Are There Still San Diego Short Sales & Foreclosures?

Question: “Are there still any short sales and foreclosures? I don’t see them anymore.” Answer: Remember 2008-2011 when it was so rare to see a home offered that was NOT a short sale or foreclosure that we referred to them as “traditional sales”? In many neighborhoods (Eastlake, Spring Valley, etc.), if your life depended on
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Are San Diego Short Sales & Foreclosures Gone?

Question: “I rarely see any foreclosures or short sales any more.  Are they pretty much gone?” Answer: Almost. After the tsunami of foreclosures, the flood of short sales, and the wave of loan modifications, most people in trouble on their homes either lost them or got in a position to keep them. Throw in our
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Will Starting a Short Sale Prevent Foreclosure?

“I’m several months behind on my mortgage and need to do a short sale.  I’m afraid the bank is going to foreclose, but an agent told me that once I start a short sale the bank it’s illegal for them to foreclose.  Is that correct?” ***ANSWER: I wish it was.  You’re talking about California Senate
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Will a Bank That Turned Down a Loan Mod Approve a Short Sale?

Question: “My bank turned me down for a loan modification. Does that mean they’ll probably turn me down for a short sale too?” Answer: Good news. The answer is “no.” Short sales and loan modifications are handled by two separate departments at the bank. Their criteria for approval are different. Yes, both generally require some
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Two San Diego Short Sale Questions

Question: “I have two questions about doing a short sale. First, we have a leaky roof. Is it possible to just disclose that and sell as is? Second, what’s the cost to hire you to handle everything? We definitely want your expertise, but we’re short on money.” Answer: I’ve got good news on both your
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What San Diego Home Utilities Are Required?

Question: “My wife and I have never bought a home before. I heard that legally the home has to be of a certain condition to sell. Specifically that the plumbing, heating, electrical, and appliances must work, and that the roof is watertight. Is this correct?” Answer: No. There is no such law. The old California
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Do Banks Do Short Sales on Reverse Mortgages?

Question: “My mother moved to a senior home and we need to sell. She has a reverse mortgage and is upside down. Do banks do short sales on reverse mortgages?” Answer: Yes! Short sales on reverse mortgages are as fast and easy as they get. In fact, we just did one and got the bank’s
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Your Bank May Lie to You About Your Short Sale

Question: “We’re behind on our mortgage and want to do a short sale, and our bank says we have to be current in order for them to approve it. That doesn’t sound right. What’s your take on this?” Answer: They’re lying to you! You’re talking with a department whose job it is to get you
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Can Your Bank Get Your Money After a Short Sale?

Question: “I’m planning to do a short sale. But if I come into some money later, can my bank go after me and try and get that money?” Answer: Not if you’re selling a property in California! Because of California Senate Bill 931 and Assembly Bill 458, when lenders agree to a short sale, they’re
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Are Foreclosures Also Short Sales?

Question: “Hi Gary. I’m a new real estate investor. I see all your foreclosures. Are they also short sales?” Answer: First, a quick explanation: There are 3 stages of foreclosure during which a home may be sold: BEFORE a foreclosure sale, when the homeowner is in foreclosure. AT the foreclosure sale, when the home is
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