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Tax relief for borrowers with canceled or forgiven mortgage debt for 2013

7/28/14

The state of California recently passed Assembly Bill 1393 that says there are no state tax consequences if you have a home where the debt was cancelled or forgiven by the lender due to a principal reduction from a loan modification.  Say for example you renegotiated the loan on your house and the lender reduced your principle balance by […]

By |February 21st, 2018|Uncategorized|Comments Off on Tax relief for borrowers with canceled or forgiven mortgage debt for 2013|

Distress sales in Fresno County amount to 17% of all sales.

7/23/14

The Business Journal, a central valley news organization, reports amongst other things that distressed sales

of homes in Fresno County amount to 17% of all sales for the month of June, about the same as May.  However,

that’s much better than a year ago, 36% of all sales were distressed sales.

 

The Fresno County market continues to get better, albeit slowly.  There […]

By |February 20th, 2018|Uncategorized|Comments Off on Distress sales in Fresno County amount to 17% of all sales.|

Fannie Mae: Housing ‘remains a source of concern’

6/25/14

Fannie Mae, an abbreviated name for the Federal National Mortgage Association, and a huge mortgage purchaser in

the housing industry expects housing sales and prices to cool down this year.  Existing home sales fell

in the 1st quarter and rose in April and May, 2014.  They are expecting existing home sales to be down

by 2.4% for all of 2014 and new […]

By |February 19th, 2018|Uncategorized|Comments Off on Fannie Mae: Housing ‘remains a source of concern’|

Negative equity declines in Fresno area

The Business Journal, a local paper, indicated that just under 25 percent of all houses in the Fresno Metropolitan area have negative equity;  meaning the owner owes more than what their home is worth.  That’s a large drop from 2012.
This, I think, is a reflection of the increased appreciation in property values over the last year.  That’s good news […]

By |February 19th, 2018|Uncategorized|Comments Off on Negative equity declines in Fresno area|

Pros And Cons Of Selling Your Home To A Real Estate Investor

Forbes magazine has an interesting article with the above title: It goes into the pros and cons of selling to an investor. Since Central Cal Homes, Inc. does buy directly from Sellers as well, I thought it beneficial for prospective sellers to see the comments from an outsiders perspective.

The Pro’s are: 1) Flexible payment options. 2) Cash […]

By |February 18th, 2018|Uncategorized|Comments Off on Pros And Cons Of Selling Your Home To A Real Estate Investor|

Depending on location it could take longer to sell your home.

7/17/14

Guarantee Real Estate just reported that the number of homes for sale has increased and the number of days

the property is on the market has increased slightly year to date; the number of days on the market is the time it takes to

get a buyer, not when it actually closes escrow.  Our experience puts that number around 45 days.  […]

By |February 18th, 2018|Uncategorized|Comments Off on Depending on location it could take longer to sell your home.|

You May Qualify For A “HARP” Refinance Loan

12-4-13 – The Home Affordable Refinance Program, also known as HARP, is a federal program of the United States, set up by the Federal Housing Finance Agency in March 2009 to help underwater and near-underwater homeowners refinance their mortgages.  The application deadline is Dec 31, 2015.  To see if you qualify check out the HARP website!

By |February 16th, 2018|foreclosure, real estate, short sale, Uncategorized|Comments Off on You May Qualify For A “HARP” Refinance Loan|

Unemployment Mortgage Assistance

If you’ve received unemployment benefits within the last 30 days you could qualify for mortgage assistance.  Notice there’s a time parameter here.  If you’re about to lose you unemployment benefits, you need to hurry.  See it at Keep Your Home California

By |February 16th, 2018|Uncategorized|Comments Off on Unemployment Mortgage Assistance|

Settlement Provides 4 Billion in Aid To Distressed Borrowers

11-20-2013  J.P. Morgan Chase just settled with the Justice Department  over a variety of legal issues related to the mortgage debacle.  Apparently they were not forthright about the mortgages they sold on the secondary market.  They were weaker mortgages than advertised.  In the agreement J.P. Morgan is to provide 4 Billion in aid to distressed borrowers.  The use of […]

By |February 14th, 2018|foreclosure, real estate, short sale, Uncategorized|Comments Off on Settlement Provides 4 Billion in Aid To Distressed Borrowers|

Distressed sales still falling in Fresno

Distressed homes in Fresno County were 24 percent of all homes sold in December 2013. This is good compared to 52 percent in December of 2012. This is a reflection, in my opinion, of the increased values of homes compared to 2012. The median price appreciation was in the high teens, low 20’s for 2013.

For those of you […]

By |February 14th, 2018|Uncategorized|Comments Off on Distressed sales still falling in Fresno|