Short Sale Blog

House Bill Would Force Lenders to Decide on Short Sales in 45 Days

by jasonimprota September 28, 2010 Latest News

House Bill Would Force Lenders to Decide on Short Sales in 45 Days
09/17/2010 By: Carrie Bay

Distressed homeowners looking for a way out of their mortgage that doesn’t involve foreclosure may find relief is on the way from a new bill introduced in the U.S. House.

The legislation would impose a deadline on lenders to respond …

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Hang in there!

by jasonimprota September 3, 2010 Calabasas Blog

Calabasas Homes & Santa Monica Homes for Sale

Have you been searching for a home and getting frustrated? Are you tired, feeling helpless and almost over it entirely? One of the most important things you can do in a confusing and quick changing market like the one we are in today is to work with the …

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Tax Consequences of a “Short Sale” of Real Estate vs. Foreclosure

by jasonimprota July 7, 2010 Latest News

This is part of an article written by Michael C. Gray, CPA in April, 2010 discussing the tax consequences of a “short sale” vs. a foreclosure.

Our nation is now seeing the effects of tightening mortgage credit after a liberal period. With increases in interest rates for adjustable rate mortgages and the conversion to amortization of …

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Thumbnail image for Calabasas Short Sales – Active or Looking for Back-up

Calabasas Short Sales – Active or Looking for Back-up

by jasonimprota May 18, 2010 Calabasas Blog

The map above indicates short sales that are either active or looking for back-up (and for short sales that is not necessarily a bad thing) that are on the market right now in Calabasas. There are 10 active and 25 that are looking for back-up which in most cases means that a buyer has written …

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Thumbnail image for Fannie Updates Policies for Loan Eligibility After a Pre-Foreclosure Event

Fannie Updates Policies for Loan Eligibility After a Pre-Foreclosure Event

by jasonimprota April 19, 2010 Calabasas Blog

DSNEW.COM – By: Brittany Dunn:  In an effort to support overall market stability and reinforce the importance of borrowers working with their servicers when they have difficulty repaying their

debt, Fannie Mae has updated several policies regarding borrowers’ future eligibility to obtain a new mortgage loan after experiencing a pre-foreclosure event, including a deed-in-lieu of foreclosure, …

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Foreclosure Alternatives Plan to Help Home Short Sales: Video

by jasonimprota April 5, 2010 Latest News

Bloomberg’s Monica Bertran reports on the government’s new Home Affordable Foreclosure Alternatives program, which encourages lenders to allow more homeowners facing foreclosures to sell their property for less than they owe on their mortgage. (Source: Bloomberg)

Calabasas & Santa Monica Homes & Real Estate for Sale

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California Home Prices Head Higher

by jasonimprota April 2, 2010 Calabasas Blog

Demand for Costlier Properties Grows, but Total Sales Fell in February for the Second Straight Month

The California housing market is showing more signs of stabilization—at least for now—as sales of bank-owned and bargain-basement homes in inland areas partially give way to sales of costlier homes toward the coast, according to a new report.

California’s median home …

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Calabasas Home Sales Statistics

by jasonimprota March 29, 2010 Calabasas Blog

Here are the current stats for Calabasas Homes For Sale.

There are currently 178 homes and condos active on the MLS for sale.

There are currently 87 homes and condos in escrow on the MLS.

There are 66 sold homes and condos in Calabasas since the beginning …

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Bank of America to Reduce Mortgage Principal for Some Borrowers

by jasonimprota March 25, 2010 Calabasas Blog

Amid increasing government pressure to stem foreclosures, Bank of America Corp. said Wednesday that it would offer to erase as much as $3 billion in principal owed by thousands of severely delinquent borrowers who owe more than their homes are worth.

The bank’s plan is by far the most ambitious and systematic effort by a major …

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Short Sale – Bank Approval But What About Deliquent HOA Dues?

by jasonimprota March 21, 2010 Calabasas Blog

So picture this. The owner of a condo unit who is attempting a short sale owes the home owner’s associated many months worth of dues, say around $8000. The owner’s lender has approved the short sale (where it will accept less than full payment to satisfy the mortgage). The bank has even offered to pay …

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