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"Should I Short Sale MY HOME?"
 
  
 
The Short Sale Services I offer:

 

  • Free, Confidential, and No Obligation Consultation at your home.
  • No Cost to you. The bank will pay the all the commissions and closing costs.
  • No Obligation. Cancel your listing at any time.
  • Weekly Updates on the status of your Short Sale.
  • You may still pursue a loan modification during the short sale process.
  • Industry proven short sale system with a 97% success rate.
  • Experience. I've worked with all the major lenders.
  • You may remain in your home during the short sale process.
  • Discreet Sales Process. No one will know your home is for sale. (some restrictions apply)
  • I am sympathetic to your needs and I will hold your hand the entire time.
Short Sale vs. Foreclosure:
 

 

SHORT SALE

FORECLOSURE

Purchasing A New Home

As soon as 2 years.

As soon as 3 years but normally 5 years.

Credit Score

As low as a 50 point hit if you keep your payments current.

The credit hit can range from a 150 to a 300 point reduction.

Credit History

 

A Short Sale will normally be reported on your credit as, “Paid in full, Settled” or “Paid, Settled for Less Than Owed”.

The Foreclosure will remain as a public record on your credit history for 7-10 years.

Deficiency Judgment

It is possible to negotiate with the lender to give up their right to pursue a Deficiency Judgment.

The bank has the right to pursue a Deficiency Judgment (except in those states where there are no Deficiency Judgments).

Deficiency Amount

In a typical Short Sale, the amount of bank losses will be less than in a Foreclosure. In the event you do have a Deficiency Judgment, the amount will normally be lower.

With the typical Foreclosure, the home will incur legal fees, repair and maintenance costs, insurance costs, etc… and in the end will normally sell for a lower price as an REO (bank owned home). This will create a larger deficiency amount.

My Recent Short Sale Success Stories:

 

City

Sold Price

Amount Owed

Lender

 

 

 

 

Rancho Santa Marg.

$301,000

$402,500

Mortgage IT Inc.

Laguna Niguel

$241,500

$462,600

Nations Choice Mtg

Irvine

$680,000

$739,000

Citibank

Irvine

$300,000

$402,000

Bank of America

Rancho Santa Marg.

$115,000

$269,950

Clarion Mortgage

Fountain Valley

$245,000

$421,200

Chase

Menifee

$262,000

$555,000

American Mtg

Garden Grove

$199,000

$440,000

Bear Stearns

Corona

$300,000

$639,000

Bank of America

Huntington Beach

$560,000

$710,000

Bank of America

Westminster

$225,000

$344,000

First Franklin Corp

Lake Elsinore

$176,000

$371,990

Wells Fargo

Aliso Viejo

$432,280

$567,000

Mylor Financial

San Clemente

$166,000

$247,200

Loan Link Fin.

Orange

$525,000

$705,000

Clarion Mortgage

Mission Viejo

$560,000

$812,000

Fremont Inv.

Costa Mesa

$385,000

$529,500

Bank of America

Irvine

$530,000

$651,500

Lehman Brothers

Santa Ana

$380,000

$589,000

Sbmc Mortgage

Mission Viejo

$580,000

$760,000

Bnc Mortgage

Winchester

$240,000

$465,500

Southstar Funding

Irvine

$613,600

$630,000

Wmc Mortgage

 

 

 

 

 
 
I've Completed Short Sales With These Major Lenders / Loan Servicers And More Using
The Mortgage Forgiveness Debt Relief Act.   
 

Things to Remember about Short Sales:

  • FREE, There Are No Costs To You.
  • Your Lender Will Pay All Fees
  • Experience Counts.  Normally, You Only Get ONE Chance at a Short Sale.
  • Your Consultation Is Confidential, Free, And There’s No Obligation.
  • You Can Cancel The Short Sale Process And Listing At Any Time.
  • A Short Sale Is A Dignified Solution
  • Eliminate All Your Back Taxes
  • Experience Real Debt Relief
  • You Have Nothing To Lose.
  • I Really Can Help.

 

Call Mike Pahua (949) 309-2400 for a Confidential No Obligation Consultation
  About Mike
 

Frequently Asked Questions (FAQ) about Short Sales:
 
 

  • Q. What is a Short Sale?
A.    A short sale is the process by which a homeowner can sell a house for less money than he actually owes on the mortgage(s). If the bank approves the discount on the mortgage, the home can be sold for a lower price without the seller having to come up with cash to cover the shortfall, and the mortgage is satisfied and the foreclosure process stops.
 
