Wednesday, February 08, 2012
First Time Home Buyers Down Payment Assistant Available
If you are a fist time home buyers ( have not own a house in three years, and are not on any loans loan) you may be elegible to receive up to $ 60,000 for Down payment or closing cost, there is money available right now.
You can buy: a house, condominium or townhome that are not tenant occupied. To qualify for it need to make an appointment with me to go over you income, number of family members and more.
You can reach me by email: albertopacheco5195@hotmail.com or by phone at 818 481 9211.
Alberto Pacheco
818 481 9211
Keller Williams Granada Hills
16842 Devonshire St
Granada Hills CA 91344
Lic 01200694
www.stoppayingrentinla.com Foreclosures, Probate Homes and Short Sale Homes Available.
www.facebook.com/albertopachecorealtor www.twitter.com/albertopacheco
You can buy: a house, condominium or townhome that are not tenant occupied. To qualify for it need to make an appointment with me to go over you income, number of family members and more.
You can reach me by email: albertopacheco5195@hotmail.com or by phone at 818 481 9211.
Alberto Pacheco
818 481 9211
Keller Williams Granada Hills
16842 Devonshire St
Granada Hills CA 91344
Lic 01200694
www.stoppayingrentinla.com Foreclosures, Probate Homes and Short Sale Homes Available.
www.facebook.com/albertopachecorealtor www.twitter.com/albertopacheco
Foreclosure Market Update
Slowly, but surely, the foreclosure crisis seems to be abating.The
number of homes in foreclosure shrunk by 130,000, or 8.4%, in 2011,
according to a report from CoreLogic, an economic research firm.
These are homes owned by borrowers who had slipped far behind on payments, forcing lenders to put them into the foreclosure process. The homes remain foreclosure inventory until they're sold -- either at auction or in a short sale, which is when a home is sold for less than the mortgage value -- or until homeowners are current again on payments.
There are dual reasons for the inventory drop, according to Mark Fleming, chief economist with CoreLogic.
In recent years, homes have entered foreclosure more slowly because lenders are carefully scrutinizing applicants; only very low-risk borrowers get loans. That, plus a gradual improvement in the economy, means fewer borrowers are getting into trouble.
Even borrowers in default are not going into the foreclosure process as quickly as they used to. They're being held up by a variety of judicial and regulatory constraints, according to Fleming.
For one thing, the robo-signing issue, in which banks filed sloppy and sometimes improper paperwork, made lenders more cautious about getting their paperwork in order before beginning to process foreclosures.
Once the banks do put homes into foreclosure, they're trying to speed them through it faster. One way they've done that is by encouraging short sales.Another is that they've stepped up their foreclosure prevention efforts -- often with the aid of numerous government programs such as Home Affordable Modification Program, which the government claims has helped a million Americans keep their homes.
After foreclosures are completed and the homes are back in the hands of their lenders, the homes are being sold very quickly. "This
is the first time in a year that REO sales [those of bank-owned
properties] have outpaced completed foreclosures," said Fleming.
In December 2011, there were 103 sales of bank-owned homes for every 100 homes in foreclosure inventory. That was up considerably from November 2010, when there were only 94 REO sales for every 100 in the foreclosure process.
Florida has the dubious distinction of recording the highest foreclosure inventory in the nation in December, with more than 17% of homeowners seriously delinquent and nearly 12% of homes with mortgages in foreclosure inventory The inventory in Florida is bloated because, as in more than half of all the states, most foreclosures have to go through the courts.
These are homes owned by borrowers who had slipped far behind on payments, forcing lenders to put them into the foreclosure process. The homes remain foreclosure inventory until they're sold -- either at auction or in a short sale, which is when a home is sold for less than the mortgage value -- or until homeowners are current again on payments.
There are dual reasons for the inventory drop, according to Mark Fleming, chief economist with CoreLogic.
Foreclosure deal has 40 states but others balk
"The pace at which properties are entering foreclosure is slowing," he said. "And servicers nationwide stepped up the rate at which they were able to process distressed assets."In recent years, homes have entered foreclosure more slowly because lenders are carefully scrutinizing applicants; only very low-risk borrowers get loans. That, plus a gradual improvement in the economy, means fewer borrowers are getting into trouble.
Even borrowers in default are not going into the foreclosure process as quickly as they used to. They're being held up by a variety of judicial and regulatory constraints, according to Fleming.
For one thing, the robo-signing issue, in which banks filed sloppy and sometimes improper paperwork, made lenders more cautious about getting their paperwork in order before beginning to process foreclosures.
Once the banks do put homes into foreclosure, they're trying to speed them through it faster. One way they've done that is by encouraging short sales.Another is that they've stepped up their foreclosure prevention efforts -- often with the aid of numerous government programs such as Home Affordable Modification Program, which the government claims has helped a million Americans keep their homes.
