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Foreclosure in San Diego : Real Estate Advice

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  • Local Info150
  • Home Buying963
  • Home Selling105
  • Market Conditions78

Activity 217
Sat Oct 30, 2010
Vickie Madison answered:
Why are you waiting for aution sometimes you can get it cheaper at a short sale..what area are you in and i can refer realtors nationwide if you are not in my state. realestatemover@comcast.net ... more
0 votes 11 answers Share Flag
Sun Oct 24, 2010
Dennis Smith answered:
Patrick,

RealtyTrack just released stats that show there was a drop in the number of homes that were actually auctioned off while BOA stopped the auctions.

However, BOA was the only company that halted the auctions in CA. Most other lenders did not. Also, BOA did not stop the new filings of NOD's or NOS's. BOA has announced they are done with their investigation in CA and are starting again to auction off the properties.

This will be just a temporary little blip in the number of foreclosures on the market. More of a timing issue.

Dennis Smith, ABR, SRES, e-PRO, Realtor® DRE#00476662
CDPE - Certified Distressed Property Expert
RE/MAX By-The-Sea
... more
0 votes 3 answers Share Flag
Thu Oct 7, 2010
Portland_Real_Estate answered:
This site gives you streets and maps.
0 votes 8 answers Share Flag
Mon Sep 27, 2010
Amrasiri answered:
Sat Sep 18, 2010
Felix Hung answered:
Here are two free list with over 100 companies:

http://www.bpoaccess.com/

http://www.bpo-companies.com/
0 votes 3 answers Share Flag
Tue Sep 7, 2010
Patrick Hale answered:
Como?

They sell for around 180-220k..


MY TEAM HAS OVER 100 PRE-LISTED FORECLOSURES AND WE ARE THE LISTING AGENT! - Please Email Me If you Are Looking For A Foreclosure In San Diego. Over 30 of them are FHA/VA Approved and Fully Renovated!

Hope this helps!

Patrick A. Hale, CDPE, RSD
Short Sale & REO Listing Agent
Associate Broker

"The Best Way To Predict Your Future Is To Create It"
Keller Williams Realty
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
Mobile/Text: (858) 539-6803 I DRE License # 01777558
Office: 4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122

SHORT SALE EXPERTS WITH A MISSION TO:
"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit: http://www.SDRealEstate360.com
... more
0 votes 2 answers Share Flag
Tue Sep 7, 2010
Patrick Hale answered:
It is ultimately your decision, but as an investor and someone that deals with distressed homeowners and investors everyday...I would seriously consider a short sale. If you qualify, that may be the best option for you...



MY TEAM HAS OVER 100 PRE-LISTED FORECLOSURES AND WE ARE THE LISTING AGENT! - Please Email Me If you Are Looking For A Foreclosure In San Diego. Over 30 of them are FHA/VA Approved and Fully Renovated!

Hope this helps!

Patrick A. Hale, CDPE, RSD
Short Sale & REO Listing Agent
Associate Broker

"The Best Way To Predict Your Future Is To Create It"
Keller Williams Realty
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
Mobile/Text: (858) 539-6803 I DRE License # 01777558
Office: 4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122

SHORT SALE EXPERTS WITH A MISSION TO:
"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit: http://www.SDRealEstate360.com
... more
0 votes 27 answers Share Flag
Mon Aug 23, 2010
Khrystyna Chorna answered:
Hi, Lauren,
As other agents have answered before, it is absolutely possible if you can qualify.
You do have to be aware though that for foreign nationals requirements are at least 30-40% down.
Are you comfortable with that?
Also are you thinking of selling your home in order to make a purchase here?

Thanks,
... more
0 votes 5 answers Share Flag
Thu Aug 12, 2010
Patrick Hale answered:
These bus tours usually require you do sign up saying you will use that agency to represent you. Not the best idea if you get stuck with an agent you don't like. My advice is to find a knowledgeable agent that you feel can negotiate for the best price on your behalf.

They can show you what you need to see and you wont be unhappy with your home buying experience.

Patrick A. Hale, CDPE, RSD
Real Estate Broker & Investor

REO & SHORT SALE EXPERTS WITH A MISSION TO:
"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit: www.SDRealEstate360.com
... more
0 votes 5 answers Share Flag
Thu Aug 12, 2010
Patrick Hale answered:
I just got an approval on a chase short sale within 12 days. It may take longer depending on:
1) Who the bank is
2) If the loan is investor owned or not
3) If the agent who took the listing knows how to complete a short sale package (A CDPE designated agent is recommended)

I work mainly with short sale listings and have had listings take 10-360 days to get approval. Now, the 360 day number was at the beginning of this short sale crisis when BofA took over all the files from countrywide and they didn't have equator set up.

Now I am looking at 30-120 days for short sale approval depending on the bank.

Hope this helps!

Patrick A. Hale, CDPE, RSD
Real Estate Broker & Investor

"The Best Way To Predict Your Future Is To Create It"
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
Office: 4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122
National Real Estate: www.REofUSA.com
California Real Estate: www.REofCA.com

REO & SHORT SALE EXPERTS WITH A MISSION TO:
"Help Over 360 Distressed Home Owners Avoid Foreclosure"
If You or Someone You Know is in Financial Distress Visit: www.SDRealEstate360.com
... more
0 votes 6 answers Share Flag
Mon Jul 26, 2010
Cory La Scala answered:
Roy made a good point. Many of the properties being sold postpone for one reason or another, or even cancel altogether. Sometimes you won't even know if you call the trustee, and the auctioneer will get the call while you're waiting for the auction to begin. ... more
0 votes 5 answers Share Flag
Fri Jul 2, 2010
Anna Hershey answered:
Your situation is probably the best reason, not to be your own agent, a real estate agent would have prepared all the right documents, and you would have been protected, this is a very painful and costly lesson. You need to document all that ensued, I hope that there is a "paper trail" to prove that it was not your doing, and perhaps when needed for future transactions you will be able to bring it up, and not be penalized for your "friend's"missdeed. ... more
0 votes 5 answers Share Flag
Wed May 12, 2010
Nick Ruiz answered:
You really need to speak to an attorney on this. Theres so many different things in your docs as Jay stated but also on how the money was handled.
I suggest not even taking my answer as meat, or anyone else's on here for that matter.

