Beginning June 15, real estate agents working with distressed homeowners whose loans are backed by Fannie Mae and Freddie Mac should expect to receive a decision on a short sale offer within 30-60 days. The GSEs issued new guidelines Tuesday … Continue reading →

  Past foreclosure means waiting years for new loan Next to filing for bankruptcy protection, nothing wrecks a borrower’s chances of qualifying for a home loan like a foreclosure.  And, some lenders may not look favorably upon borrowers who were … Continue reading →

So far we have talked about short sales in Santee and how they are here to stay. We have discussed managing buyers expectations in a short sale as well as gaining some insight as to how agents price short sales. Now lets talk … Continue reading →

In Santee as well as other areas in San Diego County, short sales seem like they are here to stay at least for a while. As a REALTOR® I have clients who constantly want to write offers on these deals … Continue reading →

 Interesting to think that a while back very few knew what a short sale was or even what the tax consequences, if any, of a short sale would be. This is no longer the case. Short sales are the “new … Continue reading →

This article examines the credit score impact of a short sale versus a foreclosure, and advises a strategic default as financially advantageous for California’s negative equity homeowners. Credit scores: Not the decisive factor   Underwater homeowners may now look for … Continue reading →

Despite home prices in major urban centers decreasing 31 percent between 2005 and 2009, property taxes across the U.S. increased by nearly 20 percent.  There is good news, however; homeowners can fight back. Making sense of the story Homeowners should … Continue reading →

Short sales – a real estate transaction in which the homeowner needs to sell the property, but owes more on the mortgage than the home currently is worth – continue to dominate the housing market, but these real estate transactions … Continue reading →

Distressed BofA homeowners in Calif. now have chance of principal reduction Bank of America has joined the Keep Your Home California principal-reduction program, making it the largest loan servicer involved in lowering loan balances for those with economic hardships. Making … Continue reading →

New law gives added protection to short-sale hopefuls On Friday, Gov. Jerry Brown signed Senate Bill 458 (Corbett) into law.  The new law, which contained an urgency clause and became effective upon signing, protects homeowners pursuing short sales by barring … Continue reading →