Post-foreclosure
In December 2011, there were 103 sales of bank-owned homes for every 100 homes in foreclosure inventory. That was up considerably from November 2010, when there were only 94 REO sales for every 100 in the foreclosure process.
Florida has the dubious distinction of recording the highest foreclosure inventory in the nation in December, with more than 17% of homeowners seriously delinquent and nearly 12% of homes with mortgages in foreclosure inventory The inventory in Florida is bloated because, as in more than half of all the states, most foreclosures have to go through the courts.
Foreclosure free ride: Three years and no payments
Courts have taken a much closer look at the cases coming before them, no longer taking the bank's word for everything.. Consequently, it takes a longer time to schedule an auction, which keeps many homes trapped in the foreclosure pipeline.A hard-hit state such as Nevada, which has had the highest incidence of delinquency in the nation but where most foreclosures do not go through he courts, posted a foreclosure inventory rate of less than half that of Florida.Friday, November 18, 2011
Como Afecta El Valor De La Casa De Su Vecino A La Suya
Sus vecinos están afectando el valor de su casa. El análisis comparativo de mercado (CMA), método que los profesionales de bienes raíces utilizan para evaluar el valor de la vivienda se basa en la reciente venta de las propiedades cercanas. El CMA ayudará a establecer un precio de venta exacto y justo y que coincida con la técnica de que los evaluadores locales propiedad de uso en la elaboración de los valores de liquidación.
Precio comparable por pie cuadrado
1. Obtener a disposición del público la información más reciente venta de la casa de su asesor local propiedad del condado, incluyendo el precio de venta, metros cuadrados, el tamaño del lote, edad y dirección. Evaluación de datos de propiedades se pueden encontrar buscando en Internet por el nombre de su condado, estatales y palabras clave como "evaluación de la propiedad o la liquidación del impuesto." Como alternativa, la solicitud de esta información directamente de su condado. Localizar las casas que recientemente vendió cerca de la ubicación que desee valor.
2. Divida el precio de venta de cada hogar por el total de pies cuadrados de la casa. Precio por metro cuadrado es una de las técnicas más comunes de bienes raíces análisis del valor.
3. Acomodando los resultados de forma ascendente o el precio por pie cuadrado.
4. Elija por lo menos tres lugares cerca de su casa o propiedad que son más similares a su propiedad en el lote de tamaño, edad y cama / bañera combinación, es decir, tres dormitorios y dos baños.
5. Calcular un precio medio por metro cuadrado de los lugares elegidos en el paso 4. Por ejemplo, si las tres casas más cercano tuyo es de $ 100, $ 120 y $ 140 por pie cuadrado, el precio promedio por pie cuadrado serían los precios dividido por tres, o $ 120 por pie cuadrado.
6. Multiplique el precio comparable por pie cuadrado a partir del paso 5 veces el total de pies cuadrados de su propiedad. Por ejemplo, si el total de pies cuadrados de su casa es de 2.000, entonces el valor de tasación de su casa sería 2.000 veces $ 120 o $ 240.000.
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Precio comparable por pie cuadrado
1. Obtener a disposición del público la información más reciente venta de la casa de su asesor local propiedad del condado, incluyendo el precio de venta, metros cuadrados, el tamaño del lote, edad y dirección. Evaluación de datos de propiedades se pueden encontrar buscando en Internet por el nombre de su condado, estatales y palabras clave como "evaluación de la propiedad o la liquidación del impuesto." Como alternativa, la solicitud de esta información directamente de su condado. Localizar las casas que recientemente vendió cerca de la ubicación que desee valor.
2. Divida el precio de venta de cada hogar por el total de pies cuadrados de la casa. Precio por metro cuadrado es una de las técnicas más comunes de bienes raíces análisis del valor.
3. Acomodando los resultados de forma ascendente o el precio por pie cuadrado.
4. Elija por lo menos tres lugares cerca de su casa o propiedad que son más similares a su propiedad en el lote de tamaño, edad y cama / bañera combinación, es decir, tres dormitorios y dos baños.
5. Calcular un precio medio por metro cuadrado de los lugares elegidos en el paso 4. Por ejemplo, si las tres casas más cercano tuyo es de $ 100, $ 120 y $ 140 por pie cuadrado, el precio promedio por pie cuadrado serían los precios dividido por tres, o $ 120 por pie cuadrado.
6. Multiplique el precio comparable por pie cuadrado a partir del paso 5 veces el total de pies cuadrados de su propiedad. Por ejemplo, si el total de pies cuadrados de su casa es de 2.000, entonces el valor de tasación de su casa sería 2.000 veces $ 120 o $ 240.000.
