Sun Lakes (Banning, CA)
Sun Lakes (Banning, CA) Real Estate News
Banning Reverse Mortgage Story - Couple Buys With A Reverse Mortgage
Deborah Nance, Southern California , Reverse Mortgage Specialist (Orange County, Corona, Riverside, Los Angeles)

Corner of Sun Lakes Blvd and Highland Springs

I love my job!  One of my  favorite Realtors®, Kevin Enriquez and I just closed escrow, and on time, for a great couple who bought a Sun Lakes Country Club home right on the golf course.  They love the location of Banning with it’s altitude, afternoon breezes and mild version of the four seasons.   They seriously considered  paying all cash for their new home, but chose instead to finance the purchase with a reverse mortgage.  They put just about 42% of the purchase price in cash into the home which covered the down payment and the closing costs.  The rest of the purchase price was financed with a reverse mortgage on the new house.  Since there are zero mortgage payments on a reverse mortgage their monthly housing expense is now the same as if they had paid cash!  Of course they still have to pay property taxes, homeowners dues and keep their home insured and maintained just as any homeowner needs to do.

The lending limit for Reverse For Purchase is $625,500 at this time and if you are considering downsizing to that perfect home to retire in I would encourage to take a look at a Reverse For Purchase.  



By Deborah Nance

Your Local Southern California Reverse Mortgage Professional

How Much Do You Qualify For?

Click the Learn More Button below to email me a question.



Garrigus real estate
Garrigus Real Estate - Call Now: 1 (888) 9-LIST-IT (Coldwell Banker Kivett-Teeters)




Don't make the biggest mistake ever... Do not let the bank foreclose on your Banning home!

Loan modification is a temporary fix and can still leave you with negative equity.






  • A short sale can let your deficiency be forgiven
  • In most cases a short sale can leave you with no tax liability
  • Our short sale real estate services are at no cost to you
  • And we can help you get out of your bad situation


Don't be fooled! The bank will come after you and foreclose your Banning house. They may even be able to get a judgment against you AFTER the foreclosure for the negative deficiency, which could be tens of thousands of dollars! But what is the difference between a foreclosure and a short sale? Here are your options of foreclosure vs. short sale:


  • A foreclosure will slash your credit score as much as 250 points or more, and can affect your credit for a minimum of 5 years or more!!!
  • But a short sale only affects your credit score with the late or missed mortgage payments. The credit bureaus will report PAID or NEGOTIATED if you short sale.Your credit score will not be lowered as much with a short sale.


  • A foreclosure will remain as public recorded on your credit report for 10 years or more.
  • A short sale is not reported on a person's credit history. There is no specific SHORT SALE term and is most cases is reported as PAID, SETTLED or NEGOTIATED.


  • If your credit report contains a foreclosure, most home mortgage lending institutions will consider you ineligible to purchase for 5 years or more.
  • If you successfully negotiate a short sale of your Banning property you may be eligible for a mortgage loan and purchase a new home in as little as 2 years.


  • Banks have the right to pursue a deficiency balance if your foreclosed loan was not a purchase money loan (If you received any money for anything other than the purchase of your house, also called a hard money loan).
  • In a successful short sale it may be possible to negotiate with the bank to release you of any deficiency balance and avoid any future judgments against you.


Need more information?


1 (888) 9 LIST-IT

or (951) 490-3683

or click here: Listing Agents in Banning CA




Foreclosure Agent/REALTOR & Short Sale Specialists
Coldwell Banker Kivett-Teeters Associates 

Devona Garrigus / DRE License # 01844441

IMPORTANT DISCLOSURE in compliance with the FEDERAL TRADE COMMISSION ("FTC") MORTGAGE ASSISTANCE RELIEF SERVICE ("MARS"): Before using this service, consider the following information - Coldwell Banker Kivett-Teeters Associates are not associated with the government and our services are not approved by the government. Seller acknowledges that the Broker/Agent is not qualified to provide financial, legal or tax advice regarding short sale transactions. Therefore, the seller is advised to obtain professional tax advice and consult independent legal counsel immediately regarding the tax implications and advisability of entering into a short sale agreement with their lender/servicer. If you stop paying your mortgage, you could lose your home and damage your credit rating.

