Comments on: February 2010 California Foreclosure Report http://www.foreclosuretruth.com/blog/sean/february-2010-california-foreclosure-report-2/ Sat, 04 Feb 2012 19:57:02 +0000 hourly 1 http://wordpress.org/?v=3.1 By: Creola Barte http://www.foreclosuretruth.com/blog/sean/february-2010-california-foreclosure-report-2/#comment-9325 Creola Barte Mon, 03 May 2010 06:20:05 +0000 http://www.foreclosuretruth.com/?p=1207#comment-9325 Last year looked into investing in foreclosed properties but wasn't succesful. Appreciate your thoughts on investing in them. Last year looked into investing in foreclosed properties but wasn’t succesful. Appreciate your thoughts on investing in them.

]]> By: skeptic http://www.foreclosuretruth.com/blog/sean/february-2010-california-foreclosure-report-2/#comment-7167 skeptic Fri, 19 Mar 2010 05:40:08 +0000 http://www.foreclosuretruth.com/?p=1207#comment-7167 Sean, Question. What I am starting to see are houses that were supposed to be foreclosed upon--which are being fixed up and then listed later on. Right before the listing, the house magically appears in public records as sold. Do you see this happening? Effectively, it looks like a trustee sale happens, but the bank doesn't record the deed until right before listing--which may be months after the trustee sale. Any idea why or the benefit of the delay? Tax purposes? Liability purposes? I assume that the bank is offering cash for keys to the buyer rather than going through the eviction process (whereby they would need to record the deed). Maybe my records are incorrect, but it sure looks like the day a public deed is recorded is coming months after the trustee sale (leading me to the conclusion that there are actually more bank owned homes out there than public records reveal). Sean,

Question. What I am starting to see are houses that were supposed to be foreclosed upon–which are being fixed up and then listed later on. Right before the listing, the house magically appears in public records as sold.

Do you see this happening?

Effectively, it looks like a trustee sale happens, but the bank doesn’t record the deed until right before listing–which may be months after the trustee sale. Any idea why or the benefit of the delay? Tax purposes? Liability purposes? I assume that the bank is offering cash for keys to the buyer rather than going through the eviction process (whereby they would need to record the deed). Maybe my records are incorrect, but it sure looks like the day a public deed is recorded is coming months after the trustee sale (leading me to the conclusion that there are actually more bank owned homes out there than public records reveal).

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