This Video (below) is proof many homeowners in all areas are at risk of scammers, including San Jose homeowners. When you ask for help selling your San Jose House, remember, if it sounds too good to be true..Then it probably is!
There are no ‘Magic Wand’ solutions if you find yourself against the wall with your mortgage. Using common sense and a applying pragmatic approach is still the best and most effective way to determine whether you should sell your Los Gatos home or buy a smaller more affordable house in San Jose.
A good rule of thumb is to obtain 3 professional opinions and weigh them one against the other. The first solution may not be the only solution and… Watch This Video!
Wow! These are my 3 picks of the weekend for Los Gatos Homes for sale. New Home Buyers will find they have all the best things to offer.
Some lucky folks are going to be new homeowners in Los Gatos!
Great prices and locations are just the beginning. 17250 Pine St.Los Gatos is a short sale, I know, Yuk. Not really! Look what the fundamentals look like…
Schools: Great! Location: Great! Price: Amazing!
Use ‘the proper strategy and be prepared for a few bumps’ is the bargain hunters code. One may be a foreclosure one a short sale, however what would expect a bargain to look like?
Los Gatos is a tough area to find affordable homes and these 3 are a step in the right direction. Preparing for an opportunity equates to good luck, right?
The 2nd homes for sale in Los Gatos is 15175 El Gato and the 3rd house for sale in Los Gatos that I see as a great first time buyer pick is 
228 Calle Marquerita.
The Obama administration’s $75 billion program to protect homeowners from foreclosure has been widely pronounced a disappointment, and some economists and real estate experts, myself included, now contend it has done more harm than good.
If you have been reading my Los Gatos Real Estate musings you already know that since the program was announced in February, it has lowered mortgage payments on a trial basis for hundreds of thousands of people, but has largely failed to provide lasting relief. Critics increasingly argue that the program, Making Home Affordable, has raised false hopes among people who simply cannot afford their homes.
As a result, desperate homeowners have sent payments to banks in often-futile efforts to keep their homes, which some see as wasting dollars they could have saved in preparation for moving to cheaper rental residences. Some borrowers have seen their credit tarnished while falsely assuming that loan modifications involved no negative reports to credit agencies.
This fact that credit scores are affected by modifications boils my brain! The program was meant to help! In fact, it is hurting too many people. How are you going Read the rest of this entry »
Buying a home means you need to understand your credit score better and how it weighs in and out of your favor. This is true In Los Gatos and the Bay Area, more than most, due to the high priced Real Estate here. Investors know this and so should you. What will a finance company consider when you make an offer on that Los Gatos foreclosure you want to buy?
With all the misguided information flying around about loan modifications understanding these myths will prevent some misteps.
“Many Americans hold mistaken beliefs about credit scores,” cautioned Ethan Ewing, who heads the free online consumer portal at Bills.com. “Misinformation on television and in hearsay from friends and neighbors only compounds the problem.”
Here are the top 10 commonly held myths surrounding credit scores:
Myth #1: A credit score is a credit report. The credit report is a detailed listing of all debts and payments, going back throughout an individual’s entire payment history, Ewing explained. For each entry, it shows the creditor’s name, amount owed, the highest balance owed, the available credit, whether the account is open or closed (and who closed it), the number of late payments and whether the account is in default. A credit score is a number between 300 and 850 that is based on complex formulas incorporating all the data in the credit report. Most homes for sale in Los Gatos yield many offers so, you need to have the best credit score. Read the rest of this entry »
Short Sales are proving to become the market leader. Many homeowners are confronted with the fact their home is worth less than their mortgage. Most investors who are confronted with non-performing assets…cut their losses and sell them.
In Real Estate we call it a Short Sale. Alternatives are bankruptcy, foreclosure or granting a deed in lieu of foreclosure. I prefer a mortgage short sale.
Does your home resemble a non-performing asset?
The Basic steps you will need to accomplish The Short Sale process Start here. Execute these simple steps and successful negotiations will follow.
First what is a short sale? Here is the short sale definition:
In ”short”, a shortsale is when the lender agrees to settle the debt owed on the property for less than the full amount of the debt. In most cases “Settled” means the lender writes off the debt. You usually will receive a 1099 after a short sale for the amount of debt forgiven. The bank is agreeing not to go after you for the money they lost by filing a deficiency judgment in the future. The exception is the HELOC loan where they reserve the right to file a default judgment.
Step 1
Contact your mortgage lender. Don’t just call or email customer service or the “loan work out” department. You need to speak with the manager of the problem loan department or another individual who has the authority to approve a short sale request.
While mortgage lenders can be sympathetic to these problems, they are never Read the rest of this entry »
Yes he did. Speaking to associates at a Home Depot, last Friday, President Obama was touting his new ‘Energy Initiative’ and used the word. The worst part he was talking about insulation.
I don’t know how sexy insulation is, but with tax season coming it is a very good time to plan ahead for spring. If you do it right you could get a few ‘sexy’ bucks from Uncle Sam.
If you are planning to do a remodel project take time to plan. I know, how else would you do it? I am talking about planning what materials and products you and your contractor are going to use. Don’t forget to get a permit if the cost of improvement exceeds $1000.
The San Jose Planning Dept. has reduced staff, so start the process early.
Read the rest of this entry »
The spanking Fannie Mae is suffering has become intolerable.
The rumor several banks have agreed to streamline short sales is true and will certainly make the spanking a light one. How do I know? When I inquired why my calls were not being returned, for a few days in October, contacts at BofA told me they were being trained for a new program to expedite… Read the rest of this entry »
Nearly everyone wants to do this so, Why don’t you?
The purchase of a fixer-upper house is often a catch-22 situation, because the bank won’t lend the money to buy the house until the repairs are complete, and the repairs can’t be done until the house has been purchased. Fixing up your new house is a costly idea in Los Gatos, San Jose and the whole Bay Area, really.
HUD’s 203(k) program can help you overcome this cost obstacle by enabling you to purchase or refinance a property plus the cost of making the repairs and improvements in one mortgage.
Dian Hymer of Inman News suggests “design your offer with a 60 day close and a 45 day finance contingency.”
Read the rest of this entry »
Image by Getty Images via Daylife
Last month BofA chose to work with REOtrans, a leading transaction vendor to the mortgage industry, to advance and streamline foreclosure solutions by reducing them all together.
They are working to move the short sale idea into the mainstream RE sale arena. This is great news no matter what side of the Real Estate market you find yourself standing in.
The traditional Short Sale process has led to immense frustration and outright anger, not only here in California, but throughout the nation for all parties involved. As a Real Estate professional, having to negotiate short sales on behalf of distressed homeowners, I have learned that many people charged with Short Sale approvals agree…the short sale process, as it is implemented now, is ridiculous even archaic.
B of A has been the penultimate banking institution in the United States for decades and it goes without saying their agreement to work with REOtrans is a window into Real Estate sales for the near term. Read the rest of this entry »
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