Best Side Of The West Side

Citibank is one of the large national banks, and many of those residing in the Westside Los Angeles area have turned to for financing of their homes. I just recently finished a Citibank short sale for a client in Santa Monica. And while the entire transaction took almost a year, once we had the right [...]

Today I want to talk about what you should expect when working with your bank on a short sale. One of the most common questions I usually get when speaking with potential clients is always about how much money the bank will want; or if the bank will accept  the difference between what their home [...]

Have you ever wondered how you can qualify for a short sale? Are you behind on your mortgage? Do you currently owe more than what your house is worth? Do you need a solution to your financial troubles? Now, I will discuss with you how one goes about qualifying for a short sale. If you [...]

What I am seeing more and more often in my short sale transactions is homeowners with two loans on the property. The 2ndloan is usually either a Home Equity Line of Credit (HELOC) or a second loan for 10-20% of the original purchase. The trend with the second lienholder, in either scenario is a demand [...]

I’m still on my Short Sale Soap Box Then there’s the short sale BPO (Broker Price Opinion) process. The banks are of the belief that an out-of-area real estate agent who is willing to consume hours of their time to drive 60 miles to take photos, develop a market analysis that declares market value and turn [...]

Ah…the World of Short Sales is fraught with problems. As I write this, I think to myself: THIS IS AN UNDERSTATEMENT! We aren’t just running into problems with the banks, we’re running into what could be described as OUR WORST NIGHTMARES! Lenders are defying logic and denying short sales where the seller is demonstrably distressed and in [...]