Video of a guy LITERALLY under water writing out a message that says “Is your home under water? www.UnderWaterHomeHelp.com
[Video] What is a Short Sale?
September 12, 2011 By
This video describes a short sale, a real estate transaction where the bank will accept less than what is owed to them when a home is sold.
If you or someone you know is considering this option, but would like to know more about it, click here: www.UnderWaterHomeHelp.com.
Gorgeous Home In Discovery Bay at “The Lakes”
August 6, 2011 By
Large home in the gated community of “The Lakes.” Granite countertops throughout. Four large bedrooms with two bathrooms upstairs. 3 Car garage, that actually fits 4 cars as the 3rd bay is a tandem garage with extra height. Yards have been updated and easy to maintain. Full bathroom downstairs. Community has wonderful amenities including a 12-acre lake, walking paths, basketball court, playground and picnic areas.
Listing Price: 283,000
Address: 6265 Crystal Springs Circle
City: Discovery Bay
State: Ca
ZIP: 94505
Address: 6265 Crystal Springs Circle
City: Discovery Bay
State: Ca
ZIP: 94505
MLS # (if any): 40532165
Square Feet: 3,342
Bedrooms: 4
Bathrooms: 3
Garage: 3 Car Attached
Square Feet: 3,342
Bedrooms: 4
Bathrooms: 3
Garage: 3 Car Attached
458 New Reasons To Avoid Foreclosure
July 29, 2011 By
Effective July 15 2011, SB 458 prohibits banks, services and lenders from pursuing home owners for a deficiency judgment when completing a short sale on junior mortgages.
It extends the protections of SB 931, to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as PAYMENT IN FULL of the outstanding balance of ALL LOANS.
“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. president Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensure that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.”
Couple this new law with some of the incredible offers coming out of some of these lenders, and you almost have no excuse to pursue a Short Sale. Not only does it beat the foreclosure process, but also outweighs the perceived benefits of loan modification programs (oops..there goes another open can of worms. I’ll revisit this topic soon)
As great as this news is (and it IS very welcome news), there are a few potential caveats to how this will be implemented in real life situations.
Mortgage Relief Fraud: Will You Be the Next Victim?
April 13, 2011 By
The FBI reported a jump of 71% in mortgage relief fraud investigations from 2008-2009, and expects this number to have grown in 2010.
That’s why it’s my duty to educate homeowners in my community on the cautions they need to take, and what the government has recently done to protect you from unscrupulous individuals and companies who want to take advantage of their desperate situations.
What you need to watch out for if you are looking for mortgage relief assistance:
- Upfront fees—just don’t pay them! In fact, they are now illegal!
- A request to sign over your deed (this only spells trouble)
- Lots of paperwork without the opportunity for review
- The claim of government-affiliation
These are just a few red flags you need to be wary of. I’ve created a free report on the homepage of my website that details more of what you need to watch for.
If you are struggling with an unaffordable mortgage and are looking for help, educate yourself. These scammers can be very shrewd and will say almost anything to steal your money.
The Federal Trade Commission has required disclosures of anyone offering mortgage relief services. If you’d like to see an example, check out any of the pages of my website. If a company you are dealing with has not provided these disclosures, please ask why they are not compliant, and proceed with caution!
As a CDPE, you can trust that I have the tools to be in full compliance of FTC regulations, and will always work with your best interests at heart.
If you want viable alternatives to foreclosure, give me a call today. I’m always here to help!
11 Sea Crest Terrace, Fremont
March 30, 2011 By
Beautifully upgraded 3-story townhome; Corian countertops and stainless steel appliances; Vaulted ceilings; Wood-burning fireplace; Interior laundry unit; 2-car attached garage; Spacious back patio area, New A/C and Furnace. End Unit. Quick Video Walk Through posted here. Pending.
Listing Price: 344,900
Address: 11 Sea Crest Terrace
City: Fremont
State: CA
ZIP: 94536
Address: 11 Sea Crest Terrace
City: Fremont
State: CA
ZIP: 94536
MLS # (if any): 40509653
Square Feet: 1,705
Bedrooms: 3
Bathrooms: 2.5
Garage: 2 Car Attached
Square Feet: 1,705
Bedrooms: 3
Bathrooms: 2.5
Garage: 2 Car Attached
Solving Your Mortgage Crisis Just Got Easier
February 9, 2011 By
5 Steps for a Successful Short Sale
Lenders and the federal government, prompted by the sheer volume of loan modification and short sale requests, have overhauled their systems and programs, making the foreclosure avoidance process much easier than in the past.
