Looking for pre-foreclosures or REO's in Irvine? Sorry!
By Debbie Sagorin, Marketing Irvine to the Highest Level
(Coldwell Banker Realty)
Looking for pre-foreclosure homes or foreclosed ones, (REO's), in Irvine?You may be disappointed.HERE are the available Irvine listings.Very few are listed for sale right now, but many more are expected to be listed in the months ahead due to HELOCS taken out during the boom years turning 10.Usually banks give HELOCs, (Home Equity Line Of Credit), up to a certain amount (often in the ten$ of thou$and$), and they allow homeowners to use the money ffor any purpose, (pay of high interest credit cards, take a vacation, do some remodeling, whatever). Typically only the interest has to be paid for the first 10 years of the 30-year loan. But after that, (uh, now!), homeowners usually have to start paying both the interest AND the principal.So many homeowners who took out HELOCs 10 years ago ar...
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