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Wednesday, November 09, 2011
Condo and Home Sales Statistics Up to Nov 05 2011
| Single Family Residence | ||
| Time Period | Number of Sales | Median Sale Price |
| Sep 2011 | 4,415 | $321,000 |
| Sep 2010 | 4,248 | $350,000 |
| Aug 2011 | 4,610 | $321,000 |
| Aug 2010 | 4,360 | $345,000 |
| 2011 YTD | 39,976 | $325,000 |
| 2010 | 52,183 | $340,000 |
| Condominium | ||
| Time Period | Number of Sales | Median Sale Price |
| Sep 2011 | 1,282 | $275,000 |
| Sep 2010 | 1,410 | $325,000 |
| Aug 2011 | 1,442 | $285,000 |
| Aug 2010 | 1,435 | $317,500 |
| 2011 YTD | 12,699 | $290,000 |
| 2010 | 17,550 | $320,000 |
Monday, November 07, 2011
13145 Bromont Ave # 24 Sylmar CA 91342
Townhome For Sale located at 13145 Bromont Av # 24 Sylmar, CA 91342.. If you are home buyer looking for a very spacious place to live close to Schools and Comercial area, this is the one
.
On the 1st floor are the living room, Kitchen and a attached garage. On the 2nd story are 3 Bedrooms and 2 Bath, The Master Bedroom has it's own Bath and Spacious Closet. It also has an extra room that can be used as Den, Office or Small Child Room.
It has central air and heat,has been remodeled, it has harwood flooring on the living room and kitchen, new granite counters, and the 2nd floor is carpeted.
Located in the heart of Sylmar, close to the comercila area and freeway but far enough to avoid the noise. It is a private complex with Pool and Jacuzzi, it is clean and safe since only the owners can get in using their fence door keys or remote controls to get in with their car.
If you are a interested buyer, get in touch with me. It is two blocks away from the comercial area, three from the 210 Freeway, and 5 minutes from the Mission Hills College, close to elementary schools and High school.
Sylmar Population 2010: 99125 210 FREEWAY
SYLMAR MISSION COLLEGE SYLMAR PUBLIC LIBRARY SYLMAR METRO LINK
Alberto Pacheco
Real Estate Consultant
http://www.stoppayingrentinla.com Granada Hills Real Estate
Blog: www.losangelescountyrealestate.blogspot.com
Condo and Home Sales Statistics For Los Angeles County
| Single Family Residence | ||
| Time Period | Number of Sales | Median Sale Price |
| Sep 2011 | 4,415 | $321,000 |
| Sep 2010 | 4,248 | $350,000 |
| Aug 2011 | 4,610 | $321,000 |
| Aug 2010 | 4,360 | $345,000 |
| 2011 YTD | 39,976 | $325,000 |
| 2010 | 52,183 | $340,000 |
| Condominium | ||
| Time Period | Number of Sales | Median Sale Price |
| Sep 2011 | 1,282 | $275,000 |
| Sep 2010 | 1,410 | $325,000 |
| Aug 2011 | 1,442 | $285,000 |
| Aug 2010 | 1,435 | $317,500 |
| 2011 YTD | 12,699 | $290,000 |
| 2010 | 17,550 | $320,000 |
www.stoppayingrentinla.com Probates, Short Sales and Foreclosed Homes Available To Preview
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Saturday, October 29, 2011
Keeping Your Home Yard Through The Winter
This is the time when people start to want to stay indoors a bit more, especially when the temperatures significantly drop. But you can't neglect your outdoor patios and decks, especially if
you plan to sell soon. Buyers won't want to see broken-wood decks or
corroded wrought iron patio sets in your backyard.
The good news is that if you prepare ahead, you can save yourself time and money. Taking some good housekeeping steps now will allow you to step outside into the fresh spring air next year to a well-preserved outdoor space.
Where to begin? First, if your deck is looking a little worn and tired, make the necessary repairs now. Don't wait until you can stick your foot through a board (like I did). That's not only dangerous but it also mandates a quick fix.
Give your deck a good cleaning and sealing or staining before the weather gets too cold and wet to do this. Make sure you check for loose nails and get rid of any splintery edges by sanding them down. Seal with waterproofing sealants. For these, generally the weather has to be above 32 degrees F and 50 degrees F for sealing and stains, respectively, to work properly.
Put the clippers to work. Take a good look around your yard and decide which plants need to go. Many annuals may have been killed by frost and it's time to clear them away. Keep your flowers looking good by trimming away dead leaves. If you cut your plants back now it will cause them to grow and flower more effectively later on.
Add seasonal plants. You can still have some nice color in your yard if you get the right plants for your yard's climate. Kale and ornamental cabbage are attractive. In warmer climates try primroses for winter color.
