Market Update : foreclosure

Behind on House Payments? Facing Foreclosure?

Liane Thomas — Tue, 08 Dec 2009 15:44:00 GMT

What should you do if you are getting those calls and letters from your loan company because you are late on your house payments? Believe me, you are not alone! Here are some ideas to help you figure out what to do next...

First, don't panic, but act now. Take control by starting to act and plan. The thought of losing your home is scary for anyone. However, your best chance of getting the best result for you comes if you start planning and preparing right away to increase the chances of the best possible outcome among the alternatives available to you.

Watch out for scams. There are companies out there who promise to "Stop Foreclosure" "Save My Home" or "Credit Repair" but without bankruptcy. While bankruptcy is not the only way to do this, you must be careful, and you should get qualified advice about all your choices. A Chapter 13 Bankruptcy is your legal right and it is proven effective, with the right planning and the right legal advice. There are government programs, but to use them you need to know all your rights.

1. Collect and start keeping records. Start by collecting together and keeping all your records about your home and your mortgage loan. This includes all your loan papers and legal papers, any appraisals, any notices from your mortgage lenders which you may have gotten and anything you get in the future. Start taking notes of all your dealings with the lender, and start keeping proof of all payments you make. You may lose important rights if you do not keep these papers!

2. Assess your budget and your priorities, to see how well you can afford to pay the mortgage or pay back any past due payments. Incredibly, many people, under pressure from bill collectors, will pay credit card bills, leaving them no money to pay the mortgage. If you want to keep your home, the mortgage payment is more important. You have choices, and making the right choices early will increase your chances that things end up the way you want.

A personal and household Budget is your key. Spend the time to honestly and carefully look at what income you have coming in, and what are your expenses. A carefully prepared budget tells you, and anyone from whom you seek advice, what you can afford to do, and is critical to deciding what options are in your best interest. You can make your own, or call or email me for a free one.

3. Find out what your home is worth. Many REALTORS(R) will give you a complimentary "Comparative Market Analysis". Tell them that you want as accurate an idea of your home's value now, in its current condition. This is another important part of the picture. Don't have a REALTOR(R)? Call or email me for assistance in finding an expert in your area.

4. Don't just spend the unpaid mortgage payment. If your lender is no longer accepting payments, consider putting the amount of each monthly payment aside in a savings account. Just because the lender will not accept your payment does not mean you should spend it, unless there is another pressing need (like paying for food, medical care, or other critical needs). If you do decide to save your home by bankruptcy or another means, having some of the back payments will be helpful.

5. Most importantly, seek experienced advice right away to find out your best options as soon as possible. Keep in mind that doing nothing will make things worse. An experienced professional adviser should review with you all your options and be able to tell you the pluses and minuses of each.

Keep an open mind and consider all your choices. Sell? Refinance? Do a deal with the lender to catch up? Bankruptcy? Not all of them will make sense, or even be possible for you. Again, it depends on what you can afford to do, and what will work for you in the long term.

Brought to you by:

Liane Thomas, REALTOR®
The Thomas Group, Keller Williams Realty
1860 Compton Avenue
Corona, Ca 92881
Serving Corona, Norco, Riverside, and Surrounding Communities
951.454.3805
www.AllCoronaHomes.com

One in Four Borrowers is Underwater on their Home

Liane Thomas — Sun, 29 Nov 2009 10:04:00 GMT

One in four borrowers is underwater
Despite recent indicators that the housing market is improving,a new report shows that one in four mortgage borrowers are underwater, meaning they owe more on their mortgage than their home currently is worth. According to First American CoreLogic, nearly 10.7 million households had negative equity in their
homes in the third quarter, accounting for about 23 percent of all U.S. homeowners. Most homeowners, however, still have equity, and nearly 24 million owner-occupied homes do not have a mortgage, according to the U.S. Census Bureau.

A study by credit-scoring company Experian shows that approximately 588,000 borrowers strategically defaulted on their mortgages last year, even though they could afford to pay--more than double the number in 2007. Homeowners with negative equity are more likely to strategically default if they live in a state where the bank cannot pursue their assets in court, according to a study by the Federal Reserve Bank of Richmond. California is
an example of a state with anti-deficiency laws protecting homeowners from personal liability under certain circumstances.

"Borrowers who are less than 20 percent underwater are likely to maintain their mortgage if their loan is modified and the payments reduced," said an official with Citigroup's mortgage unit. "Beyond 120 percent, the most effective modification is a complete loan restructuring, including a principal reduction."

