We have some clients that are within the, everything is a "conspiracy theory", realm.  They are concerned with the banks and media not being up front with us regarding the "shadow inventory" rumors.

I cannot comment on that or if there is indeed a conspiracy at work.  However, time will tell.Santa Clarita foreclosures

We received a new foreclosure asset that Citi bank needs us to take care of.

It's located within the Friendly Valley community of Newhall - which is one of the cities inside of the Santa Clairta Valley.

Trying to gain access - very difficult.  It's a guard gated senior community.  The Management staff and security seems to be all about no one(re: residents) being bothered or interrupted.

I get that.  They have a job to do.  When we receive an assignment, such as this, we have to door knock the property that has returned back to the bank(been foreclosed on).

We need to verify who is inside.  Is it the previous owner, a tenant or is it vacant?  Just to gain access to this one was difficult, as it has been in the past.

However, I did verify occupancy and was able to get a locksmith lined up to have the place broken into and re-keyed.  Oh, one of the folks that works in the management office for the Friendly Valley Home Owners Association gave me the intel of the unit being vacant.

I am always very respectful at the front gate - but there have been "exchanges" in the past regarding realtors and the association.

Not with me - but with a couple of other agents who almost had the sheriff's called.

I don't bureaucracy is too strong of a word in this case...  Maybe Pride/Ego - "Maybe them's the rules :)"

Be safe - search well and enjoy our Santa Clarita foreclosure updates below.  Each of these properties was just given notice with a change in ownership or "default".

We were honored with a response from a Homeowners Association:

Thought I’d send you a Management Co/Association perspective & apology for you frustration with restricted property access to post-foreclosure properties (see your quote appended below).

It’s our experience “the bank” doesn’t bother to notify the Association of a foreclosure – most likely, because they are legally responsible for dues, fees & charges & Unit repairs from the date of foreclosure forward.  We’ve been told by numerous banks, Servicers & even Escrow Officers “the bank won’t pay anything until the property is resold” – which isn’t legal or ethical.   Also, the Association may have a filed Lien, NOD or even an NOS on the foreclosed Owner and without a copy of the filed TDUS, cannot determine their validity, the legal Owner of the property and certainly cannot generate a ledger for the new Owner’s post-foreclosure dues, fees & charges.  

Finally, many Owners are illegally rent-skimming & we have NEVER had any bank care about the Unit occupants when we’ve told them about it – even though rent-skimming is illegal in California.  While the rent-skimming goes on, the Association must continue to pay the Unit’s water, insurance, trash, common area maintenance and quite often plumbing & property repairs because damage caused by the Unit occupants isn’t taken care of by the Owner in foreclosure (which can be up to 2-3 years in duration) and usually affects other Units and the common area.

So, when a RE Agent requests property access, it is often the first confirmation of a foreclosure & sometimes the RE Agent is the only contact the Association has to find out when the foreclosure happened, who the new Owner is (bank) and how the Association can contact them to get them to make their Association payments --- as every Owner is legally obligated to do.

Sorry, but our experience is that RE Agents are far more accountable than banks or their Servicers and we do use property access restrictions to find out information the banks will not provide.  Withholding access to the property is sometimes the only power the Association can wield to get banks to do what is legally required of them.

Best Regards,

Your New Foreclosures alert, Paris911's Sold to Third Alert for Santa Clarita Valley CA, found a match.

 

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Sold to 3rd 23795624 24841 APPLE ST G NEWHALL 91321 CA CND 1156 2 2.00 02/22/2013 $182,727.00 $168,000.00

Your New Foreclosures alert, Paris911's Pre-Foreclosure Alert for Santa Clarita Valley CA, found a match.

 

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Preforeclosure 502592870 29022 MIRADA CIRCULO SANTA CLARITA 91354 CA CND 2129 3 3.00 06/15/2013 $336,551.00 $426,189.00

Preforeclosure 500585686 23857 VIA JACARA SANTA CLARITA 91355 CA SFR 2946 4 3.00 06/15/2013 $488,417.00 $521,620.00

Preforeclosure 517449926 26266 PARK VIEW RD VALENCIA 91355 CA CND 2834 3 3.00 06/15/2013 $638,508.00 $589,874.00

Preforeclosure 23810129 25718 HOGAN DR C1 SANTA CLARITA 91355 CA CND 1041 2 2.00 06/15/2013 $210,108.00 $304,994.00

Your New Foreclosures alert, Paris911's Auction Alert for Santa Clarita Valley, found a match.

 

Stage Radar ID Street City Zip State Type Sq Ft Beds Baths Sale Date Est. Value Est. Bid

Auction 23972026 30585 HASLEY CANYON RD CASTAIC 91384 CA SFR 3641 3 3.00 03/11/2013 $667,345.00 $1,282,986.00

Auction 23775827 22149 PAMPLICO DR SANTA CLARITA 91350 CA SFR 1465 3 3.00 03/11/2013 $338,450.00 $233,726.00