This is an update to the February 1, 2010 Kauai REO, Kauai Foreclosures, Kauai, Hawaii Foreclosures list. Scroll down to the February 1, 2010 list to see the complete list of Kauai REO properties: New Listings: In escrow: Price Reductions: I received a few new REO assignments this month. Once they are vacant I will post them. One is not actually a REO yet but rather a Bank instigated short sale. This saves the bank and the homeowner the expense and repercussions of a foreclosure. The only problem with this bank instigated short sale is that the owner didn’t have a clue. He has been in the process of a loan modification. It’s a good idea but all parties have to agree. All available properties with MLS numbers can be plugged into my website atwww.kauaidreams.com for more info and pictures. Or feel free to call or email me atjulie@hisemail.net with any questions you might have or an appointment to see these properties. ALOHA JULIE Search all Kauai Homes at www.kauaidreams.com Search the Kauai MLS at http://www.kauaidreams.com Search Kauai Property at http://www.kauaidreams.comSearch Kauai real estate at http://www.kauaidreams.com. This is an update to the February 1, 2010 Kauai REO, Kauai Foreclosures, Kauai, Hawaii Foreclosures list. Scroll down to the February 1, 2010 list to see the complete list of Kauai REO properties:February 15, 2010 Kauai REO, Hawaii Foreclosures, Update
1. Pali Ke Kua #232, Princeville. 2 bedroom 1.5 bath condo with great ocean views. It needs some updating but has an ideal location. MLS #231959. $459,900.
#1. 4232 Malae St #b, Lihue. A newer 3 bedroom 2 bath home in Lihue $409,900 MLS#2321774
1. Waipouli Beach Resort A304, Kapaa. This is an oceanfront/beachfront newer upgraded high end 2 bedroom 3 bath condo in great condition with great views. $974,900. MLS#228473.
2. Makahuena at Poipu I203: 2 bedroom 2 bath condo with ocean views. $435,000 MLS#230166.
3. Hale Honu 2A, Princeville. 2 bedroom 1 bath condo. Freddie Mac/Fannie Mae REO . MLS#230827. $224,900.
4. Alii Kai #6102, Princeville. 2 bedroom 2 bath condo. MLS#231100 $499,900. A BoA REO. Oceanview.
Reduced to $486,900. MLS#226200.
5. 4679 Emmalani Dr, Princeville. There is 1861 sq.ft. of living area. Previous MLS listings have this as a 4 bedroom 3 bath the current listing and tax records have it as a 2 bedroom 3 bath. $597,000 MLS#227993.
6. 1139 MoanaKai Rd, Kapaa. An older home part of a 2 unit CPR across from the beach. A BoA REO $557,990 MLS#230996.
7. 4922 Laipo Rd, Kapaa. A LEGAL duplex. Two -2 bedroom 1 bath with living area & kitchen. Only $290,000. An IndyMac/One West REO.
bank instigated short sale
New term and I wonder how can they sell a home when they are not the legal owners. . . .yet
Hey Julie -
Ive been around foreclosures and short sales for some time now. Are you the listing agent on these? Or I agree with Fernando. How is it possible for them to do that? I'd be curious to hear a little bit more about bank instigated short sales. Thanks so much for taking time to respond!
Derek
Hi Fernando & Derek:
The asset management company sent me an assignment just like a REO assignment. But then I received an email that this is not an REO but a bank instigated short sale. I was asked to contact the owner. No contact info was provided but the bank assured me I would not be cold calling, that the owner was aware I would be calling So I go there and I know the tenant. She just moved there and the owner signed a lease with her and told her he was working on a loan mod. Meanwhile the telephone seminar explains the details, such as these owners have been turned down for their loan mod. I call the owner & he is shocked that I'm calling about a bank instigated short sale. He is trying to get the bank to respond to his loan mod. No one mentioned a short sale.
I do have occupancy tasks on RESNET but have not heard from the bank or borrower since. Stange.
Julie
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