Inland Empire CA Home Foreclosures

By
Services for Real Estate Pros with Joan Bergstrom Mobile Notary

I am hearing over and over again from friends/business colleagues/students at my notary classes/etc that they personally know friends that are living in homes for 1-2 years without making a house payment and no one has been evicted.

I don't think these are "Urban Legend Stories" because too many people actually know someone who is living in such a home situation. For instance my financial advisor said 6 of his clients in Riverside are doing this.

What is the the reason(s) the lender hasn't foreclosed and taken over these properties?

I am wondering if the lender can keep the home on it's books as not showing a loss or are they trying to "prop up" home prices in the Inland Empire.

We should have ton more homes available in the Inland Empire than we do.

  I do a lot of mobile  notary work for tenants in apartment buildings and most apartment complexes have a sign up front that offers $200-$500 for a moved in tenant referral.

There are very few homes for sale but apartment owners have to offer a "bounty to get a tenant."

Doesn't make sense to me!

 

http.//www.joanberstromnotarypublic.com

Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Joan - Thank you for sharing an informative and helpful blog.

John

Apr 12, 2010 05:16 PM
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

This is a very unusual recession.  Stock market is taking off again.  Small businesses cannot get loans and the private sector has high unemployment.

Apr 12, 2010 05:55 PM