CRR Blog

Today, we want to give you some instructions on how to set up a saved search that will send you emails each day when new properties show up in your area of interest. 

·         First, you log in and select property search

·         Select a County Zone (Just one only)

·         Scroll down to the General Property Search section

·         Select one of the options under "Choose One" such as Default Notice or Trustee Sales

·         You can now select from many options in the general property search section if you want to make very specific choices. 

·         You can specify the number of bedrooms and bathrooms. 

·         You can specify the type of property. 

·         You can specify up to 3 cities or zip codes within the county zone, or

·         You can scroll further down the screen to the map for a polygon search

·         The Polygon search option lets you draw a multi-sided box around a geographic area

·         If you wish to create a polygon for your search, put your mouse cursor on the map

·         Adjust the map to center on the area you want, and zoom in if needed

·         Begin your polygon by clicking one point on the map

·         Move your mouse cursor and click on a second point on the map

·         A red line will form between the two points

·         Move your mouse cursor again to another point and click to make a second line

·         Continue this process until you have just one line left to do to finish the box

·         Click on "Close Polyshape" and the polygon will be complete

·         Now you should have a search that is ready to save

·         Scroll up the page to just above "Choose One"

·         Click on "Save this Search" and a small window will open in that spot

·         Now type the name you want to give the search and click "Save"

·         The search will be saved to your "My Searches" folder

·         Now click on "My Searches" just above Kurt's Photo on the left of the Property Search Screen

·         You will see the search you saved

·         Look to the right and you will see it says "Activate Notifications"

·         Click on "Activate Notifications"

·         You will now get an email each day with the properties that your search picks up

·         Call 800-664-2567 if you would like us to create a saved search for you

Today we want to show you how to set up your "My Properties" folders, how to save properties to these folders, and how to set up email or text status updates on individual properties that are scheduled to go to auction.  First we will show you how to set up your "My Properties" folders and save properties.

·         First login and select "My Properties" just above Kurt's photo on the left side of the home page

·         You will see "My Properties" at the top of the new page and 6 blue tabs just below it

·         The 4th tab from the left is "Manage Folders"

·         Click on this tab to create separate folders so you can save and organize your properties

·         Just type a folder name in the blue box and click "Add Folder" to make a new folder

·         The new folder name appears above

·         You can create new folders or delete old folders anytime you want

·         You can add or delete properties in any of these folders anytime you want

·         Once you have created the folders you want, click on "Property Search" on the left side of the folder page to proceed to the General Property Search Screen

·         Search using the "Standard View" Report Format to access these save and update functions

·         Set up a property search as per instructions we sent you on a previous email

·         Your search results will appear with a map at the top of the screen and a list of properties below

·         Click on the address to open the profile of the property

·         The property profile has a map on the upper right side

·         Above the map is a "Save" button

·         To the left of the "Save" button is a small window that says "General Folder"

·         To the right of "General Folder" is a small down arrow button (Drop Down Menu)

·         Click on the down arrow and you can select any of the new folders you just created

·         Click the "Save" button and the property will be saved to the folder you just selected

·         You can open the "My Properties" page at anytime to see this property

·         The "My Properties" page shows all properties in all folders by default as a single list, or you can choose just one of the folders above to see only that folder if you want to

·         If you save NOD properties to these folders, these records are NOT updated once saved, so you will need to make your own notes in the space at the bottom of the profile page, you may also upload photos if you want to, as this is your private information

·         If you save NTS properties to these folders, these records are Dynamic, so you will see that the auction dates and status will automatically be updated for you.  You can also write notes and upload photos in the space at the bottom of the profile page as this is your private information

Text and Email Status Updates:

·         The update function is for NTS or Upcoming Trustee Sales Properties Only

·         Open an NTS property profile and scroll down below Auction Details to the Updates section

·         There are two options in this section.  One is to set up email updates, and the other is to set up text updates to your cell phone

·         The first section for email updates lets you select either Status Changes or Dropped Opening Bid

·         The second section for text updates is also for Status Changes or Dropped Opening Bid

·         You can select either email or text updates, but not Both

·         If you select Status Changes we will notify you of any change at all, including postponements, cancellations, sale results, and drop bids.

