Foreclosure prevention legislation fails in Sacramento, fortunately

May 4th, 2011  
by IrvineRenter  in Library News

Astute Observations

Astute Observation by calpolymom
2011-05-04 08:47 AM

Based on those crappy pictures, these people don’t really want to sell.  I don’t get the picture that features the newel post; was that taken through a window in the front door?

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Astute Observation by IrvineRenter
2011-05-04 09:15 AM

Yes, those photos scream, “I don’t want to sell!!!”

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Astute Observation by brianguy
2011-05-04 08:00 PM

I was looking at a couple of properties in my area, and thought the same thing.  sometimes it’s like, hey can we have some photos of the actual home?  it’s nice that you included a dozen of the park across the street, and common areas in your development, but c’mon.  where’s my cheese?

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Astute Observation by tenmagnet
2011-05-04 09:22 AM

Corporate owned = A flipper picked it up at auction on 4/21/11

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Astute Observation by IrvineRenter
2011-05-04 10:15 AM

That hasn’t shown up in my records yet. They didn’t waste any time getting this to market. That probably explains the bad photos. They probably haven’t evicted the former owner yet.

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Astute Observation by phil
2011-05-04 03:39 PM

Do you know for how much?

We were curious about this property too.  Supposedly they have 2 offers over $1.1M but would prefer a cash offer (who wouldn’t?).  It’s as-is and they indicated the tenants would be evicted Wednesday which is when they are supposedly showing it.  How people can offer sight-unseen surprises me.

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Astute Observation by watching irvine
2011-05-04 06:38 PM

from talkirvine blog, this house was sold to third party in trustee sales on 4/21 for $946,000.

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Astute Observation by CrappyPictures
2011-05-04 09:42 AM

Crappy pictures = uncooperative tenants.

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Astute Observation by ttpcpl
2011-05-04 09:43 AM

The occupants probably want to squat as long as possible. Maybe they want cash for key since the property already sold at foreclosure.  Heard the agent said there are a lot of interest on the property and they won’t sell for less than 1.1M. The 1M price is just a bait.

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Astute Observation by irvine_home_owner
2011-05-04 11:28 AM

Agreed.

How much will this close for?

It’s funny on many of IR’s listings, the commenters like to say “I wouldn’t pay $1 for that stucco tract home”... yet many times, the listings are already pending and close near listing price.

Maybe IR should go back and look at some of his profiles and see where they eventually landed. Not a huge number of them, just the ones were people were vocal about how much the property was worth.

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Astute Observation by Sac Boomer
2011-05-04 01:36 PM

The proposed law wouldn’t have stopped forclosures, it would have truncated any disussion of modification.

Borrower:  “I’d like to have my loan modified”

Bank:    “In light of the ban on dual tracking, we’ll say no. Here’s your NOD.”

There’s no dual tracking if there is no hope of modification.

SB

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Astute Observation by Sac Boomer
2011-05-04 01:37 PM

er…“discussion”

This computer thing is hard for the elderly.

SB

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Astute Observation by SanJoseRenter
2011-05-04 03:38 PM

wow, this FB HELOCed out half a million on a one million house, squatted for 18 months, and he only gets a D?

I guess a FB has to work really hard to get an F. smile

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Astute Observation by FreedomCM
2011-05-04 04:10 PM

NTS by BofA on 4/1/11:
RECONTRUST COMPANY, N.A., as duly ap-pointed trustee
The total amount of the unpaid balance with interest thereon of the obligation secured by the property to be sold plus reasonable estimated costs, expenses and advances at the time of the initial publication of the Notice of Sale is $837,017.66.

I guess anaheim general lost their 100 large!

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Astute Observation by SanJoseRenter
2011-05-04 04:19 PM

wsj: Vallejo: Long Road Out of Bankruptcy

Vallejo was able to slash police and fire staff by 40%, but faces $9 million in legal fees.

(I wasn’t aware that Orange County filed in 1994.)

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Astute Observation by chickens coming home to rouse
2011-05-04 09:05 PM

“Under the plan, city employees will maintain their current pay and no additional jobs will be cut.”

Police and firemen still to take in $150,000-200,000 with overtime.  With less on the force, there will be more overtime $$$.  They addressed only a third of the issues.

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Astute Observation by brianguy
2011-05-06 07:35 AM

exactly….. the pensions are ALWAYS worse.  especially when they pad it right before retirement, taking turns doing extra overtime to fill in for their buddies who call out “sick”.  then there are the fringe benefits.

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Astute Observation by brianguy
2011-05-04 07:59 PM

c’mon this has got to be at least an “E”.  and I don’t mean “E ticket” ride.

p.s… don’t disturb occupants.  they’re too busy scheming, pretending they don’t know where all that cash went, and figuring out who they’ll rip off next!

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Astute Observation by newbie2008
2011-05-04 08:55 PM

•On 3/28/2008 he took out a $100,000 loan from Anaheim General Hospital.

I guess that the hospital had a side biz of leading to medicine.
Foreclosure Record
Recording Date: 03/28/2011
Document Type: Notice of Sale  

Foreclosure Record
Recording Date: 12/21/2010
Document Type: Notice of Default

Seems very fast from NOD to NOS and sale.

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