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Foreclosure in Vista : Real Estate Advice

  • All110
  • Local Info11
  • Home Buying27
  • Home Selling4
  • Market Conditions4

Activity 14
Thu Feb 20, 2014
Sinead McAllister answered:
Hi Tayotte,
Unfortunately, when Trulia shows a house in "pre-foreclosure," it can just mean that the seller has missed one or more payments. I saw that you mentioned that you were new at this. I live and work in Oceanside, California and specialize in all of North County (including Vista). I would be happy to work with you and guide you through your first home purchase. Call, text or email me using the information below and we can get started!

Thanks!
?Sinead McAllister-Clifford
Real Estate Broker/ RealtorĀ®

McAllister Homes Real Estate
Residential Sales & Property Management
www.McAllisterHomes.com
License 01366009
858-205-5215 CELL
info@mcallisterhomes.com EMAIL
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Fri Jan 3, 2014
JR Thrasher answered:
No, not ever, you will never find a home for sale that cheap in San Diego. I wrote a blog here on Trulia explaining how they list foreclosures, I'll put a link to it in the web reference below. That should answer all of your questions. ... more
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Thu Jan 2, 2014
Tony Cannon answered:
The current landlord may no longer be the owner if they sell the house in a standard market sale, short sale, or via a quit claim deed. They may also lose the house to foreclosure at the trustees sale or voluntarily with a deed in lieu of foreclosure.
Since your question is from 2011, how did things work out for you and what did you find as the best way to get notified of the transfer of ownership?
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Thu Jan 2, 2014
Tony Cannon answered:
A couple I have seen used around here are Field Asset Services http://www.fieldassets.com/become-a-vendor and LPS https://www.lpsfs.com/fs2/FieldServices/QualityControl/tabid/69/Default.aspx
Hope that helps you get connected with the right people.
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Tue Nov 15, 2011
John Arendsen answered:
I've actually been down this road with a client before. Client signs one year lease with owner 1st, last and security representing 1 months rent totaled 18k. Client finds out homeowner isn't paying the lender but instead pocketing the money. They ask me if they should continue making payments.

I advise them to seek legal counsel. Legal counsel advises them to cease making payments directly to the homeowner and see if they can work directly with lender. Lender says they can't do that legally. Counsel continues to tell them to cease making payments directly to homeower and put all payments into savings account.

2mths later homeowner gets default notice and within 6 mos client has now accumulated close to 40k in savings. Home goes to auction and new owners pay client 12k cash for keys. client now has over 50k in savings on accumulated rent alone plus other holdings.

Client accepts cash for keys offer and I sell client home. End of a very unusual but happy story. All kinds of things going on in this wierd and unprecidented RE market today. I'm not suggesting that anyone follow this protocol. It's just a story I'm sharing. Bottom line is always seek counsel on this type of thing first. It could ruin your credit and get you into a whole lot of trouble just as easily.

Bottom line? Every deal is like trying to match DNA. There's about a billion to one chance that you'll ever find one exactly like yours.
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Thu Jul 28, 2011
Sainnyin answered:
We, the borrowers, did not create this housing mass; the banks, brokers and the real estate agents did create it.
Your next-door neighbors, who just recently moved in the same size and style house as yours, only pay half of what you have been paying per month. >>>Talk to your lender first. Fill out home loan modification document and send it to them. They will reduce your interest and payment significantly. If they denied your applications, then STOP playing. During the process you will be able to live in your home for at least 8 months for FREE and submit more applications until you get the help. How much do you save during that time? If they tell you to move out just keep staying and save money and tell them that you have been asking for help. More likely they will help you reduce your monthly payments at least 1/4. Some even stay in their homes for over 3 years for free and save the money for down payment on next home. ... more
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Fri May 7, 2010
Pacita Dimacali answered:
Missing one payment won't change the fact that you'll be one month behind even if you make next month's payment. That WILL show up on your credit as 30 days late. If you don't catch up with that payment, then it will be 60. Then 90, 120 days overdue. etc. Simply put, that missed payment creates huge waves. And the impact could be significant.

Can you cut back on your expenses instead? Pay your credit cards on time so that you don't incur a late payment fee that adds up to your balance. Look for other ways you can reduce your monthly spending.

And when you're back on your feet, make it a habit to "pay yourself" by setting aside some savings for rainy days like now.
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Wed Mar 10, 2010
John Bennett answered:
Hello Sasha, my partner ,who is a real estate attorney, gives free legal advice to homewoners. We own a real estate office in Orange County but we do business all over Southern California. We specialize in advising clients who are considering a short sale but are not sure of their options. I can be reached at 949-400-4500. ... more
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Thu Nov 5, 2009
Bill Eckler answered:
Repair and maintenance issues are NOT acceptable hardship criteria used by banks. They generally look at loss of income, declining health, disability etc when determining the special needs of borrowers.

Be sure to explore all options prior to walking away from your home and your responsibility to the lender.

Good luck
The Eckelr team
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Wed Sep 9, 2009
Edward Peckham answered:
Julia,
You are in the same bind that thousands of others are in right now. If you have enough income to make the mortgage payment but simply feel cheated because of the decline in the value of your house, the bank is not likely to modify your loan. Your next alternative is to do a short sale. But, if you are not financially strapped, the bank may not agree to the short sale or they might want you to contribute some funds to complete the sale. In essence, it all depends on your finances. If you add in the factor of the move, it might help you with the bank. Your best bet is to put the house up for sale and then ask the bank to approve the short sale based upon all of your financial factors.
Ed Peckham
Peckham Realty
858-278-0881
Cell 858-354-9686
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Wed Jul 22, 2009
Edward Peckham answered:
Once the foreclosure deed is filed with the county recorder's office, lawyers are hired and they give notice to the residents to leave in 3 days or an eviction process will be started. If the residendts do not leave a complaint alleging unlawful detainer will be filed in the Superior Court and the residents will have 5 calendar days to answer after they are served with the complaint. If the residents don't answer, the case will be set for default and a judge could issue a order for possession immediately (thus usually takes about 10 days). The order for possession is then served on the residents by the Sheriff who can remove the residents and lock them out of the premises. The Sheriff will take about 10 days and give the residents about 3-5 days to leave. The whole process will take between 30 to 45 days if done promptly.
I am an attorney and real estate broker and specialize in real property issues.
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Tue Jun 9, 2009
Tam331 asked:
I am a lender on a plant nursery in Vista, CA. The trustor has filed Chapter 7 bankruptcy and I have been
told, by the attorney, that I cannot start foreclosure until September when the…
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Sun Nov 2, 2008
Harrison K. Long answered:
The $50,000 stated on foreclosure notice is probably the opening bid request. That could be foreclosure on the note secured by the 2nd deed of trust. If a person buys the 2nd out of foreclosure, he or she would take title subject to the first and senior lien holders.

Let me know if you need other information.

Harrison K. Long
Realtor and broker
Coldwell Banker Previews, Irvine, CA
949-854-7747
Check out The Best Property Search Web site in California
www.BuyersExploreHomes.com
hklong@cox.net
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Wed Jan 9, 2008
thinz answered:
Have you stopped making payments to the lender now that the house is on the short sale market? If not, I would try to continue to keep making HOA payments. Either way if you don't pay them, there will be another lien on the home at closing time that will need to be settled. If you have a true hardship and are behind in payments to the lender, I would add the HOA fees to the HUD-1 just like I do for things like delinquent property taxes, etc.
I am handling a short sale for a couple in a 55 and older community tha has HOA fees...In their case, we are still paying them since it is relatively low. The main reason is they want to keep a low profile in this tight community while we pursue the short sale.
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