Baldwin Park, CA

DOES NACA ACTUALLY HELP HOMEOWNERS MODIFY THEIR LOAN OR IS IT A SCAM?

NACA, otherwise known as Neighborhood Assistance Corporation of America, is a non-profit organization serving to help homeowners keep their home by assistance them with modifying their mortgage loans. Established in 1988, they do workshop tours throughout the country to educate and work with homeowners to lower their monthly payments. They claimed to have assisted thousands of homeowners lower their monthly payments over $1000 per month. NACA's Save the Dream Tour has attracted thousands of homeowners who flocked out to their conventions. Their services are 'free'. I say that loosely because I heard that they charge a $20 membership fee plus $50 per month while they work with the loan file.

Below is a list of upcoming venues where the Save the Dream Tour is being held.

Los Angeles, CA Jan 20-30 L.A. Sports Arena

Phoenix, AZ Feb 3-7 Phoenix Convention Center

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I have spoken with several people and read reviews on-line where there are mixed feelings about NACA. There have been some positive results while there are many negative feedbacks. One of the reasons for the low rating is due to the extremely long delays and very difficult to contact the counselors at NACA. Some people have recommended that it would be best for homeowners to handle the loan modification file themselves and work directly with the bank.

NACA counselors are just the middle person and due to their overwhelming responses may not be as proficient in handling your case. The many excuses heard online and throughout is that the counselors do not stay on top of the case as diligently as possible and thus can result in homeowners losing their home due to foreclosure. This lack of response is one of the major drawbacks. However, there are cases where homeowners were able to get their loans modified down to 3% interest rate.

Due to the high turn out at these events, many homeowners who 'hope' to get their file review must wait in long lines early in the morning. By long lines, I heard that it can day an entire day to get through. It would be beneficial for those seeking help if the outcome would be a success. There is no guarantee that would occur but it may be worth the trial to test it out...or is it a waste of time?

Anyone know or has had any experience with NACA? What is your take on this program?

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For FORECLOSURE Prevention & all your Real Estate Services,

Contact:

DAVID DEE
(626) 203-5676

"Client 1st. That's the David Dee Guarantee."

Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and

(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.

Copyright © 2011 by DAVID DEE. All Rights Reserved. "DOES NACA ACTUALLY HELP HOMEOWNERS MODIFY THEIR LOAN OR IS IT A SCAM?

Buyer asked "Is that what you recommended? Then I need to ask another Realtor"

I was working with a buyer to help them find a home. We submitted the offer to the bank and waited for the response from the bank since it was a short sale. The bank did an appraisal and the value came back 50k higher than our submitted offer. I suggested to the buyer that if they really like the house to at least meet the bank half way and maybe we can make the deal work.

The buyer asked me a second time if that is the best that I can recommend. I informed the buyer that based on the Market Value of the property the appraisal value is about right for the area. Our only hope was to counter back a little higher and see what the bank can do. The buyer then informed me that if that is my recommendation, then he would have to consult another realtor to see if that would make sense. I was taken aback at his response but told him to proceed with asking another realtor for an opinion if that would make him more comfortable.

Buyer, after consulting with another realtor, came up 5k from the original offer which I highly doubted that it would be acceptable. In the meanwhile, another offer came up substantially higher according to the listing agent. I informed that listing agent that I will run it by the buyer to see if they are willing to go up any higher. After much thinking, the buyer held steadfast like a toy soldier and was unwilling to go up any higher than their 2nd offer of 5k higher.

Next day, buyer called to inform me that they are willing to go up higher. I called the listing agent to inform him of the change of mind. Unfortunately, the seller had signed the acceptance on the other competing offer and offer already submitted to the bank. Buyer is now kicking themselves for being so stubborn and now lost a home that could have been their dream home.

I do this Full Time and I know what the market bears and if a buyer prefers to get a second opinion there is no stopping him/her from doing so. I feel bad for the buyer because now they have to start back at square one. We may find a substitute but the time loss can have some effect on their payments as interest rates have risen since then.

