Attention buyers: Remember the time when there were multiple offers on homes. There back again. But for a different reason. Orange County real estate sources have noted that listing inventory is half of what it was last year. We went from over 12,000 homes for sale to now only 6,000. And time on the market… Read More
Bank of America wants to streamline the short sale process to 20 days
May 12, 2012 By Leave a Comment
I was on the phone with one of Bank of America’s short sale negotiators last week and she informed me of some “big” changes coming to the short sale process. Bank of America claims to want to shorten the process to 20 days. I am all for it. We certainly can get it done on… Read More
Another shorts sale seller with rising credit scores
February 15, 2012 By Leave a Comment
I received yet another call today from a past client. He was delighted with the service we provided. Only 6 months after completing his short sale, his credit scores are back over 700. Why? Well I am not the credit bureau, but my guess is that is has a lot to do with the debt… Read More
Important Short Sale Facts
June 15, 2011 By Leave a Comment
Time is running out. It can take a year or more to short sale a home. After 2012, the mortgage debt tax forgiveness act will expire and you will pay the tax on any debt forgiveness. In many cases that can mean $20,000 or more in extra taxes. Fact: Some people sell their homes to… Read More
What is a Short Sale?
June 14, 2011 By Leave a Comment
Until a few years ago, short sales were rarely used. The market was strong and properties were rising in value. With the collapse in the economy, home values have plummeted and home owners have found that they owe more on their home than what it is worth. So quite simply, a short sale occurs when… Read More
Deficiency collection efforts on a second (junior) lien may be prohibited in California for purchase money loans
May 30, 2011 By Leave a Comment
With the proliferation of first and second combination loans during the last real estate boon, new legal questions developed. Clients often ask “Am I subject to deficiency on my second if the junior lien was taken out simultaneously with the first for the purpose of purchasing the home?” That’s a great questions! Typically money… Read More
How will a short sale affect my credit? A real world example! (Part 2)
May 30, 2011 By Leave a Comment
This is definitely one of the top three questions I am asked when interviewing sellers regarding short sales. Obviously there are a lot of factors that go into credit analysis and no 2 people have exactly the same profile. So I want to start with this disclaimer. If one person gets certain results, there is… Read More
Short Sale Clients – Pay your HOA dues to Avoid Complications and Collections!
December 8, 2009 By Leave a Comment
Home owners associations have become very aggressive in trying to collect past due HOA dues. The high delinquency rate has pushed HOA’s to the brink of bankruptcy. Many short sale clients are finding that after a period of time the hoa is filling in small claims court and passing the account on to collection… Read More
How will a Short Sale Affect My Credit?
October 19, 2009 By Leave a Comment
What a great question! If you have been thinking this, you are not alone. A good thing about short sale is that it represents the opportunity to lift the heavy burden of carrying an overpriced home off of your shoulders and a chance to start fresh. But the one thing short sale sellers want to… Read More
The Short Sale Authority – FAQ’s
September 15, 2009 By Leave a Comment
In the last 3 years, short sales have become the predominant type of sale in Orange County, CA. It is estimated that over 60% of all home sales are short sales. As an independent agent, they make up the majority of our work. We specialize in short sales and handle each and every shorts sale… Read More
