Working Short Sales And Foreclosure Timeframes—Important To Understand

Posted: 3rd May 2012 by Lee Cravens in Foreclosure, Short Sales
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So you are doing a short sale and you have received a Notice of Default or maybe even a Notice of Trustee Sale.  You panic, and start looking for a moving truck.  Sound familiar?  Well that is how homeowners feel and it is important for us as default advocates to put their minds at ease before they get these notices.

I always go over the timelines of a foreclosure before I ever sign the short sale listing agreement when doing a short sale for a distressed homeowner.  However they always seem to think these dates are cast in stone.  They are not so I am going to go over it one more time.

In California the absolute fastest (if all conditions are met) that a lender can foreclose on a homeowner is 201 days.  Ok let’s go through the process.  From the time you miss your first payment they must give you a minimum of 90 days to get caught up before they can file a Notice of Default (NOD) or giving notice of intent to foreclose.  Read the rest of this entry »

California REALTORS® commend FHFA, Fannie Mae, Freddie Mac on new short sale policies

Posted: 30th April 2012 by Lee Cravens in Short Sales
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LOS ANGELES (April 18) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) applauds yesterday’s announcement by the Federal Housing Finance Agency (FHFA) to streamline the short sale process to help more homeowners avoid foreclosure.  The move calls for Fannie Mae and Freddie Mac to develop enhanced and aligned strategies for facilitating short sales, deeds-in-lieu, and deeds-for-lease.

“C.A.R. applauds the FHFA for taking this important step to streamline the short sale process so that the housing market can begin a full recovery,” said C.A.R. President LeFrancis Arnold.  “We have long called for similar improvements to help ensure successful short sales and look forward to hearing about additional enhancements to further reform the process.” Read the rest of this entry »

So You Are Doing A Loan Mod??

Posted: 20th March 2012 by Lee Cravens in Foreclosure, Loan Modification, Short Sales, Uncategorized
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Or at least that’s what most people I talk to believe their lender is doing for them.  Unfortunately most People do not want to speak with a default advocate because they trust their lender, who, by the way, has illegally processed 84 percent of their foreclosures.  That’s right, 84 percent of foreclosures are flawed so do you think your lender really cares about you or your loan mod??  Please review the printout from Foreclosure Radar I have included in your introductory packet that clearly shows your lender is moving forward with a foreclosure on your property.  In fact the NOTICE of DEFAULT has already been filled which leaves you only one step from foreclosure.   Don’t feel like you are the only one, as this is common practice with all lenders against all borrowers.  While you think you are getting a loan mod and they are telling you not to worry, they are moving through the foreclosure process.  This little deceit is known as dual tracking.  That’s right, while you think you are being lead down the loan mod path they are moving forward with a foreclosure against you at the same time. By then, most of the time for plan B has been exhausted when they inform you that you did not qualify for the loan mod.  Again, don’t worry as most loan mods do fail for whatever reason. Read the rest of this entry »

Rare Earless Bunny Stepped On, Killed At His Own Press Conference

Posted: 15th March 2012 by Lee Cravens in Uncategorized
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Rabbit without ears (©Uwe Meinhold/dapd) Fame comes with a price, as an earless bunny named Til could tell you had it not been stepped on and killed by a careless cameraman. Ironically, the cameraman in question accidentally trod on the rare rabbit at a press conference called to announce it as the main attraction for a small zoo. Til’s rarity and cuteness would have made him a star, as small furry animals are historically celebrated in Germany and, indeed, beloved worldwide. The shaken zoo director reported to Spiegel that Til would have felt no pain. But it will probably be years before the cameraman can put on a bunny slipper without crumpling into bitter sobs.

 

 

New Program Allows Homeowners To Short Sale And Buy Back Home

Posted: 8th March 2012 by Lee Cravens in HAFA short sale program, Short Sales
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Homeowners facing a foreclosure may now be able to lease back and eventually buy back their home after a short sale.

A newly launched program provides another option for homeowners who can’t afford their mortgage payments or have been rejected for a loan modification.

Until recently, the Homes Affordable Foreclosure Alternatives program required that a short sale be an “arm’s-length” transaction, meaning the buyer and seller could not be related and could not have a prior agreement for the homeowner to stay in the property.

