DOWN TO THE WIRE

HOME OWNERS WORKSHOP
LOAN MODIFICATIONS, SHORT SALES,
NEW REAL ESTATE TAX LAWS

Short Sales, Foreclosures, Deed-in-lieu-of Foreclosures
Erin Riley & Cecilia McDermott
Realtors, Distinctive Coast Properties

Loan Modifications
Letty Val Verde, Sr. Loan Consultant, Mark 1

Short Sale Escrows
Judy Norris, Escrow Officer, Tiempo 2

New Tax Laws for 2007-2008 and Credits
Chris Basom, Your Money Matters inc. CPA

SEPTEMBER 16, 2008
7:00 - 8:00 PM
Limited Seating Register Today!
949.290.7791 / 949.283.1722

HOSTED BY:

Distinctive Coast Properties
209 Avenida Del Mar Suite 104
San Clemente, CA 92672

UNDERSTANDING A SHORT SALE

When you bought your first house a few years ago, were you overwhelmed by the process and the paperwork? Were you confused by the loan? If so, you are not alone. According to Agora Financial, there is $110 Billion in ARM loans that will reset in March 2008.

If you've read our recent blog on the mortgage relief plan and you don't qualify for this government program or are still concerned you will not be able to make your payments due to a hardship and cannot sell your home for what you owe because you owe more than your home is currently worth, then read on.

Realty Times recently published a comprehensive article that explains the 'nuts and bolts' of a short sale. Basically, a short sale is an arrangement with your lender whereby they will allow you to sell the property for less than the amount of the current mortgage.

As you read this article, keep in mind the short sale process works, but is complicated, time-consuming and uncertain. A Realtor that has been through this process is essential. Moreover, the real estate agent you select should have a relationship with an escrow firm, such as Ranchland Escrow, that has extensive experience with the process. This is not your typical home sale.

If you can start now -- before you are actually in default -- you will be ahead of the game.

Hot Property of the Day: Short Sale Condos available for under $300,000 in Rancho San Clemente. Call Cecilia McDermott for more information. 949.276.8000