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forclosure homes in los angeles: A Tragic Journey from a Short Sale to Foreclosure. - 08/15/10 05:32 PM
I was involved in a Tragic Journey from a Short Sale to Foreclosure. I represented the buyer and another agent represented the seller. The seller had an Attorney, who had a successful track record of negotiating short sales.
The history:  We have written at least eight or ten FHA Offers, without getting any accepted.  We lost out to Conventional Loan buyers, Cash Buyers and buyers who had large down payments. Finally May 2009 we received the "good news"...." Congratulations your offer was accepted".  Then the journey began.
We continued searching, writing offers with no results. The communications between agents, principals were … (120 comments)

forclosure homes in los angeles: Did you know that 31 percent of California’s 1st Quarter Sales were Foreclosure Properties? - 07/21/10 06:43 PM
Did you know that 31 percent of California's 1st Quarter Sales were Foreclosure Properties?
Did you know that 31 percent of California's 1st Quarter Sales were Foreclosure Properties? As some of you know I wrote a post earlier, that in 2009 foreclosure sales accounted for 51 percent of all the sales. California Association of Realtors® just published this report about the First Quarter sales.
They get their information from RealtyTrac®, in this report they also disclosed that the average sales price of properties that closed from foreclosure process was 27 percent less than non distressed property sales.
This is very telling … (15 comments)

forclosure homes in los angeles: The bank forecloses on your home and then files a lawsuit against you, how is this possible? - 06/13/10 03:27 AM
The bank forecloses on your home and then files a lawsuit against you. How is this possible?  I was reading in RISMEDIA on June 8, 2010, about a home seller who has sold his home in a short sale. He sold it for approximately $200,000.00 less than the first and second mortgage he owed on the property. The Mortgage lender has agreed not to pursue further action to recoup their losses.
Evidently there are many home sellers who did not negotiate this clause into the transaction. Hence there are many lenders who file lawsuits and are going after foreclosures and short … (16 comments)