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Mailing Address is 1121 W Valley Blvd, Ste I-319, Tehachapi CA 93561. Make sure you note the address at which we will meet you for your appointment.
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What should Tehachapi homeowners avoid doing if you can’t afford to pay your mortgage?

Let’s talk about some do’s before we get the don’ts.

Feel like your Tehachapi house has you drowning in debt?  Think about selling it as a short sale.

So, what are some good things to do if you are a Tehachapi homeowner and can’t afford to pay your mortgage?

Find out what your options are!  You didn’t set out to be in this situation and your lender will understand that.

 

Many times folks that are no longer able to pay their mortgage and owe more on their house than it’s worth think their only choice is to let it go to foreclosure.  That’s just not true.  You have a number of choices available to you in what can seem like an overwhelming situation.

  • Talk to your lender to see if they will work with you to keep your house.
  • Negotiate a reduced mortgage payment.
  • Sell your house as a short sale
  • Arrange a Deed in Lieu of foreclosure
  • Talk to your accountant and attorney for advice that is specific to your situation.
  • Talk to a REALTOR® who can explain the options to you.
  • Allow the foreclosure to go forward

So what should you avoid under these trying circumstances?   Don’t make the mistake of feeling like you’re stuck.  Make a choice!  Talk to a real estate professional that is familiar with short sales and foreclosure issues.  I’d be happy to help.  Feel free to contact me at 661-375.-7325 to get your questions answered.


 

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Why Might Short Sales Stabilize the Real Estate Market?

Find out why foreclosure may not be your best choiceI hear from lots of prospective buyers that want to get a list of Tehachapi foreclosed properties so they can look for the “best deal.”  The truth is a foreclosed property may not be the best deal whether you are the occupant of the foreclosed home, or the prospective purchaser.

As the occupant, if you are just waiting for the foreclosure to go through, you’re not really doing yourself, or your neighbors, any service at all.  I understand that the entire situation is distressing and stressful.  You probably already went through one or more attempts at a loan modification.  I’m sure you’ve had plenty of offers of “help” that didn’t seem very helpful.  Regardless of what your history has been, it’s pretty much never a good idea to stand by and let the lender foreclose.

As the seller, you can salvage the shreds of your credit rating by taking action.  In addition to stopping the free-fall on your credit rating, you’ll be able to hold your head up and move on with your life.  How do you do that?  Consider a short sale as an alternative to passively waiting for foreclosure.

Why is this good for your neighbors?  A foreclosed home typically sits vacant for extended periods of time while the lender is readying it for sale.  During that time, squatters may move in, but whether they do or not, the property continues to deteriorate while it sits there waiting.  This means that the value is going down while it sits too.  This spiral is contributing to the issues we face today with market values dropping because when these distressed properties finally do sell, they are the comps (comparable properties) that are being used to help value the properties for which buyers are getting loans.

Foreclosed properties typically will sell for a little bit less than non-foreclosures, but those savings come at a cost.  The costs can include both time and money.  A foreclosed property will, most often, need some work done in order to bring it up to the standard of a non-foreclosed property.  That means that it may not be the best deal when it comes to buying.

It also takes a special kind of person to look past the problems and see the beauty that can be revealed with some sweat equity.

It takes an even more special seller to take action and try to sell the house before the lender forecloses.  If you are that kind of seller, I’d be happy to talk to you about options.  Why not call today?

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Look out for These 6 Loan Scams

We all know that times are tough and keeping your head above water when it comes to your mortgage is one of the toughest things to do nowadays.  Be careful of the providers you choose when attempting to better your mortgage situation since scams abound.  Not all scams are easy to recognize, but here’s a list of  6 that all Tehachapi home buyers  should watch out for:

1.     Any company or person who asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.

2.     Any company or person who guarantees they can get your loan modified or stop your foreclosure.

3.     Any company or person who advises you to stop paying your mortgage company  and start paying them instead.

4.     Any company or person that pressures you to sign over your deed, or to sign any paperwork that you haven’t read, or don’t entirely understand.

5.     Any company that claims to offer “government approved” or “official government” loan modifications.

6.     Any company or person you don’t know that asks you to release financial information over the phone or online.

Check the website for  more information on how to spot scams.

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