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Notice Of Default All Locations : Nationwide Real Estate Advice

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Showing results for Notice Of Default [Clear search]
Sun Feb 3, 2013
Thom Colby answered:
You shoudl direct this question to your Broker - But,

Based on the limited information in your question. The only parties that can actually cancel the Escrow is the Seller and the Buyer (They BOTH have to sign cancellation instructions). No one else is a party to the Escrow. ... more
0 votes 6 answers Share Flag
Fri Aug 18, 2017
Tim Moore answered:
No, if it was foreclosed it is no longer yours, it belongs to the bank now and if they can get more then it is there profit. My question is if they can get more than was owed why didn't you sell it when it was yours? ... more
0 votes 14 answers Share Flag
Mon Jan 28, 2013
Cyndi Mino answered:
Hi, Richard. No, this is not the same as a selling price. It is the amount of the loan that deficient. When you see a home as a "pre-foreclosure" with a loan amount, the owner is behind on his payments and the lender has placed this staus on the home. There are many options for the homeowner at this point. If you would like more information on this process, just let me know. I have a lot of experience with short sales and foreclosures - see my designation of SFR. ... more
0 votes 6 answers Share Flag
Sun Jan 25, 2015
Hector Gastelum answered:
Making a fair offer, having the right REALTOR, relationships and having the best terms helps you buy a home.

Hector R. Gastelum
Candidate for California State Senate District 40
& Realty Executives Dillon
REALTOR #01382940
2240 Otay Lakes Rd. #306
Chula Vista, Ca 91915
hectorgastelum@yahoo.com
619-954-2225
125*142*10754
efax 619-270-2516
... more
0 votes 16 answers Share Flag
Mon Jan 28, 2013
Steven Ornellas answered:
Hi Tjbartel7,

I would just caution you if the property listings are from RealtyTrac, which is a company who advertises "foreclosure listings" on Trulia. RealtyTrac's primary objective is to separate you from your $$$ in exchange for providing information most any Realtor® can provide you for FREE.

Please see:

MLS Data Accuracy – Where to search if you’re “without Realtor®”
http://tinyurl.com/ctr4d44

Here's a quick diagram explaining the process of actually getting to the status of an actual foreclosure (the property above is on the very first step and may never become a foreclosure):
http://www.foreclosureradar.com/foreclosure-guides/foreclosure-101/non-judicial-foreclosure-process

As far as having the most up to date listing information for ACTIVE listings team with a local Realtor® who can set you up with an automated search for what you can afford.

-Steve
... more
0 votes 4 answers Share Flag
Tue Jan 22, 2013
June answered:
First of all Trulia, you will need to define "insufficient air conditioner".
0 votes 7 answers Share Flag
Sun Jan 27, 2013
Mark McNitt answered:
Diana,

The lot is for sale at $33,000, not the $24,500 posted here. The posting is not the listing Realtor.

ML #: 16588439 You can see the lot on www.HAR.com The contact information is there to speak to the Realtor representing the seller.

If you need help presenting an offer, let us know. You can drive by the lot and if it looks good, we can review sale comps. It has been on the market for almost a year.

Mark McNitt
m 832-567-4357
Bernstein Realty, Inc.
... more
0 votes 5 answers Share Flag
Sat Jan 19, 2013
answered:
Buying a foreclosed property is always possible if not slightly more challenging due to a few factors.

First, from a mortgage lender's perspective the subject property must be in inhabitable condition. Sometimes foreclosed properties are anything but inhabitable with distressed structures, mechanicals, or even missing fixtures.

Second, they will typically have a very tight window during which to close your mortgage so time is of the essence whenever dealing with foreclosed properties.

Ron Fronckowiak
Licensed Mortgage Professional
R & R Funding, Inc.
716-685-9696
... more
0 votes 4 answers Share Flag
Fri Jan 18, 2013
Anna M Brocco answered:
If you are rteferring to RealtyTRac ads; keep in mind that RealtyTrac's information may not always be accurate and oftentimes can be misleading--you could be looking at a lis pendens property--notice of default--some of those properties may not be for sale yet, and some may never be, if the default is satisfied by the owner. If you are interested in foreclosures, work with an agent, as most do end up being listed by a broker--he/she will have access to reliable information--also don't overlook traditional sales as some may turn out to be a much better bargain than some of the foreclosure properties. ... more
0 votes 3 answers Share Flag
Tue Jan 22, 2013
Libardo Quintero answered:
Is this the first sale date or have you postponed the sale before on this particular property?


2010LQZ@email.com
0 votes 8 answers Share Flag
Mon Feb 4, 2013
William McBurney Jr answered:
I can answer only with respect to New York law, not California.
Someone who knows California law will answer.
0 votes 6 answers Share Flag
Mon Feb 4, 2013
Heather Paul answered:
Hi Tony, unfortunately this property is not an actual listing, the owner is now 90+ days late on their mortgage, or better known as a pre-foreclosure. This property may become an REO "foreclosed home" in the future or the owner may also bring all payments current.

