Today Los Angeles Councilmember Richard Alarcón (District 7) challenged banks to put a moratorium on foreclosures in Sylmar, and to help Sylmar residents on the verge of foreclosure to keep their homes. A news report about Sylmar real estate on KNBC tonight showed a Sylmar map full of black dots, representing more than 1,000 foreclosure homes available for sale in Sylmar, a foothill community of the northeast San Fernando Valley.
Many of these homes are vacant and are blighting the area, Alarcon said. He wants banks to start doing more to prevent foreclosures, or, he suggests, the City of Los Angeles may pull out cash reserves from these banks in protest of their business practices.
Meanwhile, in an effort to clear out some of these foreclosures in Sylmar, I am conducting tours of REO/bank owned homes in Sylmar for interested buyers/investors. If you are interested in buying a foreclosed home in Sylmar, please call me to schedule your tour to see homes you are qualified to purchase. Be aware that foreclosed homes may be in need of repair and may not qualify for traditional financing.
REO VAN TOUR SCHEDULE
Tuesdays — 1 p.m. to 4 p.m.
Saturdays — 10 a.m. to 1 p.m.
Call for reservations: 818-970-1286
Serious buyers: Bring a letter of approval from your lender, deposit check, current bank statements, and recent FICO score. If you do not have these items, you will need to get pre-qualified through our lender sources prior to your tour.