short sales

Many people are asking this very same question! There’s not enough money at the end of all the bills you have to pay. Costs of living keep going up and your monthly paycheck isn’t keeping up with the price of gas, the cost of food and everything else you value in your life. You can’t [...]

A property listed as a short sale in the Laguna Village sold last week for $1.75 million after being on and off the market since 2005, according to the Southern California MLS. The 2003-constructed home was listed for $2.1 million in February and last sold for $2.75 million in 2005 as part of a multi-property [...]

Currently there are 321 Condos currently Active for Sale in Irvine, and 105 of these listing are Short Sales, representing about 1/3 of the available inventory.  These Short Sale listings range in price from $130,000 for a 1 bedroom, 1 bath on up to $1,499,000 for a 3 bedroom, 4 bath, 2,677 square foot high [...]

  Foreclosures and short sales and real-estate-owned (REOs) are all distressed sales but different from each other. However, they are also similar because without knowledge about handling foreclosures, short sales and REOs, you could find yourself in dangerous territory. For example, while most short sales are foreclosures, not all foreclosures are short sales. To further [...]

The answer is YES. Don’t think it’s OK to foreclose. It’s not OK to think you’ll just let the house go; just mail in the keys and then file bankruptcy and you’ll be protected. WHAT R U THINKING??? Everyone needs to be accountable and responsible. Trust me; I’ve seen it all. If you have to [...]

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 [...]

Can a loan Modification save my Irvine home? Question: Is there a new basis interest rate which mortgagees may assess when completing a Loan Modification on my Irvine home? Answer: Yes, Mortgagee Letter 2008-21 states that the new basis interest rate is 200 points above the monthly average yield on U.S. Treasury Securities, adjusted to [...]