Fremont Real Estate Blog

CAR just released the names of 16 attorneys who were collecting fees for loan mods and doing nothing in return. If you know of any attorney's who are splitting fees with real estate agents on loan modifications, realize they are committing a crime. Attornies are not allowed to split their fees with non-attornies. Hopefully you are not working with any unscrupulous lawyers or agents. As I’ve been saying, you don’t need to hire anyone to help you complete a loan mod. Send the bank the required info. I've confirmed this with SVP's at banks and they say the same thing. Right now loan mods are based on a business decision. Does the Net Present Value on the new modified loan exceed what the bank would get in a foreclosure. You don't have to calculate the NPV (net present value), the bank does this, however if you are financially savvy, ask me for my free loan mod spreadsheet. Work the numbers to see if you can make a business case to support your loan modification. good luck....

The Gubernator signed into law SB 306 The most interesting paragraph of which is that mortgage lenders and servicing agents, need to respond to short sale requests within 21 days of receiving it. So take that means BofA (and it’s fatal Zeus child –Countrywide)can’t make you wait 6 months to say the offer was denied. This is very exciting news, I just don’t understand why it isn’t getting more press. 5. Requires a beneficiary or his or her authorized agent to provide a short-pay demand statement to an entitled person or his or her authorized agent within 21 days of receiving a demand for the statement from the entitled person or his or her agent, but would provide that if a beneficiary or his or her authorized agent elects not to proceed with the short-sale transaction, he or she is not required to provide a short-pay demand statement; instead, the beneficiary or h...

Sunil Sethi Show and Sell Realty 510-388-2436 39865 Cedar Blvd. #65, Newark, CA 2BR/2BA Condo Newark, Regular Sale, Clean Attractive Unit 2BR/2BA Condo offered at $225,000 Year Built 1986 Sq Footage 1,071 Bedrooms 2 Bathrooms 2 full, 0 partial Floors 1 Parking 2 Covered spaces Lot Size 275,300 sqft HOA/Maint $301 per month DESCRIPTION Regular Sale - Tastefully refreshed, with new paint, carpet, tile in bath and kitchens, baseboards, toilets, mirrors, bathroom lights. Shows clean and ready to move-in. This complex is very popular because of its proximity to South Bay, Penninsula, and East bay, also walk to Challenger School, Newpark Mall, FoodMaxx and many restaurants. CALL ME TO GET OPEN HOUSE SCHEDULE OR CALL YOUR AGENT TO VIEW PROPERTY PRIVATELY. More info at www.sunilsethi.com see additional photos below PROPERTY FEATURES - Central heat - Fireplace - Hardwood floor - Tile floor - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Laun...

It’s always nice to get a tax credit. See the article sent from Sum of all numbers below regarding child care expenses paid during the summer. Tax Facts about Summertime Child Care Expenses Many parents who work or are looking for work must arrange for the care of their children during the school vacation. If you are one of those parents, and your children requiring care are under 13 years of age, you may qualify for a child care tax credit. (Read More)

"It will take money from our state and federal governments, and advocacy by our leaders, to change course on a ship this big. It won't be easy, because it can't happen just by lecturing kids on nutrition, or putting salad bars in cafeterias. Edible Education is...a way of making sure that children grow up feeling the soil with their own fingers, harvesting its bounty in the American sunshine, and watching their own hands make the kind of beautiful, inexpensive food that can nourish the body and the spirit. Only then will the next generations of Americans know that we don't just vote in the ballot box, we vote for the kind of world we want every time we choose what to eat." - Alice Waters in her 2008 book "Edible Schoolyard: A Universal Idea" Source: Organic Consumers Association.

FDIC just launched a resource page to prevent foreclosure. I’d like to see stats on how many home owners have been helped so far, and maybe break that down by categories like (reduced interest rate, reduced principle, extended amortization). Total written off today. Also which banks have been doing this. We can applaud the banks that are working to prevent foreclosure. Press Release FDIC Launches Foreclosure Prevention Initiative FOR IMMEDIATE RELEASE September 16, 2009 Media Contact: David Barr (202) 898-6992 The Federal Deposit Insurance Corporation (FDIC) today announced that it is releasing a free tool kit of information that will help borrowers, community stakeholders and the banking industry avoid unnecessary foreclosures and stop foreclosure "rescue" scams that promise false hope to consumers at risk of losing their homes. The tool kit includes critical information to help borrowers know who to contact and what documents they need to have available to apply for a lo...

I was reading John Occhui's post The Next Wave of Bad Loans - Option Arms This is not new news; this is a rehash of what has been said about Option ARMS since the beginning. My tag line that I print on my business card and had on my website during the go-go years was, "Friends Don't Let Friends Buy Options ARMS." I once had a booth at the Fremont Art and Wine Festival, with a big poster with my tag-line, and all the mortgage brokers that passed by laughed because they understood what it meant, but they'd loved the money they were making off option ARMs. With the exception of the little old blind ladies, there is no sympathy here for borrowers, you were focused on your cash-out and paid no heed to the consequences. If you take a loan with a variable element, you have to be prepared to deal with the variable when it happens. At an open house last week, a mortgage broker came by all excited because he now was offering an FHA with only a 0.5% down payment. I asked him...