I will be hosting an Open House, June 1, ,2013 from 2:30-4:30 PM and tomorrow, June 2, 2013 from 12:30-2:30PM I hope to see you there! It is a lovely four bedroom two bath home on a cul-de-sac located close to downtown. It has large lot of over 9000 square feet and is 1600+ square feet. It is gling to be a busy weekend. There is another Open House on Martinez Way from 1-4 today you might also like to
Several new listings and prices reductions have occurred in the past few days. There is a price reduction on 213 Creekside to $205,000 and Walnut Ln has been reduced to $309,000. 304 E Baker St is a new listing as of last Friday s is listed at $231,900 and is eligible for Homepath financing. It is filthy dirt and smells of animal urine but will be a nice home with some new paint, a deep clean and new flooring throughout. It is my understanding that 803 Valley Oak has several offers on it but nothing has been accepted yet. Hope this update is useful to you.
Back in July I wrote about my experience doing a HARP refi on one of my loans. The loan papers were ready for signing the beginning of September and we didn’t have to make a loan payment until the first of November! I was thrilled as that saved us two months worth of payments. On November 1 we made our first payment under the loan modification and it was $600. less than what we were previously paying. I have had to start over on the second loan as it was discovered during the process the first time that the original loan that was paid off was never recorded. Therefore it looked like I had two loans on the property. So, it took me a month to get that straightened out. But, as a result I had to start all over again with the process! What a pain but hopefully I am almost there.
Everyone downtown is gearing up for the festivities that will happening downtown this afternoon and evening. The official kick off time is 5pm. Main Street is in the process of being blocked off and the vendors are setting up there boths. Lots of people are making plans to return to Winters tonight. It is just like an old fashioned family reunion. While Winters had it famous earthquake in April of 1892 the Chamber of Commerce decided August was a better month to celebrate. As you know we already celebrate Youth Day the last weekend in April. So make plans to come on out and support the Chamber and the merchants. Being the kids, there is lots to do for everyone.
For some time now I have been totally frustrating paying 6.5% every month on my mortgage payments. So I finally decided to do something about it this month. After making my July payments I decided to call my mortgage holders to see if I could get some relief. I first called Citi Mortgage. They determined that I had a Freddie Mac loan and yes, they could help me. They lowered the interest from 6.5 to 4.25% a month, a savings of around $300. a month. I then called GMAC and found out the same things a Freddic Mac loan but they could lower the interest to 3.99%! I was over joyed. Another savings of almost $600. a month. I then called Bank of America. Sorry, not a Fannie Mae nor a Freddie Mac loan so they would do NOTHING at all. I questioned several times, “there must some program they have for people like myself ” but that went nowhere fast. So, while I am totally frustrated with BofA, and I let them know when they sent me a survey, I am happy two of these were thrilled to work with me. The down side is they are so overwhelmed even with these streamlined loan modifications, they are taking 60-90 days. Bummer but worth the wait. There are websites you can go to to see what kind of loan you have but I found them unreliable. My suggestion is to call your lender directly to see if you have a Freddie or Fannie loan and if so, what they can do for you. This could mean the difference between losing or saving your home. You do have to be current with your loan and they do check your credit. You can be upside down on the loan to value so I really encourage you to make the call and see if your lender can help reduce your mortgage payment. The whole process takes about 30 minutes and you get the loan papers right away! This is know as the H.A.R.P. Program, Home Affordable Refinance Rpogram. Good luck, let mw know what your experiences are!
When you see a Trustee Sale notice in the newspaper it means that the foreclosure process is almost to the end where the bank may take back the property. However, until that sale date happens, the owner of record is still the legal owner with all the rights of an owner. If you want to try and buy the property you need to contact the current owner and see if you can buy it from them through a short sale. However, the banks are not too keen on doing a short sale at this late date. It also gives you notice that you can show up at the Trustee Sale with cash and see if you can bid on the property. And, cash means, cash, not your check book. Often the bank wants much more than the published balance owing than what was published in the paper. You need to do your homework as there is often a second behind this first and that is information you want to know. Or it could be the second who is foreclosing and then they are liable for the first. Sound confusing? Well, that is why you need to know what you are doing to protect yourself. Hope this information is helpful.
Yesterday and today I am sitting in a class learning more about short sales. The goal is to be an expert in short sales by the end of the day. I have participated in a number of short sales and have knowledge about how they work. So the first day was fairly basic but today should be more interesting. I have clients how are considering doing a short sale and I wanted to gain more expertise in this area of real estate. Looking forward to being an “expert” by the end of the day.
Well after four months the bank has finally accepted the offer on this property! It is truly amazing to me that it took so long. We have been working on this for over a year. In December we had an accepted offer with the bank and then the Buyer backed out. Instead of just letting us slip in a new Buyer we had to start the process all over again. Even so, I really don’t think it should have taken Chase over four months to approve this deal as it was basically very similar to the one they had already accepted. What a waste of everyone’s time and money. The poor seller is still having to pay all the utilities, insurance and taxes and such while they have been waiting for this approval. Well, hopefully this will all be done by the end of June. I will keep you posted.
A nice, new single family home came on the market last week in Winters, CA. It is a good, old-fashioned, regular sale and vacant so easy to view. It has four bedrooms and two full baths with a nice little sun porch on the west side of the house. It is a custom built single story home in an area of mixed homes, some custom and some built but a developer or spec homes. It is currently listed for $305,000. Worth taking a look at.