A new supplement to the HAFA guidelines “amends this restriction to allow servicers the discretion to approve sales to non-profit organizations with the stated purpose that the property will be rented or resold to the borrower, so long as all other HAFA program requirements are met.”

For homeowners who qualify, the HAFA program now allows a homeowner to sell a home, rent it back for three years and then buy it back at a pre-determined price.

PROGRAM DETAILS Read the rest of this entry »

The Oreo Cookie Celebrates Its 100th Birthday

Posted: 6th March 2012 by Lee Cravens in Cookies
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Tuesday, March 6, 2012, marks a momentous occasion in history — Oreo cookie’s birthday. And it’s not just any birthday; Oreo is turning the big 100. That’s right, Oreo fans around the globe have been twisting, licking, and dunking America’s favorite cookie for an entire century.

According to The New York Times, it all started on March 6, 1912, when The National Biscuit Company sold its first Oreo sandwich cookies to S.C. Thuesen, a grocer in Hoboken, New Jersey — and the rest was history.

More From Delish: A History of Our Favorite Treats

The New York Post reports that the Oreo cookie was born at what is now a New York tourist hotspot and home to Food Network Studios, Chelsea Market. Chelsea Market was once the headquarters for the National Biscuit Company, which would later go by Nabisco. While the headquarters, the owning company, and the cookie itself have undergone many changes throughout the years, the world’s love for Oreos has continued to grow. The design on the outside of the classic cookie alone has changed three times, from a simple wreath around the Oreo name to today’s complicated design complete with a serrated edge. Read the rest of this entry »

What we like about living in The Montego condominium complex located at Townview and Murrieta Hot Springs in Murrieta.

Posted: 6th February 2012 by Lee Cravens in Condos, First Time Buyers, Murrieta, Real Estate, Short Sales
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As part of our continued efforts to bring relevant real estate information about Murrieta and the surrounding area of Southwest Riverside County we have started a new weekly feature called “What we like about living in.” Each week we will pick an area and survey neighbors and establish what it is they like (or dislike) about neighborhoods in our market area.  We feel this feedback will certainly help us when representing buyers as well as sellers marketing their homes to potential buyers. We are going to include information on tax rates, sales prices, likes, dislikes, HOA information and amenities (if applicable), and surrounding attributes to the community. Read the rest of this entry »

New Home Construction Gathers Momentum

Posted: 23rd January 2012 by Lee Cravens in Uncategorized
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NEW YORK (CNNMoney) — New home construction slowed slightly in December after a strong November showing, but was still much more active than a year earlier.

The Census Bureau reported that housing starts fell to 657,000 on an annual basis, down just 4.1% compared with a strong November. Building permits, which are less affected by weather than starts, came in at a 679,000 annual rate, about the same as a month earlier.
The results lagged industry expectations. A consensus of industry experts from Briefing.com had forecast starts of 673,000 and permits of 680,000.

Read the rest of this entry »

There is life after a Short Sale

Posted: 20th November 2011 by Lee Cravens in Short Sales, Uncategorized
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So about two months ago my wife and I sold our bitchen Dodge Charger to a really nice guy in Vegas and since we work out of our home we didn’t really see the urgency of replacing that car with something else but we certainly talked about it.  Since we had the Charger for 5 years we really didn’t know what sorta of rides were out there.  When we saw the Kia SOUL we both liked it and thats rare that we agree on cars beings that I turned wrenches for many years and I think I know everything there is about cars…(my wife is saying that in my ear). Read the rest of this entry »

TEMECULA: City named second safest in America

Posted: 19th October 2011 by Lee Cravens in Uncategorized
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Temecula and Murrieta are the second and fourth safest cities in America, respectively, according to a business news website.

Business Insider used FBI statistics to rank the southwest Riverside County cities among the 13 safest in the nation; they were the only Inland cities ranked. Irvine was No. 1.

The New York-based website reported that Temecula had 72 violent crimes — murders, forcible rapes, robberies and aggravated assaults — per 100,000 people in 2010. Read the rest of this entry »

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