Foreclosure Can’t Kill Christmas Spirit

Every year around the holidays, Orange County residents make sure to stop by Jim Jordan’s home, a modest house in Costa Mesa, California.  For forty years, Jordan has been converting his house into a Christmas wonderland every December, and tens of thousands of people have show their appreciation in admiration of Jordan’s holiday cheer. 

Jordan claims that he’d have 80,000 visitors every December, all wanting to catch a glimpse of his giant Santa and nearly 200 foot stretch of Christmas characters.  But earlier this year, Jordan’s house was lost to foreclosure, and the Costa Mesa tradition seemed to be lost forever.

Costa Mesa city officials, however, offered to host Jordan’s display outside the City Hall.  They have even offered to include Santa’s village and a holly jolly St. Nick himself.  Costa Mesa residents, and Jordan himself, are thrilled the tradition remains alive.  Though foreclosure took his home, it couldn’t take Jordan’s holiday spirit. 

Sherman Oaks Short Sales

September 6, 2011 by  
Filed under Blog, Sherman Oaks Short Sales

Sherman Oaks Short Sales

If paying your mortgage is a financial burden and you owe more on your property than what it’s worth, a short sale might be the answer.  Foreclosing on your property could leave you with horrible credit and your neighborhood with a decreasing property value.  In a short sale, a lender or bank will accept less than what’s owed on the house.  Lenders are open to short sales because it’s easier to cut their losses and not deal with the difficulties of the foreclosure process than to try to collect from a homeowner who doesn’t have the money they owe.  More and more short sale transactions are occurring, as homeowners are trying to climb out of debt

Tough economic times have certainly had their affect on the housing market.  Even in upscale neighborhoods like Beverly Hills and Westwood, properties have decreased significantly.  As the values of property declines, homeowners who don’t own their houses are paying high ticket mortgages that will continue to rise.  In many cases, homeowners will owe more than what their house is now worth.

If you owe more on your property than what it’s worth, and you live in Sherman Oaks, Tarzana, Encino, Studio City, or Reseda, contact Housing Assist of America for further information on the short sale process.  Housing Assist of America has helped more than two hundred homeowners conduct a short sale of their home, and they can certainly help you if you are trying to alleviate yourself of the pressures of debt.  Housing Assist of America has helped dozens of valley homeowners move their properties.


Underwater On Your Santa Monica Property? Consider a Short Sale

Underwater On Your Santa Monica Property?  Consider a Short Sale

Tough economic times have certainly had their affect on the housing market.  Even in upscale neighborhoods like Malibu and Santa Monica, properties have decreased significantly in value.  As the values of these house decline, homeowners who don’t own their houses outright are paying high priced mortgages that will continue to increase.  In many cases, homeowners will owe more than what their house is now worth.

A short sale should be your first thought if owe more on your property than what it’s worth and paying your mortgage is a financial burden.  If your decide to foreclose on your property, you could be left with horrible credit.  If you decide on a short sale, you could wipe out your debt and start fresh.  In a short sale, a lender or bank will accept less than what’s owed on the property.  Lenders agree to short sales because cutting their losses and not dealing with the difficulties of the foreclosure process is a better than collecting form a homeowner who doesn’t ht money they owe.  More and more of these transactions are happening, as homeowners hope to climb out of debt

If you owe more on you Santa Monica property than what’s it’s worth, and you are trying to alleviate yourself of the pressures of debt, contact Housing Assist of America for further information on the short sale process.  Housing Assist of America has helped more than two hundred homeowners conduct a short sale of their home.

Owe More Than What Your Westwood Home is Worth? Think Short Sale.

Owe More Than What Your Westwood Home is Worth?  Think Short Sale.

A short sale should be your first thought if you owe more on your property than what it’s worth and paying your mortgage is a financial burden.  After all, foreclosing on your property could leave you with horrible credit.  In a short sale, a lender or bank will accept less than what’s owed on the house.  Lenders agree to short sales because cutting their losses and not dealing with the difficulties of the foreclosure process is easier than collecting from a homeowner who doesn’t have the money they owe.  If you choose a short sale, you could start fresh while wiping out your debt.   More and more of these transactions are happening, as homeowners are trying to climb out of debt

Tough economic times have certainly had their affect on the housing market.  Even in upscale neighborhoods like Beverly Hills and Westwood, properties have decreased significantly.  As the values of property declines, homeowners who don’t own their houses are paying high ticket mortgages that will continue to rise.  In many cases, homeowners will owe more than what their house is now worth.

If you owe more on you Westwood property than what’s it’s worth, contact Housing Assist of America for further information on the short sale process.  Housing Assist of America has helped more than two hundred homeowners conduct a short sale of their home, and they can certainly help you if you are trying to alleviate yourself of the pressures of debt.

Considering a Short Sale of Your Los Angeles Property?

Considering a Short Sale of Your Los Angeles Property?

Over the past few years, as the economy has slumped, so has the housing market.  Even in upscale neighborhoods like Beverly Hills, properties are no longer worth what they once were.  As property values are declining, homeowners who don’t own their houses outright are paying high priced mortgages that continues to increase.  In some cases, homeowners will owe more than what their property is worth.  These houses are referred to as‘underwater’.

When you owe more on your property than what it’s worth, and paying your mortgage is a financial burden, you should consider a short sale above any other solution.  Foreclosing on your property will leave you with horrible credit while a short sale will alleviate your debt and give you a fresh start.  In a short sale, a lender or bank will accept less than what’s owed.  Lenders agree to short sales because they find that cutting their losses and not dealing with the difficulties of the foreclosure process is a better than collecting form a party who doesn’t have what they owe.  Data shows that lenders are approving more and more of these transactions.

