San Jose-Santa Clara County Real Estate UNCENSORED

Foreclosure Help - Preserving Our Community

Ney — Fri, 17 Apr 2009 05:25:23 +0000

Save April 23, 2009 on your calendar for foreclosure help. Keep reading for the details: In last week’s press conference, San Jose City Mayor Chuck Reed along with San Jose Director of Housing Leslye Krutko and several members of the “Foreclosure Help – Preserving Our Community” program presented to the public and the media a plan [...]

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Understanding Obama’s Making Home Affordable REFINANCE plan

Ney — Wed, 11 Mar 2009 05:55:48 +0000

Last week the US Treasury Department released some of the guidelines for the “Homeowner Affordability and Stability plan;” however, the details for refinances and modifications created some confusion even among the professionals in the real estate industry. Much of the confusion came from the belief that the refinance and modifications under “Making Home Affordable” (MHA) program [...]

Understanding Obama’s Making Home Affordable MODIFICATION plan

Ney — Fri, 06 Mar 2009 06:39:16 +0000

Yesterday, the Treasury Department released some of the detailed guidelines for the “Homeowner Affordability and Stability Plan.” The plan includes $75 billion in incentives for lenders to modify the loans of struggling homeowners which will run through December 31, 2012. These incentives are under the “Making Home Affordable Modification” program. MAKING HOME AFFORDABLE MODIFICATION The “Making Home [...]

Would You Like Paper or Plastic For a Quarter?

Ney — Wed, 28 Jan 2009 19:48:35 +0000

While President Barack Obama is pushing for cleaner, more efficient cars by possibly allowing California and other states to impose tougher auto emission standards on carmakers, the City of San Jose is also looking to be more environmentally friendly. The City of San Jose is considering adopting an ordinance that would require all retail establishments to [...]

Pimps and Whores of the Loan Modification Industry

Ney — Mon, 12 Jan 2009 22:36:10 +0000

There are individuals doing loan modifications legally but there are many more doing it illegally. This is a hot business and it is exposing homeowners to fraud now more than ever. “It’s becoming an issue. As always, people get very clever when they see an opportunity,” said California Department of Real Estate spokesman Tom Pool. Figuratively speaking [...]

Some Food for Thought: Seven Pounds

Ney — Sat, 20 Dec 2008 02:42:22 +0000

Yesterday, after watching the new Will Smith movie “Seven Pounds,” I was curious to hear the movie critics. Some liked it others did not. My suggestion for you is not to listen to the movie critics because their job is to critic the movie. And their criticism is narrowly focused on the apparent saintly and immoral [...]

Subprime Wolves are Howling About Mortgage Rates and the Fed Funds Rate Reduction

Ney — Thu, 18 Dec 2008 00:42:50 +0000

Yesterday’s reduction of the Federal Funds rate to a range of 0.000 to 0.250 percent is the lowest record level in history. This news is certainly in the minds of many consumers but, as also explained by Dan Green, it is for the wrong reasons! Every time the Federal Reserve reduces interest rates, I hear radio [...]

Some Food for Thought: Why Should We Give Thanks If We Have so Many Problems?

Ney — Fri, 28 Nov 2008 04:31:15 +0000

We are facing the worst economic crisis we’ve seen in years. Our economy is getting closer and closer to a full blown recession. Deflation is affecting every business and as a result we may be receiving the so dreaded “pink slip.” We are all loosing our homes even though we’ve tried so hard to negotiate [...]

What is a Loan Modification?

Ney — Wed, 26 Nov 2008 18:09:39 +0000

Loan modifications have been, for the most part, the long waited rescue plan for some homeowners who have fallen behind on their payments. Nonetheless, this is not the silver bullet for the foreclosure problems we are going through right now. Contrary to what the so called “loan modification experts” may say, not everyone qualifies and not [...]

Repair Your Credit By Legally Removing All Negative Accounts: It’s All Legal, I promise! (Just Don’t Report It To The Authorities)

Ney — Sat, 08 Nov 2008 01:33:20 +0000

I am sure that by now almost everyone has seen advertisements on the radio, television or the internet from companies or companies affiliated with law firms claiming to be “credit repair experts.” They boldly claim to be successful at removing from credit reports any derogatory accounts including short sales, foreclosures, and bankruptcies. Most of the claims [...]

