San Jose Ca Mortgage Modification Red Flags

“People facing foreclosure should avoid any company or individual that requires a fee in advance, guarantees to stop a foreclosure or modify a loan, or advises the homeowner to stop paying the mortgage company.” Federal Trade Commission

  1. Always avoid offers to modify your mortgage in exchange for upfront fees. No one should expect payment for mortgage modification services other than commission fees after the modification has been completed. Do not pay for the promise of results … pay only for the results themselves.
  2. Be suspicious of anyone who guarantees you a mortgage modification. Any legitimate agent or servicer should know that the mortgage modification process is complicated and dependant on many factors, and that to guarantee a successful modification is unrealistic. Fraudulent parties will make this promise to falsely raise your hopes, making them appear as though they are providing a rate opportunity. As common sense suggests, if it sounds too good to be true, it usually is.
  3. Certain frauds present themselves as government agencies or other authoritative entities by creating websites with official-looking seals, official-sounding names, or video clips of politicians. If someone claims to represent the government, a lending institution or a bank, be sure to verify his or her affiliation. The best way to do this is to check with your lender, Better Business Bureau, or the government’s official Making Home Affordable website.
  4. Beware of people who pressure you to sign papers immediately, or who try to convince you that the can “save” your home if you sign or transfer over the deed to your property. This may be called “taking over your property subject-to existing financing.” But no matter what you are told about why you should sign over the deed, understand that once this is done, you no longer have legal rights to the property and can be removed from it. Always see counsel before proceeding with an option like this.

Scammers are all around us. Don’t let con artists fool you, or someone you know, into an even worse financial situation by a predatory mortgage scheme. If you have questions about avoiding mortgage scams, or if you need legitimate, professional help with avoiding foreclosure, know that real help is available.

Call Kathleen Daniels, Certified San Jose Short Sale Specialist today @ 1-800-972-1822.

Intero San Jose Ca

Copyright © 2010, All Rights Reserved by Kathleen Daniels, San Jose Short Sale Specialist *San Jose Ca Mortgage Modification Red Flags*

First Steps To Avoid Foreclosure

In today’s market, 1 in 7 homeowners is having trouble paying the mortgage. More than 70% of these homeowners proceed without seeking assistance or getting the facts. Many do not even realize that foreclosure is a process, and that there is time to make informed decisions that may result in a better outcome.

You are not alone. Millions of homeowners nationwide are having trouble paying their mortgage. To assist you, I’ve prepared a free report outlining the first steps a homeowner should take when facing a foreclosure.

If you live in San Jose Ca or anywhere in Silicon Valley, I am here to help.

It does not matter where in this great nation you live I will find someone in your area to help.

Helping someone avoid foreclosure is a priceless gift.

Receive a Free report at San Jose Short Sale Specialist

Intero San Jose Ca

Copyright © 2010, All Rights Reserved by Kathleen Daniels, CDPE *First Steps To Avoid Foreclosure*

Almaden Valley Townhome for Sale


Almaden Valley Townhome for Sale

Overview
Maps
Photos
Description
Neighborhood
Market Stats
$513,000
Condominium
For Sale
Main Features
2 Bedrooms
2 Bathrooms
1 Partial Bathroom
Interior: 1628 sqft
Lot: 1,742 sqft
Location
1108 Trevino Terrace
San Jose, CA 95120

Kathleen Daniels, CDPEKathleen Daniels, CDPE

Intero Real Estate
(408) 972-1822
Kathleen@ExclusiveSanJoseHomes.com
http://www.ExclusiveSanJoseHomes.com

Listed by: Intero Real Estate – Kathleen Daniels

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San Jose California Short-Sale versus Foreclosure

How will a San Jose California Short-Sale or Foreclosure affect a San Jose homeowner?

The following Fannie Mae guidelines provide helpful information:

Foreclosure
A five-year period is required to re-establish credit, measured from the completion date of the foreclosure action as reported on the credit report or other foreclosure documents provided by the borrower. Additional requirements apply after five years, up to seven years, following the completion date:
• The purchase of a principal residence is permitted with a minimum 10% down payment and minimum representative credit score of 680.
• The purchase of a second home or investment property is not permitted.
• Limited cash-out refinances are permitted for all occupancy types pursuant to the eligibility requirements in effect at that time.
• Cash-out refinances are not permitted for any occupancy type.

