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 to ERISA, the Employee Retirement Income Security Act. In fact, other than the IRS or former spouses, these accounts are protected from all creditors. It is never considered advisable to liquidate or borrow against your retirement savings to save your home. If you recently rolled over money from an employer-sponsored plan into an IRA, that money is protected as well. Be sure to save your account statements that show the rollover.

For more information about short sales please ask for Kristine Halverson of Prudential at 310-737-8173

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.

The FHFA has directed Fannie Mae and Freddie Mac to develop enhanced and aligned strategies for facilitating short sales, deeds-in-lieu and deeds-for-lease in order to help more homeowners avoid foreclosure.  The changes coming in June set out new timelines for actions by mortgage servicers with regard to short sales.

The new requirements require a mortgage servicer to:


1.           Acknowledge receipt of a short sale offer within 3 day business days


2.           Notify a borrower within five business days if the information packet provided by the  borrower is incomplete.


3.           Review and respond to requests for short sales within 30 calendar days from receipt of a short sale offer.


4.           Provide weekly status updates to the borrower if the short sale offer is still under review after 30 calendar days


5.           Make and communicate final decision to the borrower within 60 calendar days of receipt of the offer and complete borrower response package.

It is anticipated that additional enhancements regarding borrower eligibility and evaluation, documentation simplification, property valuation, fraud mitigation, payments to subordinate lien holders, and mortgage insurance will be out by the end of 2012.

As always, feel free to contact Kristine with any questions you may have, 310-737-8173

Neutra Troxell House, Pacific Palisades


It’s no secret this home is on the market. However,  before it was listed last year we were able to share it with you a month before it became available see the original post about the Neutra Troxell house when it was a pocket listing. It has been a over a year, and the price has been reduced $500,000. If you love Neutra, artful living, and ocean views this could be the home for you.

What is a pocket listing? Many times homeowners will have their Realtor market their home as a pocket listing.  It is a home or commercial building that is not listed publicly for sale. If you have scoured the market and still have not found a home you want to buy, ask your agent to look for pocket listings for you. We know of a few pocket listings, and are seeking more for our buyers.

If you’d like to know more about pocket listings, and how to find them; contact Kim at 310-737-8173

766 PASEO MIRAMAR, Pacific Palisades, CA 90272 (MLS # 11565909)

(all data current as of 3/27/2012)
Price $3,950,000
Beds 4
Baths 2 full, 1 half
Home size 3,044 sq ft
Lot Size 47,611 sq ft
Days on Market 139
Back on market. The Troxell House, a polished jewel, has been renovated and is a dream come true for the discriminating buyer. The four bedroom, two and a half bath post and beam structure has panoramic ocean, city and mountain views. The lap pool, which seems to float in the air, overlooks the Queens necklace. If you are a collector of fine things, an architectural buff, or a lucky person who wants to how this outstanding Richard Neutra architectural home, COME ON BY.

Property Type(s): Single Family, Residential

Last Updated 3/27/2012 Tract n/a
Year Built 1956 Community Pacific Palisades
Garage Spaces n/a County Los Angeles
Total Parking 3 Walk Score ® 52


Elementary School Marquez
Middle School Revere
High School Palisades

Additional Details

Building Size 3044 CARETS Listing Status Active
Total Floors 1 Bath Full 2
Bath Half 1 HOAFee1 0.0
Zoning LARE15 Carport Spaces Total 2
Covered Spaces Total 2 Parking Spaces Total 3
Will Consider Lease YN N Tax Parcel Number 4416019023


Appliances Dishwasher, Dryer, Freezer, Garbage Disposal, Refrigerator, Washer
Bathroom Features Powder Room
Building Structure Style Architectural (N)
Common Walls Detached/No Common Walls
Cooking Appliances Microwave, Range, Range Hood
Cooling Type Central A/C
Eating Areas Breakfast Counter / Bar, Dining Area
Fireplace Rooms Living Room
Floor Material Carpet, Other
Heating Type Central Furnace
Laundry Locations Inside
Legal Disclosures Take Property As Is (N)
Listing Terms Cash To New Loan
ListingAgreement Exclusive Right To Sell/Lease
Lot Size Source Public Records
Parking Type Carport
Patio Features Patio Open
Pool Descriptions Heated, Private Pool
Possession CloseOfEscrow
Roofing Composition
Rooms LivingRoom
Sewer In Street (N)
Spa Descriptions None
SpecialConditions Standard Sale
Square Footage Source Public Records
View Any View, City Lights View, Mountain View, Ocean View


Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Kim Halverson DRE# 01761439, Prudential CA - Santa Monica

(view all details for MLS #11560737)

For a private showing or more information about selling your home, contact Kim Halverson of Prudential California Realty: 310-737-8173

Santa Monica California Condo Short Sale! North of Wilshire – 1144 10th St

North of Wilshire condo, South of Wilshire prices.

Walking distance to Santa Monica’s best restaurants; Santa Monica Seafood, Huckleberry, and Rustic Canyon. A personal favorite place is vintage car showroom: Cars With Class.  Six blocks to Santa Monica’s famous 3rd St Promenade, and ten blocks to Palisades Park. This condo is a front facing upper unit, sharing only one common wall. It is updated, all appliances are included, and you have a patio great for soaking up sunshine and ocean breezes.

