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Foreclosure in Fremont : Real Estate Advice

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  • Home Buying485
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Activity 34
Sat Jun 11, 2016
Rich Reed answered:
Glad you were able to get a loan modification. Your property had a "Notice of Default" filed against it with the County. It is a matter of public record. This site, and anybody, really, can access that information. The party foreclosing your property needs to file a "Rescission of Notice of Default."
On another subject, I'm wondering, why have you listed another agent's license number in your profile, 00805386, instead of your own license number, 01168594?
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Tue Apr 26, 2016
I would be more than happy to send you my list of prefered agents in your area.

I do not check replies, so if you have a comment or question email me here:

Alex Greer
Loan Officer
NMLS #1056079
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0 votes 1 answer Share Flag
Fri Mar 27, 2015
Charo Bhatt answered:
Hello Carolina,

Thanks for raising this question at the trulia platform.
May I ask you... are you a real estate professional or a home a buyer?
This is what Real Estate professionals are sellers to see if they would be interested in selling their property. They reach out to sellers by door knocking, sending mail, dropping of letter at their door steps etc. You too may exercise all options to contact the owner of the property. But who will decide the property value? Who will draft your legal contract papers for you...should the sellers yes, I am ready to sale my house now?

You may need a skilled, experienced and knowledgeable Real Estate professional to help you navigate the process. My suggestion is you reach out to at least three local Real Estate professional and interview them and let them take care of the rest for you.

Good luck to you,

Charo Bhatt
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Fri Jan 2, 2015
Nancy answered:
Not many available now in Fremont for $325k. What did you end up doing?
0 votes 6 answers Share Flag
Fri Jan 2, 2015
Nancy answered:
Hi Abhi,

There is no active foreclosure listing on mls in Cherry/ Gaurdino community. Sometimes a foreclosure would show up on Trulia or other public websites but on mls. In those cases, It is hard to only rely on public information. If you give me the address, I can get you all the information regarding the condo. ... more
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Fri Nov 28, 2014
Anna M Brocco answered:
No link is visible, however rather than waiting for an open house and potential added buyer competition, why not simply schedule a private showing; if you are not currently working with an agent of your own, perhaps consider the idea; he/she can schedule showings, provide any necessary information, etc. ... more
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Fri Nov 14, 2014
Ali Qureshi answered:
1-An "AS-IS" property means that you are agreeing to buy the property in its given condition. However, you are free to still get inspections done on the property for your satisfaction but the seller will probably NOT perform any repairs or re-consider the price based on the outcome.

2- It is usually the case with Auction properties that you are not allowed access to view the property from inside. However, you can still do your due diligence by driving around the property, checking the neighborhood and maybe speaking with some of the cooperating neighbors.

3- I find Cash-For-keys to be the most efficient method of negotiating with the tenant to vacate the property. Depending on the location of the property, legal options may take a lot more time and money to resolve.
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Mon Oct 13, 2014
Sam Shueh answered:
How about those home auction off starting with a fraction of new ones? Often they are sold at or over retail price.
0 votes 7 answers Share Flag
Fri Apr 11, 2014
aftervince1973 answered:
See Comstock if you have a buyer in need. They have a flexible credit loan. This program assists homeowners who have recently been through a foreclosure, short sale or have recently emerged from bankruptcy. ... more
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Sun Mar 9, 2014
The Medford Team answered:
Fri Jan 10, 2014
Dawn Rivera answered:
Hi Pauline, yes the home on Anchor dr. It is pending. You should pick 3 or 4 Realtors in the area tour interested in and meet with them to see whom you feel comfortable with, who will answer your questions and return your calls promptly. Then pick one and hire them to help you. A realtor can find you homes in your price range that are available and, the buyers agent is paid by the seller so its a win win for you... if you just want to search a bit on your own you can do a home search from my website..... Dawn ... more
0 votes 3 answers Share Flag
Wed Nov 13, 2013
Before putting your hard earned money in a rent to own contract answer this question, how will a mortgage underwriter treat the contract when it comes time to pay off the seller? Answer: It is not what you expect.

If you think you can turn around and sell your position without ever taking title to the property, guess again, the person buying the home from you can’t get financing because of the title issue.
Trying to circumvent the rules that are in place to protect you is probably not a good move.

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
I answer questions about financing real estate based on my decades of experience dealing with mortgage underwriters. This answer is my personal opinion, has not been reviewed or approved by the company I work for. I do not offer legal or tax advice, if you need answers from an attorney or CPA find one knowledgeable in your local market.
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Wed Nov 13, 2013
John Juarez answered:

PLEASE! I know that you do not believe that you can rent a home for that price in Fremont.

