foreclosure: 2nd Mortgage Lien Charged Off in Corona Eastvale CA - 02/12/11 07:20 AM
2nd Mortgage Lien Charged Off in Corona Eastvale CA
 
 
 
Help.....I just received a charge off on my home equity line. What does it mean??? 
 
 
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)

foreclosure: 2nd Mortgage Lien Charged Off in Corona Eastvale CA - 02/12/11 07:20 AM
2nd Mortgage Lien Charged Off in Corona Eastvale CA
 
 
 
Help.....I just received a charge off on my home equity line. What does it mean??? 
 
 
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)

foreclosure: 2nd Mortgage Lien Charged Off in Corona Eastvale CA - 02/12/11 07:20 AM
2nd Mortgage Lien Charged Off in Corona Eastvale CA
 
 
 
Help.....I just received a charge off on my home equity line. What does it mean??? 
 
 
Homeowners who purchased a home with 100% or more financing have overall 2 or more loans attached to their property. In the majority of cases, the 2nd loan is typically a home equity. As homeowner defaults, the 1st loan takes the 1st lien position, and the 2nd loan takes the secondary position, and so on. During the subprime crises, most home values in the Inland Empire decreased as much as 55%, making it impossible for the 2nd lien holder … (6 comments)

foreclosure: Shortsale vs. Foreclosure - 01/18/11 04:33 AM
Why is shortsale preferred over a foreclosure?
 
Firstly, shortsale is preferred over foreclosure because it may not damage a distressed homeowner's credit report and ability to obtain a new loan finance as much as a foreclosure. Homeowners will be able to qualify for a new loan owed by Fannie Mae much sooner than if they allowed the property to foreclose.
 
Secondly, and most important is that it lessens the impact in the community.
 
Some of the comparisons are as follows:
Issue                                                 … (1 comments)

foreclosure: SHOULD I SHORT SALE OR LOAN MODIFICATION MY RANCHO CUCAMONGA HOME ? - 01/17/11 09:24 AM
 
Are you a Seller A or Seller B. Sometimes, it is better to start anew. However, everyones situation is different. If you are in a bind and don't know which way to turn? Check out www.makinghomeaffordable.gov. There you will find all the necessary information that you might need to make your decision. Feel free to call me or any realtor who specializes in shortsale. We are here to help.
 
 

SHOULD I SHORT SALE OR A LOAN MODIFICATION FOR MY RANCHO CUCAMONGA HOME?
 
 
 
I am asked this question several times a week from desperate homeowner … (0 comments)