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Bank of America Successfully Completes 1,873 HAFA Short Sales Since April 5, 2010
This government program Home Affordable Foreclosure Alternative initiated in April 2010 was set in motion and expectations were high. Every Real Estate Agent and Broker experienced in the Short Sale Process or lack there of, had a "spring in their step"...
New California Law Means "No Recourse" for Liens on Successful Short Sales
We've been writing about this...why? It's amazing! For many Californians, the fear of future recourse or bill collections after a short sale halted many prospective short sales from going through...well no more worries. Learn more about this new law here... CCP...
California Senate Bill 458 Passes…No More Collections on Mortgages after Successful Short Sales
Yes...it's true...Governor Brown signed into law SB 458 amending CCP 580E . That means if you're a homeowner or investor of a Single Family Residence property or a 1 to 4 unit rental property and it's not held in a corporation, LLC or other Joint...
No Deficiency If You Short Sale In California! Don’t Just Walk Away…Second Lien Holders Can Collect When You Foreclose
July 15th, 2011 was a great day for homeowners in California. Senate Bill 458 was put into law and this bill stops second lien holders from future collections WHEN you complete a short sale. This is a huge win for homeowners and investors. This law covers...
Homeowner Short Sale Question And Answer Workshops Avoid Foreclosure
As a homeowner you have options. Bottom line, our Government and your mortgage company does not want another foreclosure to happen. There are Government programs in place that give homeowners that completes a successful short short sale cold hard cash. Your...
Short Sales and Foreclosures Expected To Push Home Prices Down Before Years End
Not surprising news...Home prices will most likely continue to decline before the end of this year due to the increased homes on the market, pending foreclosures and more Short Sales. If your looking to rent, be ready to join the masses that are looking with you to do...
FTC is Sending Checks to Over 450,000 Countrywide Clients…Are you Getting Yours?
The FTC is sending out 450.000+ checks for a whopping $240...yes...$240. The FTC is mailing out 450,177 checks worth nearly $108 million to homeowners who were allegedly overcharged by former mortgage giant Countrywide. Unfortunately, that means...
Did You Pay Too Much for Your Short Sale Purchase? Likely…Yes!
With prices projected to drop another 15%+ over the next year...the likely hood is that if you purchased a home in the last few years...you paid too much. This post by Zillow gives specifics as to the amounts over paid by today's home buyers. If your a...
Homeowners That Can Are Refinancing To Remodel…Those Who Can't Are Short Sales.
Law Protects CA Home owners Completing Short Sales from Judgements from 2nd lien Holders
If you were hesitant to start a short sale...as of Friday, July 15, 2011... Governor Jerry Brown has all but removed every road block for the average homeowner in Los Angeles, California to proceed in full protection from any bank recourse. In an effort to protect all...
Big Banks Pay Incentives To Homeowners That Make Mortgage Payments On Time…Short Sales ?
Last week confirmed home ownership is declining. Several factors are causing many Americans to take a look at renting. I can now understand, but do not agree with banks PAYING their customers incentives to make their mortgage payments! Check this out.......
Senate Bill 458 Passes…No Deficiency Judgements for Home owners Completing Short Sales
This is HUGE! Effective today, 15 July 2011! Yes, Governor Jerry Brown signed into law SB 458 prohibiting banks, servicers and lenders from pursuing home owners of 1-4 units who choose to short sell their homes. A law was passed last year, 580E, that...
MARs No More! FTC Says Licensed Agents and Brokers Don't have to Abide by Confusing Regulations
This is surprising. 1 year after Dodd-Frank bill was passed...we're already seeing back lash. The confusing and tedious disclosure required by the Federal Trade Commission for any parties offering Real Estate Short Sale guidance is going away. It was confusing to say...
Rental Demands Grow, Consumer Price Index Proves Home Ownership Declining…Short Sales Up
Eric Audras | Photoalto | Getty Images Couple looking at properties in window of real estate agency. Take a look at this article just released from Diana Olick...it's pretty clear that if you have rental properties your doing alright in this down economy. Rents are...
Dr. Phil Sheds Beverly Hills Home; Asking $6.25Million
Source: TheHollywoodGossip.com Dr. Phil McGraw has been in and out of the celebrity real estatespotlight this year with several transactions. Last year, Dr. Phil and his wife, Robin, bought an enormous hillside place for a whopping $29.5 million. The couple...
Tighter Credit Limits…Home Ownership Could Continue To Drop
Short Sales, Foreclosures, Strategic Foreclosure…Home Ownership Dropping More Than Expected
This is a very interesting article written by Diana Olick, one of my favorites to follow from CNBC when it comes to finding out what's going on in the housing market. Diana is a straight shooter and pulls no punches when it comes to the real truth...good or bad. When...
Bonus For Paying House Payment On Time? Or Just Short Sale The Under Performing Asset!
This was just published by Diana Olick...I don't know about you but I question the irony of lenders giving incentives to homeowners that will promise to pay for their upside down mortgage instead of offering principal reductions to those homeowners? I don't see...