Can you hide your foreclosure?

[IrvineCitizen_IHB]

Say you're a realtor and have a couple of personal foreclosures. Is there any way to hide this? I keep seeing that only 70% of foreclosures are actually accessible. So what happened to the other 30%? I know a realtor that definitely has been foreclosed on but neither of his two foreclosed houses show up. Anywhere.

You sure can't hide your defaulted property taxes. They are there in the open for all to see. How come not your mortgage?

 

[graphrix_IHB]

I'm not exactly sure what you mean... Do you mean the RE agent has a listing that is a foreclosure? Or, and I think this is what you mean, that the RE agent's own home has been foreclosed on?

Either way, would be a public record, and anyone could find the info. Yes, there are several RE agents who have had their own home foreclosed on.

 

[IrvineCitizen_IHB]

Well you did understand my question correctly. I could throw an address out there but that would be unkind to this particular realtor. He moved into this house in 2007 at the top of the bubble, paid 1.4M+ for it, and then he moved back into our neighborhood. It's $50K in delinquent property taxes over the past two years but doesn't show up for sale anywhere or show as a foreclosure anywhere. Just wondering what could have happened to it!

 

[graphrix_IHB]

Well you did understand my question correctly. I could throw an address out there but that would be unkind to this particular realtor. He moved into this house in 2007 at the top of the bubble, paid 1.4M+ for it, and then he moved back into our neighborhood. It's $50K in delinquent property taxes over the past two years but doesn't show up for sale anywhere or show as a foreclosure anywhere. Just wondering what could have happened to it!

PM me the Realtor's name, and I will tell you what is going on. That way you don't have to post their name here.

 

[IrvineRenter_IHB]

Well you did understand my question correctly. I could throw an address out there but that would be unkind to this particular realtor. He moved into this house in 2007 at the top of the bubble, paid 1.4M+ for it, and then he moved back into our neighborhood. It's $50K in delinquent property taxes over the past two years but doesn't show up for sale anywhere or show as a foreclosure anywhere. Just wondering what could have happened to it!

It shows up somewhere. A public records search will turn up what happened.

 

[sugarspunZ_IHB]

i really dont see what is so shameful about a foreclosure. i know many reputable realtors and loan officers who were making a ton of money back in the day and who purchased homes with down payments, and who did not work the system, but unfortunately most are not making the money they were and are unfortunately facing foreclosure.

 

[IrvineCitizen_IHB]

i really dont see what is so shameful about a foreclosure. i know many reputable realtors and loan officers who were making a ton of money back in the day and who purchased homes with down payments, and who did not work the system, but unfortunately most are not making the money they were and are unfortunately facing foreclosure.

Oh I do. When you purchase three homes in three years for a total of $2.4M and then default on all three of them, don't pay any of your property taxes and skip your HOA payments for a year even though you enjoyed the high life for five years, I have a big problem with it.

I doubt many of the foreclosures are hitting reputable realtors - people that put 20% down and who actually believe that a mortgage actually DECREASES over time.

Even those people you are admiring may have dropped $50K from a HELOC into a new granite kitchen and another $50K into their backyard.

Losing your job is painful. In this economy it is downright frightening. For the few that did everything right and face foreclosure my deepest sympathy. To the rest - what comes around goes around.

 

[sugarspunZ_IHB]

i really dont see what is so shameful about a foreclosure. i know many reputable realtors and loan officers who were making a ton of money back in the day and who purchased homes with down payments, and who did not work the system, but unfortunately most are not making the money they were and are unfortunately facing foreclosure.

Oh I do. When you purchase three homes in three years for a total of $2.4M and then default on all three of them, don't pay any of your property taxes and skip your HOA payments for a year even though you enjoyed the high life for five years, I have a big problem with it.

I doubt many of the foreclosures are hitting reputable realtors - people that put 20% down and who actually believe that a mortgage actually DECREASES over time.

Even those people you are admiring may have dropped $50K from a HELOC into a new granite kitchen and another $50K into their backyard.

