Posts tagged as:
Foreclosure
WHAT DO THEY MEAN SHADOW INVENTORY?
If we look at SHADOW INVENTORY for Southern California we will find over 160,000 properties! These are homes that either have a notice of default filed (missed at least 3 mortgage payments), are scheduled for auction (the next step from NOD), and are bank owned.
What incentive do you have if the value of the home [...]
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How to Avoid Foreclosure in your Irvine home
How to Avoid Foreclosure in your Irvine home
Essentially, there are two directions you can go in when trying to avoid a mortgage foreclosure on your home. You have multiple options along each of these “paths,” but for starters you must choose one of the two directions below:
You will get caught up on your mortgage payments. [...]
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Foreclosure or Short Sale
Foreclosure or Short Sale
The question always comes up, “Is it better to do a short sale than go through foreclosure?” The circumstances that lead up to the loss play a roll in the final answer along with the timing of how soon someone can purchase another home. These are the guidelines in place by FNMA [...]
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Foreclosure Time Line
Foreclosure Time Line
The timeline displayed here is typical in a California non-judicial foreclosure. The foreclosure timeline does not begin until the lender feels they have exhausted all avenues for curing the payment delinquency. Normally, this happens after the borrower has missed three monthly mortgage payments and the Notice of Intent to Foreclose has expired. The [...]
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What Are My Options To Avoid Foreclosure on my Irvine Home
What Are My Options To Avoid Foreclosure on my Irvine Home.
You do have choices to avoid Foreclosure on your Irvine home. First thing you should do is inform your lender as soon as possible. Let them know that you intend to remedy the situation so that they will not have to obtain the [...]
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Can I Stop Foreclosure on my Irvine home?
Can I Stop Foreclosure on my Irvine home?
The first way is to immediately bring the loan current. In order to do that you must pay all delinquent amounts as well as any costs and fees incurred by the mortgage company during the time they processed your file to foreclosure.
For many borrowers, the loan is [...]
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How Fast Can A Foreclosure Occur, What’s The Timeline?
How Fast Can A Foreclosure Occur on my Irvine Home?
In Irvine, CA a foreclosure can be completed in less than six months from the time the loan becomes delinquent. The foreclosure process can take place two months after the loan becomes delinquent. The first step is to record the Notice of Default. Usually, the [...]
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How Fast Can A Foreclosure Occur on my Irvine Home?
How Fast Can A Foreclosure Occur, What’s The Timeline to save my Irvine home?
In Irvine, CA a foreclosure can be completed in less than six months from the time the loan becomes delinquent. The foreclosure process can take place two months after the loan becomes delinquent. The first step is to record the Notice of [...]
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What is a short sale? Can it save my Irvine Home?
What is a short sale? Can it save my Irvine Home?
A short sale is when you successfully sell your home to another buyer, even though you owe more on your mortgage than what your home is worth. This occurs when your lender forgives the higher owed balance on your mortgage and therefore absorbs a [...]
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My Irvine Home, Loan Modification can it help?
My Irvine Home, Loan Modification can it help?
Question: Can a mortgagee qualify an asset for the Loan Modification option when the mortgagor is unemployed, the spouse is employed, but the spouse name is not on the mortgage?
Answer: Based upon this scenario, the mortgagee should conduct a financial review of the household income and expenses [...]
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