Buy Your Sun Lakes, Banning Home with a Reverse Mortgage
Deborah Nance, Southern California , Reverse Mortgage Specialist (Orange County, Corona, Riverside, Los Angeles)

Mountain View
Here is some information on utilizing FHA Reverse Mortgages to double or more your purchase power on your new Sun Lakes home and still not have any monthly mortgage payments!






 There are 3 Major Benefits To  Home-buyers

  • Gives home-buyers who are downsizing more purchasing power than if they had to pay all cash
  • Designed to allow your seniors to purchase a new principal residence and obtain a Reverse Mortgage within a single transaction by eliminating the need for a second closing.
  • Buyers do not have to "qualify" for monthly payments on the new purchase transaction.  A significant detail to senior home-buyers on a fixed income. 

Other Benefits to Home-buyers

  • Eliminates Monthly Mortgage Payments
  • Borrower Maintains The Title
  • Loan Is Non-Recourse
  • Remaining Equity Goes To Borrower Or Borrower's Heirs, Not The Bank
  • No Pre-Payment Penalty
  • FHA-Insured
  • Usually No Income Verification Or Credit Score Requirement (If buyer is retaining their former home as rental property there are income requirements) 

* Certain transactions will require "qualification" - ask your Reverse Mortgage Specialist for specific details.

HECM- Home Equity Conversion Mortgage) We pronounce it "Heckum"

    • FHA defines "HECM for Purchase" as a real estate purchase where title to the property is transferred to the HECM borrower, which the borrower will occupy as a principal residence, and, at the time of closing, the HECM first and second liens will be the only liens against the property.

Lakeside Condos are now FHA Approved!

Ask your Realtor about using an FHA Insured Reverse Mortgage to purchase your new Sun Lakes home!



By Deborah Nance

Your Local Southern California Reverse Mortgage Professional

How Much Do You Qualify For?

Click the Learn More Button below to email me a question.



Active rain
Five Smart Investments for selling your place
Samuel Silver (Keller Williams VIP Properties)

Create space and light.
People buy places that have space and light. Even if you don't have much of it, you can create the illusion of having it with a few small investments. One quick affordable way to create a "light" and airy feel is to apply fresh, neutral paint on the walls in every room. This will make your  space look and smell great!

To create the feel of "spaciousness," even in a small space, make sure you remove anything from the floor that isn't a piece of furniture. Whether you get a storage facility, donate items to charity or ask a friend for help storing boxes, get "non-furniture items" off of the floor and out of the living space!

By updating paint on all of the walls, and removing unnecessary floor clutter, you create a light and spacious environment, which is vital to successful selling.

Invest in good windows.
Energy efficiency is very important to most buyers these days, so they are looking at exposures and windows. Insulated windows are always a plus and they typically pay for themselves within five years.

Think green and landscape.
Mature trees are worth a mint, while having outdoor spaces with pergolas, garden swings and well maintained fences and hardscape create tremendous appeal. You don't have to spend a fortune to create an inviting look with your landscape.

Plan ahead and buy small plants and trees that you know will grow quickly. It helps keep things affordable and creates a "move-in ready" feel for most buyers.

Buy or build storage options.
Whether it's built-in, free standing or attached to the ceiling in the garage, nothing beats an abundance of storage. An oversized garage can be invaluable to some buyers that lead active lifestyles. If you don't have an attached garage, carve out some attic space, create storage under stairways when possible and make the most of any closets by adding shelving upwards and downwards. If you have a two-car garage, leave extra space open for your home showings , to ensure the appearance that there is a place for everything; like those things we all have, including bicycles, mowers, snow blowers or shovels. Storage is important to most people, so a little bit will go a long way in making a positive impression.

Finish basements and add built-ins.
Finished basements look great and add value. Ten years ago, nobody cared about a finished basement but now everybody wants one. Obviously, basements are not available in all parts of the United States but where you find basements, you will discover buyers that want them finished.

In the areas of our country where basements are not an option, built in furniture is in demand! Buyers want built-in's for computers, television sets, stereos, kitchen storage and books. Nearly any type of built-in is desirable to a prospective buyer and such features provide a good return on investment for sellers.

Happy house selling & buying this holiday season and best wishes for a prosperous new year.

