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Foreclosure in Los Angeles County : Real Estate Advice

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  • Home Buying263
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Activity 634
Tue Apr 16, 2013
Pebble Singha answered:
Hello Ed,
Interesting question you have posted here. I am a bit confused by your question. More specific details are needed without assuming things here. Depends on who is the owner here? Are you thinking the actual owner or are you thinking of a Bank foreclosing ( This is a common mistake people make, so that is why I am asking). Assuming you have been making payments but your Landlord has not been making his payments. Now the Bank or a lien holder wants to foreclose and the new owner will want to someone else?

First of all, Do you have a written agreement with your current Landlord regarding the Rent to Own? Obviously there is more to this story. Here is what I recommend to you, get off of here and Contact a Real Estate Attorney immediately. Realtors cannot give you legal or Financial advice. You may have rights. Email me on what the Attorney advises you or if you need a referral for a Real Estate Attorney.

I sincerely Wish you luck.
Pebble Singha
Head Of Short Sales Department KW Encino.
soldbypebble@yahoo.com
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0 votes 7 answers Share Flag
Fri Oct 11, 2013
Heather Paul answered:
Yes, they can if they are on top of it, most of the banks will do an extension for the foreclosure REO auction date, ask your agent to push them to do this if they haven't yet. Ultimately, it is up to the bank if they want to extend the date, but 99% of them will if they have a sale that appears it is going to go through.

Have a great day,
Heather Paul, Broker Associate, Realtor
Coldwell Banker
www.HeatherPaulOnline.com
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0 votes 8 answers Share Flag
Mon Jul 1, 2013
SERGEY FEDNOV *** 424-777-9377 answered:
It's not as much about website as it is about the Realtor you working with.

You can check my website: http://www.TrustSale.com



____________________ 
Help with Any Real Estate Transaction - Buy or Sell  

Call me 424-777-9377 -  FREE CONSULTATION!  


Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777. 


Sergey Fednov 
President - Realtor® 
- Trust Sale Realty - 
Residential & Commercial Real Estate 
_______________________________ 
Toll Free: 1-855-TRUST-55 
Toll Free: 1-855-878-7855 
Phone: 424-777-9377 
Fax: 310-356-4925 http://www.TrustSale.com  http://www.TrustSaleRealty.com 
- We Hire CA Licensed Real Estate Agents - 
Lic# 01896869 
 
... more
0 votes 8 answers Share Flag
Wed Apr 3, 2013
Cole Group answered:
Preguntas
Informacion Gratis
Porfavor Comunicarse con Nosotros Directa Mente
Craig Cole
0 votes 2 answers Share Flag
Fri Mar 29, 2013
SERGEY FEDNOV *** 424-777-9377 answered:
Here's some houses for sale near by Hilgard - Westwood, holmby Hills, Bel Air area.

Click the following URL to see the Listings:
http://tinyurl.com/cz3un9o

Hope this info will help you!



____________________
Help with Any Real Estate Transaction - Buy or Sell

Call me 424-777-9377 - FREE CONSULTATION!


Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855) ext. 777.


Sergey Fednov
President - Realtor®
- Trust Sale Realty -
Residential & Commercial Real Estate
_______________________________
Toll Free: 1-855-TRUST-55
Toll Free: 1-855-878-7855
Phone: 424-777-9377
Fax: 310-356-4925 http://www.TrustSale.com http://www.TrustSaleRealty.com
- We Hire CA Licensed Real Estate Agents -
Lic# 01896869
... more
0 votes 2 answers Share Flag
Thu Mar 28, 2013
Nicolas Romo answered:
Eventually, you'll either receive a notice in the mail from the bank or a flyer from a real estate agent and/or someone will knock on your door offering foreclosure help. If you want to find out sooner, go to your local title company and ask if they can run a title profile report on your rental. In most cases, the title profile report will show if there is any foreclosure activity.

Nicolas Romo
562-373-5120
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0 votes 8 answers Share Flag
Thu Mar 28, 2013
Walter 'Skip' Kersten answered:
I assume you mean the trustee sale was postponed. The bank that owns the mortgage has instructed the trustee to postpone the sale. This is very common. Therefore, the current owner still owns the home.
Good luck,
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0 votes 4 answers Share Flag
Tue Mar 12, 2013
Jamie Tian answered:
Hi,

This property is a pre-foreclosure/notice of default. This means that the owner has defaulted on his/her loan payments and the lender has filed a public default notice. The property is not currently for sale and if it does come on the market, it will not necessarily be at that price.

