Flo Robinson

916-230-1408
 

Please click on this link to view the AUGUST - 2011 Newsletter Housing Trends eNewsletter:
http://flo.housingtrendsenewsletter.com?Newsletter_ID=276&Period_ID=382

The Housing Trends eNewsletter contains the latest information from the National Association of REALTORS®, the U.S. Census Bureau, Realtor.org reports and other sources.

It also includes press releases with charts and videos, key market indicators and real estate sales and price statistics, a video message by a nationally recognized economist, maps, mortgage rates and calculators, consumer articles, plus local neighborhood information and more.

If you are interested in determining the value of your home, click the “Home Evaluator” link for a free evaluation report:
http://flo.housingtrendsenewsletter.com?Newsletter_ID=276&Period_ID=382

Sound decisions can only be made with accurate and reliable information, and I am happy to be a trusted resource for you. Thank you for the opportunity to provide you with this monthly eNewsletter, and I look forward to answering any questions you may have and to the opportunity to be your REALTOR® in the future.
Sincerely yours,

Flo Robinson
 Sellstate Realty First
 535 Menlo Dr Ste A. Rocklin
 CA 95765
 916-230-1408
 Email:flo@florobinson.com

(While I hope you find the information contained in this eNewsletter useful and informative, if you wish to no longer receive it, you may click on the “unsubscribe” link at the bottom of the newsletter.)

http://flo.housingtrendsenewsletter.com/

While this situation is changing daily, I want to tell you what we currently know to answer any questions you may have.

• In late September and early October some lenders and servicers began voluntarily halting foreclosures in select states while they reviewed their foreclosure processes.
   
• So far, only Bank of America has extended its foreclosure moratorium to California, where the vast majority of foreclosures are conducted without a court order.  Foreclosures in the other 23 states are processed through the court system.
   
• Non-judicial foreclosures in California, however, do have legal requirements that lenders must follow.  For example, California law requires that lenders for certain mortgage loans made between Jan. 1, 2003, and Dec. 31, 2007, attempt to make contact with borrowers to discuss options for avoiding foreclosure at least 30 days before filing a notice of default.  Lenders also must sign a declaration in the notice of default stating that they tried to contact the borrower, made contact with the borrower, or fall within an exception (such as a bankruptcy filing).
   
• The lenders and servicers that have placed their foreclosure moratorium on properties in the 23 states where courts are involved in the foreclosure process include:  Goldman Sachs Group Inc’s Litton Loan Servicing, Ally Financial Inc.’s GMAC Mortgage unit, JPMorgan Chase, and PNC Financial.
   
• These lenders/servicers have only temporarily halted their foreclosures while they review their foreclosure process.  This is in response to findings that questioned whether some lenders/servicers were following the correct procedures to foreclose on a property.
   
• This halting of foreclosures is a voluntary action taken on the part of these lenders/servicers and has not been mandated by either the states or the federal government.
   
• Some members of the National Association of Realtors have begun to report the immediate impact of this moratorium on transactions that involve foreclosed properties.  Delays in escrow and the removal of listed foreclosures are temporary results of this moratorium.
   
• The immediate impact on the market will be the slowing of home sales, which could put upward pressure on home prices in the short term.  The long-term effect on the market is uncertain at this point as it depends how long the moratorium remains in place.
   
• Assuming the moratorium is lifted in the next month, the flow of REOs to the market should resume, but the uncertainty created by the moratorium may cause hesitation on the part of buyers.
   
• Federal agencies, including the Office of the Comptroller of the Currency, the Federal Housing Administration, and the conservator of Fannie Mae and Freddie Mac, have asked lenders and servicers to review their foreclosure processes.  This review would apply to all states including those like California where the vast majority of foreclosures are non-judicial.
   
• The participating lenders and servicers believe their internal review processes should take anywhere from a few weeks to 30 days to complete.

If you have additional questions regarding a foreclosure or short sale transaction, please call  me for a confidential consultation at 916-230-1408.

Flo Robinson, Realtor, CDPE

There are alternatives (i.e. short sale, deed-in-lieu) that may help Sacramento area homeowner's avoid the worst effects of foreclosure.  I have committed myself to being a community resource on avoiding foreclosure and want to share the information and my knowledge.

One of the biggest benefits of these alternatives is their reduced impact on credit scores when compared to foreclosure. I have created a website specifically to help homeowner's who may be in trouble or having a difficult time paying their mortgage payments.  If you have a friend or relative in this situation, please send them a link to my website: 

http://www.flohelpshomeowners.com

This is a no hassle, no obligation information page to help Sacramento area real estate homeowner's.  You could potentially save them or someone they know from unnecessary grief and heartache.

As a CDPE-designated agent, my team and I have been extensively trained in pursuing foreclosure alternatives and I can help homeowners figure out the best possible solutions.

For a confidential consultation, don't hesitate to contact me. I am here to help.
916-230-1408.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.