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century 21 showcase realtor: Major news in the Santa CRuz County short sale and housing industry - 04/04/12 03:01 PM
Major news in the short sale and housing industry! On Friday, March 9, the Obama Administration announced updates to the Home Affordable Foreclosure Alternative (HAFA) program. Created in 2009, HAFA is a government-sponsored initiative assisting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deed-in-lieus.
The HAFA updates will go into effect on June 1, 2012, and will allow more distressed homeowners to seek assistance. Most importantly, the deadline for submitting for HAFA eligibility will be extended a full year, from December 31, 2012, to December 31, 2013.
Other major changes from March's … (0 comments)
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century 21 showcase realtor: Mortgage Servicing Litigation - 08/17/11 09:11 PM
What you need to know about Mortgage Servicing Litigation
Mortgage Servicing Litigation is the last avenue for more borrowers who believe they have a case.
Mortgage Litigation Report is something I keep an eye on. Mortgage servicing litigation has skyrocketed 88% in the 2011 first quarter. These figures were released last week in a report by MortgageDaily.com and law firm Patton Boggs LLP. Reasons given include all the robo-signing scandal uncovered last fall and all the media attention this received.
Frankly, I’m only surprised that increase wasn’t higher, given all that I have read about the robo-signing mess and … (1 comments)
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century 21 showcase realtor: Bank of America NEWEST Program WIPES OUT Negative Mortgage Equity - 08/11/11 01:36 PM
Share this story from HuffingtonPost.com with everyone you know…this could be a rule changer for those BofA borrowers who qualify.
…Bank of America will soon be off the hook for mortgage abuses in exchange for a whole bunch of money. The money will be used for loan modifications and….mortgage debt forgiveness. Yes, you read that right…BofA will soon be announcing a new program to forgive underwater owners negative equity.
WASHINGTON — Federal and state prosecutors are in advanced negotiations with Bank of America in pursuit of a settlement that would forgive the bank for a broad range of past … (0 comments)
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century 21 showcase realtor: Did HAFA Work for your client? - 08/11/11 01:08 PM
Lets start by answering the question..What is HAFA?:
Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and sunsets on December 31, 2012.
Complements HAMP by providing a viable alternative for borrowers (the current homeowners) who are HAMP eligible but nevertheless unable to keep their home. Uses borrower financial and hardship information already collected in connection with consideration of a loan modification. Allows borrowers to receive pre-approved short sales terms before listing the … (0 comments)
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century 21 showcase realtor: USE the Strategic Default Calculator to figure out where you are - 07/15/11 12:16 PM
http://www.youwalkaway.com/output24/InterectiveFlashCalculator.html
Strategic Default
Strategic default, also known as voluntary foreclosure, is when the borrower decides to stop paying a mortgage even though they can still afford the payment. For many people who are upside down on their mortgage, the decision to strategically default is one that is difficult but, often times, the first step to financial freedom.
The Wall Street Journal's Real Time Economics reported that: Researchers have found that homeowners start to default once their negative equity passes 10% of the home's value. After that, they "walk away massively" after decreases of 15%. About 17% of households would choose voluntary … (1 comments)
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century 21 showcase realtor: (video) Visit Scotts Vallley with Patti Lyles Century 21 Showcase, Scotts Valley Real Estate Agent - 01/12/11 12:02 AM
Take a tour of Scotts Valley, California with Patti Lyles Century 21 Showcase, Scotts Valley Realtor, working Scotts Valley Real Estate
831-335-2100
Median Home Price: $775,000
Scotts Valley is located in the northern portion of Santa Cruz County. It backs up against the Santa Cruz Mountains. Because it is the closest city in Santa Cruz County to the Silicon Valley, it is an ideal community to live for those who commute to jobs "over the hill" in the Valley.
Several famous high-tech companies are headquartered in Scotts Valley. Among them are Seagate (hard disk drives). Aviza & Threshold Enterprises.
The … (2 comments)
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century 21 showcase realtor: (video) Visit Watsonville with Patti Lyles Century 21 Showcase, Watsonville Real Estate Agent - 01/10/11 09:35 PM
Median Home Price: $339,975
The City of Watsonville is the southern anchor of Santa Cruz County. Long the agricultural center of the county, Watsonville is the fastest-growing city in Santa Cruz County. Some of the best home prices in the county are to be found in Watsonville, whether you are looking for an charming old Victorian or a sparkling new Townhouse.
The historic center of Watsonville has as its centerpiece the town square, complete with a band shell, fountain, green grass, and park benches. It is surrounded by stately older buildings, and is a great place to relax … (0 comments)
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century 21 showcase realtor: HAPPY THANKSGIVING from all of us here at Century 21 Showcase 831-335-2100 - 11/25/10 12:26 PM
Happy Thanksgiving from all of us here at Century 21 Showcase, REALTORS ® I am always thankful for a holiday that doesn't require atonement or starvation!!!
We are more thankful for the clients that we had this year and hope to have in the future. In the spirit of Thanksgiving, we are reaching out to our loyal clients for testimonials ("Gobbles") of your positive experiences with Century 21 Showcase and why you feel was of value to you. We would also like to Thank You and we would appreciate your continued business.
… (1 comments)
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century 21 showcase realtor: Why are Short Sale counter offers from the Wells Fargo Bank considerably higher than asking & comparables? - 11/20/10 05:25 PM
That was a question a new client who is just starting out asked me that question:
1st: It is totally irrelevant what the current seller paid for the home. What matters is what is the current value.
The value of a home is a mix of objective data and with a subjective component, I always provide my sellers with a range.
As you said, the price you are willing to pay for this home is in the lower spectrum of the comps. Your rationale is that the home needs repairs. Do the other homes need repairs as well?
Cosmetic repairs (say you don't like … (0 comments)
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century 21 showcase realtor: Santa Cruz County Short Sale remember HUD Only Allows Certain Fees to be covered by Seller. - 11/19/10 10:59 AM
I hope you find this information helpful the next time you write an offer on HUD short sale.
If you are buying a Santa Cruz County Short Sale your Buyer's agent needs to know what is and is not allowable so that you can best use your clients' funds to get an approved deal.
When I represent the seller and a buyer's agent asks for a variety of closing costs and prepaids to be covered by the seller, I wanted to share with buyer's agents what is and is not allowable.
When advising your buyers about offers on a HUD-approved short … (0 comments)
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century 21 showcase realtor: CENTURY 21 Showcase, REALTORS has been a top selling Real Estate brokerage in the San Lorenzo Valley for the last 14 years! - 11/16/10 01:16 PM
We proudly trace our roots to 1974 as Showcase REALTORS, and in 1982 we became affiliated with the CENTURY 21® organization.
831-335-2100
… (0 comments)
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Patti Lyles, Santa Cruz County Short Sale & REO Agent (831) 335-2100
Santa Cruz,
CA
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Century 21 Showcase, REALTORS®
Office Phone: (831) 335-2100
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