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Foreclosure in 90016 : Real Estate Advice

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  • Local Info1
  • Home Buying13
  • Home Selling3
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Activity 212
Mon Apr 8, 2013
Deborah Bremner answered:
Happy to talk at your convenience, Anthony.
Best,
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) (310) 800-2954
http://www.thebremnergroup.com
Accredited Buyer Representative|Certified Distressed Property Expert |Pre-Foreclosure Specialist Certified
I want you to know that I appreciate any referrals from friends and associates who may be in the market to buy or sell real estate. You can count on me giving them the same high-quality service I provide to all of my clients.
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0 votes 12 answers Share Flag
Fri Jun 15, 2012
Byron Lohman answered:
I see these questions on Trulia all the time. All of the sale types you mention as well as regular sales are usually represented by Real Estate agents and posted in the MLS. A good buy doesn't necessarily need to be distressed to be the "perfect home" you are seeking. Be open to seeing all types of listings and there's really no need for an agent that specializes in distressed sales. You may want to target an agent that specializes in the area/neighborhood you are looking though. You should also seek an agent that communicates with you well and understands any particular needs you may have with financing, schools, work commute or other factors.

While many distressed homes may appear by price to be the "low price" there are other factors such as deferred maintenance or other repairs that sometimes are difficult to achieve in the negotiation process on those type of sales. In pre foreclosure (short sales) the investor will rarely pay for the delinquent condo HOA dues so while the purchase price may appear low, there may be costs that you the buyer will need to pay in order to close.

I'd just suggest that you be open and try to find the best property you can within your budget.

Please let me know if I can help with any other answers. I know a number of great agents in the Los Angeles area that may be a good fit for you!

Byron Lohman, ABR, CDPE, SFR
Prudential CA Realty
DRE# 01272085
byron@byronlohman.com
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0 votes 23 answers Share Flag
Sun Jun 3, 2012
Clint Lohr answered:
Yes. How much per month do you wish to pay, and how many bedrooms and baths do you need? Are you willing to sign a year lease?
0 votes 5 answers Share Flag
Thu Jun 7, 2012
Ron Thomas answered:
If you think that Auctions are a good possibility for you,
go to some Auctions, and find out:
You don't have to bid, you can observe.

Understand that some Auctions are held by private companies, just trying to sell some real estate that they haven't been able to sell any other way.

The Trustee Auctions are not held BY the Banks, but rather by the COURT to finalize the Foreclosure process: These homes are usually sold back to the bank that held the paper because they offer/bid the amount of the outstanding loan. In other words, too much! This protects their investment. The investors that go to these auctions are looking to buy for 50 cents on the dollar, and it is not going to happen.

But you need to see for yourself.

Gold is not waiting for you to pick it up in the creek, and real estate is not just sitting there waiting for you; there are a lot of investors looking for a quick buck.
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0 votes 3 answers Share Flag
Fri Apr 6, 2012
Emily Knell answered:
That's really stupid to just let it foreclose.

You should seriously having your nephew do a short sale before just letting it go to foreclosure. Letting it go to foreclosure is not the easy way out & it can open your nephew up for future deficiency judgments against him by the bank(s) for the negative balance.

I have a lot of experience closing short sales & have a 100% success rate that I can PROVE, you can click through my profile to see recent answers here on Trulia where I talk about them.

Shoot me an email if you want to talk about this some more.I don't look back on this same Trulia thread for answers posted after mine.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
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0 votes 10 answers Share Flag
Tue Apr 3, 2012
Paris and Connor MacIvor answered:
LOL, not that this will help, but it is probably for the same Reason Aurora is still FAX only...
0 votes 6 answers Share Flag
Tue May 10, 2016
Alain Picard answered:
If a property is being foreclosed on it could take quite some time before it is listed for sale. If the current owners who are being foreclosed on decide to try to sell before the auction date and they owe more than what it is worth they would list it for sale as a short sale and try to get the lender to accept less than what they owe for the sale price. If the current owners decide to just walk away from the property and let the lender foreclose on them then the property will eventually be foreclosed on and if it doesn't sell at the auction which most don't the lender will become the legal owner and they will contact a real estate company to list it for sale for them. The time that this will take really depends on a few things such as when the auction date. ... more
0 votes 14 answers Share Flag
Tue Aug 14, 2012
Pebble Singha answered:
H Miguel,
My name is Pebble Singha and I am the Head of Short Sale division at KW Encino. I work with many buyer clients who have interest in a short sale only. It is a very complicated process for an Investor buyer but the biggest ingredient is Patience.
Call me. You may also visit my web site to know more about me.
818-919-5656.
Good Luck in your search.
www.pebblesingha.com
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0 votes 12 answers Share Flag
Tue Apr 3, 2012
Ron Thomas answered:
Either the First Lienholder will contact the Second,
or the Title Company will call them to get a "pay off" figure.
You do not have to worry about the creditors coming out of the wall:
The Liens MUST be taken care of; they MUST.
You've got enough to worry about.
You may be in for a long wait, so try to relax and don't stess out any more than you already have.

