Phil & Celeste Pafford's (ppafford) Blog

Home Mortgage Interest Deduction? Six Billion... that is what Arnold is short in our 2011 California Budget.  New creative taxes will be sure to come, and the housing market is no exception.  This means things like a state wide transfer tax, and a service tax may be coming down the road... but mo...

So what are the Advantages of a Short Sale?  First, you avoid foreclosure and the guilt and stigma that goes along for the ride.  While a Short Sale is never described as a walk in the park, it certainly is the "lessor of two evils". Your credit will take a hit with a Short Sale, just not as much...

Short Sale and Loan Payments Just because you're considering a Short Sale, don't stop making the payment on your loan. It seems in the Short Sale climate, people are quick to stop making their loan payments in order to save some money.  While this logic may play out for the short term, it will ha...

What is a Short Sale?  A short sale is when a person needs to sell their home, but they owe more to the lender or bank than the home will sell for in the market. For example, a couple borrows $340k to purchase their home valued at $420k.  They may have taken out a "second" or home equity line of ...

What is a Short Sale? A short sale is when a person needs to sell their home, but they owe more to the lender or bank than the home will sell for in the market. For example, a couple borrows $340k to purchase their home valued at $420k.  They may have taken out a "second" or home equity line of c...

Homeowners and Water Heater Leaks Giant Cylinder of Destruction!  Okay, so I've always prided myself on being pro-active about maintenance on my automobiles, and also my home.  I knew my water heater was getting along in years (12 years old), and was thinking about my up and coming options. I kno...

So you decided to use your Uncle to be your Real Estate Agent or Broker for a purchase, rather than a knowledgeable local agent in the area you wish to move.  The good news is that he is your Uncle, an agent (at least part time), and you know him... the bad news is that he is your Uncle, and you ...