Considering a Short Sale? What To Expect From the Bank

Considering a Short Sale? What To Expect From the Bank If you are considering a short sale on your home in Santa Monica, and anywhere else, you must receive bank approval to move forward with any buyer for your home. The bank will be taking a loss, and prior to approving a short sale will request […]

 

I’m Doing A Short Sale, Can My Lender Take My Retirement?

I’m Doing A Short Sale, Can My Lender Take My Retirement? One of the top questions we get asked is what happens to the retirement accounts when doing a short sale? Here is the info: 401ks, 403bs and Pensions Your lender is not permitted to “raid” or liquidate employer-sponsored 401k, 403b or pension plans thanks […]

 

Top Question Asked When Buying A Short Sale, Who Pays For Closing Costs?

Buyers and sellers want to know who pays the closing costs in a short sale? As a buyer you want to ask your agent this question before you write an offer. The best time to ask it is during your first meeting. In a short sale all terms, conditions and closing costs are subject to […]

 

California Foreclosure Timeline, Yes, Santa Monica Applies

In California, lenders who intend to foreclose on a property when the loan is delinquent typically use the nonjudicial foreclosure process also known as a trustee’s sale.  This process is less expensive for the lender than the judicial foreclosure process.  A nonjudicial foreclosure doesn’t require a court proceeding and, thus, is a more expeditious process.  […]

 

How Can a California Short Sale Specialist Help Troubled Homeowners?

How Can a California Short Sale Specialist Help Troubled Homeowners? Even with moving assistance and financial aid packages starting to pour in from banks, there are still hundreds or even thousands of homeowners who won’t qualify for such help and are thus in dire need of the services of a Santa Monica short sale specialist. […]

 

Short Sales in Santa Monica, More Streamlined?

Short Sales in Santa Monica, More Streamlined? In April of this year, the Federal Housing Finance Agency (FHFA) set out new guidelines to Fannie Mae and Freddie Mac in order to streamline short sales in the hopes of helping borrowers and communities hard hit by the housing market decline.  These guidelines take effect in June. […]

 

Are Homeowners Relived Of All Debt Obligations When Doing A Short Sale, Series 8

On March 8, 2012, in Uncategorized, by Kim & Kristine Halverson Realtors® Santa Monica Real Estate, CA (Prudential CA Realty, Santa Monica Real Estate :) )

If your home is considered residential 1-4 units, then yes, according to CAR legal series you are relieved of debt obligations. However, be aware, that there are many changes happening on the local and national level each month. They are in favor of th…

 

VIDEO: what is a short sale?

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VIDEO: what is a short sale?

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STOP PAYING YOUR MORTGAGE? – FANNIE MAE SAYS YES!

On March 4, 2012, in Uncategorized, by Kim & Kristine Halverson Realtors® Santa Monica Real Estate, CA (Prudential CA Realty, Santa Monica Real Estate :) )

Stop paying your mortgage in Santa Monica?
It must be your decision, and be sure to find out if your lender will consider a short sale on your home in Santa Monica prior to. Consult with your Realtor, call your lender, and an attorney. Another good per…