Section 184 Loan Program – Financing For Native American Indians

May 7, 2012 By Leave a Comment

Section 184 Loan Program

Many buyers today are shopping for the best deal while taking advantage of today’s great interest rates. If you are a Native American Indian who belongs to a federally recognized tribe, you have a special loan program waiting exclusively for you! Executive Properties has in house loan officers who can do these loans! Our loan officers and processors have undergone the special training required by HUD on the unique circumstances of Native American home ownership!

The HUD Section 184 Home Loan Guarantee Program Highlights:

* Low Down Payment – Only 2.25%
* No Mortgage Insurance – Only a 1% Guarantee Fee (can be financed)
* Tribal assistance with down payment and closing costs is allowed
* Per Capita and/or gaming proceeds used as an acceptable source of income
* Purchases
* Refinances
* Construction Loans
* Rehab Loans
* Streamline refinancing without an appraisal if already in a Section 184 loan

What do you need to get started on a Section 184 Loan? A Tribal ID card from a Federally recognized tribe and a phone to call me for more info!
Don’t delay, call today! You can purchase a home anywhere in California!

You can also visit HUD’s website for more information!

Blog originally posted at: http://activerain.com/blogs/executiveproperties

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Help For Sacramento Area Homeowners to Avoid Foreclosure!!

March 19, 2012 By Leave a Comment

Help for Sacramento Homeowners

Help For Sacramento Area Homeowners to Avoid Foreclosure!!

Come to the Help for Homeowners Community Event
When: Tuesday, March 20, 2012
Time: 1:00 – 8:00pm
Where: Sacramento Convention Center
1400 J Street, Hall D
Sacramento, CA 95814

If you or someone you know are having trouble making your mortgage payment this is your chance to meet one-on-one with your mortgage company and/or a HUD-approved housing counselor.

I have attached a flyer that tells you what items you need to bring with you. From past experiences with these events, I would get there as early as you can to assure you get in to talk to someone. There is complimentary parking in the Memorial Garage!!

If you or someone you know may need this event, please share this with them. Also, you can visit our website where you can download other free reports!

Don’t wait until it is too late….help yourself or someone you care about today to avoid a foreclosure!!

You can also visit the Making Home Affordable website for help.


View Sacramento Help for Homeowners Community Event in a larger map

Originally posted at: http://activerain.com/blogs/executiveproperties

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You Don’t Have to Live Under the Cloud of Your Unmanageable Mortgage

March 5, 2012 By Leave a Comment

You Don't Have to Live Under the Cloud of Your Mortgage!

It’s a sign of the times!

Most of us grew up thinking that if we planned well and played by the rules, we’d never have to stand by as our financial lives unraveled.

But upheaval on Wall Street, unacceptable rates of unemployment and plummeting real estate values have taken their toll. Since 2007, 7.9 million homeowners have lost their homes to foreclosure. Current estimates are that one in four homeowners owe more on their mortgages than they could get from the sale of their home. Millions more homes will be lost to foreclosure before this real estate crisis runs its course.

The sad fact is that foreclosure is not an isolated event. For months leading up to the loss of a home, financially strapped homeowners live under a cloud of uncertainty. And then for many years afterwards, the blow to credit gets in the way of buying another home or buying anything on credit. Foreclosure even complicates employment prospects.

The impact of foreclosure is huge and the sad fact is that it’s often avoidable.

As a real estate professional who has earned the Certified Distressed Property Expert (CDPE) designation, my mission is to provide financially strapped homeowners with options to foreclosure, ensure that they steer clear of scams, and help navigate them through the solution that best meets their needs.

Among the most important facts to keep in mind: the sooner help is sought, the better the options.

These are tough times, but more help is available than ever before. If you or someone you care about is ready to navigate away from the dark cloud of an unmanageable mortgage and realize that hope and blue skies are within reach, contact us today and let’s get started.

You can also visit our website at www.ShortSaleOurHouse.com for more resources and information.

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I Just Want To Look At Homes For Sale in Sacramento – Why So Many Different Status Types?

January 24, 2012 By 1 Comment

I Just Want To Look At Homes For Sale in Sacramento – Why So Many Different Status Types?

Buyers in the Sacramento Area have many questions when it comes to understanding the status of the listings in our market.

We have active, active short sale, active short sale contingent, pending release, pending, expired, expired pending, withdrawn cancellation and a few others! Here is a brief description of more common status types:

Active: This means that the listing is either a traditional seller or a bank owned sale.

