Are You in Default or Foreclosure ?

Mortgage Debt Forgiveness 

Any debt discharged after Jan 1, 2007 for a qualified principal residence will not be taxable. This could have two fold effect on the housing market. By saving the tax, it will help troubled homeowners to get back on their feet so they can go on with life. On the other hand it could further stimulate the wave of foreclosures, for people who now do not wan to keep their house as the prices have dropped making owning a house a sour investment.

For detailed information on the bill visit


Preventing Foreclosure

Default can turn into foreclosure, if it is not taken care in limited time that is allowed. From the time of recording of default notice, home owner have one hundred and six days to save it from trustee sale. Events happen in a following sequence:

  • Recording of notice of default
  • Every month trustee will send a notice for three months
  • After that they will schedule a trustee sale in twenty one days and publish the sale in major news papers for 3 weeks.
  • Home owner have the right of redemption of the property up until five days before the trustee sale.

If you are behind in payments, their in nothing like acting in a timely manner. Their are many avenues to stop the foreclosure. We can educate you and give you the information so you are guided to the right path. Contact us as soon a s possible.

Before loosing the property to foreclosure, one must think about the following options:

Forbearance: If you have certain emergency where you are unable to make payments for certain number of months, if is possible to get a postponement for partial or all payments for a few months.

Note Modification: A note is a signed instrument that acknowledges a debt and a promise to repay. Some times a lender forgives certain amount of money in order to put home owner on the normal track of payments. Although the criteria for this are very strict and are dependent upon the beneficiary's approval, it is worth trying.

Short Sale: This is one of the options, for people who owe more than the property value and  are unable to make payments or to find any other resolution. It may cause a 1099-C IRS tax consequences but will give an option to settle with the lender called "paid as agreed status". Homeowners must consult with their tax consultant. If some one have a mortgage payment of $5,000 a month and are unable to keep it up due to some hardship in life, moving to an apartment or a rental home at half the price could be the best option.

Repayment plan, mortgage protection plan, reverse mortgage, extension-if scheduled for trustee sale are some of the other options. One must start to think and act on the available options as soon as the circumstances change. Most people are afraid to take the next step and lost time cost more than the original loan. It is important to be proactive.


Foreclosure Listngs In Orange County CA

To enhance your buying and selling experience, it’s our job as real estate professionals to provide you with as much valuable information as possible. It is essential that the buyers or sellers be aware of all aspects of the real estate market before making a major decision. Whether it be through newsletters, checklists or news articles, we are here to make this process stress-free and rewarding. Please access our free reports today!

Foreclosure Property Buyers

Are you in a market to buy a foreclosure, we can assist you in searching for the property and the transaction of your primary home purchase! We offer information about daily Orange County foreclosure listings for free? This offer is only available to our VIP clients. To participate in this program at no charge, please contact us.

If you are looking for foreclosure purchase, let us know when, where, what and how much. It is important to have knowledgeable person to assist you in your purchase who can be helpful in this process.

According to California Code of Ethics we can only represent you as a buyer if you are buying to live in the property. Realtors can not represent an equity purchaser for a single family home or 1-4 units owner occupied as this requires a bond and there are no bonds available in California. This principle does not apply to >4 units.

Property Owners in Foreclosure

Some unforeseen event can push any one into financial instability, threatening the homeownership. One should look at the situation practically and not ignore its existence. We can assist give you with the information about the options available. Contact us as soon as possible as time is of essence. Call 714-932-9409 for immediate information.

We'd love to hear from you! and help you in the search of foreclosure property in Orange County California. We are focused in Real Estate and homes for sale in cities of Anaheim, Anaheim Hills, Brea, Buena Park, Costa Mesa, Fullerton, Garden Grove, Westminster, Irvine, La Habra, Placentia, Orange, Tustin, Yorba Linda, Whittier, La Mirada.

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Foreclosure Activity for Orange County California

Foreclosure Activity for Orange County California

Notices of Default and Notices of Sale effecting Orange County California Real Estate continue to increase every month. July 2007 brought in the highest numbers per month during past 12 months, leading to higher number of homes being foreclosed and ending up back to the benificiary as REO ( Real Estate Owned) properties.

Sunday, December 02, 2007

Monthly Notices of Default and Notices of Sale

Recent Trends 


Sept.  06  784
Oct.    06  814
Nov.   06  955    
Dec.   06 1078
Jan.    07 1022
Feb.    07 1098
Mar.    07 1241
April   07 1323
May    07 1424
June   07 1580
July    07 1800
Aug.   07 1921
Sept.  07 1524

ORange County CA Foreclsoure Activity - 12 Month Statistics


Orange County CA Foreclosure Report