east county san diego

Home For Sale in Jamul! 4 BED, 3 BATH!

3107 Calle Allejandro, Jamul, CA 91935
MLS # 140048357

4 BED, 3 BATH, 3485 SQFT.

$775,000 – $839,000

Come home to this 4 bed, 3 bath, 3485 sq ft stunner nestled in beautiful Jamul!

 Enjoy a large wrap-around porch to sit and look at the beautiful morning and evening views. With a vast kitchen, enjoy a 6 burner stove, large center island, and more! Master bedroom has an extra 16×12 room that can be converted into an office. Large living to with open floor plan! Enjoy a large pool area with large BBQ, great for entertaining and gorgeous views. Pool area also has surround sound!
For more information or to schedule a private viewing, contact STEPHEN NISSOU at:
Office 619-873-2772
Cell 619-250-4541
Email Stephen@StephenNissou.com.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Your Local Real Estate Expert,
#Realtor #realestate #SanDiego #Jamul #SanDiegoRealtor #SanDiegoRealEstate #ElCajon #KWEC #KellerWilliamsRealty #KellerWilliamsElCajon #KWRealty #StephenNissou #NissouRealtyGroup
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The Foreclosure Process

Foreclosure

A Foreclosure is defined as “the process of taking possession of a mortgaged property as a result of the mortgagor’s failure to keep up mortgage payments.” To simplify, it’s the act of a home being taken away from you due to your failure of paying the mortgage payments.

When someone buys a home, they sign a mortgage or deed of trust. This document puts a lien on the property, making the loan a secured loan. When the lender loans you money without any type of collateral (credit card debt, etc.) they can take you to court for failure of payment.

What types of foreclosures are there?

There are two different types of foreclosures in the US – Judicial or Non-judicial. In a Judicial Foreclosure, the lender will seek to foreclosure by filing a civil lawsuit against the borrower. It is handled through the local court system, where the court appoints a referee to conduct the foreclosure auction on the courthouse steps. The lender will record a lis pendens with the country clerk, which becomes a lien on the property and gives notice to the pending foreclosure auction. The court will grant judgment permitting the lender to conduct the foreclosure auction. This process takes up to 4-8 months to complete.

The second type of foreclosure is a non-judicial foreclosure. It is followed by the deed of trust states. A deed of trust is an interest in real property to a third- party to hold as security for repayment of a debt. The trustee has the authority to initiate foreclosure proceedings by virtue of power of sales. The trustee will record a notice of default with the county clerk and gives notice of the impending foreclosure. It also grants the borrower a period of time in which to object the lenders claim o pay what he owes. The borrower may not stop the foreclosure after the expiration of this time period.  After the expiration of this time period, the trustee will record a Notice of Trustee’s Sale with the county clerk, which will establish the date, time, and place of the foreclosure auction. It can take up to 12 months to complete the foreclosure, depending on the state.

What is the Foreclosure process?

There are five stages of the foreclosure process.

Stage 1: Missed Payments – Foreclosure starts when a borrower fails to make timey mortgage payments. This can be due to financial hardships, such as unemployment, divorce, death, or medical related issues. Other times, borrowers decide to stop paying because the property mortgage exceeds the value of the home, or they are tired of managing the property.

Stage 2: Public Notice – After about 3-6 months of missed payments, the lender makes a public notice with the County Recorder’s Office, which indicates that the borrower has defaulted on their mortgage. This is also known as a Notice of Default. This official notice allows the borrower to be aware that they are in danger of losing all legal rights to their property and they may be evicted from the premises.

Stage 3: Pre-Foreclosure – After you receive Notice of Default the borrower will enter the “pre-foreclosure” phase, which takes anywhere from 30-120 days. The borrower can try to work out an arrangement with the lender via a short sale or pay the outstanding amount owed on the property. If the borrower decides to pay off the default during this phase, foreclosure ends and the borrower avoids home eviction and sail. If it is not paid, the foreclosure continues.

Stage 4: Auction – If the default is not remedied, the lender sets a date for the home to be sold at a foreclosure auction. It is recorded with the County Recorder’s Office that is posted on the property. Auctions are sometimes held at the courthouse, or the property itself. In some states, the borrower has the right of redemption, where he can come up with the outstanding cash and stop the foreclosure process up the moment the home will be auctioned off. At the auction, the home is sold to the highest cash bidder. Many lenders make agreements with the borrower (called the “deed in lieu of foreclosure) to take the property back because of the limited amount of buyers who can pay cash only for the property. Sometimes, the bank will buy the property back at the auction.

