
Bankruptcy does not get you out of responsibilities for real estate, except in few occasions and I doubt this is one of them. Many people think Bankruptcy gets them out of trouble. This is far from the truth.
In fact it is possible that by doing the bankruptcy before you disposed of the property you can have issues you may not get out of later, that you could have had you waited on the bankruptcy.
If the bankruptcy did take care of the condo you would not be here asking this question.
Many people would never have to file bankruptcy if they short sold their home but many BK attorneys fail to let their clients know this. Each person is different. By filing the bankruptcy you probably delayed the NOD by 45 -60 days.

You would be advised to seek the council of a real estate attorney.

You can wait until someone comes knocking on your door, and then have a month or two to vacate.

Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
California Department of Real Estate Broker License # 01312992
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Mon Feb 28, 2011
Alex Lopez answered:
You might want to look into a short sale, where you can eliminate the mortgage and avoid foreclosure, check out:
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