tag:blogger.com,1999:blog-8016762947232780912012-02-16T01:06:48.079-08:00If you have been experiencing hardship for some time or if you are late on mortgage payments or have received a notice of default or property auction, it is important to understand what your options are immediately. We helps homeowners in hardship that may be facing default, foreclosure or bankruptcy.SF Bay Area Short Salenoreply@blogger.comBlogger71100tag:blogger.com,1999:blog-801676294723278091.post-36623711071085616082010-03-29T09:07:00.000-07:002010-03-29T09:07:39.965-07:00As we had mentioned in previous posts, California still has not passed the new bill to exempt cancelled debt just as the Feds. You may want to file a tax extension if you want to avoid additional penalties.<br /><br /><a href="http://www.mercurynews.com/top-stories/ci_14766648?nclick_check=1">See more at San Jose Mercury News article</a><br /><br /><div class="separator" style="clear: both; text-align: left;"><a href="http://extras.mnginteractive.com/live/media/site568/2010/0329/20100329_080046_0329100XA010_400.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="320" src="http://extras.mnginteractive.com/live/media/site568/2010/0329/20100329_080046_0329100XA010_400.jpg" width="200" /></a></div><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-3662371107108561608?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-10162288332667924522010-03-26T13:07:00.000-07:002010-03-26T13:07:58.215-07:00On March 26, 2010, the Administration announced several enhancements to the existing Making Home Affordable Program (MHA) and the Federal Housing Administration (FHA) refinance program that will give a greater number of responsible borrowers an opportunity to remain in their homes and reduce costly foreclosures. The changes will improve the effectiveness of the existing MHA program by providing temporary assistance for unemployed homeowners while they search for re-employment, providing servicers and lenders more flexibility to reduce mortgage principal for underwater borrowers, increasing incentive to servicers to participate in MHA, facilitating transitions to more sustainable housing for borrowers who do not succeed within the HAMP program, and expanding opportunities to refinance into affordable FHA loans for underwater borrowers.<br /><br /><a href="http://www.financialstability.gov/latest/pr_03262010.html">Full details here...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-1016228833266792452?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-4298053246215917012010-03-24T11:57:00.000-07:002010-03-24T11:57:09.573-07:00The share of home purchase transactions involving distressed properties surged to almost half in February, according to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions.<br /><br /><a href="http://www.dsnews.com/articles/nearly-half-of-home-purchases-are-distressed-properties-survey-2010-03-22">Read full story here...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-429805324621591701?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-76058603269057045762010-03-22T08:11:00.000-07:002010-03-22T08:11:52.201-07:00Feel like you are SINKING? You are not ALONE!! <br /><br />1 out of every 3 California homeowners owe more than the value of their home. Know your options! Know what is right for you and your family. <br /><br />March 25, 2010 (Thursday) <br />Time: 6:00 p.m. to 7:30 p.m. <br /><br />San Mateo Library <br />Oak Meeting Room <br />55 West 3rd Avenue <br />San Mateo, CA 94402 <br /><br />Space is Limited! <br />R.S.V.P. Required <br />Call: 650.227.1018 or Email: admin@bankerspref.com <br /><br />What are your options? <br />Refi, Defi, or Modify? <br />What are the tax ramifications? <br />Is foreclosure/bankruptcy better than short-sale? <br />Is there light at the end of the tunnel? <br /><br />Come find the answers from a panel of experts: <br /><br />Arton Chau <br />President of Distressed Home Solutions <br />Expert in handling short-sale negotiations <br />www.distressedhomesolutions.org <br /><br />Fredrick A. Thompson <br />Certified Public Accountant since 1977 <br />Specializes in tax planning and preparations <br />www.fthompsoncpa.com <br /><br />Caelo T. Marroquin <br />Loan modification & bankruptcy attorney <br />Specializes in Chapter 7 and 13 bankruptcy <br />www.caelolaw.com <br /><br /><a href="http://bit.ly/acsp1a">Download flyer here...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-7605860326905704576?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-64478889100370723672010-03-18T08:17:00.000-07:002010-03-18T08:22:28.182-07:00As we have written in many of our articles on the web site, the second wave of foreclosure homeowners are choosing to strategically default on their mortgages. But a majority of homeowners are doing it WRONG and not taking advantage of other <a href="http://www.distressedhomesolutions.org/shortsale-resources.php">options to foreclosure</a> like short sales. See the impact on a foreclosure on your <a href="http://www.distressedhomesolutions.org/foreclosure-fico-score.php">credit score</a>.<br /><br />Strategic defaults accounted for about 35% of defaults by U.S. homeowners in December 2009.<br /><br /><a href="http://www.latimes.com/business/la-fi-walkaway17-2010mar17,0,2297178.story">Read full article here at Los Angeles Times...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-6447888910037072367?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-87250596486124193002010-03-16T10:04:00.000-07:002010-03-16T10:06:44.959-07:00On December 16, 2009, HUD released a Mortgagee Letter (09-52) to lenders and underwriters regarding borrower eligibility for a new FHA mortgage after pursuing a short sale (when a previously owned property is sold for less than what is owed) or a short payoff, when there is a principal write down of indebtedness that cannot be refinanced into a new mortgage.<br /><br /><a href="http://www.distressedhomesolutions.org/shortsale-buyfha.php">Read our featured article here...</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-8725059648612419300?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0tag:blogger.com,1999:blog-801676294723278091.post-82047974979228896782010-03-16T09:35:00.000-07:002010-03-16T10:03:17.751-07:00California residents who sell their homes in short sales would avoid a tax bite IF Governor Arnold Schwarzenegger signs the bill.<br /><br />California legislators last week passed a bill that would fix the situation. It mirrors a federal law that excludes "forgiven debt" on a principal residence from being considered taxable income. It covers short sales, foreclosures, deeds in lieu of foreclosure and loan modifications that reduce the principal due.<br /><br /><a href="http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/03/14/MNO21CEDUK.DTL">Read SF Chronicle full story here..</a><div class="blogger-post-footer"><img width='1' height='1' src='https://blogger.googleusercontent.com/tracker/801676294723278091-8204797497922889678?l=sfbayareashortsale.blogspot.com' alt='' /></div>SF Bay Area Short Salenoreply@blogger.com0