San Francisco Homeowners

  Are you unable to maintain your mortgage payment(s)?

  Are you considering the options such as Foreclosure or Bankruptcy?

  A Short Sale may be the Pre-foreclosure option may be best option.  A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future.  Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment 
Loss of Secondary Income 
Medical Related Issues 
Divorce or Separation 
Military Transfer or Deployment 
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance 
Interest Rate Adjusted 
Balloon is due 
Huge Negative Amortization

San Diego Homeowners

  Are you unable to maintain your mortgage payment(s)?

  Are you considering the options such as Foreclosure or Bankruptcy?

  A Short Sale may be the Pre-foreclosure option may be best option.  A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future.  Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment 
Loss of Secondary Income 
Medical Related Issues 
Divorce or Separation 
Military Transfer or Deployment 
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance 
Interest Rate Adjusted 
Balloon is due 
Huge Negative Amortization

Inland Empire Homeowners

  Are you unable to maintain your mortgage payment(s)?

  Are you considering the options such as Foreclosure or Bankruptcy?

  A Short Sale may be the Pre-foreclosure option may be best option.  A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future.  Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment 
Loss of Secondary Income 
Medical Related Issues 
Divorce or Separation 
Military Transfer or Deployment 
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance 
Interest Rate Adjusted 
Balloon is due 
Huge Negative Amortization

Orange County Homeowners

  Are you unable to maintain your mortgage payment(s)?

  Are you considering the options such as Foreclosure or Bankruptcy?

  A Short Sale may be the Pre-foreclosure option may be best option.  A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future.  Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment 
Loss of Secondary Income 
Medical Related Issues 
Divorce or Separation 
Military Transfer or Deployment 
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance 
Interest Rate Adjusted 
Balloon is due 
Huge Negative Amortization

Los Angeles, California Homeowners

  Are you unable to maintain your mortgage payment(s)?

  Are you considering the options such as Foreclosure or Bankruptcy?

  A Short Sale may be the Pre-foreclosure option may be best option.  A short sale pre-foreclosure process is at no cost to you and may be far less damaging on your credit for your future.  Here are some hardships that may qualify for short selling your home:

PERSONAL RELATED REASONS

Loss of Employment 
Loss of Secondary Income 
Medical Related Issues 
Divorce or Separation 
Military Transfer or Deployment 
Job Relocation

MORTGAGE RELATED REASONS

No Equity available to Refinance 
Interest Rate Adjusted 
Balloon is due 
Huge Negative Amortization

  This week a $25+ billion settlement was announced, the so called mortgage relief fund, thus being one of the biggest multi-state settlement since the 1998 tobacco agreement.  This settlement is between the federal government/state attorneys general and with the banks Bank of America, Wells Fargo, JP Morgan, Citigroup and Ally Financial (formally GMAC).

The $25+ billion settlement goes as following:

$17 billion in credits to the banks on homeowners in risk of defaulting on their mortgage. Up to $20k per homeowner on their modification.  (hmmm... it not the average home underwater about $50k?)

$5 billion in cash payments to borrowers who were wrongly or illegally foreclosed on between Sept.2008 to Dec. 2011.  The max payout for the borrower to receive is $2k.  (which is a nominal amount for a person foreclosed on that was forced to sign a loan they should not be in...yes, sarcasm)

$3 billion in credits to the borrowers that are currently in need of refinancing or some sort of modification.

$1 billion is the plus "+" that is currently unknown???

  Now before you all think this is a great idea or win for the little man.  This settlement is going to be funded from investors and taxpayers and not the banks.  So get ready for more government issues,  mortgage backed securities issues, and a longer recession.

   Late this week Feddie Mac noted that the rates are still on a low with hopes that home buyers would purchase and home owners would consider refinancing.  Here are the rates at the end of this week...

30 yr Fixes Mortgage Rates

• 3.87% - Current Rate
• 3.87% - Lowest Rate within a Year
• 5.05% - Highest Rate within a Year

15 yr Fixes Mortgage Rates

• 3.16% - Current Rate
• 3.14% - Lowest Rate within a Year
• 4.29% - Highest Rate within a Year

5 yr Adjustable Mortgage Rates

• 2.83% - Current Rate
• 2.80% - Lowest Rate within a Year
• 3.92% - Highest Rate within a Year

1 yr Adjustable Mortgage Rates

• 2.78% - Current Rate
• 2.74% - Lowest Rate within a Year
• 3.40% - Highest Rate within a Year

  Well now, here are a few things to possibly look forward to during your beach time in friendly "Sunny So. Cal."

  Increased fines and restriction are to be enforced this Summer on the Los Angeles County beaches.  The LA official's reasoning is that during the peak season this ordinance will protect people and property on and near the beach. This ammended ordinace was recently approved by the Board of Supervisors and here are a few of the highlights:

• Beach goers are prohibited “to cast, toss, throw, kick or roll” any object “upon or over any beach” between Memorial Day and Labor Day (but during the off-season the new rules will be relaxed)
• Beach Ball or Volleyballs are permitted
• Beach goes and their children are prohibited digging any hole deeper than 18 inches.

FINES:

• 1st Time Offender - $100 fine
• 2nd Offense - $200 fine
• 3rd or more (within one year) Infractions - $500 fine

  I guess I better paint my football white and call it Wilson so I don't get in trouble this year...

  It seems that many are saying that the numbers recently have reached an all time low, since the recent prerecession.  1.9 mil. homes that were in foreclosure last year is similar to that of 2007 and before.  Of course Nevada, Arizona, and California are holding a seat at the head of the table within the high ranks of homes in foreclosure.

  But the numbers for 2012 will be back up just not as extream as the recent times years.  However until the next wave of domestic and international economic issues comes to light we are still not out of the woods.  Real estate was a huge catalyst for this so called recession but the aftermath is yet to settle, as we are seeing in the world economic news. There will be an end to this downward economic fall we are living in but not within this year.

Even though I'm a transplant I still love living in Southern California.  But with that in mind I realize that Cali has a lot of Top 10 rankings, especially the most polluted.  So here are the sad rankings of this Top 10.

1. Bakersfield and Delano, California
2. Los Angeles, Long Beach, and Riverside,  California
3. Visalia and Porterville,  California
4. Fresno and Madera,  California
5. Pittsburgh and New Castle, Pennsylvania
6. Modesto,  California
7. Birmingham, Hoover, and Cullman, Alabama
8. Phoenix, Mesa, and Glendale, Arizona
9. San Diego, Carlsbad, and San Marcos,  California
10. Sacramento, Arden, Arcade, and Yuba City,  California /Nevada