Foreclosures

Tehachapi Short Sales: Why Lenders Back Off When Threatened With Bankruptcy

March 21, 2011

Tehachapi CA – Bankruptcy is one of the scariest words a lender can hear. A bankruptcy filing can stall their ability to foreclose by 6 months, and sometimes as long as a year. The lenders know that most bankruptcies will cause them to lose the ability to pursue you for any losses. This means they […]

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What’s the Worst Thing a Distressed Tehachapi Homeowner Can Do?

March 21, 2011

There’s a pretty simple answer to the title question.  What is the worst thing a distressed Tehachapi homeowner can do? Nothing!  Yeah, that’s the worst thing. Then why do so many folks that are struggling with a mortgage they can no longer afford on a house that is worth less than they owe do exactly […]

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Watch Out For This Problem if You Are Buying a Foreclosure

November 30, 2010

Most folks have already figured out that a buying a Tehachapi foreclosure can be a really good deal.  No one will deny that bargains abound.   By all means find that bargain and buy it. Be aware that there might be a hitch in closing escrow on that bargain. As a result of the recent […]

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Fewer Homes Repossessed by Banks in October

November 28, 2010

The LA Times reports that 9% fewer homes nationwide were seized in October.  This is a significant drop from September.  The drop for California is a whopping 23% lower in October than in September. Many analysts are attributing the drop to the foreclosure freeze instituted by major banks.  It appears that the freeze has slowed the pace […]

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Foreclosure Filings in Tehachapi are Increasing

November 18, 2010

Every time you catch the news lately, there’s more doom and gloom regarding foreclosures.  The truth is that we are going to have to live with this situation for a while until we fight our way out from under.  For those who care about the numbers, I gathered some data on the local Tehachapi foreclosure […]

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Tehachapi (Kern County) Homeowners Concerned about Foreclosure Should Seek Help Sooner

October 24, 2010

Are you a Tehachapi or Kern County homeowner?  Have you received a Notice of Default from your lender?  If so, that means you are already 90 days behind in making your payments.  Chances are you were pretty sure that trouble was on the horizon by the second month that you were struggling to meet your obligations. […]

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Do You Have any Choice Other than Foreclosure on a Wells Fargo Loan?

October 5, 2010

Tehachapi homeowners facing foreclosure recently thought they caught a break when  several large lenders announced their plans to stop foreclosures while they sort out whether or not they have correctly issued Notices of Default.   Yesterday, Wells Fargo announced it’s plan to  go full steam ahead with foreclosures.  Wells Fargo also said that there would be no […]

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Two Lenders Have Forestalled Foreclosures

September 29, 2010

It’s nice to start this site with a positive post!  Tehachapi homeowners facing foreclosure may benefit from the fact that two of the largest lenders have decided to stop foreclosure proceedings. JP Morgan Chase announced yesterday that it will stop foreclosure proceedings pending review of loan docs for possible errors. The California Attorney General wants […]

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