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TARP Money ~ Loan Modifications & Workouts ~ Hope for Some ~ Thank You AR for the Lifeline!

By
Real Estate Agent with The Address Realty BRE#01299346

What exactly is social networking and how important is it in what we do as Realtors. I would like to go on record and say that it is BIG TIME and no matter who you are....new blogger, ActiveRain Addict or Celebrity blogger.....social networking IS the future.

I have gotten over 50% of my business from blogging and my Internet presence. It is complex in what I do. I've followed the lead from ActiveRain and I provide video (Mixpo) and Virtual Tours for all my listings. I use VFlyers.com for all my listings to distribute them out to the mature real estate websites. I use Vflyers to publishes to Craigslist in my local area (for free). I develop dedicated websites for all my listings. I produce beautiful signage for my listings, promote and showcase the dedicated websites that use Dynamic Range Photography to fully promote the property. When needed, we use HD Video for a walk through home tour. Technology rocks and we are so dedicated to the latest features that we can offer the consumer. We build websites that promote our listings and our local listings. We market to the world at large and have many out of town buyers call daily.

We recently have had a professional move in location. We moved our offices from a remote Westside location to a central Westside location in the Downtown Area. We experienced a few communication issues. These issues are being resolved as soon as AT&T will allow.

I also recently moved my primary residence. It is a larger home and allows us to have two separate offices as my husband's business seems to be more promising than my real estate business.

I've missed everyone to pieces and I apologize for not being present and respondent. It has been a very hard year with the death of my son on March. We moved out of our home due to the bills from my son's illness. It depleted our financial estate. I have to say that I don't know if it was wise to spend our last dime to try and save our son, however we have never looked back. No one can deny the help needed for a child.

We left our home because we no longer had faith that we could honor the commitment. We moved into a much smaller home and during that time my son passed away. It was very hard. The bank never allowed us to proceed with a short sale and even though we had three buyers, we were never allowed any communication about the short sale.

We finally gave up and decided that based on the state law, we would be better off on original purchase money to allow it to go to foreclosure. We waited and and waited. They never even filed a Notice or Default. I called diligently month after month asking why they did not foreclose.

In March, we received a workout proposition from Wells Fargo (Wacovia--after a year and half) saying that they would forgive 20% of the loan value and the back payments that amounted  $41,000). They would provide us with a 3.5 interest loan for one year with it increasing each year by .5% up to 5 years. We had hoped for 10....however five is certainly resonable.

We had an A paper loan for $391,000. They basically reduced the loan amount and added attorney fees  and impound account fees to the backend of our loan to re-adjust our loan to $330.000. We are still out of WHACH by about $50,000....be we decided the gain outweighed the risk and accepted the workout.

We are scared...no doubt. However, the future always lumes bright and we feel that this new opportunity could not be denied. We are eager for the future and it feel very good to be back in our home. I wish for all people who have undergone these hardships this opportunity. I pledge my heart and soul to helping everyone I can, realize this opportunity that has become available.......HOPE! I help sellers with short sales and now I will help sellers with loan modifications. It is the best hope we have for our real estate market to stabliize. I personally believe that at this time the TARP money is extremely limited. We can only hope that more will be allocated to keep people in their homes.

I've missed everyone tremendously....and I have to say that during our ORDEAL that lasted over a year....it is ActiveRain that gave me hope and the power to PREVAIL! I needed more than real estate. I needed realtionship and connections and I SO got it. Thank you all!

Thank you AR and family of friends!

Posted by

Jeanean Gendron - Specializing in Marketing and Selling Unique Properties--We love where we live and work and we love our listings. This is why we specialize in marketing and selling unqiue properties that have been developed to the highest and best use of the land.

 

It is a priviledge to market a well developed property that promotes a lifestyle Buyers are looking for. It's not really about a price range but about the lifestyle and the Buyer who will find that it has value. MARK IT SOLD!

 

Jeanean Gendron

 

Specializing in Marketing and Selling Unique Properties

 

866 441-0078

 

Learn more about how we market and sell our listings:

 

Marketing the Land - Marketing the View - Marketing Luxury - Marketing Lifestyle

 

SELLERS: FREE MARKET VALUATION--If you are looking to sell your home in Shasta County, CA or in the Redding CA area, we specialize in marketing and selling unique properties. We SELL our listings. With a pervasive web presence (15+ websites/blogsites) we are able to target specific Buyers interested in your property. With the right price point, beautiful marketing and by knowing who our Buyer is, we are able to sell all our llistings. We provide the Buyer with the tools, information and knowledge they need to identify and buy the right property here in the North State. We have Buyers contacting us to relocate to the North State daily.

 

We target the local, regional, national and international markets.

 

MARK IT SOLD!

 

 

BUYERS: If you are looking to relocate to the North State download our free RELOCATION GUIDE. It has local demographics and photos of the beauty of the surounding areas. We love living and working here in Shasta County, California. We are photographers and so we share the beauty with you. We also provide you with a FREE MLS ACCOUNT for ALL ACTIVE LISTINGS IN SHASTA COUNTY, CA. You are able to save searches and receive email notice for new listings. Real time data that helps you understand the market values in Shasta County, CA.

We call it Living The Shasta Lifestyle!

 

Featured Listings - Redding and Shasta County Real Estate Resource - How Much Is My Home Worth ~ Search all Homes in Shasta County -  Dream Home Finder - Search for Schools in Redding and Shasta County

Jeanean Gendron

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Visit our main real estate website that provides you with the ability to Search the MLS and to set up A FREE MLS ACCOUNT so that you can save searches and select favorite properties. See all Shasta County MLS Listings in real time. I also have many saved searches for unique properties (ranch, views, river, acreage).

 

There are saved City Searches and Community Searches for all of Shasta County.

 

 The Shasta Lifestyle is our blog site where we showcase our photography and the beauty of the North State and why you want to live here.

 

Here are my websites/blog sites:

 

REDDING COMMUNITIES

Redding Real Estate Ramblings

 

LUXURY HOMES

Redding Luxury Homes

 

RESALE OCHOA & SHEHAN HOMES

BelAir EstatesCrown MeadowsSummerfield Meadows

New Homes Shasta County

 

All Rights Reserved © 2014 Jeanean Gendron

Janna Scharf
Keller Williams Realty Coeur d'Alene - Coeur d'Alene, ID
Coeur d'Alene Idaho Real Estate Expert

Welcome back, it was good to see you pop up again!  I have this quote of Helen Keller framed in my office:

"When one door of happiness closes another opens; but often we look so long at the closed door that we do not see the one which has been opened for us."

Having come off of several challenging years myself, my heart goes out to you.  I wish you all the best as you regain your strength and momentum.

Apr 19, 2009 02:29 PM
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate

Jeanean, good to see your face on my dashboard. I appreciate your honesty. What a shame they wouldn't deal with you on Short Sale with 3 buyers. Best of success to you in your new location and your loan modification. (((hugs)))

Apr 20, 2009 12:32 AM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

Jeanean, Thank you for the post. An honest post enriches us and motivates us all. Even when there are some tough things going on. You have all my best wishes and good to see youback

Apr 20, 2009 12:39 AM