San Francisco Real Estate and the Holidays

Are you thinking of buying or selling your home? Perhaps you’re expanding and considering your current home as an investment property and entering it in the rental market? The 4th quarter is historically filled with low-inventory and quiet real estate offices. The holidays are a wonderful time to begin exploring your options. To begin, set your financial house in order. File tax returns early to ease the process and align with a trusted mortgage lender. Connect with your financial planner

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Loan Modification Attorneys Under Investigation

The State Bar of California has recently launched numerous investigations against attorneys for misconduct related to loan modifications. In a rare move, the State Bar has released the names of 16 attorneys under investigation, by opting to waive investigation confidentiality in favor of public protection. These attorneys have allegedly taken fees for promised services, but failed to perform those services or even communicate with their clients who face the possible loss of their homes. Their non-attorney staff may also be

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Real Estate Owned, Short Sales and San Francisco

Foreclosure Sale (REO): a foreclosure/REO sale is the sale of a home by the financial institution which foreclosed upon it. (The term “REO” refers to the bank department “Real Estate Owned”.) Short Sale: a sale in which the existing property loans, other monetary liens and costs of sale exceed the sale price – i.e. the owner owes more than the property is worth. In a short sale, the lien holders—typically the bank(s)—have to agree to a reduced payoff for the

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Dept of Real Estate issues fraud warning on Loan Mod's

The DRE recently issued a fraud warning alerting consumers about loan modification scams and informing consumers of what they can do to protect themselves. The alert is available in both English and Spanish. Last July, the DRE had fewer than 10 complaints involving loan modification companies; today the department has 750 pending investigations. In addition, since last October, the DRE has filed more than 200 Desist and Refrain Orders. A list of the companies and persons the DRE has filed

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Loan Modification Guidelines & $729,750 Jumbo Conforming Loan Qualify

The 17 page document that came out yesterday on FinancialStability.gov, outlines in detail, who qualifies for mortgage modifications.   Fortunately they had the foresight to include jumbo conforming rates ($729,750) into the program which will certainly help San Francisco homeowners.  It’s a clearly written document which no doubt will leave you with a few questions, but is the best place to begin if you are in the ‘I need/want my loan modified’ category.  

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