Are you still obligated to debt after a foreclosure?

Are you still obligated to debt after a foreclosure?

Most homeowners know foreclosure is the process a lender goes through to obtain the value of the property that secures a debt. What many homeowners do not know is that letting a home go into foreclosure may not end a homeowner’s obligation to pay the debt. Obligation to debt after foreclosure depends on a number […]

How are we stacking up?

How are we stacking up?

I thought this week I’d share some statistics on where we are compared to our recent past. Taken from a recent realtor report from our SRCAR Government Affairs Director, from 2009-2011 we experienced very minimal gains, until last year. Most of our cities saw some significant gains here in SW Riverside in 2012 and ended […]

Amended federal program could bail out homeowners

Amended federal program could bail out homeowners

I found out the other day, via the Orange County Register, that mortgage giants Fannie Mae and Freddie Mac introduced late last year new guidelines of their deed-in-lieu program to help struggling borrowers who relinquish their homes to live in them temporarily without having to make mortgage payments. These new guidelines took effect March 1. […]

Should you buy or rent a home?

Should you buy or rent a home?

Home ownership for many is the American dream. It has been proven in almost every neighborhood that there is a sense of pride from homeowners when they own their own home. You can see it in their yards and in their houses. You can see it when you talk to them about their homes. Homeowners […]

Beware of foreclosure rescue scams

Earlier this month, on Feb. 5, the Riverside County Board of Supervisors heard from our Government Affairs Director from SRCAR, Gene Wunderlich, who was requested to speak on behalf of the District Attorney’s office requesting to increase document transfer fees from their current $3 per document to $10. Prior to Gene, DA Zellerbach and others […]

Critical foreclosure updates take effect

Home Affordable Foreclosure Alternatives Program (HAFA) was first introduced by the U.S. Treasury Department in February 2009 and was designed to streamline the short sale process by providing a uniformed process with standard forms as well as incentives for homeowners and their mortgage servicers to complete the process. Like most government programs, this one came […]

Homeowner Bill of Rights becomes state law

Governor Jerry Brown officially signed into law last week the Homeowner Bill of Rights to help struggling Californians keep their homes. The goal of this new law is to avoid foreclosures in an effort to help stabilize California’s housing market and prevent the effect they have on families, communities, and the economy. This law, known […]

Are you still obligated to debt after foreclosure?

Are you still obligated to debt after foreclosure?

This is a question a homeowner should know before he/she is actually foreclosed on. Most homeowners know that foreclosure is the process a lender goes through to obtain the value of the property that secures a debt. What many homeowners do not know is that letting a home go into foreclosure may not end a […]