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Medford : Real Estate Advice

  • All24
  • Local Info4
  • Home Buying6
  • Home Selling1
  • Market Conditions2

Activity 19
Mon Aug 21, 2017
Kathy Burgreen answered:
I'm a recently retired realtor and being a life long NYC suburban resident, I looked up your listing so I see what happened. By the way, Zillow and Trulia are the same company (Zillow Group), so I checked Zillow first and their website is fine.

On Trulia, if you scroll down to "Foreclosure Information", it states you were served with a "Notice of Lis Pendens" from the Bank of New York Mellon on Sept. 14, 2016 and that your mortgage loan is in default. Later on The Bank of NY Mellon served you with foreclosure notice. Underneath "Foreclosure Information" is "Legal Details". If you click on that, it states the Judicial Notice Attorney is McCabe Weisberg and Conway PC at 145 Huguenot St., Suite 210, New Rochelle, NY 10801. Tel: 914-636-8900.

You need to know that any legal action is public information, so if you received any notice from the Bank of NY Mellon, it is public information and can easily be obtained from Suffolk County's tax assessor's public database. At the top of the listing where it says "Contact for Estimate" - above that in light gray lettering, it says "Foreclosure - Notice of Default". "Contact for Estimate" means to contact the Judicial Attorney - McCabe Weisberg and Conway in New Rochelle.

I don't know if you were served with a Notice of Default or if your home is in foreclosure but you need to know that in today's real estate world and economy, many buyers don't have the income or finances to purchase a home on Long Island, so they all look for bargains. This means searching for every single short sale and foreclosed home there is - whether you are in foreclosure or not. All these buyers need to do is either search on Zillow, Trulia or other websites OR visit the county in person and get the information there. At this point, I would verify with Suffolk County Tax Assessor to see what they have on record because this is where these websites get their information from. They pay 3rd party vendors to copy tax records from counties across the U.S. You can request that Suffolk County delete your address from their public database, however, I cannot guarantee they will do it.

As for the Judicial Attorneys in New Rochelle - this happens to be where I live. Since I have frequently commuted to LI and back, take my advice if you intend to visit the attorneys in person.
Bring plenty of quarters with you. All of downtown (business district) is metered parking and the police do give out tickets for expired meters. There are parking garages and you will need to pay.
Travel time - about 1 hour. Don't rely on Google or other website travel times. You will run into traffic on the bridge and highways. The bridges are under construction so allow extra time.

Hopefully this information helps.
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Thu Mar 10, 2016
Travis answered:
We started UpNest ( to help you compare top agents that compete to earn your business. Since agents compete for you, they offer their very best rates and services. You'll also get to "comparison shop" like you do for all the other things you usually pay for. It's free and there's no risk to try us out, Good luck! ... more
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Sat Sep 12, 2015
USMortgageRanger answered:
Let the seller know that they are responsible for the survey and if you do not have one from them you will have to have it ordered and paid by them as per the contract.

Lowell Sterling
Mortgage Banker
NMLS 968898
Capital One Bank
Phone (469) 315-1709
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Sun May 4, 2014
nesurk1 asked:
This question was asked from…
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Tue Feb 4, 2014
Anna M Brocco answered:
Perhaps your question was cut off, what information are you can check the consumer version of MLS...
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Wed Sep 4, 2013
Thomas Brady answered:
There are currently 9 houses for sale between $125,000 and $150,000. The average tax of those homes is $7,478 the low is $5,429 and the high is $9,187.

Tom Brady SFR, e-PRO, SRES, BPOR
Licensed Real Estate Salesperson
Notary Public, Retired N.Y.P.D. Lt.
#1 Listing & Selling Office on Long Island
Charles Rutenberg Realty, Inc.
255 Executive Drive - Suite 208
Plainview, New York 11803
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Fri May 24, 2013
Jeannette Batsikas answered:
Great answer Tom very helpful. Braulio have you ever thought about a shortsale???? They are just as good as a foreclosure... I'm sure Tom can help you I was just reading through and thought I commented about other options maybe even buying a business that can give you a residual income every month. WIsh you the best. Jeannette Batsikas ... more
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Wed Apr 10, 2013
Jacques Ambron answered:
In my opinion there are several factors to consider. Stone surfaces are more impressive than formica. If you your kitchen is old however than investing in a stone surface might not be worth it. If you have an updated kitchen then there would be an added value. ... more
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Tue Sep 25, 2012
Anna M Brocco answered:
Consider contacting to school, and or any board member, and or anyone uou may know that attended....
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Sun Aug 26, 2012
Anna M Brocco answered:
Commission is always negotiable between you and your agent, there are no set standards; therefore choose your agent with care and not by commission alone.
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Fri Aug 19, 2011
Jack Gillis answered:
You need to start with a Realtor and/or mortgage lender, as it will take both. Once the lender gets you qualified your Realtor will walk you through the entire process.

Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
United Real Estate, Broker
5430 LBJ Freeway | Suite 280
Dallas, TX 75240
Cell: 214.718.4910
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Thu Jul 7, 2011
Annette Levinson answered:
If you go to FFIEC Gecoding, you will get the breakdown of the area by income, owner occupied and minorities compiled by the government.
The school district can only tell you what percentage of the students get free lunch or discounted lunch. ... more
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Fri May 6, 2011
Dawn Barrier answered:
You really need to get with your agent on this one, and there are some great answers below.

