I always tell my clients "It's us against the banks!" I'm on your side! I take your story, your hardship, your situation and present it to your bank. This is the beginning of a short sale! Short sales can take 3-6 months, sometimes nine months! Ideally we want this to be shorter, but we're at the mercy of the banks! And they're understaffed and overworked!!!! Keeping you updated with the truth, while you wait! That's what I do! For Banks, it's all about their bottom line. They make … (6 comments)
foreclosure: DO YOU LOVE IT?
- 09/29/10 05:29 PM
DO YOU LOVE IT? I'm a stickler for "Loving the Home you Purchase"! Others may say, here's 5 houses - Pick one. Or, this is what you have to chose from, just grab one! I'm a firm believer of, if you're going to spend $250,000, $380,000, $500,000, A million on a house, "You Gotta Love it"! I sold this home to a family who did love it! That excited me! And... I represented the seller! In the past 9 months buyers have been trying to get into a home, any home, they just wanted a home. Maybe the $8000 Obama … (9 comments)
For FHA, Loans Mortgage Insurances is needed because down payment is only 3.5%. Therefore the remaining loan requires Mortgage Insurance. Now, some of you are saying, "What is Mortgage Insurance and why do I need it?" "Mortgage insurance, is an insurance policy which compensates lenders or investors for losses due to the default of a mortgage loan. It can be either public or private depending upon the insurer. " What do you need to know? Coming October 4th, Upfront Mortgage Insurance Premiums cost is going DOWN from 2.25% to 1%!!! These are a … (4 comments)
foreclosure: Should Anyone who did a Straight Refi or Cash Out be protected against the Deficiency Balance?
- 09/01/10 04:19 PM
I wrote this for my blog "The Litterbox", and I'd thought I'd share it with my Active Rain Colleagues as well. I also want to get your opinions, so tell me what you think about this law? California State Assembly Passes SB 1178-Who does it protect? On August 19, 2010 The California State Assembly approved SB 1178. This bill extends the protection for homeowners who have refinanced their "original mortgage loans" who did not pull money out and are either going through foreclosure or a short sale. Question- Does this apply for people who have done loan mods as well, some of which the … (0 comments)
foreclosure: What are your Rights if your a Tenant in Foreclosure?
- 08/16/10 09:48 PM
On Sunday, I watched Channel 9 "The Turko Files" he talked about Tenants in Foreclosure! I've been wanting to do a blog post about this for months! He interviewed a man who signed a lease option to own until 2012. He had paid his rent through October, when he got a knock at the door for him to vacate because the house had been foreclosed upon and the new owner offered him $2000 to vacate immediatley. Needless to say, he said no at first; then they came to an agreement for $4000 and to be out by Sept. 1st. For Tenants in Foreclosure! What are... their rights? The … (5 comments)
It's us against the Banks when it comes to Short Sales!!!
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