October 2010
Dear Kirkwood Neighbor,
We are almost through the year and what is going on in the real estate market is as much a challenge as ever. Our year so far is more short sales, more modifications (we hope and hear they are kicking in) as the Make Home Affordable Programs are implemented. As of 8-1-2010 any lender that signed up must follow the Home Affordable Foreclosure Alternatives Guidelines. Overall it is streamlining the process in a good way. The result will be fewer foreclosures as the program offers alternatives; loan modification, refinance, deed in lieu of foreclosure and shore sale, all of which minimize your credit risk and some of which have financial incentives to the banks and to you for being part of the program.
The most important thing to know is that if you know someone in this category that would be helped by one or more of the program, don't wait too long. There are time frames that make you eligible and you DO NOT have to be behind in your mortgage to qualify. In fact, it is better if you are not. (There are limited programs if you are behind as well).
See advice before the Notice of Default is filed. Terrylynn became a "Certified HAFA Specialist" proficient in these programs earlier this month for the purpose of counseling those who may be eligible for any/all of the programs. This is not necessarily just to sell your home, but to help you with the steps to modification and refinance as well. We are here to help... no matter what the market, and we mean it. We are offering FREE counseling sessions if you have questions about refinance, loan modification, short sale, and/or foreclosure options.
As we walk around the neighborhood on our morning walks, we feel lucky to be here, to have our work and health, to have our kids and grandkids nearby. Just like for most everyone, there have been fewer luxuries, less dining out, but what really matters is all the rest. We have a home in a great neighborhood where we have been for over 30 years. We are blessed, and we know it.
For those Real Estate questions about anything, Make Home Affordable Programs and assistance, tax re-assessments, property values, buying, selling property management, and whatever tickles your Real Estate fancy, please remember us. We have been working and living in your neighborhood for over 30 years. As always, we are here, and we'll be here tomorrow. Say hi when you see us walking, we'd love to chat. Good thoughts for our property values, may they rise.
- Terrylynn and Bob Fisher
www.KirkwoodNeighbors.com
Terrylynn@BuyStageSell.com
925.876.0966
Empire Realty Associates
DRE#00615420
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