Stage 5: Post-Foreclosure – If a third party does not purchase the property at the foreclosure auction, the lender will take ownership of the property and it becomes known as a bank-owned property or REO, Real Estate Owned. Bank-owned properties are then listed with a local real estate agent for sale on the market, or some lenders prefer to sell their properties at a liquidation auction.

What are your rights as a tenant during a foreclosure?

If there are tenants in the house that was foreclosed on, the new owner has to honor the existing lease. When the tenants have a month-to-month lease the new owner can evict the tenants or former owner/landlord. You can offer the existing tenants a new lease or rental agreement, or begin the eviction process.

 

Your Local San Diego Real Estate Expert,

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Top 8 Things To Ask Your Lender During The Application Process

 Mortgage Lender Application ProcessThe Loan process can be somewhat daunting if you don’t know what to look for, or who to ask questions to. Here are the top 8 things I tell all my clients when they are ready to go through the application process for their loans.

1)      What documents will I need in order to receive full mortgage approval?
Residence history, marital status, credit obligations, down payment, income, and employment verification are the most important information you will need for a full approval.
2)      How long will the entire process take?
Communication during the process is essential. As long as you ask all questions ahead of time, and get all of your documents together during the process, then the process should be fast and easy. Your loan officer should be able to give you a total amount of time for how long it will take to close on your mortgage.
3)      Are my taxes and insurance included in the payment?
If you include taxes and insurance into your payment then you will have a higher monthly payment to the lender, but you also won’t have to worry about coming up with large sums of money to pay the taxes when they are due.
4)      Will my payment increase after closing?
Try to choose fixed interest rate loans. This will allow you to never have your loan payment increase over the life of the loan. If your taxes and insurance are included in your payment, then your total payment will change over time due to the changes in your homeowner insurance and property taxes.
5)      How do I lock in my interest rate?
Most loan officers pay close attention to market conditions, as rates move several times a day. It’s good to know the terms and what the process is for locking in your interest rate.
6)      How long will my rate be locked in?
Typically, rates are priced with a 30 day lock. You can choose to hold off temporarily if you are purchasing a short sale or foreclosure listing. The shorter the lock period is, the lower the interest rate. The longer the lock period, the higher the interest rate.
7)      How does my credit score affect my interest rate?
If you have any recent changes to your credit score, be sure to get specific answers. There are many key factors that can influence fluctuation in your credit score. Fill your loan officer in on anything you can think of that might be tied to your credit.
8)      How much do I need for closing?
Ask your loan officer to estimate how much you need to budget so that you are prepared ahead of closing. Your deposit, appraisal fees, and seller contributions can factor into this final number as well.
The better you understand the entire loan process, the better your entire experience will be. Remember: You can never ask too many questions.
Your Local Expert,

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St. Patricks Day Events in San Diego

happystpatricksdayleprechaunwithpotofgoldballoon.jpgSaint Patricks day is right around the corner! Looking to celebrate the day like a true Irish? Here’s what’s going on in San Diego this weekend for St. Patricks day!

shamROCK Gaslamp Block Party – March 15th, 2014
Venue: Gaslamp Quarter: Main Enterance is at 5th Avenue and G Street
Price- $30-$85

St. Patricks Day Parade & Festival – March 15th, 2014
Venue: 5th & 6th Avenue, between Juniper & Upas
Parade starts at 10:30 am. Price is FREE.

Irish 4 a Day – St. Paddy’s Eve Party Hop – March 15th, 2014
Venue: McFadden’s San Diego (will call)
Price in advance: $29, Day of – $40

St. Patrick’s Day Half Marathon, 5k Run/Walk and Green Mile – Sunday, March 16th, 2014
Venue: El Cajon, CA
Half Marathon Starts at 8am, 5K starts at 8:15am, Green Mile starts at 8:20am

And once you’re done partying it up, hit up the NEW Nicky Rottens Burger Joint & Sports Bar at their new location at 3773 Willow Glen Drive, El Cajon CA 92019. Opening March 17th, 2014.

 Your Local Real Estate Expert,
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