Use creative containers with your seasonal plants. Putting a perennial plant in a beautifully painted container can add style and allure to your patio all winter long.
Plant potted vegetables. Nothing's better than fresh food especially when it comes from your own yard. There are some cool-weather vegetables that work well in pretty pots. Things like lettuce: kale, leaf, mustard, and Chinese cabbage are good for this. Also, don't forget herbs; they'll come in handy for the holiday dinners.
Get artsy. Making your yard look good in winter is also about what you leave outside. Those brightly colored throw pillows and rugs that worked great in summer, of course, should be brought inside. Instead get creative with lights that give a sparkle on a cold winter night. Hang plants with ornaments on them. Also, hang bird feeders to attract birds.
Taking a few simple steps to keep your deck, yard, and outdoor furniture in good condition will give you an easy progression into spring. And, if you're listing your home for sale in the winter, these steps are sure to please buyers.
The good news is that if you prepare ahead, you can save yourself time and money. Taking some good housekeeping steps now will allow you to step outside into the fresh spring air next year to a well-preserved outdoor space.
Where to begin? First, if your deck is looking a little worn and tired, make the necessary repairs now. Don't wait until you can stick your foot through a board (like I did). That's not only dangerous but it also mandates a quick fix.
Give your deck a good cleaning and sealing or staining before the weather gets too cold and wet to do this. Make sure you check for loose nails and get rid of any splintery edges by sanding them down. Seal with waterproofing sealants. For these, generally the weather has to be above 32 degrees F and 50 degrees F for sealing and stains, respectively, to work properly.
Put the clippers to work. Take a good look around your yard and decide which plants need to go. Many annuals may have been killed by frost and it's time to clear them away. Keep your flowers looking good by trimming away dead leaves. If you cut your plants back now it will cause them to grow and flower more effectively later on.
Add seasonal plants. You can still have some nice color in your yard if you get the right plants for your yard's climate. Kale and ornamental cabbage are attractive. In warmer climates try primroses for winter color.
Use creative containers with your seasonal plants. Putting a perennial plant in a beautifully painted container can add style and allure to your patio all winter long.
Plant potted vegetables. Nothing's better than fresh food especially when it comes from your own yard. There are some cool-weather vegetables that work well in pretty pots. Things like lettuce: kale, leaf, mustard, and Chinese cabbage are good for this. Also, don't forget herbs; they'll come in handy for the holiday dinners.
Get artsy. Making your yard look good in winter is also about what you leave outside. Those brightly colored throw pillows and rugs that worked great in summer, of course, should be brought inside. Instead get creative with lights that give a sparkle on a cold winter night. Hang plants with ornaments on them. Also, hang bird feeders to attract birds.
Taking a few simple steps to keep your deck, yard, and outdoor furniture in good condition will give you an easy progression into spring. And, if you're listing your home for sale in the winter, these steps are sure to please buyers.
Saturday, October 15, 2011
Wednesday, October 12, 2011
Monday, October 10, 2011
City of Commerce Home Sales Statistics For February 2010
New Listings: 8
Average Listing Price: $ 238,333
Listings Under Contract: 6
Average Listing Price: $ 212,333
Sold Listigs: 1
Average Listing Price: $ 255,000
% Sales Price Versus Listing Price: 104.59 %
% Sales Price Versus Old Listing Price: 104.59 %
Average Days on The Market: 27
www.stoppayingrentinla.com City of Commerce Real Estate, Foreclosures, City of Commerce Probates, City of Commerce Homes For Sale, City of Commerce Short Sales, Maps, Calculators
Average Listing Price: $ 238,333
Listings Under Contract: 6
Average Listing Price: $ 212,333
Sold Listigs: 1
Average Listing Price: $ 255,000
% Sales Price Versus Listing Price: 104.59 %
% Sales Price Versus Old Listing Price: 104.59 %
Average Days on The Market: 27
www.stoppayingrentinla.com City of Commerce Real Estate, Foreclosures, City of Commerce Probates, City of Commerce Homes For Sale, City of Commerce Short Sales, Maps, Calculators
Rescate a Propietarios De Casa
Noticias de última hora: Nuevo Programa de Obama rescata a los propietarios bajo el agua
05 de junio 2011 · Deja tu comentario Su fácil de leer esta historia y ser escéptico ... después de todo, 2012 es un año electoral. Muchos verán este programa propone como nada más que una buena compra de edad votación de moda .... Sin embargo usted lo ve, principales deducciones saldo de la hipoteca están de vuelta en el juego. Eso es correcto, el programa de patrimonio neto negativo mítico sobre la mesa.
¿Hay alguna forma en que algo como esto va a suceder dado el republicano (y Tea Parties) intentó pasar a un enfoque más conservador para el gasto? Recuerde que la gente, este es SU dinero del pagador de impuestos el dinero ... ... que se va a reducir los saldos de capital de la hipoteca.
