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Foreclosure in Riverside County : Real Estate Advice

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  • Local Info6
  • Home Buying81
  • Home Selling14
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Activity 244
Wed Jan 14, 2015
John Juarez answered:
If you are asking whether or not we think that an adverse report should appear on your credit report, I have a question for you. What difference will our opinion make? You have been sailing some pretty turbulent seas and I don’t think that an uninformed opinion based on the information that you provided is going to be of much value to you. ... more
0 votes 10 answers Share Flag
Sat Jul 18, 2015
Jory Blake answered:
In California, the 1st lien-holder may/ may not accept a "deed-in-lieu of foreclosure" then liquidate the property. Ina purchase money scenario,The 2nd lien holder (Junior or subordinate lien) would lose all rights to collect as their interest was secured by the property itself.
In a HELOC or cash out, the bank may or may not pursue collection or deficiency but it would be considered a recourse loan.

Listen, the banks prefer you short sale as they lose less and can turn the property around faster. It is also the responsible thing to do and we are 95% successful in getting total debt forgiveness with 1st's and 2nd's. There are many proficient Realtors here ( Including me) who would take control for you and short sale the property. We also handle all discussions with the banks and rarely are you asked to even speak with them again.

The best part...There is no charge for my services, the bank pays all fees in the short sale.


I can handle it all for you,please contact me if interested.

Jory Blake
Short Sale Specialists
951.742.3751
... more
0 votes 6 answers Share Flag
Wed Nov 30, 2016
Jory Blake answered:
Ok, quick question for your lender....Did you verify the recording date of the foreclosure before telling me I could obtain a loan?

It is easy to print out a pre-approval letter and get everyone scurrying about showing homes and writing offers.

I have encountered something similar with a great buyer and discovered that if the lender would have taken the time ENSURE the client was "good to go" , it would have saved them significant money and avoided a great deal of stress and disappointment.

Please post your answer so other buyers can avoid this ...

Jory Blake
951.742.3751
... more
0 votes 25 answers Share Flag
Sat Apr 30, 2016
Tim Moore answered:
Sun Mar 24, 2013
Greg Herman answered:
I have a chart that gives you all of your time frames for each scenario and it covers all types of loans. Please contact me and I'll be glad to email it to you. It is very comprehensive and should answer all of your questions.

Greg Herman
gherman@spfcnet.com
951-265-1607
... more
0 votes 4 answers Share Flag
Wed Jun 4, 2014
Artbysuni asked:
how old is the unit, retro foundation?

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This question was asked from this property: http://www.trulia.com/foreclosure/3095669820--Pawnee-Cir-Cherry-Valley-CA-92223
0 votes 1 answer Share Flag
Tue Feb 26, 2013
Carol Reed answered:
Hi Emomark,

Standard sales are owned by individuals. Standard sales can also be owned by corporations that flip properties, the transaction would be the same as one owned by an individual.
REO's are bank owned. Short Sales are owned by the individual also, however, they are close to a possible foreclosure, you first deal with the homeowner who accepts the offer then basically the bank takes over from there, with some minimal participation from the homeowner.

I hope this helped clear things up. Should you need any assistance in locating a property, feel free to contact me.

Carol Reed
951-660-5786
Lic# 01999803
... more
0 votes 2 answers Share Flag
Sun Mar 24, 2013
Ashley Cooper answered:
Hi!! I can help!! Please give me a call. My number is 951-514-7854 or you can email me at ashleycooper4homes@gmail.com. I have helped numerous home buyers in your same situation. I look forward to speaking! ... more
0 votes 9 answers Share Flag
Sat Jan 10, 2015
MARCO HUAMAN answered:
Ron, please send me an email. I will provide with a contact information with a Loan Officer, that works with GRANTS and subsidies, and including with Lender Paid Closing Costs.
0 votes 4 answers Share Flag
Sun Aug 18, 2013
Shane Milne answered:
It'll only take another hit if the mortgage reports the foreclosure/deed-in-lieu... as foreclosures & deed-in-lieu of foreclosures do not appear in the "public records" section of a credit report. However once a mortgage is included in bankruptcy I normally do not see any further activity on them afterwards, so I would say it's unlikely you'll see further damage to your credit score, but it's a possibility they will report it.

