Buying After Foreclosure

shannonjones Featured Articles , Foreclosures , Real Estate Leave a Comment

Foreclosure is an awkward word in the world of homeowners. It represents a lot of disappointment and unhappiness with the entire process, which normally is a great source of pride and joy. The last great recession left a lot of families in this position. Despite many having recovered their credit, there’s a notable reluctance to go back into the process of buying a home.  Getting comfortable with the idea of a mortgage and homeownership is now a challenge for both a cautious buyer and their Realtor to tackle together. Once Foreclosed, Twice Shy Homeowners who have lost their homes to …


How Do I Find Foreclosure Properties?

Shannon Featured Articles , Foreclosures

We are often asked by potential buyers about the “shadow inventory” of foreclosed properties. How do you find out about the bank-owned properties that haven’t yet come on the market? There are many homes in the process of foreclosure that will be listed in the Multiple Listing Service (MLS) at some point, but they’re not all bank-owned. Some of them are in “pre-foreclosure” – meaning there has been a “notice of default” filed against the property owner. Others are scheduled for trustee sale. Still others have been foreclosed on or have been purchased at atrustee sale by third parties. Often …

Facing Foreclosure in Long Beach?

Shannon Featured Articles , Foreclosures , Short Sales

If you behind on your mortgage payments or facing foreclosure of your Long Beach home, you may be wondering what your options are. My team and I have worked with lots of homeowners in this situation. We’ve been able to help homeowners successfully avoid foreclosure even when the trustee sale was just around the corner. One of the first options that many homeowners explore is a loan modification. Sometimes, though, even if the bank agrees to reduce the payment, it’s not enough to reduce the financial stress on the homeowner. With negative equity, refinancing can be a challenge. Doing a …


2075 E Appleton St #18

Shannon Featured Properties , Foreclosures , Long Beach Condos

SOLD! Charming condo in the Alamitos Beach area of Long Beach. The spacious living room has hardwood floors and is wired for surround sound. The kitchen features a new vinyl floor, updated countertops, & built-in microwave. There is one large bedroom, and a bonus room that could be used as a bedroom or home office. Lots of storage in the hallway closets. Secure parking garage with storage lockers and assigned/deeded parking space. Central courtyard with mature landscaping and a community laundry room. Building exterior scheduled for painting this summer. Walk to restaurants, shops and the beach from this convenient Alamitos Beach …


Long Beach Foreclosures Can Be a Good Deal

Shannon Featured Articles , Foreclosures , Long Beach Condos , Real Estate

If you’ve been considering buying a home in Long Beach, California, this could be a good time. Right now, there are a number of distressed properties on the market with reasonably low prices. Both short sales and foreclosures can represent good deals for Long Beach home buyers and the fact that interest rates are low means that monthly mortgage payments are sometimes about the same amount as you would pay for rent.

Long Beach CA Short Sale Expert Offers Advice to Struggling Homeowners

Shannon Featured Articles , Foreclosures , Short Sales

If you or someone you know is considering a short sale of your Long Beach area home, it’s important to get all the facts. Many times when people fall behind their mortgage, they get bombarded with information and solicitations but aren’t sure where to turn. If you do nothing, the eventual result will probably be foreclosure, which could damage your credit and make it difficult to buy a home in the future. Unfortunately, there are a number of companies out there who prey on struggling homeowners. There are foreclosure alternatives you can pursue for free. Obtaining a loan modification on your …

Thinking of buying a fixer? Consider a 203(k) loan!

Shannon 203(k) loans , Buying a Home , Featured Articles , Foreclosures

If you’ve ever dreamed of buying a fixer and making it your own but lacked the money to do the actual fixing, you may wish to consider buying with a 203(k) rehabilitation loan. We come across homes for sale in Long Beach, Lakewood, and Signal Hill all the time that need lots of work — short sales, foreclosures, probates and even regular sales. Often, buyers pass on those fixer-upper homes because they wonder where the money would come from to fix them. Homes for sale that are “turnkey” or move-in ready fetch top dollar even in today’s market, while fixers …

Strategic default may not be strategic

Shannon Featured Articles , Foreclosures , Short Sales

Recently, I’ve heard the term “strategic default” being used more frequently from homeowners in Long Beach, Lakewood and surrounding communities. It shouldn’t be a surprise. With more than 25 percent of homeowners now owing more than what their homes are worth and millions more having a hard time paying the mortgage, it’s becoming more common for homeowners to consider just letting their home go to foreclosure. If you are having trouble paying the mortgage on your Long Beach home and you’re wondering what you should do, it’s important to get all the facts. You may wish to seek legal advice …

Wrigley real estate

5 Tips for Long Beach Short Sale Buyers

Shannon Featured Articles , Featured Properties , Foreclosures , Lakewood , Long Beach , Short Sales

If you are considering buying a short sale home in Long Beach, Lakewood or surrounding communities, here are 5 tips to help you successfully close the sale: 1. Short sales require lots of patience. If you have a tight timetable for moving, you may want to skip short sales. Make sure your agent knows who the lienholders are and what their typical turnaround time is so you can evaluate whether this is a transaction that will meet your time requirements. 2. Get yourself educated! Ask your Realtor to explain how the process works and what you can expect. 3. Understand …

Foreclosure threatening a happy holiday?

Shannon Foreclosures , Lakewood , Long Beach , Short Sales

If a foreclosure is threatening your happy holiday, you should know you’re not alone. Millions of Americans are in the same situation, and it is my goal to help ease the stress that comes with the threat of foreclosure for as many as I can reach. As a CDPE-designated agent, I help struggling homeowners navigate the various options they have to avoid foreclosure. One possible option is a mortgage modification, which makes monthly payments more affordable. Another option may be to consider short sale. A short sale can be an excellent solution for homeowners who need to sell, and who …