Fullerton Short Sale Seller Case Study  #31:

The Property and Initial  Financing: This detached home was located in Fullerton, California, and consisted of a 3 bedrooms, 2 baths with 2 car garage and 1,700 square feet of living area, built in 1958.

The ranch style home was acquired by the homeowner in the Winter of 2005′,  and about 10 months later, the owner refinanced the property.  After the refinance there was a 1st mortgage with a loan balance of $810,000 and a 2nd mortgage of $180,000.    Both loans were fixed interest rates amortized over 30 years.

Local Market Conditions: In Fullerton, prices have dropped about 31%  since the height of the market in mid 2006′.   Southern California, has been  hit hard by the recession and nationwide mortgage loan crisis.    Due to the severe recession here locally, the income from the home owners small business had dramatically declined, and consequently were suffering a difficult financial hardship.  This prevented them from keeping current on the mortgage loans, and also eliminated the possibility of a loan modification.    The owners heard about us from a work associate, so they  contacted us as  to conduct a short sale.

Step A – Short Sale Preparation: We first gather all of the bank required documents from the homeowner which includes a simply financial statement, 2 months bank statements, several Pay Stubs, Hardship letter, and bank account balances. We package this information along with other market data and present our short sale case to the Banks.  After some expert  negotiations with the 1st and 2nd mortgage holders, we got them to preliminary agree to certain short sale terms and conditions.  During this Step, the home owner lived in the property as usual with no interruptions to their daily lives. And as a result of  their hardship, they were unable to make their mortgage and lived payment free.

Step B – Short Sale Marketing and Sales: With the Short Sale preliminary approved, we started the endeavor of  Marketing the Fullerton property for sale. This was advertised in the Multiple Listing Service and we kept the short sale status as Private Data hidden from the public.  The house was listed for sale for $689,900, which was approximately the market value at that time. After a period of about 24 days,  we procured an offer fro a qulaifed buyer for $640,000.  After some back and forth negotiations from our listing Realtor, we arrived at a price of $660,000.

Step C – Short Sale Closing: Our listing Realtor acquired all of the necessary signatures from the buyer and seller, and reviewed the loan qualification status of the buyer.  Once approved, we opened escrow, and our short sale team then packaged the new purchase offer, along with acquired Short Sale disclosures and Buyers loan qualification paperwork, and submitted the package to the 1st and 2nd mortgage banks.  After some  tough negotiations with our expert Realtor team, and associate attorney  got both the 1st lender and 2nd lender to agree to the short sale offer.   Once we received the bank short sale approval letters, we moved forward with the buyers closing through escrow.

Final Result: At close of escrow, the entire $990,000 in total mortgage debt was retired, and the seller rented a comparable Fullerton home and is now saving about $1,900 per month.  In addition, the homeowner is now working with our credit Restoration affiliate firm and will be able to buy another home early next year.

ShortSaleASAP is licensed with the California Department of Real Estate, and our services are free to the homeowner, for we are paid by the mortgage bank(s).  Here are the benefits and some of our accomplishments regarding our short sale services:

- Over a 93% Short Sale Closing Rate.
- Local Orange County Experts with a Verifiable Track Record of Success.
- Our Services are FREE to you for we Negotiate our Fee with the Banks.
- We are Attorney Backed.
- Most often we get 2nd TD HELOC debt deleted or highly reduced.
- Can many times Negotiate a “Cash for Short Sale Cooperation” fee for the Seller.
- Associate Credit Restoration Firm which can often re-establish credit in less than a year.
- Stop Foreclosure and live in the home Rent Free dependent upon Hardship.
- Eliminate all back Property Taxes.

If you have any questions regarding Short Sales, contact our team of experts at: (949) 388-3396 or drop us an email at: Info@ShortSalesASAP.com

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Property Description:   Private end unit in back of complex. Two master bedrooms both with private bathrooms. Mirrored wall in dining room. built in wet bar, gas log fireplace in living room, ceramic tile floor all downstairs, private patio leads to garage. Gated complex with association pool.  Composition/shingle roof.

Financing:    Conventional financing with 10% or 20% down is available.  Interest rates have recently dropped to 6.6% with No Points for Jumbo loans greater then $417,000.    Seller needs to sell  this Short Sale property quickly and is priced as such..

Contact:  To view this foreclosuree home, feel free to Call Us at:  949-388-3396, or email us at:  Info@SearchOCHomes.com , or Text Message at:  949-283-4679.  We’re easy to talk too.  Let us negotiate a great price for you on this foreclosure property for sale in Orange County.  Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at:  www.OCBargainHomes.com  

Post from: Orange County Real Estate Blog

The rustic and rural setting of Sunny Hills offers equestrian trails, scenic hillsides, and adjacent to Hillscher Park, St. Jude Hospital and Coyote Hills Golf Course.   Sunny Hills is located near the intersections of N. Euclid St. and W. Bastanchury Rd.  Just down the street from this community is located Cal State Fullerton, and the rejuvenated downtown area.

Many of the streets that comprise Sunny Hills are as follows:  Valencia Mesa, Mesa del Sol, La Mesa Dr.,  Crestview Dr., Dolores Dr., Margarita Dr., Alta vista Dr., La Cresta Dr., Rodeo Rd., Fox Dr., Pine Ridge Knolls, Richman Knolls, Green Acres Dr., Miramonte Dr., and Raintree Dr.

The residents of Sunny Hills, Fullerton are very proud of the neighborhoods award winning public schools.  The grade school is Laguna Road Elementary, which has won the statewide Distinguished School and Blue Ribbon awards.  The middle school is Parks Jr. High, and the upper grades are conducted at Sunny Hills High School.  This high school also won the  Distinguished School Award and was also ranked by Newsweek magazine as one of the top 100 schools in the nation in 2003.  Some residents within Sunny Hills send their children to Troy High School, which also is a Distinguished School.

Prices in Sunny Hills currently range from the low $1 Million to the upper $1 Million.  Given the desirability of this neighborhood, very few homes change hands from year to year.  If you would like to view all real estate for sale in Fullerton and Sunny Hills, please visit our website at:  Search MLS Homes for Sale in Fullerton

Post from: Orange County Real Estate Blog

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Property Description: Beat the Bank on this low Priced Short Sale that offers one of the best values in Fullerton.  Large backyard and wide lot that could handle RV parking.  Composition roof and wall to wall carpeting. Located close to Orangethorpe and Brookhurst.

Financing: Two sources of Government Subsidized loans are available to purchase this low priced home with Zero Down payment.   Seller needs to sell now.  If you are a homeowner who may be behind in your mortgage payments, or if your mortgage loan debt is more then your home is worth, please visit our website at:  Orange County Short Sale Team

Contact: To view this Bank Foreclosed home, feel free to Call Us at:  949-388-3396, or email us at:  Info@SearchOCHomes.com , or Text Message at:  949-283-4679. We’re easy to talk too.  Let us negotiate a great price for you on this Short Sale property for sale in Orange County.  Join our FREE and No Obligation Bank Foreclosure and Short Sale home finder service at:  www.OCBargainHomes.com

Post from: Orange County Real Estate Blog