More $$$ for Underwater Borrowers in CA

By
Real Estate Agent with Referral Network Inc.

California is working on a new program to help "underwater" borrowers.  Using federal funds, CalHFA is looking to spend $420M to help trim mortgages by up to $50,000.  The program is scheduled to start November 1.  This will be help for purchase loans, so those who did cash-out re-fi's won't qualify.  This plan has a number of other benefits, for more details CalHFA program.

 For more information on real estate in the Lake Tahoe/Truckee markets, please contact me:  Tamara Perlman, Coldwell Banker Donner Pass, 12068 Donner Pass Road, Truckee, CA 96161.  530-550-1299 or tperlman@coldwellbanker.com  www.TamaraPerlman.com  I look forward to discussing your real estate needs.

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Comments (18)

Edward & Celia Maddox
The Celtic Connection Realty - Queen Creek, AZ
EXPERIENCE & INTEGRITY - WE TAKE THE HIGH ROAD

I personally hate to see the goverment pouring more money into a black hole.  Why should my taxes go to someone that cann't afford their house payment?  No one is helping us.

Jul 02, 2010 03:47 AM
Tamara Perlman
Referral Network Inc. - Truckee, CA

The programs are definitely a double-edged sword!  Hate to see people losing homes, but also hate to see taxes going up!

Jul 02, 2010 03:50 AM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Tamara, I hope you and your family and friends have a fun, safe and happy 4th of July I CAN'T believe a year "ran by sooooo quickly"... enjoy the fireworks !

Jul 03, 2010 12:54 PM
Tamara Perlman
Referral Network Inc. - Truckee, CA

Hi Lynn--Same to you and yours for a fun and safe 4th.  The last 5 years have "ran by soooooo quickly".  Daughter off to college next month!

Jul 04, 2010 05:00 AM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Tamara... DO WHAT baby off to college ... no way... OH my you will be by yourself... NOW WHAT ? ... Meet you in Vegas ! .... LOL... have a good week I am extremely busy on a project !

Jul 11, 2010 02:46 PM
Tamara Perlman
Referral Network Inc. - Truckee, CA

Lynn--Just found the girls a flat this weekend.  Hopefully all will go well... lease supposed to be signed tomorrow....   Vegas--sounds like we could do some damage!!!  Good luck with your project!

Jul 11, 2010 03:36 PM
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Tamra, I'm glad to hear that cash out re-fi's won't qualify.  I hope it works out.

Jul 17, 2010 04:49 PM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Tamara girls ready for school, ?  HE HE... is it more worries OR less worries ? YIKES.... anything to assist home owners is a benefit have a fun weekend. Dallas Apartment Locator, Lynn911.com, Dallas Aparment Finder, Dallas Apartments for Rent, Dallas Apartment Rentals

Aug 12, 2010 07:09 AM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Tamara where are you ?  Busy with your daughter.  Stop over on my latest blog I about property owner request for listing agent servies GEEISH.. you will enjoy the humor !

I hope you have a fab...u...lous and fun weekend. Dallas Apartment Locator, Lynn911.com, Dallas Aparment Finder, Dallas Apartments for Rent, Dallas Apartment Rentals

Aug 21, 2010 05:25 PM
Tamara Perlman
Referral Network Inc. - Truckee, CA

Hi Lynn--Been a busy summer with buyers looking for affordable mountain cabins!  Daughter is off to college, classes started last week.  Guess I'm an empty-nester now!!!  I'll stop by your post, you've always got some interesting stories....

Aug 22, 2010 03:00 AM
Connie Harvey
Pilkerton Realtors - Brentwood, TN
Realtor - Nashville TN Real Estate

Tamara, I hope this program works. There are so many underwater sellers these days.

Aug 26, 2010 07:32 AM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Hi Tam! 

Just stopping by to wish you a Happy Labor Day weekend!

Sep 02, 2010 11:01 AM
Tamara Perlman
Referral Network Inc. - Truckee, CA

Thanks Rob--Hope you are having a great weekend too!  I'm in the office all weekend.  Busy time for the second home market.... buyers want to get in before ski season!

Sep 05, 2010 12:02 PM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Who Woulda Thunk that LD on the left coast would be good for business??? NOT here!  it is the last Hurah of summer

Sep 07, 2010 09:30 AM
Tamara Perlman
Referral Network Inc. - Truckee, CA

It's not endless summer in the mountains, so buyers need to make their decisions soon!

Sep 07, 2010 01:00 PM
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

Not endless summer here either, remember we had MULTIPLE 2+ foot snow storms last winter!

Sep 08, 2010 05:35 AM
Tamara Perlman
Referral Network Inc. - Truckee, CA

;-)

Sep 08, 2010 07:15 AM
Lynn911.com ~ Dallas Real Estate Agent Top Team
Dallas Houses for Rent Dallas Apartment Rentals Lynn911.com - Dallas, TX

Happy 10.10.10 to you have an amazing day.  I just blogged about worldwide video for 10.10.10 you might want to participate in click here for the link Dallas Houses for rent, Dallas Apartment finder, Lynn911, Dallas Luxury Apartments For Rent Dallas Homes for Rent

Oct 10, 2010 06:02 AM