You clung to your Laguna Beach home like glue. No way were you leaving the place you so dearly cherished. But the stack of delinquent mortgage payments got too heavy. Pushed you straight through a trap door. Now you’re in the pit. The mortgage pit. Debt collectors are hissing like snakes. Foreclosure fiends are clawing at you. How will you get out of this trap?

Luckily, there’s an escape route. It’s called short sale – a program that lets you sell your home for less than the total amount owed. Protects you from the hissing debt collectors and foreclosure fiends. Frees you from the pit. Get ready!

Launching Your Escape

Remember, a short sale isn’t a magic amulet. Plan on digging in your heels and expending much personal energy. You’ll begin with three documents, all of which should be signed and dated.

• A financial worksheet listing all of your monthly expenses. The more, the merrier.
• A hardship letter explaining why you got behind. You’re making your case here, so let the details flow.
• A letter authorizing your Realtor to access certain account information. The letter should include the last 4 digits of the borrower’s social security number, the complete account number, and property address.

What Else You Should Know

• The clock is ticking, so dawdle at your own risk. If the short sale doesn’t close within 30 days, chances are you’ll need to start the approval process over. Now wouldn’t that be a hoot.
• Send all inquiries, (and if necessary, bribes), to the assigned negotiator. The identity of this individual will be revealed during the introduction call.
• A short sale is never an inside job. This means, the property may not be purchased by anyone with close ties to the seller. This includes but is not limited to family members, friends, neighbors, personal trainers, and bookies.
• In certain cases, investors and mortgage insurance companies require lenders to sign an unsecured note for part or all of the difference between sale proceeds and the total amount due. This information is specified as part of any response to a short sale offer.

Well there it is. You see? There is an escape from the mortgage pit. And if you’re considering a short sale for your Laguna Beach home, I want to make sure you’re good and prepared for the journey.  I’ll make certain you get started on the right track. And stay on the right track. As an experienced professional well-acquainted with this prime beachfront community, I can answer all of your questions and help you discover the numerous opportunities the Laguna Beach Real Estate market has to offer.

Feel free to contact me at 949.922.8490 or hillary@thecoastalpropertyexperts.com.

Until next time, keep it classy, Laguna.

You made that mortgage payment again! Took that hard-earned greenery from your bank account and whisked it to your friendly lending institution. Another mortgage payment for your beautiful Laguna Beach home is successfully in the books! Congratulations! You’ve purchased one more month of home ownership.

Then about a week or so later you get the call. It is from your friendly bank rep. “Where’s our money,” probes Mr. or Ms. Rep, ever so politely. “What are you talking about? I sent it about a week ago.” You tell them where it was sent. “Uh…That’s not our address,” corrects the rep. “It’s not even us.”

“But I got this letter. It told me to forward my mortgage payments to this new company. Said my loan was sold to them.”  Sympathetically, the rep tells you the letter was bogus. The loan was not sold. Realization crashes down on you. Sorry, Charlie. You’re the victim of the latest mortgage scam.

Incredibly, scenarios just like this are taking place not only in Laguna Beach or Orange County, but nationwide. And it is happening more and more often.  Basically, a con artist fires off an ‘official’-looking letter to an unwitting homeowner. The letter instructs the wide-eyed recipient to start sending their mortgage payments to a new company. Supposedly, this second lender has taken over the management of your loan. Just one problem — the new company is 100% fictitious; a fraud.

Borrowers who fall for this scam typically relinquish a few unintended donations before they realize a big clump of wool has been yanked over their eyes. By then, they’re one or more payments in arrears. And the real lender is stepping up the phone calls.

These skillful con artists are banking on a single fact — most borrowers have no idea what to expect when a loan is sold legitimately to another institution. But, of course, you won’t be one of the people in the dark. Why? Because we’re offering you, free of charge – Scam Prevention 101. Pay attention, or pay the price.

Legally, you must receive two letters when there’s a management transfer. The first from the original loan administrator such as Bank of America or Wells Fargo. This tells you about the transfer, as well as where and when to re-direct your mortgage payments. About a week later, you’ll receive a second letter. The sender is none other than the new management company. They’re giving you a big welcome, as well as all the loan details you ever could want to know. They might even generously pack in a few payment coupons and company envelopes, just so you don’t get stuck paying for these items. Remember, one letter doesn’t count. If you don’t get a pair, become Sherlock Holmes and investigate.

Make sure both letters include your loan number. If this crucial info isn’t supplied, or if there’s a mismatch, call your original servicer for an explanation.

Even if everything checks out, contact the original servicer anyway. You just never know.

Congratulations! You’ve passed Scam Protection 101!

