SHORT SALE AND FORECLOSURE BLOG

Do educate yourself. This is THE most important thing you can do.  Short sales can be complicated. You need every bit of information you can get when you jump into the short sale process. Don’t wait until it’s too late. If you drag your feet and hide from the fact that you’ve stopped making mortgage payments, it will [...]

Tags: 360 REALTY, Agents, FANNIE MAE, foreclosure, FREDDIE MAC, los angeles real estate, los angeles short sales, short sale expert, Short Sale Q&A

Due to the high home foreclosure rate in California, Rep. Jerry McNerney, D-Pleasanton, and 27 other members of Congress from California have called for President Barack Obama to immediately appoint a permanent director of the Federal Housing Finance Agency. There has been no permanent director for 2 1/2 years, which McNerney says undermines the housing [...]

Tags: 360 REALTY, California Property, foreclosures, los angeles real estate, real estate los angeles, Short Sales

Brian Beutler writes that President Obama will likely have to make more recess appointments if he wants to staff key positions, including the newly-created vacancy at the Office of Management and Budget, as Jack Lew has become White House Chief of Staff. The assumption here is that Republicans will react to recess appointments at the CFPB and [...]

Tags: 360 REALTY, BARACK OBAMA, california, credit, DEMOCRATS, ED DEMARCO, FANNIE MAE, FHFA, foreclosure, FREDDIE MAC, HARP, HOUSING, los angeles real estate, RECESS APPOINTMENTS, REPURCHASES

A short sale could fit the bill for a first-time homebuyer who has patience. In a short sale, the lender allows the home to be sold for less than the mortgage balance. As a result, prices often are affordable. On top of that, today’s mortgage interest rates are low. But short sales are complex and [...]

Tags: 360 REALTY, Buying Short Sales, los angeles short sales, real estate, real estate experts

MSNBC reports that the recent increase in short sales may be the relief that the housing market needs during its slow recovery. The number of short sales has increased by 26,000 this year following a jump in the number of foreclosures and short sales in 2010. According to the source, short sales may also be [...]

Tags: 360 REALTY, foreclosure, los angeles real estate, los angeles short sales, real estate, real estate experts, short sale expert

  Thursday State lawmakers passed SB 401 which will exempt borrowers who lost their homes to foreclosure or short sales in 2009 from paying state taxes. State officials say as much as 100,000 people statewide will be spared from paying tax they otherwise would owe. The bill extends the state ban from 2009 through the [...]

Tags: 360 REALTY, credit, los angeles short sales, short sale vs forelosure, Tax Aspects Of A Short Sale

Heavy tax burden looms for those attempting short sale   DEAR BENNY: We live in California and own a second home within five miles of our primary residence. This second home has been used as a rental, initially to persons we were not connected with in any way. For the past 10 years, two different [...]

Tags: 360 REALTY, credit, foreclosure, los angeles real estate, short sale experts, short sale questions, upside down home

  I get lots of questions on short sale either from the sellers or someone who wants to know more about short sale. Here is my top 6 seller short sale questions I get which I think is useful to mention here so that all my readers get to know the answers to these common [...]

Tags: 360 REALTY, credit, foreclosure, foreclosures, Short Sale Q&A, Short Sales

  Many people say that 2012 will be the year of the short sale. There are lots of reasons that short sale sellers might be getting off the fence and selling their homes as short sales in the coming year. First off, the Mortgage Forgiveness Debt Relief Act of 2007 is set to come to [...]

Tags: 2012 Short Sale, 360 REALTY, foreclosure, los angeles real estate, Short Sale Q&A, short sales los angeles

By all indications, it appears that 2012 will be a year with even more short sale listings … and closings than 2011. Some of the major banks have embraced the idea that short sales can be a bit more profitable than letting houses sit for months on end and then ultimately end up in foreclosure. With the [...]

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