Moral of the story: act fast; wavering can lead to unsavory regrets.

*********************************************************************************************

For FORECLOSURE Prevention & all your Real Estate Services,

Contact:

DAVID DEE
(626) 203-5676

"Client 1st. That's the David Dee Guarantee."

Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and

(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.

Copyright © 2010 by DAVID DEE. All Rights Reserved. "Buyer asked "Is that what you recommended? Then I need to ask another Realtor"

Don't kill the market. Be more realistic with listing short sale folks.

While searching through some listings on the MLS, I noticed that several of the short sale listings were priced extremely low. It just does not make any sense. I understand that they may be short sale but let's not give consumers the false sense that prices have plummetted by 80%! Yes, listing the price really low will drive up the asking price but let's do a little more homework if one is a listing agent. If homes are priced this low, why not go all the way and just priced it at $1! I find this to be rather ludicrous. It is not even Black Friday and the specials have begun months in advance.

My recommendation is if one is that lazy that they do not make an effort to do a quick cma to find out the approximate market value of the home, don't bother listing it. It is a disservice to the community and to the profession. Moreover, what will the bank think if they see the listing price and discover that the offers coming in are over 40-50% above the asking price? No, the bank will not think the listing agent is a genius and should be hired for all their short sale listings. Rather, they bank will assume that the market is good and may want an even higher price. This may eventually end up killing the deal is the buyer do not want to go up any higher.

Again, do everyone a favor and perform a simple cma before listing the property. It is not only the right thing to do but the professional thing to do.

*********************************************************************************************

For FORECLOSURE Prevention & all your Real Estate Services,

Contact:

DAVID DEE
(626) 203-5676

"Client 1st. That's the David Dee Guarantee."

Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and

(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.

Copyright © 2010 by DAVID DEE. All Rights Reserved. "Don't kill the market. Be more realistic with listing short sale folks."

Baldwin Park CA Bank Owned Homes for Sale

Below is a list of some great bargains in the Baldwin Park CA areas.

These 3 bank owned homes have alot of potential.

Home #1

4 bed/2 bath

built 1956

1469 sqft

Priced at $250,000

Home #2

3 bed/ 2 bath

Built 1952

1122 sft

Price at $299,000

Home #3

3 bed/ 1 bath

Built 1950

1824 sft

Priced at $319,000

*********************************************************************************************

For FORECLOSURE Prevention & all your Real Estate Services,

Contact:

DAVID DEE
(626) 203-5676

"Client 1st. That's the David Dee Guarantee."

Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and

(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.

Copyright © 2010 by DAVID DEE. All Rights Reserved. "Baldwin Park CA Bank Owned Homes for Sale"

Baldwin Park CA home for sale - not bank owned or short sale - $286,000

Property Type:	Single Family Residence/A
Bedrooms:	3
Bath(F,T,H,Q):	2,0,0,0
Sqft:	1,254
Sqft Lot:	6,006

Just remodeled like new! This 3 bedroom 2 bath home is located in the northern part of Baldwin Park CA.

Laminate flooring

Upgraded kitchen counters and flooring

Mirrored closet doors

Upgraded fireplace and mantel

Just great for a 1st time buyer!

Turnkey and move in ready!

Call me for more information and showing for these great deals.

*********************************************************************************************

For FORECLOSURE Prevention & all your Real Estate Services,

Contact:

DAVID DEE
(626) 203-5676

"Client 1st. That's the David Dee Guarantee."

Specializing in: (SAN GABRIEL VALLEY) San Gabriel, Rosemead, Alhambra, Monterey Park, Arcadia, Temple City, El Monte, Hacienda Heights, Rowland Heights, Walnut, West Covina and

(N. ORANGE COUNTY) Anaheim, Buena Park, Westminster, Garden Grove, Fountain Valley and other surrounding areas.

Copyright © 2010 by DAVID DEE. All Rights Reserved. "Baldwin Park CA home for sale - not bank owned or short sale - $286,000"