But we’re still available for questions, so feel free to reach out to us. After all, we want to make sure you’re good and prepared when you buy your Laguna Beach home. Naturally, we’ll be delighted to help you get started. As experienced professionals well-acquainted with this prime beachfront community, we can answer all of your questions and help you discover the numerous opportunities the Laguna Beach real estate market has to offer.

Until next time, keep it classy, Laguna.

Feel free to contact us at Prudential California Realty 1.949.922.8490 or email: hillary@thecoastalpropertyexperts.com.

Regards,
Hillary Caston & Associates – The Coastal Property Experts

Here are just a few homes new to the Laguna Beach Real Estate market since the beginning of the month. Do any of these spark your interest?  2 Emerald Bay Beauties, a Plantation inspired REO in “The Loop”, and an Ocean Close lot with approved plans for a Gregg Abel cottage reminiscent of “Old Laguna”.

Click here now to see all the details for these homes!

21056 Laguna Canyon Rd, Laguna Beach:

Listed at $969,000

Large, 13,740 Sq. Ft. Lot, with main house and studio apartment

200 Fern St., Laguna Beach:

 Listed at $899,000

Secluded lot with plans in Woods Cove

1316 Cerritos Drive, Laguna Beach:

 Listed at $1,149,000

4 Bedroom Temple Hills Home

3035 Bern Drive, Laguna Beach:

 Listed at $1,329,000

Single Story pool home with views on a 28,350 sq. ft. lot

974 Del Mar Avenue, Laguna Beach

Listed at $1,995,000

Panoramic Views from this 3300 Sq. Ft exquisite home

723 Emerald Bay, Laguna Beach

Listed at $3,995,000

Soft European influences adorn this 4 Bedroom home

73 Emerald Bay Drive, Laguna Beach

Listed at $10,995,000

5 Bedrooms / 7 Baths and prime Main Beach location

Newly constructed in 2008

31302 Monterey Street, Laguna Beach

REO Listed at $1,400,000

Period charm throughout this 2222 Sq. Ft. Home for Sale

If you would like a complete property profile, simple CONTACT US - be sure to reference the MLS# and we will email a complete Agent Report to you.

Duplex in Capistrano Beach

This could be an opportunity to live in one unit and rent out the other. There have been over $220K in upgrades done to the upper level.

Capo Beach Duplex for Sale on the Sand

MLS# S621982

$4,399,000

8 Beds / 6Baths / 3491 Total Sq. Ft.

Duplex on the sand

Cape Cod Style Home in Monarch Beach

Cape Cod Style Dana Point Home

MLS# S621806

$975,000 – $1,075,000

3 Beds / 4 Baths / 2302 Sq. Ft.

Just steps to the sand in Dana Point

Short Sale in Monarch Beach

Dana Point Short Sale in Monarch Bay

MLS# U10002765

4 Beds / 4 Baths / 3312 Sq. Ft.

Short Sale $1,950,000

Cape Cod Style Home and Guest Casista on 16,500 Sq. Ft. Lot

Short Sale in Laguna Beach:

Laguna Beach Commercial Zoned Home for Sale

MLS# S621296

4 Beds / 3 Baths / 2898 Sq. Ft.

Short Sale $1,900,000

Historic Storybook Castle – zoned commercial, currently used as a residence. Enjoys Mills Act property tax reductions.

Please let me know if you need additional information on any of these properties. I would be happy to send you a property profile report.

Below are 2 properties that just came onto the market and are great deals for someone interested in a Laguna Beach Cottage on one of our Artist’s street, or a 4-Plex income production, ocean view rental property.  If you would like more information on these properties, please visit the website at http://www.TheCoastalPropertyExperts.com OR call me directly at 949-922-8490, Hillary Caston.

480 Broadway Street, North Laguna Beach 4-Plex

INVESTORS ATTENTION!

Priced at  $1,350,000

PRIME NORTH LAGUNA INVESTMENT PROPERTY. Excellent, easily rentable, income property with ocean and canyon views. Fantastic location overlooking beautiful downtown Laguna Beach. Short walk to the beach, movies, restaurants and Pageant of the Masters from these 4 one-bedroom apartments. Each unit features hardwood floors, a full kitchen with eating area, living room, bathroom with shower tub, bedroom and sunny view decks. Laundry and storage are available to all tenants as well as one assigned off street parking space. All units are metered seperately for gas and electricity. 

675 Wendt Terrace, Laguna Beach, CA

Priced at $798,000

3 Bedroom / 2 Bath / 752 Sq. Ft on a large lot 6213 Sq Ft

This cottage is located in central Laguna on one of the ‘Artist’s Streets’ within close walking distance to the high school, downtown and the beach. It is a classic 1940 beach cottage with three bedrooms and one and one half baths. Features include some hardwood floors, a wood burning fireplace, an oversize one car garage, driveway parking, ocean and Catalina Island views from an updated kitchen, the living room and the west facing deck. The cottage is nestled among trees gving it a feeling of privacy. Interested parties should measure size of house and lot to satisfy their needs. Accuracy of information in listing is not warranted.

