The Federal Housing Finance Agency (FHFA) wants to expedite the stabilization of the real estate market. The hope is that if they let upside down home owners take advantage of today’s low interest rates, fewer homeowners will walk away. The goal is to lower the interest rate and monthly payment. The Home Affordable Refinance Program …
Category Archives: Myths
When the Escrow Fails Does the Deposit Go to the Seller?
What happens to the deposit when an escrow falls apart?
Do You Have to Be Behind in Your Payments to Get a Short Sale?
Getting behind in payments makes no sense if you want a short sale approved!
Can The Lender Go After My Retirement Funds?
Retirement accounts are protected in California. Talk to your tax or real estate attorney. They can write a letter addressed to your lender stating that your savings is in a protected retirement account. This should be adequate. Lenders are doing everything they can to minimize their losses.
Why Lower My Price When the Median Price is Going Up?
Leslie Appleton Young, Chief economist for the California Association of Realtors, recently reported that the May [2010] sales in California were down by a whopping 25% while the median price of a home was up 4.8%! This does not mean that existing home prices are going up. It does mean however, that home sales are …
Is It Always a Lot of Work Maintaining Rentals?
Investors purchase properties expecting a return on their investment. The return can be from rents, appreciation or adding value like you did by fixing up the property. The value added to a property through rehabilitation is generally more immediate and over time can have a much higher rate of return. I don’t understand why you …
