Foreclosures and shortsales and bankruptcy - oh my!

Mortgages are a mess right now and the banks can't seem to figure out what to do.   There are some simple solutions.
For instance, the lenders can reset all primary residence loans (for anyone who requests it) at current rates.  For those who are delinquent, put the arrears on the back - like a piggy back loan with no repayment until property is sold.  Hopefully the people will then be able to stay in their homes for a number of years and by that time, the equity would have built up.  The lenders can be paid back in full at that time.  What if it sells short?  Well, most likely that would've happened anyway. 
So what do the lenders have to lose?  Less cost for them - except for paperwork to reset the loans.  They can reduce their mammoth loss mitigation departments.  It would stabilize the housing market and any foreclosures/short sales would be spread over a longer time frame.  More likelihood that people would be able to  stay in their homes keeping the values in their neighborhoods stable.

Are you aware that during the Bush years, they changed the bankruptcy rules so that people filing bankruptcy can have their investment properties protected and loans reset - the trustee has to do that.  But people who only have their primary residence do not get that benefit automatically.

If you are in a situation where you cannot make your mortgage payments, DO NOT WAIT until the last minute.  Find a reputable Realtor and ask for advice.  Do not go with scams that take your money with guarantees they will save your homes.   If nothing else, call me and ask for direction.  I have lots of resources.  Don't exhaust your savings...and find yourself up against the wall.

And, if you have already done that, call me and let me see what I can do to help.

San Francisco - A special part of California

Everyone knows San Francisco: What a unique and wonderful place it is to live. Diverse economy, beautiful weather, great city ... amazing place to live.But the other amazing part of San Francisco is that you can have your choice of environment and culture in very close proximity.
Go North across the Golden Gate Bridge and you find yourself in picturesque Sausalito with beautiful Marinas. You can be a cliff dweller in a luxury condo or live on a houseboat. Marin County is the home of Lucas' Industrial Light and Magic. Napa Wine Country is just a short drive through pastoral settings. Home prices are reasonable.
Go South to the Peninsula and you will experience temperature changes. It is said that there is one degree increase in temperature for every mile that you travel south. So there literally can be 40 degrees temperature difference between San Francisco and San Jose.The Peninsula offers all price ranges and all economic strata from affordable homes in South San Francisco and Daly City to luxury homes in Hillsboro. Mid-range homes with excellent school districts can be found in San Mateo, Burlingame, Millbrae, San Carlos, Belmont and Redwood City.We have created communities called Foster City and Redwood Shores which inspire with their lagoons and inland waterways.
Still in San Mateo County, you can venture to the Coastside... only 7 miles from Hwy 280 you will find the Pacific Ocean. But not only beaches, but agriculture where you will find the famous giant pumpkins and many pumpkin farms, Christmas tree farms and fields of artichokes and brussel sprouts. A little south you will find the equestrian community of Woodside, the elite community of Atherton with its sprawling estates and the collegial towns of Palo Alto and Menlo Park.All of these lovely cities and towns are within 30 - 45 minutes of San Francisco. This is why this area is so popular and why our median county price is $600,000 A great place to live.

WELCOME

WELCOME TO YOUR RE/MAX PIONEER BLOGGING SITE.
Feel free to post your thoughts, ideas, comments.
Would you like to learn how to blog?
We can help you. Judith