This video shows six properties in Carmel Valley that have a trustee-sale date in the next 4-5 weeks – I blew the first one though, it just closed as a short sale for $875,000. There are more, but we’ll add the five to our Carlsbad Nine to use as our test group of fourteen. Do they get auctioned off at the court house steps, do they postpone forever – or do they finally get their loan mod?
What happens to the people who get denied for their loan modification? The free rent program must be addicting, are they saving their money and willing to go back to making their old payments? They may think so in the beginning, but after getting denied there would be a natural bitterness towards the lender after jumping through all of their hoops. We may see some defaulters get their trustee sale cancelled, only to reinstate later.
How many do you think eventually get foreclosed? If you see any you like to buy, let me know and we’ll pursue them – here’s the youtube video tour: