Category Archives: Foreclosure

One Cool Thing — The Value of Experience

valueofexperience_6-17-2013

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Are You Eligible for a Home Affordable Refinance?

Are you having trouble paying your mortgage?

Has your world fallen down around you?

Do you think you need to do a short sale?

Is the bank ready to foreclose on your home?

Are you eligible for a Home Affordable Refinance to take advantage of lower interest rates?

Is a bankruptcy the only way out of your dilemma?

Don’t give up yet. Get the information you need to mover forward and get appropriate professional advise.

The first step is to find out who owns your loan.

You will one step closer to the possibility of a refinance that will allow you to stay in your home.

You can find out if Fannie Mae or Freddie Mac owns your loan directly by clicking on the links below.

fm-logo

1-800-7FANNIE (8am to 8pm EST)

www.knowyouroptions.com/loanlookup
freddiemac-logo

1-800-FREDDIE (8am to 8pm EST)

www.freddiemac.com/mymortgage

After finding out whether your mortgage is owned by Fannie Mae or Freddie Mac, see if you may be eligible for a Home Affordable Refinance by clicking on this link. Find out if you may be eligible

If you are not eligible for a refinance or you believe your hardship is too great to overcome unless you get out of your home, what should you do?

Always remember!!!  Don’t ask your real estate agent if you should do a foreclosure or a short sale. A real estate agent can help you sell your home, but only if it is the right thing to do.

If your real estate agent tells you that doing a short sale is the right thing to do, you need to find a new real estate agent. Real estate agents cannot give financial or legal advise.

Ask a real estate attorney and a CPA what would be best for you. Only after you have the appropriate legal and financial advise, and your advisors tell you that the best thing you can do is to do a short sale, should you talk with your real estate agent about doing a short sale.

If you need a referral to a real estate attorney, send me an email and I will send you the information you need.

If you need a real estate agent with integrity, give me a call. I won’t help you with a short sale unless you have obtained legal and financial advise. As far as I am concerned, it is all about you and what is best for you.

Jack A Edwards, Realtor
CA DRE#01331087
916-240-9302

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!

Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

One Cool Thing — Top Ten Signs That You Are Being Scammed


Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Lender Must Provide Summary for Foreclosure Notices

Summary provided by California Association of Realtors:

A lender must provide a borrower with a specified summary of information attached to a copy of a notice of default and notice of sale for any property containing one-to-four residential units.

The summary must be in English, Spanish, Chinese, Tagalog, Vietnamese, and Korean.

The beginning of the notice of default and notice of sale must also state in these 6 languages that the summary is attached.

The attached summary does not need to be recorded or published.

The Department of Corporation (DOC) must provide a standard translation of the statement free-of-charge on its website at www.corp.ca.gov.

This requirement takes effect on April 1, 2013 or 90 days after the DOC issues the summary translations, whichever is later.

Under existing foreclosure procedures, notices of default and notices of sale must be mailed to borrowers by registered or certified mail as specified. Assembly Bill 1599.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com

 

Tenant Entitled to a 90-Day Notice to Terminate After Foreclosure

Summary provided by California Association of Realtors:

Effective January 1, 2013, a month-to-month tenant in possession of a rental housing unit at the time the property is foreclosed must be given a 90-day written notice to terminate under California law.

For a fixed-term residential lease, the tenant can generally remain until the end of the lease term, and all rights and obligations under the lease shall survive foreclosure, including the tenant’s obligation to pay rent.

However, the landlord can give a 90-day written notice to terminate a fixed-term lease after foreclosure under any of the following four circumstances:

(1) the purchaser or successor-in-interest will occupy the property as a primary residence;

(2) the tenant is the borrower or the borrower’s child, spouse, or parent;

(3) the lease was not the result of an arms’ length transaction; or

(4) the lease requires rent that is substantially below fair market rent (except if under rent control or government subsidy).

The purchaser or successor-in-interest bears the burden of proving that one of the four exceptions has been met.

This law does not apply if a borrower stays in the property as a tenant, subtenant, or occupant, or if the property is subject to just cause rent control.

This law will expire on December 31, 2019. This new California law is similar, but not identical, to the 90-day termination notice requirement under the federal Protecting Tenants at Foreclosure Act (12 U.S.C. § 5201, et seq.) (as extended by the Dodd-Frank Wall Street Reform and Consumer Protection Act), which is set to expire on December 31, 2014. Assembly Bill 2610.

Start building your memories,
as you turn your house into a home. 

As you might guess, this document is a compilation of information from our own efforts as REALTORS, as well as input from other REALTORS in our Coldwell Banker office.  I hope it has been of value to you.  Don’t hesitate to email us with any suggestions that will make this document better for you and your fellow homeowners!
Be sure to follow us on Facebook at www.Facebook.com/ElkGroveRealEstate.  For information about properties available for sale and for more information for buyers and sellers, please visit our website at www.ElkGroveRealEstate.com and don’t hesitate to give us a call or drop us an email with your questions.

WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete blurb with it: Jack & Tracey Edwards, your real estate advocates, specialize in helping buyers and sellers in Elk Grove, CA,  and the greater Sacramento area.   Get information about available homes online at:  www.ElkGroveRealEstate.comOur mobile clients can find us at Mobile.ElkGroveRealEstate.com