Are you interested in purchasing a home in this area? I would be happy to provide you with a list of available properties for sale that fit your criteria and set up appointments for you to view any properties you are interested in. Please send me your email address with your specific search criteria (price range, location, etc).

Feel free to contact me with any questions or concerns at (310) 717-1321 or JamieTian@RodeoRE.com.

Best Regards,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
DRE #01920120
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0 votes 3 answers Share Flag
Sun Feb 24, 2013
Steven Ornellas answered:
Hi Lady Miss Morin,

There are three steps that have to take place before a property can be sold as a foreclosure. Here's a quick diagram explaining the process of actually getting to the status of an actual foreclosure and being sold to the Bank or a 3rd Party transferring via a Trustee's Deed:
http://www.foreclosureradar.com/foreclosure-guides/foreclosure-101/non-judicial-foreclosure-process

I would just caution you if the property listings are from RealtyTrac, which is a company who advertises "foreclosure listings" on Trulia. RealtyTrac's primary objective is to separate you from your $$$ in exchange for providing information most any Realtor® can provide you for FREE.

As far as having the most up to date listing information for ACTIVE listings team with a local Realtor® who can set you up with an automated search for what you can afford.

BEFORE you start seeing property, obtain a "True Pre-Approval" (your most important step in my opinion).
You MAY need to improve your credit score, increase cash reserves, etc. before buying; however, at least you will have a roadmap to eventually purchasing if this is the case. Furthermore, this step can save you from wasting money on a purchase that does not close escrow!
http://www.Steven-Anthony.com/GettingStarted
&
"Retail Banks vs. Mortgage Broker/Bankers"
http://tinyurl.com/6qln6nd

-Steve
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0 votes 3 answers Share Flag
Wed Feb 13, 2013
Thomas Jandt answered:
I have experience in foreclosures throughout California and I'd be happy to assist you with market valuations or locating cost effective investment properties that can provide the best cash on cash return, or distressed acquisitions at below market prices in certain territories.

Best regards,

Thomas Jandt
REALTOR & CEO

Hilton Thomas & Associates, Inc.
A Real Estate Investment Company
www.hiltonthomas.com
tom@hiltonthomas.com
Toll Free 866-766-1112

DRE License #01869845
... more
0 votes 2 answers Share Flag
Sun Jul 7, 2013
Sona Gallatin answered:
legal questions, best to ask an attorney as real estate agents are not allowed to give legal advise.

good luck!
0 votes 5 answers Share Flag
Thu Jun 26, 2014
Shane Milne answered:
If you are qualifying for an conforming mortgage, which most people refer to as a conventional mortgage, then you'll need to wait anywhere from 2 to 7 years depends on how much of a down payment you have. Conforming loan programs are loans made under Fannie Mae & Freddie Mac guidelines - which are a type of conventional mortgage (the most popular & common type of conventional mortgage). If you have 20% down then it's just a 2-year wait, 10% down a 4-year wait, and with less than that (as little as 3% down) it's a 7 year wait. If there are extenuating circumstances, then at the 2-year mark it's just a 10% down requirement.

See https://www.fanniemae.com/content/announcement/sel1005.pdf for the official guidelines

FHA financing has a 3-year waiting requirement, however less than 3 years (as little as 1 day) is permissible if you weren't in default on your mortgage on the time of short sale, weren't late on the mortgage or other installment debt (car loan, student loans, personal loans) for the 12 months prior to the short sale, and aren't taking advantage of declining market conditions by buying a similar or superior home in the same commuting area. Exceptions to being in default can be made (but rarely are) if there are extenuating circumstances surrounding the short sale. FHA financing can be done with just 3.5% down, no matter if someone has ever had a short sale or not.

Shane Milne | Lending in all 50 states | NMLS #81195
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0 votes 7 answers Share Flag
Fri Jan 25, 2013
Heather Paul answered:
Feel free to call me or email me directly. I assist buyers with buying properties at Auction.

