Short Sale

Foreclosure Notices, Notices Of Default, Trustee Sales, Help For Homeowners

Facing Foreclosure?       Here are some honest answers for homeowners going through tough situations… Will the bank foreclose if you don’t do anything? Yes, they will. We have seen an increase in the number of foreclosures this year. Banks that used to delay are now moving forward with foreclosures. What is a Trustee Sale? A trustee sale is the event where the...

Fewer Bank Repos Available… Why?

Fewer Bank Repos Available… Why? In February 2017, according to the statistics provided by Equator.com, an authority on real estate statistics, there were only 3 closed bank repos last month. Where have all the foreclosures gone? Here are a three reasons I believe there are fewer bank repos for sale. Higher Home Prices = Greater Equity Now that home prices have rebounded, most homeowners that...

Great News for 2013 Short Sale Sellers

SHORT SALES NOT SUBJECT TO STATE OR FEDERAL INCOME TAX FOR CANCELLATION OF DEBT Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter yesterday stating that, as nonrecourse obligations, short sales in California are not subject to state income tax for cancellation of debt. The FTB's position conforms with...

Foreclosures Way Way Way Down! Are Bank Repos a Thing of the Past in Orange County?

Foreclosures Way Way Way Down! Are Bank Repos a Thing of the Past? Take a look at the latest Foreclosure Radar report from (www.foreclosureradar.com) and you will see that the number of foreclosures notices filed in Orange County is down nearly 51% from a year ago! DOWN FIFTY ONE PERCENT!!! Two things are obvious: 1) Banks are foreclosing on fewer homes. 2) There are fewer homes to foreclose because...

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