SB 931 in downey

http://TheMortgageSpin.com

HAMP Scorecard
The Making Home Affordable (MHA) and Home Affordable Foreclosure Alternatives (HAFA) Programs provide borrowers an alternative to foreclosure through a short sale or a Deed-in-Lieu. According to the scorecard (CLICK LINK BELOW) a loan modification was NEVER a GUARANTEE. To stop a foreclosure a short sale is the only and Best Guarantee that the banks have offered till now to you the homeowner.

Bankruptcy will only stop a foreclosure (A temporary stall. Your home will be placed on foreclosure sale again) and will not help in modifying your loan. It will also affect your credit more than a clean short sale.

Do not listen to what the news say or what organizations like NACA promise you. It is only to get you to continue making some kind of payment on your home. The banks are only trying to protect their own interest. According to the numbers in the scorecard (SEE BELOW) modifications do not work. The most important thing to remember is that if your loan modification has been declined it is simply due to the fact that your property has declined in value more than what an investor is willing to lose.

California is the number 1 affected state in the country. Stay ahead of the tidal wave of foreclosures that are about to hit the California shore. You deserve a 2nd chance. Do not let this opportunity to start over pass you by. This program expires 12/31/2012.

As of February 1st 2011 the HAFA short sales
1. no longer require full income or asset verification.
2. the property no longer must be owner occupied at the time of sale, but must have been owner occupied in the previous 12 months.
HAMP Scorecard

http://TheMortgageSpin.com – In this video Patty tells us about the realities of living with a overvalued home. Take action and don’t let the banks take advantage of you.

http://TheMortgageSpin.com – In this video Patty Kelly tells us of a Downey Homeowner who had his HAMP loan Modification denied. What are his Options?

1. Resubmit for Traditional Modification

2. File for Chapter 13 bankruptcy

3. Short Sale

For more information, please see the video.

Help for denials on downey loan modifications

Patty Kelly tells us about the dangers of ignoring the credit card companies, especially if you are a homeowner (wage garnishments) – Downey Real Estate

80% of all Bankruptcies are dismissed within 10 business days. Patty tells us about why this is happening and what to do about it – Downey Real Estate.

Read on anti-deficiency reform.

First Time Home Buyer Special in Compton, CA – Single Family Residence

This is a first time home buyer special. It is listed at $120,000. You can purchase this home in Compton with 3.5% down payment, or $4,200. Your approximate payments (including taxes and insurance) are between $800 and $900 a month. If your family earns between $20,000 to $25,000 you should have enough income to qualify. (All terms, programs, rates and payments are subject to change).

The home is a 2 bedroom, 1 bath started home. For more information check MLS # 10-467503. Taken from ComptonCity.org

‘ Compton is a great place to live, work, and raise a family. It is home to almost 100,000 citizens. Known as the “Hub City” because of its unique position in almost the exact geographical center of Los Angeles County, Compton is strategically located along the Alameda Corridor, a passageway of 25 percent of all U.S. waterborne international trade. Compton is rapidly emerging as a large industrial center in Los Angeles County for transit and distribution, business services, high technology, home and lifestyle products, metals, financial services, and textile manufacturing.’

Downey and surrounding communites real estate trends.

Buying a SFR in Compton?

Buying a home in Compton?

Can you short sell and not have the bank sue you for amounts owed?

SB 1178 to extend Anti-Deficiency Protection for Homeowners – Downey Real Estate

Banks can pursue borrowers for deficiencies in non-purchase money loans. Lets find out what SB 1178 can do to protect the consumer.

For other posts on Deficiency Protection for Homeowners please read this post.

Another post on Banks pursuinf Deficiency Judgements on unsuspecting Homeowners.

See the video below.

Beautiful Condo in Covina

Someone’s pain is your gain. The condo has to be sold and you could make out with a great home.

Gorgeous and spacious 3 bedroom and 3 bath condo available in Covina. It’s a corner condo, most desirable location. Community pool, club house for private parties. It has a breakfast bar, open patio, pantry. MLS # 10-465585.

Inquire about the open house!

Condo Living Room

Beautiful kitchen for a condo

Corner Condo in Covina