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contra costa county: Homeowners Delinquent on their Mortgage Payments - 07/14/08 10:19 PM
Due to my extensive lending background, I have received numerous phone calls from homeowners who are delinquent on their mortgage payments asking for advice. As a result of these calls I have learned the unfortunate truth that many homeowners wait too long to determine their options, the end result being a short-sale or foreclosure.
The first thing you should review is the underlying cause of the delinquent payments. If it is due to a temporary change in circumstances, you should contact you mortgage lender and ask for a Forbearance Plan. Forbearance is when the lender agrees to temporarily reduce or suspend … (5 comments)
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contra costa county: FREE Water Conservation devices from Contra Costra Water District - 06/27/08 03:45 PM
Water Conservation Tips:
· Now is a good time to add 2”-3” of mulch to shrub and flower beds. Mulch not only reduces weeds but also reduces water evaporation by up to 70%.
· Sweep your driveway clean versus hosing it down with water.
· Wash only full loads of laundry.
· Install low-flow shower and faucet heads (available for FREE—see below).
· Change habits. Turn off the tap while brushing your teeth and shaving.
· Check your toilet and sinks for leaks. Leaks could waste thousands of gallons of water per month.
· Don’t use your toilet as a wastebasket. You could be wasting 7 gallons of … (0 comments)
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contra costa county: 851 Brittany Lane, Concord, California - 06/21/08 08:38 AM
851 Brittany Lane, Concord, California
This updated 2172 s.f. home is located in a well maintained neighborhood bordering Walnut Creek, within 1.1 miles of Carondolet High School and DeLasalle High School.Large master suite with 3 additional sizeable bedrooms, a light and bright kitchen with a full-sized eating area in addition to the Dining room. The home is graced with crown molding, hardwood floors, new carpets, a fireplace with a heatilator, and french doors from both the family room and the master suite to the rear yard patio and pool.
… (0 comments)
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contra costa county: Limitations on Fannie Mae's new Jumbo-Conforming Loan limit - 03/17/08 03:39 PM
Fannie Mae's new Jumbo-Conforming loan limit in Contra Costa county is $729,750. (A loan is classified as Jumbo-Conforming if it is between $417,001 - $729,750). While that is exciting news, there are several very specific limitations that you should be aware of:
The increased loan limits are only approved through 12/31/08
Only the following loan programs are included in the increased loan limits:
15 and 30 year fixed and amortized (principal & interest)5 Yr Fixed-Adjustable, amortized, LIBOR index with 5/2/5 interest rate caps (the first adjustment is limited to a 5% change, subsequent annual adjustments are limited to a 2% change, the lifetime interest … (1 comments)
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contra costa county: California Housing Finance Agency continues to offer $0 Down Financing - 01/14/08 07:30 AM
California Housing Finance Agency (CalHFA) has decided to buck Fannie Mae and will NOT impose Soft Market Guidelines. This means a buyer can still get a CalHFA $0 down loan!
CalHFA does have income limits. In Contra Costa county, those limits are:
For a family of 1 - 2: $95,532For a family of 3+: $111,454
The resale Sales Price limit in Contra Costa is $670,183
Finally, there is potential for Recapture Tax under certain conditions upon selling their home. Although the CalHFA Disclosure is a bit complicated, I have created a Recapture Tax Calculator which uses the specific buyers information so they can view their … (1 comments)
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contra costa county: Self-Employed Borrowers May Pay Too Much When Buying or Refinancing a Home - 11/27/07 10:20 AM
Stated Income loans were originally created for self-employed borrowers with complicated tax returns, a good down-payment and excellent credit. The repayment profile of these borrowers was so strong that the Stated Income requirements became more lenient....to the point that a W-2 employee could obtain a Stated Income loan with $0 down. Loan repayment performance plummeted and, as a result, there is now little or no desire for these mortgages in the market. Sadly, the original Top Performers for this product - self-employed business owners with excellent credit and a good down-payment - will be hurt the most.
A generation of loan … (2 comments)
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contra costa county: First Time Home Buyers Remind Me What is Important - 10/16/07 07:57 PM
Several months ago I received a First Time Home Buyer referral for the Pleasant Hill area of Contra Costa county from Susan Kingsley of Empire Realty Associates who has worked with these clients for two years. These hard-working, diligent, financially responsible people passionately want to own a home and have run into one road-block after another in their quest.
When I initially met with these potential buyers, I also was unable to provide a mortgage approval but I did not want to be just another "NO" so we sat down and prepared an Action Plan. The Action Plan included correcting credit report errors … (8 comments)
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contra costa county: Staging....for Curb Appeal - 09/24/07 05:24 PM
Am I the only one who recognizes that yards rarely match homes? This may be fine as a home owner, but as a home seller this creates a negative first impression in a buyer's mind.
I must confess that I have been the biggest offender of the "Yard Doesn't Match The Home" group. It was a long standing joke in my family that my house was the Plant Cemetary - in other words, plants went to my house to die - so I have complete empathy for others lacking a green thumb, talent or time to devote to their yards. In fact, when I sold my previous two homes I didn't care that my … (5 comments)
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contra costa county: Concord, California First Time Home Buyer Program - 09/24/07 04:09 PM
The city of Concord, California in Contra Costa County offers up to $25,000 to first time home buyers as a 0% interest, 45 year loan with no repayment until tce home is sold or at the end of 45 years. The dollar amount of the loan is determined by the annual household income of the first time buyers.
If the annual household income is at or below 100% of the Median Income for the area, the first time home buyer can received 20% of the sales price up to $25,000.
100% of Median Income by Household Size is:
1 = $58,7002 = $67,0003 = $74,5004 = $83,8005 = … (1 comments)
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