So what does this mean to you? If you are underwater on your home, you are not alone. And you do have options....loan modification, short sale, deed in lieu of foreclosure, foreclosure, and bankruptcy are just a few. Not sure what to do first? Call for a free consultation. We will help you find the options available to you, no cost, no obligation, no pressure.

Brought to you by:

Liane Thomas, REALTOR®
The Thomas Group, Keller Williams Realty
1860 Compton Avenue
Corona, Ca 92881
Serving Corona, Norco, Riverside, and Surrounding Communities
951.454.3805
www.AllCoronaHomes.com

What If..You Stop Making House Payments???

Liane Thomas — Sat, 21 Nov 2009 04:07:00 GMT

We all talk about what-ifs.

One big what-if many homeowners have today has to do with making house payments.

Many homeowners are underwater, meaning they owe more than the home is worth at today's depressed prices.

Some homeowners certainly are wondering why they're sending in the payment on, say, a $450,000 mortgage, when the house would sell today for only $250,000.

Your options: Keep paying, try to change your loan's terms, or sell and get the heck out!

But some people wonder, what if I just stop paying the mortgage? It may be a tempting idea, but it quickly leads to trouble.

Here's what could happen if you don't pay the mortgage:

• Report to the credit bureau — If your payment does not arrive, your lender or servicer will report this late payment to the credit bureau by the first day of the next month. This can happen in as little as two weeks from due date and put a negative mark on your credit report.

• Your credit score drops — The late payment report whacks your credit rating. Your credit score starts to drop, by up to 200 points, if this is your only late or missed payment.

• Cards are closed, rates rise — In the next 30 days, you can expect your other creditors to take note of the late payment and to take action. They can raise your interest rates, shut off your credit card entirely, or lower your credit limit. You also could face other changes in your financial life, because auto insurance, student loans and other forms of credit are pegged to your credit score.

• Tightening of credit lowers your score — Credit scores feed on themselves. If your credit card limits are lowered and you are carrying a balance, you are then using more of your available credit, something known as your utilization rate. When that goes up, it lowers your score some more. The negative mark stays on your credit report for seven years. But the impact on your credit score lessens over time. The biggest impact is for the first two years.

• Lender response — The phone will start ringing. Your lender will try to contact you to persuade you to go into a loan modification of some kind. But after 90 days, you cannot just start making payments again. The lender may send your payment back, if you send it this late and have not been in contact.

• What happens next — After four months of not paying your mortgage, you will likely be served with a foreclosure notice. If you don't respond within 20 days, then the lender, in the following 60 days, will ask a court to issue a judgment against you.

A county sale will be arranged 50 to 120 days after the judgment. Then, 120 days after the sale, the sheriff will be at the door. Ten days after that, you'll be thrown out of your home.

This schedule is a general one, however. If you hire a lawyer and fight the foreclosure, you may be able to delay the sale for many months or avoid it altogether.

If you are in this position, and not sure what to do, please call 951 454-3805 for a free, no obligation, consultation. We will explore the "What If's" with you, no pressure, and no cost.

Liane Thomas, REALTOR®
The Thomas Group, Keller Williams Realty
1860 Compton Avenue
Corona, Ca 92881
Serving Corona, Norco, Riverside, and Surrounding Communities
951.454.3805
www.AllCoronaHomes.com

Avoid Foreclosure

Liane Thomas — Sun, 26 Jul 2009 18:40:00 GMT

Home owners who are facing foreclosure often dread dealing with the facts that got them to that place. If they think back to when they first bought that home, losing their home was probably the furthest thing from their mind. Few home owners actually plan to go into foreclosure.

Reasons For Pending Foreclosure

Apart from those who knowingly participate in mortgage fraud, most homeowners are faced with a sudden and usually unexpected change in their circumstances that force them to stop making timely mortgage payments. Here are a few of those reasons:

Job Loss
Sudden illness or medical emergency
Death in the family
Divorce or loss of second income
Excessive debt obligations
Job demotion or promotion denials
Inability to pay an adjustable interest rate that increases
Unexpected major home maintenance expense

Ways to Avoid Foreclosure

The best way to avoid foreclosure is to prevent the filing of a Notice of Default. Lenders do not want to foreclose but will file a Notice of Default to protect their interests, if necessary. If you know you are unlikely to meet your mortgage obligation, the first thing you should do is call your lender.