Comparte tus pensamientos .. es hora de rescatar a los propietarios de viviendas?
La administración Obama quiere ayudar a más estadounidenses que luchan permanecer en sus hogares mediante la reducción de la cantidad que debe en sus hipotecas en problemas, un alto funcionario del Tesoro dijo el sábado.
"Estamos definitivamente tratando de facilitar la reducción de más capital," dijo Timothy Massad, en calidad de secretario adjunto del Tesoro para la estabilidad financiera. "Es una pieza muy importante de la solución global", dijo.
El gobierno está intentando a través de programas financiados por los contribuyentes para evitar que los propietarios pierdan sus casas. Casi $ 50 mil millones han sido retiradas del rescate de los bancos 700 mil millones dólares conocido como Programa de Alivio de Activos en Problemas, o TARP, para ayudar a propietarios en dificultades.
La persistencia de alto desempleo y un débil mercado de la vivienda suponen una amenaza para las perspectivas del presidente Obama reelección el próximo año.
Hasta ahora, uno de los programas ha ayudado a unos 670.000 propietarios en dificultades ganar más bajos pagos de la hipoteca. Pero eso ha hecho muy poco para ayudar al mercado de la vivienda en general, que se mantiene deprimida como en otras partes de la economía han comenzado a recuperarse.
Un exceso de casas en venta, las ejecuciones hipotecarias, la escasez de crédito y la demanda poco han impedido la recuperación de la vivienda. Los datos recientes muestran que los precios cayeron por debajo de la casa baja visto en abril de 2009 durante la crisis financiera.
"Este ha sido un mercado de la vivienda muy, muy difícil como consecuencia del hecho de que pasamos por una crisis financiera terrible", dijo Massad periodistas en el marco de un evento de prevención de ejecuciones hipotecarias en Washington.
Uno de los programas de la administración ayuda a propietarios en dificultades evitar la ejecución hipotecaria, proporcionando modificaciones permanentes préstamo.
Otro programa, el aumento gradual de ahora, da a los estados que han sido los más afectados por la caída de precios de las casas de financiación para ayudar a reducir el principal del préstamo de un prestatario, entre otras cosas.
"Creo que los va a hacer una gran diferencia en cuanto a los problemas de los propietarios de viviendas desocupados y la caída de precios de la vivienda", dijo Massad. Sin embargo, agregó que el proceso fue complicado.
"Hay problemas de cómo hacerlo, asegurándose de que es justo, asegurándose de que no crean los incentivos equivocados", dijo Massad.
05 de junio 2011 · Deja tu comentario Su fácil de leer esta historia y ser escéptico ... después de todo, 2012 es un año electoral. Muchos verán este programa propone como nada más que una buena compra de edad votación de moda .... Sin embargo usted lo ve, principales deducciones saldo de la hipoteca están de vuelta en el juego. Eso es correcto, el programa de patrimonio neto negativo mítico sobre la mesa.
¿Hay alguna forma en que algo como esto va a suceder dado el republicano (y Tea Parties) intentó pasar a un enfoque más conservador para el gasto? Recuerde que la gente, este es SU dinero del pagador de impuestos el dinero ... ... que se va a reducir los saldos de capital de la hipoteca.
Comparte tus pensamientos .. es hora de rescatar a los propietarios de viviendas?
La administración Obama quiere ayudar a más estadounidenses que luchan permanecer en sus hogares mediante la reducción de la cantidad que debe en sus hipotecas en problemas, un alto funcionario del Tesoro dijo el sábado.
"Estamos definitivamente tratando de facilitar la reducción de más capital," dijo Timothy Massad, en calidad de secretario adjunto del Tesoro para la estabilidad financiera. "Es una pieza muy importante de la solución global", dijo.
El gobierno está intentando a través de programas financiados por los contribuyentes para evitar que los propietarios pierdan sus casas. Casi $ 50 mil millones han sido retiradas del rescate de los bancos 700 mil millones dólares conocido como Programa de Alivio de Activos en Problemas, o TARP, para ayudar a propietarios en dificultades.
La persistencia de alto desempleo y un débil mercado de la vivienda suponen una amenaza para las perspectivas del presidente Obama reelección el próximo año.
Hasta ahora, uno de los programas ha ayudado a unos 670.000 propietarios en dificultades ganar más bajos pagos de la hipoteca. Pero eso ha hecho muy poco para ayudar al mercado de la vivienda en general, que se mantiene deprimida como en otras partes de la economía han comenzado a recuperarse.
Un exceso de casas en venta, las ejecuciones hipotecarias, la escasez de crédito y la demanda poco han impedido la recuperación de la vivienda. Los datos recientes muestran que los precios cayeron por debajo de la casa baja visto en abril de 2009 durante la crisis financiera.