Active Short Sale: This is a listing that the seller owes more on the home than they are selling it for and it will require the banks approval to let them sell the home and take the loss. How long will a short sale take? That is the question that I get all the time. There is no short answer to that. It really depends on many factors, the bank involved, how many loans there are, if there is mortgage insurance, does the listing agent know how to aggressively move toward the approval, etc. I have had short sales get approved within 24 hours and others have taken 4 months to get approved. I will say that most banks have really come around and are working cooperatively with agents and sellers to get these properties sold. The listings will stay at this status until an offer has been accepted by the seller and submitted to the bank for approval.

Active Short Sale Contingent: This is the status that the listing goes to once the seller has accepted an offer. In a traditional sale this would be a “pending” status but because the seller doesn’t have the final say, it will stay as contingent until the bank approves the offer. Buyers can still look at properties that are contingent as a back up, but I always suggest seeing the active and active short sale listings first. If these properties loose their buyer they will come back on the market as an “Active Short Sale.”

Active Pending Rescission: This usually means that the buyer that had been in contract is in the process of canceling and the property will be available once the official release has been obtained.

Pending: Once a listing is pending it will usually become a “sold” listing within 30-45 days.

Expired Pending: This means that the property is in pending status but the listing agreement between the seller and the listing agent has expired.

Withdrawn Cancellation: This means that the property is currently off the market and can not be shown.

You may have also noticed bold letters next to listings such as N or B. N means it’s a new listing and B means the property was pending but is now back on the market.

Hope this helps. Good Luck and Happy House Hunting!

Originally posted at: http://activerain.com/blogs/executiveproperties

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I’m Sorry, Your Insurance Doesn’t Cover That!

September 23, 2011 By Leave a Comment

What Your Insurance Company Doesn't Tell YouI’m Sorry, Your Insurance Doesn’t Cover That!

I learned a valuable lesson yesterday as did one of my Sacramento home sellers. You must be aware of the fine print in the insurance policies you hold! I have a listing that is ready to close tomorrow and at the buyers final walk through yesterday they walked into a bit of a disaster zone….broken windows, broken fences, missing water heaters, missing cabinets, cut up carpet, missing light fixtures, missing sinks, missing bathroom vanities and more. It seems that someone needed these items more than we did.

No problem, right? We can call the insurance company, they can take care of it, can’t they? That is why we pay for insurance right? For that one time something bad happens. WRONG! “I am sorry Mr. Seller, it says right here that if your property is vacant for more than 30 days you are not covered.”

WHAT?

Yep. What now?

Lesson learned, be careful of the fine print, make sure you know what your insurance policies cover. Don’t be caught off guard when some unfortunate event comes your way. If you are selling a home, please, be especially careful of vacancy clauses. A vacant property is a breeding ground for vandals, if at all possible, have someone living in the home as long as possible. Or at least have it alarmed, and please, review your insurance policies to make sure you aren’t left holding the pieces.

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Protect Yourself Against Mortgage Relief Scams

September 14, 2011 By 1 Comment

Protect Yourself Against Mortgage Relief Scams

When you are facing the stress of not being able to make your mortgage payments, the last thing you need is the additional stress of worrying whether or not the assistance you are getting is in your best interest. There are people you can trust for protection and advice. I have a report on my website that has all the details you need to protect yourself. There you can download the free report on protecting yourself against mortgage relief scams.

You need to watch out for the four Rip-Off Red Flags:

Upfront Fees – Charging an upfront fee for helping is actually illegal now. This is the most obvious red flag!

Guarantees – No one can guarantee you that there will be relief from your current mortgage situation. If it sounds to good to be true – it probably is!

Government Affiliations – Many companies will try to appear that they are government entities, they even have mail pieces that look official that you may have already received. Be sure to verify them at the Better Business Bureau or at the Making Home Affordable website.

Deed Transfer – Be extra aware of those that try to get you to sign over the deed to your house! Always seek legal counsel before doing something like this.

If you think you have been scammed, please visit the Federal Trade Commission’s website to file a complaint now! Please help put a stop to those people who are taking advantage of home owners. Help someone before it’s too late!

If you or someone you know is one of the 1 in 6 homeowners that is having trouble making the monthly mortgage payment, please visit our website. There you can explore options in avoiding foreclosure and download several reports that may help you.

Originally Posted at: http://activerain.com/blogs/executiveproperties

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No, I’m Sorry, I Won’t Show You That House!

August 23, 2011 By Leave a Comment

No, I'm Sorry, I Won't Show You That House

No, I’m Sorry, I Won’t Show You That House!

Many times I get phone calls from perspective buyers on my listings that want to take a look. And many times I tell them NO!

Are You Working With An Agent?