Two Milpitas Mortgage Brokers Convicted in $10 Million Fraud Case

Ney — Wed, 22 Oct 2008 03:17:07 +0000

It never stops to amaze me how many of the alleged fraud cases here in the Bay Area seem to be connected in one way or another. You will see how at the end of this post. On October 14 2008, the Santa Clara County District Attorney’s Office announced that a jury had convicted two mortgage [...]

US Financial Crisis: Whose Fault Is It Anyways?

Ney — Thu, 16 Oct 2008 05:22:22 +0000

Yesterday Henry Paulson, US Treasury Secretary, announced a plan to spend $250 billion to purchase stocks in at least nine major financial institutions. This money infusion would give taxpayers ownership stake on these banks and guarantee a 5% return. It would also help banks build more reserves and in turn ease lending to consumers and [...]

I Am Urging Everyone NOT to Vote This Year….…

Ney — Sun, 05 Oct 2008 00:11:30 +0000

This is a very important message! Believe me, I can’t stress enough how important it is that you DO NOT VOTE in the Presidential election this year. This is why……. Parental Advisory: Video Uncensored Register to Vote here. Follow the link and find the voter registration information near you. Exercise your right to vote!Similar Posts: IRS Tax Rebate Scam via [...]

SB 1055 California State Tax Relief Applied To Forgiven Mortgage Debt

Ney — Tue, 30 Sep 2008 19:45:27 +0000

The big news on everybody’s radar lately was the $700 billion “Rescue Plan,” which was vetoed by the House of Representatives yesterday and sent back to be re-drafted. Many on “Main Street” oppose to the bail out of Wall Street with tax payer’s money, while others see the “bail out” as a necessary evil that [...]

What is Your Code of Ethics?

Ney — Sat, 13 Sep 2008 02:11:12 +0000

Not too long ago “business ethics” was an expression that many considered an oxymoron. Then, in the 1990’s corporations made a remarkable turnabout by addressing codes of ethics, conduct issues in policy manuals, etc. The main reason was because businesses became increasingly concerned about ethics after realizing that ethical practices actually made business sense. The rules [...]

Catchy Radio/TV Ads Lured Homebuyers Who Later Foreclose

Ney — Fri, 05 Sep 2008 22:35:49 +0000

How do you emigrate from Colombia, fleeing the Mafia, work your way up from doing work as a waitress and shinning shoes to owning your own real estate company, buy a $2.2 million privately gated mansion in Gilroy (2005) and a few years later (2008) attempt to sell it for $3.2 million?……Ask Maria Eugenia Avila [...]

Loan Modification and Foreclosure Help at San Jose Community Event

Ney — Sun, 17 Aug 2008 03:56:30 +0000

As I mentioned it on the previous post, there will be a big community event held at Independence High school in San Jose on August 20, 2008 aimed to help homeowners struggling with their mortgage payments and much more. Following is more detailed information about the services that will be provided at this community event. As people [...]

Loan Modification, Foreclosure Prevention and HUD Counseling Event in San Jose

Ney — Wed, 06 Aug 2008 22:43:08 +0000

I have been invited, along with some SCCAOR members, to help in the “Foreclosure Prevention and Rescue Fair” in San Jose on August 20, 2008. [UPDATE]: Details for the event here The “Foreclosure Prevention and Rescue Fair” is presented by the City of San Jose, the Department or Real Estate (DRE), local elected officials, several non-profit partners of [...]

H.R. 3221 Housing and Economic Recovery Act of 2008 Passes New Permanent Loan Limits

Ney — Thu, 31 Jul 2008 05:02:41 +0000

The House passed the massive housing bill last Wednesday, the senate voted Saturday to send it to the president and today President Bush signed the “Housing and Economic Recovery Act of 2008 HR 3221.” HR 3221 is intended to aid in stabilizing our economy, support first-time homeowners and provide mortgage relief for an estimated 400,000 struggling [...]

What is Wrong with Buying One Today and Losing One Tomorrow?

Ney — Thu, 17 Jul 2008 20:48:57 +0000

Illustration by: Matt Mahurin Some of the distressed emails I get from homeowners facing foreclosure ask me what I think about buying a home before losing their current one. To answer that question I will give you my personal opinion at the end of this post. First let’s look at the case of Michelle Augustine from Sacramento, [...]