Loan Modification Sample Hardship Letter Loan Modification Hardship Letter As unfortunate as it is having to write about the subject of hardships, loan modifications, and short sales, I feel compelled to post an article to clarify the loan modification process and the importance of a well written, well thought out hardship letter.  As you may have guessed, you will also need a hardship letter should you attempt to get an authorization for a short sale. Lenders currently have an outrageous number of loan modification and short sale requests.  They are literally stacked on asset managers' desks.  With this in mind, it is in your interest, when deciding what to put in a hardship letter, to put forth your best argument as to why you are a good candidate for a loan modification.  For the pu... 10/08/2008

Photo GalleryDescriptionLocated in the Sierra Del Oro neighborhood in West Corona, just 3 minutes from Orange County.FeaturesBedrooms: 3Bathrooms: 2Parking Spaces: 4Year Built: 1988Lot Size: 5662Garage Size: 2School District: Corona Norco Unified Schood DistrictSquare Footage: 1700Agent Name: Cameron NovakBroker: The Homefinding CenterMLS #: K001Location4300 Green River Rd. #118 Corona CA 92880Powered by vFlyer.comvFlyer Id: 1919391 10/07/2008

Eastvale Short Sales, Corona, California Eastvale Short SalesAs the majority of Eastvale residents of Corona, California can attest, the number of foreclosure sales in our community has had a devastating effect on home values. Some homes have lost as much as 50% of their value in the past 2+ years.  As a result of this value decline many Eastvale residents find it necessary to sell their homes, but find the value of their home isn't sufficient to pay off the mortgage owed to the lien holder (bank). The importance of working with a real estate broker with a track record of successfully assisting homeowners with short-pay (short sale) situations cannot be overstated. The following is an absolute must if your goal is to obtain a loan modification OR short-pay (or short sale) approval: You... 10/02/2008

The Corona Chamber of Commerce's 2008 Business Expo will soon be here!  Be sure to mark your calanders as you won't want to miss this great opportunity to meet some of the many businesses at the Chamber of Commerce, all in one place!  Come on over to the Crossroads Church (located at 2331 Kellogg Ave. just off Ontario St. in Corona) on Tuesday October 7th beginning at 9:00am.  This yearly event features many local vendors, services, and programs located here in Corona.  For more information please contact the Chamber of Commerce at (951) 737-3350. 10/02/2008

Corona Short Sales Corona Short Sales and PMI disasters Corona homeowners beware... If you are a Corona homeowner and are considering a short sale solution to your negative equity position, you'll definitely need to know if you currently pay PMI (mortgage insurance).  PMI companies are fast becoming thorns in the side of those negotiating with the banks towards selling their homes short (short pay or more commonly called... Short Sale). If you have PMI, please let your agent know up front when explaining your situation so they will know how to proceed on your behalf.  These companies can be dealt with during the short sale process, but they typically are looking for some type of seller concession.  Make sure you have an agent who will agressively negotiate on your behalf with all parti... 10/01/2008

Short Sale Primer for homeowners and agents Currently, there are many thousands of homeowners, facing foreclosure, who choose to attempt selling their home under short sale terms and either don't know, or are not informed of the legal requirements of a home seller, especially when involved in a short sale. The fact that a homeowner is listing his/her home as a short sale listing, does NOT excuse them from their legal responsibilities. What legal responsibility you might ask? My primer will focus on just one legal aspect which most homeowners (and agents unfortunately) don't know. Under our standard contract of sale in California, the seller of record represents that they are able to deliver marketable title to the buyer. What this means is that the seller is claiming that he/she has th... 09/29/2008

Eagle Glen Short Sales and Foreclosures Eagle Glen Short Sales As many Eagle Glen residents can attest, the number of foreclosure home sales in our community has had a devastating effect on home values. As a result of this value decline many Eagle Glen home owners find it necessary to sell their homes, but find the value of their home isn't sufficient to pay off the mortgage owed to the lien holder (bank). The importance of working with a real estate broker with a track record of successfully assisting homeowners with short-pay situations cannot be overstated. The following is an absolute must when initiating negotiations with the bank for loan modification OR short-pay (or short sale) approval: You must hire a broker who knows how to contact the lender's loss mitigation department wit... 09/26/2008

