A battle plan for refinancing your mortgage

A battle plan for refinancing your mortgage
Homeowners seeking to refinance their mortgages may be surprised by the amount of paperwork required. During the “easy credit” years, some lenders did not require proof of income or documentation. Nowadays, most lenders require borrowers to provide pay stubs, banks statements, brokerage statements, and possibly tax returns. [...]

Tax credit ineligible for down payment

Tax credit ineligible for down payment
Feds reverse rule to assist first-time home buyers
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National [...]

NEW FEDERAL LAW AFFECTING DISTRESSED PROPERTIES

This week, President Barack Obama signed into law the Helping Families Save Their Homes Act of 2009 to help homeowners and lenders avoid foreclosure. Previously included in this bill was a measure to allow bankruptcy judges to modify mortgage loans for principal residences, but the U.S. Senate did not pass this “cram-down” legislation.
The Helping [...]

Treasury Dept. is giving “cash-for-keys”

Treasury Dept. is giving “cash-for-keys”
Under the Foreclosure Alternative Program (FAP) announced last week by the Obama Administration, some borrowers may be eligible for the U.S. Treasury Dept.’s deed-in-lieu program, also referred to as “cash for keys.”
A deed-in-lieu is an option offered to homeowners who are not eligible for a mortgage modification or a [...]

COLLECTIBLES FOR SALE *****NOW*****

I am helping a client – a homeowner in San Gabriel -
we are selling the house,
however, there are lots of collectibles that owner
wants to sell BELOW WHOLSALE PRICE:
LLADRO
ARMANI
DEPARTMEN 56
LENOX
NAO
DAVID WINTER
WARNER BROS
REMINGTON
DISNEY
RON LEE
DEGRAZIA
COLLECTOR PLATES
STEINS
Please call BETSY to schedule appointment to see
THE ENTIRE COLLECTION!!!
BETSY 626-285-5130
(please leave a message when no one pick up the phone
and she will [...]

Tranch Warfare Takes Toll on Short Sales

Tranch Warfare Takes Toll on Short Sales
When a short sale offer is made on a piece of real property the offer needs to gain approval of the “note holder”. However, the the securitization process often used in the past few years has clouded that process. When the mortgages are bundled and sliced up into different [...]

Foreclosure Overview

Foreclosure is the legal action that your financial institution can use to take over your home when you miss your monthly mortgage payments. When this happens, you lose your house, which is sold at a public auction.
Foreclosure will seriously affect your ability to qualify for credit in the future, so you should avoid it if [...]