"Este ha sido un mercado de la vivienda muy, muy difícil como consecuencia del hecho de que pasamos por una crisis financiera terrible", dijo Massad periodistas en el marco de un evento de prevención de ejecuciones hipotecarias en Washington.
Uno de los programas de la administración ayuda a propietarios en dificultades evitar la ejecución hipotecaria, proporcionando modificaciones permanentes préstamo.
Otro programa, el aumento gradual de ahora, da a los estados que han sido los más afectados por la caída de precios de las casas de financiación para ayudar a reducir el principal del préstamo de un prestatario, entre otras cosas.
"Creo que los va a hacer una gran diferencia en cuanto a los problemas de los propietarios de viviendas desocupados y la caída de precios de la vivienda", dijo Massad. Sin embargo, agregó que el proceso fue complicado.
"Hay problemas de cómo hacerlo, asegurándose de que es justo, asegurándose de que no crean los incentivos equivocados", dijo Massad.
Quote of The Day
To live is the rarest thing in the world. Most people exist, that is all.
Courtesy of Oscar Wilde
Probate Homes, Short Sales, Fha Home Loans, Real Estate News, Loans with ITIN Number
Quote of The Day
To live is the rarest thing in the world. Most people exist, that is all.
Courtesy of Oscar Wilde
Homes on Probate, Fha Loan, Home Loans with ITIN Number, Real Estate News
Short Sales Tips For Home Owners
If you're thinking of selling your home, and you expect that the total amount you owe on your mortgage will be greater than the selling price of your home, you may be facing a short sale. A short sale is one where the net proceeds from the sale won't cover your total mortgage obligation and closing costs, and you don't have other sources of money to cover the deficiency. A short sale is different from a foreclosure, which is when your lender takes title of your home through a lengthy legal process and then sells it.
1. Consider loan modification first. If you are thinking of selling your home because of financial difficulties and you anticipate a short sale, first contact your lender to see if it has any programs to help you stay in your home. Your lender may agree to a modification such as: Refinancing your loan at a lower interest rate; providing a different payment plan to help you get caught up; or providing a forbearance period if your situation is temporary. When a loan modification still isn’t enough to relieve your financial problems, a short sale could be your best option if:
Your property is worth less than the total mortgage you owe on it.
You have a financial hardship, such as a job loss or major medical bills.
You have contacted your lender and it is willing to entertain a short sale.
2. Hire a qualified team. The first step to a short sale is to hire a qualified real estate professional and a real estate attorney who specialize in short sales. Interview at least three candidates for each and look for prior short-sale experience. Short sales have proliferated only in the last few years, so it may be hard to find practitioners who have closed a lot of short sales. You want to work with those who demonstrate a thorough working knowledge of the short-sale process and who won't try to take advantage of your situation or pressure you to do something that isn't in your best interest. A qualified real estate professional can:
Provide you with a comparative market analysis (CMA) or broker price opinion (BPO).
Help you set an appropriate listing price for your home, market the home, and get it sold.
Put special language in the MLS that indicates your home is a short sale and that lender approval is needed (all MLSs permit, and some now require, that the short-sale status be disclosed to potential buyers).
Ease the process of working with your lender or lenders.
Negotiate the contract with the buyers.
Help you put together the short-sale package to send to your lender (or lenders, if you have more than one mortgage) for approval. You can’t sell your home without your lender and any other lien holders agreeing to the sale and releasing the lien so that the buyers can get clear title.
3. Begin gathering documentation before any offers come in. Your lender will give you a list of documents it requires to consider a short sale. The short-sale “package” that accompanies any offer typically must include:
A hardship letter detailing your financial situation and why you need the short sale
A copy of the purchase contract and listing agreement
Proof of your income and assets
Copies of your federal income tax returns for the past two years
4. Prepare buyers for a lengthy waiting period. Even if you're well organized and have all the documents in place, be prepared for a long process. Waiting for your lender’s review of the short-sale package can take several weeks to months. Some experts say:
If you have only one mortgage, the review can take about two months.
With a first and second mortgage with the same lender, the review can take about three months.
With two or more mortgages with different lenders, it can take four months or longer.
When the bank does respond, it can approve the short sale, make a counteroffer, or deny the short sale. The last two actions can lengthen the process or put you back at square one. (Your real estate attorney and real estate professional, with your authorization, can work your lender’s loss mitigation department on your behalf to prepare the proper documentation and speed the process along.)
5. Don't expect a short sale to solve your financial problems. Even if your lender does approve the short sale, it may not be the end of all your financial woes. Here are some things to keep in mind:
You may be asked by your lender to sign a promissory note agreeing to pay back the amount of your loan not paid off by the short sale. If your financial hardship is permanent and you can’t pay back the balance, talk with your real estate attorney about your options.
