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president obama hope for homeowners: How About A Little Break...A Pictorial From The White House… - 05/17/10 06:17 PM
 
A break from the Regular Housing Stuff…Here are some just released photo’s from The White House…Hit This Link.
 

 
A break from the Regular Housing Stuff…Here are some just released photo’s from The White House…
 
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president obama hope for homeowners: VLOG...Obama Administration To Incentivize Servicers When They Approve Short Sales! - 05/14/09 09:13 PM
Obama Administration To Incentivize Servicers When They Approve Short Sales! by Kris & Kim on May 14, 2009 It’s not everyday that we get such amazing news from the White House….today the Obama administration announced new and updated details regarding the Making Homes Affordable (MHA). Program updates include details on Foreclosure Alternatives. These alternative will help to prevent costly foreclosures by providing incentives for servicers and borrowers to pursue Short Sales. Some Highlights: 1. Borrower incentives to cover relocation expenses to homes that are affordable. 2. Incentives for servicers to pursue alternatives to foreclosure. 3. Servicer must give borrowers/homeowners at least … (0 comments)

president obama hope for homeowners: TODAY>>>Changes for Short Sales From the Feds - 05/14/09 02:32 PM
The Feds just released...
1) Short sales: lenders can receive $1000 for accepting a short sale. (we understand that this is in addition to the $2,000+ Freddie Mac was paying as well)
2) Borrowers (Sellers)  can receive up to $1500 for doing a Short sale or deed in lieu.
3) Lenders are successfully doing loan mods and the fed is putting more money in the loan mod pot.
 
What a great time to be in real estate...
Great for Sellers underwater Great For Banks Who Are Overwhlemed by REO's Great for Buyers as Short Sales are sold a great value! … (0 comments)

president obama hope for homeowners: Loan Modifications Are Granted, Not Negotiated - 05/11/09 03:14 PM
After dozens of submissions for Loan Modifications for our friends and family…as well as our clients, we can confirm this….
In our experience, a loan modification is either Granted or Denied. The terms of the loan modification are solely up to the servicer. Investors that own the loans have their own rules and principals that the servicer follows.
Example: The  “Making Home Affordable”(MHA)program , rules are set by the federal government.  Unfortunately, these rules DO NOT override the investor rules…
If the documents governing the servicing of a particular loan — known as the Pooling and Servicing Agreement — prohibits a … (1 comments)

president obama hope for homeowners: Home Wrecker! - 05/05/09 02:05 PM
Victorville, CA…
Kim and I have 2 short sale listings next to this catastrophe’. Price drops have hit as much as 65% from their 2006 highs.
Despite the rhetoric coming from Washington’s talking heads, we still have 2 to 4 years of this devastation left in the So Cal housing market. Reason…Foreclosures are on the rise and buyers are having difficulty in getting loans. bad mix…Mr. Obama…we need you.
Home values are dropping like WWII Japanese Kamikaze’s. Protect yourself from the flak and strife of the worst financial market ever!
Thanks to Vision Victory for this powerful video.

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president obama hope for homeowners: Bank of America's New Stance on Short Sales - 04/27/09 12:40 PM
In an article released today, Bank of America is easing their policy to accept no less than 10% on HELOCs and 2nd mortgages.  The new policy is reducing the payoff amount to 5% for a short sale.
A majority (77%) of California foreclosures carry HELOCs and 2nd mortgages.
Short Sales on average,  result in less of a loss for banks. Typically the losses are 30% less than losses realized from the foreclosure process
The short sale is a desirable alternative to foreclosure or deed in-lieu. The short sale will impact the credit score and limit real property re-purchase from 24 to … (4 comments)

president obama hope for homeowners: Loan Modification Not Working? - 04/23/09 01:15 PM
Wish we could say that was a unique situation, but in California most loan modifications are not working! If you’ve been down that path and now realize that keeping the property is not an option, call us. Don’t just walk away from that property and give it back to the bank.
I know it’s an emotional time, and by now your probably mentally spent and feel like “your done” and there is no way to climb out of this.
There’s a light at the end of this tunnel, but it’s going to take some effort and time.
First, get your property … (0 comments)

president obama hope for homeowners: Foreclosure is Not the Answer...You Have Options - 04/22/09 12:45 PM
Foreclosure is an ugly word and there are few ways to avoid it.  The best and most effective answer is to sell the property.  If your upside down in value then it would be called a Short Sale…or selling the property “short” of what’s owed.  They are common place in todays real estate market…nationwide!
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president obama hope for homeowners: Your Homes Not Only Depreciated in Value...The Neighborhood is NOT What it Used to Be! - 04/14/09 07:00 PM
Something to think about when your trying to figure out how to keep that beautiful home you purchased a few years ago. If your like most homeowners, when you purchased your home,  you placed a good chunk of money down on a beautiful home in your desired neighborhood.  Oh and of course it didn't stop there....maybe a new kitchen, bathroom updates and some landscaping....bottom line you've got a lot invested in the home and the neighborhood!
While taking a Short Sale listing the other day,  in a beautiful,  newer housing development....
Our clients shared their story and what prompted them to … (4 comments)

president obama hope for homeowners: California Foreclosure "Shadow Inventory" between 80,000 & 100,000 Homes. Can It Get Any Worse? - 04/09/09 01:26 PM
Shadow inventory is the number of foreclosed homes not currently on the market.
What this means is that when this foreclosed inventory is unleashed, prices will be pushed down much further than projections estimated. Current estimates are a continued drop of 10 to 30% through December 2010.
RealtyTrac compared these figures to it's current inventory which only reflect 30% of foreclosures were listed.*
Also, there are many foreclosure moratoriums that are simply hedging the inevitable foreclosure. (CA SB1137 is one) These homes have not been reported, but they could be double the current projections.
What does this mean?
Continued steep drops … (3 comments)