The 10th annual "Walk for Health" Hosted by The Foundation for Community and Family Health will be held this Saturday, September 27th, 2008.  The City of Corona, and thousands of Inland Empire residents will gather together on the South Lawn of Corona City Hall to join the cause and fight  against Breast Cancer.  The purpose of the walk is to raise awareness & funds for the Breast Health Detection program.  The Breast Health Detection program was created to help women under 40 who have no insurance or who are under insured.  The program will provide women the necessary breast diagnostic care they need, as well as health screenings and prevention education.  For more information please call The Foundation at: 951-270-0536.       09/20/2008

Corona First Time Buyers Assistance City of Corona ponders loan assistance to Corona, California homebuyers The Corona City Council will vote tonight on a program offering 1.5 million dollars in interest free loans to moderate income Corona families to purchase their first home. Ready for the bad news??? The funds made available by this program would ONLY HELP 20 FAMILIES with the $75,000 loan. Incredibly, the city council apparently doesn't understand the economic dynamics of this program. They've spent countless hours considering how to put the program together, and don't understand that assisting lower income families to buy 20 Corona homes will do ABSOLUTELY NOTHING to affect the current inventory of over 2,000 homes in the city. Why doesn't the city council spend the 1.5mil on com... 09/17/2008

No matter what the market, people will continue to desire to live in Corona, as it remains one of the most active cities within Riverside County. Comparatively speaking, the Corona housing market continues to post brisk sales.  In of July 2008, 271 single family homes and a total of 18 condos/townhomes sold, down 226 from last month.  My overall view of the market is still slipping more so in 92881 and 92882. Click Here to view the Riverside County market report. Closed Sales for July 2008: Up 59 from last month384 Single Family Homes17 Condos/TownhomesPending Sales for July 2008: Up 5 from last month726 Single Family Homes45 Condos/TownhomesCurrent Actives as of Today's Post: Up 5 from last month1270 Single Family Homes145 Condos/TownhomesForeclosure Activity for July 2008 92879 - 97 N... 09/08/2008

FREE- Concert Series at the Dos Lagos Amphitheater presented by Walters Automotive Group.Time: 7:00 – 9:00 pm. Location: Dos Lagos Amphitheater2755 Lakeshore DriveCorona, CA 92883 Directions: I-15 fwy. Exit Weirick Rd./Dos Lagos Dr.,  Left on Temescal Canyon Rd., Left onto Lakeshore Dr.                                               Preformance Dates & Musicians: September 6th - Chelsea Lena                               September 13th – Amy Scruggs                                September 20th – Shawn Jones                                September 27th – The SilveradosAnniversary Celebration! October 4th- Benise with special guest Karen Briggs You'll want to be sure to mark your calendars & come out to Dos Lagos and enjoy these FREE Saturday nights Concert Series! There is plenty of ava... 09/05/2008

Circle City Drive Shooting Death Police related shooting fatality in Corona, California As rare as it may be in Corona, the occasional shooting does happen.  Today was the day.  A 24 year old hispanic car jacking suspect was shot by a Corona Police Department Officer after being called to the location on a possible DUI.  After a short chase, the officer shot at the suspect who had reached for what looked like a gun.  The suspect died in the hospital a short time later.  This occured near Circle City Drive (not the best neighborhood in town) just off 6th street in Corona, California. Cameron Novak Corona Real Estate Broker The Homefinding CenterTM Corona, California 951-212-7479     09/01/2008

Citrus Community ParkRimpau Ave. at Taber StreetCost: FreeHours Open: 9a.m. to duskMay through September The Citrus-themed water playground is Corona’s very first water park. The parks design element is based from Corona’s Citrus history with plenty of seating around the park shaped like old fruit box crates, with an Orange shaped playground which includes 11 interactive water features.There are water tunnels, water cannons, an aqua dome, and spraying jets.  The park is almost 3,000 square feet and uses 4,000 gallons of water, which is captured and cleaned for reuse.   The Water Park was primarily the idea born from Michael and Mary Vasquez of Corona, who are the owners of Miguel Junior’s family Restaurant chain.  The Vasquez family would frequently visit Corona’s City Park on Sunday w... 08/26/2008

Free Houses In Corona! ??? Amazing as this may sound... it's absolutely true!  No silly, not free houses... what happened this afternoon.  I actually had a client walk into The Homefinding Center and tell me that someone told him that Corona is a ghost town and that you can get a home for free there.  Of course, I thought he was exaggerating and meant that there are many foreclosure homes and that you could get a great deal on a home (which is true), but he was dead serious.  After speaking with him for a few minutes, I realized he was talking about a rental home & he really thought he could move into a home in Corona and only have to cover the utilities !!!   How's that for a doozy?  I have many clients looking for terrific deals.... some of which want a super terrific deal... but nev... 08/25/2008

