[SD Realtor]

“We are quickly reaching the point where the majority of public funds will be going toward retirement payouts. Already, in places like San Jose and Vallejo, the majority of their city budgets go to public services provided in the past.”

Stop making so much sense pr_dk.

I can already predict the response from CAR. This would all be sustainable if not for those Wall Street thieves!.

[SD Realtor]

First the advice.

Yes you are liable for the taxes and any other liens that you find out about. Pay it and pay all the other liens. The preliminary title report also should have any other liens on it. If you cannot figure out how to read the report then hire a title officer to help you out. Call any reliable title company to do this. Pay them to run generate a new preliminary title report and help you understand it.

Now the scolding.

How anyone can go to a trustee sale and not have a full review of a title report is pretty much incomprehensible. What has happened to you should be a lessen to everyone that buying a home from trustee sale is big boy stuff. It is not hard, anyone can do it, but without taking the proper precautions and doing it the right way you can get burned. The first and most very basic of steps is to have good title connections so that you can get title information on the subject property. There are several other steps to take as well.

Hopefully this is the only thing that you will have to deal with. If you plan to keep going to trustee sales please take some time and spend some money to research the properties so you don’t get burned.

[SD Realtor]

It may not be a bad idea for your friend to call his lender as well to explain what is going on. Now recall that the title insurance policy is protection in the form of a payout. The policy itself will not prevent the foreclosure. Also the title insurance policy that protects your friend is not the same policy as the one that protects your friends lender. When you were in escrow there was a search that was done that went through the title history of the property. This is where that lien would have been identified.

Now my guess and it is a big guess… Is that all of this was indeed identified in the report and somehow ndex screwed up when the original trustee sale happened. I could be very wrong though so you never know.

I think a call to ndex right off the bat can straighten it all out.

[SD Realtor]

It would not be responsible for me to speculate on whether ndex could or could not foreclose on the home. Lets see what some of the dates are with regards to when the original lien was filed (the second loan) verses when the foreclosure occurred. Also lets see how his conversation goes with the old title officer as well as what he digs up with the preliminary title report. A quick conversation with the title officer should help alot. Chances are that since it was so long ago the title officer will not recall so he may want to have a copy of the title report when he calls them. Also he should call ndex first rather then sending them anything back but definitely he should not ignore them.

[SD Realtor]

First thing he should do is to dig up the preliminary title report that he received when he was in escrow. That preliminary title report should have all of the liens that were filed and recorded on the property prior to purchase.

Technically, to be honest when a home transfers ownership, the new owner is actually liable for any previous liens.

Without knowing the specifics it sounds like this lien was probably a second that should have been wiped out when the home was originally went to trustee sale. I am assuming your friend bought it well after 2006.

So that is your very first step, get hold of that preliminary title report, check all the liens on it. Then get hold of the original title officer and ask them why this lien was not identified. You should probably check to see when this lien was originated and recorded as well.

It may not be a bad idea to talk to an attorney. Ignoring the problem is not a good idea. Your friend may also want to call ndex as well to get more details and dates to see if they line up. Also he should get the date of the original trustee sale and then let ndex know that. Somewhere someone slipped up. Should be resolvable.

[SD Realtor]

Hobie what points are there to address? Why should there be any public outcry at all when you have plenty of alternatives? While you feel most people may be intimidated or emotionally reacting, I would argue the other way which is, most people are simply to lazy to do research and explore other options. Most everyone who had ever visited Piggington did so because they started to research housing. It takes time and effort. So why should there be public outcry over a system that already has plenty of alternatives for consumers?

There should be public outcry over plenty of other things. The system is plenty f-ked up but not because of commissioned realtors. The public outcry should be over the manipulation of the entire market. Of creating an entire system that places valuations of assets that is freaking crazy.

************************************************
Regarding the overall argument that has mushroomed on this thread….

What would happen if we totally overhauled the tax code and made it so simple that anyone could prepare returns?

Do you guys think a few accountants would lose jobs?

***********************

Lets be very honest here… Does anyone really think that all of the subsidizing we see for home ownership was done with the goal of gainful employment for realtors?

Really does ANYONE believe that? Come on now, the govt is begging, pleading for people to buy homes because of the OVERALL employment benefits. We have seen that it is pretty much the lynchpin of the economy. Don’t MISTAKE this argument for some comparison of realtors verses public workers because it is not. However for people to think that historic measures to promote home ownership are targetted for realtor employment is absurd.

