John's Blog

Avoid Foreclosure by Considering a Short Sale as your Preforeclosure Option - San Francisco, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:58:58 -0800

San Francisco Homeowners

Are you unable to maintain your mortgage payment(s)?

Are you considering the options such as Foreclosure or Bankruptcy?

A Short Sale may be the Pre-foreclosure option may be best option. A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future. Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

Avoid Foreclosure by Considering a Short Sale as your Preforeclosure Option - San Diego, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:58:20 -0800

San Diego Homeowners

Are you unable to maintain your mortgage payment(s)?

Are you considering the options such as Foreclosure or Bankruptcy?

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

Avoid Foreclosure by Considering a Short Sale as your Preforeclosure Option - Inland Empire, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:57:28 -0800

Inland Empire Homeowners

Are you unable to maintain your mortgage payment(s)?

Are you considering the options such as Foreclosure or Bankruptcy?

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

Avoid Foreclosure by Considering a Short Sale as your Preforeclosure Option - Orange County , California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:56:36 -0800

Orange County Homeowners

Are you unable to maintain your mortgage payment(s)?

Are you considering the options such as Foreclosure or Bankruptcy?

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

Avoid Foreclosure by Considering a Short Sale as your Preforeclosure Option - Los Angeles, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:55:47 -0800

Los Angeles, California Homeowners

Are you unable to maintain your mortgage payment(s)?

Are you considering the options such as Foreclosure or Bankruptcy?

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

$25+ Billion Mortgage Settlement between the US and the Big 5 Banks - Mortgage Relief Plan

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:49:12 -0800

This week a $25+ billion settlement was announced, the so called mortgage relief fund, thus being one of the biggest multi-state settlement since the 1998 tobacco agreement. This settlement is between the federal government/state attorneys general and with the banks Bank of America, Wells Fargo, JP Morgan, Citigroup and Ally Financial (formally GMAC).

The $25+ billion settlement goes as following:

$17 billion in credits to the banks on homeowners in risk of defaulting on their mortgage. Up to $20k per homeowner on their modification. (hmmm... it not the average home underwater about $50k?)

$5 billion in cash payments to borrowers who were wrongly or illegally foreclosed on between Sept.2008 to Dec. 2011. The max payout for the borrower to receive is $2k. (which is a nominal amount for a person foreclosed on that was forced to sign a loan they should not be in...yes, sarcasm)

$3 billion in credits to the borrowers that are currently in need of refinancing or some sort of modification.

$1 billion is the plus "+" that is currently unknown???

Now before you all think this is a great idea or win for the little man. This settlement is going to be funded from investors and taxpayers and not the banks. So get ready for more government issues, mortgage backed securities issues, and a longer recession.

Mortgage Rates Still Remain at Record Lows

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 11 Feb 2012 23:17:36 -0800

Late this week Feddie Mac noted that the rates are still on a low with hopes that home buyers would purchase and home owners would consider refinancing. Here are the rates at the end of this week...

30 yr Fixes Mortgage Rates

3.87% - Current Rate
3.87% - Lowest Rate within a Year
5.05% - Highest Rate within a Year

15 yr Fixes Mortgage Rates

3.16% - Current Rate
3.14% - Lowest Rate within a Year
4.29% - Highest Rate within a Year

5 yr Adjustable Mortgage Rates

2.83% - Current Rate
2.80% - Lowest Rate within a Year
3.92% - Highest Rate within a Year

1 yr Adjustable Mortgage Rates

2.78% - Current Rate
2.74% - Lowest Rate within a Year
3.40% - Highest Rate within a Year

Los Angeles County Enforcing "Ball Playing" Fines on Beaches during the Summer Season

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Fri, 10 Feb 2012 17:57:16 -0800

Well now, here are a few things to possibly look forward to during your beach time in friendly "Sunny So. Cal."

Increased fines and restriction are to be enforced this Summer on the Los Angeles County beaches. The LA official's reasoning is that during the peak season this ordinance will protect people and property on and near the beach. This ammended ordinace was recently approved by the Board of Supervisors and here are a few of the highlights:

Beach goers are prohibited “to cast, toss, throw, kick or roll” any object “upon or over any beach” between Memorial Day and Labor Day (but during the off-season the new rules will be relaxed)
Beach Ball or Volleyballs are permitted
Beach goes and their children are prohibited digging any hole deeper than 18 inches.

