Real Estate Short Sale News and Info » San Clemente

248 Homes set to foreclose any day now in Carlsbad CA!

Michael-Edward Cruz — Fri, 17 Dec 2010 04:46:43 +0000

248 Homes set to foreclose any day now in Carlsbad CA!

GET YOUR FREE LIST OF
FORECLOSURE PROPERTIES

Were they trying to modify their loans? The sad truth is that probably were.
Loan modification hopes lead more people into foreclose than anything else
I have seen. I remember in 2007, when I would work on short sales, the lenders
would say to me. “Do your clients want to stay in their homes?” I would say
yes and boom, loan mod. A year later the word loan mod became a buzz word
and people were canceling their short sales left and right.

Now in 2010 we get conflicting stories from lenders and the government. Lenders have told me, “next year” no more postponing foreclosures, were done with that, either short sale or foreclosure”, then the government says, we will require lenders to halt foreclosure when determining if the client qualified for a loan mod.

Who do you believe?

Here is what I do know, I can help get your short sale done. PERIOD

Will everyone qualify? NO, but we need to find out as soon as possible.

But I can’t help you if you come to me at the last minute anymore. I am always happy to help people in my community, but the lenders have said, no more delays, no more foreclosure postponements.

I WANT TO HELP YOU AVOID LANDING ON THIS LIST! CALL ME RIGHT AWAY FOR A CONFIDENTIAL APPT.

BLOG TITLE TEXT WITH TAGS

Michael-Edward Cruz
Broker Associate with Solutions Real Estate
Lic 01758933
1-800-374-9110
www.mikerebroker.com

Looking for homes? Try our Free MLS Search

Carlsbad Real Estate Home Search Total Access FREE MLS

Michael-Edward Cruz — Wed, 15 Dec 2010 05:04:15 +0000

Are you looking to buy a home in Carlsbad ~ Aviara CA?

My Name is Michael-Edward Cruz and I want to help you get started.

Need more personalized service?

I can help you with:

Customized Alerts of specific areas, sale types, features, ect…ect…
I can show you homes NOT on the internet.
I can show you home that are not on sale YET.

Not in my service area?

Not to worry, I network with agents throughout California and can find a quality agent for you. I will help you avoid poor representation.

FREE MLS SEARCH

Michael-Edward Cruz
Broker Associate with Solutions Real Estate
Lic 01758933
1-800-374-9110
www.mikerebroker.com

Looking for homes? Try our Free MLS Search

Fannie, Freddie Pressed to Reduce Mortgages

Michael-Edward Cruz — Mon, 13 Dec 2010 03:19:41 +0000

Fannie, Freddie Pressed to Reduce Mortgages

Source: Wall Street Journal, Nick Timiraos, Alan Zibel (12/08/10)

The Obama administration is pressuring Fannie Mae and Freddie Mac to write down “underwater” home loans through fledgling FHA and Treasury programs.

The aim of the initiatives is to reduce loan balances, which Fannie Mae and Freddie Mac have been reluctant to do because it would deepen their losses.

However, the Obama administration wants to reduce the threat to the housing market posed by home owners believed to be at risk of default should their personal finances or home prices worsen.

Do you think this latest attempt to force lenders to work with homeowners will work?

Or do you think this is just another way to quiet the American public while nothing changes?

I don’t know…All I know is that we have been able to help homeowners eliminate their toxic debt via short sale. They get a fresh start and are able to start mending their credit and their cash flow. Not everyone will qualify or should even do a short sale, so call us to for your free evaluation. If you qualify we will be able to work with your lenders free of charge. Our commissions are paid by the lender at close of escrow. If you don’t qualify we will refer you to qualified bankruptcy and real estate attorneys that can review your case.

Michael-Edward Cruz
Broker Associate with Solutions Real Estate
Lic 01758933
1-800-374-9110
www.mikerebroker.com

Looking for homes? Try our Free MLS Search

Carlsbad Real Estate | Realtor | Foreclosure Info from Fannie and Freddie

Michael-Edward Cruz — Fri, 10 Dec 2010 19:41:09 +0000

MERRY CHRISTMAS AND A HAPPY NEW YEAR?

No Foreclosures Over the Holidays

Source: CNNMoney, Les Christie (12/03/2010)

Fannie Mae and Freddie Mac are freezing all foreclosure evictions on the mortgage loans they own or back from Dec. 20 through Jan. 3.

“If the property is occupied, our foreclosure attorneys will suspend the eviction to provide a greater measure of certainty to families during the holidays,” says Anthony Renzi, executive vice president of single family portfolio management at Freddie Mac.

