Have you seen our recent website upgrades?
You can now more easily search for distressed properties on http://www.scott-brian.com/, the leading local real estate website for The Inland Empire, including Riverside, Corona, Moreno Valley, San Bernardino and the Temecula-Murietta areas.
Simply click on the large, blinking "FORECLOSURES!!" headline on our home page, and you'll be directed to search many different areas of the Inland Empire.
Here's a primer on the foreclosure process and some terms:
Pre-foreclosure: Also known as notice of default or in foreclosure, this is the 3-month period after a lender has officially notified the homeowner that they have missed too many payments and must get current or face the auctioning of their home. A homeowner might be 3-6 months behind on payments before an NOD is filed.
Trustee's Sale: The auction on the courthouse steps is scheduled via another formal notice 21 days after the 3-month default period expires. In essence, if the owner doesn't pay the backpayments within the three months, and no other arrangements are made, the trustee's sale is scheduled in another 3 weeks.
Short Sale: When a house is being sold for less than is owed on it, this is a short sale. The shortage refers to the amount that the bank is willing to lose on their existing loans.
REO: Real Estate Owned, also known as bank-owned, corporate-owned, foreclosed home, foreclosure, etc.
Our website is among the best resources for real estate information in Southern California. Now, it's just gotten better with more easily located searches for foreclosure and short sale properties.
Labels: Corona, Foreclosure, Home Prices, Inland Empire, Loan Modification, Moreno Valley, Murrieta, Real Estate, Riverside, Short Sales, Statistics, Temecula