FINES:

1st Time Offender - $100 fine
2nd Offense - $200 fine
3rd or more (within one year) Infractions - $500 fine

I guess I better paint my football white and call it Wilson so I don't get in trouble this year...

Foreclosure Rates at a Low

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 Jan 2012 23:59:27 -0800

It seems that many are saying that the numbers recently have reached an all time low, since the recent prerecession. 1.9 mil. homes that were in foreclosure last year is similar to that of 2007 and before. Of course Nevada, Arizona, and California are holding a seat at the head of the table within the high ranks of homes in foreclosure.

But the numbers for 2012 will be back up just not as extream as the recent times years. However until the next wave of domestic and international economic issues comes to light we are still not out of the woods. Real estate was a huge catalyst for this so called recession but the aftermath is yet to settle, as we are seeing in the world economic news. There will be an end to this downward economic fall we are living in but not within this year.

Top 10 Most Polluted Cities

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 Jan 2012 23:52:34 -0800

Even though I'm a transplant I still love living in Southern California. But with that in mind I realize that Cali has a lot of Top 10 rankings, especially the most polluted. So here are the sad rankings of this Top 10.

Bakersfield and Delano, California
Los Angeles, Long Beach, and Riverside, California
Visalia and Porterville, California
Fresno and Madera, California
Pittsburgh and New Castle, Pennsylvania
Modesto, California
Birmingham, Hoover, and Cullman, Alabama
Phoenix, Mesa, and Glendale, Arizona
San Diego, Carlsbad, and San Marcos, California
Sacramento, Arden, Arcade, and Yuba City, California /Nevada

Top 5 Foreclosure and Worst Employing Cities of the end of 2011

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 Jan 2012 23:38:59 -0800

Top 5 Foreclosure Cities

Merced, California
Modesto, California
Stockton, California
Riverside, California
Detroit, Michigan

Top 5 Employing Cities

Miami, Fla.
Los Angeles
Riverside, Calif.
Las Vegas
Detroit

But on a side note here are the cities with the most foreclosures filed. Remember these cities have a lot more homes pre square mile.

Top 5 Foreclosure Filed

Las Vegas, Nevada
Chicago, Illinois
Los Angeles, California
Miami, Florida
Phoenix, Arizona

USPS – Post Offices releases Staff and Locations

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 Jan 2012 23:06:58 -0800

Nothing new that the United States Post Office, USPS, will be reducing more of their staff, work hours and asking many to retire early. Currently, the projected list of USPS locations that are going to close is getting bigger every time I see it. But with $5 billion a year in losses due to the Internet and Congress saying they are to fully fund all of their future pension obligations I can see why.

If the USPS was a business they would have filed for bankruptcy a long time ago. Heck, it would have been closed down by now but it’s a constitutionally mandated civic institution that does a job like no other. With an increase in US population yet it still is having an decrease in revenue the long term trend is not looking too good. Even with over 120,000 employees and over $12 billion in operating reductions, their plan of consolidating 260 processing centers, making a 5 day delivery and business service, and increase their fees may not be enough.

As congress and the General Postmaster Patrick R. Donahoe work on this major endeavor on the USPS’s infrastructure and budget relations. We’ll all just have to sit back, watch, and experiences all of the changes.

USPS First Class FOREVER Stamps Increase for 2012 - Jan. 22 - Sunday

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 Jan 2012 22:31:53 -0800

So it seems that on the morning of Sunday, January 22, 2012 is the day that the price for the Forever Stamp will be increasing. It’s supposedly be starting this morning Monday, but oh well…

The increase is from $0.44 to $0.45. Yes, a whopping 1 cent, however in 2010 it was 2 cents. Additional increase well be made to the USPS postage pricing such as:

Postcard increases 3 cents to 32 cents.
Standard size letters to Canada and Mexico increases 5 cents to 85 cents.
International standard size letter to other countries rises 7 cents to $1.05
Increases in other mailing services include Standard Mail, Periodicals, Package Services and Extra Services

KB Home Starting on the Edge for 2012

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sun, 15 Jan 2012 00:01:36 -0800

Many companies in 2011 have gone through downsizing by closing locations such as Borders with 620+, Blockbusters with 400+, GameStop with 200+, and GAP with 180+.