Don't put it off, be embarrassed or ignore letters from your lender because those responses will make the situation worse, not better. Depending on your particular situation and hardship circumstances, here are some options your lender might propose to you:

Time to make up your payments.
Lenders might agree to wait before taking legal action against you and let you work out a repayment plan that is affordable for you. This is called forbearance.
Forgive a payment.
If you can agree on a way that you will be current after missing a payment or two (without the means to pay it back), the lender might give you a break and waive your obligation. This is called debt forgiveness, and it rarely happens.
Spread out the missed payments over a longer term.
For example, if your payment is, say, $1,200 a month, the lender might let you add $100 a month to each payment for a year until you are caught up.
Change the terms of your loan.
If your mortgage is an adjustable loan, the lender might freeze the interest rate before it increases or change the interest rate to a more manageable rate for you. A lender might also extend the amortization period.
Add the back payments to your loan balance.
If you have sufficient equity and meet the lender's lending guidelines, the lender might increase your loan balance to include the back payments and re-amortize the loan.
Make a separate loan to you.
Certain government loans contain provisions that let borrowers who meet specific criteria apply for another loan, which will pay back the missed payments.

Ways to Stop Foreclosure

When the lender files a Notice of Default, your options are limited. That is why it is better for you to call your lender before falling behind on your payments, because lenders are often reluctant to work out repayment schedules after foreclosure proceedings have been commenced.

You will be given a certain time period to bring the payments current, pay the costs of filing the foreclosure and stop the foreclosure. This is called reinstatement of your loan. If you cannot make up the missed payments and the lender will not work with you, here are a few other options to stop foreclosure:

Sell Your Home.
Interview at least 3 successful real estate agents who are well versed in foreclosure prevention. Get a realistic opinion of your homes market value and how long it will take to sell it. You might be tempted to hire a discount broker, but many sellers feel they need the exposure and marketing that full service brokers offer. Compare both to determine which best meets your needs and time frame.
Consider a Short Sale.
If your home is worth less than the amount you owe, you might be a candidate for a short sale. A short sale does affect your credit, but it's not as bad as a foreclosure. A good agent will negotiate with your lender to find out if the lender will cooperate on a short sale. Many times, the lender will cover the costs associated with a short sale.
Sign a Deed-in-Lieu of Foreclosure
This is called deeding the home back to the lender. The homeowner give the lender a properly prepared and notarized deed, and the lender forgives the mortgage, effectively canceling the foreclosure action.

If you are in a situation that could leave you facing a forclosure, please know you have options. Call for a free consultation.

Liane Thomas, REALTOR®, CDPE©

The Thomas Group, Keller Williams Realty

Serving Corona, Norco, Riverside, and surrounding communities

(951) 454-3805

www.AllCoronaHomes.com

www.FreeNorcoHomeSearch.com

www.FreeRiversideHomeSearch.com

Ca DRE #01704162

New 90 Day Foreclosure Rule in California

Liane Thomas — Thu, 18 Jun 2009 00:02:00 GMT

Recent news headlines have caused confusion by mischaracterizing the new California Foreclosure Prevention Act as a 90-day moratorium and incorrectly stating that the lender must modify delinquent loans before it begins foreclosure. In reality, the foreclosure process for certain owner-occupied residential first trust deeds has been extended by 90 days, effective June 15, but an exemption is available for lenders with comprehensive loan
modification programs as defined by the Act.

Under pre-existing law, a lender must wait three months after filing a notice of default before it can file a notice of sale. The new California Foreclosure Prevention Act extending that time frame by another 90 days may not have much practical impact.

So what does that mean to you? If you find yourself unable to make your monthly payment, first, call your loan servicer. The phone number should be on your payment coupons. Ask first for the Home Retention or Loan Modification Department. Then honestly explain your situation. Ask them to help you keep your home. Your loan servicer will not charge you for this service.

If you cannot get your loan modified, please call me. As a Certified Distressed Propery Expert, I can help you figure out what to do next. Foreclosure is not your only option.

Thanks,

Liane Thomas, REALTOR(R), e-PRO, CDPE
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside and surrounding communities
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com
951.454.3805

HOMEOWNERS BEWARE: Foreclosure Rescue Scams

Liane Thomas — Thu, 11 Jun 2009 13:28:00 GMT

Brought to you by your Realtor®, Liane Thomas, and the California Association of Realtors®

With the recent rise in foreclosures, foreclosure-related scams have exploded onto the real estate scene. These so-called “foreclosure rescue companies” claim they will help save your home, but in reality are out to make a profit -- at your expense.

