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

If your loan is being serviced by one of the above mentioned banks there is an event ending on tuesday 7/20 aimed to help struggling homeowners.

Loan advisors will offer counseling for owners who are applying for loan modifications and for people who can’t afford their homes and need to apply for a short sale.

The event is being held at the Hilton Orange County at 3050 Bristol St., begins Friday and runs through Tuesday, July 20. The hours are 8 a.m. to 8 p.m.

Downey EMC, WAMU and CHASE loan customers can walk in their loan modification or short sale request.

If your Downey home loan needs a modification, or if you need to apply for a short sale LA County has 5 homeownership centers that can assist you in your requests.

Should you attempt a Loan Modification for your Downey Home?

In a previous post we discussed the HAFA program and how it can help you with your Downey distressed home.

Now let’s discuss the realities of attempting a loan modification. The Obama Program, or HAMP, was supposed to help millions of homeowners keep their home. Sadly this has not been the case.

Just a few notes before you see the video:

Did you know that if your Downey Home has already received a Notice of Trustee Sale, and it was postponed because you applied for a loan modification for example – the bank can simply sell the home without sending another notice? That’s why you must keep in contact with your bank.

Banks perform a financial analysis to see what makes more financial sense: Loan modification, approve a short sale, or foreclose on the home.  Should you perform a similar analysis for yourself and your Downey Loan?

Let’s see Patty Kelly and what she has to say:

When short selling your Downey home you must be aware that banks are starting to sue over owed balances on HELOCs. Here we discuss what can be done to prevent this from happening when short selling your Alhambra Home. http://Themortgagespin.com

This has been the common feeling among most of us when buying our home right? School is out for the kids, the weather is great, nighttime is not until later. Guess what: You’re right.

You are right that if you feel it’s the right time it will be. It could be November or June. The point is if you are ready, then it IS the right time to buy your Downey home.

So let’s back up your emotional certainty with cold hard logic:

1. The interest rates are STILL at historic lows.
2. Home prices are STILL low.

However at the end you know it’s not about that. It’s about you wanting to buy your Downey home.

Downey Real Estate: Banks have quietly been selling off 2nd mortgages to collection companies. If you short sold your home or had a foreclosure be prepared. Read the article here.

When you are going to purchase a Home in Downey do your due diligence and make sure you have the right mortgage before you buy your Downey Home. Read the Article here.