To see this condo in person or to discuss short sales in Santa Monica. Contact Kristine at 310-737-8173

1144 10TH ST, Santa Monica, CA 90403 (MLS # 12576465)

(all data current as of 3/27/2012)
Price $507,000
Beds 2
Baths 2.0 baths
Home size 1,011 sq ft
Lot Size n/a
Days on Market 68
Turn-key condo, North of Whilshire, short distance to well-known restaurants. New kitchen cabinets, travertine back splash, granite counter tops, all stainless steel appliances, and stackable washer/dryer. Skylight in dining area. Newer bathrooms, granite countertops, travertine, and much more...Lots of storage. Hampton Bay fans in bedrooms, matte stainless door handles and pulls throughout. Low HOA dues which include water and basic cable.

Property Type(s): Condominium, Residential

Last Updated 1/30/2012 Tract n/a
Year Built 1963 Community Santa Monica
Garage Spaces n/a County Los Angeles
Total Parking n/a Walk Score ® 97

Additional Details

Building Size 1011 CARETS Listing Status Back Up Offer
Units Total In Complex 10 Total Floors 0
Unit Floor In Building 2 HOAFee1 256.73
Zoning SMR3YY Covered Spaces Total 1
Will Consider Lease YN N Tax Parcel Number 4281028100


Appliances Dishwasher, Dryer, Garbage Disposal, Refrigerator, Washer
Association Amenities Controlled Access
Association Rules Call for Rules
Building Structure Style Traditional
Cooking Appliances Microwave, Range
Cooling Type Ceiling Fan(s), None
Eating Areas Breakfast Counter / Bar, Dining Area
Floor Material Carpet, Tile (N)
Heating Type Central Furnace
Laundry Locations Inside
Legal Disclosures No Property Assessments (N)
ListingAgreement Exclusive Right To Sell/Lease
Parking Type Community Garage
Pool Descriptions No Pool
Possession CloseOfEscrow
Rooms LivingRoom
Security Safety Gated Community
SpecialConditions Short Pay Subject to Lender
Square Footage Source Vendor Enhanced (N)
View No View


Listing information deemed reliable but not guaranteed. Read full disclaimer.

Listed with Winston Cenac DRE# 01524947, Bulldog Realtors, Inc.

(view all details for MLS #11533615)

Search more properties in Venice, CA or call Kristine at 310-737-8173 for more assistance.

Rare Find: Santa Monica Historical Home on Georgina

Sold! The first buyer wrote an offer without seeing the home, and this creates an opportunity for a lucky buyer to own this home. 147 Georgina, Santa Monica CA 9402 is located in the highly sought after North of Montana neighborhood (see below for full property details.) Georgina is a wide street lined with palm trees, and this block is a short walk to popular Palisades Park overlooking the Santa Monica Bay.

Rarely do homes come available on this block, especially a historical home. The current owner has taken very good care of this home’s  renovations, so well the home was featured in Home & Garden magazine. One of the benefits of owning a historical home in Santa Monica is the Mills Act. The Mills Act is a special reduction in property taxes to offset the costs for any renovations to preserve the Historical Landmark. The City of Santa Monica has a Landmark Division to help oversee the renovations. According to several city historians, the exterior must be maintained if any changes occur, and application for a Certificate of Appropriateness is to be submitted for landmark review.

When viewing this home, you’ll be amazed by the large lot. The home is located toward the front of the parcel. The lot is so large you would never know there is a half-pipe is in the back for skateboarders. A few of my favorite features of the home, in addition to the location, was the houndstooth mosaic bathroom tile. A refreshing update to see in a historical home.








To schedule a private showing of this historical  home, contact Kim at 310-737-8173

We're sorry, but we couldn't find MLS # 11523613 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Find more homes in Santa Monica’s North of Montana neighborhood.

Santa Monica’s Sunset Park, Eco-Friendly Home

Sold to first-time home buyers. For more information on buying and selling a home contact Kim at 310-737-8173.

Why live in a condo when you can have a home with a yard?  Here is your opportunity to own a home in Santa Monica. Formerly a one way street, in a few short week this street with be a cul-de-sac. A rare find in Santa Monica!

We're sorry, but we couldn't find MLS # 11527089 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Mar Vista Home with a Large Lot!

A fantastic street-to-street large lot in Mar Vista. Perched above Victoria Avenue, with mountain views, your traditional home awaits.
Sit on your front porch, and watch the day go by. Barbecue on the patio of your huge backyard! Inside your living and dining space are perfect for entertaining. Great light, and roomy bedrooms. Perfect as it is or with such a huge lot your opportunities are endless; add-on, build a guest house, pool, or koi pond. The choice is yours, decide soon before someone else does.
Neighbors have split their lot and developed newer homes. This is truly a rare find for a buyer desiring privacy, opportunity, and location.

Virtual Tour

Rare Street-to-Street Lot in Mar Vista

We're sorry, but we couldn't find MLS # 11522307 in our database. This property may be a new listing or possibly taken off the market. Please check back again.