Dictionary Hill CA Real Estate

                                  Fed Stands Still – Time to Make Your Move

On Tuesday the Federal Reserve adjourned with an announcement that there was no change to key short-term interest rates – leaving the Fed Funds Rate at 2.00% and the Prime Rate at 5.00% for the third straight meeting. The decision, however, was anything but cut-and-dry.

Earlier in the week, the Personal Consumption Expenditure data indicated that inflation climbed 0.8% overall in June, which is the highest inflation jump in 27 years. In addition, the report indicated that inflation now sits at 2.3%, above the Fed's desired range of 1-2%.

Although the Fed ultimately left interest rates unchanged, inflation obviously remains a concern and the recent rise may lead t o an interest rate hike by the Fed in the near future.

What Does This Mean to You?
Last week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market.

If you've been weighing your options and waiting to see how things shake out, this is the ideal time to act - especially when you consider the new Housing and Economic Recovery Act benefits for home buyers:

1) $7,500 Tax Credit for First Time Home Buyers

2) Additional options for homeowners who are "upside-down" and need to refinance

3) More flexible Reverse Mortgage options

Special note: Some seller-paid down payment assistance programs are being eliminated as of October 1st – so purchasing a home before then may gain you a double benefit of tax credits AND seller-paid down payment assistance while it is still available.

San Diego and Riverside Counties Short Sale Consultation

ARE YOU BEHIND IN YOUR MORTGAGE PAYMENTS?

ARE YOU’RE MORTGAGE DEBTS MORE THEN YOUR HOME IS WORTH?

HAS FORECLOSURE BEEN THREATENED OR STARTED?   

If you answered YES to any of these Questions, this Important Web Bulletin may be the Answer for You! 

We're NOT Lender's trying to make you another mortgage loan… We're NOT Attorney's requiring a retainer fee.  We're San Diego and Riverside County's premier Short Sale Team, and there is a much better Solution available to you, other then Foreclosure… it's called a Short Sale.   A Short Sale can remove your home mortgage debt problems, salvage your credit, and get the Mortgage Collection Agents off your Back.  

For free consulation, please feel free to contact me today at my website, click County Properties San Diego or County Properties Riverside.  

Due to the poor local real estate market here in San Diego and Riverside Counties, and the nationwide Mortgage loan crisis, many San Diego and Riverside Counties homeowners find themselves unable keep up with their increased mortgage payments, and many times the mortgage loan debt is more then the home is worth… in other words – No Equity left in the property.

Property values have dropped throughout southern California, and many alternative loan programs have been terminated.  So, most mortgage bankers are unable to neither modify the loan or reduce the loan payments, nor re-finance the home. This has left many home owners trapped in a home with no equity, and mortgage payments that they can no longer afford.  Unfortunately, many homeowners at this point give up, for they think there is nothing they can do to stop the pending Foreclosure. Well, there IS something one can do that's far better then a Foreclosure… a Short Sale. 

Today in California, 50% of all Mortgage Loan Foreclosure solutions
with Banks are resolved through the Short Sale method.

Simply put, a Short Sale is a situation in which the total mortgage debt on ones home is more then the net sales price of that home.  The Mortgage Banker(s) have to agree to write off a portion of their outstanding debt in order for the property to be sold.  This is not an easy process, for the Mortgage Banker(s) treat their outstanding debt with upmost priority, and therefore they must be convinced through tough negotiations and market data analysis that it is a little bit better for them to reduce their outstanding loan balance on the property, then it is for them to proceed all the way to the end of the Foreclosure.  

You may ask yourself”Why should I care, for I have no more equity left in my house?”… Well, the fact is there are several important reasons why a Short Sale is far better for you compared to Foreclosure… Here's why:

1.) SHORTER PERIOD OF DAMAGED CREDIT: A Foreclosure will stay on your credit report for 7 years, but a bank Short Sale will typically only last about 3 to 4 years on your credit report.  And, our Credit Repair Associates can often get the Short Sale removed much sooner then that.

2.) BETTER FICO SCORE: A Foreclosure more negatively affects your FICO score which is the all important credit rating number mortgage lenders use to determine if they will loan money to you or not.  Many mortgage experts believe that a Foreclosure will drop your FICO score by 100 to 200 points more then a Short Sale does. If you want to borrower money in the next 5 to 7 years for a car, boat, or a home, then the Short Sale will make a big improvement.

3.) DIGNIFIED SOLUTION:  In a Short Sale you decide to sell your home to another potential home buyer – just like your neighbors have over the years. It is a relatively pleasant and dignified resolution to a very tough situation. On the other hand, after the Foreclosure sale, a Bank representative comes by the home to lock up the doors and windows and change the locks, and if you are still there, they contact the local Sheriff for eviction. Then the home sits vacant for several months as the grass gets brown and the trash and the papers collect in the yard. The agent for the bank usually slaps 'Bank Foreclosure' signs all over the property while the house sits empty waiting for a sale. This happened to my home 14 years ago and it was very embarrassing to me for my friends and neighbors to witness.

4.) EASIER TO FIND NEW HOME:  If you are like most people in this situation, you will be looking for a home to rent after this issue is resolved. It is easier to find a nicer home to rent if you conduct a Short Sale versus a Foreclosure. Most property managers obtain a credit report. A Short Sale whereby you cooperated with your bank to resolve the situation is much better then a Foreclosure on your credit report. Often times, this will allow you to rent a home in a better location with a lower rent payment.

The longer you wait, the harder it is for us to help.

The County Properties Sale Team of experts consists of a Bank Negotiator, a Real Estate & Internet Marketing expert, a Listing and Sales expert. Our team experience goes back to the mid 1990's when southern California experienced its last major real estate down turn in the local real estate market. Best of All our services are FREE to you, for we negotiate our fee with the Bank.

Please feel free to contact me today at my website, click County Properties Real Estate.  

We have helped numerous homeowners in San Diego and Riverside counties and we can help you. Don't trust your home Short Sale with just any Realtor!!   You may only have one shot at this, and there is a lot riding on the successful negotiations with your Bank and subsequent sale of your Home.  We're an experienced Short Sale team… We've been working in the real estate industry with Short Sales, Foreclosure and Bank Owned properties since 1995. … We've negotiated with many Banks and Savings & Loans officers to reduce loan balances or postpone foreclosures, or to re-structure loans on the behalf of the home owner… In short, we've been involved in every facet of the Shot Sale and/or Foreclosure process and we're here to help you with your situation.

Time is of the Essence. You MUST act fast to salvage your credit.

If Foreclosure proceedings have started on your home, then you have only 3 months and 3 weeks before your home is sold at the public Foreclosure Auction on the courthouse steps. Now our team of experts can often get the foreclosure to be delayed, only if you call us ASAP. Please don’t hesitate, or sit in hope that your financial fortunes will significantly change in the next 2 months like I did 14 years ago.  Yes, I may know what you may be going through, for I lost my home through Foreclosure 13 years ago… And we're here to help prevent the mistakes that I made long ago. 

For free consulation, please feel free to contact me today at my website, click County Properties San Diego or County Properties Riverside.