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Foreclosure in San Rafael : Real Estate Advice

  • All110
  • Local Info25
  • Home Buying35
  • Home Selling8
  • Market Conditions2

Activity 6
Thu Jan 2, 2014
Sylvia Barry, MAS,CIPS,SRES answered:
Hi David:

Please call me at (415) 717-0293 or email me at to discuss what your specific needs are in Lochness Lane. I will be very happy to help.

0 votes 2 answers Share Flag
Thu Jan 2, 2014
Ruth and Perry Mistry answered:
How did things turn out ?

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Tue Jul 3, 2012
Kathleen Diringer answered:
1. Short Sale Basic: To do a short sale, all lien holders must agree in writing. If they All do, then they can NotT come after you for a deficiency judgement. This applies to ANY loan. This law is good for all short sales in CA thru 2013. This great law may not be extended, we will not know until...the end of this year!
Do your short sale now.

2. Foreclosure - Usually its the first lien holder who forecloses. Any balance money notneeded to pay back 1st lien in full then goes to the 2nd lien holder, and isf any left to the 3rd leien hodler. In CA, the Deed of Trust states the holder only gets the house OR the money, not both. So 1st usually goes away, but those pesky 2nds and 3rds can come after you.

Try a short sale. Its best. Call me with any more questions, been doing this for quiet sometime.

PS- new law CAR is trying to get approved......If you have a PrerApproval short sale letter from all Lien holders..they can not foreclose on you. At this time, the short sale is never complete until the lien holders receive AND accept the money paid to them. You want your escrow to confirm this.

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Wed Feb 3, 2010
Tristan Celayeta answered:
The responses received will get you along the way., 888-995-4673, provides free counseling and guidance for distressed mortgages from HUD intermediaries.

There is an excellent real estate primer and reference at that you should bookmark for ongoing use. answers virtually all questions one can conjure regarding mortgages. This website is info only written by Jack M. Guttentag, Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania.
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Tue Feb 24, 2009
Tristan Celayeta answered:

As you can see from the responses garnered "it ain't so simple".

I've attached a link to inside the website for The Mortgage Professor. Jack M. Guttentag is Professor of Finance Emeritus at the Wharton School of the University of Pennsylvania and his site explains so much about mortgages it'll make your head spin.

The advice from Rob Spinosa is dead on. You need a letter of preapproval/prequalifiaction in hand to write an offer and also, principally, determine a price ceiling that you should always look below. I recommend that you seek the best deal and don't go for steals because you can easily end the one who gets the short end of the stick.

Next you should find the "best" agent possible who will work with you and for you to locate and secure the best deal on the market - that's about all one can ask for.

If I can help in any way feel free to be in touch. Search REALTZ and there I am.
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Mon Feb 23, 2009
Thomas Tremblay answered:
I look at For Sale By Owner sites from time to time to see what is available in our area. I have been selling real estate in our area for over 25 years and have a good handle on values. The last 2 condominiums I found on a FSBO site were over priced by $120,000 and $25,000. I think a buyer has to approach a FSBO with caution and make sure you do a good analysis of market values. Perhaps it is not a case across the boards but without an expert to help guide you, it is like a pig in a poke. Regardless, I think it is good for a buyer to look at all the options. The more you see the more you learn, the better you can evaluate the "right house" when you find it. Even when I am showing prospects various listings I suggest seeing properties above and below their budget so they can establish a "yard stick" to measure the value of the home they select. Good luck. ... more
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