Exceptions for Extenuating Circumstances
A three-year period is required to re-establish credit, measured from the completion date of the foreclosure action. The additional requirements listed above apply after three years and up to seven years following the completion date, except the minimum credit score of 680 is not required.

Deed in Lieu of Foreclosure
A four-year period is required to re-establish credit, measured from the completion date (the date the deed-in-lieu was executed). Additional requirements that apply after four years and up to seven years following the completion date:
• The borrower may purchase a property secured by a principal residence, second home, or investment property with the greater of 10% minimum down payment or the minimum down payment required for the transaction.
• Limited cash-out and cash-out refinance transactions secured by a principal residence, second home, or investment property are permitted pursuant to the eligibility requirements in effect at that time.

Exceptions for Extenuating Circumstances
A two-year period is required to re-establish credit, measured from the completion date. The additional requirements listed above apply after two years and up to seven years following the completion date.

Preforeclosure Sale (a.k.a. Short Sale, at least in cases where a Short Sale is being done to avoid foreclosure…not sure how you’d establish that it wasn’t, so possibly all Short Sales may fall into this category.)
A two-year period is required to re-establish credit, measured from the completion date.

It’s important that a San Jose home buyer and San Jose home seller work with an experienced San Jose Real Estate agent who understands San Jose Real Estate Market Trends and statistics. Knowledge is power and the key to making informed San Jose Ca home buying and San Jose Ca home selling decisions.

Sell my home fast San Jose California

Certified San Jose Short Sale Specialist

Copyright © 2009, All Rights Reserved by Kathleen Daniels *San Jose California Short-Sale versus Foreclosure*

San Jose Short Sale Specialist

Kathleen Daniels Earns Prestigious Designation to Help Homeowners in Danger of Foreclosure

SAN JOSE, CA – OCTOBER 23, 2009 – KATHLEEN DANIELS of INTERO REAL ESTATE in SAN JOSE has earned the prestigious Certified Distressed Property Expert® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by DANIELS will help benefit SAN JOSE area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.

“The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales,” said DANIELS. “It is so rewarding to be able to help families avoid foreclosure.

Kathleen Daniels with the CDPE Designation has a valuable perspective on the market. Her training in short sales offers homeowners’ real alternatives to foreclosure, which can be devastating to credit ratings.

Kathleen also understands market conditions better than the average agent, and can help sellers through the complications of foreclosure avoidance.

“My goal is to help San Jose homeowners avoid foreclosure. I am committed to helping homeowners who are struggling and providing much-needed assistance in stabilizing San Jose communities,” Said DANIELS.

If you, or someone you know, is behind on their mortgage payment and do not know what to do, know that real help is available. Consult with Kathleen Daniels, a San Jose Short Sale Specialist and learn that you do have options. Understand there are solutions to foreclosure. What are you waiting for, time may be running out. Don’t wait until it is too late.

Kathleen Daniels – Certified San Jose Short Sale Specialist

Copyright © 2009, All Rights Reserved by Kathleen Daniels *San Jose Short Sale Specialist*

California Governor Schwarzenegger takes Action for Californian’s facing Foreclosure!

An emergency measure taken this week, Senate Bill 94 is effective immediately and will remain in effect through January 1, 2013. The action taken by California Governor Arnold Schwarzenegger was designed to prevent distressed homeowners from being taken by companies charging upfront fees for loan modifications and then abandoning them.

Senate Bill 94 prohibits foreclosure consultants, which includes attorneys who specialize in loan modifications and loan modification companies, from taking any compensation or fees before completing the service.

This new law may likely cause many law firms and individual legal practitioners previously engaged in providing loan modifications services to close their doors. The same may be true for loan modification companies which have historically provided services only with payment of upfront fees regardless of whether the loan modification was approved or denied by the servicer.

Only time will tell how many individuals and companies will remain committed to helping distressed homeowners facing foreclosure now that upfront payment for providing such services are prohibited.

Many truly dedicated real estate professionals provide loan modifications services at no cost to the homeowners with the understanding that if the loan modification is not approved, the homeowner will list the property with the agent and attempt to complete a short sale.

Senate Bill 94 is a big win for California homeowners facing foreclosure. It is now against the law to charge before completing a loan modification service.

Kathleen Daniels – Certified Short Sale Specialist

Intero San Jose Ca

Intero San Jose Ca

Number One in Silicon Valley

Copyright © 2009, All Rights Reserved by Kathleen Daniels *Schwarzenegger takes Action for Californian’s Facing Foreclosure*

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