Just found this and had to share it!

http://www.xtranormal.com/watch/8115931/

Follow link or just copy and paste it into your Browser’s address bar.

It’s Finally here! SB931! It’s Finally here!

Have you heard?! SB931! SB931! What is it? What does it mean to a person trying to short Sale their home? In the state of California SB931 just went into effect on January 1st, 2011. What the bill states is that the lien holders, can no longer go after the home owners for a deficiency on their primary loan. So…what that means in real terms English is that if you short sale your house they cannot come after you for any amount of money. That’s for the first lien holders. Now if you have a second or an equity line, they still might be able to try and get you for a promissory note, but if you only have one loan, you’re in the clear. You are in the clear. SB931 it’s the answer you’ve been waiting for.
This is Kerri from the Bay Area Short Sale Angels where we believe that there is nothing worse than doing nothing.

Something Good for Renters

I want to answer a question today that I often get phone calls on. So this one doesn’t really have anything to do with buying or selling property. What it does have to do with is, if you’re a renter what happens to you if the house you live in gets foreclosed on? Scary idea and it’s happening all the time. Your just paying your rent, sending the rent check in every month and all of the sudden there’s a notice on your door that the house is either going into or has been foreclosed on. What does it mean? Does it mean you have to leave? No. You don’t have to leave. Depending on what city you live in and what their rental laws are for tenants rights, Then you may have to leave in 60 days of the bank asks you to leave, but you have 60 days don’t let them tell you that you have anything less than that. If you do live in an area such as Oakland or Berkeley that has tenant’s rights. As long as you continue to pay your rent, you get to stay there as long as possible. Now that leads to another question. Where do you pay your rents to? If you have no Idea who to send your rents to, what you need to do is either open an escrow account or another bank account separate from your personal bank account and just deposit your money that you would have sent to your landlord. The one that took your money and had your house foreclosed on. Take that money and put it into the bank account and save it there until there is either A. A new Owner. Or B. The Bank wants to collect it. That will ensure that you cant be evicted for nonpayment of rent. Hopefully that helps some of you out who feel like “oh no, we have to go!” You don’t have to go. You might have to go soon. Or you might not have to go ever, depending on where you live. This is Kerri, Definitely not you’re average agent. Hopefully your rental doesn’t get foreclosed on!

Down Payments

Hi,

I am coming to you today with the 2010 National Association of Realtors Home buyer and Home seller survey. I want to talk about one of the statistics that they covered in this report today. That topic is, “Where do people get their money for down payments on new homes”? I know when I bought my first house I came up with the money the old fashioned way. I saved and I saved and I saved and actually came up with more than was even necessary because I thought that it took a whole lot of money. I didn’t realize that there were financial products out there that wouldn’t require the typical 20% down, but that’s another blog. In the survey they found that 74% use their savings. Very similar to what I did. 27% received a gift from a fried or a relative. So that’s another way that you can come up with your down payment for a house. Typically it was a gift from parent in that 27%. Another 9% got a loan from a friend or relative. So you can take a loan from a friend or a relative and get the down for that great house you just saw up the street or get in on that great foreclosure deal that you’ve had your eye on. Another 8% tapped into their 401k programs to get the money. So this was something I hadn’t even been aware of. That is, that you can actually take the money out of your 401K and use it for the down on your house. That money is still tax deductible. Even though you may lose money in penalties on taking it out of the 401K early, you can recoup some of that because your money is going to be tax deductible as far as transfer taxes go or any closing costs that are associated with the deal on the property. Finally, 6% sold off some of there stocks or bonds. So that’s another business decision that some people have made, especially with the market going as crazy as it has in recent turns. You can’t count on it. What you can count on is equity growth and stability as a homeowner. So that is another option for folks that are losing money in the stock market…pull it out and put that money into something that you can touch, something that you can come home to every day. In closing, one final fact from the survey is that 95% of those first time home buyers chose a fixed rate mortgage as opposed to a variable. Just something to think about.

Kerri Naslund

Not you’re Average Agent

Do you want to sell your property quickly? Without the hassle, stress and fees involved when selling through traditional Estate Agents? Then contact IPA Property Buyers today. Your Fast House Sale is just a phone call away! Stop Repossession & clear debts with a quick property sale. Enquire now to see how we can help you SELL YOUR HOUSE QUICK!

The air reeks, there’s a screaming kid next to you, and you swear that couple over in the corner is doing something illicit behind the seat…

Do you want to sell your property quickly? Without the hassle, stress and fees involved when selling through traditional Estate Agents? Then contact IPA Property Buyers today. Your Fast House Sale is just a phone call away! Stop Repossession & clear debts with a quick property sale. Enquire now to see how we can help you SELL YOUR HOUSE QUICK!

The air reeks, there’s a screaming kid next to you, and you swear that couple over in the corner is doing something illicit behind the seat…

Do you want to sell your property quickly? Without the hassle, stress and fees involved when selling through traditional Estate Agents? Then contact IPA Property Buyers today. Your Fast House Sale is just a phone call away! Stop Repossession & clear debts with a quick property sale. Enquire now to see how we can help you SELL YOUR HOUSE QUICK!

The air reeks, there’s a screaming kid next to you, and you swear that couple over in the corner is doing something illicit behind the seat…

Do you want to sell your property quickly? Without the hassle, stress and fees involved when selling through traditional Estate Agents? Then contact IPA Property Buyers today. Your Fast House Sale is just a phone call away! Stop Repossession & clear debts with a quick property sale. Enquire now to see how we can help you SELL YOUR HOUSE QUICK!

The air reeks, there’s a screaming kid next to you, and you swear that couple over in the corner is doing something illicit behind the seat…