Archive for » November, 2010 «

Carlsbad Real Estate Broker | Short Sale Basics

30
Nov 2010
Back to Basics with Short Sales What is a short sale? When can you do a Short Sale? What is a good hardship?
Category: Michael-Edward Cruz, Short Sale News  Tags: , , , , , , , , , , , , , , ,  Leave a Comment

Carlsbad Real Estate Short Sales | Short Sale Week | JR Lien Issues with Short Sale Expert Troy Huerta

29
Nov 2010
AVOID SHORT SALE NIGHTMARES I am here at Peet’s Coffee & Tea in the Carlsbad Community of Bressi Ranch with Troy Huerta Broker/Realtor/Short Sale Expert and Mentor, to discuss issues that one can have when trying to do a short sale and avoid foreclosure. JR Liens What are JR Liens? JR Liens are loans or financial obligations that are attached to your property and are not in ‘first position’. So, for example if you have two loans, your first mortgage is in first position all others are ‘JR LIENS’. Most of the time the first mortgage is in first position, unless [ ... ]
Category: Bressi Ranch, Carlsbad Real Estate  Tags: , , , , , , , , , , , , , , , , , , , , ,  Leave a Comment

Carlsbad Real Estate | Short Sale Deal Killers

29
Nov 2010
Short Sale Killers # 1 – Video and Text Versions see below “No Cooperation”   This is the BIGGEST reason why short sales fail. Why do I know this? Because when I jumped into this game I was working on these deals ‘alone’. Yes I was working on short sales alone because no one was willing to do anything to close these deals but me. I was working with the lender, I was cutting my commission, I was calling and calling to get paperwork from sellers who would take weeks to send it, I was trying to keep the buyer on board. Man, [ ... ]
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CNN Article – Sales Off by 80% From Peak, New Home Sales Set Record Low

29
Nov 2010
CNN posted an article just before Thanksgiving discussing the housing market’s continued woes, the inference to short sale investors being that short sales will continue to be a strong portion of the market for the foreseeable future. Some key facts from the article: New home sales dropped to an annual pace of just 283,000, according [...]
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Carlsbad Real Estate | Short Sale Week with Michael-Edward Cruz Carlsbad Short Sale Certified Specialist

27
Nov 2010
Does this remind you of dealing with your lender? We have been working on short sales since 2007 and this is how they seemed to us back then. This week I will outline key strategies that help us (Realtors) close short sales. As you know short sales can be difficult, but do you know what makes them difficult? I will explain what to avoid. We will also outline what can make or break your short sale. As well as things that you must consider if you decide to short sale your home. If you need a seasoned specialist but [ ... ]
Category: Carlsbad Real Estate, Short Sale News  Tags: , , , , , , , , , , , , , , , , , , , , , ,  Leave a Comment

Carlsbad Real Estate | Short Sale Seller Protection SB931 Explained

26
Nov 2010
Carlsbad Real Estate | Short Sale information SB 931 Deficiency Protection We deal with short sales, and part of this business means staying informed. Last week Titanium solutions a company that works with Realtors and Servicers invited us to hear from different key speakers in the distressed real estate market. One of the speakers was Attorney Joseph L. Stine. He talked to us about SB 931, new bill that was passed into Law by Governor Schwarzenegger. Below are more details to this new law. Call us if you need to qualify for a short sale, if you need to speak to this [ ... ]
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By: Misha

26
Nov 2010
I just read through all the comments on this blog. I recently requested a loan modification with my lender BofA after 1 year of going throught the foreclosure process. I was so afraid I was going to lose my home. I read a really informative how-to guide that was not lengthy and super informative- gave me the info I needed to negotiate with my bank. My loan modification was approved and now I can relax! Just though I would pass this along to anyone in need: www.loanmodhowtoguide.com :) Good luck and God [ ... ]
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Carlsbad Realtor | HOT BUY for Corona Real Estate Deal

23
Nov 2010
HOT BUY ACT NOW! WILL NOT LAST ! A fellow Broker has a gorgeous home in Corona for sale. This is a regular sale but its priced like a short sale! Located in the community of Eagle Glen. Great BUY! To find out more call me. This property WILL NOT LAST in this market ACT NOW!
Category: Corona, Eagle Glen, Home Buyers, Listing, Riverside County  Tags: , , , ,  One Comment

HAFA Dissapointment: Short Sales for Failed HAMP mods up 27% from August, HAFA not being used

23
Nov 2010
Interesting article courtesy of Jon Prior of HousingWire released last Friday that discusses the status of HAMP modifications and short sale statistics. Top mortgage servicers have completed 91,827 short sales or deeds-in-lieu of foreclosure on canceled trial or declined modifications through the Home Affordable Modification Program as of September, up 27% from the previous month, [...]
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By: Hardship Letter

22
Nov 2010
Lets not forget also how important it is to write an effective loan modification hardship letter folks. It's an essential key to getting approved. Great article! Good Luck!
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Carlsbad Real Estate | Fannie Mays New Consumer Website

22
Nov 2010
STOP FORECLOSURE! GET INFORMATION FREE Are you in foreclosure? Do you want to know your options but don’t want swim with the sharks? This website may have the information you need to help you save your home. FANNIE MAY WEBSITE If keeping your home is not an option and you need to short sale, then call us. We are certified with two major short sale designations ( CDPE and PSC ) and have invested a lot of time and money in our education in order to help you get your short sale approved. Call now to see if [ ... ]
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Carlsbad Real Estate Broker | Aviara, La Costa, Bressi Ranch | What are Mello Roos ?

