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orange county foreclosure: Purchasing an Orange County Foreclosure - How Does a Foreclosure Work? - 02/19/10 12:30 AM
Purchasing an Orange County Foreclosure - How Does a Foreclosure Work?
 
Have you been considering purchasing a bank owned foreclosure in Orange County?  If you have, then it's important to understand how this type of purchase differes from a traditional, equity sale.
How does a bank foreclose?
REO is another name for a forelosure, and it is a result of the bank/lender taking a property back after a borrower stops making payments on the mortgage.
California allows for two types of foreclosures - judicial and non-judicial.  A juducial foreclosure requires the filing of a lawsuit.  However, most foreclosures in California are done by non-judicial foreclosure, … (4 comments)

orange county foreclosure: My First Time . . . At a Courthouse Auction Trustee Sale - 07/26/09 05:15 PM
My First Time . . . At a Courthouse Auction Trustee Sale
Have you ever been to the County Courthouse around lunch time and seen a number of people loitering out front?  I've been there; as an attorney, I often attended early afternoon sessions at the Orange County Courthouse but never gave much thought to those milling around out front just around lunchtime.
Here in Orange County, we have an incredible number of notice of defaults and trustee sales occurring.
I've been aware of the methodology; a Notice of Default is filed after the owner fails to make several mortgage payments, … (10 comments)

orange county foreclosure: Does "As Is" Mean I Can't Have an Inspection when I Buy a House? - 02/14/09 01:12 AM
If it says the home is sold "as is", does the buyer have to buy it without knowing what's really wrong with the home?
 

 
The terms "as is" is found in many listings these days, especially on REO/bank owned homes and short sales.
Many in the real estate industry may think this is pretty standard language, but I have had more than one client ask me if this means that they can't have an inspection done on the house.
Their concern is that after viewing the home one or maybe two times without professional assistance they have to … (4 comments)

orange county foreclosure: Do You Need a Short Sale for Your Orange County House? Do You Owe More than Your Home is Worth? - 01/10/09 11:00 PM
Today, many people are having financial troubles and would like to sell their home, but they owe more than it's worth.
If you are facing this situation, you probably want to know what your options are.
Can you get a loan modification?  A loan modification means that the bank modifies the terms of your loan such as interest rate, the length of the loan or the amount you owe.
Should you consider a short sale?  A short sale occurs when the bank agrees to accept less than the full amount of the loan when the house is sold.  The bank may … (2 comments)

 
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Christine Donovan Costa Mesa CA Homes Broker/Attorney 800-610-7253 DRE01267479

Costa Mesa, CA

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Donovan Blatt Team - Donovan Group Realty

Address: 2920 Newport Blvd. , Newport Beach, CA, 92663

Office Phone: (800) 610-7253

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