Tuesday, September 20, 2011
Wednesday, August 24, 2011
Thursday, July 21, 2011
Any Lender who Agrees to a Short Sale must accept it a Payment in Full!
This is a great victory for all homeowners who are considering doing a short sale. Now you can get out of your property without the fear of the banks coming after you for the difference. Read below...
July 15, 2011
CALIFORNIA ASSOCIATION OF REALTORS® applauds Gov. Brown on signing SB 458 into law
LOS ANGELES (July 15) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown on signing SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.
Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.
“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.”
SB 458 contains an urgency clause making it effective upon signing.
July 15, 2011
CALIFORNIA ASSOCIATION OF REALTORS® applauds Gov. Brown on signing SB 458 into law
LOS ANGELES (July 15) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds Gov. Jerry Brown on signing SB 458 (Corbett) into law. SB 458 extends the protections of SB 931 (2010), to ensure that any lender that agrees to a short sale must accept the agreed upon short sale payment as payment in full of the outstanding balance of all loans.
Under previous law (SB 931 of 2010), a first mortgage holder could accept an agreed-upon short sale payment as full payment for the outstanding balance of the loan, but unfortunately, the rule did not apply to junior lien holders. SB 458 extends the protections of SB 931 to junior liens.
“The signing of this bill is a victory for California homeowners who have been forced to short sell their home only to find that the lender will pursue them after the short sale closes, and demand an additional payment to subsidize the difference,” said C.A.R. President Beth L. Peerce. “SB 458 brings closure and certainty to the short sale process and ensures that once a lender has agreed to accept a short sale payment on a property, all lienholders – those in first position and in junior positions – will consider the outstanding balance as paid in full and the homeowner will not be held responsible for any additional payments on the property.”
SB 458 contains an urgency clause making it effective upon signing.
Wednesday, July 6, 2011
Just Listed-Hurry priced to sell fast...visit www.5894apia.com for a virtual tour
Open House Dates:
Thur. July 7th 10am-1pm
Fri. July 8th 3pm-6pm
Sat. July 9th 1pm-4pm
Sun. July 10th 1pm-4pm
Hurry, 97% of our homes sell within the first 30 days!
Tuesday, June 14, 2011
Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through October 31, 2011.
HomePath® Buyer Incentive: June 14 – October 31
Terms and Conditions:
Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer.
Initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.
Terms and Conditions:
Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer.
Initial offer must be submitted on or after June 14, 2011 and close by October 31, 2011. Initial offers made prior to June 14 are not eligible for the June 14 – October 31 incentive.
Sale must close on or before October 31, 2011. No exceptions will be made to this deadline. (Note: Initial offers submitted after September 15, 2011 may not close by the incentive deadline of October 31, 2011.)
Buyers must be purchasing a HomePath property to use as their primary residence to receive closing cost assistance. Second homes and investment properties are excluded from the incentive.
Sales closed via the retail channel are eligible, including those utilizing public funds. Pool and auction sales are ineligible.
Buyers must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
Buyers with total closing costs under 3.5% are not eligible to receive the difference as a credit.
Properties where Fannie Mae acquired the property in connection with financing under a reverse mortgage are not eligible. Ask the listing agent for details.
Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.
Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of the incentive shall be resolved by Fannie Mae in its sole discretion.
Thursday, June 2, 2011
Open House Jun 4 (1pm-4pm) 4512 E. Vermont Long Beach, 90803 (Belmont Heights) Only 1 mile to the BEACH!
Remodeled/New Construction, Contemporary 3 bedroom 3 bath Home Only 1 mile to the BEACH! New Family Room and New 2 car detached garage with roll up door. Light & Bright Living Room with 25 year liminate floors and Venetian Plaster Fireplace. New Kitchen w/Granite Counters, Pantry, & Stainless Steel Appliances including Gas Cooktop, Oven, Dishwasher, & Breakfast Bar that opens to Dinning Area. Master Bedroom Suite with a New Bathroom that has travertine flooring, Skylight tube, and Granite Vanity. New Family Room opens to New Wooden Deck with a view of the Private Peaceful Backyard. 25 years 12mm Laminate Floors throughout. New: Roof,Copper Plumbing, Tankless Water Heater, Ceiling Insulation, Wall Furnace, Doors, Paint, Top of the line Designer Sinks & Fixtures, Sod, Sprinklers, Drip System, and some Windows. Come see this Gorgeous Belmont Heights Home!!!
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