FORECLOSURE HELP?-Ladera Ranch/Mission Viejo/Rancho Santa Margarita/Coto de Caz

Who We Are

WE ARE THE AREA'S LEADING CENTURY 21 TEAM OF FORECLOSURE SPECIALISTS OFFERING A CONFIDENTIAL APPROACH TO HOME RETENTION & FORECLOSURE SOLUTIONS. OUR SHORT SALE SPECIALTY TEAM MAKES THE PROCESS EASY & OFFERS YOU ANSWERS FROM CALIFORNIA BOARD CERTIFIED LOSS EXPERTS WITH OVER 30 YEARS OF EXPERIENCE, FREE. WE KNOW HOW TO GET QUICK LENDER SOLUTIONS TO YOUR SITUATION & IN SOME CASES PROLONG THE FORECLOSURE PROCESS TO ALLOW YOU TIME TO SORT THINGS OUT.

HOME SEARCH SITES & REALTOR WEBSITES CAN BE FOUND AT A DIME A DOZEN, BUT QUALITY REPRESENTATION DURING THESE TIMES IS HARD TO FIND.

The team of Jane and Doug Lippman has been servicing client's needs collectively for over 40 years and they work in a quick, efficient manner. Our team consists of real estate representation, legal alliances, escrow services & lender affiliations, along with expertise in marketing, advertising and public relations. We deal in all levels of negotiations from multi million dollar custom homes to first time homes. "Our client's satisfaction is our highest interest."

We are relocation trained and certified agents and are no-nonsense when it comes to the sale of homes. We are all about getting the job done for our clients in the quickest, most non-disruptive manner possible.

You need professional, quality representation during these times. CALL US FOR A FREE IN-HOME, CONFIDENTIAL, CONSULTATION.

Core Competencies

We represent from Customs to Condos. We specialize in Orange County, CA. - Coto de Caza, Ladera Ranch, Laguna Beach, Laguna Niguel, Dana Point, San Clemente, Monarch Beach, Irvine, Shady Canyon, San Juan Capistrano, Rancho Santa Margarita, Mission Viejo & Las Flores. We are Short Sale, Foreclosure & Certified Relocation Specialitsts Agents working with both buyers and sellers. We have a qualified team of agent specialists to serve a variety of client needs. Besides all of this, we of course are well versed in all standard sales.

What is a Short Sale

Definition: a short sale occurs when a bank or mortgage lender agrees to discount a loan balance due to an economic hardship on the part of the mortgagor (borrower). The home owner/debtor sells the mortgaged property for less than the outstanding balance of the loan, and turns over the proceeds of the sale to the lender in full satisfaction of the sale. In such instances, the lender would have the right to approve or disapprove of a proposed sale.

Extenuating circumstances influence whether or not banks will discount a loan balance. These circumstances are usually related to the current real estate market climate and the individual borrower's financial situation.

A short sale typically is executed to prevent a home foreclosure. Often a bank will choose to allow a short sale if they believe that it will result in a smaller financial loss than foreclosing. For the home owner, the advantages include avoidance of having a foreclosure on their credit history. Additionally, a short sale is typically faster and less expensive than a foreclosure.

In short, a short sale is nothing more than negotiating with lien holders a payoff for less than what they are owed, or rather a sale of a debt, generally on a piece of real estate, short of the full debt amount.

Lenders have a department (typically called a loss mitigation department) which processes potential short sale transactions. Typically, lenders do not accept short sale offers or requests for short sales until a Notice of Default has been issued or recorded with the locality where the property is located. Lenders have to approve of any buyer's or listing agent's commission in advance. Many of these facilitators work with a private lending party for their financing, such as a partner or syndicate.

Lenders have a varying tolerance for short sales and mitigated losses. The majority of lenders have a predetermined criteria for such transactions. Other distressed lenders may allow any reasonable offer subject to a loss mitigator's approval. "Red tape" is very common in short sales, similar to REO and HUD properties, requiring potentially multiple levels of approvals and conditions.

Junior liens, such as second morgages, HELOC lenders, and HOA (special assessment liens), may need to approve of the short sale. Frequent objectors to short sales include tax lieners (income, estate or corporate franchise tax - as opposed to real property taxes, which have priority even unrecorded) and mechanic's lien holders. It is possible for junior lien holders to prevent the short sale.

While it is frequent if not common for a lender to forgive the balance of the loan in question, it is unlikely that a lien holder that is not a mortgagee will forgive any of their balance. Further, it is common for a lender to omit updating the zero balance and settlement option on the mortgagor's credit report, or even flat refuse to do so "due to their financial loss."

The Mortgage Forgiveness Debt Relief Act of 2007

When the lender decides to forgive all or a portion of a borrower's debt and accept less, the forgiven amount is considered as income for the borrower and is liable to be taxed.

However, after the signing of The Mortgage Forgiveness Debt Relief Act of 2007 by President Bush, amendments have been made to remove such tax liability and allow the borrower and lender to work freely together to find a common solution that is beneficial to both parties. This protection is limited to primary residences so consultation with a tax advisor is necessary ensure that a borrower qualifies.

What Our Clients are Saying

"We thought we'd have to walk away from our home, but Lippman Properties brought options to the table that we had never heard of before. After a careful review of everything, we were able to get a sale done before having a foreclosure on our record. Thank you so much." - Anonymous in Rancho Santa Margarita

"So knowledgeable about Ladera Ranch and the other areas we were looking in. Thank you for your professionalism throughout the entire transaction. Your experience made a huge difference!" Tiffany and Josh, Ladera Ranch

"Our experience could not be better. Thank you so much." - Myra and Bob Phelps, San Juan Capistrano

"We love looking out onto the ocean from the lovely beachfront home that only you could find. Talk about digging deep. You were relentless. We love our new California lifestyle." - Barbara and Ron Hope

"Thank you for helping us with our first homebuying experience. We were very impressed with the technology that you had available to us and your rapid response time on matters. You totally get it!" John and Brittany Randolph

"You did it again! One more sold thanks to your great efforts. Thank you Jane and Doug. We are with you for life!!" B&D