Good luck!

Nick
... more
0 votes 2 answers Share Flag
Mon May 10, 2010
Claude Braunstein answered:
When that happens, it is most likely due to a misunderstanding between a lender representative and a Realtor or negotiator that is inexperienced in negotiating short sales. In most case, the borrower’s Realtor is negotiating with a lender representative, while a completely different lender representative is coordinating the foreclosure with the lender’s attorney or Trustee Sale Company. The problem is one of faulty communication between the parties. My team has handled over three dozen Short Sales on behalf of our clients and we have closed every one of them. A communication disconnect happened on several of our transactions. We kept everyone honest by keeping in touch with the Trustee Sale Company to make sure that the trustee sale had been postponed as represented by the lender representative.

When you decide to “short sell” your home, make sure that you are dealing with an Realtor that is an experienced “short sale” expert and not someone who plans on farming out your transaction to a “negotiator” who will be happy to close a percentage of their transactions. The Realtor you hire should have personal knowledge of how to get your short sale approved.
... more
1 vote 12 answers Share Flag
Fri Apr 23, 2010
Molly Beringson answered:
YOU MAY MAKE AN OFFER, YOU DO NOT NEED A REAL ESTATE LICENSE, BEST TO CHECK YOU AREA FOR HOUSING PRICING AND SALES TO MAKE AN EDUCATED OFFER
0 votes 12 answers Share Flag
Tue Apr 20, 2010
Arji Rashidi answered:
For future reference, the best thing you could have done in this sitution was work with a professional, someone who knows how to talk to the banks, and negotiate the terms for you. It can be difficult as a homeowner when you are in a situation like this to fully recognize all the steps and measures it takes to complete a transaction such as this. There were many options for you in the beginning if you had not tried to go about this on your own. One other option being a short sale. It is important to know and remember that when working with a professional to modify your loan, refinance, or short sale that in most cases there is no out of pocket charge for you. All fees are taken care of through the lender or on a contingent basis. It therefore is in your best interest to get help and to fully understand your options.

Unfortunately it seems as though many of the options that you had are no longer avaible. Did your home just foreclose or did it sell? In either case I would reccomend talking to an attorney and finding out if there are any options left. If the home only foreclose and did not yet sell there is a chance of reversing the foreclosure and trying then again to short sale or modify the loan.

Rachel - I would reccomend you also to talk to a professional, it is not too late for you to consider alternatives.

I wish you the best of luck as you continue this process and hope that in the future you will remember to seek advice, and options.
... more
0 votes 4 answers Share Flag
Fri Mar 5, 2010
Voices answered:
Hi Ken,

As you can see across the board, all of us Real Estate Professionals highly suggest talking to an Attorney, tax and accounting professional (that you feel comfortable with) to analyze your specific and unique situation.

Their are many options available to you prior to going into foreclosure (sale of the property at the courthouse steps) that could help relieve some of the issues a full foreclosure would bring. I would love to help you discover these options and see how we can come to a solution. I specialize in foreclosure and shortsales and understand these stressful circumstances. Let me know. I am a resource!
... more
0 votes 5 answers Share Flag
Fri Feb 26, 2010
Arji Rashidi answered:
If you are the seller and you have an agent, you dont need to contact the bank. Your short sale agent has been employed by you to utilize his expertise to negotiate with the bank. Often times when a homeowner calls into the bank, the bank will try to confuse you and lie to you to get you to make payments or concessions which are unnecessary in order for them to approve the short sale. Banks often use these tactics as a way of mitigating loss. As an unsuspecting homeowner, you may fall victim to these attempts and thus undermine your agents efforts. If you dont have an agent to help you <a href="http://www.sandiegoshortsaleassistance.com/Contact_Us.html">short sell your home in San Diego</a>, please click here to get more help. ... more
0 votes 5 answers Share Flag
Tue Feb 23, 2010
Terri Griffis answered:
I recently made an offer on a foreclosure in Florida. It was a full price offer (at a great deal) and it was accepted. We now own a lovely beach vacation home. I have found that a full price offer usually wins your prize unless there is a bidding war. I suggest you find a Realtor who is experienced in dealing with foreclosures within the area you are interested. ... more
0 votes 17 answers Share Flag
Tue Feb 23, 2010
Rex answered:
What an amazing number of responses! Thanks to all of you for your answers! I've asked the Cash for Keys REA to email a summary of options to me so I can print them and hand out to my fellow roomies. I failed to mention that there are 4 other roomers living in this very large home plus the ex-owner couple. The REA asked me to collect all the phone numbers of the other persons living here so she could speak to them. At this point, I haven't fulfilled my obligations as not all the roommates are available and I've received no mail as of this morning to explain the situation. The REA said everyone in the home will have to sign an agreement as to when we will vacate so whatever the amount might be will be devided by the numher of tennants and defaulted owners. My plan is to move out ASAP which will be by EOM so there will be no question as to whom I pay rent and hopefully I might be able to recieve some assistance once the agreement is fulfilled. I will be calling the REA this morning with the phone numbers I've collected and ask her how all this is going to come down as it stands right now. Thanks again for all you help! You're awesome! And thanks to the creators of this site and this forum!

Rex
... more
0 votes 11 answers Share Flag
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