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Foreclosure in Norwalk : Real Estate Advice

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  • Local Info5
  • Home Buying30
  • Home Selling3
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Activity 11
Oscar Gonzal…, Real Estate Pro in Norwalk, CA
Sat May 24, 2014
Oscar Gonzales answered:
Hello,

Nope, will not affect your credit. Has nothing to do with your credit. A loan mod is a re structure of your mortgage which is non credit based.


Oscar Gonzales
WestCo Realty
562-244-2055
BRE# 01771716
... more
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Dan Tabit, Real Estate Pro in Issaquah, WA
Tue Nov 1, 2011
Dan Tabit answered:
Inneedofhelp?
Are you behind on your payments? Sometimes when a borrower gets far enough behind the lender stops accepting individual payments and wants to work out a long term solution. This can included a repayment program, loan modification, short sale, deed in lieu of foreclosure or just outright foreclosure. Lenders will often try and work with you, if you get in touch with them. The critical thing is to be in touch with your servicing lender. ... more
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Robert Chome…, Other/Just Looking in San Diego, CA
Thu Oct 27, 2011
Robert Chomentowski answered:
I re-read that and think you mean Cal Vet? Give them a call http://www.calvet.ca.gov/.
0 votes 2 answers Share Flag
Inneedofhelp, Home Owner in Norwalk, CA
Thu Oct 27, 2011
Inneedofhelp answered:
No, it is not a Notice of Default it is a "Notice of Cancellation" and that was all that was on file. I actually found out about it only after a relator came to my home and showed it to me. ... more
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,  in
Thu Oct 27, 2011
answered:
I think you may mean a notice of default. They will probably want all past due funds and legal fees to take it out of default though. But you never know call them and see if you can work out something.

Good luck
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Inneedofhelp, Home Owner in Norwalk, CA
Thu Oct 27, 2011
Inneedofhelp asked:
John Arendsen, Real Estate Pro in Leucadia, CA
Mon Sep 19, 2011
John Arendsen answered:
Great answer Shel-lee. You're spot on.
0 votes 5 answers Share Flag
Rick Manzana…, Real Estate Pro in Los Alamitos, CA
Wed Apr 28, 2010
Rick Manzanares answered:
You can register yourself at the court house, you will need to show them Cashier Checks after which they will put you on the approved list. Good Luck
1 vote 1 answer Share Flag
BOB Khalsa, Real Estate Pro in Newhall, CA
Tue Jun 16, 2009
BOB Khalsa answered:
Bret:

Give me a call.

Bob Khalsa, Certified Commercial Investment Member
Broker Owner
United America Realty
bobfoxbat@gmail.com
213-926-5847
0 votes 2 answers Share Flag
Benny Chavez, Real Estate Pro in BELLFLOWER, CA
Wed Apr 29, 2009
Benny Chavez answered:
As a child I wanted to grow up and become an architect, in high school I wanted to become an attorney, in college I studied voice over and worked for the college radio station. I learned customer service from the business ventures my entrepreneur father created. The apple doesn't fall far from the tree. I bought my first property, 10 Acres of land in Joshua Tree at the age of 19 and have since then continued my calling as a real estate consultant.

If I can be of service I'd love to.....
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Holly Grigai…, Real Estate Pro in Cottonwood, AZ
Thu Nov 15, 2007
Holly Grigaitis answered:
Canada has some very interesting dynamics right now....definitely something to look into!

Notes- I work in a retirement area where there are a lot of investors/individuals who are at a place in life where they just do not want to deal with the hassles of renting, remodeling or developing.....so they become the "angels" (originating loans instead of buying existing ones) of the younger generation of area investors through private notes. It works great...the real estate is local, so there is a much greater level of comfort because they already know the market, are familiar with the area or neighborhood, and they have the ability to watch a project progress... Arizona also has a streamlined foreclosure process which only takes 90 days...and costs are usually only 1000-2000...., which makes recovery of an investment gone awry much easier to recover from. If you are investing in discount notes, know the state laws of foreclosure and lending...and give the area a through once over by cruising MLS listings in the area, but notes, whether you buy or originate them, would be a nice armchair investment occupation.
Tax liens...You need to check the property carefully and sometimes the interest rates at the auctions are bid so low, you may do better with a bank savings acct! Even though your chances of acquiring a property via a tax foreclosure are very slim...many times the land acquired has been deemed worthless or has some major issue (people sometimes get rid of "worthless land" by purposely letting it go to a tax sale). I have seen people acquire 12 ft strips, river bottoms and brownfields. but I have also seen people acquire a home for 1% of it's value and those who acquired worthless land for 150$ in back taxes...sell it for 12-20K 5-10 years later. But you will have to constantly buy new liens, because most of them will be redeemed long before they go to sale.
Whether or not foreclosures will make sense or not, depends on the market they are located in, but in my experience, they are more of a hands on investment in order to be profitable. This may not be the best option for you.
Hope that helps!
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