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I've seen a bunch of articles on owners whose properties are worth less than their mortgages, simply buying a much cheaper foreclosure "next door" and defaulting on their own property. I was wondering if they can still do this now even with the tougher loan restrictions. Perhaps these...

Just to jump on the thread, I was curious about two aspects of the auction: 1) Does the bidder need to have the full amount to bid. Let's say I want to put 20% down and get a 80% mortgage. How would I participate at an auction? 2) Where is the main auction for Irvine and South OC...

Thanks. What do you guys think of this place? http://www.redfin.com/CA/Costa-Mesa/778-Hudson-Ave-92626/home/3713883 I'm only looking for SFRs. I define unsafe as a place where there is a reasonable change your home might get burglarized.

Are there any "safe" areas in Orange County, or at least really close by Orange County, where SFRs (not condos) are below rental parity? In the lastest post by IrvineRenter entitled Apricot Crush, he states "in many other markets, the low-end condos have already fallen to cashflow...

I am planning on putting 20% down, my credit score is great, and have therefore been pre-approved for a loan from a direct lender. However, a lot people have been telling me that when it comes time to actually getting a the loan, a lot of people get denied even though they were pre-approved...

I'm considering Dana Point because it is the nothern most safe beach city I can afford. However my extended family and friends all live in Irvine area and some in LA. My work is also located in Irvine. Does anyone commute from Dana point and south to Irvine a lot? What are your...

Out of curiosity, once a property is foreclosed and the bank takes over, is the bank responsible for the HOA fees. I know those condos at Marquee Place and Scholarship have HOA fees above $1000, so I'm wondering if a condo there is bank owned then would they need to pay those fees.

I've noticed that the inventory of properties for sale in Irvine has dropped significantly since last summer. I imagine that this is due to seasonality and the various temporary foreclosure freezes going on. I was wondering if any one new when the inventory, and foreclosures in particular...

I was pre-approved for a jumbo conforming loan, but my lender said today that they are no longer locking the lower confirming rates for loans between 418K-625K because the law is set to expire at the end of the year. Therefore the 6% jumbo conforming loan I was previously approved at is now a...

Yes, the lease is 8 months. Thanks for the advice everyone.

But it's not with the Irvine Company, and even some Irvine Company rentals like Turtle Ridge don't have lease breaks. I'm not so concerned about breaking the lease or finding someone to take it over, as I am about it affecting my mortgage qualification. If I got the max qualificaiton before...

I'm not eager to buy right now, but will consider it if the right place pops up at the right price. Therefore i got a prequalified approval letter for a mortgage in case I find something. When I prequalified I was living at home. Now I want to get my own place but am worried that if I...