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Foreclosure in Ventura County : Real Estate Advice

  • All57
  • Local Info1
  • Home Buying31
  • Home Selling5
  • Market Conditions0

Activity 65
Sun Apr 5, 2015
Sheryl Arndt answered:
Hello Deefone, what is your question? Do you want listings emailed to you to study and consider?

If you figure out what cities/zip codes you are considering, minimum number of bedrooms and the maximum payment/price you are looking to achieve you can be emailed listings to fit your search criteria. Your email address is needed to set you up for the automatic daily updates.

You will need to be pre-approved if you decide to buy to be able to meet an agent to view and submit offers on any homes of your choice. Your qualifications will be determined by your credit profile, debt to income ratios, fico scores, home price, loan program and how much you want to invest into the down payment and closing costs.

You may qualify to buy FHA with fico scores between 500-579 with 10% down or minimum 580 fico score may qualify FHA 3.5% down or as low as .5% half percent down payment program. You may consider 3% down conventional from a minimum 620 fico score. Your fico scores can be raised within 3-4 days in most cases to qualify for programs, rates and terms as necessary.

It only takes a few dozen questions to qualify, go over your options and email you listings to study and compare. Here are some links to study as well as web reference links to many loan program pages offered...

Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
Veteran & VA/CalVet Loan Specialist
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If my response was helpful, consider clicking Thank, Link or Best Answer.
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Fri Aug 1, 2014
jorgecahuantzi asked:
Tue Jul 8, 2014
Greg Palazzo answered:
If you have an address I can point you in the right direction. If the home is located in Ventura County (and you have an address) I can assist you.
0 votes 1 answer Share Flag
Sun Feb 23, 2014
Barry Shapiro answered:
The Somis property, a short sale at 3838 Groves Pl, Somis is now SOLD. The list price came down to $999K and SOLD for $925K about a month ago, on 1/24/14 -- Listing #12014138. I hope this is useful information. There are similar properties available in rural Somis. Thank you for your question :-) ... more
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Sat Feb 1, 2014
Eve Rose answered:
If you are asking about the house on Birdsong, it has been leased.
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Sat Dec 21, 2013
Jennifer Weston answered:
That's just a starting offer at an auction. If you pull up the comparables in the neighborhood it's more around $300k. If you haven't had experience with auctions you should go to one before investing. ... more
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Thu Nov 14, 2013
Jennifer Weston answered:
Hi Jasper,

Is there anything else I can answer for you?

0 votes 12 answers Share Flag
Thu Nov 7, 2013
Jennifer Weston answered:
The best way is to work with a local realtor for the area your interested in. Not only do they have access to the MLS but they may be knowledgable of other great properties that are not yet listed. ... more
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Tue Sep 24, 2013
JR Thrasher answered:
You either have to wait for the bankruptcy to be discharged or get permission from the trustee/judge to move forward with the sale. Even with permission some banks will still not move forward.

You would need an attorney to advise you further.

J.R. Thrasher
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Mon May 13, 2013
Blanca Dover answered:
I agree with Chris, it would be best to find an attorney in Riverside County.
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Tue Apr 9, 2013
Chris McCloud answered:
They can try anything they want they own the property. The first will usually just foreclose on the HOA. Sometimes the HOA does this just to get someone out that has not paid there HOA for a few years. The HOA wants the bank to foreclose so that it can be resold and a new buyer will start
paying the HOA dues. Unless the first trust Deed is very small there is no money in it for the HOA most of these properties are way upside down.
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Sat Mar 23, 2013
Barry Shapiro answered:
Leisure Village in Camarillo is the perfect environment for senior living. It's a 24-hour Gated community, with onsite management, golf, pool, jacuzzi, and a plethora of activities from A-Z. Ohhh, and the weather is cooler in the summer-time than neighboring Simi Valley. Privately-owned Condo rentals range from apx $1600-2100/month.-- Ask me how you can buy a home here with a reverse mortgage purchase mortgage and never have a house payment again. ... more
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Thu Nov 8, 2012
Joe Gino answered:
list it for sale stop making any payments force them to a short if they agree.. Ur off the hook for both loans your credit report will show slow pay debt satisfied for less than full amount....... ... more
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Mon Oct 22, 2012
Barry Shapiro answered:
The property sold on 12/22/10 for $494,000.
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Mon Oct 22, 2012
Barry Shapiro answered:
The term “lis pendens” is Latin for “suit pending.” A lis pendens is filed against a real property to indicate that the title of property is in question, or that some sort of lawsuit involving the property could occur in the near future. When someone files such a notice, it serves as a public notification that the property is involved in a lawsuit. For property buyers, a lis pendens is generally viewed as a turnoff, as this legal notice could devalue the property, complicate the transfer of title, or make it impossible to obtain a mortgage on the property.

