Ladera Ranch Foreclosure Report - Find Ladera Ranch Foreclosures
As with many Orange County areas the volume of Bank Owned (REO) homes continues to grow in Ladera Ranch. Bank Owned inventory in Ladera Ranch as of the end of October was up over 50% from 2009. We should expect this increase to continue especially once the foreclosure moratoriums in place with many servicers are removed and new filings (Preforeclosure = Notice of Default) and trustee sale dates (Scheduled For Sale = Notice of Sale) resume.
Cash or Financing A home which was foreclosed upon, not purchased by a 3rd party at the trustee sale and is now owned by the bank. It is important to note that it may or may not be available for purchase at this time. Check with us for more details. If you will be financing a home purchase rather than paying cash then bank owned homes are what you are looking for.
Cash Only A home for which a Notice Of Trustee Sale (Often referred to as NTS, NOT or NOS) has been issued and a foreclosure sale date assigned. It is important to note that the sale date is often delayed or postponed. Interested parties are required to pay cash in certified funds at the time of sale. A home which has a pending trustee sale may or may not be actively listed and/or listed as a short sale. If it is listed then financing as usual is available to prospective purchasers however the pending trustee sale date should be closely monitored.
Cash or Financing A home for which a Notice Of Default (Often referred to as NOD) has been issued is often termed a preforeclosure. The owner has defaulted on payments and a Notice Of Default has been recorded at the county recorder's office. If, after 90 days, the owner remains in default a Notice Of Trustee Sale may be issued and recorded which allows for the trustee sale to occur 21 days following the NOTS.
Related Posts:
Ladera Ranch Market Report October 2010
Ladera Ranch Short Sale Report October 2010
Mello-Roos In Ladera Ranch
Ladera Ranch Amenities
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