Good luck and may God bless
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0 votes 13 answers Share Flag
Mon Apr 2, 2012
Brian Byhower answered:
Wed Feb 29, 2012
Travis Noe answered:
Present an offer to the Seller if it satifies the 2nd have him call the lendor and let them know. I have stopped many this way. If it does not satisfy the 2nd try to have the seller work out a deal with the 2nd. Most of the time in a foreclosure the primary will only offer the second 1k and the second refuses it. So offer more than that but not the whole amount, they know that usualy especialy in todays market they will get nothing if it is foreclosed on because there is usualy nothing left over after the primary is satisfied.

2nd question: the primary or secondary probably paid the taxes to avoid the county selling it on the court house steps. In my area 2yrs in arrears is when the County takes action
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0 votes 11 answers Share Flag
Thu Mar 8, 2012
David Chiles answered:
I recommend submitting a request on RealtyTrac.com for an agent to contact you because those agents have experience with distressed properties, Foreclosures, and REO's and access all the information you need to make a good offer. The loan and lien history as well a general picture of the foreclosure market in the area that MLS data cannot provide. ... more
0 votes 5 answers Share Flag
Sun Feb 26, 2012
Steven Ornellas answered:
0 votes 19 answers Share Flag
Sun Feb 19, 2012
Andres Morales answered:
Sun Jan 29, 2012
Pebble Singha answered:
Hello Foreclosed on,
I believe that you reposted this question .......................
Very unfortunate to hear about the foreclosure. Hoping that you did try to do a short sale at least. Assuming that you are in Los Angeles county and the 1st lien holder BofA foreclosed , Ocwen and BofA reserves the right to come after him if they choose to for the remaining balance. Are they going to? Only the foreclosing bank can tell you that. The general consensus is that the statue of limitations is 4 years within which they can come after you.
Your mother's home is a seprate property, if you are current on it then you have nothin to worry about. In either case your fathers home being foreclosed upon has nothing to do with your Mother's home, unless when you took the loan, you took it with the same bank with a clause, that would allow them to foreclose if you defaulted on either loan. BOTTOMLINE
I would suggest u to get get a legal consultations with a Real Estate attorney and even bankruptcy attorney. Realtors cannot legaly advise you. We can only state our experiences.
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0 votes 5 answers Share Flag
Sun Jan 29, 2012
Anna M Brocco answered:
Due to privacy reasons, not sure a name will be posted on an online public forum; you can however check local public records, tax records, ask a neighbor(s), ask any agent offline.
0 votes 3 answers Share Flag
Sun Jan 22, 2012
Andrea Rolf answered:
Tremendous competition for California whereas some investors have stopped and started purchasing the non-performing mortgage notes outside California. Short Sales can be typically priced under value but the bank can still counter higher. Banks know the process and value. When clients hear about fix and flips they are not in the best areas and they are experienced in full renovations. You can invest in non profits that buy from banks and rehab with a return on your money with no hands on; depends on the amount of money you have to work with as this takes about 35% of the purchase price. ... more
0 votes 9 answers Share Flag
Wed Feb 1, 2012
Ruth and Perry Mistry answered:
If NOT then you DO NOT.

Have a good weekend.

Perry
0 votes 14 answers Share Flag
Tue Apr 3, 2012
Emily Knell answered:
The "trustee" doesn't need to provide any document to proceed with a short sale after bankruptcy.

Only the escrow office & the lien holder of the short selling bank would want to see a copy of the discharge papers from the BK attorney in order to close.

You CAN get started marketing & processing a short sale even before the BK is discharged.

EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since 1996
Main Street Realtors
... more
0 votes 2 answers Share Flag
Sun Nov 6, 2011
Robert Chomentowski answered:
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