Red Flags for Foreclosure Rescue Scams
If you are at risk of or in foreclosure, you should be on the lookout for foreclosure scams. Here are some of the red flags to watch out for:

• Asks for money upfront before providing any service
• Instructs you not to contact your lender, lawyer, housing counselor, family, friends, or others
• Asks for mortgage payments to be made directly to his or her company or a bank account set up by that person, rather than your lender.
• Requires payment only in the form of cash, cashier’s check, or wire transfer
• Promises to stop the foreclosure process, no matter the circumstances
• Advises you to transfer your property deed or title to his or her company
• Offers to fill out paperwork for you
• Asks for something to be done immediately and without delay. This includes pressuring you into signing paperwork that you have not had the chance to read thoroughly or do not fully understand
• Encourages you to lease your house and buy it back over time
• Offers to buy your house for a fixed price that is not set by the housing market at the time of sale
• Asks for you to give a power of attorney
• Asks for signatures on a grant deed or deed of trust
• Asks for signatures on a document that has lines left blank
• Fails to provide copies of signed documents
• Refuses or fails to put an oral promise in writing

Report Fraud
If you have been a victim of a foreclosure-related scam or approached by a scam artist, you may report the incident to the following organizations and government enforcement agencies:
• California Attorney General
http://ag.ca.gov
• California Department of Real Estate
www.dre.ca.gov
• Department of Housing and Urban Development (HUD)
www.hud.gov
• Federal Trade Commission (FTC)
www.ftc.gov
• Your local Better Business Bureau
www.bbb.org

Legitimate Resources
If you are at risk of foreclosure or have already received a foreclosure notice, you should contact your lender immediately.
Homeowners also may seek the advice of a reputable housing, financial or credit counselor, attorney, or other qualified professional.
Homeowners may visit the U.S. Department of Housing and Urban Development (HUD) Web site at http://www.hud.gov/ to view its Guide to Avoiding Foreclosure and its list of California HUD-approved housing counseling agencies. In addition, the non-profit Homeownership Preservation Foundation has a 24/7 toll-free Homeowner’s HOPE Hotline at (999) 995-HOPE.

Copyright© 2009 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reproduce this material for non-commercial purposes. Other
reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved.
The information contained herein is believed to be accurate as of April 9, 2009. It is intended to provide general answers to general questions and is not intended as a substitute for individual legal advice. Advice in specific situations may differ depending upon a wide variety of factors. Therefore, readers with specific legal questions should seek the advice of an attorney.

If you are facing foreclosure, we'd like to talk with you. We will explain what your options are, and where to go for help. There is no cost for this service.
Liane Thomas, REALTOR(R), and Certified Distressed Property Expert
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside, and surrounding communities
951 454-3805
www.AllCoronaHomes.com

Local REALTOR(R) Earns Prestigious Designation to Help Homeowners In Danger of Foreclosure

Liane Thomas — Tue, 09 Jun 2009 19:03:00 GMT

Liane Thomas of The Thomas Group, Keller Williams Realty in Corona Ca. has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.

Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though 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.

In the Corona area, thousands of homes are in danger of foreclosing. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said REALTOR(R) Liane Thomas. “It is so rewarding to be able to help sellers save their homes from foreclosure.”

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Liane Thomas with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.

The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.

“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.

For more information about CDPE designation, please call 1-800-482-0335. To reach Liane Thomas, please call 951 454-3805.

Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
Serving Corona, Norco, Riverside, and surrounding communities
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

Home Sales Jump ~ April 2009

Liane Thomas — Tue, 02 Jun 2009 19:02:00 GMT

Pending US Home Sales Surge

Pending US home sales skyrocketed to their highest number in 7 years, a sure sign that the bottom is forming and that bargain seekers have arrived. The National Association of Realtors reported that its seasonally adjusted index of sales contracts signed (the Pending Home Sales Index) jumped 6.7% to 90.3, well ahead of analysts' expectations. Lawrence Yun, NAR chief economist, said buyers have responded to favorable market conditions. "Housing affordability conditions have been at historic highs, but now the $8,000 first-time buyer tax credit is beginning to impact the market," he said. "Since first-time buyers must finalize their purchase by November 30 to get the credit, we expect greater activity in the months ahead, and that should spark more sales by repeat buyers."

So what does that mean to you? If you want to sell your home, this is probably the best time since 2006. Call me for a no obligation consultation to find out what your house is worth in todays market. We can help you sell your home fast, even if you owe more than your home is worth!