KB Home is a California based home builder has been on a downward fall since the housing market has gone south in late 2006. With the loss of over $2 billion and expected more, KB has cut their costs in every way possible and has still ended the year with a 46 stock decline.

Their approach like many home builders are targeting home buyers in the upper-middle class income or higher, while reducing the home size and adding amenities that aid in bringing down the monthly costs to maintain a home. These are the few and only things that can be done from any home builder during this market.

Still a Sweet Deal for Refinancing

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 Jan 2012 23:07:19 -0800

If you are one of the few homeowners that can actually refinance either thru the heavenly touch of the real estate godz or somehow you did not take a bite out of the apple that has been constantly pounded advertised for the past few years. You're in luck... so far for your patience and willpower you get a mortgage treat. As I have been saying to many who ask the rates have fallen to a new low due to our so called recession. I say that lightly seeing that the recent last holiday spending increased from the prior year, yet the employment and average wage has not gone up enough to warrant this monetary increase to splurge. But that is another post I'll deal with another time.

Back to the thought at hand. The average numbers were showing 30 year mortgage are about 4.05% at the end of last year, as well as the jumbo mortgages (loans larger than $417k). Lenders are locking rates at 60-days for free, instead of the average 45-days. But seeing first hand why they did this was a smart move. The multiple people that I have encountered obtaining a refinance from the big three US banks have taking a long time to close.

FICO credit scores still needs to be about 740 for the best rates and the lenders are asking a lot of information and documentation as well. Even if you posses a personal and/or business account with them or even have the previous loan with them.

With a good FICO and 15% equity you looking good, however if you are dwindling on the amount of equity then expect to pay private mortgage insurance (PMI). Again, this is all dependent on the appraised value of your home. But at least US Home Affordable Refinance Program has relaxed on some of their home equity requirements. Though the down side is that your current loan needs to be owned or guaranteed by Freddy Mac or Fannie Mae. And it is not a loan modification so be current on our mortgage.

Well, I heard that Union Bank can roll their costs into the loan and if the original loan is with them, then you do not have to provide as much paper work. Many of the banks need to jump forward and follow these soften guidelines, seeing that the borrowers who are paying and have excellent credit scores should not be burdened, while the borrowers that are in default get similar rates and do a lot less in terms of actual payment and paperwork. Again, my recent unpaid loan modification for my client received a better rate than my personal friend. Moreover, both parties are suffering greatly in terms of income.

The Most Expensive Home in the World

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 Jan 2012 22:05:06 -0800

The most expensive home in then world in terms of a private residental home goes to the winner Mr. India, Mukesh Ambani. Mr. Ambani is the Chairman of Reliance Industries Limited, which provides petrochemicals, refining, and oil and gas, textile, retail business, special economic zone development and telecom/broadband business. This chairman has become the richest person in his country and said to be the Forbes' 4th richest in the world.

Here are the basic stats on his Goliath tower of a home in Antilla, Mumbai, India:

$1-2 billion estimated value
27 stories (60 floors in normal standards) at 568 feet high
398,000 square feet of living space
Health Club/Spa, Swimming Pools, Dance Studio, Ballroom, and a 50 seat Theater
Guest rooms, Lounge Areas, and 4 Story Hanging Garden
3 Helipads (w/ traffic control)
6 Floor Car Park that hold 160 Vehicles
and so much more...

So it is said that it takes a staff of 600 to maintain and run this Taj Mahal Ambani. Thank goodness it took only 3 years to build the skyscraper home for his wife, 3 children, and mother in a country that is to posses 1/3 of the world's poorest population.

