Alternatives to Foreclosure in the Los Angeles Area

If you or someone you know in the Los Angeles area is having a difficult time with their home mortgage payments, it is especially important to know what the alternatives to foreclosure might be. Two of the most talked about alternatives are Loan Modification and Short Sale.

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Los Angeles, CA - Chase to buy Bank of America!!!!

 

After some digging in I've been told by an Attorney who's one of several attorney's working on the buy out/merger of Bank of America with Chase! What I've been told is that out Federal Government has been strategically planning on having Chase buy Bank of America for years now! It's finally coming to life..! I've been waiting off on putting this out…

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FHA has specific rules when it comes to purchasing a home that is in Pre-Foreclosure with a FHA mortgage on it.  FHA doesn’t make mortgage loans, they Insure them – and so as the Insuring Agency (kinda’ like a PMI company) they get to set the rules!  In those…

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Hi, there are 3 deals that are ready to close, but the 2nd's are asking for 50% of the loan balance, and I just do not know what to do:

 

1) Realtime Resolutions: they have a balance of 140K, and are asking for 80,000 as a payoff. The 1st (B of A) has allotted them $6,000.

 

ANY ADVICE ON WHAT TO DO?

 

2) Strategic Recovery Group: they have a balance of 120K, and are asking for a $60,000 payoff.

 

3) Indymac: They are doing a BPO (Why…

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Los Angeles, CA – Just in, Governor Brown, signed into law today, SB458. This law will be written in the California Civil Code Procedures under CA CCP Section 580(e).

 

Get my Free, Step By Step Loan Modification Guide by clicking here.

 

What this law states is that if a homeowner does a short sale, where…

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Los Angeles CA – I recently received an e-mail from another real estate agent. They were asking for our advice on a short sale.

They accused a large, national lender (one of the 4 largest in America) of lying to Fannie Mae. Fannie Mae is almost a subsidiary of the Federal Government

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Los Angeles California Real Estate | Short Sale Specialist | Short Sales in Los Angeles | Short Sale Los Angeles| Los Angeles Loan Modification:

 

I have a Realtor friend that works out of Pasadena California that recently was fired by her seller because of this letter. Chase told the…

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Los Angeles Short Sale Specialist | Los Angeles Short Sale | When to short sale in Los Angeles | Los Angeles Short Sale Taxes | Why Short Sale in Los Angeles | Los Angeles Short Sale Requirements | Los Angeles Short Sale Guidelines | How does short sale work in Los Angeles | Los Angeles Mortgage Short Sale

 

 

Los Angeles CA –Wall Street Fat Cats say…

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Los Angeles Short Sale Specialist | Los Angeles Short Sale | When to short sale in Los Angeles | Los Angeles Short Sale Taxes | Why Short Sale in Los Angeles | Los Angeles Short Sale Requirements | Los Angeles Short Sale Guidelines | How does short sale work in Los Angeles | Los Angeles Mortgage Short Sale

 

Helping Homeowners…

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Helping Homeowners avoid foreclosure! I provided FREE California Loan Modification Help and Short Sale Assistance for distressed homeowners!

 

Los Angeles, CA – I’ve seen lots of creditors/collection company's use illegal debt collection techniques and…

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Glendale, CA Real Estate – I see a lot of agents making mistakes on short sales property valuation. Lenders hire a supposedly impartial third party to value the property.

 

Many of these people are…

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Today, the Big 5 in mortgage servicing are meeting in Washington to discuss alternatives to foreclosure. One of the controversial options under consideration is requiring banks to facilitate the short sale process.

Bank of America, JPMorgan Chase, Wells Fargo, Citigroup and Ally Financial will get together to try to pound out a settlement that could range from $5 billion to $25 billion. The settlement revolves around federal and state investigations into shoddy or fraudulent foreclosure… Continue

 

Glendale, CA Real Estate – I recently received a short sale question from a client of mine, Julia. Here’s Julia’s question.

 

“We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% “processing fee” that ONLY the buyer can pay at…

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Los Angeles, CA – Sometimes it seems like short sales are tough. “Don’t try to short sale your house. Short Sales never go thru”, people tell…

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Los Angeles Short Sales – I have a good story today about another bank…

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Glendale, CA Real Estate – Glendale CA – Here is a question that I just recieved. “I am in the middle of a very long negotiation with…

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Glendale, California Real Estate | Short Sale Specialist | Short Sales | California Free Loan Modifications – People often wonder why their lender will release their debt in a short sale. Most lenders don’t like to release the debt. But, they agree to do it because they know that policy nets them more money.

 

They net more because a home usually sells for more money as a short sale versus after it has been foreclosed upon. Let’s go thru a few examples.

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I locked in a loan at 4% over 30yrs. Price of the home  was240,000. the 1st  apprisal came back at something. when I called to check on this appraisal the secertary told me that the appraisal was marked complete in the computer but she could not open it. then the loan office got on the phone and said the appraisal was marked incomplete and they were ordering another one. I spoke with the appraiser and she said the appraisal was fine and she was paid for it no question. when  the second…

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