There are so many factors to consider when dealing with short sales.
I don't feel there is any set % when making offers on short sales (JMO)

Remember, you could be competing with other buyers even on short sales, so you want to come up with the price you want to pay for the home regardless of a %. (JMO)

Remember, on a short sale, the bank is going to determine what price they are willing to "short" the home for and the asking price is a "starting point" usually based on recent comps and how the market is moving in that particular area.
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Fri Mar 19, 2010
Anna M Brocco answered:
Fair Housing Laws, prohibit real estate professionals from steering—enticing a buyer to purchase, or not, in specific neighborhoods; therefore you should do some homework of your own to assure your comfort level can be reached. Also keep in mind opinions are subjective--what's good for one is not necessarily the case for another. ... more
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Mon Dec 28, 2009
Meredith C Kurz LSA CBR EPRO answered:
Is your zip code 49307 or are you looking in Suffolk County and this just popped up? I'm not sure of your area, but here's what's happening on Long Island in Suffolk County:
>>Suffolk County has a 2 year court back up on Foreclosures, which means, if someone defaults on their mortgage, it will be two years for the property to be put on auction on the court steps. I'm guessing this situation is true across the country in certain areas. What this means to you as an investor is you will be seeing the banks' motivation leaning towards a short sale, where the bank can recoup at least a portion of their monies.
>>In our area, agents often use the following grading system: look for it when you look at listings online:
GRADE A=Diamond GRADE B=Mint GRADE C [handymen]= Excellent GRADE D [bulldozer or frame]=Good or As Is or a Blank
>>There are very, very few houses with 4 bedrooms and 1 Bath - I'd look in Rocky Point, Sound Beach or other areas that were once just beachy vacation areas back in the 1930's.
>> I live breathe and eat real estate full time - so if you're interested in professional service, hire a professional like me!
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Sat Sep 12, 2009
Robbie Vaughn answered:
This is a good one. Arlene, you must consult with your attorney to get a direct answer to your question. A lot depends on the terms stated in your contract.

If contract states that you are entitled to funds + purchaser agrees= funds may be released to you.

If contract states that you are entitled to funds + purchaser disagrees= funds may not be released to you.

An attorney is not able to release funds held in escrow, to either party, if there is a dispute over entitlement to said funds. The funds are placed with the court and the parties engage in litigation or reach a settlement.

There are other alternatives and considerations which are beyond the scope of this Q & A forum. Hope this helps a little. All the best.

Now, my Disclaimer:
I am a real estate broker, but I am not your real estate broker. I am an attorney, but I am not your attorney. Therefore, I do not owe you a fiduciary duty, and no attorney-client relationship has been formed. This is not legal advice. You should verify any and all information provided to you.
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Thu Dec 4, 2008
Rich Murphy, NMLSR ID 408690 answered:
To be honest, I'm not happy reading any of the answers given so far. The reputation of the Banker or Broker you will be dealing with is of paramount importance. I can't stress enough that if you have not heard of them before, beware. Many "unknowns" offer ads that say they are lower in rate than many of the major Lenders you know of & heard of before. The old saying goes "if it walks like a duck & quacks like a duck, there's a good chance you have a duck on your hands". Mortgage Brokers are not capable of giving loans, only matching you with a Lender that is licensed to provide the mortgage. Much of the access Mortgage Brokers had to programs in the past has been taken away. Be careful. Ask lots of questions. And as stated earlier, if the Banker or Broker you are speaking to won't provide you, IN WRITING, with a GFE (Good Faith Estimate of Settlement Costs), run. No one should need you to give them $$ to provide this either.
Next, as Luke stated, credit scores are important. Borrowers with low scores can find that they become limited in what loan programs are available. More important in today's market is "verifiable income". The days of no-income loans is as extinct as the dinosaurs. (there are still a few programs left, but you will required to make bigger down payments & be subject to higher rates than those that can verify income). Down payment is the 3rd of the major factors. Larger down payments can allow you, in certain markets, to apply for a Conventional mortgage. Many markets have been classified as needing 10% or more as a down payment to allow for conventional applications. Those buyers that are working with less than 10% Down can utilize programs such as FHA. This is where I find a little fault with Luke's reply. FHA is not just for borrowers with weak credit. Having terrific credit, but limited funds should not keep you from buying.
Many states also offer special "State Bond Programs" meant for 1st-time homebuyers. In NY, the program is called SONYMA and details can be found at The FHA program requires only 3.5% down payment (as of 1/1/09). SONYMA still allows as little as 3%. Those buyers that are qualified Veteran's can also utilize the VA loan program. This is the only legitimate program available that allows purchasers to finance 100%.
Today's market, while depicted as "doom & gloom" by the media, is actually one of the best Buyers markets that has existed in years. Prices on homes have been reduced to affordable levels for many. Rates are at near historic lows. There are incentives for 1st-time homebuyers such as the Tax Credit made available by the Housing & Economic Recovery Act of 2008. If you are able, you should be out there looking to buy!
Please feel free to contact me personally for more information.

Rich Murphy
Wells Fargo Home Mortgage
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Fri Jul 18, 2008
Phil Svendsen answered:
Suggest you try some of your local brokerage firms who may have knowledge of salespersons who may be available on part time basis looking for some income. Also an ad or two in the pennysaver or like may turn up someone of interest for you. ... more
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