I look forward to speaking with you soon!

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
www.HeatherPaulOnline.com
... more
0 votes 2 answers Share Flag
Tue Jan 15, 2013
Douglas Lagos answered:
If the condo owner had unpaid HOA fees, and were foreclosed on the home, the HOA can pursue a deficiency judgement through a collector.

Please contact a real estate attorney for more information regarding your specific case.

Douglas Lagos
Realtor®, Certified HAFA Specialist (CHS)
DRE# 01921046
Coldwell Banker Residential
Tel. (310) 463-8088 http://www.douglaslagos.com
... more
0 votes 10 answers Share Flag
Mon Jan 14, 2013
SERGEY FEDNOV *** 424-777-9377 answered:
This property is a foreclosure and exact address not available on public websites such as trulia because it is not for sale at this time.

I have address for this property - please feel free to contact me if you need this info.



____________________ 
Help with Any Real Estate Transaction - Buy or Sell  

Call me 424-777-9377 -  FREE CONSULTATION!  


Should you have any questions - please feel free to call me Toll Free: 1-855-TRUST-55 (1-855-878-7855)  ext. 777. 


Sergey Fednov 
President - Realtor® 
- Trust Sale Realty - 
Residential & Commercial Real Estate 
_______________________________ 
Toll Free: 1-855-TRUST-55 
Toll Free: 1-855-878-7855 
Phone: 424-777-9377 
Fax: 310-356-4925 http://www.TrustSale.com  http://www.TrustSaleRealty.com 
- We Hire CA Licensed Real Estate Agents - 
Lic# 01896869 
 
... more
0 votes 1 answer Share Flag
Sun Jan 20, 2013
Pebble Singha answered:
Dear Tenant,
IN los Angeles county you as the tenant have rights. If the owner has filed for Bankruptcy, then the bank cannot foreclose on him until it is discharged or dismissed. Usually 3-6 months or longer.

The new law that passed January 1st of 2013 also stops Dual Tracking by the bank. If this homeowner is smart then he will apply for a LOan Mod and delay it by then.
Worst case scenario is 3-6 months but u have to make sure he has filed for B.K.

Also in Los Angeles county you as tenants have rights. If the home is foreclosed upon and you have a valid lease agreement, the banks cannot forceably evict you. They can offer you cash for keys or other incentives, they can also sell the home without showing it to anyone and they can evict you.

If you have any questions, Email me. Good Luck.
Pebble Singha
Head of Short Sale Department KW Encino
soldbypebble@yahoo.com
... more
0 votes 5 answers Share Flag
Mon Feb 4, 2013
Heather Paul answered:
Hi Tony, unfortunately this property is not an actual listing, the owner is now 90+ days late on their mortgage, or better known as a pre-foreclosure. This property may become an REO "foreclosed home" in the future or the owner may also bring all payments current.

You can view all current West Hollywood properties for sale here and even request a showing too:
http://heatherpaulonline.com/idx/city/west-hollywood/

Feel free to call me if you see any properties that you would like to see.
Have a wonderful day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
www.HeatherPaulOnline.com
... more
0 votes 6 answers Share Flag
Thu Jan 10, 2013
Shaukatali Kadibhai answered:
Hello Kit,
When you buy foreclosed property in auction you have to pay the FULL amount in CASH.
I have done this in Florida but may differ in other states.

So there is no down payment or monthly payments.

Please contact the court house for the procedures.
... more
0 votes 7 answers Share Flag
Mon Apr 25, 2016
Tim Moore answered:
Since these are all listed on local MLS systems, and not hidden away on obscure websites as you seem to think, any site with current listings that come from MLS feeds will be good and all will have the same listings assuming they all get it fed from the MLS systems. Trulia, Zillow, Realtor.com, and hundreds of other sites all have these as well as all listed properties in their MLS systems. Nothing beats the MLS system it is listed in, everything else is somewhat slower, more out of date and missing than the MLS system itself so finding a Realtor to send you listings will always be the best solution.

tim
... more
0 votes 2 answers Share Flag
Sat Jan 12, 2013
Sonia Mendoza answered:
if you have been pre-approved to buy a house, you qualify to buy any house.

sonia
0 votes 14 answers Share Flag
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