When it comes to qualifying for a mortgage, lenders will start the foreclosure/deed-in-lieu seasoning period from when that event actually happened, and not the bankruptcy discharge date.

Shane Milne | Lending in all 50 states | NMLS #81195
... more
0 votes 15 answers Share Flag
Sun May 17, 2015
John Juarez answered:
You should pay rent as always. An upcoming sale – or a foreclosure – does not extinguish your obligation to pay rent. Do you have a lease? If so, you may have some protection as far as eviction is concerned. If you are on a month-to-month rental agreement you will probably be forced to move. If your landlord is giving you a rental reduction to induce you in to cooperate in the showing of the house, it is up to you to decide if that is worth your while.

Check with the local housing authority or housing advocate organization to clarify your rights. Many attorneys offer a free consultation.
... more
0 votes 4 answers Share Flag
Sun May 17, 2015
John Juarez answered:
Hello, Pamela,

Are you asking that question because you have received a legal notice from your lender which contains that wording? Have you received a Notice of Default? If so, that would tell me that you are at least three months delinquent in your mortgage. The Notice of Default (NOD) states that the lender has the right to foreclose on your house. They can foreclose in about 3-4 months from the date of the NOD.

So…what are you doing to prevent a foreclosure from taking place? Are you working with your lender on a loan modification? Are you planning to attempt a short sale? Have you consulted an experienced local Realtor – one who has extensive experience with foreclosure avoidance? If not, I recommend that you do so.

If you cannot bring you loan current; if you cannot get your lender to agree to a loan modification or some other type of forbearance plan it is likely that you are going to lose your house. A short sale may be the best way for you to control your destiny – at least to the extent that you can do so.

Do not wait! As time goes buy and the date of a possible foreclosure comes closer your ability to prevent foreclose will become less and less.
... more
0 votes 9 answers Share Flag
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
0 votes 2 answers Share Flag
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
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
0 votes 4 answers Share Flag
Mon Apr 25, 2016
Lon Mapes answered:
That is a question for a real estate attorney. My personal professional opinion would that it would not cause a major issue. But again, I'm not an attorney so would need to defer to the experts on real estate law. ... more
0 votes 6 answers Share Flag
Thu Apr 28, 2016
Don Tepper answered:
0 votes 2 answers Share Flag
Tue Jan 15, 2013
Ray Wright answered:
Cash-for-keys (relocation assistance) is completed typically to get you to move out within a short period of time and leave the home free and clear of any trash or debris. There are certain other stipulations in the Move-Out Agreement and each one has a different amount and similar terms. There are also relocation assistance programs for foreclosures and short sales as well, however each bank is different and it all depends upon the individual servicer/investor involved as well.

Before doing a Deed-in-Lieu, your best option is to get with a Pre-foreclosure Specialist and conduct a Short Sale. It's also the right thing to do. But you better hurry, it sound to me like you don't have much time. Feel free to contact me if you'd like to discuss your options more in detail.

Good luck!

Ray Wright
Realtor/PSC/SSIC
Keller Williams Realty
951-354-1303
Email: RayWright@kw.com
... more
0 votes 3 answers Share Flag
Sun Sep 30, 2012
Gregory Cook answered:
If you did not reaffirm your debts then the lender would have petitioned to have the loans taken out of the bankruptcy proceedings (because they're secured debt) and then started foreclosure proceedings.
You should consult with your bankruptcy attorney to get your actual status.
Lenders will use the latest date when determining your waiting period. So assuming your home will show as a foreclosure it will be three years from the date of sale.
Good Luck!
... more
0 votes 6 answers Share Flag
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