I will not try to defend the job of a realtor because it would be a waste here. It would be just as much of a waste as me trying to explain how to build a fractional resampler with interpolation using a farrow filter. I have done both and know the challenges of each. Few if any of you here know either with the exception of a few dsp engineers and the other realtors.

For those crying that public workers have suffered more cuts or job losses then the private sector, I have to laugh. Guess what, things are tough all over. Everyone has suffered.

[SD Realtor]

Yeah Hobie I guess that nasty realtor goes to peoples homes and puts a gun to their head to force them to use him. Obviously there are no choices for people out there like Redfin or even flat fee models like Help U Sell.

Sounds like the Realtor KGB has a stranglehold on our society.

Personally I like to show up with an uzi at my listing appts.

[SD Realtor]

Brian there may still be some hope for you yet.

Let the indoctrination begin!!

[SD Realtor]

brian lately you have been freaking me out!

[SD Realtor]

Remember those who bought “houses they could afford” at the peak because “life happens”. They likely don’t have the equity to refinance at today’s low rates. Oh well, life happens.

Don’t be surprised if that changes in a short time.

[SD Realtor]

You can order a copy of title from the DMV scaredy.

[SD Realtor]

Your right sdr, the ignore button works great. I have taken advice from FLU and not bothered.

sdr could it be that

markmax = bg?

[SD Realtor]

You can call out anyone you want. Thank you for making my point for me…That this is the most manipulated, corrupt, backstopped, jelly filled donut real estate market ever. Where asset values are propped up by valuations that make no sense.

Have I said otherwise? Please show me a post where I have implied otherwise… go on show me!

Also please do not confuse overhang and shadow inventory with active inventory on the market. How many years have we had significant shadow inventory? Did it just show up?

Please try to at least point out something that we have not all been commenting on here for the past 5 years okay?

You are on a real estate blog and you came here, it did not come to you. If it is something you don’t like then go somewhere else. You didn’t even come here for real estate, you came her to shill for a political candidate. Read what this blog was intended for. It was intended for real estate discussion, data, advice, etc…

The fact of the matter is that many people come here for real estate advice. Whether they get it from a licensee, a broker, or any other posters it is up to them to use it, ignore it, or do whatever they want with it. People post questions, ask for input, ask for opinions on homes, on sales that look odd… etc… The fact that you do not want it or need it is fine, and you can call out whoever you want to. So if it bugs you when realtors give advice on real estate here, why don’t you use the ignore user feature!

There are plenty, plenty of ways for buyers and sellers to save thousands in commissions. You want to project your frustrations with real estate professionals as you see no value in them but many other people have realized great value from them. The bottom line is that most agents are either idiots, incompetents, greedy, and/or dishonest. Comparing the peers I had from decades of work in electrical engineering to real estate agent peers is laughable. However the bottom line is that there are good agents out there, very good ones who add value to a transaction. The ones that post here are good, agents like Jim Klinge are good… Nobody is forcing you to use them.

Believe me, I know plenty more about the supply and overhang of San Diego real estate then you imply I do. You go ahead and keep believing it will all change. How you can actually post that some administration will come in and actually change that is laughable….

The bottom line is that it will not change until our credit is cut off.

Would you like to make a wager? How about if the market crashes for any other reason other then high interest rates due to our credit being cut off or we default or some other event that causes high interest rates then I will never post here again. However if that is not the case then you go away.

How does that sound?

Also look back and see the topics of threads where advice was given. Those threads are soliciting thoughts and opinions.

[SD Realtor]

So lets take a poll.

How many private sector job holders here on Piggington receive a pension? I have been in the engineering field over 25 years now. Can you show me examples of telecom companies with pension plans for regular salaried engineers? You make it sound like it is a regular thing so I am curious to hear about all these companies.

**************************************************

It is odd to me that you are so far off the mark here. You are making an implication that once upon a time there was a utopia that existed and somehow it was all taken away because of Wall Street. I am not denying wrongdoing buy Wall Street.

So tell me…. when did your utopia exist? When did the state provide all these services, pensions, free higher education for people who were not citizens, welfare and social services, and all of this was 100% supplied by taxpayers.

When was this again?

Nobody needs to be punished. However why can’t we all be on the same playing field? Why can’t all workers public or private simply donate to a 401k?

Is that such a crime?

[SD Realtor]

As my wife reminds me, without her I’d probably still be living in a filthy hole having skipped law school and eating microwave stuff.

She makes a valid point. Sill, the filthy nest sounds cozy sometimes.

****************************

Yes that is true for me as well scaredy… Our wives do make us better… however the real question is do we really want to be better?

[Author]

Posts