Tag Archives: mortgage

What is a Zombie Foreclosure and Who is on the Hook?

Posted on May 5, 2013 | 1 comment

In a zombie foreclosure, the owner has gotten a foreclosure notice and subsequently packed up and moved, apparently thinking it’s over — the banks will finish the job. But many banks, for various reasons, haven’t followed through with the rest of the process, and the homes languish in the absent homeowners’ names.

And the homeowners, sometimes years later, find out they’re still on the hook for property taxes.

Contact the appraisers at www.scappraisals.com for your value questions.

There are about 302,000 “zombies,” according to RealtyTrac, a housing data company that studies foreclosure activity.

In an edited interview, RealtyTrac Vice President Daren Blomquist discussed how zombie foreclosures affect their communities (and, belatedly, their former owners), and where we seem to stand, as a nation, in our efforts to put the foreclosure horror show behind us.

Disclaimer: for information and entertainment purposes

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Posted in Mortgage Information

Tagged foreclosure, mortgage, property taxes, zombie

Mortgages Just for U.S. Military

Posted on April 8, 2013 | Leave a comment

With so many veterans in San Diego, it is incredible how underused VA housing loans are. The loans, organized by the United States Department of Veteran Affairs, offer a wide array of benefits to active duty personnel, veterans and spouses.

Many borrowers do not need large down payments and can avoid insurance premiums, penalty fees and high interest rates. VA home loans make buying a home simple and affordable. Some applicants even qualify for no-money down, 100 percent financing.

Contact the appraisers at www.scappraisals.com; they have VA Certified Appraisers that can assist you.

In many cases, it is easier to get a VA loan with a less-than-favorable credit score than a bank loan. In fact, Veteran Affairs does not require a minimum credit score, although lenders may have their own internal requirements. Unfortunately, many applicants do not take advantage of the VA loan system because they are not sure if they qualify or know how to start the process.

Most military members, veterans, reservists and National Guard members are eligible for a VA loan as well as surviving spouses of military members who died on active duty or as a result of a service-related injury.

Vahomeloancenters.org is one of the leading web resources providing information on eligibility requirements and home loan specifications.

Read entire article: http://www.utsandiego.com/news/2013/mar/20/veteran-affairs-loans-va-loan-mortgages-military/

Disclaimer: for information and entertainment purposes only

ALERT – New Housing Scam Emerges in California

Posted on March 15, 2012 | Leave a comment

If you’re applying for the $2 billion state-run program that helps struggling borrowers, remember, the process should be free from start to finish.

Contact the appraisers at www.socalappraisalserv.com to determine the value of your property before beginning any negotiations.

State officials have noticed an emerging scam: Callers say they will help homeowners apply for Keep Your Home California benefits for fees of up to $900. The calls are happening statewide. Applying for the program is free.

California, one of the hardest-hit states in the U.S., launched Keep Your Home California last year to help folks who’ve lost their jobs, seen their companies move away or watched their home equities plummet. It’s a bid let homeowners catch up on mortgage payments, help them relocate after a short sale and cut their principal, by far the most-controversial part of the program. So far, the program has helped about 12,000 borrowers, reflecting more than $200 million in aid.

Officials with Keep Your Home California, a program run by the California Housing Finance Agency, encourage Californians to call (888) 954-5337 instead of taking phone calls from solicitors about the program. You can also visit keepyourhomecalifornia.org.

Reprinted from SD Union Tribune