Orange County Short Sales : Can A Short Sale Save My Credit & Do I Qualify My last article I explained why a bank would want to do a short sale and would a short sale save your home. In today's article I will explain whether or not a short sale can save your credit, as well as what it takes to qualify for a short sale. When I get asked if a short sale can save some ones credit, my answer is yes and my answer is no. Sounds confusing..... I will explain why. By the time a person has entered and completed the short sale process they have already missed a few mortgage payments and have had a N.O.D. (Notice Of Default) filed against them. With that said, those two items already damage your credit to a certain extent. But but but, if someone decides not to go through with a short sale or can't do one and the foreclosure process continues, then it would be far worse than a few missed payments. A short sale and a foreclosure differ when it comes to a credit report in the following way: a short sale (once completed) will show that specific debt or trade line as PAID and will cancel anything that has to do with a foreclosure. A foreclosure, once process is complete and the homeowner is evicted, remains on a credit report for 7-10 years. Which means it will be very difficult for a foreclosed homeowner to acquire any sort of credit in the future. Whether it is a credit card, auto loan, or another mortgage, it will not be easy. A short sale can help avoid this and actually help make you credit better. For a short sale to work and for the process to be a success the following basic qualifications need to be present: *Property in foreclosure or default *Personal financial hardship *Little or no equity in the property *At least 60 days until eviction date If any of these items above are your current situation then a short sale could be possible for you. p>
Orange County Short Sales : Can A Short Sale Save My Credit & Do I Qualify
0 comments • Fred Sed Orange County Real Estate • February 06 2009 01:02PMSAN CLEMENTE FORECLOSURE UNDER $190,000! SHORT SALE, PRE-CLOSURE
Beautiful & Affordable San Clemente Home!
 | $189,999 Location: 1046 Calle Del Cerro 419 San Clemente, CA 92672 | Condominium 1 Bedroom 1 Bathroom Interior: 680 sqft |
Description
Drive in the beautiful tract of Vista Pacifica and into your own garage or into your own assigned space. As you stroll down the walkway to your home, you pass the large pool with a waterfall made for the forest. Then you enter your property which is on the ground level with no steps and into your living room. Newer carpet & paint have recently been added along with custom plantation shutters to allow just a little extra privacy. You can walk into your own private patio or go into the breakfast nook, both which cater to your needs. If your hungry, just go in the kitchen, which includes all the appliances, and make something to eat. Then when your tired you can go through your large bedroom and into your bathroom and relax in your own Jacuzzi tub. Did I mention that you have your own laundry. Come see this home to get the best experience.
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Features
- Condominium
- *Light, Bright, & Open
- *All appliances included
- *1 Car garage
- *Upgraded bathroom w/ jacuzzi tub
- *Much, Much More!
Listed by
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Fred Sed Phone: (949) 274-3733 Listing agent/broker: Fairview Realty |
0 comments • Fred Sed Orange County Real Estate • February 06 2009 01:00PMANAHEIM BANK OWNED DEAL!! UNDER $250,000!!
Bank Owned Deal!
 | $269,900 Location: 1414 W La Palma Ave Anaheim, CA 92801 | Single Family Home 3 Bedrooms 2 Bathrooms Interior: 1078 sqft Lot: 6,000 sqft |
Description
Bank Owned. Light and bright home with newer birch kitchen cabinets and large neutral tile. Scraped Ceilings. Alley access with RV space. The perfect home for extra cars and other toys. Close to Anaheim Plaza shops and restaurants.
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Listed by
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Fred Sed Phone: (949) 274-3733 Listing agent/broker: Fairview Realty |
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:59PMSHORT SALE IN THE BEAUTIFUL SYCAMORE CREEK!! OVER 2,400 SQFT!
Beautiful Detached Home w/ Many Upgrades
 | $327,000 Location: 25249 Poplar Ct Corona, CA 92883 | Single Family Home 4 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 2437 sqft Lot: 5,702 sqft |
Description
| This beautiful Sycamore Creek home located on a quiet private cul-de-sac street, boasts 4 large bedrooms, 3 1/2 bathrooms, an upgraded open kitchen, spacious family room, wrought iron staircase, and an amazing backyard which includes a built-in BBQ, fire pit, and fountain. Upgraded features include: newer upgraded tile & carpet, custom window coverings throughout, newer stone counter tops in kitchen and bathrooms, dark wood cabinetry throughout, custom made window draperies, and a 6 jet Jacuzzi tub in the master bathroom. This home is light, bright, with an open floor plan suited for even the most discriminating buyers. |
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Features
- Single Family Home
- *Cul-De-Sac Location
- *Granite Countertops
- *Rod Iron Stairway
- *Built In BBQ
- *Built In Fire Pit
- *Custom Flooring
- *Much, Much More!