One of the most common reasons to file a lis pendens is when a property goes into foreclosure. If a lender feels that a foreclosure will be necessary, the notice forestalls any attempts to sell the property to evade foreclosure, since the legal notice will turn up on a title search. A lis pendens may also be filed if someone feels that he or she has a legal claim to a property title, or in any other circumstances where people want to question the validity of a property title.

So, since title transfers directly to the note holder/mortgage company at the trustee sale, a Lis Pendens will not stop the transfer from mortgagee to mortgagor. It could temporarily delay an immediate future sale, in the event the property sells to a private party at the trustee sale. Seek legal advice from an attorney.
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Sat Aug 25, 2012
Trevor Curran answered:
Good afternoon Roy and THANK YOU for your Service to our Nation!

I've been helping First Time Buyers and Veterans for 23 years as a mortgage professional and I will tell you what I have always told my clients here in New York: If you are a First Time Buyer, steer clear of foreclosures and short sales.

Foreclosures are someone else's headache. The home probably has not been well-maintained and you're a First Time Buyer adjusting to paying a mortgage. Do you really want to walk in the door to someone else's deferred maintenance that YOU will have to pay for? Also, if you're thinking there are deals to be had in terms of lower prices, mostly those "deals" go to professional investors who can pay cash, negotiate hard with a Lender, and close fast.

For Short Sales, my attitude of late is that First Time Buyers should steer clear. Short Sales tend to be a better deal for the homeowner than for the Buyer. You'll wait MONTHS for the homeowner's Lender to approve the short sale; maybe as long as Six or Seven Months. Meanwhile, you're stuck in a contract to buy that home. I closed a short sale recently with a Buyer who, after seven months said this at the closing table, "I don't even want this house anymore."

And he didn't even get the "deal" on price he thought he was getting! The house appraised for only slightly more than he paid for it at the short sale price. He walked into this deal thinking he was buying a home for $100,000 less than it's value. In the end that wasn't the case.

There are plenty of motivated Sellers with their homes listed on your local MLS. Go find a good Local Mortgage Banker, get prequalified, then find a great, experienced Realtor, and buy the home you want at the price you're willing to pay. It's a Buyer's Market, after all!

Trevor Curran
NMLS #40140
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Sun Jun 24, 2012
Bonnie Sterling answered:
From my experience, be careful of any promises to save your credit. If you default on your mortgage payments, your credit will be adversely affected. Period. Also, almost any realtor has the ability to help you with your decision to short sale if that is what you decide to do. These certifications are frequently one day classes, I have one, lots of agents have one, I don't think the one I got several years ago has any relevance to short sales conducted today and I don't think it made any difference in my ability to handle a short sale then or now. So, if you want a realtor to work with, interview or at least start to communicate with two or three. Determine if your communication styles are compatible. Your going to be working with them for 3 months minimum, probably more like 6-9 months depending on your goals and you're gonna want to like them.

You have lots of great questions and considerations. These are all good things to go over with a couple of agents. Meet them at their office, communicate by email, of have coffee. Listen carefully. If your hearing all the answers you want to hear, your probably not getting told the whole story. If your hearing choices you'll need to make, none of which sound great, your probably getting the real story.

Also, this is a good time to point out that frequently people who are not accustomed to communal living styles, like apartments, are frequently frustrated with condo ownership. Either their neighbor has a noisy tv, or crying babies or they smoke and it filters into your home. You can't control these things. However, people who are used to this, the way the grew up, will find it just a part of life. Consider how picky you are. How much you want to control your surroundings before jumping into condo ownership. The desire to own a home should not cast aside the desire to live comfortably with your surroundings. You might need to wait to afford to own the type of home you'd be comfortable living in, and owning.
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Fri May 11, 2012
Chris Chin answered:

I recommend contacting an agent in Memphis TN regarding your inquiry on 3352 Berea Rd. If you are planning on relocating or buying investment property, you are going to need an agent in TN anyways.

Chris Chin
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