What is Strategic Default and is it right for you. (CBS) Despite some indications that the economy is recovering, the housing market remains a disaster area. Currently, about seven million homeowners are behind on their mortgages and that number is only getting worse. Banks, with the help of the government, are offering some relief to […]
Author: Diego Loya
Diego Loya is a Realtor - Broker at Home Living Real Estate Brokerage, a Orange County full services real estate company. Over the past 12 years, Diego has helped homeowners sell and buy their homes. He's loves educating and empowering real estate consumers. You can find him on Google, Facebook and Twitter.
When a person falls behind on their mortgage, there are options available to the borrower. Options include Loan Modifications, Reorganization of debt through Bankruptcy Protection, Short-Sales, Deed-in-Lieu of Foreclosure, or an outright sale of your property. Naturally more options are available to the person who seeks immediate legal advice. Here are a few options available […]
High-End Homeowners Falling Into Foreclosure Trap Heated pools, ocean views and media rooms are not what most people would expect to find in a foreclosed property, but more high-end homes—priced over a million dollars—have been falling into the hands of banks this year. This foreclosed home in Fort Mill, S.C. is currently listed at $1.148 […]
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What is HAFA?
You’ve heard a lot of talk about HAFA, but what is it? In early 2009, the National Association of REALTORS® (NAR) urged the U.S. Treasury Department, the Federal Housing Finance Agency, Fannie Mae and Freddie Mac to improve the short sales process. NAR’s concerns were first addressed on May 14, 2009, when the Obama Administration […]
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When Will You Have Equity? Find Out!
How Long Will Negative Equity Last? There has been a lot of recent talk about mortgages in negative equity – underwater homes – and the impact on the housing market. In response, First American CoreLogic asked the question: When will these homes start to float? Below is a research note developed by First American CoreLogic […]
Loan Modification Denied—Now What? New Short Sale Guidelines Under HAFA (Home Affordable Foreclosure Alternatives) Program Because so many million homeowners across the United States are struggling to make their mortgage payments and facing foreclosure, the US Treasury Department under Making Home Affordable implemented the Home Affordable Foreclosure Alternatives Program (HAFA). Effective April 5, 2010, HAFA […]