The making homes affordable plan is a good plan in theory....the problem is that the banks don't take you serious if you are having a hard time making your payments until you start missing your payments.

I have one client that has been having a hard time "like many others" making all his bills...he contacted Bank of America 4 months ago and only got somewhere today when they finally got him to the dept that can actually help him....

He has been told for the last 4 months "just keep making those payments and everything is fine"....to which he has responded for 4 months "the money is running out and that is why I am calling you early to let you know I have a problem"!

My question is this....Why would the bank not want to help someone that does the right thing and calls in ADVANCE to let them know that a big problem is coming soon? Why do they wait until you miss a couple payments to step up and realize that indeed the owner might be having a problem?

His frustration with Bank of America sounds like it is not the only situation out there where the bank is dragging their feet to actually help!

My opinion is, that sense he called early on and was given the run around and nothing has happened for 4 MONTHS to help him that he should go to the front of the line!!

Probably not though....it will be the people that have missed a couple payments...had their FICO's drop that will get the help first....Doesn't seem quite fair....but then what about this entire situation is?

Miss some payments....you will be taken seriously.....keep making your payments even though you have nothing in the bank and they won't help you....This I have learned from him....

Regards,

Richard

The senate voted to extend the first time home buyers tax credit and has offered up a move up tax credit to purchasers that have lived in their homes for 5 more years.

Here are the highlights to the new Bill-HR 3548

Trade up buyers that have owned for 5 or more years=up to $6500 credit.

First Timers or anyone that has not owned for 3 or more years=up to $8,000

Buyers MUST sign the purchase agreement by April 30th and close by June 30th 2010!

The credit is phased out for those with incomes above $125k single or $225k for joint filers.

This is a tax credit and not money back.

Looks like a GREAT time to trade up while interest is still low and inventory is high!

Regards

Richard

Search the local Redding Ca MLS

When people are going into or are in foreclosure one of the things that is for sure is the fact that stress makes you think differently! A common problem that owners face when they are losing their homes is their pets!

If you have pets and don't know what to do with them try no paws left behind.

This website can help you with this one aspect of your life so you don't have to add to your already high stress!

Finding a good home for any pets that can't go with you is the best thing to do...

There are laws against dumping animals and this website wants to help you if you need help?

Regards

Richard

California Loan Modifcation agents Kidnapped and Tortured-

If you are thinking of doing loan Mod's in California you better get results! This we learned from the recent kidnapping and torture of a couple loan mod agents that didn't get the job done!

I have heard of work related stress but come on here.....

There is the new law that took effect recently that says "no up front fee's"...you only get paid when it happens....this should hopefully help home owners across California.

Losing your home is a very stressful event....no doubt about it....there comes a time when you have to go left or right and if you loan mod is not getting anywhere and the Trustee's sale is coming up you might want to consider a Short Sale.....

To Loan Mod's that go through!

Regards,

Richard

The market is certainly different than it was 4-5 years ago so I have been doing things that I have never done before.I had a phone book on my kitchen table and struggled with picking it up and making some cold calls...I left the book on the table and had my 6 year old for the afternoon as I usually do on Tuedays and Thursdays.

He looked at the phone book and said "Daddy what is the phone book doing on the table?"...I responded that I was using it to call people to see if they needed my services. He replied "great let's open it up and call some people!"....I replied Ryan we can't just call people.....he replied " why not daddy?"....I replied well Ryan people probably won't want to talk to us about just anything....He replied "well you never know! What if they DID?

Wow...what if people Did want to talk with me on the phone and DID want to use me to help them!! What a refreshing way to approach it!!

The clarity and lack of fear that kids have!! Isn't it great!!

Thanks Ryan!!

Regards,

Richard

Search the local Redding ca MLS here now

Everyone is shopping for a deal...I am no different. The fact that the majority of the deals are in Short Sales and in REO's can not be overlooked.The banks unlike many sellers want to get their properties sold Quickly!

The banks for the most part reduce the price automatically every 30-45 days if they don't have an offer...Sellers can learn from this....Sellers can also as learn from the banks that price right in the beginning and get multiple offers!!

Here are some greater Redding area REO's to check out.

Where are the deals??? IN the REO's and Short Sales is the answer!

Regards

Richard

The Senate recently passed a bill that out laws the up front fees that many attorney's and real estate people and companies have charged.

Now similar to Realtor's the client pays ONLY if there is a successful result! This is the way it has always been for real estate agents and Realtor's...no sale....no pay....now it's the same for Loan Modification.

This is a good thing.It's good because too many people hired companies off the Internet to do their loan mods and they didn't get done!! They still had to pay and got nothing for their money!

I had some clients that paid upwards of $3,000 to have a loan mod done...I begged them to do a short sale and they refused....There comes a time in the process where as a homeowner that has stopped making payments you have to go left or right at that fork in the road....if you go left and spend time on a loan mod and it doesn't work then your home may indeed go back to the bank.

It's hard to decide no doubt because many people truly want to stay in their family homes...I can relate to this...but also if and when the time comes and you are not getting anywhere at least consider a short sale...yes you have to let the home go back but it is much better than a foreclosure on your record.

With a Fannie Mae loan backed product they say you can own again in TWO years if you do a short sale...VS. 7 years if you let it go to foreclosure....it's a big difference....even if you don' t think it is right now in this moment...you may in the future Wish you had done a short sale!

To getting the job done...to getting paid after the job is done!

Regards,

Richard

Search the Realtor's own MLS in Redding Ca here now.

It's a bizarre story. One that I hope has a great ending.Apparently a boy climbed onto and into a home made balloon that took off and went for miles.The family which includes an amateur scientist (the father) made this device which looks something out of a UFO movie in the backyard.

Let's hope the little guy is ok and didn't fall out!

When the family isn't chasing storms they are looking for ET....no really....

Superb stunt/PR or real life extra ordinary story? Time will tell....

Regards

Richard

Search the local Redding Ca MLS