Where Do I Search For Tax Liens On Apartment Buildings
Hi my name is Jerbethaqui "Beth" I am a real estate agent in the southern california area. I am new to the investor business and to the forum. I need help!! If anyone out there can or would assist me. I am trying to find the best way to locate preforeclosures and tax delinquent apartment buildings. I am starting with a small budget, however I am willing to share. Thanks. 
Beth,
there are numerous companies in the Los Angeles areas that publish lists of "pre-foreclosures" that you can subscribe to. They publish sfr as well as commericial property defaults. Just do a Google search & you will find them. For tax delinquent property you can go to the county assessors office to find those.
Mortgage companies will look at the foreclosure as being worse than the bankruptcy. I am able to get financing for people one day out of bankruptcy, and if your son had decent credit before the bankruptcy he may still have a fairly good credit score, its not impossible. The one thing the Lenders will look at is did the Mortgage get Paid!
Will his wife quit claim off title?
Is the house set up as a homestead, if so it can be excluded from the bankruptcy?
Is there a second on the home, it can be included in the bankruptcy thus lowering the payments if the property is homesteaded.
See my profile if I can be of any help!
Good Luck,
Robert
Is there enough equity in the home to refinance ???
Yes , I believe there is. He had it appraised, and it was appraised for 290k. He owes 260k on the first, and 15k on the 2nd.
Unfortunately with the current situiation your son is in most lenders will only go up to 75% of his home value. So with a $290k value ...the max loan size would be $217k.
I agree with roberth.
I do a fair ammount of short sale property, and a foreclosure is much worse on your credit vs. a bankruptcy. At this point, he should contact a realtor or investor who specializes in short sales, and cut his losses. At lease he would escape without the foreclosure.
[addsig]