Listed by
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Fred Sed Phone: (949) 274-3733 Listing agent/broker: Keller Williams |
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:57PMCYPRESS SHORT SALE FORECLOSURE! 1,800 SQFT CYPRESS HOME W/ PRIVATE POOL!!
Gorgeous Cypress Home w/ Private Pool & Koi Pond
 | $534,000 Location: 5882 Newman St Cypress, CA 90630 | Single Family Home 4 Bedrooms 2 Bathrooms 1 Partial Bathroom Interior: 1805 sqft Lot: 6,000 sqft |
Description
Welcome to your new home filled with nothing but love & emotion. As you pull into your driveway and notice all of the wonderful landscaping that has been done, you decide to go inside. You enter through the newer front door and into the living room. There you see the newer flooring and custom baseboard, along with the custom paint. Through the doorway and into the kitchen you notice all of the beautiful granite , newer cabinetry, and stainless steel appliances. Not to mention the recessed lighting. Then you walk into the dining area where you can see that there is more than enough space for your set up. If you want tranquility, then just walk out into your backyard and enjoy your own custom built Koi Pond. Or you can take a dip in your own private pool, the decision is yours. Once you go up the stairs you enter the master bedroom which has its own retreat. Or you can go into any of the other 3 secondary bedrooms, one in which has its own balcony. Come take a tour!
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Features
- Single Family Home
- *Beautiful Landscaping
- *Unbeleivable Kitchen which includes granite all around & stainless steel appliances
- *Private Pool
- *Custom made Koi Pond
- *Upgraded flooring
- *Much, Much More!
Listed by
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Fred Sed Phone: (949) 274-3733 Listing agent/broker: Keller Williams |
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:55PMOrange County Foreclosure Short Sales: Who owns the homes after a Short Sale & What happens to the property taxes?
Orange County Real Estate: Who owns the homes after a Short Sale & What happens to the property taxes? A short sale is treated just like a conventional/traditional sale. The property is first placed on market for the public to see. Then the search begins for a qualified buyer and once that buyer has placed an offer to purchase the home and it is accepted the escrow is opened. Once the escrow process is underway, the necessary inspections are done, and the buyer's loan is preparing to fund and be complete. Once the escrow closes, the new buyers name is recorded as the new owner of the property and possession is transferred. After the short sale is complete the new buyer becomes the owner of the property in question. At this time the previous owner moves on to a different property and there mortgage is paid off. Short sales compare to traditional sales in many ways and property taxes are one of them. People always wonder what homeowners are supposed to do with their property taxes if they want to sell their home, short sale or traditional. If you have already paid your property taxes up to a certain date and your property sells and transfers possession before that date comes around, then you are in good shape. In this scenario the seller or homeowner is only responsible for the taxes of the property until the very day they are the owners and have possession. From then on forward the responsibility transfers over to the buyer. But if you are late on your property taxes and have not paid them, then we must know about this. Both in a short sale and traditional sale situation. In this case this would affect the short sale negotiation process so being informed on this matter is very important. Today we have discussed who owns a home after a short sale is complete and what happens to property taxes with a short sale.
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:50PMWHAT A GREAT GREAT INVESTMENT!! NOT A SHORT SALE OR FORECLOSURE!
An Investors Jackpot!
 | $1,400,000 Location: 1515 Taber St. Corona, CA 92881 | Lots and Lands 5 Bedrooms 2 Bathrooms Interior: 3500 sqft Lot: 111,000 sqft |
Description
| ***PRICE JUST REDUCED, OWNER IS MOTIVATED***2 FOR 1 DEAL!! A TOTAL OF 2.56 ACRES OR 111,513 SQFT, WHICH CONSISTS OF TWO PARCELS. THE FIRST IS THE ESTATE RESIDENTIAL PARCEL AT 1.08 ACRES WITH AN EXISTING 2,500SQFT RANCH HOUSE AND SEPARATE 2 BEDROOM GUEST HOUSE. THE SECOND IS THE COMMERCIAL PARCEL AT 1.48 ACRES WITH AN AMAZING 300 FEET OF I-15 FREEWAY FRONTAGE. IT HAS ALREADY BEEN RE-ZONED FOR A PROFESSIONAL MEDICAL AND/OR OFFICE WITH AN APPROVED PRECISE SITE PLAN FOR CONSTRUCTION OF A 24,000SQFT PROFESSIONAL OFFICE BUILDING. BOTH PARCELS WILL BE SOLD AS ONE. IT IS EXTREMELY RARE TO FIND THIS KIND OF A DEAL. IT IS A MUST SEE!! |
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Listed by
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Fred Sed Phone: (949) 274-3733 Listing agent/broker: Keller Williams |
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:48PMOrange County Foreclosure Short Sale Expert Realtor , Foreclosure Prevention Specialist , Loan Modification or Short Sale
Can I Short Sale My Own Home?
