Dear Homeowners
This letter is let to you know that I appreciate your calls because it is
sign that you are searching and finding my name on the web, blogs and I know you can find me on ActiveRain. But because some of my callers are putting me in a bad place with trying to get me to tell you to stop paying your mortgage, go default and make other personal, professional and life altering decision for you and family ---> I have to draw the line.
I am just a real estate agent, not an attorney, tax consultant, IRS expert or adviser - therefore - I am not the best to ask. If you find that you are any of the listed below but not limited to:
The Department of Real Estate
Does not allow me the authority to tell you to go .... default, stop paying on your mortgage, put yourself in foreclosure (harms way)! I can't even tell you WHAT your hardship is or when it started or if you are still in it. Some decisions are better left unsaid by me.
This is your choice and it should be in accordance to your situation. Or you should call the right professional to match the situation.
Want to short sale your property and you are clean, upfront and in hardship? THERE.... you can call me for this!
The banks are going to get mad if they sense that you deliberately did not pay your mortgage -- believe me this will not be the last of that. So if someone tell you to go default... you should not listen in my opinion.
Now if situation puts you in a hardship that you cannot pay your mortgage... join the rest of the world. There are rules to giving short sale approvals and one that is still holding fast is that you need to show a hardship (and this has to be the truth), and yes there is one other that I know has not changed and that is you stand a better chance if this is your primary residence if you expect to be "forgiven". But don't ask me how it works because that is between you and your tax adviser or the IRS. I am not a professional in those areas.
I know my place and do not intend on getting out of line! I am a real estate agent: I do have the authority to advise you regarding anything but real estate matters. No tax, no tax, no bankruptcy, no taxes... or did I say no taxes and sure I can not tell you to JUST DO IT and go default!
But please do not call me to hear me tell you to go default. I can't. Its not my business or place to give you that kind of advise.
Thank you!
Call us at 866-543-0461
CHECK OUR WEBSITE: http://www.motheranddaughterrealtyteam.com
Buyers, I know it is pretty confusing right now as to what programs, credits and assistance is available to you to help with your First TIme Home Purchase. One day you hear all down payment assistance is dead in the water, next you hear some are coming back ---> it is plain confusing to keep up with all the changes.
Remember CALHFA? 877-922-5432 CLICK HERE
Well it is still breathing and did receive funds to keep hope alive - thanks to Obama!
CALHFA also launched a new First Mortgage Program - CAL30
Reinstates CHPAP - down payment assistance program
I invite you to check out the CalHFA site and read all about how this program maybe able to help you with your First Time Home Buying. Also, ask your lender and be sure to get a lender that is up on all the programs out there so that you can get the best help.
In order to qualify for a CalHFA loan, certain requirements must be met. They are:
As I posted previously.... Buyer's now get a choice, thanks to Real Estate Settlement Procedures Act and AB 957 Buyer's Choice Act.
When you are purchasing foreclosed properties, you should be getting a form with the wording listed below or something similar. This should be signed along with the offer and presented to the bank for their signature.
This is not something the banks are all tickled about, but it is now the law. They are not suppose to hold buyer's choice of escrow against them when making a decision on the offer presented. It's the law!!! So if you do not get a notice that addresses this when you sign your offer --- ask your agent for it.
It should read something like this....
Notice to Buyer
Regarding Real Estate Settlement Procedures Act and AB 957
Buyer's Choice Act
Property Address: _____________
According the Real Estate Settlement Procedures Act (RESPA) and the Buyer's Choice Act (AB 957), a seller of residential real property improved by four or fewer dwelling units shall not require directly or indirectly, as a condition of selling the property, that title insurance covering the property or escrow services provided in connection with the sale of the property be purchased by the buyer from a particular title insurer or escrow agent. The law does not prohibit a buyer from agreeing to accept the services of a title insurer or an escrow agent recommended by a seller if written notice of the right to make an independent selection of those services is first provide by the seller to a buyer.
Prior to entering escrow, __________ (Bank Name) selected an escrow company and a tilte provider in order to generate a preliminary title report concerning the above-referenced property. Buyer is hereby informed that Buyer has the right to purchase the services of title and escrow providers of Buyer's choice. Bank is not mandating, either directly, or indirectly, that Buyer use Bank's title and escrow providers. Buyer is hereby informed that Bank escrow company other than those that Bank has recommended, Buyer shall informat the listing agent of Buyer's choice of providers. If Buyer selects different providers other than those that Bank has recommended, this will not affect the Bank's decision to sell the property to a particular buyer.
By signing below, Buyer acknowledges receipt of this Notice and Buyer's right to make an independent selection of title and escrow service providers.
and there is a place for both buyer, seller, listing and selling agent to sign and date.
DO NOT FORGET TO ASK YOUR AGENT FOR THIS FORM IF YOU DO NOT GET IT WITH EACH OFFER YOU SUBMIT. Most listing agents will have this form attached to the MLS listing for your agent to download it and have you sign it right along with your offer.
This does not affect short sales because of now, buyers have this choice already.
Call us at 866-543-0461
Given the market condition, the competition it is really hard on buyers these days to view, make an offer and get the property of their dreams. Most buyers seem to be out there just making bids - to get something. Owner occupied buyers should not be just making bids on any old property. They should be able to view that property and see that it is "the one" for them. They should be able to bring their list of wants, needs, can't do withouts and can/will do withouts and decide oh I love it or Naw this one is not for me. Next!
