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the laura lake group: HAFA Short Sale Program Changes taking effect June 1, 2012 - 05/30/12 03:05 PM
The following HAFA (Home Affordable Foreclosure Alternative) will go into effect June 1, 2012 The most important change is that the HAFA Short Short Program has been extended to December 31, 2013. Other Important Changes: The removal of occupancy requirements. Previously, HAFA required homeowners to have lived in the property within the last 12 months. $3,000 relocation incentives will be limited to properties occupied by an owner or tenant at the time of the short sale. Mortgage payments will be allowed to exceed the 31% of the homeowners gross monthly income. This update will allow a homeowner to stay current on … (1 comments)
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the laura lake group: Upside down on your mortgage? - 05/30/12 02:47 PM
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the laura lake group: FHA's Pre-Foreclosure Program - Helping Distressed Homeowners avoid Foreclosure - 05/29/12 08:39 PM
FHA has a Pre-Foreclosure Sales Program for distressed homeowners who have a FHA loan to help them avoid foreclosure. Eligibility The property must be owner-occupied, no "walk-a-ways" or investment properties. The Borrower must be 31 days or more delinquent at the time of the Preforeclosure Sale Closing The borrower must provide documentation substantiating a reduction in income or an increase in living expenses, and documentation that verifies the Borrowers need to vacate the property. to lean more about the FHA Pre-Foreclosure program, visit: www.StopMyDesertForeclosure.com See how long you need to stay in your home before you have equity again, visit: www.StayorSellMyHome.com … (0 comments)
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the laura lake group: Keller Williams is a Top 10 Best Place to work I am proud to be part of KW - 05/20/12 08:47 PM
I have been with Keller Williams since 2004 and I have loved every minute of it. The culture, the education....Congrats to all the KW people out there! 2012 is rocking!
http://www.kw.com/kw/pressrelease.html?pressReleaseId=341
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the laura lake group: Bank of America Short Sale Update - Get up to #30,000 in relocation assistance - 05/17/12 06:45 PM
ATTENTION CALIFORNIA HOMEOWNERS:
Bank of America's Short Sale Relocation Assistance Program: Receive $2,500 to $30,000 in relocation assistance
If you want to avoid foreclosure. We can help you and so does Bank of America!!!!
Bank of America has announced that for a limited time, they are offering enhanced relocation assistance payments in which qualified homeowners who initiate a short sale without an offer could be eligible to receive $2,500 - $30,000 in relocation assistance and owe no more on their mortgage with the sale of their property.
Don't wait to take advantage of this assistance....the window to … (1 comments)
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the laura lake group: Robo-Signing Settlement is Historic but NOT Without Controversey - 04/07/12 07:49 PM
On February 9th 2012, the United States Justice Department released the details of the $25 billion dollar settlement they reached with 5 major banks. "The Settlement occurred because the banks were accused of widespread use of "robo-signing".
Robo-signing is a practice employed by banks to automate the processing and approval of foreclosure proceedings against homeowners. In many cases the banks were discovered to have processed thousands of foreclosures in a single day, all signed by one person.
Laura Lake, A Certified Distressed Property Expert (CDPE), believes that the settlement presents a unique opportunity for homeowners who are in danger of losing their … (1 comments)
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the laura lake group: Short Sale help is just a click away - 04/01/12 05:31 PM
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the laura lake group: Indio is on sale now!!! - 04/01/12 05:21 PM
Indio is on SALE and NOW is the time to buy. Call The Laura Lake Group at 760-609-4601 right now to get started on your search and determine your Purchase Power. We have lenders standing by to work with you if you need financing for your home purchase. Spend some time shopping at www.BuyandSellPalmSprings.com where you can search for homes Just like a Reator. Search for Indio Foreclosures and Indio Short Sales or avoid them both. Enter your criteria and receive new listings in your IN BOX before the rest of the world has a chance! See all North Indio Listing … (0 comments)
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the laura lake group: Worst Housing Crisis since the Great Depression - 03/26/12 06:41 PM
With over 10.9 million families in trouble, more must be done to help! While Bank of American, Chase and Wells Fargo are implementing procedures to help more homeowners, for many it's too late. We need to act faster and get through was many are calling the worst housing crisis since the great depression.
What are the numbers?
As of January, 2011
6 million delinquent or in some stage of foreclosure 2.5 million likely HAMP/HAFA eligible 60+ days delinquent loans As of 1/30/2012, there are 960,000 active permanent HAMP modifications Total US delinquency rate 8% (4 million) Unemployment rate nationwide 8.3% (nearly 13 … (3 comments)
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the laura lake group: So Where is all the Shadow Inventory????? - 03/13/12 02:00 PM
I get buyer calls every week asking "where's all the bank owned homes".
In the Coachella Valley, we currently have a shortage of inventory and believe it or not (the numbers don't lie) we are currently in a balanced market overall. but some others are doing better than others.
As of the end of February, 2012, Bermuda Dunes has 5.12 months of inventory, while La Quinta has 7.69 months of inventory. Rancho Mirage is currently at 11.31 months of inventory.
Some of hottest areas is North South Indio at 2.08 months of inventory and North Cathedral City at 3.57 months of inventory. … (3 comments)
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the laura lake group: This month in Real Estate - 03/13/12 01:58 PM
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the laura lake group: IMPORTANT UPDATE: HAFA's sister program HAMP gets extended through 2013 - 02/29/12 09:13 PM
IMPORTANT UPDATE: HAFA's sister program HAMP gets extended through 2013
The Treasury Department announced that the Home Affordable Modification Program (HAMP) - which is the sister program for HAFA - was extended by one (1) year through December 31, 2013.
This means eligible consumers will have more time to apply for a HAMP modification. Other changes to HAMP include higher Treasury paid financial incentives for Fannie Mae and Freddie Mac to forgive principal, and an easing of program guidelines so that homes occupied by renters are also now eligible for the program.
We expect that the HAFA program, since it's … (3 comments)
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the laura lake group: Lenders Accelerating the Foreclosure Process Throughout California! - 12/20/11 09:46 PM
Lenders Accelerating the Foreclosure ProcessThroughout California!
Throughout the major California markets resale home inventories aredown to almost a two-year low.
Lenders are preparing to liquidate their "shadow inventory" in anticipation of the spring selling season heating up. Going to the next step, lenders have accelerated filing Trust Deed sale notices by following through on backlogged (pending) NOD notices.
News events point out the decline in bank stock prices providing further motivation for banks needing more liquidity.
Accomplishedreal estate writer Alejandro Lazo of the Los Angeles Times has provided statistical data that points to waves of inventory about to hit … (2 comments)
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Laura Lake - La Quinta Short Sale Specialist
La Quinta,
CA
More about me…
Keller Williams Realty La Quinta
Address: 47170 Washington Street, La Quinta, CA, 92253
Office Phone: (760) 601-3000
Cell Phone: (760) 609-4601
Email Me
Many homeowners are asking themselves a very difficult question. "Do I Short Sale my Home or stay and tough it out?"
This free service will help give you the knowledge you need to help you make an informed decision
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