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foreclosure: Government’s Latest Bail-Out Plan – Home Affordable Refinance Program (HARP) - 02/16/12 08:58 PM
The Home Affordable Refinance Program Has Been Extended Until December 31, 2013 The Home Affordable Refinance Program or HARP is just a piece of the $75 billion government sponsored Making Home Affordable Program. It can help borrowers reduce their monthly mortgage payments significantly. You can apply for the HARP refinance loan and get the lowest possible home affordable refinance program rates if:...continue reading
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foreclosure: Are You Facing Foreclosure? Let Me Help You - 02/08/12 07:55 PM
You have alternatives.
I can help.
Facing foreclosure is difficult. I know. A lot of my best clients have been in the same situation. As I have told them, I want you to know: It will be all right, you will get through this.
Looking back, I remember the anxiety, the pressure, and the problems that my clients and their families had to deal with – especially the disappointment that they saw in their children’s faces. Some of them saw their loans suddenly rise. Others fell behind on their mortgage because of hardship. And others had received a foreclosure notice from … (0 comments)
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foreclosure: If You Are Contemplating Bankruptcy You Should Probably Consider A Short Sale - 11/02/11 01:22 PM
Today I wanted to talk to you about bankruptcy. I have met with homeowners in the past, who were struggling with their mortgage payments, and have considered filing for bankruptcy in order to avoid the foreclosure process. Even if this may be the best option for your current financial situation, I suggest that you meet with a bankruptcy lawyer before you do anything, in order for you to know for sure. But I also wanted you to think about this: If the biggest debt or the only large thing that you owe as of the present is your home, completing … (2 comments)
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foreclosure: BUYER TIPS - How to know if a Foreclosure is a Good Deal - 08/05/11 01:17 PM
Let’s see...you have enough cash or credit and you want to get a great deal on a property that has been foreclosed, but first, there are some things that you would want to know before buying a foreclosure.
Before anything else, let’s define what is meant by the word foreclosure. It is usually called real estate owned (REO), and it is a property owned by a bank or lending institution. This happens when the previous owner of the property has stopped paying mortgage for it, due to unforeseen circumstances and hardships. As a result, the lending institution (Wells Fargo, Chase Bank, Bank … (2 comments)
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foreclosure: Easing The Burden of a Short Sale With The Help of The HAFA Program - 07/20/11 01:44 PM
Most of the time, when people talk to you about short sales, you hear that the homeowner cannot walk away from closing with any money in their pocket. That is somewhat true in most short sales. However, there is a short sale program developed by the federal government called a HAFA short sale, which provides aid to homeowners going through a short sale.
HAFA is part of the Home Affordable Modification Program or HAMP which was part of the original stimulus package and it is in place to help underwater property owners and banks avoid foreclosures. What happens in negotiations … (2 comments)
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foreclosure: Which is Better: A Short Sale or a Foreclosure? - 07/05/11 12:33 PM
Would a short sale be really better than a foreclosure?
Yes, and there’s no doubt about it.
For the longest time, many homeowners have gotten so upset and disappointed with getting by financially and not having enough money to cover expenses that they end up just letting their home go back to the bank as a foreclosure instead of short selling their home. It’s really sad that they have to let their homes go after working so hard to get it.
There is so much stress involved when a homeowner has to go through with facing a foreclosure; Most of … (2 comments)
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foreclosure: Santa Monica Pre Foreclosure FAQ's - 06/27/11 02:48 PM
Many clients come to me with questions about the Santa Monica home’s distressed situation. Santa Monica pre foreclosure and foreclosure laws are the same as every other city in California.
BORROWERS who are late in payments and seeking loan modifications are given by California Law SB 1137, the ammunition to discuss with their lenders their financial situation to avoid foreclosure. Lenders may file a Notice of Default and start foreclosure process if the borrower is late in payments.
Santa Monica Pre Foreclosure Question 1: What are the requirements in California before a Notice of Default is filed?
Answer: California law … (0 comments)
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foreclosure: What the Heck Is a Short Sale? - 02/24/09 01:00 PM
I can promise you that it's anything but a short transaction!
Simply put, a short sale (also referred to as a ‘pre-foreclosure'), involves the sale of real estate whereby the proceeds from the sale fall short of the balance owed on a loan secured by the property. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship that exists on the part of the owner/borrower. This negotiation is all done through communication with a bank's Loss Mitigation department.
The home owner/borrower sells the mortgaged property for less than the … (0 comments)
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foreclosure: Santa Monica Real Estate Market Update | January, 2009 - 02/18/09 06:52 PM
This article was originally published in categories: Los Angeles Real Estate, Santa Monica Real Estate at BestSideOfTheWestSide.com titled: Santa Monica Real Estate Market Update | January, 2009
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foreclosure: Is the Westside LA Real Estate Market Suffering? - 01/26/09 08:02 PM
I have been receiving lots of calls lately about the market, specifically regarding foreclosures (bank-owned properties) and short sales (pre-foreclosures).
As of this writing, there are 871 single family homes in foreclosure or short sale status on the Multiple Listing Service within Greater Los Angeles. Although the Westside of Los Angeles hasn't suffered the way many other areas have, there ARE opportunities for buyers in this arena. But let me warn you: chasing foreclosures and short sales is NOT for the faint of heart. I can hold your hand through the process. But you cannot be in a hurry to close on … (1 comments)
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Dana Ehrlich
Santa Monica,
CA
More about me…
eXp Realty California
Address: Santa Monica, CA, 90405
Office Phone: (310) 487-0096 x 0099
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