president obama hope for homeowners: If your losing your home to foreclosure? A Video Series - 04/07/09 03:57 PM
Kris & Kim share thier Short Sale experience in a series of short videos.  They have helped families in trouble by negotiating Short Sales of proeprties that have become too much for the families to handle.  In many cases, Kris & Kim have helped these same families find homes to rent or lease…most of the families moved into much nicer homes than they sold.  Call Kris & Kim if you need help…714-615-7605.
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president obama hope for homeowners: VLOG This...Short Sale Myths...It's Not Too Late for Short Sale...Save Your Credit - 03/30/09 11:55 AM
Kris & Kim share their experience of a homeowner that was getting ready to lose their home to foreclosure. Save your credit from a foreclosure.  It will affect your credit negatively for up to 10 years. When you buy a new car, or apply for a credit card...you will feel the effects of your choice to foreclose versus a real estate short sale. If your in upside down in eauity, pre-foreclsoure, received a Notice of Default (NOD) or are looking at a Trustee Sale or Auction call Kris & kim today to talk out your options...877-391-2338 … (0 comments)

president obama hope for homeowners: Real Estate Short Sale Myths Video Series #1 - 03/30/09 10:57 AM
Kris & Kim share their secrets of working hundreds of Real Estate Short Sales.  There process has proven to be one of the most successful in the country.  In this series of videos, you will learn what bank negotiators are looking for and as a home seller, what to expect. If your upside down in equity, pre-foreclosure or have a pending Trustee Sale...call now...877-391-2338. … (0 comments)

president obama hope for homeowners: Loan Modifications…not an option for most homeowners in the Inland Empire and Orange County - 03/26/09 07:06 PM
Well, I guess by now most people that own a home in California have realized that the long awaited plan by President Obama to save our homes….is just not going to work…unless you are willing to continue living in a home that is most likely at least 50% upside down in value.
Also very likely that values are going to continue to decline for at least another year…plus+++
Here is where it gets crazy!  An FHA representative spoke recently about the 400,000 people that Hope for Homeowners was supposed to help…guess what?  One, 1 loan has been insured by the … (0 comments)

president obama hope for homeowners: FHA States: “Hope for Homeowners” Helps…1 Borrower Since June 2008 - 03/25/09 05:37 PM
Well, I guess “No Hope for Homeowners” would be the appropriate response to the program developed by the Bush Administration to help Americans facing the loss of their homes from rising monthly payments and declining values.
In a report by CNN, Brian Sullivan FHA spokesman stated: “As it stands now, we’ve only gotten 752 applications and only one insured loan!”
To give perspective, congress set aside $300,000,000,000 (Billion) to cover up to 400,000 families for this failed program.
Where is this money going? Why not give a tax credit to the families it failed to help? Below is a link to … (2 comments)

president obama hope for homeowners: Q: How many payments do I have to miss before they foreclose on me? - 03/18/09 09:59 AM
We recieve many questions a day...we are sharing some and giving our response.
 
The answer is 1 payment. You are in "default" when you miss or fail make a payment by the date agreed. This date was established and agreed to when the deed was executed.
However, your mortgage company must follow the laws as they pertain to collection, Notice of Default, Trustee Sale and Foreclosure in your state.
Your states foreclosure process can be as short as 90 days and as long as 1 year.
In my state of California, the process is approxiimately 150 days.
30 days in … (0 comments)

president obama hope for homeowners: California Homes in foreclosure Overvalued by More than $200,000.00 - 03/18/09 09:55 AM
In a recent release by Foreclosure Radar, the average California home in the deafault process had a mortgage value exceeding $200,000 of Current Market Value (CMV) for the month of February 2009.  A 189% increase in negative equity year over year.
Also released in this same report, there were 17,131 foreclosures in February '09.  An 11.9% increase over the previous month.
For more Information contact:
Kris & Kim Darney Platinum Real Estate 714-615-7605 … (0 comments)

president obama hope for homeowners: Mr. Obama Tried to Help...Just Too Much to Overcome - 03/06/09 04:21 PM
Mr. Obama has been given the daunting task of reviving the nations economy.  the main concerns on most Americans minds is that of the precipitous position of their mortgage and home values.In an effort to pacify his constituents, Mr. Obama rolled out the Home Affordable Modification Program March 4.The structure is sound...unfortunately the reality is unrealistic for many Americans.Why is it unrealistic?1. Your current homes value (Current Market Value / CMV) cannot exceed 105% of your primary (1st) mortgage.ex: A. Your homes value is $400,000.B. Your Mortgage amount cannot be higher than $420,000 or you will not qualify.
2. No reduction … (0 comments)

president obama hope for homeowners: Understand Mr. Obama's Making Homes Affordable - 03/04/09 08:21 PM
Mr. Obama has rolled out his new plan to help homeowners.
Check it out!
Direct Link to Mr. Obama’s Plan via The Department of The Treasury
Read the Q&A’s for a broad-stroke understanding.
More to come!
Kris 714-615-7605
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president obama hope for homeowners: Won’t Help Everyone.....President Obama’s Help For Homeowners - 03/04/09 06:10 PM
It’s here, we have all been waiting to find out what will be offered to help cure our bleeding housing market. President Obama’s plan is much stronger than I had anticipated. In summary, there are several components in place to help those families in a true financial hardship keep their homes.
For those of us living in areas like the Inland Empire…most of California, this plan does not address a solution dealing with the decline in our property and the fact that some of us are underwater by 50%! - Other than the statement made below by Mr. Baker ( co-director … (0 comments)