subject: Laguna Niguel Short Sale Homes [print this page] Approved Laguna Niguel short Sale homes are becoming more accessible as the banks go through their inventory-reduction process and review and accept a prospective buyer's offer only to see that the original buyer has moved on or can't qualify. In these cases, the short sale is "approved" and in most instances a new buyer can submit an offer and get a response within a much shorter period of time. These can be the best short sale properties in Laguna Niguel to make a purchase offer on.
What is a Short Sale?
A Short Sale is the sale of a home when sales proceeds are not sufficient to pay off the existing loan(s) but the lender(s) accepts a discounted payoff to fully satisfy the loan. A lender would usually rather negotiate a settlement today with a Short Sale than be forced to incur the expense of a foreclosure later. Consider this: the lender wants to limit their losses in the future just as badly as you do.
At the same time, the existing lender pays for all sales fees. This includes sales costs, commissions, escrow, title and any repair costs. The loan shows as "paid" with a zero balance on your credit and you avoid foreclosure.
What is a financial hardship?
A hardship is a situation that has a life changing effect for the borrower that results in an in-ability to pay the mortgage debt in either, short or long term. Some examples are:
* Separation or Divorce
* Medical Bills
* Inability to work due to health reasons
* Death of Spouse
* Job Relocation
* Reduced Income or Unemployment
* Business Failure
* Adjustment in mortgage payment or unforeseen increase in living expenses
I am current on my mortgage, will my lender consider a Short Sale?
The answer is, maybe. Some lenders will accept a Short Sale file for approval on loans that are not delinquent. Other lenders will not accept the file until the loan is delinquent. We can put your Short Sale file together within a couple of days and submit it for approval. (Remember, there is no charge for this). That is the best way to determine if your lender will accept a file for approval on a loan that is current.
Situated between Laguna Beach and Dana Point, Laguna Niguel offers dramatic homes for sale featuring amazing city lights, hillsides, canyon and ocean views. Set amongst immense rolling hills, greenbelts and mature trees, Laguna Niguel Real Estate offers single family homes, townhomes, and condominiums for sale.
The name "Laguna Niguel" stems from the Spanish word "Laguna," which means lagoon. The second word, "Nigueli," was the name of a Juaneno Indian village once located near Aliso Creek. Laguna Niguel became the 29th city in Orange County in December of 1989.
