Home Foreclosure and Debt Cancellation Update Dec. 11, 2008 — The Mortgage Forgiveness Debt Relief Act of 2007 generally allows taxpayers to exclude income from the discharge of debt on their principal residence. Debt reduced through mortgage restructuring, as well as mortgage debt forgiven in connection with a foreclosure, qualify for this relief. This provision applies to debt forgiven in calendar years 2007 through 2012. Up to $2 million of forgiven debt is eligible for this exclusion ($1 million if married filing separately). The exclusion doesn’t apply if the discharge is due to services performed for the lender or any other reason not directly related to a decline in the home’s value or the taxpayer’s financial condition. The amount excluded reduces the taxpayer’s cost basis in th... 08/19/2009

Estimado visitante, he decidido escribir este mensaje en español para todas aquellas personas que tienen dudas con respecto a que hacer con su casa cuando ya no pueden pagarla y falta información en el idioma español. Cuando usted tiene una problema que afecta su situación actual para efectuar sus pagos, antes de tomar la decisión si hacer una modificación o hacer una venta corta (Short-Sale) tiene que considerar lo siguiente: 1) Que problema tiene actualmente que le esta afectando para hacer sus pagos, (Ejemplo: Pérdida de empleo, Reducción de salario, pérdida de algún familiar que ayudaba a hacer los pagos, Problemas de Salud, Problemas con la ley (algún miembro está en la cárcel). 2) Una vez que sabe el motivo por el cual no puede hacer los pagos, analice si esta situación es tempora... 08/19/2009

I am pulling my hair over this subject.What can I recommend to my clients, people that call me or contact me via email in regards to this concerns.I must touch my heart and spill out my...... on this.Let's face it nobody wants to tell their clients what is best, if their interest on a Loan Modification is the one reason home owner care the most.They don't like to hear foreclosure, short sale or BK as and option.Banks are not correcting the problem by lowering the loan amount. they are only buying time for what it is foreseeable.Home owner will not remain on a Modification program when they see their home value creeping down.Who will, I won't, would you?Let's face it. Why would I continue to make payments on a property that has lost almost half of it's value.How about this... Your neighb... 07/29/2009

RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.orangecountyshortsalerealtor.com   If you are in a situation where: • You lost your job •Your Medical Expenses are too high •Just went through/going through a divorce •You are behind on your payments •You have no equity •You can't afford the cost of selling your home •Your income has been reduced • You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: • Avoid Foreclosure • Avoid Bankruptcy • Reduced damage to your credit • Postpone your foreclosure sale date • A short sale will stay on your credit appr... 07/14/2009

Home Sales in Anaheimare really changing.  We are seeing the numbers of homes that sold per week increase by 45% over last year.  As far a inventory or available homes for sale, we are seeing a huge drop in numbers, minus 38%, which is really limiting the choice by buyers.  For the "deals" or REO homes for sale, new listing of bank owned homes is at 38% of one year ago. Anaheim currently has only 391 homes for sale, 263 being single family homes, with the remainder of 128 being condos.  Anaheim real estate is very short in supply.  Check for comparable neighborhood prices at www.foustonline.com, Home searches will help you to see what the market is saying.  Also review neighborhoods to get a comparison of the areas. 06/30/2009

Anaheim Short Sale Another success !!!!!!!! The seller had owned the home for 14 years and had refinanced multiple times. He had one loan for $ 490,000 We received an offer for $ 335,000 with in 4 weeks of listing agreement. The short sale took 5 weeks to get approved by the lender. Then 30 days to close escrow. 1st lender accepted $ 292,800 The bank paid all past due taxes, termite work, escrow, title and commissions. This seller received a full settlement.  Interested in short selling your home contact Ann Urias with ReMax Homes and Estates Pre-Foreclosure division.   www.orangecountyshortsalerealtor.com for more info. List with an experienced Orange County Short Sale Realtor. 06/15/2009