Most of the large banks, including Bank of America, J.P. Morgan Chase, and Wells Fargo, already observe a moratorium through the New Year, unless the foreclosure involves an investor who chooses not to observe the holiday policy.

Carlsbad Residents, don’t wait until this is what you worry about during the Holidays

You have enough to worry about during the holidays, parties, friends, gathering, gifts. Don’t make getting evicted one of them. If you or someone you know is starting to have problems with the mortgage you need to call me right away.

Don’t Wait any longer

Michael-Edward Cruz
Solutions Real Estate
Broker Associate 01758933
www.mikerebroker.com
1-800-374-9110 Ext.1

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

Michael-Edward Cruz — Tue, 30 Nov 2010 05:19:29 +0000

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 you owe the Government, which always takes first position.

Here we are going to talk about issues that arise when working with JR Liens, many times inexperienced Realtors take on a short sale only to find out many months later that a JR lien has already doomed them from ever closing the sale.

It is not all bad news though, we talk about these problems so we can advise you of actions to take before you commit a buyer to a long escrow that will go nowhere. Knowing issues upfront are key to a successful outcome in the world of short sales. More successful outcomes, more buyers who are willing to buy your home.

Here are a few items we discussed…

HELOCS (Home Equity Lines of Credit)

HELOCS have become very challenging to settle in short sale transactions, many times this lender will look harder for a detailed explanation as to what the money has been used for. Many times these lenders will require the seller to make a cash contribution or agree to repay some of the debt. Homeowners need to know this upfront, this is the first step to start over and put this massive debt behind them. You need to know how to make a case for your hardship and work with the servicer to work out a deal so you can move on with your life and put your financial life in order.

CHARGE OFFS

Some pool of loans serviced by lenders like Chase and Bank of America have began to sell off JR Liens to default note buyers after 6 months of non performance (nonpayment) These type of investors will then contract collection attorneys who practice the most aggressive collection tactics to try and collect on SOME of these JR Liens, this ironically makes settling your debt very difficult in the process. The most effective way to protect yourself from having this issue is knowledge, knowing will help you keep these debts from being charged off is key. Most of these second loan payments tend to be smaller and may be kept from charge off by paying the minimum required every month.

If this has already happened, do not just ignore the it, it WILL GET WORSE unless you proactively plan to remedy this situation. Remember this does not mean a short sale is impossible, it just means that a review is necessary to create a successful plan of action. In some cases short sale will not help and you may need to resort to more drastic measures such as bankruptcy. This is the time to prepare yourself, the quicker you do the quicker you can move on. We can help…

FORECLOSE AND FORGET MYTH

Some homeowners believe that if the home forecloses, then all other loans are wiped out and go away. We have found that many homeowners who had homes foreclosed in 2007 and 2008 are now beginning to get collections notices from their JR LIEN holders for money owed to them. Letting the “home go” will not make the problem go away. Now they not only have a foreclosure but their credit will continue to be dragged thru the mud for months and possible years to come.

The Realtor you choose to work on your short sale has to be familiar with your servicer (Bank of America, Chase, Wells Ect). You need a complete evaluation to see whether you qualify for your short sale.

I invited Troy Huerta to share his knowledge with you because he has been instrumental in my short sale success and he is someone I consult with on very difficult transactions.

Troy continues to educate REALTORS on secrets to a successful short sale and will start offering new classes for processors and assistants that work with REALTORS, so Realtors can spend more time working with their clients. This classes will begin in 2011, if you need more info on his courses just email me.

I hope you have enjoyed our series on short sales. My goal is to educate homeowners and agents that are new to short sales get a better understanding of what this market is like. Once you know more about short sales you can begin to see that not everything you hear about short sale are true. Most people hear about the horror stories surrounding short sales. Once you are familiar to this process you too will begin see short sales in more positive light.

The secret to success in Real Estate is knowledge.

Thank you and check us out tomorrow as we continue to share more about this topic affecting our Real Estate Market in Carlsbad California.

Carlsbad Real Estate | Short Sale Week with Michael-Edward Cruz Carlsbad Short Sale Certified Specialist

Michael-Edward Cruz — Sun, 28 Nov 2010 06:53:29 +0000

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 don’t live in our service area don’t worry. I network with agents nationwide with my activerain.com account and can help YOU find an agent that will HELP YOU CLOSE YOUR SHORT SALE.

Thank you for watching

Carlsbad Real Estate Broker | Aviara, La Costa, Bressi Ranch | What are Mello Roos ?