 

  • Q. Who pays the fees in a Short Sale?
A.    The lender will pay all the real estate commissions and the closing costs for the seller. The lender will often pay back property taxes and past due association dues if applicable. On rare occasions, the lender will require that the seller contribute something ($1,000 - $3,000) to the second lien holder (if any).
 
 

  • Q. How do I qualify for a Short Sale?
A.    The most important factor in qualifying for a short sale is having a legitimate hardship and being able to prove your inability to repay your loan(s). The short sale process is complex and often frustrating for the seller. It is important that the seller is flexible with the lender’s documentation requests and time lines.
 
 

  • Q. What is a legitimate Hardship?
A.    Your financial hardship can take many forms. The most common hardships include one or more of the following. Job Loss or Reduction of Income, Divorce, Illness, Mortgage Payment Increases, Debt Increases, etc… Every home owner’s situation is different so you are encouraged to call for a confidential consultation.
 
 

  • Q. How long does a Short Sale take?
A.    My quickest approval on a short sale took 8 business days (Citibank). My longest approval on a short sale took 18 months (Bank of America). Each lender has a different process and often the timeliness of a short sale is dictated by the individual bank negotiator we are assigned to.
 
 

  • Q. Why would a bank agree to a Short Sale?
A.    For a lender, approving a short sale avoids many of the costs associated with the foreclosure process. Attorney fees, delays from borrower bankruptcy, damage to the property, repair costs associated with resale, additional property taxes, property insurance, etc. all must be paid by the bank in a foreclosure until it’s resold. In a short sale, the lender is able to cut its losses by getting rid of the property faster and avoiding many of the expenses.
 
*This is not meant to be a complete or exhaustive advertisement about short sale or foreclosures. Nor, are we giving legal or tax advice in any way. Every situation is different and you are encouraged to obtain legal and tax advice from the appropriate professionals prior to pursuing the services of a short sale agent.* Mike Pahua specializes in and seeks to list:  Anaheim Short Sales, Anaheim Hills Short Sales, Brea Short Sales, Buena Park Short Sales, Costa Mesa Short Sales, Corona Del Mar Short Sales,  Coto De Caza Short Sales, Cypress Short Sales, Dana Point Short Sales, Fountain Valley Short Sales, Fullerton Short Sales, Garden Grove Short Sales, Huntington Beach Short Sales, Irvine Short Sales, Ladera Ranch Short Sales, Laguna Beach Short Sales, Laguna Hills Short Sales, Laguna Niguel Short Sales, La Habra Short Sales, La Palma Short Sales, Lake Forest Short Sales, Los Alamitos Short Sales, Mission Viejo Short Sales, Newport Beach Short Sales, Newport Coast Short Sales, Orange Short Sales, Placentia Short Sales, Rancho Santa Margarita Short Sales, San Clemente Short Sales, San Juan Capistrano Short Sales, Santa Ana Short Sales, Seal Beach Short Sales, Stanton Short Sales, Tustin Short Sales, Villa Park Short Sales, Westminster Short Sales, Yorba Linda Short Sales, All Orange County Short Sales, Anaheim Short Sale Realtor, Anaheim Hills Short Sale Realtor, Brea Short Sale Realtor, Buena Park Short Sale Realtor , Costa Mesa Short Sale Realtor, Corona Del Mar Short Sale Realtor, Coto De Caza Short Sale Realtor, Cypress Short Sale Realtor, Dana Point Short Sale Realtor, Fountain Valley Short Sale Realtor, Fullerton Short Sale Realtor, Garden Grove Short Sale Realtor, Huntington Beach Short Sale Realtor, HB short sale realtor, Irvine Short Sale realtor, Ladera Ranch Short Sale realtor, Laguna Beach Short Sale realtor, Laguna Hills Short Sale realtor, Laguna Niguel Short Sale realtor, La Habra Short Sale realtor, La Palma Short Sale realtor, Lake Forest Short Sale realtor, Foothill Ranch short sale realtor, portola hills short sale realtor, Los Alamitos Short Sale realtor, Mission Viejo Short Sale realtor, Newport Beach Short Sale realtor, Newport Coast Short Sale realtor, Orange Short Sale realtor, Placentia Short Sale realtor, Rancho Santa Margarita Short Sale realtor, RSM short sale realtor, San Clemente Short Sale realtor, San Juan Capistrano Short Sale realtor, Santa Ana Short Sale realtor, Seal Beach Short Sale realtor, Stanton Short Sale realtor, Tustin Short Sale realtor, Tustin Ranch short sale realtor, Villa Park Short Sale realtor, Westminster Short Sale realtor, Yorba Linda Short Sale realtor 
  
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