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Residential Re-Sale, Commercial Properties, Foreclosures and Investments…As a long-time Fullerton resident Adam is intimately familiar with North Orange County neighborhoods. He has extensive expertise in residential real estate, commercial build outs, hard money lending and mortgage banking. As an authorized REO agent for GMAC, CountryWide Home Loans and World Savings he has extensive experience in all aspects of the foreclosure process. Investors rely on his knowledge and experience to help them identify and capitalize on distressed properties.

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Short Sales Popular Choice For Struggling Homeowners

January 19th, 2010 • Related • Filed Under
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Last week there were 2,180 active short sales on the market in Orange County, whichmoney was a 1% increase from two weeks earlier. There was another 7,000 short sales that were either on hold or were active listings pending sales.

Short sales must be approved by a bank therefore all short sales listed are not always approved. They require lender approval because they are asking for the bank to accept taking less than what it is owed on a home. Short sales seem to be a top choice for homeowners who are underwater because they lack most of the problems that come with foreclosure and work with the homeowner.

On November 30, 2009, the Treasury outlined the short sale process for Fannie Mae and Freddie Mac loans. FHA loans came out with a guideline in the middle of December. Many banks are preparing, or have already prepared, a streamlined short sale process.


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