Tagged : Newport Beach Bankruptcy Homes

Newport Beach is one of the most expensive places to live in Southern California and we always have clients looking for distressed properties as a way to get into the real estate market.  Bankruptcy sales are different than bank owned or short sales as the latter has occurred after the bank has foreclosed on the home and the owner is no longer living in the home.  Short Sales differ as the owners are typically still living in the home and are selling the property and asking the bank to forgive the difference between what they owe to the bank and the offering price of the home.  A Bankruptcy sale occurs when the owner is liquidating their assets in order to be in compliance with the bankruptcy rules and regulations.  There is a certain process in order to