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Foreclosures & Short Sales

Buying Foreclosures in Los Angeles

Los Angeles Short Sales, Los Angeles Foreclosures, Buying and Selling Los Angeles Foreclosures

Almost every buyer I meet asks about buying foreclosures in Los Angeles, because, like everyone, they are looking for a deal.  And I always hear “I am looking for a deal.” Fortunately, or unfortunately, there are no deals in the desirable…

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A Los Angeles Foreclosure Alternative – Deed in Lieu

We often talk about different short sale incentive programs—HAFA, TAP, Bank of America Cooperative. Some of these programs also offer options and incentives for borrowers who are considering a deed-in-lieu of foreclosure. I do not write about deed-in-lieu very much,…

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Los Angeles Short Sales and Tax Implications

I had an agent ask me today about the tax implications of a short sale. He said that his seller was concerned about both the tax implications and future liability for the debt forgiven and was in the process of…

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What do Mortgage Insurance and Magic Have in Common?

Today, at the monthly NAHREP (National Association of Hispanic Real Estate Professionals) meeting in San Marcos, California, I had the pleasure of speaking about short sales. After the meeting, Ken Davis approached me and asked me about mortgage insurance. Short…

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What is a Short Sale?

The definition of a short sale is the sale of real estate in which the amount yielded from the sale is short of the balance owed on a loan secured by the property which will be sold. That means that…

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Foreclosures – A Dream or a Debacle?

Are you leaning towards stepping into the investment market? You may get the idea that buying a  foreclosure is your best bet for a great deal on a home. Well, it’s possible, but remember that the foreclosure market is full of…

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Buy a Foreclosure Save $100,000

Would you like to buy a foreclosure and save $100,000? Fannie Mae and Freddie Mac are trying to reduce their huge inventory of foreclosed homes by by offering to pay some of the closing cost, financing renovations and repairs, and…

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Buying a Foreclosure in Los Angeles

Buying a Foreclosure in Los Angeles is not an easy process and not for the faint of heart. There are three stages of buying: Pre-foreclosure: This is when the home is in the process of being foreclosed on but has…

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