California Homeowner Bill of Rights

California Homeowner Bill of Rights

The State of California is currently working on passing a Homeowner Bill of Rights. Monday 7/2/2012 the State Senate and Assembly took a big step towards getting this passed as a bill. “The Assembly, by a vote of 53 to 25, and Senate, 24 to 13, approved the Foreclosure Reduction Act”. This Act aims to help homeowners who are still struggling with homeownership. One of the most impactful things the act does is to limit the bank/lender options of foreclosure while they are exploring options such as principal reductions or loan modifications.

Case Study - REO Single Family Home in Placentia California

Placentia, California REO

I recently sold an REO home in Placentia California. If you still think the real estate market is a dump, make sure you read this case study to be proven wrong. This case study will be an overview of what happened on this home from Foreclosure Sale through final Disposition.

Uncertainty in REO Rental Programs - What does it mean?

REO Rental Programs

The big banks have stopped foreclosing, thus pulling millions of REO homes off the market. Many of these delinquent homes are turning to short sales or REO Rental programs. In the first scenario, banks work a deal with the borrower to sell the home, short of the outstanding loan balance. In the second, banks take homes back and then rent them to the former borrower or another tenant.

One of the things most folks neglected to consider was how the REO rental programs could and would be financed. This presents one of the largest hurdles.

Picking the Right California Real Estate Broker...It's That Important

Real Estate Agents in Los Angeles CA

Choosing the right California Real Estate Broker can mean the world of difference when buying or selling a home. Real Estate Brokers are supposed to make complicated real estate transactions simple and easy for their clients. They are supposed to do all the grunt work.

Some Markets are Rapidly Improving - Indicators of Sellers Market?

Southern California Real Estate Market

Since 2007 the real estate markets have been collapsing all across the world. With so much talk about the troublesome economic conditions in Europe, increasing delinquencies in FHA mortgages and still slower than desired job growth, some people thought we still had room to fall in real estate.

Case Study - REO Single Family Home in Fountain Valley California

Fountain Valley California Home

A behind-the-scenes look into REO disposition. This is a case study of an REO home for sale in Fountain Valley, CA.

What is an Encumbrance?

Real Estate Encumberances

An encumbrance is a right that burdens or diminishes the value of a property; it impedes it in some way. There are different kinds of encumbrances. Encumbrances can be both financial or non-financial in nature. They can also affect the properties transfer-ability or the property’s use.

What is an Easement?

Real Estate Easements

An easement is a right that a person or entity has in the property of another person or entity. In other words, it is a right to use someone else’s property without owning that property. There are many different kinds of easements that exist for many different reasons.

California Escrow Officer - Interview with Nicole Phillips

Los Angeles California Escrow Agent

What is escrow? Our interview with Nicole Phillips, an Escrow Officer in Westlake Village, CA.

Home Mortgage Principal Reductions Are Coming to California

Hardest Hit Fund

Fannie Mae (FNMA) and Freddie Mac (FHLMC) are on board to play a role in the California Housing Finance Agency’s “Keep Your Home California” program. The whole goal of the program is to reduce the principal balance for homeowners who are underwater on their mortgages.