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From the monthly archives:

July 2009

Information on Loan Modifications and Short Sales

July 31, 2009

Information on Loan Modifications and Short Sales, Irvine CA
Loan Modification, OC Home Help
A Loan Modification is a permanent change in one or more of the terms of a mortgagor’s loan allowing the loan to be modified into a payment the mortgagor can afford.

Are you behind in your mortgage payments?
Has your income changed as a result [...]

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Loan Modification

July 29, 2009

Loan Modification
A Loan modification is a modification to an existing loan made by a lender in response to a borrower’s long-term inability to repay the loan. Loan modifications typically involve a reduction in the principal balance, interest rate or an extension of the length of the term of the loan. In some cases a different [...]

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Foreclosure or Short Sale?

July 28, 2009

Foreclosure or Short Sale
The question always comes up, “Is it better to do a short sale than go through foreclosure?” The circumstances that lead up to the loss play a roll in the final answer along with the timing of how soon someone can purchase another home. These are the guidelines in place by FNMA [...]

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Another wave of foreclosures is poised to strike

July 7, 2009

Another wave of foreclosures is poised to strike
Mortgage defaults have surged to record levels
By Don Lee, 7/4/09 story sited at the bottom..
Reporting from Washington — Just as the nation’s housing market has begun showing signs of stabilizing, another wave of foreclosures is poised to strike, possibly as early as this summer, inflicting new punishment [...]

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When will this end! OC Home Help can help!

July 2, 2009

When will this end! OC Home Help can help!
Without massive government intervention in the trillions of dollars the current situation will continue until 2012.
This is due to the number of 100% adjustable rate loans that were funded in 2005 and 2005.
The first wave of foreclosures in 2007 were the result of 2005 two year adjustable [...]

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