Santa Clarita Valley Real Estate

Fannie Mae bites back on homeowners who walk away from the upside down homes and investment properties. The courts will now come to the mortgage giant’s plans to take on those who decide not to make their payments. It also will limit their access to future loans. Foreclosures continue at a rate of 2.5 million a year, Federal Deposit Insurance Corp. Chairwoman Sheila Bair said, and some 11 million households owe more on their mortgage than their home is worth. Taking aim at homeowners who are able to pay their mortgage but decide it's not worth it, Fannie Mae plans to go after them in court and to limit their access to home loans for seven years. It was a clarion call to companies servicing its loans to recommend, engaging in a so-called deficiency judgment — a court order requiring a defaulting borrower to pay any remaining unpaid portion of the loan after a seized home is sold. Under California state law, lenders who opt for court proceedings can obtain a deficiency judgment

Foreclosure Timeline Seller's, Borrower's and even novice Realtor's are often confused by the entire foreclosure process; Foreclosure has never been simple but with the current backlog of bank owned properties and other pressures, it's become worse than ever. Here is an easy to read foreclosure process time line. It will help one understand the different methods used to handle and a purchase short sale, pre-foreclosures and foreclosed properties. If you have personal situation we can answer it, or get an answer to your question about your options for staying in your home, selling and moving on your schedule while helping you step by step through the process. 1. First month missed payment. This counts as day one for the bank but notice, the homeowner had 30 days just like normal to come up with a payment. They will always remain 30 days ahead of the bank schedule. 2. Second missed mortgage payment...day 30 for the bank. 3. Third missed mortgage payment...day 60

Fannie Mae extends seller assistance program Fannie Mae recently announced it is extending its seller assistance incentive on all Fannie Mae-owned HomePath properties. Buyers will receive 3.5 percent of the final sales price, to be used toward closing cost assistance or their choice of selected appliances. The offer is available to any owner-occupant who closes on the purchase of a property listed by June 30.   We can help you with your next home purchase and sale in Los Angeles County CA. We serve the area of    Los Angeles County - Santa Clarita Valley real estate - San Fernando Valley real estate Westside LA - Antelope Valley real estate - Santa Clarita Relocation Services

The latest bank owned properties available for sale. For more information, or to view them please contact me asap. Sincerely, David Hoshaw Broker, CRS, GRI, e-PRO Weichert, Realtors - Hoshaw & Associates 28009 Smyth Drive Santa Clarita, CA 91355 661-287-4466 ext. 226 david@scvRealty.com www.scvRealty.com Address: 22817 22819 14TH STREET, SANTA CLARITA, CA Rooms: 8 Bed: 3 Bath: 2.0 Price: 179,900.00 Address: 20940 JUDAH LANE 17, SANTA CLARITA, CA Rooms: 6 Bed: 3 Bath: 3.0 Price: 199,900.00 Address: 25235 WHEELER ROAD, SANTA CLARITA, CA Rooms: 7 Bed: 3 Bath: 2.0 Price: 326,900.00 Address: 13040 DRONFIELD AVE APT 5, SYLMAR, CA Rooms: 3 Bed: 2 Bath: 1.0 Price: 68,900.00 Address: 14425 FOOTHILL BLVD UNIT 9, SYLMAR, CA Rooms: 5 Bed: 2 Bath: 2.0 Price: 135,900.00 Address: 15122 ROXFORD STREET UNIT 4, SYLMAR, CA Rooms: 6 Bed: 3 Bath: 3.0 Price: 222,900.00 Address: 13265 RAVEN S

Homes sales in the West jumped 13.6 percent to an annual rate of 1.25 million in December and are 31.6 percent higher than a year ago. NAR Housing wizard Yun said the market is actually “ underperforming ” and hurting the broader economy. “We’ ve added 25 million people to our population over the past decade and housing affordability conditions are the best we’ ve seen since 1973, but household formation is much lower than expected,” he said. “Consequently, there is a pent-up demand which could be unleashed with the right stimulus, including a non-repayable home buyer tax credit. The Obama administration and Congress need to move fast to stimulate a spring sales upturn which will help to stabilize home prices and set the foundation for a sustainable economic recovery.” Want an opportunity in today's real estate market. Click here to see this weeks best foreclosure deals. The link below will open your web browser to see the properties. Client Brief Report + Photos The links wi

Buyers and Investors: The Real estate market has changed and the opportunity factor to own your home has been enhanced recently with a large amount of available REO Homes, pre-foreclosure homes, low interest rates, lower home prices, 3% down programs, government programs, first time home buyers benefits, tax advantages, and investment opportunities. Real estate has always been one of the best and safest investments available and the best time to buy is always when the prices are at or near the bottom. Call or email our office for more details on how you can get into a good opportunity! Current Homeowners: Do you need to get out from under your over encumbered property? We can facilitate and negotiate a loan modification with your current lender if you qualify. Sellers: If you need to sell we can arrange to have your property sold with no selling costs to you, or loan balances owed to the lender(s). Our experience with short sales will create the best possible outcome for you, and pr

Today the Federal Housing Finance Agency the regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks (FHLBanks), the Federal Housing Finance Agency (FHFA) strongly supports the Enterprises’ leadership role in setting industry standards for assisting "at risk" borrowers who could lose their homes to foreclosure. Federal Housing Finance Agency announced a major program designed to greatly reduce preventable foreclosures with a simplified, streamlined loan modification program to get struggling homeowners into mortgages that they can afford. It is an achievable goal if homeowners, banks, mortgage servicers, investors, Fannie Mae and Freddie Mac all work together. This streamlined modification program with uniform eligibility requirements will be supported by a consistent, efficient process approved by key industry participants. This program resulted from a unified effort among the Enterprises, Hope Now and its twenty-seven servicer partners, the Department of the Tr

This government sponsored rehab program is a perfect for the purchase and rehab of of bank owned properties. FHA 203(k) renovation financing provides homeowners a cost-effective way to live in their dream home. And it gives homebuyers the opportunity to purchase properties in need of improvement. This is accomplished with a permanent mortgage that allows your client to purchase or refinance a home and then immediately begin the renovation - all with just one application and one closing. The FHA 203(k) loan is a fully disbursed loan which allows a borrower to purchase or refinance a property and finance the cost of rehabilitation with one loan. Because it is fully disbursed at closing, the 203(k) loan can be insured by HUD as soon as the loan closes. The mortgage amount for these loans is based on the projected value of the property with the work completed, taking into account the cost of the renovation. Advantages of FHA 203(k) Rehab Financing: More money to work with. The amount your