 TAKE THE SURVEY AND BE ENTERED TO WIN:

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1580 Sunset Ridge, Laguna Beach, CA

Priced at $4,495,000

4 Bedrooms / 4 Baths

4530 Square Feet with inspiring views of the Pacific Ocean

MLS# L32150

Listed by Gary Boisen and Michael Gosselin of Surterre Properties

Taking full advantage of the awe inspiring views of the Pacific Ocean, Catalina Island and the north coast, this stunning contemporary home will impress the most discriminating buyer. The versatile open floor plan has approx. 5,218 of space including 4,530 sq ft. of living space with three bedrooms and three and one-half baths, gourmet kitchen, media room, family room, home office and a complete guest residence that could can function as two additional bedrooms, and includes a kitchen. Quality features include mahogany flooring and cabinetry, stainless steel interior and exterior railings, Fleetwood windows and disappearing doors, personal elevator, 3-car garage, and the extensive use of natural stone inside and outside. Expansive view decks and a private outdoor living room featuring a wood burning fireplace and built-in BBQ provide for the finest indoor/outdoor living experiences. 

Want more Information?….Contact Us!

31889 Circle Drive, Laguna Beach, CA

Originally priced at $9,850,000: Newly listed and Reduced!

Now Priced at $6,475,000

3 Bedrooms / 5 Baths

2500 Square Feet

MLS# L30507

Listed by Elizabeth Comerford of Hom Real Estate Group

South Laguna meets the Hamptons in this incredible oceanfront renovation. Situated on a private street, this elegant cottage style offers all the comfort and serenity you could hope for along with all the benefits you would expect from an oceanfront location. The extremely versatile floor plan works well for any lifestyle and is particularly well suited to entertaining. The expansive great room with living and dining areas and gourmet kitchen complete this dream home. All secondary rooms are en suite, including a sumptuous master suite, office, guest bedroom and family/media room that could also serve as an additional master suite with closet, wet bar and relaxing oceanfront deck. The finest materials have been used throughout, including distressed walnut flooring, honed limestone countertops and breathtaking Fleetwood sliding pocket doors in living room. SELLER IS VERY MOTIVATED … AMAZING PRICE REDUCTION FOR AN OCEANFRONT WITH THIS QUALITY AND CRAFTSMANSHIP.  

Want more Information?…Contact Us!

23 Lagunita Drive, Laguna Beach

Priced at $10,900,000

5 Bedrooms / 5 Bath

4100 Square Feet with Ocean View in the community of Lagunita

MLS# L29329

Listed by John Stanaland of First Team Estates

Romantic Oceanfront Spanish Hacienda in the prestigious gated community of Lagunita. The estate boasts five large bedrooms, five and a half baths with ornate Spanish tile and tons of authentic detailing. Perfect for entertaining, the large family room with wet bar steps out to an incredible sun drenched patio with BBQ and spa. This phenomenal property leads directly out to beautiful lush landscape with large wispy palm trees to the gorgeous sandy beach of Lagunita , and just steps to famed Victoria Beach. Panoramic ocean, rugged coastline, and mesmerizing Catalina sunset views. Truly a work of art!

Want more Information?…Contact Us!

http://www.TheCoastalPropertyExperts.com

2330 Crestview Drive, Laguna Beach, California

3BR / 4BA, 3785 Square Feet

Listed for $6,500,000

Listed by Bill Wedmore and Michael Spindle of Prudential Treausre Island Real Estate

Want to view the home? Call Hillary direct at 949-922-8490

Hillary Caston freaks out in the elevator of this one-of-a-kind custom built Laguna Beach ocean view home. The owner did not build this home with the intent to sell, so every detail is included for you!

Nestled in the hills of Laguna Beach, this prime piece of real estate was constructed with well thought-out amenities. Home furnishing designed by nationally famous Craig Wright. Could owner financing be just what you need to make this your next home?

You’ll NEVER believe how she got out of this one!

Click Here to go to the Website for more property details

Please….leave a comment below and tell us what you love most about this penthouse in Laguna Beach!

Location: 31423 Coast Hwy P2, Laguna Beach, CA 92651

2Bedroom, 2Bath Oceanfront Condo with 1579 Square Feet

Price: $2,750,000

Listed by Suzanne Robinson at P.C. Properties

Want more information? Give Hillary a call direct at 949-922-8490