Losing your job is painful. In this economy it is downright frightening. For the few that did everything right and face foreclosure my deepest sympathy. To the rest - what comes around goes around.

i see your point and i do agree to an extent. i guess there are just to many variables to know in order to judge. the people and friends i am speaking of put 10 to 20% down, did not cash out to live like kings, and did not purchase ridiculous houses. they did what most would consider "right".

 

[IrvineCitizen_IHB]

i really dont see what is so shameful about a foreclosure. i know many reputable realtors and loan officers who were making a ton of money back in the day and who purchased homes with down payments, and who did not work the system, but unfortunately most are not making the money they were and are unfortunately facing foreclosure.

Oh I do. When you purchase three homes in three years for a total of $2.4M and then default on all three of them, don't pay any of your property taxes and skip your HOA payments for a year even though you enjoyed the high life for five years, I have a big problem with it.

I doubt many of the foreclosures are hitting reputable realtors - people that put 20% down and who actually believe that a mortgage actually DECREASES over time.

Even those people you are admiring may have dropped $50K from a HELOC into a new granite kitchen and another $50K into their backyard.

Losing your job is painful. In this economy it is downright frightening. For the few that did everything right and face foreclosure my deepest sympathy. To the rest - what comes around goes around.

i see your point and i do agree to an extent. i guess there are just to many variables to know in order to judge. the people and friends i am speaking of put 10 to 20% down, did not cash out to live like kings, and did not purchase ridiculous houses. they did what most would consider "right".

I see your point as well. I guess it all depends on what your personal perspective is. I haven't seen a single case such as you described above, yet you have seen several. Every single foreclosure I have personally witnessed was due to over-spending. Cruises, vacations, boats, second houses, massive kitchen makeovers, house additions, etc. There isn't a single one of them where the family doesn't own (owe?) two luxury vehicles less than four years old. Hence, my feelings but I obviously need to think about the other side of this mess and appreciate your input.

 

[sugarspunZ_IHB]

i really dont see what is so shameful about a foreclosure. i know many reputable realtors and loan officers who were making a ton of money back in the day and who purchased homes with down payments, and who did not work the system, but unfortunately most are not making the money they were and are unfortunately facing foreclosure.

Oh I do. When you purchase three homes in three years for a total of $2.4M and then default on all three of them, don't pay any of your property taxes and skip your HOA payments for a year even though you enjoyed the high life for five years, I have a big problem with it.

I doubt many of the foreclosures are hitting reputable realtors - people that put 20% down and who actually believe that a mortgage actually DECREASES over time.

Even those people you are admiring may have dropped $50K from a HELOC into a new granite kitchen and another $50K into their backyard.

Losing your job is painful. In this economy it is downright frightening. For the few that did everything right and face foreclosure my deepest sympathy. To the rest - what comes around goes around.

i see your point and i do agree to an extent. i guess there are just to many variables to know in order to judge. the people and friends i am speaking of put 10 to 20% down, did not cash out to live like kings, and did not purchase ridiculous houses. they did what most would consider "right".

I see your point as well. I guess it all depends on what your personal perspective is. I haven't seen a single case such as you described above, yet you have seen several. Every single foreclosure I have personally witnessed was due to over-spending. Cruises, vacations, boats, second houses, massive kitchen makeovers, house additions, etc. There isn't a single one of them where the family doesn't own (owe?) two luxury vehicles less than four years old. Hence, my feelings but I obviously need to think about the other side of this mess and appreciate your input.

LOL trust me. i have seen quite a few of those as well and unfortunately they are far more common.

 

[IrvineCitizen_IHB]

Well you did understand my question correctly. I could throw an address out there but that would be unkind to this particular realtor. He moved into this house in 2007 at the top of the bubble, paid 1.4M+ for it, and then he moved back into our neighborhood. It's $50K in delinquent property taxes over the past two years but doesn't show up for sale anywhere or show as a foreclosure anywhere. Just wondering what could have happened to it!

PM me the Realtor's name, and I will tell you what is going on. That way you don't have to post their name here.

Sorry Graph. I sent you a couple PMs with the information but I don't show any PM's being sent by me. Not sure what is wrong. Thanks.