3111 Sugarberry Ct., Walnut Creek, CA 94598 OPEN SUNDAY, 4/26 - 04/24/09 12:47 PM
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Read this BEFORE you sell your home as a short-sale! - 04/20/09 05:50 PM
Note:  This blog pertains to the state of California.  Lending laws and regulations may differ in other states.
Many sellers proceed with a short-sale prior to consulting a CPA and attorney.  Don't make this mistake! There is a significant amount of erroneous information about short-sales and the ultimate impact on you, the seller. 
There are three major items to consider before listing your home as a short-sale:
Recourse or Non-Recourse mortgage(s) Income Tax Liability Personal Liability after the sale Recourse or Non-Recourse mortgage -
Recourse is the lender's right to collect the mortgage deficiency for up to four years.  If your … (17 comments)

The Press is WRONG – plenty of Jumbo financing IS available - 04/02/09 07:25 PM
I recently attended a meeting with 30 experienced Realtors who were bemoaning the lack of Jumbo financing and the negative impact on real estate sales over $1 million.  Soon thereafter I went on Broker Tour and heard much of the same conversation.
Since I have not run into the same problem and wondered why this was such a common belief, I started asking questions.  I received two primary answers:  1) This is consistently reported in the press and 2) is proven by the fact that their preferred loan officer now offers only one and maybe two Jumbo programs compared to the … (11 comments)

FREE Mortgage Protection Insurance for 1st Time Buyers! - 04/02/09 04:05 PM
California Association of Realtors now  offers FREE Mortgage Protection Insurance to 1st Time Buyers through the Housing Affordability Fund!
The Mortgage Protection Program provides a combination of involuntary unemployment, accidental disabillity and accidental death protection for qualilfied 1st Time Buyers.  Through this program, 1st time buyers who lose their jobs or become accidentally disabled may be eligible to receive $1,500 per month for up to six (6) months to help make their mortgage payments.
Mortgage Protection Program Frequently Asked Questions (FAQs)
Mortgage Protection Program Application
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