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short sales: Now you pay the price when your neighbor doesn’t pay his bills! - 05/07/09 09:31 PM
I've been hearing rumors and quiet stirrings about this for the past few weeks now, and it turns out to be true! 
In fact, when a neighbor doesn't pay his mortgage payment or home owners dues, it very likely will keep you from getting a loan on your own home, and this goes for new purchases AND refinancing a property that you already own!
As outrageous as this sounds, as it turns out...it's sadly true! 
To learn more, just click on the link below to read the full story as written in the Los Angeles Times.
http://www.latimes.com/business/la-fi-condos29-2009apr29,0,1238189.story
Here's hoping we all begin to … (5 comments)

short sales: Carol’s idea regarding putting an end to the current foreclosure mess now! - 04/27/09 05:55 PM
Why not nip this foreclosure in the proverbial bud right now?
 
The banks could turn the loans for those borrowers who found their interest rate has adjusted and now their monthly mortgage is unaffordable, by converting those mortgages into a 40-50 year fixed rate mortgage, thus making it more affordable to stay in their homes right now and stopping the foreclosure process in it's tracks.
 
Then at a later date, borrowers could be allowed to refinance or convert their mortgage back to a standard 30 year mortgage as soon as financial times are better again in a few years, … (4 comments)

 

Carol Simonson

Westlake Village, CA

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Address: Westlake Village, CA, 91362

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