|
|
|
| |
Seller FAQ |
| |
|
|
Deed in Lieu of Foreclosure |
 Can a home seller sell
a home for less than its mortgage?
When does foreclosure begin? |
| |
|
Question: Can a home seller sell a home for less than its mortgage?
Answer: Yes,
in some case you can sell your home
for less than what you still owe on
the mortgage. But it is complicated
and depends on the lender. This situation
is known as a "short sale." Sometimes
a lender will be willing to split
the difference between the sale price
and loan amount, which still must
be paid.
A short sale may be more
complicated if the loan has been
sold to the secondary market because
then the lender will have to get
permission from Freddie Mac, the
two major secondary-market players.
If the loan was a low down
payment mortgage with private mortgage
insurance, then the lender also must
involve the mortgage insurance company
that insured the low-down loan. |
|
|
 |
 Back to top |
|
|
Question: When does foreclosure begin?
Answer: Lenders
will initiate foreclosure proceedings
when homeowners become delinquent in
their mortgage obligations, usually
after three payments are missed. The
lender will then notify the buyer in
writing that he or she is in default.
The lender can request a trustee's
sale or a judicial foreclosure, in
which the property is sold at public
auction.
A borrower can cure
the default by paying the overdue
amount and the pending payment after
the notice of default is recorded,
usually no later than a few days
before the property's sale.
Some sales allow
the successful bidder to take possession
immediately. If the former owner
refuses to vacate the premises, the
court can issue an unlawful detainer
that allows the sheriff to come out
and evict them.
Borrowers should do everything
they can to avoid foreclosure, which
is one of the most damaging events
that can occur in an individual's
credit historyc |
|
|
|
Back to top |
|
|
|
|
|
|
 |
HOME VALUATION |
| Monitor the value of your property, get an
idea of what your home is worth today. |
 Contact
Faye Today |
| |
 |
LETTERS FROM CLIENTS |
| Nothing makes me more proud and satisfied
to know that I've served my clients well. |
| Read
All |
| |
 |
FEATURED PROPERTIES |
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/1 |
| Sq ft |
| |
1,060 |
| Asking Price |
| |
$699,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/2 |
| Sq ft |
| |
1,003 |
| Asking Price |
| |
$349,500 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/2 |
| Sq ft |
| |
1,250 |
| Asking Price |
| |
$645,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
4/2 |
| Sq ft |
| |
1,950 |
| Asking Price |
| |
$894,950 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Bruno |
| Bed/Bath |
| |
2/2 |
| Sq ft |
| |
N/A |
| Asking Price |
| |
$312,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
S. San Francisco |
| Bed/Bath |
| |
4/2.5 |
| Sq ft |
| |
2410 |
| Asking Price |
| |
$868,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Carlos |
| Bed/Bath |
| |
3/2 |
| Sq ft |
| |
2050 |
| Asking Price |
| |
$1,385,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mate |
| Bed/Bath |
| |
1/1 |
| Sq ft |
| |
692 |
| Asking Price |
| |
$395,000 |
|
| Contact Faye |
|
|
 |
| City |
| |
San Mate |
| Bed/Bath |
| |
2/1 |
| Sq ft |
| |
918 |
| Asking Price |
| |
$435,000 |
|
| Contact Faye |
|
|
 |
| City |
| |
Foster City |
| Bed/Bath |
| |
3/2 |
| Sq ft |
| |
1,540 |
| Asking Price |
| |
$798,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/2 |
| Sq ft |
| |
N/A |
| Asking Price |
| |
$529,000 |
|
| Virtual Tour |
| Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/2 |
| Sq ft |
| |
1213 |
| Asking Price |
| |
$535,000 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
3/2.5 |
| Sq ft |
| |
1312 |
| Asking Price |
| |
$775,000 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
 |
| City |
| |
Redwood City |
| Bed/Bath |
| |
5/3 |
| Sq ft |
| |
N/A |
| Asking Price |
| |
$1,399,950 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
 |
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/2.5 |
| Sq ft |
| |
1,254 |
| Asking Price |
| |
$750,000 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
 |
|
| City |
| |
San Mateo |
| Bed/Bath |
| |
2/1 |
| Sq ft |
| |
1,130 |
| Asking Price |
| |
$935,000 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
|
|
| City |
| |
Redwood City |
| Bed/Bath |
| |
4/3.5 |
| Sq ft |
| |
2,951 |
| Asking Price |
| |
$1,626,000 |
|
|
Virtual Tour |
|
Contact Faye |
|
|
|
|
