Selling Your Home – Selling at a Loss

September 22, 2012 Leave a comment

Selling Your Home – Selling at a Loss

Can a home seller sell a home for less than its mortgage? Yes, in some case you can sell your home for less than what you still owe on the mortgage. But it is complicated and depends on the lender. This situation is known as a “short sale.” Sometimes a lender will be willing to split the difference between the sale price and loan amount, which still must be paid. A short sale may be more complicated if the loan has been sold to the secondary market because then the lender will have to get permission from Freddie Mac, the two major secondary-market players. If the loan was a low down payment mortgage with private mortgage insurance, then the lender also must involve the mortgage insurance company that insured the low-down loan.
When does foreclosure begin? Lenders will initiate foreclosure proceedings when homeowners become delinquent in their mortgage obligations, usually after three payments are missed. The lender will then notify the buyer in writing that he or she is in default. The lender can request a trustee’s sale or a judicial foreclosure, in which the property is sold at public auction. A borrower can cure the default by paying the overdue amount and the pending payment after the notice of default is recorded, usually no later than a few days before the property’s sale. Some sales allow the successful bidder to take possession immediately. If the former owner refuses to vacate the premises, the court can issue an unlawful detainer that allows the sheriff to come out and evict them. Borrowers should do everything they can to avoid foreclosure, which is one of the most damaging events that can occur in an individual’s credit history.


Do you need to Short Sale your home? HAFA offers $3,000 back


There are other benefits to the HAFA- Home Affordability Program.



Regina Flores, SFR

Just Listed! 5.8 Acres Land in Ramona with Amazing Views! Only $99,700!

April 25, 2012 Leave a comment

Awesome Views from this lot! Amazing Price for what you get:

• Well on Property
• Level to slight slope, perfect for Horses, Animals & grape vineyards
• Creek on property
• Tentative Map for Rd in final stages
• Power to property

What more could you ask for! Hurry this one won’t last. Don’t let this dream pass you by.
Call Regina today at: #760-788-0721.
REGINA FLORES…for all your real estate needs
RE/Max Direct, Ramona CA
Call : (760) 788-0721
CA DRE# 01297838
shop homes 24/7 on MLS at

New Land Listing in Ramona- 5+ Acres for $99,700

April 25, 2012 Leave a comment

SHORT SALES are possible

If you are thinking about selling your home as a short sale there is good news and bad news. The good News is that it does appear the banks are streamlining the Short Sale Process more and this helps us close the sale quicker. The bad news is that Time may be running out on tax relief for your short sale…Mortgage Forgiveness Act runs out Dec 2012. CLICK HERE FOR DETAILS. Now is the time to act if you are thinking about a Short Sale. call today for more info at 760.788.0721.

Time may be running out for your short sale…Mortgage Forgiveness Act runs out Dec 2012

February 5, 2012 1 comment

The Mortgage Forgiveness Debt Relief Act is only applicable through December 31, 2012. You need to act quickly in order to take advantage of this opportunity. Call Today 760.788.0721.

January Newsletter 2012

January 17, 2012 Leave a comment