Five years into the foreclosure crisis, we may have another five years to go. Economists and recent studies indicate that, though the housing market appears to be recovering, the climb out will be gradual. “We are five years through a 10-year adjustment process,” Doug Duncan, chief economist for
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12/19/2011
The clock is ticking for distressed homeowners still struggling under the weight of their upside-down homes. The federal Mortgage Forgiveness Debt Relief Act of 2007, which allows some who lost a home in a foreclosure or took advantage of a short sale or loan modification to shed debt without pay
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12/11/2011
After weeks of anticipation, homeowners can begin applying for a newly expanded loan program that allows some upside-down homeowners to refinance at today’s best mortgage rates. Fannie Mae and Freddie Mac on Nov. 15 released expanded guidelines for the Home Affordable Refinance Program, which app
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11/29/2011
The Keep Your Home California program, which can provide cash assistance or even reduce mortgage principal for distressed homeowners, has relaxed eligibility requirements. The program – which oversees the Unemployment Mortgage Assistance, Mortgage Reinstatement Assistance, Principal Reduction, an
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11/20/2011
Banks appear to be in more of a giving mood these days. At least when it comes to short sales. With the number of underwater homes at crisis levels, more and more banks are embracing the “relocation incentive” to help distressed homeowners sell their properties and avoid foreclosure. Though not a
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11/12/2011
Do you qualify for the updated home refinance program announced this week by President Obama? The Home Affordable Refinance Program is aimed at helping homeowners take advantage of today’s historically low interest rates, even if they are upside-down on their current mortgage. President Obama thi
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10/30/2011
Every buyer wants a good deal on a home. But few really know how to get one. Today’s market is dominated by short sales and foreclosures. In California, more than one-third are short sales. And they represent the best opportunity for a buyer to get the best deal. Yes, that’s right … short sales
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10/28/2011
Despite what you may have heard from your neighbors, your family, your bank, … you CAN do a short sale on your home if you are current on your mortgage. Under the right circumstances. One of our clients recently completed a short sale even though they hadn’t missed a payment. Their job relocation
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10/11/2011
Tom & Sally B. of Riverside, Calif., struggled for more than a year when their adjustable-rate mortgage payment shot through the roof. The bank wouldn’t help them with a loan modification, and they were nearing the end of their savings. That’s when they turned to us for help. Less than 60 days la
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09/01/2011
After two long years, my wife Alisa and I finally jumped back into our favorite hobby -- scuba diving. We were so excited last week as we rode the Express to the friendly town of Catalina, our home away from home. But I didn't realize I was going to get a life lesson during our trip. Why so long
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08/31/2011
