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Foreclosure in San Diego : Real Estate Advice

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Activity 161
Fri Apr 23, 2010
Paul answered:
Anyone. But it takes a lot of research to make sure you're not buying something that will be more trouble than you bargained for: in terms of physical condition, tax liens, etc. I have done a fair share of it so feel free to reach out if you have further questions. Paul Montgomery, 858/229-0338 ... more
0 votes 12 answers Share Flag
Tue Apr 20, 2010
Emelia Sanchez answered:
Sonia, you are not alone a lot of homeowners are going through the same circumstances. Hopefully one of your options is cash for keys I would take that one and move on.
0 votes 4 answers Share Flag
Thu Mar 3, 2011
Nick Ruiz answered:
If said person emails you a list will you be contacting that person to consummate the deal or are you already working with an agent?
0 votes 12 answers Share Flag
Thu Aug 15, 2013
Nick Ruiz answered:

Do you have any family that could lend you the money?
If you go to my website you can chat with me and see if I can help you come up with a better plan. Ill be up for another 45 min or so.

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Mon Sep 27, 2010
Nick Ruiz answered:
Each loan is its own (not attached) but you can be sued regardless.

i would seek an attorney for further insight as Its not within my scope to say.

Good luck and congrats on your purchase.

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Mon Nov 14, 2011
Ted Canto answered:
Take a look at

It is a non-profit agency that does Loan Mods for free and many other housing related services. They are certified with HUD and many lenders know who they are. They can give you sound and non-biased advice. You are going to get a mixed bag of comments in Trulia so I would personally recommend you speak with NID who do this daily and for the welfare of the public and not the industry. ... more
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Tue Feb 23, 2010
Eric H. Wong answered:
Look at tye keys for cash notice. Call the number for the agent on it. You can negotiate with him or her for the time you have left in your rental, and how much cash you can get to leave, and not give them any problems.
Forget about your rent. This will be your new deal. They will offer you a small some of money, ask for a little more, and you will wind up somewhere in between.
The proerty has been foreclosed on. It is in the banks interest to get you to leave as peacefully as possible, so they can sell it. That is their motivation.

Good Luck.
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Thu Feb 18, 2010
Nick Ruiz answered:
Although an agent is obligated to submit any and all offers, The bank has no obligations whatsoever to respond.

If your agent has good rapport with that bank have them give the asset manager a call to see where your offer stands.

Good luck,

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Sat Feb 6, 2010
Dianne Hicks answered:
I think you need to have a chat with your agent. Short sales are NOT short and depending on the bank, they just are slower than molassass!!! That being said, your absolutely needs to stay on top of it. So I think you should try to come to a meeting of the mind

Ask your agent.. How often do you contact the bank?
Where is it in the process
Tell her you want an email once a week to hear the good, bad and the ugly. Even if it means there is no movement, you want an update. Doesn't have to be a book but to keep you informed.

And in return you need to put your patient hat on because they are NOT easy and alot or work and very frustrating for all parties involved (the agents, the sellers and the buyers)more often than not, nothing you can do to speed them up.They can be hair pulling moments and be very happy the agent is conversing with Bank and not you because it is a very time consuming process. Bank move at their own pace and can only be escalated at certain points.

Good Luck and I hope it all works out!
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Sat Feb 6, 2010
Harold Sharpe answered:
Fri Feb 26, 2010
Harold Sharpe answered:
HI Lorena,
You need to give us more info.
Is your home listed for sale?
Do you have an offer?
Is an agent already communicating with the bank?

Harold Sharpe
So Cal Homes Realty
(951) 821-8211
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0 votes 5 answers Share Flag
Mon Feb 8, 2010
Kathy Weber answered:

This is a really tough question. Even the best of the best have no idea what a lender will do. Even though they claim they do,

To have a quick response depends on the lender, Are there more than one loan on the propety? Is the Listing Agent familiar with Short Sales? Will your agent be on top of the Listing Agent throughout the process and fight for your offer?

To receive a quick response depends on what negotiator has been assigned to the file. If they're overloaded, it takes additional time.

