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Foreclosure in California : Real Estate Advice

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Activity 3,320
Sun May 17, 2015
Michael Culton answered:
There are several tracts in San Jacinto with Mello Roos taxes. If Parkside Village is in Rancho San Jacinto it will have Mello Roos however the time period for the Mello Roos was 20 years and that time period is up very soon. Be sure by going on line and looking up the Mello Roos districts through the County tax collector. ... more
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Sun May 17, 2015
Jory Blake answered:
Hello , at one point during escrow you must have signed the disclosure regarding the taxes on your purchase. Contact your buyers agent and ask them to supply the signed NHD report. You can also call the escrow company that handled the sale.
When establishing your loan , the lender most likely also figured this into your total payment.



Jory Blake
... more
0 votes 5 answers Share Flag
Mon Dec 17, 2012
Laura Coffey answered:
Foreclosures that are listed by agents do go in MLS. When a house is first foreclosed on it will usually go to auction first. If no one buys it then it will go into the MLS by a REO agent. ... more
0 votes 6 answers Share Flag
Sun May 17, 2015
Jim Olive answered:
They can certainly come after you, but the question is will their claim hold up in court. For that, I would consult a legal professional, not a bunch of real estate agents. Best of luck... ... more
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Sun Dec 16, 2012
Alvena Maryam Safar answered:
Hi there... This link is not for one specific property. It is just showing that there is a home on Wilmington Way that is scheduled for foreclosure auction. I believe it is referring to 3901 Wilmington way... It is scheduled to foreclose soon. It is 1725 Square feet, 3 bedrooms 3 bathrooms built in 1990. After it forecloses and if it reverts back to the bank then it might come on the market somewhere between $140,000 to $160,000 depending on the condition. Hope this helps! Let me know if you'd like to discuss this further or look for something else.

Thanks


Alvena Maryam Safar | Broker | CalPrime Realty
Office (209) 622-0769 | Mobile (209) 612-8109| eFax (866) 458-0798|
3507 Tully Rd. Unit # 60 Modesto, CA 95356 | DRE# 01509140
Alvena@CalPrimeRealty.com | www.CalPrimeRealty.com
/CalPrimeRealty
... more
0 votes 3 answers Share Flag
Sat Dec 15, 2012
Bruce Slaton answered:
Well you may be late to party a bit as the field for REO has right sized. Many of the REO servicers are pulling back their network to work the assets they have so many are not actively adding agents.

That being said, 1st I would see if there is an NRBA member close to you that might be able to mentor you or create a partnership, the database of NRBA Brokers is located at www.NRBA.com. Training wise, Five Star has some great training as well as AREAA and NAHREP is in your area.

Joining AREAA and NAHREP is a good start as well, the govt and banks have a focus on diversity and supporting and being a member of some of these groups are on the sign up forms in most cases.

REO has moved from the banks in lots of cases to Hedge Funds, these hedge funds require you sometimes to do lots of work free in hopes they acquire the pools of loans and assets they are bidding on, know their processes and procedures. Have an REO management system, my recommendation is RIO Genesis. Be well versed in BPOs as the coming market will require lots of valuations for the assets the Hedge Funds acquired. Check into BPO Assistant which is an add on for RIO Genesis.

Now the caution, the market is moving in most areas from REO to short sales, depending on your area, being well versed in short sales can be the success you are looking for. Also most Hedge Funds will want you to handle a wide variety of assets ie property management, sales, loss mitigation/short sales, so try not to limit your ability to service their assets without them going to someone else who will.

Last but not least, be very careful of the "pay for our system and we'll get you into REO", many of the companies they say they can get you into no longer service the clients they say they do. This is the time people are making money off of innocent agents thinking they can get into REO, most of it is a bluff and not worth the money.

As a Broker, know your insurance needs which is usually 1M for E&O and 2M for Liability depending on the company.

Also subscribe to HousingWire.com and DSNews.com for keeping up to date in the loss mitigation fields, they are reputable news feeds.