THIS IS NOT A SHORT SALE OR REO, IT'S A REGULAR SALE!!!! NICE SINGLE STORY HOME IN DESIRABLE EAST ANAHEIM AREA. CLOSE TO FREEWAY, SHOPPING AND SCHOOLS. CENTRAL AIR AND HEAT, FAMILY ROOM, LAUNDRY ROOM, GOOD SIZE BACK YARD. BRING YOUR PAINT BRUSH, COSMETIC FIX UP NEEDED. LOTS OF POTENTIAL. More Info at 1013 S Chantilly St Anaheim, CA 92806   06/10/2009

While attending one of my monthly meetings with fellow real estate agents yesterday I was informed of this great program for First Time Home Buyers who are seeking a home in the city of Anaheim, California. After reviewing this information I discovered that one of my buyer's can qualify based on the criteria the city has established for this program. So to keep it simple and direct I have decided to allow the links to the program to do all the talking. For information on this programs information and guide lines just click on this link Anaheim (CA) $125,000 Down Payment Assistance Program. For information on this programs Eligible Census Tracts just click on this link Maps. 06/10/2009

Last month while in Los Angeles, Mark Cooper made a quick trip to downtown disney. (the recent addition to disneyland that includes resturants, shops, and street venders, WITHOUT RIDES). A nice feature of downtown disney is the free parking and the lack of admission charge. Mark Cooper's goal was "Build-a-Bear", with the intention of picking up a gift certificate for a kids birthday party. While strolling down the street, Mark was surprised to find many signs that said "coming soon, an exciting new addition to downtown disney". Read between the lines, even DISNEYLAND has vacant retail space right now. Thats right, its not just commercial real estate in San Francisco, KW Commercial sees things are tough all over and retail, even in downtown disney is hurting. this amusement park story su... 06/03/2009

RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.ReMaxAnn.com   If you are in a situation where: •You lost your job •Your Medical Expenses are too high •Just went through/going through a divorce •You are behind on your payments •You have no equity •You can't afford the cost of selling your home •Your income has been reduced •You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale: •Avoid Foreclosure •Avoid Bankruptcy •Reduced damage to your credit •Postpone your foreclosure sale date •A short sale will stay on your credit approx 3 years •BE FREE of fina... 05/19/2009

Anaheim CA. - Short Sale Realtor Success Story - The ShortSalesASAP brokerage firm specializes in Short Sales in Anaheim and throughout Orange County, CA. We will outline a completed Short Sale for a detached home located in Anaheim, Ca. that was listed, negotiated and sold by Realtor expert, Nick Roshdieh. Certain details of this short sale such as; property address, exact loan amounts, and names will not be quoted exactly to respect the privacy of the previous homeowner. Anaheim and Orange County Market Conditions: Because of the severe local housing market recession, and the national mortgage loan crisis, housing values have decreased substantially in Orange County California as well as Anaheim. Prices have been dropping about 1% per month for the past 2.5 years, but there are now si... 04/20/2009

Why not?  Don't we need to know the status of those that we are about to spend our limited time with?  I certainly feel that a buyer needs to at least pass a simplified test.  That test to me is the pre-qualification with a lender test.  Is that really to much to ask?  Isn't it prudent for them to find out how much they can afford (be approved for) in order to establish the criteria of homes we go out to see.  My number one rule is to push for the buyer to get the pre-approval before we "show" homes.  I know (and have had) some buyers prefer to "look first" and then apply for the loan -- but this is a disaster waisting to happen.  IF a buyer will not get pre-approved or a least call a lender, then how serious are they?  I for one can not spend my time(and that is what we are selling) sh... 04/19/2009