It would be helpful if you would provide the link to the ad for this preposterous rental offering. ... more
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Wed Oct 16, 2013
Jerry Straks answered:
Sheryl and Brian provided good answers. I would like to expand on one subtle phrase in Brian's response: "...that you qualify in the future to buy the home."

In addition to being a Realtor, I am also a real estate investor and understand the seller side of LTO. Investors like them because there is money up front, often to cover their costs so far (your down payment, as mentioned below), there is cash flow to more than cover their ongoing expenses (your monthly payment that will be higher than rent would be), and since many LTO transactions do not result in a completed purchase, they may get a chance to sell it again--because the buyer got into it without having a clear plan to assure they could get the needed financing later to complete the sale. The buyer defaults on the agreement and loses the house and their payments.

Things to consider: Do you have credit issues and are you working very intentionally to improve your credit before the LTO comes due? Have you verified that with the income you are likely to have at that time and the credit score you hope to have at that time that you will qualify for the loan you will need and that you will be able to afford it if interest rates go up?

One recent development in LTO is that some courts are asserting that your agreement and payments may give you an equitable interest in that property. That means that if you default and the seller resells it, you may qualify for a fraction of his/her profit equivalent to your fraction of the equity that has been created during your lease. You would have to sue in order to get it (meaning legal costs that will dilute your return).

All of this is why you need to speak to your attorney, CPA, real estate broker, etc., to consider all your options with eyes wide open.

I hope this helps. Let me know if you have more questions.
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Mon Jul 29, 2013
John Arendsen answered:
Where are you looking to purchase and how much cash do you have to purchase a property? We work with cash buyers quite regularly and would be happy to help you if you're looking in the San Diego area. Feel free to reach out to me privately at 760 815-6977 or email me at ... more
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Fri Apr 12, 2013
Kevin and Julie McLaughlin answered:
Hi Darren - As stated in other posts, you really need an attorney... if the HOA filed a judgment prior to the foreclosure, they may have a case, but again I must recommend an attorney. To get some online help, you can try - I can't say if they will be any help or not, but you can try it for free - I wish you the best of luck. ... more
0 votes 8 answers Share Flag
Sun Jul 22, 2012
John Juarez answered:
In order for a party such as a HOA to obtain money from your bank account, they would have to sue you, win the suit and obtain a judgment against you. Armed with a judgment, they could ask a court to levy against assets that you may have including bank accounts.
The above is just a short version of what I believe the process to be. Of course, I am not a lawyer and you should not rely on my opinion. Check with an attorney for factual legal answers.
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0 votes 6 answers Share Flag
Thu Jun 28, 2012
If you even qualify for another loan (lates on an underwater property? red flag):

The new lender is going to look into the background of your current home ie; square footage, quality of home, neighborhood. If you are not making a 'sensible' move, you are going to be shot down quickly.

Underwriters are trained to look for this specific activity.; red flags..

You will need to explain in great detail why you are moving out your current property and into a new property. You will need to explain what it is specifically you are going to be doing with that property when you leave it. If your explanation does not make sense and it appears to be a 'strategic' maneuver, its a no go.

If the departing residence, the one you talk of short selling, has less than 30% equity, you are going to have to qualify with both payments. Potential rents will not be taken into consideration.

I see a headline 'Looking for Advice on a Buy and Bail' and I, personally, would not want to faciliatate this transaction. Any lender with a good code of ethics should nott want to help you out. We all have licenses that are subject to revokation if we participate in fraud.
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Fri Apr 6, 2012
Pacita Dimacali answered:
First one you should ask is your agent.

Then look in your contract -- what did you state are your obligations to pay? HOA doc fee and transfer tees are negotiable ( but in a short sale, don't count on the seller/short sale lender to pay for it)

Are you buying a bank-owned property, short sale, or regular sale>

When are your contingencies due to be released/cleared? If you released your contingencies already, then no, you may not be entitled to get your deposit back (limited to 3% of purchase price) which the seller may be entitled to keep as liquidated damages.

No one can tell you what you are entitled to get back without looking at the provisions of your contract and your contingency status. Your realtor should address your question.
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Tue Oct 25, 2011
Sally Blaze answered:
I would suggest talking to (and paying for) a real estate attorney regarding the liability between the time you "walked away from my condo in April 2009" and the "condo foreclosed in Aug 2011". ... more
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