Fannie Mae and Freddie Mac recently extended their foreclosure forbearance programs to give short-term aid to unemployed homeowners, but housing counselors warn that these borrowers will need to look at longer-term solutions.

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We all know they story of the boy who cried wolf—if you hear something over and over again, despite how important it might be, it loses its significance the more you hear it.
This has been the case with the mortgage and real estate markets.

Filed under: Existing Home Sales, LA Area, Mortgage Rates, News, Real Estate Market, VRN, West Hollywood | No Comments »

Recently enacted California legislation, CCP §580(e), was originally intended to put individual short sale sellers of 1-4 units, with regard to deficiency issues, in the same position as foreclosed individuals by prohibiting lenders in first position from seeking a deficiency after the short sale had closed. Even more recently the deficiency protection for borrowers in this section has been expanded to include junior lien holders.

While at first glance this revision appears to aid homeowners, it could mean that junior lienholders may no longer approve short sales.

Filed under: Foreclosure, LA Area, Real Estate Market, Selling, Short Sale, Tax Issues, VRN | No Comments »

In case you missed it, please read this 6/29/11 NYT’s article that shows consumer support for our government’s doing its damnest to protect and preserve the American Dream of Home Ownership. The article details polls taken on viewpoints on Home Ownership which is still regarded as better than renting due to the tax advantages of [...]

Filed under: Buying, Commentary, Current Events, Economy, Foreclosure, Jennifer Tan, Moving, News, Real Estate Market, Renting, Selling, Tax Issues, VRN | No Comments »

Truly an Extraordinary International Network of Affiliates and Referrals – I can place you practically anywhere.

Filed under: Buying, For Sale, For Sale Abroad, Listing Presentation, Luxury Properties, Real Estate Market, Selling, Technology, VRN | No Comments »

The results of RealtyTrac’s Q1 2011 U.S. Foreclosure Sales Report are taking up a lot of headlines across the web. The report, providing little encouraging news to a housing market desperate for a recovery, should however, open the eyes of some prospective homebuyers sitting on the sidelines.

Filed under: Buying, Economy, For Sale, Foreclosure, LA Area, Money-Saving, News, Real Estate Market, Short Sale, VRN | No Comments »

Despite continuing low mortgage rates, one prominent Detroit bankruptcy attorney says ARMs remain a looming danger and should be avoided.

Filed under: Finance, Loan modification, Money-Saving, Mortgage, News, Real Estate Market, Refinance, VRN | No Comments »

A chance to remodify your loan mod: If you were unsuccessful at modifying your home loan, perhaps this will sound familiar: while you were making your trial payments, your servicer simultaneously began the foreclosure process.

Due to the federal penalties against mortgage servicers and a recent court ruling in California, a new wrinkle to the foreclosure prevention effort has emerged. If you [...]

Filed under: Loan modification, Mortgage, News, Real Estate Market, Refinance, VRN | No Comments »