If your Los Angeles property is underwater and you are trying to alleviate yourself of the pressures of debt, contact Housing Assist of America for further information on the short sale process.  Housing Assist of America helped more than two hundred homeowners with a short sale of their home.  

California Home Sales Drop

August 18, 2011 by  
Filed under California Home Sales Drop

California Home Sales Drop

In July, California home sales fells to their lowest level in 16 years.  Economic turmoil is certainly keeping buyers away from purchasing properties, as July say an 11 percent decline from property sales in June.

Financial analysts are claiming that the political drama regarding the debt ceiling has much to do with buyer’s concern over purchasing new properties.  With concern over the nation underwater in debt, buyers are showing more trepidation than ever.

July saw almost 35 percent of resale homes as foreclosures, and almost 18 percent sold in short sales.  Serious buyers should definitely consider the idea of a short sale.  When an homeowner is underwater on his mortgage, a lender might consider allowing the owner to sell his property for less than what’s owed.  In these cases, buyers can find dream deals on properties that are worth more than the asking price.


Top Options for Upside-down Mortgage Holders

Top Options for Upside-down Mortgage Holders

Tons of homeowners are underwater on their mortgages and looking for ways to dispose of these properties.  Of course, because the mortgage of these properties exceeds the current property value, these homeowners are in quite a bind.

In these situations, homeowners will likely ‘default’ on the property.  Homeowners will strategically default on their homes when the mortgage exceeds the property value in combination with the neighborhood beginning to decline.  There are a few ways to dispose of your property without making a full payment to the bank.

Homeowners can choose loan modification, and restructure the term’s of the borrower’s loan.  This option however does not make for any principal reductions in payments.  A deed in lieu of foreclosure occurs when the homeowner, with the bank’s consent, deeds a property back to the lender, instead of foreclosing altogether.  Foreclosure is another option.  This of course, occurs when a lender takes the property back from the delinquent homeowner.

The best option, however, might be a short sale.  Short sales occur when a homeowner sells the property for less then when he owes.  Homeowners must get the bank’s consent before the sale, as well as word that they will forgive the deficiency on the sale.  Short sales are a great option because there’s less paperwork, less hassle, and nobody needs to declare bankruptcy or take the time and energy to foreclose.



Foreclosure decrease indicates unpromising future for the market

Foreclosure decrease indicates unpromising future for the market

In the first half of this year, foreclosure files have decreased both locally and nationally, but this doesn’t necessarily mean that the market is recovering. Across the country from January to June, foreclosures decreased 30%. The number of foreclosures was the lowest in the second season of this year since the end of 2007.

However, such a drop in foreclosures doesn’t necessarily indicate a better economic situation. It does, however, speak about the prolonged process of foreclosure. In fact, as a result of the delayed process of foreclosure, most foreclosure actions that should be done this year, may be postponed to next year 2012, which means we still need to worry about the future of the housing market.

It is suspected that such a drop in foreclosures resulted from a joint effort of banks in holding back their progress. The “shadow market”, in which vacant properties owned by banks have not been listed for sale, grew a year ago, and some companies even rushed to deceptive foreclosures. However, such holding back caused by bank-imposed moratoriums seems to be ended now, and now, banks are holding back because of the expiration of government’s homebuyer tax credit.

If you have more questions about foreclosure and short sales, please contact Housing Assistant of America, http://www.housingassist.com/, 1-888-877- 0078.


How To Conduct A Short Sale Of Your Home

April 7, 2011 by  
Filed under Short Sale/Loan Modification Blog

How To Conduct A Short Sale Of Your Home

If you are thinking about foreclosing on your home, you should consider doing a short sale first.  Filing for bankruptcy not only destroys credit, but let’s be honest here, it carries with it a certain stigma that is somewhat shameful.   Regardless, many feel this is the only option if upside down on mortgage payments.  But there actually is another option: a better option.

A short sale is an agreement between the lender and the borrower in which the lender agrees to accept half the total amount do.  Lenders will complete short sales for a few reasons.  First off, they will no longer have to chase borrowers for payment.  Second, they will avoid the costs and troubles of foreclosing on the property.  Though some lenders will not consider a short sale, borrowers should definitely inquire before agreeing to foreclose.

If a short sale sounds right for you, the first thing you must do is contact the lender and suggest the idea.  If he agrees, call a real estate lawyer and inquire about the legal ramifications of following through with the short sale.  Finally, reach out to an accountant and ask about possible short sale taxes.  So before you even consider foreclosing, make sure to question the lender about a short sale.  You’ll save yourself time, money, bad credit, and a heck of a headache.

Considering Foreclosure? Don’t!

March 17, 2011 by  
Filed under Short Sale/Loan Modification Blog

Considering Foreclosure?  Don’t!

The market is on it’s knees, and a ton of us are upside on our mortgages, dealing with negative equity, and plain and simple, living in financial hell.  Foreclosure might seem like a likely option, but before ruining your credit, you might want to consider a short sale: A short sale is a sale of a property in which the proceeds fall short of the total owed.  Short sales save lenders time and effort in trying to collect finances that the homeowner simply doesn’t have.  Sure the lender takes a loss, but everybody avoids foreclosure, which involves hefty fees, load of time, and bad credit for the homeowner.

http://static.howstuffworks.com/gif/rent-to-own-3.jpg

HAMP, the federal Home Affordable Modification Program is making it possible for those upside on their mortgages to engage in short sales or deeds in lieu of foreclosure.  So before you foreclose on your property, consider a short sale.  After all, you’ll want to shop around in the housing market sometime in the future, and shopping with bad credit is never easy.  Now short sales don’t always pan out, but if you’re having trouble making payments on your mortgage, you have nothing to lose in trying before foreclosing on your property.  So go short, and consider a short sale.

Next Page »

Housing Assist Coldwellbanker