Foreclosure and distressed property topics

NEW -> Contingent Buyer Assistance Program
<p>That has got to be a typo....or a smart-ass answer to an unsolicited offer to list the house. REO auction?</p>
 
$1.37M? That would be a pretty good price, if it wasn't also the annual cost of the electric bill. Could you please do a follow up and let us know the final bid? I assume it's the 2nd that's been defaulted on.





You think he was renting it, or flipping it? I see his tax mailing address as Brea.
 
I think that property was listed by LeeAnn Canaday under the name "Buckingham West". I don't understand the $1.37 mil bid you are referring to. Is this property in foreclosure, and up for auction?
 
The property is in foreclosure and as long as it doesn't get postponed you can bid on it in two hours. I wonder if that loan amount is just a second lien.
 
I'm cutting it close. I will grab a quick bite and head on down there. There are a couple of other props I am curious to know the outcome of.
 
The Oroville property already has been postponed to 8/28. But there is a <a href="http://www.zillow.com/aerial/DualMapPage.htm?zpid=25426044">property in VP</a> that will probably go down. They are killing my comps! LOL.
 
<p>awgee - I don't know the loan amount on Oroville. I had that service taken away from me. </p>

<p>EvaL - Don't forget the one on Lincoln. You know which one it is by the brown lawn. </p>

<p>On my way and may the parking gods be with me.</p>
 
<p>It has been a while since I have been to the auction but the change is dramatic. There was about 15 people there with 8 being real bidders and 3 took off after they found out that the property they were going for was postponed or cancelled. Many of the sales were postponed due to BK which surprises me with the new laws. A total of 10 went through with two being sold at the minimum bid and the rest went back to the bank. What was different was the lack of people and bids. The strangest thing I noticed was the pros expressions when one that had more debt than it was worth their face said WTF were those people thinking.</p>

<p>The home on Valentine in HB sold for $655 and the NTS amount was $796k. Ouch for the bank. </p>
 
Not Irvine or OC - nationwide





Recently saw an offer on a nationwide portfolio of non-performing seconds. There were approximately 400 properties in the portfolio and distributed nationwide. $.10 on the $1.





Thoughts?
 
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