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Foreclosure in 95834 : Real Estate Advice

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  • Home Buying23
  • Home Selling2
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Activity 142
Wed Aug 26, 2009
DeeDee Riley answered:
Hi Maha,

Not sure where you are taking this phrase from but I'm sure they are talking about gas, electric, water, HOA dues, yard maintenance, etc.

Hope this helps,

DeeDee Riley
0 votes 4 answers Share Flag
Wed Nov 2, 2016
Colton Hutchins answered:
You need to start with 3rd Party.

You can trust Market2Market, AssetValuation, Summit Valuations, Clear Capital.

Truth is, most Asset Manager's out source the majority of the bpo's to these 3rd parties. I typically get 30+ REO listings a month and did 1 dby last month for a non listing.

You have to start somewhere. Everyone has this perception of riches in REO. Trust me when i tell you, you will lose more upfront than you make.

... more
0 votes 3 answers Share Flag
Tue Jun 8, 2010
Sue Archer Reynolds answered:
Not sure what your question is referring to. You show as a broker in Fort Lauderdale, asking realtors in Sacramento.....

Are you asking how you can get Asset managers to hire you to represent Sacramento properties as an REO listing agent? ... more
0 votes 3 answers Share Flag
Wed Apr 29, 2009
Anna Boyd answered:
Do you mean you see it's already been foreclosed as there's been a deed transfer and how much time do you have to leave the premises?
0 votes 15 answers Share Flag
Thu Apr 23, 2009
Sue Archer Reynolds answered:
The answer is 'that depends'...

If it is a bank owned home, the listing agent can give some idea of how long that bank takes to review offers, and to respond.

If it's a short sale listing, then it depends on the ability of the listing agent in preparing the short sale package to the lender, whether it's likely that in the situation that the seller is in, would be approved as a short sale.

Your buyer's agent should be able to investigate, through the title information on the property, who the lender is that you are ultimately dealing with for either the bank owned home, or the short sale situation. Then, in speaking with the listing agent, they might be able to get some idea on the time it would take for the seller and their lender to respond.

there's no guarantees an in most cases, I don't have my buyers stop looking. It's just too 'goosy' of a market right now.
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Fri Apr 9, 2010
blaison samuel answered:

Not all second loan wipes out just like that whether you do short sale or foreclosure. But, In short sale, at least you have a chance to negotiate with the lenders for not to follow for remaining balance or some kind of re-payment plans. Consult with a CPA or attorney for any tax ramifications. If you are planning to do short sale then list with an experienced agent who successfully closed any short sale transactions or at least have certification in short sale.

Blaison Samuel
Certified Short Sale Specialist
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0 votes 6 answers Share Flag
Tue Apr 28, 2009
Sue Archer Reynolds answered:
If you contact me with the property address I can provide you with information recorded against the property. That would include any notice of default, notice of trustee sale, or date of sale at auction. All of these are recorded agaisnt the title to the property and are public record.

The foreclosure process is a standard process. A notice of default is recorded based on the nonpayment by the owner of record on their loan. When a bank may record the NOD is up to bank policy. It can be after 60 days, or sometimes it's later. Once the NOD is filed, and no payments are still made, the notice of Trustee Sale is recorded 3 months from the date of the NOD. The notice of trustee sale will specify a date, time and location that the property will be scheduled for auction. Whether the auction actually takes place on that specified date and time, is again decided by the lender. In some cases they delay this date- if they are negotiating a short sale, the owner had filed any legal proceedings such as a bankruptcy, or for another policy known only to the lender. The date is not usually canceled, just delayed to some unknown date and time, since no further notice is given to the public.

Hope that helps. Call or write if you want information on a specific property.
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0 votes 3 answers Share Flag
Tue Mar 31, 2009
Scott Olson answered:
I can email you the listing or the agent's contact information.

Appears it was foreclosed on and is pending sale as a Bank owned property.

Scott Olson
Realty Plus
0 votes 1 answer Share Flag
Thu Aug 15, 2013
Jonathan answered:
Well it depends on if you want to stay in your home or not.

Stay in your home - try a loan modification

Getting rid of it - do a short sale.