City of Anaheim NEIGHBORHOOD STABILIZATION PROGRAM  Homebuyer Down Payment Assistance Up to $125,000 for Foreclosed Homes   City of Anaheim’s Neighborhood Stabilization Program (NSP). The City provides homebuyer down payment assistance up to $125,000 to purchase a foreclosed home within eligible census tracts in Anaheim. Unfortunately it is First-come, First-serve basis. Preference is given to households that live or work in Anaheim. For the complete Application package and Eligibility information please call me 714.943.0444 and I will email you the STABILIZATION PROGRAM Package.   04/19/2009

RE/MAX Homes & Estates Pre-Foreclosure Division 9241 Irvine Boulevard, Suite 150, Irvine, California 92618 (714) 588 -7676 ∙  www.ReMaxAnn.com   If you are in a situation where: •You lost your job •Your Medical Expenses are too high •Just went through/going through a divorce •You are behind on your payments •You have no equity •You can't afford the cost of selling your home •Your income has been reduced •You are in foreclosure   WE CAN HELP YOU! It's easy and doesn't cost you any MONEY! Our services are Free!!! WHEN THE DEBT EXCEEDS YOUR HOME'S VALUE... we can help is with a SHORT SALE.   Benefits of a Short Sale:  •Avoid Foreclosure •Avoid Bankruptcy •Reduced damage to your credit •Postpone your foreclosure sale date •A short sale will stay on your credit approx 3 years •BE FREE of fin... 04/07/2009

Why do we have to even say this?  Isn't it common knowledge?  But alas, it is not all that common.  For instance today I watched a couple come into the office for a 1PM appointment with a Realtor.  They were 5 minutes early and the agent was in the back room -- supposedly working on paper work.  The agent never came out to greet them at all and in fact the clients were just sitting around waiting for her to show up.  Needless to say after they asked about her twice, they were getting irritated, very irritated.  I called her and she said to give them coffee or water and put them in a conference room.  No conference room was available at that time.  I finally got feed up and went to the agents desk and told her they were still waiting.  She wanted me to stall them - I SAID TO GET OUT HERE... 04/06/2009

Data for March 2009. Please drop by regularly for new Data. The only tool that gives you a real edge in gathering real estate data and keeps you updated. These statistics is the only product that gives you complex-graphs-made-simple. With these statistics you get an exclusive view of inventory in months' supply, comparing results from city-to-city, the ability to provide to you local and nearby competitive circumstances, confidence to list it at the right price from the beginning, or validate a request for a list price reduction, exclusive Active-to-Pending ratio results provide you with the best real time pulse of the market, the current buyer demand for any property, price and category, comparing what sellers are asking on a cost-per-square-foot basis, to what buyers are currently wil... 04/02/2009

Through the California Association of Realtors (C.A.R.) Housing Affordability Fund Mortgage Protection Program first-time home buyers who lose their jobs due to layoffs may be eligible to receive up to $1,500 per month for up to six months to help make their mortgage payments. A qualified co-buyer also can participate in the program, for a reduced monthly benefit of $750 per month for up to six months in the event of a job loss. Program benefits also include coverage for accidental disability and a $10,000 death benefit. C.A.R.’s Housing Affordability Fund is dedicating $1 million to the program this year, and estimates that as many as 3,000 families will benefit from the program throughout 2009. To qualify for the Mortgage Protection Program, applicants must:. Be a first-time home buye... 03/31/2009

Now that the taxpayers have finally spoken (fired the head of GM), it is time to go after some other culprits too.  I am talking about the union leaders.  They had a big hand in the downfall of the auto industry.  It may not be entirely the current union presidents fault, but that is true for the current CEO of GM too.  We have to set an example for the future, and believe you me, the message will be heard by the future CEO and union presidents.  Major changes are required. 03/30/2009

All photographs are taken and posted by Sharon Paxson, copyright© 2009.  All rights reserved. Photographs may not be copied, or reproduced without the express, written permission of Sharon Paxson, Realtor, Prudential California Realty, Newport Beach.. All rights reserved.  Contact Sharon Paxson for permission for use of photograph, and permission may be granted with writen instructions. 03/29/2009

03/26/2009