Any amount of your mortgage that is forgiven by your lender is typically considered income, and you may have to pay taxes on that amount. Under a temporary measure passed in 2007, the Mortgage Forgiveness Debt Relief Act and Debt Cancellation Act, homeowners can exclude debt forgiveness on their federal tax returns from income for loans discharged in calendar years 2007 through 2012. Be sure to consult your real estate attorney and your accountant to see whether you qualify.
Having a portion of your debt forgiven may have an adverse effect on your credit score. However, a short sale will impact your credit score less than foreclosure and bankruptcy.
Downpayment Assistant Program Available For First Time Home Buyers
What is a down payment:
In the purchase of a house is the money you need to bring from your own savings, 401K retirement program or in the case for an fha loan it could be a gift from a family member, friend, boss and anyone that want to contribute to it.
In this particular case you bring your own down payment and you get also down payment assistance from los Angeles City or County.
Cities covered on this program:
The East San Fernando Valley Cities: Sylmar, Mission Hills, North Hills, Arleta, Parts of Van Nuys, Panorama City and Sun Valley.
Who Qualifies?
Only First Time Home buyers, those are defined as the ones that never have bought a home, are not on anyone's mortgage loan, or have not own a home in the last 3 years and this applies on all those cases.
There are Income limits for: Low and Moderate Income, for more questions or information contact Alberto Pacheco at 818 481 9211 or by email at: albertopacheco5195@hotmail.com
You need to assist to a First Time Home Buyer Seminar and get the certificate after completion as proof of assistance.
There is one Program Called New Casa, if you qualify for it you can get up to 60,000 as Down payment assistant to buy only the homes this non profit owns.
Check Available Homes For Sale: http://granadahills.kwrealty.com/about/
Alberto Pacheco
818 481 9211
albertopacheco@kw.com
www.stoppayingrentinla.com My Facebook My Twitter
In the purchase of a house is the money you need to bring from your own savings, 401K retirement program or in the case for an fha loan it could be a gift from a family member, friend, boss and anyone that want to contribute to it.
In this particular case you bring your own down payment and you get also down payment assistance from los Angeles City or County.
Cities covered on this program:
The East San Fernando Valley Cities: Sylmar, Mission Hills, North Hills, Arleta, Parts of Van Nuys, Panorama City and Sun Valley.
Who Qualifies?
Only First Time Home buyers, those are defined as the ones that never have bought a home, are not on anyone's mortgage loan, or have not own a home in the last 3 years and this applies on all those cases.
There are Income limits for: Low and Moderate Income, for more questions or information contact Alberto Pacheco at 818 481 9211 or by email at: albertopacheco5195@hotmail.com
You need to assist to a First Time Home Buyer Seminar and get the certificate after completion as proof of assistance.
There is one Program Called New Casa, if you qualify for it you can get up to 60,000 as Down payment assistant to buy only the homes this non profit owns.
Check Available Homes For Sale: http://granadahills.kwrealty.com/about/
Alberto Pacheco
818 481 9211
albertopacheco@kw.com
www.stoppayingrentinla.com My Facebook My Twitter
Bank Repossessions Down 29% Over 12 Months
Foreclosure filings experienced their eighth straight month of declines, according to RealtyTrac.
In May, filings fell 33% from a year earlier and 2% month-over-month, according to the online marketplace of foreclosed properties. The number of homes that were repossessed (referred to as REOs or real estate-owned properties) in May also declined to 66,879, down 3.8% from April and 29% year-over-year, the firm said.
The huge year-over-year drop in foreclosures doesn't necessarily mean the housing market is staging a recovery, however. James Saccacio, the CEO of RealtyTrac, says the declines are likely due to lingering effects of the "robo-signing" scandal, which broke last September, when it was discovered that banks were playing fast and loose with foreclosure documents.
In some cases, it was found that banks brought foreclosure proceedings upon homeowners when they had no standing to do so. Sloppy paperwork sometimes made it impossible to tell which entity was the rightful owner of the mortgage notes.
To help fix the mess, foreclosure proceedings were temporarily suspended. Even though the suspension has since been lifted, the pace of foreclosures remains significantly slower as banks more thoroughly review each case to ensure they are being handled legally and properly.
There's another factor at play, as well. The banks can't sell the homes they've already seized so they aren't as incentivized to repossess more homes."[There's] weak demand from buyers, making it tough for lenders to unload their REO inventory," said Saccacio. "Even at a significantly lower level than a year ago, the new supply of REOs exceeds the amount being sold each month."