Try not to foreclose.
0 votes 18 answers Share Flag
Sun Mar 29, 2009
Terry O'Callaghan answered:
Listing agreements are a contract between a specific seller and the Broker. If ownership (seller) changes the listing agreement is no longer in place. The MLS has rules regarding status changes when a property is sold, listing period expires, etc... I would need more specifics to better answer your question. With the property address I could find out more details for you. ... more
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Mon Apr 27, 2009
Dallas Texas answered:
Your best option contact a real estate attorney who can protect all your assests. Have you contacted bank make attempts resolve any issues. Lenders are very reasonable most instance willing work with property owners. ... more
0 votes 11 answers Share Flag
Thu Jan 29, 2009
Ute Ferdig answered:
Hello Brian. This property sold as a bank owned property on 11/5/2008. The sale price was $75,000. Please let me know if you would like additional info regarding this property or similar properties that are currently on the market. ... more
0 votes 4 answers Share Flag
Mon Jan 26, 2009
Jim Walker answered:
This way the fat cat banker greed heads who caused the meltdown and read the Wall Street Journal can congratulate themselves for having brought so many families closer together.
0 votes 1 answer Share Flag
Sun Jan 4, 2009
Ute Ferdig answered:
Hello Kathy. If you provide me with the property address, I'd be happy to find out for you whether this is a foreclosure property.
0 votes 2 answers Share Flag
Tue Dec 23, 2008
Sue Archer Reynolds answered:
These questions come up frequently on a specific property and the answer from us is often to suggest you sign up on one of the realtor's client portals to get details of specific properties in the market that might meet your needs.

But I'd like to ask a question back to you, Maureen. What was your interest in the property and was there a concern or interest because it was a possible foreclosure property?

In this market, over 60 percent of properties are bank owned homes in any one area (sometimes more sometimes less). With that being said, prices of ALL homes are comparable to the bank owned homes pricing, adjusting for condition of the home, and amenities. Is there a specific interest on your part of only looking (or not looking) at foreclosed homes?

I'd appreciate understanding your perception on this. Thanks!
... more
0 votes 2 answers Share Flag
Thu May 27, 2010
Dallas Texas answered:
You sound as though you wont have much of choice work direct with lenders many are happy to work with you, they dont want a foreclosure. If not you will need to have lender authorize a short sale, which will effect your credit score. If your home is short sale or foreclosure lease a property till you can get back on your feet.
Sorry to hear all.
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0 votes 12 answers Share Flag
Sat Nov 8, 2008
Rob McQuade answered:
Having trouble, Rich? If you're asking about a specific property you saw on here, include a link and someone can probably tell you more. If you're asking that as a general question, the numeric part of a street address is the house number.

Did this answer your question?

Rob McQuade, ABR, REALTOR®
McMartin Realty | 2031 K St Ste 100 | Sacramento, CA 95811-4253

Tel (916) 444-7577 or Toll Free (866) 720-CITY (2489)
Fax (916) 444-7977

» The info you want 24/7:
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Wed Nov 5, 2008
Erin Stumpf (Attardi) answered:
This link from may answer your question. You should seek the advice of an attorney regarding your specific situation. ... more
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Wed Nov 5, 2008
Jeff and Ginny Mitchell answered:
Yes, your other properties are at risk. You should contact your county or state government consumer advisory agencies for advice. The local BAR Association in many areas is also providing guidance for homeowners in difficulty, but usually this applies to your main residence only.

Your mortgage lender may be willing to renegotiate your loan interest rates or allow you to pay interest only on one or more of the loans for a year or two to get back on your feet. They also realize that property values have changed, and they really don't want to "own" the house. After you have the advice recommended above, you will probably be contacting your mortgage lender to see if you can work out a compromise until the market improves, the rent rates improve, etc. Then you could sell one or more of your rental properties without having to use the "short sale" and even worse have the bank foreclose on the home(s).

Don't wait. Get the information you need. Good luck to you.
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0 votes 6 answers Share Flag
Wed Jan 5, 2011
Jonathan James answered:
You will get a visit by the new owner or representative letting you know it was sold or taken back by the bank. You then will get served with a notice to vacate. If decide to stick it out, you will then be served with an Unlawful Detainer Complaint. Sometimes, it can take up to 5 months to get served due to the banks overload. Once you get served, you have the right to be heard by a judge. Ussually takes about 2-3 weeks to get in front of the judge. Essentially you are just buying time but eventually you will have to leave...

But there may be an opportunity to not make mortgage payments and live rent free for a few months to regroup....It wont be long till we see special home buying programs for people who were swept off their feet in the crash. .
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