Best of luck

Bruce Slaton
Realty World eCurb REALTORS
Sacramento, CA
... more
0 votes 1 answer Share Flag
Sat Dec 15, 2012
Suzanne MacDowell answered:
Your local multiple listing service is really the only way. The MLS will only have homes that are actually listed for sale by the bank or the homeowner. Other sites are publishing a list of homes for which legal papers have been filed to start the foreclosure process, but they are not available for purchase until the owner lists them with a realtor and they are put on the MLS. Likewise banks will not talk to anyone or sell a home until it is listed with a realtor and put on the MLS. So, MLS is really your only reliable resource. ... more
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Sat Dec 15, 2012
Laura Coffey answered:
If you are not on the loan or title you should have nothing to worry about.
0 votes 8 answers Share Flag
Thu Mar 21, 2013
Robin Smith answered:
What service do you offer?
0 votes 4 answers Share Flag
Tue Dec 11, 2012
Tina Lam answered:
It very well could be. Trulia sometimes pulls outdated info from outside data sources. If this is your property and this really bothers you, the you can contact Trulia to have it corrected. ... more
0 votes 7 answers Share Flag
Sat Dec 8, 2012
desertfox47 asked:
Are you able to say, place a single wide mobile home.? Air stream trailer?

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This question was asked from this property: http://www.trulia.com/foreclosure/3093690374--Sand-Jewel-Ave-...
0 votes 0 Answers Share Flag
Thu Dec 13, 2012
Linda Baker answered:
Hi Angie,
Believe it or not, right now is a great time to sell!!
Even though December is historically slower, there are still many active buyers and multiple offers are still the rule of the day!
If your house is ready to role, take advantage of the low inventory and go now!!
If you need help, just let me know.
Cheers,
Linda Baker, Alain Pinel Realtors
408.712.3432
... more
0 votes 19 answers Share Flag
Thu Dec 6, 2012
Lynn Bowen answered:
You are not alone and you are wise to ask for advice. An attorney can give you legal advice, a CPA or Tax Professional can give you Tax advice, and a Realtor with experience managing short sale transactions in the past can give you the rest.

I am happy to discuss your situation with you. I have successfully managed and closed several short sales and am happy to help you wade thru what is available to you and to work with your bank(s).

Feel free to contact me for a no strings attached consultation and you can then decide what you would like to do.

I also have clients looking for something to relocate to in the Penngrove area. Maybe your place is what they are looking for and we could put together a win win situation for all.


Lynn Bowen
Broker Associate
Artisan Sotheby's International Realty
Sebastopl CA
707-695-3814 lynn.bowen@sothebysrealty.com
... more
0 votes 3 answers Share Flag
Wed Dec 5, 2012
Mahesh Patel answered:
absolutely... not all foreclosures are fixers or bad apples!
good luck
0 votes 7 answers Share Flag
Wed Dec 5, 2012
Jeremy Lehman answered:
Do you mean move-in condition foreclosures? Many foreclosures have been refreshed by the bank or corporation with new carpet and paint. Especially HUD homes, available at www.homepath.com or from your agent. The downside is with such low inventory, these homes sell very quickly, usually just a few days. ... more
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Tue Dec 4, 2012
Rohaj Puri asked:
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This question was asked from this property: http://www.trulia.com/property/3102703007--Chelsea-Hercules-CA-94547?ecampaign=con_day_propertysearchforsale_bk&eurl=www.trulia.com/pr...
0 votes 1 answer Share Flag
Tue Jan 1, 2013
Sergio Rojas answered:
It all depends, the best thing to do will be to contact an experienced real estate agent or an attorney. You could buy extra time doing different actions, but it will depend on what is YOUR SITUATION at this moment.
You could also try to do a short sale and you might be able to not only stay at your house while this process is being done, but you could also be able to get some money for relocation assistance.

The most important is that you would need to hire somebody with experience in this field to assist you.

I would be happy to help you!

Sergio Rojas
Nationwide Realty
909-475-7580
Trulia@SergioRojasTeam.com
... more
0 votes 5 answers Share Flag
Fri Nov 30, 2012
Jory Blake answered:
Sorry to hear...There are a couple ways....(1) Provide your property address to a Realtor and ask them to check ,or (2) Call the trustee department noted on your Notice to Sale posting,or documents received...you will need the sale # .

Jory Blake
951.742.3751
... more
0 votes 4 answers Share Flag
Tue Nov 27, 2012
Andrew Watkins answered:
Do you have a lease? If not, then make one up ASAP. If its 1-year or longer, you can stay for the full term of the lease. If its month-to-month, then you get 90days minimum. Bank doesnt care about "win-win" situations. They will steam roll you and evict you unless you have a lease. ... more
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