Your agent should be in contact with the Listing Agent as much as possible to make sure this transaction is in your best interest.
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0 votes 6 answers Share Flag
Mon Jan 31, 2011
Justin Brennan -Brennan Real Estate answered:
Hello Ana. This is the no B.S. answer.
When was the notice of default filed? Have you considered a short sale? You will need to make a determination as to whether you want to short sale, continue a loan mod or allow the home to foreclose, but you can not do a loan mod and short sale at the same time. If you want any chance of the modification you need a good attorney. It does not need to cost too much. A good friend of mine is working on both my brothers home and my mothers He is good and used to work with kerry steigerwalt pacific law center.

If you want FAQ on short sales visit my website I am an Asset Manager for many of the major banks and REALTOR here in San Diego. I work with many clients in your situation. I am here for free advise anytime 619-823-2120.
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Sun Feb 27, 2011
Nick Ruiz answered:
Who are you paying rent to? Looks like your landlords were "Rent Skimming". Sorry that this has happened to you. I highly suggest you find an attorney to help you out. There are plenty available to guide you in the right direction and have a free consultation.
The bank doesn't care if your rent is current.

Good luck!

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0 votes 5 answers Share Flag
Mon Feb 4, 2013
Charita King - Short Sale Specialist answered:
Are you currently working with an agent to negotiate a short sale, if so, you can ask your agent to request an extension. If you are trying to modify, ask your attorney to postpone....or you call the bank and ask for extension. If you are not doing any negotiation, then your property will go to auction.

Charita King
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Thu Dec 31, 2009
Nikki Schultz answered:
Call a tenant's rights organization for free legal advice. Be prepared to be moved by the Sheriff in 30 days from notice. I would not attempt to talk with the new owner.
0 votes 7 answers Share Flag
Tue Dec 15, 2009
Katina Wright answered:
I believe the listing agreement is a contract regarding compensation if the realtor is the procurring cause of a sale.

Sounds like the agent wants to kick the homeowner in the nards! Loosing the house isn't enough pain??

I suspect the bank will just laugh at the request and not respond. How exactly is that supposed to go..."You've got to pay my commission for taking the house back from the homeowner at a significant loss." The bank should then reply...."You owe me money if that's the case."
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Sun Nov 29, 2009
Seth Chalnick- (619) 251-8803 answered:
Banks use listing agents who have developed relationships with them. The agent's grade has very little to do with the list or contract price. The reason these agents are able to obtain multiple offers above list price, has more to do with the artificial short supply of listings available, and the stimulated demand due to buying credits and low interest rates, than anything else. There are some good ways to turn the tables on the banks to make efficient use of your time, rather than bang your head against the wall. Feel free to drop a line if I can be of any help. ... more
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Tue Feb 23, 2010
John Villaescusa answered:
It depends on what geographical your buying in but in southern California, REO's have made the market turn into a bidding war among the buyers. Usually a home sells for about 10-30 thousands more than the listing price, buyers have to pay for termite as well as closing costs. This is just an average I've seen for most deals in my office.

John & Sarena Villaescusa
Cell- 562-818-2671
Website- www.VGroupHomes
... more
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Mon Oct 12, 2009
Steven Brant answered:
Hi Dgerge,
Once a property Auction Date is set the legal timeline for foreclosure is roughly 60 days. However your parents have options. Most foreclosing lenders are offering what is called "Cash for Keys" or "Relocation Assistance" which is money that the (at that time) "Owner of Record" will pay your parents to vacate the property in a "broom swept" condition. This can be quite a sizable amount.

I think this is the best course of action for occupants because it accomplishes two things.
1. Motivates the occupants to leave and gives them financial resources to help make that transition easier.
2. Allows the occupants to move on physically and emotionally. Going through a foreclosure stinks no matter if you are taking a significant financial blow or not. The longer an occupant stays in this emotionally toxic situation I think the more the toll takes on the psyche and ultimately their happiness and success.

If your parents would like to wait it out as long as possible, I have seen evictions take up to 8 months to perform (even though legally they could take place in as little as 60 days). So that means your parents could stay there quite possibly for months before they are forced to move. I would really only recommend this course of behavior if your parents really don't have any opportunities financially to move on, but it is still an option.

Tell your parents to stay positive. It is true that the more adversity you face and still remain positive the stronger you will become. I hate to sound cliche but life becomes what you give energy towards. If they are giving energy to moving onwards and upwards than that is what will happen. If they give energy to fighting the system or sticking it out, they will get stuck in a very negative space. best of luck
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