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Foreclosure in Brentwood : Real Estate Advice

  • All137
  • Local Info14
  • Home Buying61
  • Home Selling5
  • Market Conditions3

Activity 16
Wed Oct 31, 2012
John D Fink answered:
A good source of information regarding HOA's in Brentwood can be gotten from a local title company or you can call the City of Brentwood's Community Development Department and they have a list. ... more
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Tue May 15, 2012
Walter 'Skip' Kersten answered:
Hi Dan,
First let me say that a short sale is not a 'right' and your lender will need to agree to do it. With regards to property taxes, they will need to be settled in the transaction so the buyer gets title free and clear. In addtion to property taxes you will receive a 1099 for the amount of forgiven debt. You may or may not owe income taxes on this amount. Finally when the rental property is disposed of there will be a gain or loss on the sale. You should get professional tax advice on what your tax liability will be before deciding how to proceed.
Good luck,
... more
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Sat Nov 19, 2011
Terri Vellios answered:
Hi Joanna,

This is good advice. Perhaps a blog post with links to inform the general public of where to research the license, and what is required of Real Estate Sales Persons and Real Estate Brokers, including Mortgage Companies when advertising. ... more
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Thu Jan 6, 2011
Dave Shepard answered:
Yes there a few of them right now. There are also some short sales. If you send me your requirements as far as price, bedrooms and baths, I will send you a list.
0 votes 6 answers Share Flag
Fri Feb 10, 2012
Kathy Weber answered:
You should definitely discuss your situation with a Real Estate attorney.

There's probably alot more information that would be needed to find out exactly what happened during the process.

Good luck and make sure you make an appoinment with an attorney soon!
... more
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Sat Feb 6, 2010
Don Tepper answered:
Yes you do.

Why wouldn't you?

Since you're on a month-to-month lease, you should consider giving notice and finding a new place to live. However, so long as you're living there, under the provisions of the lease, you owe rent. ... more
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Wed Aug 5, 2009
Leila asked:
We offer cleaning services for:Commercial Apartment Complexes Residential Custom, including: Move in/out Foreclosures Special Events Occasional clea...
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Sat Aug 1, 2009
Gene Riemenschneider answered:
There are different answers to how the lender will react and what they will required depending on the lender. No all require you to sign a note. However, you should make sure they are not eligible for a deficiency judgment any way. Many people being foreclosed on may get hit with a deficiency judgment based on their loan type.

The damage to your credit with the Short Sale should not be as bad, and you may be able to buy again in two years instead of three.

Let me know who your lender is and I will see what I can find out. You can get some info at ShortYourHome.com
... more
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Sat Jul 25, 2009
John Anthony Alcantar answered:
Rolf,
I've closed dozens of short sales in the past 36 months, and have only seen promissary notes issued from lenders when the seller was an investor, never someone selling their primary residence. If you need help negotiating a short sale, we've done enough business with most major banks that we would be happy to point you in the right direction.
John Anthony
Team Leader, 24/7 Real Estate
... more
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Thu Apr 9, 2009
Johnny Huang, MBA answered:
Are you looking for recently sold prices or foreclosures? In our MLS that we subscribe to, we can see homes that come into the market the first day it's listed. If you want to see if a short sale to REO listing, then there isn't a database for that. The short sale agent will most likely NOT be the REO agent and the listing will be changed.

Let me know if you have other questions.
... more
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Fri Nov 28, 2008
Catherine Myers answered:
You really need to see your attorney as soon as possible. Has the property foreclosed yet? Your attorney will need to know the dynamics of your loan i.e. was it the purchase money loan, a HELOC, a refi? Did the second lender foreclose or was it the first?

Short answer, and I'm not an attorney or a CPA, if your first forecloses, and your second is a heloc or some other cash out refi type loan , then yes... they can likely come after you for the deficiency balance.
... more
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Mon Nov 17, 2008
Bill Eckler answered:
Rachel,

Our recommendation is to be in touch with a local attorner to get their insight on the best course of action.

Best wishes
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Wed Oct 15, 2008
Maria Morton answered:
If you have a complaint about a realtor , the first step is to talk to their broker.
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Sat Sep 13, 2008
Diane Wheatley answered:
A short sale is a home that has not gone to foreclosure sale yet and the listing agent and seller are working with the lender on reducing the payoff necessary to satisfy the loan or deed of trust recorded against the property. This can be a time consuming process and many times buyers are not willing to wait or they have found another home that suits their needs better in the meanwhile.

An REO (real estate owned) is a home that is owned by a bank or lending institution. This is a home that has already went to foreclosure sale and is now managed by the bank with an agent of their choosing to sell the property. These properties are typically priced very well because the homes are not inspected by the banks (usually) and sold in the current as-is condition with no warranties. What you see is what you get and if you don't like something about the home there are buyers in line behind you ready to present their offer.

You still need to be patient during the escrow period because the banks have their own tier of approvals that need to reviewed before it is finally ready for escrow to close and title to transfer but it averages anywhere between 45-60 days. Sometimes though you may be surprised and find a home that for whatever reason needs to close ASAP!

Bottom line is that both scenarios can be very good opportunities for buyers who are cognizant of the whole process, willing to wait and won't become distressed to the point of cancelling as they see their future dream home continue its demise in appearance and luster due to neglect and lack of maintenance. It really is worth the wait. Hope that helps a little and good luck to you.

Diane Wheatley, Broker
(909) 981-5589
... more
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Mon Dec 22, 2008
Jerry Flynn answered:
If you want a list of Foreclosures, just send me your email address, and I'll send you a List of current Foreclosures from the M.L.S.. Just tell me what area you are looking for foreclosures in.

Have a Great Day.
... more
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Tue Oct 12, 2010
Jim Walker answered:
Current Real estate market conditions are labeled as a "buyers market" because most of the negotiating and shopping power is in the hands of qualified buyers today... and for the near future... You can be fussy, it is okay, you can request seller concessions, you can get a really low price (compared to 2006 or 2005 or even 2004. It is a pretty good time to shop for a house. Especially if you plan to hold it for a few years. Prices will rebound, maybe not this year or next, but the down cycles rarely exceed 4 years. The biggest drop in Real Estate values in California has already occurrred. Just make sure that the seller of the home you buy has realized that when you make your offer. ... more
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