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City of Industry : Real Estate Advice

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Activity 2
Fri Nov 5, 2010
John Barry answered:
Hi Bb,

Sorry to hear about your situation & the foreclosure of your parents home. It is distressing to hear of practices like that - but I do not understand how a Realtor can force someone to buy a home, and what grounds would the agent have to sue your parents simply for not wanting to buy it? It kills me to think that there are agents who act like that when there are so many honest and knowledgeable agents who would have loved to help your parents and put their best interests first - agents such as you describe give all of us a bad name. In your situation, I would definitely recommend speaking to an attorney, especially as you mention that there is more to it and complicated to explain. They would best be able to advise you if either you or your parents have grounds to sue after reviewing all of the details with you - they might be the ones that would need to initiate legal action if it was their property and you had no financial interest. Good luck with your situation & hope it is resolved in a positive way for you & your parents!

John Barry
DRE #01856079
Coldwell Banker Residential Brokerage
Cell: 323-810-7976
Email: john.barry@coldwellbanker.com
Facebook: http://www.facebook.com/RealtorJB
Twitter: @RealtorJB
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Wed Oct 13, 2010
Bob Movin-On answered:
Foreclosures are very hard and expensive to reverse.
Maybe the loan was sold to Pennie Mac they are modifying loans because they buy them at $0.17 on the dollar. find out who bought the loan.

Good Luck
Bob Patrick
Buy a home after foreclosure expert
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