Current Mortgage Rates are the Lowest this Year - 2011

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 May 2011 23:24:58 -0700

The home loan interest rates on a traditional 30 YR fixed rate has been falling for the past month making it the lowest so far in 2011. Freddie Mac has posted that the average rate was 4.61% this past week, which even happens to be the lowest rate in the past 6 months. Even the 15 YR fixed rates loans were down this week.

Freddie Mac Rate Averages

30 year fixed: 4.61% w/ 0.7 of a points

15 year fixed: 3.80% w/ 0.7 of a points

5 year adjustable-rate mortgage: 3.48% w/ 0.6 of a points

1 year adjustable-rate mortgage: 3.15% w/ 0.6 of a points

NEW Warning When Purchasing Items in CA - California Proposition 65

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 May 2011 23:08:02 -0700

So now CA make a warning label or posting for these materials? I was purchasing some items and I came across this interest window that pops up about the my purchase. Wow, now when you actually post this up it makes you think about buying a product. I can't wait till they put warrning labels or postings on my fruit and vegies at the farmers markets. Althought, I guess it did work since I'm not purchasing the item and now the search continues...

Attention California Residents:

California's Proposition 65 entitles California consumers to special warnings for products that contain chemicals known to the state of California to cause cancer and birth defects or other reproductive harm if those products expose consumers to such chemicals above certain threshold levels.
We hope that the information below helps with your purchasing decisions.

The general Proposition 65 notice is as follows:

WARNING: Products in the categories below may contain chemicals known to the State of California to cause cancer and birth defects or other reproductive harm.

Products made with Fabric, Leather, Vinyl, Foam, Synthetic and Non-woven Material
Batteries and/or Products that contain batteries
Beauty Products (including first-aid kits and lotions)

In addition, there are specific warnings for products in the following categories:

Electrical Cords (may be found on some travel accessories)

California requires the following notice:

WARNING: The wires of some products may contain chemicals known to the State of California to cause cancer and birth defects or other reproductive harm. Wash hands after handling.

Beauty Products (containing progesterone)

California requires the following notice on beauty and skin care products that contain progesterone:

WARNING: Certain beauty products may contain progesterone, a chemical known to the State of California to cause cancer. Consult with your physician before using this product.

For a complete listing, visit www.oehha.org/prop65.html

What Exactly are Mortgage Points, Rates, and Fees?

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 21 May 2011 23:02:53 -0700

Someone asked me about the basics of a loan... in a nutshell there are several costs that are associated when obtaining a mortgage. Those common 3 widely used words are points, rates, and fees

I'm going to have to put the types of mortgages aside for this one but leave it simple and just address the 3 kings that are commonly associated with a mortgage. Just remember to ask questions and these costs will be paid upon closing.

Purchase Points

Points, purchase points, buy down, or discount points are the common front fee that is paid to the lender buy down your interest rate so it it lower. Each point is about 1% of your total loan amount and the more points you buy the lower your interest rate but there is a limit.

So you're asking yourself, spouse, or every person you trust, how do you decide whether you need to buy points? It's simple just figure how long you plan to live in your home and the longer you live in your home the more you can save on interest over the life of the loan. I usually average that you should live a minimum of 5-7 years at the place to really break and start saving.

Interest Rate

A rate is when the lender charges you for using their money to buy a home during the life of the mortgage. As mortgage interest rates constantly change so unless lock in a rate with a lender it's not guaranteed. Locking in an interest rate can range from 15, 30, 45, or 60 days, however the more days you have it locked the more expensive it will be.

Fees

Having a mortgage and fees associated with getting a mortgage go hand in hand in this industry. Most of the fees cover the cost of processing and underwriting the loan. These fees are to be paid at closing, but some loans have been designed to have lower fees but higher interest rates. So it's up to you to figure out how you want to pay them and to you have the disposable income to pay these up front fees? Just make sure there are no hidden fees and that it matches your GFE, Good Faith Estimate, which is given to you in the beginning.

Top 4 Cities that are Holding Strong or Ignoring the Recession

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sun, 15 May 2011 01:05:15 -0700

As California's Riverside, San Bernardino, and Ontario area are dealing with nearly 14% unemployment, while the 13% unemployment in Las Vegas are right behind us. It seems that the US unemployment rate is at 9% again. But with all that being said there are a several US cities that are unaffected by the bad economy.