Short selling your own home is a question that comes up quite often. The answer to this would be NO, this would be illegal. Neither the homeowner themselves or a friend or family member can short sale the property. A short sale must be an Arms Length Transaction, which means exactly what I have stated above. No one who is involved with the defaulted owner can assist them in the short sale process.
A short sale is when a bank or mortgage lender agrees to decrease the balance of the mortgage amount that is due, in order for a short sale to work and be successful. They would only agree to this process if the homeowner has a legitimate financial hardship. The bank or mortgage lender does not want the homeowner to profit in anyway and by a friend, family member, or themselves conducting this process, they feel that a profit would be involved.
If a short sale has begun and the process is under review, and if the bank finds any evidence that this is not an arms length transaction, then they would stop this process and would not allow this homeowner to short sale there home. Meaning that they would have lost there only chance to avoid foreclosure.
Another question about short sales is whether or not a defaulted homeowner can go down to there local banks branch or mortgage lenders office and talk to them about reducing there balance. Unfortunately, things don't work that way anymore in the banking business. Once you obtain a mortgage, it typically gets bundled with other mortgages and sold to other banks or investors.
Oftentimes, the company to which you make your payments is not even the bank who holds your mortgage; they are simply paid to "service" the loan. Also, once you mortgage lender begins the foreclosure process, the file is turned over to a loss mitigation company so the "lending" departments or the branch no longer have anything to do with the loan.
All negotiations of a short sale are done by me (your broker) and my short sale negotiation company. We deal directly with the specific banks loss mitigation company.
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:46PMLAGUNA BEACH RENTALS & HOMES FOR LEASE , GORGEOUS PLACE TO LIVE
Is Laguna Beach Your Next Place Of Residence?
If your answer is yes then this is where you want to be and we offer our services for free! Our job is to find qualified tenants to occupy these properties! *
There is no cost to you as the potential tenant/renter, which means our services to you would be free. Our fees are paid for by the owner/landlord of the properties. For additional information, questions, or if you would like to set up a time to preview any property please contact Fred Sed with Fairview Realty at 949-274-3733.
(To reference a property, use the MLS # that is located next to the pictures. It is in bold and it starts with a letter then a series of numbers)
RENTAL PROPERTIES IN LAGUNA BEACH, LAGUNA BEACH LEASES
CONTACT FRED SED 949-274-3733 FOR ADDITIONAL INFORMATION OR TO SCHEDULE A SHOWING!
*Subject to credit check fee of $15.00 per person over 18.
1 comment • Fred Sed Orange County Real Estate • February 06 2009 12:45PMDO YOU NEED TO FIND A QUALIFIED TENANT TO RENT YOUR PROPERTY?
DO YOU NEED TO RENT OR LEASE YOU PROPERTY TODAY?
IF SO, FRED SEDOF THE PAHUA GROUP CAN SERVICES ALL OF YOUR NEEDS!
949-274-3733
SOME OF OUR SERVICES INCLUDE BUT NOT LIMITED TO:
- COMPLETE SCREENING PROCESS OF A PROSPECTIVE TENANT
- SCREENING PROCESS INCLUDES: CREDIT CHECK, INCOME & EMPLOYMENT VERIFICATION, PRIOR RENTAL HISTORY
- MARKETING YOUR PROPERTY IN ALL AREAS WHERE A PROSPECTIVE TENANT MIGHT SEARCH
- ASSISTING YOU TO BRING THE PROPERTY UP TO MOVE-IN CONDITION BY GIVING YOU A LIST OF OUR PARTNERS SUCH AS: PAINTER, CARPET CLEANER, CLEANING SERVICE, HANDYMAN, ETC.....
- SUPPLYING AND MONITORING OF ALL LEGAL DOCUMENTATION FROM AN APPLICATION TO THE LEASE AGREEMENT.
WE PROVIDE A LEVEL OF SERVICE THAT YOU DESERVE
OUR CLIENT CARE IS THE BEST AROUND
WE LOOK OUT FOR YOUR BEST INTEREST
IT'S NOT ABOUT HOW FAST WE CAN PROVIDE A TENANT, IT'S ABOUT HOW GOOD OF A TENANT WE CAN PROVIDE
IF THIS IS THE TYPE OF SERVICE YOU ARE LOOKING FOR THEN CONTACT FRED SED TODAY AND EXPERIENCE WHAT YOU DESERVE
FRED SED
SALES MANAGER
THE PAHUA GROUP
949-274-3733
0 comments • Fred Sed Orange County Real Estate • February 06 2009 12:43PMContent © 2009 'Frequent Contributors'. Design © 2009 ActiveRain Corp.
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