CAN, OR SHOULD I KEEP MY HOME? ANSWERS FOR TEMECULA HOMEOWNERS.

Do you know about HELP – Homeownership Education Learning Program?  They are a non-profit organization that provides information to homeowners and potential homeowners. They provide information at no cost answering such questions as: Where is my bail out? Who can I trust? How does a note modification work and am I going to have tax consequences? If they foreclose, when can I buy again?

There is a class scheduled for here in Temecula on Wednesday, November 10th between 6 and 9 p.m. at the Temecula Public Library 30600 Pauba Rd, Temecula, CA.

Register for: Can, or Should I keep My Home?

There is a lot to learn – plan for  a class 90 minutes long with  30 minutes for Q&A. Bring pen and pencil to take notes.

Introduction: 15-20 min.
-Panel Members, present and not.  Web Site resources and introduction to blog.
-What happened?  In brief, how did we get here?
-Prediction of the market in general.
-Time frames for foreclosure process / Why the banks don’t foreclose? / Should I stay if I’m not making my payments?
-Try To Modify, If To No Avail, Short Sale!  Never Walk Away.
-Credit damage and when will I be able to buy again?  Take action early!
-Modify? Short Sale? Foreclose?  Understanding why each situation is unique.  One size does not fit all.
-Why is it better to cooperate with a Short Sale than to just let the bank foreclose?

Statistical Data: 15 min.

-Power Point presentation providing current data to help clarify what is happening in the region by the numbers.

Modifications: 20 min.

-What’s legal and what’s not.
-Who’s legally set up with The Department of Real Estate.
-What you must know to avoid being a victim.
-Why are we hearing stories of great success when I’ve been waiting for months?
-What is the Banks motivation?

Taxes: 20 min.

-What is Prop-8?
-I paid 300k but I’m paying taxes based on 450k, why?
-What if I can’t pay my property taxes?
-What are the potential tax consequences under a short sale, foreclosure, forbearance, modification, etc.
-What is the difference between what the Franchise Tax Board is doing and the IRS?
-What exactly is debt relief?  Does the lender have to give me a 1099 for said relief?
-Can I file bankruptcy against these future taxes?

Q&A: 20-30 min.

From HELP: “Please note-All information is deemed reliable and was researched prior to this presentation.  The presenters are expressing their opinions only and are not offering any legal advice.  The County of Riverside is not endorsing any company or individual.  All attendees are encouraged to seek individual advice structured around their own unique circumstances.”

Robert Deane is a Real Estate agent serving the Temecula/Murrieta area of Riverside County and is a Certified Distressed Property Expert. You can find a wealth of information on the Temecula Market and foreclosure alternatives at TemeculasNeighborhoodExpert.Com. Sign up for our mailing list and you will receive reports providing you the information you need to make an informed decision.