Financing real estate

I received this from BWC Mortgage today and thought I would
share this with you regarding the loan limits….

As Uncle Sam  continues to play an increasing role in
shaping the Lending industry, it goes without saying that the resulting familiar
government bureaucratic signature is not making it easier for Loan originators
and Lenders to navigate the constantly changing landscape.  HERA, HARP, HVCC,
ARRA, HOPE,  are all examples of the new age of  government concocted programs
to “fix” the broken industry.  The fact they are being designed by those with
scary  little knowledge of the industry,  ensures our jobs will become
increasingly challenging for the foreseeable future.

On the plus side, it looks like
High Balance loan limit increases are finally being continue

Last week when I was working with a client who is buying a new home in Danville and I experienced a new way of ordering appraisals through Wells Fargo. They are now going to a system in which they are partnered with a national company who is partnered with different appraisal management companies (AMC).  In order to get started on tis new loan I was required to continue

There is so much talk going on this week across the country about the proposed $700 billion government bailout and it can be very confusing about what it all means to us who are buying and selling homes here in the San Ramon Valley.  There is particularly relevant discussion in US News & World Report about how the bailout would affect interest rates.  Here’s my view from the perspective of a real estate broker who has to advise my clients every day continue

I receive calls all the time from San Ramon Valley home owners who are interested in whether they should consider a deed in lieu of foreclosure or a short sale on their property. It will help to know ALL your options when facing foreclosure. One option is giving the Deed in Lieu when they are unable to meet their financial obligations on the home, there is no equity left in the property and when foreclosure seems to be the imminent destination.

A Deed in Lieu may be submitted by the borrower after talking to the lender about this as an alternative to paying off their mortgage but sometimes the borrower will submit the Deed in Lieu without lender agreement. The lender can show their refusal of the Deed in Lieu by filing a Notice of Non-Acceptance with the County Recorders Office.

So, after asking a few questions I find out that they owe, for example, a San Ramon home owner continue