If you are considering buying a home, you MUST close escrow before the end of November to cash in on the tax credit. That means you need to be in escrow by September, and that means you need to be looking for a home TODAY! Please take advantage of this awesome opportunity pass you by!

Brought to you by:
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

CALIFORNIA HOMEOWNERS ARE BEING TARGETED BY CON ARTISTS OFFERING FORECLOSURE ASSISTANCE

Liane Thomas — Mon, 27 Apr 2009 01:56:00 GMT

CALIFORNIA HOMEOWNERS ARE BEING TARGETED BY CON ARTISTS OFFERING FORECLOSURE ASSISTANCE

The U.S. Department of Housing and Urban Development (HUD) has issued a warning that California homeowners are increasingly becoming the target of con artists trying to loot families of their bank accounts with phony promises to avoid foreclosure. HUD officials are warning homeowners seeking assistance to contact a local HUD-approved housing counseling agency instead of companies offering foreclosure assistance for a price.

"Foreclosures are hurting homeowners and communities, and now we see "financial looters" plying a "grab-and-go" strategy to con families out of their scarce dollars with empty promises and phony claims," said Caroline H. Krewson, HUD Deputy Regional Director for Region IX. "It's criminal when it happens in the wake of a natural disaster, and it's just as criminal when it happens to families facing financial disaster."

Congress has provided the U.S. Department of Housing and Urban Development and the Treasury with resources to assist families facing foreclosure at no cost to the homeowner. The public can find a HUD-approved housing counseling agency on HUD's website or call toll free (800) 569-4287 on weekdays between 9:00 a.m. and 5:00 p.m. Eastern Standard Time (6:00 a.m. to 2:00 p.m. Pacific Time) or call 1 (800) CALL-FHA. People can also find out more information about mortgage modifications and the Administration's Making Home Affordable Plan by visiting www.financialstability.gov.

HUD also warned that some homeowners are receiving emails and letters urging them to contact companies that have names that mislead the public by using variations of HUD's official name and site. The only official HUD website is at www.hud.gov and sites that end in hud.us-gov or hud.com or hudgov.us or any of a number of other addresses are not official HUD websites.

Examples of scams HUD include:

The foreclosure prevention specialist: The "specialist" really is a phony counselor who charges high fees in exchange for making a few phone calls or completing some paperwork that a homeowner could easily do for himself or herself. None of the actions results in saving the home. This scam gives homeowners a false sense of hope, delays them from seeking qualified help, and exposes their personal financial information to a fraudster.

Some of these companies even use names with the word HOPE or HOPE NOW in them to confuse borrowers. Borrowers should not be mislead. HOPE NOW provides foreclosure counseling assistance at its 1 (888) 995-(4673) HOPE hotline.
The lease/buy back: Homeowners are deceived into signing over the deed to their home to a scam artist who tells them they will be able to remain in the house as a renter and eventually buy it back. Usually, the terms of this scheme are so demanding that the buy-back becomes impossible, the homeowner gets evicted, and the "rescuer" walks off with most or all of the equity.
The bait-and-switch: Homeowners think they are signing documents to bring the mortgage current. Instead, they are signing over the deed to their home. Homeowners usually don't know they've been scammed until they get an eviction notice.
Equity skimming: In this type of scam, a "buyer" approaches you, offering to get you out of financial trouble by promising to pay off your mortgage or give you a sum of money when the property is sold. The "buyer" may suggest that you move out quickly and deed the property to him or her. The "buyer" then collects rent for a time, does not make any mortgage payments, and allows the lender to foreclose. Remember, signing over your deed to someone else does not necessarily relieve you of your obligation on your loan.

If you are approached with these offers, contact the local U.S. Department of Housing and Urban Development office at (415) 489-6400.

Questions? Want to know what your real options are? call or visit us online.

Liane Thomas, REALTOR(R)
www.AllCoronaHomes.com
951 454-3805

Are we near the bottom of the housing crisis? Freddie Mac says "YES"!

Liane Thomas — Mon, 20 Apr 2009 17:27:00 GMT

Freddie Mac says housing sales are near bottom

Frank Nothaft, chief economist of Freddie Mac, said on Saturday that housing
sales are nearing a bottom, with foreclosures accounting for a third of all
sales. But you knew there's a "but" coming, right? Yup...Nothaft added that
unemployment and house price declines will trigger foreclosures as prime
borrowers become delinquent and add to foreclosure risk. But he did point out
that Federal Housing Administration lending is up sharply, with FHA loans at the
largest share of the U.S. housing market since 1942, and mortgage rates at a
50-year low.

