Never pay for Directory Assitance on your cell phone again.

I know most people have smart phones but it can be time consuming to look up info on the internet from a PDA.

Google has a free 411 service set up: GOOG-411 

I've tried it, it works well.  Its a completely automated system and you don't get to speak to a live person so if the system doesn't understand you or there is too much back ground noise you may not get good results.  I tested it with a "roebucks juice" in "torrance,ca" query and the results were accurate.

 To apply this to real estate, it may be handy next time you need a local service contractor, i.e.- plumber, electrician, roofer, termite, carpenter, window repair etc., etc.

 

 

 

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HOA Assistance Program offered through PWR

HOA Assistance program offered through my local association of realtors (Pacific West Association of Realtors)

Program offered through Pacific West Association of Realtors for homeowners in Southern LA and Northern Orange counties.  Funds for this program are from a charity account setup by fellow Realtors and a grant from a California Association of Realtors fund.  The program will pay up to $250/month & up to $3000 per year to the Home Owners Association for the qualifying borrower.  This program has helped over 30 families since its inception in 2007

 

Be sure to check with our office for qualifying guidelines and available funds before applying.

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I really don't understand this whole new phenomenom about REO listing agents (and now short sale & standard transaction agents) requiring a pre-approval from a "Direct Lender".  Maybe I'm just bitter because my client who was told by a "Direct Lender" that their financing was secure and all they had to do was find a property.  So I found them a property and then 20 days later the "Direct Lender" denies the client due to credit/employment/income factors (layered risk) that were present prior to the client being issued their pre-approval.  Maybe its because for the most part the loan reps I see at Direct Lenders at the banking institutions I go to (Bofa, Chase, Wells Fargo) are young, seemingly inexperienced and likely unlicensed.  Many loan reps working at…

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Did you know that the state of California is offering a $10,000 tax credit for homebuyers buying new construction?

Well time is running out on this great opportunity.

  
For more information go to CA Franchise Tax Board website at:

http://www.ftb.ca.gov/individuals/New_home_Credit.shtml

 

Update: as of July 3rd, 2009 the state has run out of funds for this program.  Sometimes when sales people are telling you that you'd have to "Act Now" its actually true....

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If all borrowers are required to sign IRS 4506-T forms that allow underwriter to verify income documentation, why do lenders require income documentation?  Shouldn't they just be able to take a signed 4506-T form get the IRS transcript and verify the income coming directly from the IRS?  Wouldn't the world be easier for loan originators and processors too if they could just order a 4506-T verification direct from the IRS covering a 2 year time period, get the transcript and divide by 24 to get the borrowers monthly income?

 

Just thinking out loud into the blogosphere...

 

 

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Here is an interesting application of the job loss protection gurauntees the auto industry introduced being applied to the Real Estate Market

http://www.mortgagenewsdaily.com/channels/video/79154.aspx

 

 

alligator_rainy_day_450  

 

 

Here is the website for the program the Real Estate Company is using as the insurance backstop for making this claim

http://www.helpprogram.org/index.htm

 

C.A.R. launches Mortgage Protection Program (Thursday, April 2, 2009)

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A lot of Direct Lenders, Banks, Government Agencies and Non-profit organizations are inundating homeowners with messages that Third Party Loan Modification Companies are "scammers" and that borrowers should use extreme caution when doing business with these companies.  They tell homeowners that they will do their loan modification for free.no_free_lunch_124.  !FREE Loan Mod! That sounds great! I'll take it!

Unfortunately as the old saying goes, there is no free lunch...especially when it comes to loan modifications.

I'll give you an example of what I mean.  I just called Chase Bank to check status of a Loan Modification sent in on 5/18/09.  The first representative told me I needed to wait 6 weeks before I could confirm receipt of the package.  I knew that had to be…

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Want to feel frusturated and Raise your stress level? Click this link and read

Found this blog post on Active Rain.  Reading this post is the best way I think for the average layman to understand the frusturation with dealing with Lenders Loss Mitigation Departments.

 

This article did not surprise me though.  I've been waiting > 2 months for a Loss Mitigation Department to give me an updated approval.  I have a buyer willing to purchase property on terms approved by investor (based on Febuary 2009 BPO).  All I need is updated approval with new buyers name.

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Because of the declline in price's and the Sub Prime situation that accured ther are properties on the market, for $200000 and Under most are Short Sales or Bank owned, I CAN GET THEM FOR YOU, but you got to act fast because at these price's they will not last long. As you know many are out there looking at them, and with the all time low interst rate now offered, and the great loan pacages, now is the time to move. these properties will move fast, I wouldn't wait too long .........

Los Angeles County

City                     Bedrooms             Baths            Build Sq Ft              Prices

East Los Angeles (3)   2                        1                752-1501              $181000-$199000

Gardena (2)              …

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