Michael-Edward Cruz — Sun, 21 Nov 2010 22:15:47 +0000

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…

Carlsbad Real Estate | California Association of Realtors releases Third Quarter Real Estate Report: First time buyer affordability index of Households in California FTB-HAI

Michael-Edward Cruz — Fri, 19 Nov 2010 22:46:53 +0000

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 stood at 66 percent in the third quarter of 2010, according to C.A.R.’s FTB-HAI. In the second quarter of 2010, the Index was a revised 65 percent and was 64 percent in the third quarter of 2009.
First-time buyers, who tend to purchase homes equal to 85 percent of the prevailing median price, needed to earn a minimum annual income of $42,300 to qualify for an entry-level home of $266,620 during the third quarter of 2010. The monthly payment, including taxes and insurance, was $1,410, assuming a 10 percent down payment and an adjustable effective interest rate of 3.66.
At 85 percent, the High Desert region was the most affordable area in the state. The San Francisco Bay region was the least affordable in the state at 51 percent, followed by the Santa Barbara area and the Santa Clara County regions, both at 53 percent.

LINK TO REPORT http://www.car.org/3550/xls/econxls/Counties_FTB_HAI__Q12000toQ32010….xls

If you are watching this on activerain and you cannot post a comment you can click here to get to my short sale blog

Michael-Edward Cruz
California Real Estate Broker 01758933
www.mikerebroker.com
www.shortsalemc.com
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Learn About Tax Credit for Homeowners

Michael-Edward Cruz — Mon, 01 Mar 2010 14:07:33 +0000

Tax Credits for Solar Water Heaters

A federal tax credit makes energy-efficient solar water heaters a more affordable and sustainable option for many homeowners. Read
Tax Credits for Replacing Heating and Cooling Systems

Upgrading to an energy-efficient heating and cooling system can save hundreds on your utility bills and earn you a tax credit worth as much as $1,500. Read
Tax Credits for Replacing Your Roof

Replacing your roof with a qualifying energy-efficient metal or asphalt roof can cut your cooling bill and earn you a $1,500 tax credit. Read
Tax Credits for Adding or Replacing Insulation

A federal tax credit makes adding insulation an even cheaper way to improve your home’s energy efficiency and cut your heating and cooling bills. Read
Tax Credits for Replacing Windows, Doors, and Skylights

If money seems to be escaping through drafty windows, doors, and skylights, this federal tax credit might make energy-efficient replacements more affordable. Read

Visit houselogic.com for more articles like this.

Real Estate Short Sale News and Info » San Clemente

248 Homes set to foreclose any day now in Carlsbad CA!

248 Homes set to foreclose any day now in Carlsbad CA!

GET YOUR FREE LIST OF FORECLOSURE PROPERTIES

Who do you believe?

Here is what I do know, I can help get your short sale done. PERIOD

Will everyone qualify? NO, but we need to find out as soon as possible.

But I can’t help you if you come to me at the last minute anymore. I am always happy to help people in my community, but the lenders have said, no more delays, no more foreclosure postponements.

I WANT TO HELP YOU AVOID LANDING ON THIS LIST! CALL ME RIGHT AWAY FOR A CONFIDENTIAL APPT.

Looking for homes? Try our Free MLS Search

Carlsbad Real Estate Home Search Total Access FREE MLS

Are you looking to buy a home in Carlsbad ~ Aviara CA?

My Name is Michael-Edward Cruz and I want to help you get started.

Looking for homes? Try our Free MLS Search

Fannie, Freddie Pressed to Reduce Mortgages

Fannie, Freddie Pressed to Reduce Mortgages

Do you think this latest attempt to force lenders to work with homeowners will work?

Or do you think this is just another way to quiet the American public while nothing changes?

Looking for homes? Try our Free MLS Search

Carlsbad Real Estate | Realtor | Foreclosure Info from Fannie and Freddie

MERRY CHRISTMAS AND A HAPPY NEW YEAR?

No Foreclosures Over the Holidays

Carlsbad Residents, don’t wait until this is what you worry about during the Holidays

Don’t Wait any longer

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

AVOID SHORT SALE NIGHTMARES

JR Liens

HELOCS (Home Equity Lines of Credit)

CHARGE OFFS

FORECLOSE AND FORGET MYTH

Carlsbad Real Estate | Short Sale Week with Michael-Edward Cruz Carlsbad Short Sale Certified Specialist

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.

Carlsbad Real Estate Broker | Aviara, La Costa, Bressi Ranch | What are Mello Roos ?

What are Mello Roos?

READ MORE ABOUT MELLO ROOS

Carlsbad Real Estate | California Association of Realtors releases Third Quarter Real Estate Report: First time buyer affordability index of Households in California FTB-HAI

HOMES ARE MORE AFFORDABLE IN THE 3RD QUARTER IN CALIFORNIA

Learn About Tax Credit for Homeowners

GET YOUR FREE LIST OF
FORECLOSURE PROPERTIES