Beverly Hills Foreclosures

August 19, 2011 by  
Filed under Beverly Hills Foreclosures

Beverly Hills Foreclosures

By: Joshua C Anderson

Published: Friday, 19 Aug 2011

Afshar Properties Chief Correspondent

Yes, you read correctly, foreclosures in the most affluent of communities. It’s no longer an uncommon sighting to see short sales or even foreclosures in these areas. Beverly Hills is only the tip of the iceberg. Areas like Laguna Beach, La Jolla and even Hollywood Hills are experiencing the same issues. Some foreclosures are in the $25 million range and some are even larger. What many of these foreclosed home owners failed to realize was that they could have avoided the stiff ramifications by opting to short sale. Recent studies have shown that lenders are approving short sales of that magnitude.

Housing assist of America, a short sale firm has teamed up with Coldwell Banker in Beverly Hills and has several active short sales well over a million dollars. The result is amazing for the homeowner; some have even had tax liens paid off. No two short sales are alike, however Housing Assist has an iron clad system that’s has so far proven effective for even the most bizarre of circumstances. The majority of their clients have been through the motions of the modification so they know that the short sale is really the last option. “When I short sold through Housing Assist, I definitely had piece of mind and was kept in the loop throughout the entire process”, said a former client of theirs.

2012 will without a doubt be the biggest year for short sales since they became popular a few years ago. When they started out they took nearly a year to complete, now they lenders have streamlined there process and they are now being completed with 90 days. In addition to the fast track programs, lenders have many incentives for sellers and want the listing to close as much they do.

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