| The question on many homeowners minds is how the government plans to help distressed homeowners and the economy. In November 2008 Fannie Mae told its loan servicing organizations to suspend foreclosure sales on occupied single-family properties. Additionally, the loan servicing organizations are to suspend the completion of evictions from occupied single-family properties scheduled to occur from November 26, 2008 until January 9, 2009. This temporary suspension was designed to hopefully circumvent many foreclosures faced by many borrowers while Fannie Mae works with mortgage servicers to implement the streamlined modification program scheduled to launch December 15. During this time, loan servicers would attempt to pursue workout options with borrowers. As a Real Estate professional who works in conjunction with loan servicers to make these workout available to borrowers, I can attest to the fact that servicers such as Countrywide, J.P. Morgan Chase, etc. are attempting to reach out. What I have encountered when speaking to these borrowers oft times is a sense of discouragement and feelings of abandonment. Many times these borrowers in previous months have attempted to talk to their loan servicers to no avail. It becomes difficult to convince these borrowers that the servicers now wishes to help via a workout option.  I have helped several people either pursue successful workouts or complete successful short sales when they can not afford to stay in the home any longer. There are solutions available. I am hopeful that the attempts of loan servicers to provide borrowers with options will continue while we sort out this housing fiasco. Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.  |
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Well maybe you can get away with this on a bicycle, but beginning January 1, 2009, Senate Bill 1613 states that a person driving a motor vehicle is prohibited from writing, sending, or reading a text message, instant message, or e-mail from an electronic wireless communication device. A violation of this law is an infraction punishable by a base fine of $20 for the first offense and $50 for each subsequent offense.
Now that so many of us can't live without our Blackberry, Treos, etc. whatever will we do now that we can't text while driving? Perhaps the roads will be a little safer now.
Beginning July 1, 2010, U.S. regulators have approved new rules to curb "unfair" credit card practices such as surprise fees and interest rate hikes, but activists and lawmakers said the rules do not go far enough and will not help consumers now. The new rules will prohibit raising the annual percentage rate (APR) on existing balances except under certain circumstances, and give consumers 45 days notice before a rate increase and 21 days to pay.
A practice known as universal default, in which card terms are changed based on how the holder performs on other bills, such as utilities or gym memberships will also be prohibited.
The new law is great for consumers but the downside is that these protections will not come into effect for another year and a half. So for now consumers who miss a payment or fall into trouble with credit debt may be looking at substantially higher interest rates that will make it virtually impossible to pay off credit debt if only the mimimum is paid monthly.
Keisha Hosea is a local Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.
This past week, rates on 30-year-fixed mortgages dropped this week to their lowest levels in at least 37 years. The Federal Reserve has promised to make money available to the mortgage market in an attempt to stimulate the U.S. housing market. Freddie Mac's average rates on 30-year fixed-rate mortgages dropped to 5.19 percent, down from the year's previous low of 5.47 percent, set last week.This is the lowest since Freddie Mac's weekly mortgage rate survey began in April 1971. This is great for homeowners looking to move out of adjustable-rate mortgages.For those that are looking for some relief carpe diem (seize the day!) Keisha Hosea is a local Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time. You may call her direct at (909) 261-6377 for further questions on this information or any other real estate advice.
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As a full-time Realtor it is my joy to help home sellers and home buyers throughout Chino Hills, Diamond Bar and the Inland Empire in Southern California achieve their Real Estate goals.
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