Best Side Of The West Side

U.S. home owners are refinancing their mortgages at the fastest clip since 2005, but the difference now is they are putting cash in, not taking it out. At the going rate, 25 percent of all first-lien U.S. mortgages will be refinanced this year, according to LPS Applied Analytics. That represents about $7.1 billion —just through [...]

Governor Edmund G. Brown Jr. just endorsed the California Homeowner Bill of Rights, which is intended to stop loan servicers from using dirty tricks and to help protect struggling homeowners who are trying to renegotiate their mortgages. This new decree and its four main components make California the first state in the nation to take [...]

Occasionally, a lender may partially waive a borrower’s debt. The common tax rule is that the sum of the debt forgiven is to be considered as taxable income to the borrower. Of course, there are exceptions to this rule; although, the borrower is still required to pay some sort of tax on the forgiven debt. [...]

The two main questions a lender asks itself when reviewing a short sale packet are: 1) Is this property going to go into foreclosure? 2) If this property goes into foreclosure, will we lose less money by approving a short sale? Even if the hardship does not meet the criteria of a true hardship entirely, [...]

Major news in the short sale and housing industry! Just this past March 9, 2012, the Obama Administration revealed recent updates to the Home Affordable Foreclosure Alternative (HAFA) program. Started in 2009, HAFA is a government-sponsored project supporting all Home Affordable Modification Program (HAMP) eligible homeowners in avoiding foreclosure through short sales and deeds-in-lieu of [...]

Know The Pros and Cons of Your Options to Foreclosure. There several alternatives to be had for local residents facing foreclosure. Listed below is a concise review of some of them. There may be other options available for you. Your avoid foreclosure choices may include: Solutions If You Want To Keep Your Home Bring your [...]

Why Some Short Sales Never Sell A lot of short sale sellers realize that it is not easy to sell a home as a short sale – sometimes a little too late. Short selling a home is a complicated process, and if not carried out correctly, may not go as planned and / or can [...]

Today I wanted to talk to you about bankruptcy. I have met with homeowners in the past, who were struggling with their mortgage payments, and have considered filing for bankruptcy in order to avoid the foreclosure process. Even if this may be the best option for your current financial situation, I suggest that you meet [...]