ATTENTION AGENTS: EARN A 25% REFERRAL FOR SENDING ME YOUR ORANGE COUNTY SHORT SALE LISTINGS

ATTENTION AGENTS: Get a 25% referral fee at closing for sending me your short sale listings.

All I do are short sales. I have a team and the systems in place to handle the volume of lender contact needed to get them closed quickly. Check out my transaction history from the mls roster, I'm the real deal.

Short sales are very specialized and they require a great deal of attention.  If you're busy focusing on your standard sale business it may be time to refer your short sale leads. Rather than let them go send them to me and earn a referral with very little effort. Your clients will be in good hands.

I welcome your calls and questions.

Mike Pahua
Short Sale Specialist
Realty One Group
949-309-2400
cadre 01461649
Mike@ShortSalesOC.com
www.ShortSalesOC.com

*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 

  

NEW CA SHORT SALE LAWS 458 AND 931 PROHIBIT A LENDER FROM A DEFICIENCY JUDGEMENT WHEN THEY APPROVE A SHORT SALE IN CA FROM TOP OC SHORT SALE SPECIALIST MIKE PAHUA

CA SHORT SALE LAW UPDATES FROM http://www.shortsalesoc.com/

7/15/2011: NO DEFICIENCY JUDGEMENTS ALLOWED ON JUNIOR LIENS
Gov. Jerry Brown signed SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.
Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.
The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference. SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lien holders -- those in first position and in junior positions -- will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.
SB 458 contains an urgency clause making it effective upon signing.


1/1/2011: NO DEFICIENCY JUDGEMENTS ALLOWED ON ALL 1ST LIENS IN CA.
Senate Bill 931 (SB 931) pertaining to California short sale deficiencies was signed by the Governor on September 30th. Beginning January 1st, 2011 any first mortgages that accept a short sale will not be able to obtain a deficiency judgment against a seller after the completion of a short sale . If a lender provides written consent to a short sale on a first mortgage, they lender must accept the sales proceeds as full payment and discharge the remaining balance due on the loan. The new law will apply to all first mortgage loans secured by one to four residential units, including purchase money, hard money and refinanced loans. This law does not apply to 2nd or any other junior lien holders. Also, the new law does not prevent the lender from seeking damages for fraud or waste by the borrower.


2007: Mortgage Forgiveness Debt Relief Act of 2007 ****(Expires 12/31/2012)**** You may not have to claim income from forgiven debt after a short sale.
If you are a homeowner whose mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income.
Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness (Taken From IRS.gov).

1. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence.

2. The limit is $1 million for a married person filing a separate return.

3. You may exclude debt reduced through mortgage restructuring, as well as mortgage debt forgiven in a foreclosure.

4. To qualify, the debt must have been used to buy, build or substantially improve your principal residence and be secured by that residence.

5. Refinanced debt proceeds used for the purpose of substantially improving your principal residence also qualify for the exclusion.

6. Proceeds of refinanced debt used for other purposes -- for example, to pay off credit card debt -- do not qualify for the exclusion.

7. If you qualify, claim the special exclusion by filling out Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness, and attach it to your federal income tax return for the tax year in which the qualified debt was forgiven.

8. Debt forgiven on second homes, rental property, business property, credit cards or car loans do not qualify for the tax relief provision. In some cases, however, other tax relief provisions -- such as insolvency -- may be applicable. IRS Form 982 provides more details about these provisions.

9. If your debt is reduced or eliminated you normally will receive a year-end statement, Form 1099-C, Cancellation of Debt, from your lender. By law, this form must show the amount of debt forgiven and the fair market value of any property foreclosed.

10. Examine the Form 1099-C carefully. Notify the lender immediately if any of the information shown is incorrect. You should pay particular attention to the amount of debt forgiven in

Box 2

as well as the value listed for your home in

Box 7

.

The Short Sale Services I offer:

• Attorney Negotiated Short Sale Service at No Cost To Homeowner
• 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.

Contact Top Orange County Short Sale Realtor Mike Pahua at 949-309-2400

Get more short sale info and view success stories at http://www.shortsalesoc.com/

LUXURY ORANGE COUNTY REAL ESTATE. HIGH END CUSTOM HOMES FOR SALE IN ORANGE COUNTY

LUXURY ORANGE COUNTY REAL ESTATE SEARCH. BANK OWNED FORECLOSURES AND PRE-FORECLOSURE SHORT SALES ARE INCLUDED. Pictures, Address, Maps and More.
USE THE LINKS BELOW TO VIEW LISTINGS.
WE SPECIALIZE IN THE FOLLOWING AREAS:

Bear Brand in Laguna Niguel

Covenant Hills in Ladera Ranch

Crystal Cove in Newport Coast

Emerald Bay in Laguna Beach

Hunt Club in San Juan Capistrano

Marbella in San Juan Capistrano

Nellie Gail Ranch in Laguna Hills

Ocean Ranch in Laguna Niguel

Pelican Hill in Newport Coast

Shady Canyon in Irvine

Three Arch Bay in Laguna Beach

Turtle Ridge in Irvine

Se Habla Espanol, "Venta Corta" Orange County Short Sale Specialist / Realtor / Expert / Agent

Lllame para una consulta por telefono GRATIS y sin compromiso.



Para ver mis mas recientes ventas de "Short Sale" y obtener respuestas a las preguntas mas frecuentes vaya a http://ShortSalesOC.com



RECUERDE....... Solo tiene una oportunidad para hacer una venta corta o "Short Sale" por lo tanto tiene que asegurarse que esta trabajando con un Profesional de Short Sales.

