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foreclosure: Changing Market? - 05/14/08 05:16 PM
I am hearing and seeing so many conflicting signs in our market. I was (half joking with) one of my Buyers last week that I think the best time to buy was between December 2007 and February 2008. It is amazing how the market has changed in the past months. Since about February or March, we have seen multiple offers, and properties go pending sale in just 3 days!! Yet I believe we still have 2 more waves of ajustables tha will reset bring yet more foreclosures. At least for now we are seeing homes sell quickly in many Sacraento areas, … (0 comments)
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foreclosure: Short Sale vs. Foreclosure - 05/01/08 04:09 PM
Did you see the price on that house next door? He paid $400,000 for that two years ago and now the agent is asking $210,000 on a short sale.....What's a short sale?
In my opinion, a short sale is a long shot, or wishful thinking on the part of a desperate seller or determined Realtor. By definition, a short sale is the process of asking your existing lender to accept LESS than the full balance owed on the home. You are effectively "short" funds to pay the loan off.
The first question is, why would a lender even consider this type of … (0 comments)
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foreclosure: Home Front: Sacramento credit union battles foreclosures - 03/27/08 07:10 PM
Home Front: Sacramento credit union battles foreclosures
By Jim Wasserman - jwasserman@sacbee.com
Published 12:00 am PDT Friday, March 21, 2008Story appeared in BUSINESS section, Page D2
Print | E-Mail | Comments (24) |
While millions of Americans await their May "economic stimulus" checks promised by the federal government, a Sacramento-based credit union is rolling out a far more modest stimulus for some Californians.
It's a $20 million fund aimed at getting a very small number of foreclosed borrowers back into a home of their own.
"This is not just talking about the mortgage meltdown. We're trying to do something real," says Teresa Halleck, president and … (0 comments)
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foreclosure: FHA Temperarly raises maximum loan limits - 03/11/08 07:43 AM
FHA "TEMPERARLY" RAISES MAXIMUM LOAN LIMITS
Sacramento and Surrounding Counties to
$580,000 through calendar year 2008.
… (0 comments)
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foreclosure: SB 1054 - 01/23/08 08:54 AM
The second provision prohibits a real estate professional who gives an opinion of value on a property to a mortgage lender from acting as the listing agent on that property for a period of one year. For more information you can visit http://www.leginfo.ca.gov/
How do you feel about that? Do you think it is enforceable? Thoughts?
… (0 comments)
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foreclosure: Debt Foregiveness Act of 2007 - 12/30/07 12:12 AM
H.R.3648: Mortgage Forgiveness Debt Relief Act of 2007 was signed into law by the President on December 20th 2007. Please read all the information on this as if effects your "short sale" sellers.
SECTION 1. SHORT TITLE.
This Act may be cited as the `Mortgage Forgiveness Debt Relief Act of 2007'SEC. 2. DISCHARGES OF INDEBTEDNESS ON PRINCIPAL RESIDENCE EXCLUDED FROM GROSS INCOME.
(a) In General- Paragraph (1) of section 108(a) of the Internal Revenue Code of 1986 is amended by striking `or' at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting `, or', and by … (1 comments)
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Christina Pilgrim
Folsom,
CA
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Weichert Pacific Equity Properties
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Cell Phone: (916) 212-9843
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