foreclosures: Future Home Buyers! Plan Now! Where? When? How Much? - 09/14/10 09:54 AM
This letter is to future buyers. O.K. you want to own a home and you want to make the right choice. Have you done your home work?
 Location and Price are your first concerns. Close to work should be a consideration for the fact that it gives you more time with your family. Having to drive for hours each week takes its toll on you and your home life. Research the area for good neighborhoods, good schools and shopping close by. Don't rule out an area because you think it has negative demographics. Check out, if it is in the process … (3 comments)

foreclosures: Lender's May Come After Default "Refinanced" Loans In CA! - 05/20/10 02:10 PM
Los Angeles Business Journal
Foreclosed homeowners could owe ‘tens thousands of dollars' to lenders

Facing the possibility of foreclosure, California homeowners may be hit with more than just losing their homes. Due to a loophole in state law, they also can be sued by their lender. To prevent this, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) is sponsoring Senate Bill 1178 by State Sen. Ellen Corbett (D-San Leandro), which will extend anti-deficiency protection for consumers who have refinanced their original mortgage loans and now are facing foreclosure.
KEEP THIS IN MIND
• Currently, if a homeowner defaults on a mortgage used … (0 comments)

foreclosures: Financial Plans for 2010!! Get Out of Debt! - 12/28/09 03:05 AM
This year let's start off with a financial plan to change what has been wrong with our spending habits.
Examine your goals for 2010.
How you spend your money is a decision that you make. Most people have no idea where their money goes. I suggest that you keep track of every penny you spend for at least 2 or 3 months. I know it is a big commitment to make but it will pay off. Once you become aware of where your money is going, you can then get control of it and you will see where you can save. … (7 comments)

foreclosures: Suspended Foreclosures for the Holidays - 12/18/09 08:54 AM
The news is out! Just released on the news is the Fannie Mae and Freddie Mac will not put people out on the street for the next 2 weeks!
 
Fannie Mae and Freddie Mac will suspend foreclosure evictions from December 19, 2009 through January 3, 2010.  To help struggling families over the holidays, both owner-occupants and tenants living in properties foreclosed upon by Fannie Mae will not be evicted.  Freddie Mac's suspension of evictions will be limited to properties up to four units.
In a similar move, Citigroup Inc. will suspend foreclosure sales and evictions for 30 days through January … (2 comments)

foreclosures: Sites to Get Help to Prevent Foreclosure in Orange County, CA - 10/26/09 03:22 PM
Need help to avoid forclosure? Here are a list of site where you can get help and no up front fees!
1) Making Home Affordable: www.makinghomeaffordable.gov
2)Consumer Credit Counseling Services: www.cccsoc.org
3) Neighborhood Housing Services: www.nhsoc.org
4) Fair Housing Council: www.fairhousingoc.org  
5) Orange County Home Ownership Preservation Collaboration: www.ochopc.org
6) Legal aid Society: lasoc.com/LoansMods.aspx
7) to find HUD-certified counseling agencies: www.hud.gov
To find foreclosure prevention classes; go to agencies above and click on Calendar or Workshops 
  
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foreclosures: 50% That Got Mortgage Help are Behind One Year Later? - 10/01/09 11:42 AM
Reading an article in the Orange County Register, I was surprised by the report. It states that the borrowers that got help have fallen behind in payments 1 year later. total of 50% of the homeowners with loans modified in the first half of last year had missed at least two payments a year later reported by Office of the Comptrooler of the Currency and the Office of Thrift Supervision. O.K. that looks real bad!
The homeowners didn't really get any help! The group they are talking about either had their mortgages lef the same or increased. They didn't get any … (4 comments)

foreclosures: Knowing the Pit Falls of REOs - 02/27/09 06:36 AM
When selling REO properties you have to be aware and understand the language  plus the terms in the standardized contracts that are used thoughout the nation, such as HUD, Fannie Mae, VAto to mention a few.
Buyers can be charged a per day FEE for any delays in closing that are caused from their side of the transaction. this can be a delay caused by their bank, them or their realtor. It doesn't matter which one of them cause the delay. the fees are usually at or close to $100 a day.
Almost all REOs are sold "AS IS" Meaning no … (4 comments)

foreclosures: A New Tactic for Home Owners to Use in Foreclosure - 02/24/09 12:18 PM
This was on "Good Morning America" this morning. It is a tactic for home owners to use to slow down the foreclosure. California is what we call "nonjudicial state", so here a homeowner would have to file a lawsuit against whomever is foreclosing on them.
This site is where you can read the report http://www.wjla.com/news/stories/0209/595758.html
This is the video from the show  http://cosmos.bcst.yahoo.com/up/player/popup/?rn=3906861&cl=12191382&ch=4226720&src=news 
(2 comments)