So what does this mean to you? If you are a home seller, it is likely prices are about done falling, and will likely remain stable for the short term. If you are a home buyer, the best bargains are out there now, don't wait any longer or you just might miss the boat!

Call today! We would love to help you realize your real estate goals!
Liane Thomas, REALTOR(R)
The Thomas Group, Keller Williams Realty
951.454.3805
www.AllCoronaHomes.com
www.FreeRiversideHomeSearch.com

What is a Short Sale and do I want one?

Liane Thomas — Fri, 26 Dec 2008 15:07:00 GMT

A short sale is when a lender accepts a discount on a mortgage to avoid a possible foreclosure. For example: A homeowner, who is facing foreclosure, has an existing first mortgage of $500,000. The market value of the home is $350,000.
Long story short, the lender accepts the offer for $350,000 and the home is sold.
That's a short sale.
Why would a lender do this? Banks do not like bad loans. If they can sell a home without the expense of a foreclosure, they will do it. Banks are in the business of lending money, not owning homes.
Time is not on your side when you are considering a short sale. You must act quickly and work only with a real estate expert who has the necessary skills to help you negotiate with your lender. You should interview 3 successful REALTORS(R) and they should be able to provide you with proof of their success helping other families with a short sale.
If you have more questions about whether a short sale is right for you, please call or email. We offer a free, no obligation consultation.
Thanks!
Liane Thomas
Thomas Realty Group
Serving Corona, Riverside, and the surrounding areas.
951 454-3805
Liane@LianeThomas.com
www.AllCoronaHomes.com

Open House in South Corona on Sunday

Liane Thomas — Thu, 11 Sep 2008 23:26:00 GMT

South Corona, Corona - We invite everyone to visit our open house at 1134 Pampas Circle on September 14 from 1:00 PM to 3:00 PM.

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Help for the Troubled Housing Market!

Liane Thomas — Fri, 15 Aug 2008 15:43:00 GMT

Finally we have some help for the troubled housing market. A law passed by the federal government and is one of the boldest and broadest pieces of legislation related to the real estate market since the great depression.

Among other relief details, the legislation devotes $300 billion to helping troubled homeowners avoid foreclosure.

Key provisions of the Housing and Economic Recovery Act of 2008

• A tax credit of up to $7,500 for qualifying first-time home buyers (repayable and interest-free over 15 years).

• An increase in loan limits for Fannie Mae, Freddie Mac, and FHA up to $625,500 with local limits set at 115% of the area median.

• A foreclosure rescue plan in which lenders would refinance homeowners with subprime and ARM reset loans into fixed-rate, 30-year mortgages backed by the Federal Housing Administration.

• A change in existing legislation that will eliminate seller-paid down payment assistance programs such as Nehemiah and the HART programs.

• New requirements for mortgage originators.

• A bailout plan for government-sponsored loan companies Fannie Mae and Freddie Mac, if it is needed.

• A grant of $3.9 billion in grants to the hardest hit communities for buying and fixing foreclosed property.

• $180 million for pre-foreclosure counseling and legal services for distressed borrowers

Additionally, states will receive and additional $11 billion in tax free municipal bond authority for low interest loans to first time home buyers, construction of low income rental housing and refinancing subprime mortgages.

If you want to know how this new law may help you, please call (951) 454-3805. We'd love to offer you some free information.

Get Paid Up To $7500 For Buying A House!

Liane Thomas — Fri, 15 Aug 2008 15:30:00 GMT

Did you know that a law was just passed that would help many home owners avoid foreclosure? Called the Housing and Economic Recovery Act of 2008, this is one of the boldest and broadest pieces of legislation related to the real estate market since the great depression. As part of this law, the government will give you a tax credit up to $7500 if you buy a home this year.

What this means to you: If you buy a house this year, you will get an instant tax credit of up to $7500 when you file in the spring of 2009. A few restrictions apply, so please call (951) 454-3805 if you would like more information about this historic legislation. We would love to help you find the home of your dreams, and save $7500 off your taxes, too!

Thank you!

Thomas Realty Group, Inc.

951 454-3805

www.AllCoronaHomes.com

www.FreeRiversideHomeSearch.com

Price Reduced on 4255 4th Street in Downtown

Liane Thomas — Tue, 06 May 2008 05:03:00 GMT

Downtown, Riverside - Announcing a price reduction on 4255 4th Street, a 765 sq. ft., 1 bath, 2 bdrm single story. Now MLS® $200,000 - Reduced!.

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