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91706 : Real Estate Advice

  • All13
  • Local Info2
  • Home Buying6
  • Home Selling3
  • Market Conditions0

Activity 19
Fri May 24, 2013
Hank Chou answered:
Hi,

This property listing has been withdrawn. If you would like to view other properties in the area, feel free to contact me.

Hank Chou
Realtor ® | NRDS ID# 214008685
PH: 626-319-6137 | DRE# 01931710
Real Estate Heaven
HankC@rehcorp.com
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0 votes 1 answer Share Flag
Mon Jan 28, 2013
carlos parrague answered:
Is this a question?
If you are looking for property, I strongly suggest working with a qualified agent
0 votes 2 answers Share Flag
Fri Jul 13, 2012
kenlong0708 asked:
Fri Jun 15, 2012
Walter 'Skip' Kersten answered:
Tue Feb 4, 2014
Ron Thomas answered:
There are possibly four things to consider:
1.) The Foreclosure takes care of the Loan and in California, (a Non-Recourse State), the Lender cannot come after you for the DIFFERENCE. (There may be an exception to this if you refinanced and took money out: you may need to do some dilligence on this.)
2.) The IRS will not be after you for the paper profit on the difference; because of the Debt Cancellation Act of 2009. You may still own some STATE taxes, so you should ask your tax preparer.
3.) Property Taxes are still owed by you and probably will follow you.
4.) HOA fees, if any, may follow you too.

Good luck and may God bless
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0 votes 8 answers Share Flag
Thu Oct 13, 2011
Suz A answered:
Hello Ana,
I'm sorry you're having difficulty.

The hard news is you won't be eligible for another mortgage for at least three years if your home goes into foreclosure. You should try to avoid foreclosure. Have you tried to short sell your home?

You might discuss a lease with your brother with the possibility of buying later when you are able.

Best of luck,

SuZ
PML of Longmont, CO
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0 votes 12 answers Share Flag
Fri Jun 10, 2011
Melissa Krchnak answered:
If you've opened escrow with an agent, you can't change (unless you cancel the contract).
0 votes 2 answers Share Flag
Mon May 2, 2011
Christopher Lefebvre answered:
I would ask the lender this question. They should be able to tell you their policies.
0 votes 4 answers Share Flag
Sat Jun 16, 2012
John Arendsen answered:
This is about as much information that an RE pro could or should give without steering. I would recommend doing a 91706 google zip code search for more info.

91706 is a densely populated, urban zip code in Baldwin Park, California. The population is racially diverse, younger, and mostly married couples. The average house value here ($146,600) is lower than in the Los Angeles-Long Beach-Santa Ana metro area as a whole, so this could be a great place to look for housing bargains.
The median age here is 26.9. There are 38,395 men and 38,494 women. The median age for men is 26.1 while for women the median age is 27.7.
91706 Zip code is located in the Pacific time zone at 34 degrees latitude (same latitude as Hiroshima, Japan) and -118 degrees longitude. It has an average elevation of 378 feet above sea level.
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0 votes 5 answers Share Flag
Sat Nov 20, 2010
Julie Starbuck answered:
Foreign buyers can buy a property. The difficulty comes when the foreign buyer needs to obtain financing. Many lenders have stopped lending to foreign buyers. If the foreign buyer wants to pay cash it is much easier.

There are restrictions when a foreign buyer wants to sell a property and they should consult with their local real estate professional about those restrictions.
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0 votes 3 answers Share Flag
Thu Jun 20, 2013
Emily Knell answered:
Looks like you'll probably have to move if you can't afford it. The previous owner probably had little or no loan balance & was able to charge low for your rent. A new owner probably has a high loan balance & needs to cover it through rent.

If the market rate for rents in Baldwin Park CAN actually command a $1300/mo rent for a 2b 1ba unit w/ a garage, then the new owner will do everything they can to find a tenant willing to pay that amount. And, to answer your question about right & wrong. It is right, so long as the market supports that rental rate & there's a willing & able tenant ready to pay it.

EmilyKnell1@yahoo.com
562-430-3053 cell
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0 votes 7 answers Share Flag
Mon Oct 26, 2009
Jenny A. Le answered:
The loan balance of the old house is a write-off to the bank, this means the bank took a loss. The bank has the right to file a lien which states you still owed the mortgage balance. The disclosure of the bank's intention/action of the old house loan balance was disclosed to you during the forclosure process.

So refer to the foreclosed documents of the old house for the answer to your question.
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0 votes 2 answers Share Flag
Fri Nov 19, 2010
Emmanuel Scanlan answered:
Hello Melinda,

For a home to be occupied it must have all facilities to provide sanitary and safe living conditions. If you heat your water with gas then you would not be able to have sanitary conditions as hot water is not available. Additionally a gas system without a meter is unpresurrized and untested by the gas company. The gas company can not validated that the gas piping and systems connected to it are safe. So to answer your question an occupancy certificate can not be properly issued.

Having said that though the best one to answer the question is the local Authority Having Jurisdiction (AHJ) which is generally the Building and Codes department for the city the home is in. If you call the local city hall they can direct you to those offices. The local AHJ can provide a Certificate Of Occupancy (COO) under less than the conditions you described. It would depend on their rules and procedures.

Was the home inspected? Were all utilities on for the inspection?

Emmanuel J. Scanlan
PS Inspection & Property Services LLC
www.psinspection.com
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!
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0 votes 3 answers Share Flag
Tue May 19, 2009
John Barry answered:
Hi Hairess,

I looked up this property for you on the MLS, and unfortunately, it is not currently available. The only properties currently showing active on that street are 3362 Millbury (listed at $275,000.00) & 3535 Millbury (listed at $269,000.00). Hope this helps... Please email me with any questions..

Thanks, have a good night.

John Barry
Coldwell Banker Residential Brokerage
15490 Ventura Blvd.
Sherman Oaks, CA 91403
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
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0 votes 5 answers Share Flag
Thu Aug 6, 2009
Jed Lane answered:
I suggest that you review the documents with an attorney. It is possible that you will be affected but the loan contract is the key.
0 votes 2 answers Share Flag
Thu Feb 5, 2009
Myke answered:
when you're dealing with REOs - do not expect any kind of standard anything.
You may end up waiting a couple weeks for answers - you may end up waiting months for an answer.
Banks work at thier own pace, under thier own guidelines.

You really should have an agent who is experienced specifically in REO property to handle these types of things for you. It sounds like if you have an agent working for you - they either do not know, or did not bother to explain the process to you.
If you do not have an agent working for you on this - get one, asap. This is not something that even an educated and intelligent person can do easily - and honestly most agents even have a hard time doing it right.
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0 votes 7 answers Share Flag
Thu Jun 7, 2007
Jaira (Ventura County Realtor) answered:
I would not recommend this area, it has a high crime rate.

Baldwin Park Crime Report

General Information: Violent vs. Property Crime Rate:
State: CA Violent Crime Property Crime
City Population: 78,645

Murder: 5
Forcible Rape: 12
Robbery: 87
Aggravated Assault: 179
Burglary: 288
Larceny or Theft: 757
Car Theft: 628
Arson: 10

This website will show you all the information you will need to see crime stats on various areas.
http://www.cityrating.com/citycrime.asp?city=Baldwin+Park&state=CA
Hope this helps.
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0 votes 1 answer Share Flag
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