21
Nov 2010
What are Mello Roos? As always, today’s families recognize the importance of living in a community that’s as desirable as their home itself. Mello-Roos enables critical community facilities to be provided whenever they’re needed at a lower cost ultimately to homeowners. By doing so, Mello-Roos ensures a higher quality of life… READ MORE ABOUT MELLO ROOS
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Carlsbad Real Estate Broker | Aviara, La Costa, Bressi Ranch |Federal Tax Credit

20
Nov 2010
DO I NEED TO REPAY MY TAX CREDIT ? Back in 2008, when the housing market was in even deeper trouble than it is in now, Congress passed the Housing and Economic Recovery Act to help move a glut of homes off the market. One of the key provisions was… Read more: Do You Have to Repay Your Homebuyer Credit? – Personal Finance – Taxes – SmartMoney.com Michael-Edward Cruz California Real Estate Broker 01758933 www.mikerebroker.com www.shortsalemc.com Become a [ ... ]
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Carlsbad Real Estate | California Association of Realtors releases Third Quarter Real Estate Report: First time buyer affordability index of Households in California FTB-HAI

19
Nov 2010
HOMES ARE MORE AFFORDABLE IN THE 3RD QUARTER IN CALIFORNIA Can the economy support this? Forgot to mention FHA buyers, on the video. The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) this week issued its third quarter First-time Buyer Housing Affordability Index (FTB-HAI), which indicates the percentage of households in California who could afford an entry-level home in the state during that period. The percentage of first-time buyers who could afford to purchase an entry-level home in California [ ... ]
Category: News, Short Sale News  Tags: , , , , , , , , , , , , , , , , , , , , , , ,  Leave a Comment

By: rodney@building a new home

19
Nov 2010
The plan had to many conditions and not enough flexibility. It did nothing for those who have mortgages owned by private investors - which was a ton of people.
Category: Short Sale News  Tags: , ,  Leave a Comment

Carlsbad Real Estate – Short Sale Question | Should I stay in the home while doing a short sale?

18
Nov 2010
By Michael-Edward Cruz California Real Estate Broker 01758933 I was asked a question the other day about whether it was better to stay in the home when doing a short sale or was it better to move before the credit got any worse. While this wasn’t explained in the video, most property management companies and landlords have been pretty lenient with potential renters who have short sold their homes or gone thru a foreclosure. There are other issues with Vacant Short Sale that we wrote about below. Many people living in North San Diego, South Orange County and South Riverside County who have [ ... ]
Category: Short Sale News  Tags: , , , , , , , , , , , , , , , , , , , , ,  2 Comments

Carlsbad Short Sale News | Foreclosure activity rises 65 Percent in Q3

17
Nov 2010
Foreclosure activity increased 65 percent nationwide year-over-year, according to RealtyTrac’s Q3 2010 Metropolitan Foreclosure Market Report.  The report showed that cities in California, Florida, Nevada, and Arizona once again accounted for all top 10 foreclosure rates in the third quarter among metropolitan areas with a population of 200,000 or more, while cities outside those four states accounted for many of the biggest increases in metro foreclosure activity.  California, Florida, Nevada, and Arizona cities also accounted for 19 of the top 20 metro foreclosure rates. With one in every 36 housing units receiving a foreclosure filing during the third quarter, Modesto, Calif., [ ... ]
Category: Banks, Michael-Edward Cruz, News, Orange County, Riverside County, San Clemente Talega, San Diego County, Short Sale News, Temecula  Tags: , , , , , , , , , , , , , , , ,  One Comment

Record California Foreclosures Result In More Bank Short Sale Woes

15
Nov 2010
With an ever increasing number of foreclosures happening daily across the country, it’s only a matter of time before tax payers will likely be forced to pick up the tab for bank short sale mishaps related to top ranking California foreclosures. Read More My name is Michael-Edward Cruz, if you enjoyed this article then visit my facebook fan page and subscribe. I will continue to post related stories from other writers or my own about the real estate market. We are based in Carlsbad California [ ... ]
Category: Michael-Edward Cruz, News, Orange County, Riverside County, San Clemente Talega, San Diego County, Short Sale News, Temecula  Tags: , , , , ,  Leave a Comment

Taking a bath inside the real estate bubble

15
Nov 2010
By Scott Dickensheets Monday, Nov. 15, 2010 | 2 a.m. In 2004, two years before I bought my house, a website urged real estate investors thusly: “It is important that investors make their investments as soon as possible. This is because Las Vegas is growing and expanding at a scorching pace.” In 2005, one year before I bought my house, Ken Jones of something called the Institute of Real Estate Technologies was — in a document on greatlasvegashomes.com — dismissing fears of a bursting real estate bubble: “However, there is no rationale or fact-based reasoning being put forth to support this fear; just that [ ... ]
Category: Bank of America, Banks, Home Buyers, Michael-Edward Cruz, Orange County, Riverside County, San Clemente Talega, San Diego County, Short Sale News, Temecula  Tags: , , , , , , , , , , , , ,  Leave a Comment

By: Shooploop

08
Nov 2010
Thats right. The members who is facing great financial hardship can modify their loans using the different loan modification plans.
Category: Short Sale News  Tags: , ,  Leave a Comment

Cook’s Source and Copyright Violation / Plagiarism

08
Nov 2010
Late last week; there was quite a ruffle up in the Internet about copyright violation and plagiarism related to Cook’s Source Magazine. It’s quite an interesting story and speaks to the understanding of copyright and content ownership on the Internet. The reason I bring it into the Art of Short Sales blog is that many [...]
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