The banks don't want to take on the expense of maintaining the homes -- property taxes, heating costs, repairs and insurance -- if they can't sell them quickly. Selling off the inventory of repossessed homes is crucial to the housing market, said Jim Gillespie, CEO of Coldwell Banker. Sold at steep discounts, REOs compete with new homes for buyers and have severely depressed new home sales.
"That's a critical element for the economic recovery," said Gillespie. "If new homes were selling anywhere close to their levels of five years ago, it would add a full point to the GDP."
The steepest drops in filings have come from judicial states, ones in which the courts are involved in repossessions. In these states, where foreclosure proceedings are subject to the scrutiny of the courts, it appears banks are taking special care to make sure they've stamped out the last vestiges of the robo-signing issues.
Nevada, where most cases are handled outside of court, continued to be foreclosure central. One of every 103 households received a notice of some kind in May. However, that was an improvement of 23% compared with May 2010. Arizona, with one filing for every 210 households, and California, one for every 259, were second and third.
The judicial state of Florida, where the housing market is no better, has seen a much greater drop-off in filings over the past year, down 62%. It now has the eighth highest foreclosure rate, of one filing for every 461 households. A year ago, it was in the top four, along with the other "Sand States." provided by cnn money.
Alberto Pacheco
818 481 9211
albertopacheco@kw.com
www.stoppayingrentinla.com
My Facebook My Twitter
In May, filings fell 33% from a year earlier and 2% month-over-month, according to the online marketplace of foreclosed properties. The number of homes that were repossessed (referred to as REOs or real estate-owned properties) in May also declined to 66,879, down 3.8% from April and 29% year-over-year, the firm said.
In some cases, it was found that banks brought foreclosure proceedings upon homeowners when they had no standing to do so. Sloppy paperwork sometimes made it impossible to tell which entity was the rightful owner of the mortgage notes.
To help fix the mess, foreclosure proceedings were temporarily suspended. Even though the suspension has since been lifted, the pace of foreclosures remains significantly slower as banks more thoroughly review each case to ensure they are being handled legally and properly.
Walk away from your mortgage? Get 'ruthless'
"Foreclosure processing delays continue to mask the true face of the foreclosure situation," said Saccacio. "Lenders are somewhat unevenly pushing batches of bad loans through foreclosure as they overhaul their paperwork and documentation procedures."There's another factor at play, as well. The banks can't sell the homes they've already seized so they aren't as incentivized to repossess more homes."[There's] weak demand from buyers, making it tough for lenders to unload their REO inventory," said Saccacio. "Even at a significantly lower level than a year ago, the new supply of REOs exceeds the amount being sold each month."
The banks don't want to take on the expense of maintaining the homes -- property taxes, heating costs, repairs and insurance -- if they can't sell them quickly. Selling off the inventory of repossessed homes is crucial to the housing market, said Jim Gillespie, CEO of Coldwell Banker. Sold at steep discounts, REOs compete with new homes for buyers and have severely depressed new home sales.
"That's a critical element for the economic recovery," said Gillespie. "If new homes were selling anywhere close to their levels of five years ago, it would add a full point to the GDP."
The steepest drops in filings have come from judicial states, ones in which the courts are involved in repossessions. In these states, where foreclosure proceedings are subject to the scrutiny of the courts, it appears banks are taking special care to make sure they've stamped out the last vestiges of the robo-signing issues.
Nevada, where most cases are handled outside of court, continued to be foreclosure central. One of every 103 households received a notice of some kind in May. However, that was an improvement of 23% compared with May 2010. Arizona, with one filing for every 210 households, and California, one for every 259, were second and third.
The judicial state of Florida, where the housing market is no better, has seen a much greater drop-off in filings over the past year, down 62%. It now has the eighth highest foreclosure rate, of one filing for every 461 households. A year ago, it was in the top four, along with the other "Sand States." provided by cnn money.
Alberto Pacheco
818 481 9211
albertopacheco@kw.com
www.stoppayingrentinla.com
My Facebook My Twitter
Sunday, October 09, 2011
Available Foreclosed and Bank Owned Homes In Granada Hills
Available Foreclosures and Bank Owned Homes in Granada Hills. Starting Price From $ 264,000.
Click The Link Below To View The Homes
FORECLOSED AND BANK OWNED HOMES IN GRANADA HILLS
Alberto Pacheco
(818) 481 9211
Keller Williams Granada Hills
16842 Devonshire St
Granada Hills CA 91344
www.stoppayingrentinla.com My Facebook My Twitter
Click The Link Below To View The Homes
FORECLOSED AND BANK OWNED HOMES IN GRANADA HILLS
Alberto Pacheco
(818) 481 9211
Keller Williams Granada Hills
16842 Devonshire St
Granada Hills CA 91344
www.stoppayingrentinla.com My Facebook My Twitter
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