short sale: Key Questions to Ask Before Buying a Foreclosure - 01/13/12 06:47 PM
Although foreclosed properties can be good deals, the process of buying is rife with pitfalls. Here is what you must know: 1. Have you done your research? A foreclosed property may have all sorts of clouds on its title, from multiple bank loans to tax and contractor's liens. Once you buy, you're responsible for all such balances. Be especially wary of the situation where one bank forecloses, but another still demands to be paid. 2. How far has the process gone? If the foreclosure hasn't happened yet, it's often possible to contact the owners and arrange a pre-foreclosure sale, which can … (3 comments)

short sale: Short Sale major news! - 07/13/11 01:18 AM
Now You Can Substitute a New Buyer for One Who Walked Without Restart!
"Bank of America now allows real estate agents to submit a backup offer on a transaction if the original buyer has walked away from the sale.  This means you will no longer have to initiate a new short sale; instead, you can continue with the original transaction in Equator and still work with your same short sale specialist.  This change will save you time by not having to repeat a number of process steps".
Have you heard about this? This is huge!
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short sale: Best time to write an offer? - 08/07/10 08:20 PM
 
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short sale: Major Housing Stories of 2009 - 12/30/09 09:34 AM
Foreclosures and Short Sales Dominated the U.S. Housing Market in 2009 December 29, 2009: 03:07 PM ET Foreclosures were the driving force behind the roller coaster year for U.S. real estate in 2009. With banks controlling many home listings, fewer homes coming on the market, and government intervention, foreclosures played a large part in shaping the housing market this year -- both good and bad. Leading online real estate brokerage ZipRealty (www.ziprealty.com) (NASDAQ: ZIPR) has compiled the nine key housing stories of 2009. The list follows below.
Nine in 2009
1. Bank Market -- Many have described the 2009 housing market … (0 comments)

short sale: Looking to buy or sell Orange County real estate? - 06/13/09 01:00 PM
Whether you already live in the Orange County area and are simply looking to relocate, or you're new to town, moving from another city or state all together, Orange County Real Estate Authority can help you find and compare real estate in every community. Search Orange County real estate by MLS listings, find a real estate agent, and determine the value of Orange County area homes right here.
You'll also find detailed descriptions of more than fifty individual communities in and around Orange County and the Central Valley, all with average housing and property costs, statistics on neighborhood schools and school … (0 comments)

short sale: How AIG's Collapse Began a Global Run on the Banks - 10/11/08 08:45 PM
This is an outstanding explanation of our current credit crises by Porter Stansbury;
What follows is one of the real secrets to September's stock market collapse. Once you understand what really happened last month, the events to come will be much clearer to you... Every great bull market has similar characteristics. The speculation must - at the beginning - start with a reasonably good idea. Using long-term mortgages to pay for homes is a good idea, with a few important caveats.
Some of these limitations are obvious to any intelligent observer... like the need for a substantial down payment, the verification of … (0 comments)

short sale: Short Sale & REO Listing Confusion - 09/25/08 05:39 PM
Basics;
 A short sale is a property that is being sold for less than the owners owe on it. In order for a short sale to come off, every mortgage lender and lien holder who holds a debt secured by that property must agree to forgive some or all of that debt. Short sales can, paradoxically, take many months to close, and many never do -- the list price can be bizarrely lower than the actual price the lenders will accept, and lenders can take up to six months to even say 'yea' or 'nay' to a short-sale offer. As … (0 comments)

short sale: Tax Break for Mortgage Debt - 12/22/07 10:37 PM
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Len Malena

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Trabuco Canyon, CA

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