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Foreclosure in Monrovia : Real Estate Advice

  • All68
  • Local Info5
  • Home Buying20
  • Home Selling3
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Activity 6
Tue Feb 21, 2012
Shel-lee Davis answered:
Based on a foreclosure service I use, this property is not currently in foreclosure. The Notice of Trustee Sale has been cancelled.

This is good for the Homeowner and the neighborhood. Dare to Dream.

Shel-lee Davis, QSC®
Certified Distressed Property Expert – CDPE®
Short Sale & Foreclosure Resource – SFR®
Certified HAFA Specialist – CHS®
SSG Pro®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
424-2HELP12 (424-243-5712)
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Mon Nov 23, 2009
Monique and Joe Carrabba answered:
Hello Shawna,

Here are your options on buying a foreclosure:

1. If you have all cash you can go the the foreclosue auction. Be careful. You can buy the property for the price offered but end up with other loans on the property and there isn't financing avaiilble.

2. Purchase a pre-foreclosure (short sale) listed on the MLS using a Realtor.

3. REO: This is a property that has been on foreclosed on and is listed for sale by the bank on the MLS.

Option 2 and 3 allow for financing and option 1 you need all cash and cannot usually get into the house before you buy it.


Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
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Tue Apr 27, 2010
Pam Woods answered:
Diane: It is best when asking about tax issues to consult your tax advisor for this information. The attached article was recently released to Realtors regarding legislation that has been passed. Good luck with your transaction. ... more
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Fri Aug 8, 2008
Monique and Joe Carrabba answered:
Hello Diane,

I think it's great that you want to continue your payments during the short sale process, however, I don't think that bank will speak to you about doing a short sale unless you are behind in your payments.


Monique Carrabba
The Reavis Group
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Sat Jun 27, 2009
Steven Porzio answered:
A short sale occurs prior to the Foreclosure and to keep the property from Foreclosing. As long as the lender is on board with the short sale, this could be a much better transaction, depending on the State that you live in. The commission is paid by the lender, and trust me, he will earn every bit of the commission because a great deal of the work to bring the Contract to the lender for approval is done by the realtor. I would suggest you only use a realtor who is experienced in short sales. ... more
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Fri Aug 8, 2008
David Krecker answered:
you are still responsible for paying taxes as long as you are the owner. Any other questions send me a email or call. I've assisted many in these type situations
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