Si usted no usa nuestra oficina, asegurese de que el agente que lo va a ayudar le demuestre su experiencia en ventas cortas.

Tenga cuidado a quien le confia su Venta Corta, venga con los expertos.



Por ultimo, pero igual de importante .... Hacer una venta corta es gratis para usted.

Las comisiones de los agentes y los gastos de cierre son pagados por el banco.



Este es un pequeno ejemplo de nuetras mas recientes ventas de "Short Sale":



Irvine: La vendimos en $ 613,000 / Se debian $ 630,000 / Prestamo con WMC Mortgage

Mission Viejo: Vendido por $ 580,000 / Se debian $ 760,000 / Prestamo con Financiera Southstar

Santa Ana: Se vendio por $ 380,000 / El Dueno debia $ 589,000 / Banco era SBMC

Irvine: Vendido por $ 530,000 / Se debian $ 651,500 / Prestamos eran con Lehman Brothers / Aurora

Costa Mesa: La vendimos en $ 385,000 / El Dueno debia $ 529,500 / Banco de America

Misision Viejo: Vendido por $ 560,000 / Prestamo era de $ 812,000 / Banco era Fremont

Orange: Se vendio en $ 525,000 / Se debian $ 705,000 / Prestamo con Clarion Mortgage

San Clemente: Vendido en $ 166,000 / Se debian $ 247,2000 / Prestamista era Vincular

Aliso Viejo: Se vendio en $ 432,280 / Prestamo era de $567,000 / Con Mylor Financial

Lake Elsinore: Vendido por $ 176,000 / Se debian $ 371990 / Banco era Wells Fargo

Westminter: Vendido en $ 225,000 / Se debia $ 344,000 / Prestamo con Franklin Primera

Huntington Beach: Se vendio en $ 560,000 / Se debian $ 710,000 / Con Banco de America

Corona: Vendido por $ 300,000 / Se debia $ 693,000 / Prestamo con Banco de America

Garden Grove: Se vendio en $ 199,000 / Se debian $ 440,000 / Prestamo con Bear Sterns

Menifee: La vendimos en $ 262,000 / Dueno debia $ 555,000 / Prestamo con US Financial

Fountain Valley: Se vendio en $ 245,000 / Debian $ 421,200 / Prestamo con Chase

RSM: Se vendio en $ 115,000 / Se debian $ 269,500 / Prestamo con Clarion Mortgage

Irvine: Vendido por $ 680,000 / Se debian $ 739,000 / Banco era Citibank

Winchester: La vendimos en $ 240,000 / Se debia $ 465,500 / Prestamo con Southstar

Irvine: Se vendio en $ 241,500 / Debian $ 462,000 / Prestamo con United

RSM: La vendimos en $ 301,000 / Se debian $ 402,500 / Prestamo con TI Inc

Anaheim: Se vendio en $282,000 / Se debian $ 540,000 / Banco era Chase

Laguna Niguel: Vendida por $ 242,500 / Dueno devia $ 475,000 / Prestamo con BofA

La Palma: Se vendio en $ 256,000 / Se debian $ 327,000 / Prestamo con US Financial



Y aun hay mas, pero ya no pierda su tiempo y llamenos lo mas pronto posible.



Para saber mas acreca de mi vaya a http://www.ShortSalesOC.com



Jose J Magdaleno / Realtor

Realty One Group

The Pahua Group

DRE # 01515629

Cell # 714-852-1558

E-mail Jose @PGcoastal.com

Search Riverside Foreclosures by City

Search Riverside Foreclosures by City

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Canyon Lake	Menifee	Sedco
Corona	Murrieta	Sun City
French Valley	Perris	Temecula
Homeland	Quail Valley	Wildomar
Lake Elsinore	Romoland	Winchester

 Search ALL Inland Empire Foreclosures

(All Riverside and San Bernardino County)

 

 

Provided By:

 

The Pahua Group

Realty ONE Group

Call Toll Free For A Showing Appointment: (866) 495-8548

WHY BY AN ORANGE COUNTY FORECLOSURE? SAVE MONEY!

Have you considered purchasing a foreclosure? 

Do you think it might be a hassle?

If you have the ability or the means to do a little cosmetic work then purchasing a foreclosure may be for you.  Of course, some bank owned homes are trashed but most are not.  Most only need paint, carpet and a good cleaning to be back in shape.  The best part about foreclosures it that they normally sell for about 5-10% (sometimes much more) below what a comparable home in the same neighborhood would sell for. This would represent a savings of 25k to 50k in a $500,000 neighborhood. 

Check out what the foreclosure market has to offer.  We have them all separated by city:

Search Orange County Foreclosures by City

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Aliso Viejo	La Palma	Placentia
Anaheim	Ladera Ranch	Rancho Santa Margarita
Anaheim Hills	Laguna Beach	Rossmoor
Brea	Laguna Hills	San Clemente
Buena Park	Laguna Niguel	San Juan Capistrano
Corona Del Mar	Laguna Woods	Santa Ana
Costa Mesa	Lake Forest	Silverado/Modjeska
Coto de Caza	Los Alamitos	Seal Beach
Cypress	Midway City	Trabuco Canyon
Dana Point	Mission Viejo	Stanton
Fountain Valley	Portola Hills	Sunset Beach
Fullerton	Newport Beach	Surfside
Garden Grove	Newport Coast	Tustin
Huntington Beach	North Tustin	Villa Park
La Habra	Orange	Westminster
Irvine	Orange Park Acres	Yorba Linda

PROVIDED BY:

MIKE PAHUA

REALTY ONE GROUP

949-309-2400

DRE # 01461649