If you are considering short selling your home to avoid the financial and emotional fallout of foreclosure, you should be aware of the five steps you should take to increase your chances of a successful transaction.
First, do you qualify?
You must:
- Have a verifiable hardship, like unemployment, medical bills, or relocation
- Must have a monthly income shortfall
- Be insolvent (you have no cash or assets that can be sold to pay down the mortgage), or headed towards insolvency
If you meet these qualifications, follow these five steps to a successful short sale:
- Contact me so we can identify your servicer, fill out a short sale packet for the lender, and assemble all the required information needed to list your home for sale
- Gather financial information (i.e., bank statements, pay stubs) from at least the last three months
- Keep your house in showcase condition for showings, and make as many repairs as necessary and that you can afford
- Expect the lender, junior lien holders, and private insurance companies to request more paperwork, and try to gather requested information quickly to ensure transaction efficiency
- Set realistic expectations and work with me, the lender, and the buyer to the satisfaction and benefit of all parties involved
For more information about how the short sale process works, or about any other foreclosure alternatives you may qualify for, call me today (or fill-out the form below). I can help you alleviate the burden that the threat of foreclosure brings, and we can develop a strategy to help you breathe a little easier.
Feeling Financially Squeezed?
January 4, 2011 By
Lenders Primed for Short Sales in 2011
Short sales are a terrific option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates in 2011, giving them more reason to pursue short sales. Lenders are projected to incur losses as severe as 85 percent in foreclosure! Meaning, after deducting the expense of the foreclosure process on a $100,000 loan, they may only get back $15,000!
It’s common sense that lenders will be looking toward the short sale solution. Even though they are accepting less than is owed on the property, they lose far less than in a foreclosure sale.
In fact, in the San Francisco Bay area, short sale transactions have increased by 42%.
It may be a surprise to many that lenders actually want to work out a solution that benefits all parties. Oftentimes, the lender is seen as the villain in the situation. I’ve found that the lenders want to avoid foreclosure just as much as homeowners. The free, downloadable report on this website talks more about working with your lender, and details all the foreclosure alternatives available to you.
Download the report and call me today; I can help you develop a plan to work with your lender and avoid foreclosure.
931 New Reasons a Short Sale Beats a Foreclosure
December 15, 2010 By
There are plenty of government inefficiencies to complain about. Fortunately, one new bill slipped through the bureaucracy and big business lobbyists and was signed into Law: SB 931.
This is huge news for homeowners who find themselves stuck between a rock and hard place. Homeowners who have been debating between simply letting their homes go to foreclosure, or try to be responsible and pursue a short sale thus containing the damage to their credit and personal reputation.
Summary of SB931: No Short Sale Deficiencies: Starting January 1, 2011, a seller’s first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. Providing written consent to a short sale shall obligate the first trust deed lender to accept the sales proceeds as full payment and discharge of the remaining amount owed on the loan. This law applies to first trust deeds secured by one-to-four residential units, but does not limit the lender from seeking damages for fraud or waste by the borrower.
Devil is in the Details. Fortunately, the devil is a pretty nice guy in this instance. A large number of homeowners refinanced their ‘purchase money’ loans. For simplicity, a refi basically changes the color of that purchase money loan into a ‘hard money’ loan. Whereas a purchase money loan would have been excluded from deficiency anyways (before SB931), now a refinanced first loan will be treated the same. Bottom line: if the first loan on your home is a purchase money or refinanced loan, the lender cannot obtain a deficiency judgement against the homeowner!
Therefore, every potential short sale seller with a refinanced first loan should be jumping for joy right about now! 
Update 7/15/2011: SB 458 Now signed into Law! Protects against Deficiency Judgements on junior loans!
4558 Bonsai Ave, Tracy, CA
December 2, 2010 By
OPENHOUSE: Saturday/Sunday, December 4 & 5, 2-4pm. Two tone paint, crown molding, upgraded cabinets, LARGE lot, upstairs laundry, open kitchen to family room w/fireplace, high ceilings, ‘Endicott’ built by Shea, Jefferson Schools. Close to ACE train station.
Offers due, Monday, December 6th, 7pm.
