foreclosure: Nephew Goes Upside Down - 08/23/09 11:12 AM
I have a nephew with a young family that asked for some advice. Seems their mortgage is now upside down and their mortgage payment has increased. They wanted to know what to do.
The have tried to talk to the lender, but no response.
I told them that they have a … (2 comments)
foreclosure: Are More Foreclosures Coming? - 04/15/09 11:15 PM
The lead article in today's Wall Street Journal says that the nation's largest mortgage companies are stepping up forclosures. Now that the new administration has announced it's rescue plan, the moritorium on foreclosures has been lifted.
It looks like the majority of bad loans will not be restructured and will … (2 comments)
foreclosure: Mortgage Paid Today Delinquent Tomorrow - 04/09/09 10:25 PM
The newest worry for property managers is that their client will go into foreclosure after the manager finds them a tenant. Some managers are trying to figure out how to solve this problem.
How in the world can you make sure someone will pay their mortgage month after month? I cannot … (6 comments)
foreclosure: Don't Jump the Gun on REO's or Any Property in Escrow - 07/16/08 10:43 PM
This week we had one of our property management clients ask us to start advertising a property for rent. The property is an REO property they were purchasing and escrow had not closed.
I can think of the following reasons not to do it:
1. The bank would need to give … (9 comments)
foreclosure: How to Qualify a tenant that has just been Foreclosed - 07/05/08 01:48 PM
In this market, many of the people that are losing their homes to foreclosure are applying to rent property. This is either a great opportunity for landlords or a mine field that will eventually catch the landlord and blow them up.
Our company has decided to take a middle of … (19 comments)
foreclosure: West Nile Virus and Sacramento and Yolo Counties Part 2 - 05/13/08 11:54 PM
Sacramento-Yolo Mosquito and Vector Control District
Of special concern for the District are the high numbers of foreclosed homes in the area that have abandoned swimming pools. For the past few months, the District has been working closely with various city and county agencies to obtain lists of foreclosed … (1 comments)
foreclosure: How Does a Foreclosure Affect the Tenant (in California) - 05/06/08 02:13 PM
With the large numbers of investors losing their rentals to foreclosure, it is no wonder that lots of tenants have questions about the process. Here is some information on the subject, but be aware that HomePointe is not an attorney and you should seek legal counsel before acting on any of … (12 comments)
foreclosure: Is Property Management Recession Proof? - 02/23/08 12:37 AM
I have been managing residential rentals in Sacramento, CA for almost 30 years. I have seen all the markets both good and bad. In a good sales market, builders are building, investors are buying, and some people don't want to sell but must move. All those types become my clients. We … (13 comments)
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Robert Machado, CPM MPM Sacramento Area Property Manager and Property Management
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I have a nephew with a young family that asked for some advice. Seems their mortgage is now upside down and their mortgage payment has increased. They wanted to know what to do.
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