Washington, DCholds a reported Gross domestic product (GDP) of 2009's $366.6 billion to today's $407.5 billion with an unemployment of 5.8% and a 10 year (2000-10) population increase of 2.8%. I guess having government jobs, huge need for legal services, and a lot of reputable higher leaning institutions it makes it really easy to ignore the economic downturn.

Austin, Texas holds a reported Gross domestic product (GDP) of 2009's $73 billion to today's $78.4 billion with an unemployment of 6.8% and a 10 year (2000-10) population increase of 20.4%. With Samsung, Whole Foods, Dell, to University of Texas, and a population of eclectic Austonians this art fueled city is still painting a picture perfect place to live.

Madison, Wisconsin holds a reported Gross domestic product (GDP) of 2009's $31.2 billion to today's $34.8 billion with an unemployment of 5.7% and a 10 year (2000-10) population increase of 11.6%. With a huge medical and bio-tech backing with a growing place for businesses and top it with some government jobs and a large university this city holds as well as their cheese and steaks. Sorry I miss their food...

Boulder, Colorado holds a reported Gross domestic product (GDP) of 2009's $16.2 billion to today's $17.6 billion with an unemployment of 6.9% and a 10 year (2000-10) population increase of 5.8%. This artistic hippie/yuppie community is fueled by the University of Colorado and home to Crocs, Celestial Seasoning Tea, IBM, Lockheed Martin, and well a whole bunch of Science based institutions and companies. Recession is only a word to a community of hippies and yuppies.

Short Sale Your Home - Avoid Foreclosure - Los Angeles, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sun, 15 May 2011 00:00:07 -0700

For the Orange County homeowners that are unable to maintain your mortgage payment(s) and need an option to avoid possible Foreclosure or worse Bankruptcy. Banks do not want to foreclose on your property. It's an expensive process for them and carries a high level of liability once the bank takes over the property. Wherever possible, banks are willing to look at other options besides foreclosure.

The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

Short Sale Your Home - Avoid Foreclosure - Orange County, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 May 2011 23:59:26 -0700

The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

John Kim - Short Sale Processor

Short Sale Your Home - Avoid Foreclosure - San Francisco, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 May 2011 23:58:52 -0700

For the San Francisco homeowners that are unable to maintain your mortgage payment(s) and need an option to avoid possible Foreclosure or worse Bankruptcy. Banks do not want to foreclose on your property. It's an expensive process for them and carries a high level of liability once the bank takes over the property. Wherever possible, banks are willing to look at other options besides foreclosure.

The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

John Kim - Short Sale Processor

Short Sale Your Home - Avoid Foreclosure - San Diego, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 May 2011 23:57:51 -0700

For the San Diego homeowners that are unable to maintain your mortgage payment(s) and need an option to avoid possible Foreclosure or worse Bankruptcy. Banks do not want to foreclose on your property. It's an expensive process for them and carries a high level of liability once the bank takes over the property. Wherever possible, banks are willing to look at other options besides foreclosure.

The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

John Kim - Short Sale Processor

Short Sale Your Home - Avoid Foreclosure - Inland Empire, California

John Kim (Orange County CA Pre-Foreclosure Processing - Short Sales) — Sat, 14 May 2011 23:57:06 -0700

For the Inland Empire homeowners that are unable to maintain your mortgage payment(s) and need an option to avoid possible Foreclosure or worse Bankruptcy. Banks do not want to foreclose on your property. It's an expensive process for them and carries a high level of liability once the bank takes over the property. Wherever possible, banks are willing to look at other options besides foreclosure.

The short sale pre-foreclosure process is at no cost to you and is worth consideration. Here are some hardships that may qualify for short selling a home.

MORTGAGE RELATED REASONS

No Equity available to Refinance
Interest Rate Adjusted
Balloon is due
Huge Negative Amortization

PERSONAL RELATED REASONS

Loss of Employment
Loss of Secondary Income
Medical Related Issues
Divorce or Separation
Military Transfer or Deployment
Job Relocation

John Kim - Short Sale Processor