foreclosure: Love Bank of America - 07/12/10 03:11 PM

 
Worked for the past 11 months on a Bank of America Short Sale. BOA approved the short sale both on first and 2nd. Contract called for closing by July 30 2010. Buyer placed cash funds in escrow to close and record tomorrow. Bank of America foreclosed on the property today. They would not give a 24 hour extension. We begged. Who pays the difference, the continued losses, yes we the tax payers. This is the worst experience in my 33 years as a broker. I heard over and over again today, no common sence, it makes no sence. Its … (7 comments)

foreclosure: Foreclosures, Shortsales & Bank of America - 06/11/10 01:59 AM
A Sonora California seller in August 2009 made a decision that he was unable to afford living in his modest 3 bedroom, 2 bath home. He like so many in the Florida, Nevada, California and much of the United States was living in a community with job losses, high unemployment, a shrinking California economy and personal medical issues.
Previous to August 2009, he personally attempted for 6 months, to work with his lender for some form of modification. He became frustrated and listed his home getting no where with Bank of America.
He listed his home and the home failed to … (1 comments)

foreclosure: Short Sales Downsize Risk- Be Careful - 08/18/08 03:12 PM

August 18 2008 by Jim W Hildreth RE/Max of Sonora
As each of us knows that one markets a "Short Sale" both the consumer and the agent takes a risk in the final outcome.
I have been involved in a "Short Sale" since early July; today after nearly 70 day's we found out our short sale was approved subject to the investors approval.
We were told know we must wait up to an additional 30 day's for the next phase.
Today I talked with an MLS member who stated he has been waiting nearly 4 months, in the end the … (4 comments)

foreclosure: New California Mortgage Bill - 07/08/08 12:12 PM
July 8 2008 by Jim W Hildreth Broker, RE/Max of Sonora
Attention California agents and Brokers. Cailfornia has a new mortgage bill that you should be aware of especially for those clients who may be facing foreclosure.
 Mortgage lenders must contact California home borrowers to explore loan modifications by phone or in person before starting foreclosure proceedings under a new law Gov. Arnold Schwarzenegger signed today.
Senate Bill 1137, which takes effect immediately, prohibits lenders from filing a default notice until 30 days after contacting a borrower or making legitimate attempts to do so. The new law by Sen. Don Perata, … (3 comments)

 
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Jim W Hildreth

Real Estate Mediation Services

Sonora, CA

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Jim W Hildreth Real Estate Brokerage & Mediation Services

Address: 950 S Washington St, Sonora, CA, 95370

Office: (209) 536-1103

Mobile: (209) 988-3905

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