Active rain
Lovely Sun Lakes Condo With Pool and Guest Parking Close By Avalable For Zero Down Loan Program
Samuel Silver (Keller Williams VIP Properties)
Samuel Silver | Tarbell REALTORS | | 1(888)782-6080 Ext 7
1481 Littler Avenue, Banning, CA
Super neighborhood. Light and bright, 2 BR, 2 BA condo with cable TV, legendary gourmet kitchen and individuality.
2 Bdrm Condo
offered at $245,500
Year Built 1994
Sq Footage 1,253
Bedrooms 2
Bathrooms 2 full, 0 partial
Floors 1
Parking 2 Car garage
Lot Size 1,742 sqft
HOA/Maint $305 per month


Lovely Pebble Beach Model In Sun Lakes Country Club That Is Totally Move In Ready And Just Waiting For You. This Home Offers Extended Tile Through Out, Pergo Floor In Guest Room, Oak Kitchen Cabinets, Gas Fireplace, Two Large Bedrooms And Full Baths. Skylight In Master Bath. Sun Lakes Cc Is A 55 + Gate Guarded Golf & Tennis Community Where A House Is More Than A Home, Its A Lifestyle That Many Only Dream Of Active Adult Living In Sun Lakes Country Club. Golf Community With 3 Club Houses;restaurant;bar;several Pools & Spas;pool Tables And Activities Galore.Open Spacious Floorplan.Pergo Floor In Guest Room.Skylight In Master Bath.Tiled Floors.New Paint And Carpet.New Microwave. Lots Of Cabinets.Fruit Trees In Patio Area. Indoor Laundry Room Leading To Attached Garage. New Fan And Kitchen Cabinets Refinished. 1(888)782-6080 Ext 400

see additional photos below

Central A/C Central heat Fireplace
High/Vaulted ceiling Walk-in closet Tile floor
Family room Office/Den Dining room
Breakfast nook Dishwasher Stove/Oven
Microwave Laundry area - inside Balcony, Deck, or Patio


Garage parking Guest parking Clubhouse
Fitness center Swimming pool(s) Sauna/Spa
Tennis court(s) Golf course Lake
Gated property Secured entry


Several Fruit Trees
Breakfast Buffet Counter
Skylight in Master
Pergo Flooring in Guest Room
Cabinets lined with linoleum for ease of cleaning

Seller contact info:
Samuel Silver
1(888)782-6080 Ext 7
For sale by agent/broker

powered by postlets Equal Opportunity Housing
Posted: Oct 16, 2007, 1:45pm PDT
Active rain
JUST Reduced Lovely 2 bedroom Condo in active 55+ community
Samuel Silver (Keller Williams VIP Properties)
1481 LITTLER AVENUE, BANNING 92220 LP: $245,500

Photo Map
More PhotosVirtual Tour
ML#: I07064612
Status: Active
Bedrooms: 2
Baths: 2.00/
Built: 1994
Square Feet: 1,261
Lot Size: 1,742
TG#: 721D5
Pool: N
Spa: N
View: N
Assoc. Dues: 169/ 136
Type: Condominium/Attached
Property Description:
Active Adult Living In Sun Lakes Country Club. Golf Community With 3 Club Houses;restaurant;bar;several Pools & Spas;pool Tables And Activities Galore.Open Spacious Floorplan.Pergo Floor In Guest Room.Skylight In Master Bath.Tiled Floors.New Paint And Carpet.Lots Of Cabinets.Fruit Trees In Patio Area. Indoor Laundry Room Leading To Attached Garage.
Association Club House,Association Pool,Association Spa,Association Tennis,Cathedral Ceilings,Cc And R's,Curbs/Walks,Direct Garage Access,End Unit,Gated Community Guard,Golf Cart Garage,Guest Parking,Home Warranty Plan,Homeowners Association,Lot-Level/Flat,Senior Community,Skylights,Trees/Woods View,Turnkey
Additional Property Information
Horse Property: N Fireplace: Y Garage: 3 Yard: Y Patio: Y
Sch District: BANN Elementary:  JR:  HS:  Off Den: N
Entryway: Y Family Room: Y Lvng Room: Y Cable TV: Y Laundry: IR
Master Suite: Y Master Retreat: N Frml Din Rm: Y Wlkin Closet: Y Dress Ar: Y
Bonus Room: N Wet Bar: N Sec Sys: N Stories:  One Level TV Ant: N
RV Access: Sprinkler FS Roof Type: CONCRETE TILE



© 2007 MRMLS. Information is believed to be accurate, but should not be relied upon without verification.
Accuracy of square footage, lot size and other information is not guaranteed.

Virtual Tour Click Here

Banning, CA Real Estate Professionals
Explore ActiveRain