You can view all current West Hollywood properties for sale here and even request a showing too:
http://heatherpaulonline.com/idx/city/west-hollywood/

Feel free to call me if you see any properties that you would like to see.
Have a wonderful day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
www.HeatherPaulOnline.com
... more
0 votes 6 answers Share Flag
Sun Jan 13, 2013
Scott Godzyk answered:
It is said that on average 1 in 10 homes nationally. Preforeclosure can be as little as 30 days late though, most bring their payments current or work something out.. Preforeclosure entails anyone in default ... more
0 votes 5 answers Share Flag
Mon Jan 14, 2013
Lt2e answered:
^ Ah Sorry...will clarify the question : So, if the property is still tenant occupied and it's 5 days prior to close of escrow... does that mean in California, the seller is in breach of contract and buyer can still cancel and get deposit money back.... ... more
0 votes 14 answers Share Flag
Sat Jan 12, 2013
Ric Mills answered:
The actual numbers aren't out yet but I expect them to be down from last year and about even with Nov. 2012. They only record the number of notices going out and not the number that actually get foreclosed on. The number of notices will probably be around 500 but the number of actual foreclosures will be small as a lot of the foreclosures have been moved to short sales. Hope this helps. ... more
0 votes 3 answers Share Flag
Wed Jan 9, 2013
Carla and Jo Hunter answered:
Because of the real estate climate in the last few years there are many agents who would be able to assist you. I personally have designations and experience with foreclosure and short sale properties. Please let me know if you'd like some information about the processes and I will be happy to assist you. You can reach me at carla@carlahunter.com , Tri-Valley-Homes.com ... more
0 votes 6 answers Share Flag
Mon Dec 8, 2014
Tommy Lee answered:
Daniella,
The home is in a Hold Do Not Show status. What this means is the seller did list the property but for some reason not explained on the listing status they have put the listing on hold.

It could be the bank has offered them a trial loan modification or it could be someone in the house has had a serious health problem. There are many reasons a seller might choose to put a listing on hold. This could be a temporary hold or it could be until the listing expires.

The MLS that real estate agents use has several categories for the status of a house. Other websites such as Trulia or Redfin might not have a Hold Do Not Show status. So, one website might say that this category is Not Available whereas another would say it is still active.

I hope that explanation helps.

Please call or send an email if you need help with any of your real estate needs.

Tommy Lee
DRE #01723594 SFC (Short Sale & Foreclosure Certified)
Premier Service® Professional
tommy.lee@dilbeck.com
323-821-2292
говорю порусскии
... more
0 votes 9 answers Share Flag
Wed Jan 9, 2013
Jim Fishinger answered:
If you have a lease you are protected and can stay out your lease term regardless of who the owner is. You will need to pay rent to the bank if they acquire the property. They will probably offer to pay you money to leave, to allow them to market the property sooner. They call it "cash for keys" The amount can be negotiated. ... more
0 votes 10 answers Share Flag
Wed Jun 10, 2015
Ted Kostzewski answered:
The laws have changed and the ansers are not simple ones. Heres an article to get you started.
VA Loan Articles

News, updates, and explanations to keep you informed.

VA Loan Assumption--What Veterans Need to Know

by Bruce Reichstein



If you purchased a home with a VA guaranteed mortgage loan, you may find yourself in a position someday where you need to sell. Active duty military members facing permanent change of station moves, or those who simply want to upgrade to a larger home in a different area must deal with the sale of a home before their VA loan is paid in full. In some cases, a VA loan may be assumable, that is the buyer can take over the VA loan regardless of whether they are civilian or military.

At one time, all homes purchased with a VA loan were considered assumable, but since then the rules have changed. Do you know the circumstances where you are allowed to sell the home and have the seller assume the VA mortgage?

In cases where a veteran home owner is getting a divorce, the VA allows what's known as an unrestricted transfer. This is allowed in cases where the military spouse and non-military partner are co-borrowers. The VA mortgage can be assumed in cases like these, but the VA strongly urges both parties to sign a release of liability so the departing co-borrower is not held liable for any credit issues that may come as a result of default or foreclosure should the occur. In cases of unrestricted transfer, the VA must approve the transaction, not the bank.

VA home loans may also be assumed if the loan closed before March 1, 1988. In these cases, the loan assumption is unrestricted--the buyer assumes the VA loan without requiring the approval of the bank or the VA. One caveat to this, however--the veteran remains liable for any losses the VA may incur as a result of the loan assumption. It's very important to get some VA advice on how to protect yourself before agreeing to this type of sale, as the purchaser may be allowed to sell the home once more and let a third party assume the loan, with the veteran still liable for losses to the VA.

In cases where VA loans were closed after March 1, 1988, VA loan assumption is not allowed unless you obtain prior approval from the lender. This extra step may be time consuming, but there is a benefit at the end of the process--the veteran is released from liability to the VA and doesn't have to worry about the sale of the home coming back to haunt them at a later date if the purchaser defaults on the loan.

The VA warns VA mortgage holders not to proceed with a VA loan assumption in these cases without prior bank approval. Those who do could get a notice from the VA that the VA loan is "due on sale", even if all payments are on time and current.
... more
0 votes 5 answers Share Flag
Sun May 17, 2015
Erika asked:
What exactly does this mean? Is the bank removing the foreclosure only to start again?
0 votes 1 answer Share Flag
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