A lot of my investor clients are stepping up the Courthouse Steps and starting to bid at the Auctions. Without an Agency Agreement I can't advise them on their actions or help them through the Auction purchase process but I do let them know that they are competing against very seasoned investors who are well versed in the pitfalls.

I recently received a short video from Shawn Harris at Stewart Title which gives an overview of some of the Title disasters that can go with a Foreclosure Auction.

go to www.youtube.com/shawnharristitle to find her "Risk to Investors on Courthouse Steps" video

I highly recommend you check out this 7 minute video if you want to know more about Liens, Title Insurance, Property Taxes. HOA issues, and Title Binders for a property that you buy on the Courthouse Steps.

She has several other Title related videos that may be helpful. Information overload is driving me crazy so I only pass on the very best and pertinent items I find. Hope you get something out of this one.

REO cleanup

I frequently am asked my opinion about when the REO mess will sort itself out. Being full of opinions I often give too much information - way more than the person wants or can absorb. Based on recent internet and news info it seems like we are in this for the long haul but for now I think I'll just stick to a more vague opinion "The REO mess will last quite a while" The optimistic me looks forward to Banks and the Government settling on one mode of resolution and then funding, staffing and setting procedures to achieve this. The pessimistic me knows that this is not a one solution problem and that we'll be working through this for years to come.

Debt Collectors and the REO mess

Many of my clients are feeling the pressure of delinquent mortgage payments. One client attempted a Short Sale, a Loan Mod and a Deed in Lieu. All three were denied so they threw up their hands and said "Foreclose" That was more than 3 weeks ago and yet the collection callers keep hounding them. The wife just called, crying, because the Debt Collector today "just wanted to update the file" for them. These are people who had not moved or changed their phone numbers for over 10 years. Frustration mounted when, instead of promptly answering her questions, the Debt Man kept saying "my system is slow" and turning it back to asking for her cell phone number. She hung up, in tears, and called me for help. In the moment, all I could do was listen. But later today I'll be going over to help them put something in writing to try and stop the calls.
I wonder what the long term mental health fallout of this is going to be. Sure, there are people "working" the system, but there are millions who have fallen on hard times and are nearing their breaking point. I do my best to treat them kindly and help them.

Welcome to my Blog

Thanks for visiting. I will be blogging on all things Real Estate with a focus on San Diego County. I am a REO Listing Agent for one of the big banks but I also help investors and Homeowners find the property that best suits their needs.

I recently earned the SFR designation from the National Association of Realtors and am looking forward to helping Short Sellers jump through all the hoops that a Short Sale presents.

Watch my blog for opinions (I have hundreds!), information, updates and the occasional rant about Real Estate, San Diego Real Estate and distressed properties.