·         If you select Dropped Opening Bid we will notify you if the bid is dropped before the auction

·         Don't forget to type in your email address or cell number and carrier

·         You can cancel updates anytime in the profile itself or from the "My Properties" page

Today we want to show you how to research a property in further detail using our Single Property Search section of the Property Search page.   Follow these instructions with a property you have found already on the website, or you can use these same methods to research a property you have found elsewhere or in the field if you want to see if we have records related to that property.

·         First,  login and select Property Search.

·         Select a County Zone.

·          Scroll down to the Single Property Search section just below the County section.

·         There are 4 boxes in this section.  Each one has a title on the left hand side.

·         The first box is for the Street Number, or Street No.

·         If the address is 123 Main St, just type 123 in this box and click the Search Button.

·         Or...

·         The second box is for the Street Name.

·         If the address is 123 Main St, just type Main in this box and click the Search Button.

·         A new window will open with your  search results.

·         There will be a number of records listed, with the most recent records at the top.

·         You will also notice that NTS records will be at the top, and NOD records will be below.

·         You can tell the difference, because only NTS records will have sale dates.

·         If you see the address you want, click on it and open the profile.

·         Once you have the profile open, scroll down and copy the APN.

·         Now return to the Single Property Search

·         The third box is for the APN or Parcel No.

·         Paste the APN in this box.

·         If there is a Street Name or Number in the boxes above, erase it.

·         Now, click the Search Button.

·         Now you will have a new window open with search results for this APN ONLY.

·         This is your historical record for all the records we have for this address or APN.

·         You should open and review each of these records, note dates and loans shown on each one. 

·         This will give you an overview, so you have a history of the foreclosure over time.

·         This will also help you determine title questions to ask prior to bidding at auction.

·         You may see that some records have more loans or different loans than others.

·         Compare the records carefully, then call CRR or a title company to resolve your questions.

·         The fourth box is for the Trustee Sale Number or TS No.

·         This is another search option you have, but it is limited to NTS records only.

·         Use this tool to see if other loans have foreclosed or if there is a long history behind a particular foreclosure.  If you are considering buying junior notes, this is also a good step to see if we have records of previous foreclosures that show the lender and their contact information.

·         Once you have used this tool, you will immediately see the value of our archived data.

Subject Property at NOD Stage of Foreclosure as of 10/23/2014:  An Irvine Property.

Home at end of Cul De Sac with Fairway View of Strawberry Farms Country Club.

Estimated Value of $1Million.

1st TD of $938,250.00 Dated 5/3/2011  2ndTD of $1 Dated 5/3/2011

Delinquent Amount of $464,371

It would appear that the borrower owes $938,250 (the principal balance of the foreclosing first TD) plus $464,371 (the delinquent amount needed to bring the loan current )or a total of $1,402,621.00.

That would be true if this were not a "Reverse Mortgage Foreclosure".

The 2nd TD of $1 recorded on the same date is the clue.  Every Reverse Mortgage is recorded in two documents, as HUD guarantees these instruments, and the $1 recorded document is what our system shows to indicate the HUD guarantee.

So what is the real deal?  The current owners are in default on a Reverse Mortgage.  The delinquent amount is the total amount due.  The original principal borrowed is no longer a real number.  The only number that matters is the delinquent amount.

So we have $1Million worth of house and only $464,371 in debt.

Which of Kurt's 5 Ways to Buy would you try?

1)Make an Offer to the defaulting owner BEFORE the Trustee's Sale. 

This is your first choice in this scenario.  There is enough equity for the borrowers to get a "piece of the action" and you still walk away with a great price.  Make an Offer!!!

2)Bid at the Trustee's Sale.

This is a later option.  It is a good deal right now. Why wait?  If they turn down your offer you can go this route, but not for a good 4 months.  There will be competition and you will have to pay in cash.  The lender does not have to "Drop the Bid", so every bidder will have their eye on this one.  Try and get it BEFORE this happens.

3)Buy as an REO AFTER the Trustee's Sale.