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Foreclosure in Chico : Real Estate Advice

  • All83
  • Local Info4
  • Home Buying26
  • Home Selling2
  • Market Conditions3

Activity 8
Mon Jan 18, 2016
Derek Jones answered:
You can find them on the MLS or any agent/broker site connected to the MLS. You can also find them on auction sites like auction.com, hubzu, homesearch.com.

The real question is why are you specifically looking for foreclosed and bank owned homes? Unlike 2009-2011, bank owned homes aren't that much of a bargain. Most have been cleaned up and fixed up and priced around that of non bank owned homes. ... more
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Wed May 14, 2014
Jan Davis answered:
Lenders are loosening their belts now, seeing more flexibility in lending.
Jan Davis
530-680-6503
0 votes 9 answers Share Flag
Tue May 22, 2012
Cindy asked:
my house in forclosure and im suing band of america . they paid my taxes in original agreement now no one is paying what should i do
0 votes 0 Answers Share Flag
Tue May 22, 2012
Cindy asked:
my house in forclosure and im suing band of america . they paid my taxes in original agreement now no one is paying what should i do
0 votes 0 Answers Share Flag
Sun Jan 23, 2011
John Anderson answered:
First I like to give you a little background on myself. I have been listing, selling and managing 100's of short sales throughout all of California for the past 4 years. I am a certified short sale specialist with the DRE. Now to answer your question:

Please feel free to visit my short sale website @ http://www.californiashortsalesexpert.com and view the Q&A's. I think this might help you.

Thank you,

John Anderson
Realtor
Lic. #01410337
Keller Williams Realty Chico Area
(530) 809 3790
... more
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Sun Jan 16, 2011
John Souerbry answered:
This is normal. Almost all brokers continue to market a property until purchase contingencies are removed (inspections, mortgage approval, etc.). They will also continue to receive "back up offers" that can be executed (turned into a contract) the day your contract is cancelled, if you decide to do so. It's a process that allows them to quickly go to the next buyer when one falls out. Once you signed their counter, you should have had a contract unless it was a multiple counter. If you agent says you have a contract and the seller says no, it's time for an attorney. ... more
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Sun Oct 31, 2010
answered:
Banks and their asset management companies are not held to the same standards
as 'normal sellers'.

Banks do not have to provide most of the standard disclosures to buyers.

If they choose to sell a 'problem property' they have the legal staff and deep pockets
to prevail should you be foolish enough to waste your money in court.
... more
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Mon Nov 30, 2009
Scott Huber answered:
Dear B. Lindsay,

I sympathize with your situation, there are hundreds of homeowners right here in Chico in the same situation.

First, make sure you consult an attorney on any plan you come up with, the potential loss of your home and the effects on your credit are too important to neglect to get legal counsel.

The questions you’ll want to answer for yourself are: do I honestly feel that I can afford this home in the future and do I want to keep this home? If your answer to these questions are yes you’ll want to follow your lenders process for applying for a loan modification. Be persistent – lenders are deluged right now and you’ll need to be the ‘squeaky wheel’ to get your questions answered fully. If your answer is no the next question is ‘how do you want to try to divest yourself of the property?’

A short-sale is a process whereby the lender allows you to sell your home for less than they are owed before the foreclosure date. The reason that distressed homeowners choose a short-sale is because the process is supposed to be less damaging to your credit (stays on your credit report for a shorter period of time). The short sale process can be challenging and timing is critical so most homeowners employ a real estate agent or negotiator to assist them.

Foreclosure means that the lender takes the home back. It is generally regarded as one of the most damaging items that can appear on your credit report. Because of the huge backlog of pending foreclosures, some homeowners have reported being in their homes for months before being foreclosed upon.

There are additional pros and cons to all of the above scenarios, and conditions vary from region to region. If you’d like more information on conditions or procedures in the Chico area I’d be happy to provide you with more details.

Best of luck
... more
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