Doc reviews for discrepancies?? I have been approached twice in the past week by companies who will have attorneys scrutinize an owner's loan docs for problems/violations.  If they find something abnormal, they will put some serious pressure on the lender to change the terms of the loan to a much more agressive interest rate or repayment schedule.  Has anyone had any experience with this type of service provider?  I'd like some feedback as both of the people who approached our office sounded like a used car salesman.  I'm skeptical at this point. Cameron Novak Corona Real Estate Broker The Homefinding CenterTM Corona, California 951-212-7479 Chat About Corona Real Estate 24/7/365   08/14/2008

Event date:  Saturday, August 16, 2008 Time: Luau begins at 6 p.m. Where: Heritage park-510 West Foothill Parkway, Corona, CA 92882 Phone: (951) 898-0687 Don't miss out on this years Isle of Corona's Summer Luau at Heritage Park.  There you, family and friends will experience the traditional style luau with great exotic food (featuring a kalua pig, teriyaki chicken and lomi lomi salmon) drinks, and hot island entertainment.This date also celebrates the time when Hawaii became a state in 1959.  Tickets on sale now: Tuesday - Saturdays, 10 am - 2 pm. Discount pre-sale adult tickets are $45 each or $50 the day of the event if not sold out.Ages twelve and under pre-sale are $30 each or $35 the day of the event.*All proceeds will fund construction of new handicap accessto some of the more d... 08/13/2008

Corona Dive-In Movies Corona, California Family Movie Nights and DIVE-IN Movies If you missed the fun of watching "Surf's Up" at Corona's Centennial High School's Pool on the 5th, or City Park on the 8th, you still have time to get in on some movie fun at the pool.  You can catch "Shrek the 3rd" on August 15th at City Park.  "The Last Mimzy" plays on August 19th at Centennial Pool and on August 22nd at the City Park Fiesta Bandshell.  The summer movies wrap up with the lovable animated "Cars" playing on August 26th at Centennial High School and on August 29th at City Park.  Movies start very near dusk and you should plan on being early (approximately 7:30-7:45pm).  You can call for additional details at 951-736-2241. If you have an item of interest in Corona... email CoronaNews@homefin... 08/12/2008

Sierra Del Oro's Prado View Elementary As many of you are now aware, the new school schedule for California Distinguished School, Prado View Elementary, is now in effect.  All students are on the same schedule and there will be no multiple tracks from this point forward. You may view the School Accountability Report Cards for your child's Corona/Norco school at the school district's website: www.cnusd.k12.ca.us   Bookmark this page and return frequently for updates for Sierra Del Oro. If you have an item of interest in the Sierra Del Oro... email SierraDelOro@homefindinginfo.com and I'll add any appropriate content to the site.   Cameron Novak Sierra Del Oro Real Estate Broker The Homefinding CenterTM Corona, California 951-212-7479 Chat About Sierra Del Oro Real Estate 24/7/365   08/07/2008

Ever wonder why you don't see  graffiti in Corona, California? You show me a city where adolescents live, and I'll show you graffiti.  Many cities however, do not have a handle on the problem and the graffiti that sits in public view encourages others to tag items with graffiti supplementing or in contrast to the graffiti already present. Corona, California is doing something about it.  The Corona Public Works department heads up the Graffiti Removal Team which is on call daily to respond to graffiti calls that come in to the Corona Graffiti Hotline (951) 817-5841.  You will rarely see any graffiti in Corona, but when you do... you won't see it when you pass by the next day!  Way to go Corona!!!  Now I see why Homefindinginfo.com lists Corona, California as the "Most Desireable City In... 08/06/2008

Throughout Corona, Purple ribbons are hung every August in memory of 6-month-old Kaitlyn Russell.  In August 2000 Kaitlyn was left alone in her babysitter’s car for at least two hours while the sitter visited with friends. Authorities estimated the temperature had reached 130 degrees in the locked car by the time the child was found. Purple Ribbon month is sponsored by a nonprofit organization called, "4 R Kids’ Sake." This organization was established by Kaitlyn Russels family in effort to educate the public of the danger of leaving children unattended in an vehicle. In 2001, The California State Legislature, passed "Kaitlyn's Law," also known as the  “Unattended Child in a Motor Vehicle Act.”  It is illegal for any child younger than 6 to be left in an automobile without the supervis... 08/04/2008