Is this a deal or are you bidding in order to get something, anything? Are you bidding to out-bid the next buyer or are you bidding because you feel it is a deal that you cannot pass up and this property is really worth what I am willing to pay ---> not I am willing to pay whatever!
Do you consider:
Condition of the neighborhood - do you see pride of ownership in the neighborhood or do you see red flags all over the neighborhood. Did you see a Neighborhood Watch sign anywhere or do you feel this neighorhood is safe enough? Did you have time to check the crime rate?
Also, make sure you are not just making an offer and really and simply do not like the house??
There are alot of foreclosures and short sales out there but please take your time and get something you will be proud to call it home.
Call us at 866-543-0461
While there is the FHA 203K streamline renovation loan that works great - if the property is a Fannie Mae property the better renovation loan for FM properties is a HomePath Renovation Loan.
HomePath Renovation Loan: This type of renovation loan is only for properties that are owned by Fannie Mae. Some of the other considerations:
Low down payment and flexible mortgage terms (fixed or adjustable rates). Down Payment (at least 3%) can be from:
HomeStyle Renovation Loan: This type of loan is set up for investors
Go to this link to check to see if the property qualifies for HomePath Renovation Loan: www.HomePath.com
These types of loan works best on properties that are not Fannie Mae owned
FHA 203k Streamline Renovation loan: Click for 203k Streamline Information.
Wells Fargo - Purchase & Renovate Loan:
If you don't have the cash for the down payment, closing costs, and the necessary renovations, then Wells Fargo Home Mortgage may have a solution for you. The Purchase & Renovate loan finances both the purchase of your home and the renovations you need simultaneously.
Wells Fargo - Finance & Renovate Loan:
With the Refinance & Renovate loan, you don't need to have a lot of equity built-up, because the amount you can borrow is based on the increased value of the home after improvements are made. Also, the Refinance & Renovate loan usually offers a lower monthly payment than the combined interest of getting two separate loans.
Check with your lender and see where you fit, what you can get if that property is in need of some work or TLC
Call us at 866-543-0461
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Realtor - Patrick Williams & Assoc /Mother & Daughter Team -Focus: Buyers, Sellers, New, Resale, Short Sales, REOs, Relo. Call: 866-750-8282/Text @: 209-627-9119. www.motheranddaughterrealtyteam.com
- Real Estate Agent (work with my daughter as the Mother and Daughter Team)
- pre-foreclosure - FREE Guide
- Short Sales
- REOs
- Property Management
Visit our site: http://www.motheranddaughterrealty.com. I started my real estate career in 2002 working in the new homes community. Now I am in resale and financing. I am motivated, eagered and focused at helping as many clients reach their goal of homeownership, with the least amount of stress. I put my clients as a priority. I have an abundance of faith that by putting God first in my life, hard work and a good spirit, I will be able to successfully help my clients.
I work along side my daugher (D'Adrea Davie)as a Mother and Daughter Realty Team. We are Real Estate Agents at Family Realty Group. We are committed to working together effectively. We are excited to be amongst a group of distinguished Real Estate Professionals who are all apart of the most sophisticated and technologically advanced marketing firm in the Real Estate industry.
As a pair, we consistently approach every transaction as though we are the clients. We understand that whether it is a sell, a purchase or financing for residential or commercial property, it is an emotional and potentially stressful situation. We are committed to alleviating the pressure from our clients through efficient communication and excellent customer relations.
Give us a call for all your Real Estate needs. 866-750-8282
Our focus is on giving our customers excellent service, no matter if it a listing or sell for high end homes or mid stream homes. We list, sell and offer financing. We have an excellent working market plan that we go over with our clients and we work until for success. Family Realty Group is a great company to work with and represent excellent customer care.
We are focusing on Resale, new and Default properties - offering FREE Consulting to help owners negotiate with their lenders first. Once the clients have explored all their options and decide that a short sale is the way to go, we offer our services. Of course we hope that they have enough equity to do a regular sale, if they are unable to catch up their present mortgage.
Visit Rosemary's Website: Rosemary's FaceBook
Thank you so much for helping us find our dream home. What we liked most about your service is that you did not give up on us and you delivered what you promised. We will refer you to our friends and we will definitely call on you when we get ready to upgrade to a larger home. Thank you, thank you! The Alas Family
"Rosemary, I appreciate your professional approach to my questions and I really count on you for your knowledge and immediate response. Keep uo the good work, from now on you will be my realtor and I will refer you to my family and friends. Good luck in your business!" Ms. Phelan
Although our offer was not affected for the short sale, we appreciate you and your professional manner. If we ever need a realtor, we will give you a call. Thanks for your help. J & N Phillips
Rosemary and D'Adrea - We thank you very much for the compassion you showed us. Eventhough we were not looking to sell our home, you helped us negotiate with our lender and for that there is no words to say thank you enough. We appreciate you and will definitely tell our family, friends and associates about your services. You're doing a fine job. Thank you very much. Maria Lopez
Visit our site: http://www.motheranddaughterrealtyteam.com.
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