First, I ask if they are working with an agent, if they say, “yes,” then I tell them to call their agent. Sometimes the buyers get angry and assume since it’s my listing I should show them. However, I don’t think their agent would appreciate my being the procuring cause – which means I could get the commission if I showed them the house and they put in an offer! If you have an agent they are the one you need to call for ANY listing that you see, no matter who the property is listed with. A buyer should not call any other agent besides the one that is representing them- EVER! If you are a buyer and go into an “open house” or a new home sales office be sure to tell the agent there that you already have an agent you are working with. You need to be honest with everyone.

Are You Pre-Qualified?

After I have determined that the buyer isn’t working with a real estate agent, I still don’t show them the house! I then ask them if they have been pre-qualified. If not, I urge them to do so and even offer some names of mortgage brokers if they need someone. Why do you need to be pre-qualified? Well, you definitely want to know how much this new house will cost you. Even though you may qualify for a purchase price of $300,000 you may really only afford a purchase price of $250,000. I don’t want my buyers to look at something they can’t have. As little as $20,000 can be an extreme difference in the type of home that they get. If the buyer is pre-qualified, I then schedule an appointment to meet in person. “Meet with you? I just want to look at this house!” I don’t believe in wasting my time or anyone else’s time for that matter. It is important that I meet with buyers in person and ascertain what their needs are so I can determine if I am the best agent to help them. I am not a “fit” for every person.

  • What questions should a home buyer have answers to when it comes to financing the home?
  • How much do I qualify for?
  • What would my monthly payment be?
  • Does my payment include taxes and insurance?
  • Does the property I am interested in have mello-roos or HOA’s?
  • What type of loan am I getting? is it fixed or does it adjust?
  • How much down payment do I need?
  • What is my interest rate?

If you are looking for a home I highly suggest that you find an agent that meets the following criteria:

Full-Time – with all the changes in the real estate industry it is important to have someone who is in the business full time.

Has Experience – How long has the agent been in real estate? If not for very long, do they have a team to support them? Your agent needs to have the experience to make sure you are protected as a buyer. The longer they have been in the business the more experience they have had in dealing with all aspects of real estate.

They are a REALTOR® – Not all real estate agents are REALTOR®’s. It is also important that the agent is a REALTOR, because they must follow a strict code of ethics and usually maintain a higher lever of knowledge. Check out the 12 reasons you should work with a REALTOR®.

Has Designations - Those letters behind their name doesn’t necessarily make them a better agent but it does mean that they are taking the time to be more educated in their field. It means that they are continuously training in special areas of the real estate industry.
Friendly/Down to Earth – It is important that the agent you work with is a good fit with your personality. Do they ask you questions about what is important to you? You need to make sure you are comfortable with each other. It isn’t fun to work with “Mrs. Schnoopy”, if you know what I mean! You need to be comfortable with your agent.

Honest/Hardworking – Does the agent communicate with you? Do they do what they say they are going to do? Are they on time? Do they tell you things that you sometimes don’t want to hear because they think something is not right for you?

Buying a home is likely the biggest purchase you will make in your life. You want to make sure that the experience is great and you will be happy and comfortable with the house and the payment! You can search all homes on the market by visiting the Executive Properties blog.

Happy House Hunting!

Originally Posted at: http://activerain.com/blogs/executiveproperties

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On The Road Again

January 3, 2011 By 14 Comments

On The Road Again…

Well, I hate to say it but I have no choice in the matter.  We are on the road again…moving!  We just moved six months ago! Our boxes were finally cleared out, pictures not yet hung.  Why are we moving?

Well, you see, one night I was running a little pre-foreclosure search in our MLS and much to my surprise, my commercial building was in foreclosure!  WHAT? I immediately began my search for a place to call home. I was lucky to find another location that suited our needs and we signed a lease Monday.

The Lesson To Be Learned…

House with timerTime may be running out for you too!  You may not be in need of commercial pre-foreclosure stats but if you are renting your home you may be!  Be sure to find out as much information about your landlord as you can.  How long have they owned the home? What are their long term plans for the home?  Do they have any intention of moving back into it?  Most importantly, are they making their monthly mortgage payments?  Did you know that it is possible to see if your home is in pre-foreclosure, foreclosure or even auction status?

You also need to be aware of your rights as a tenant.  Be sure to be informed of your legal rights when your home is in foreclosure status. A good place to start is on the State of California’s website where you will find ahandbook of tenant rights.  According to the TenantsTogether.org website over 15,000 tenants in Placer and Sacramento Counties were affected by a rental foreclosure in 2010! That’s a lot of people on the road again!

If you have any questions or concerns about your rental being affected by foreclosure, whether it’s commercial or residential, feel free to contact me. I may be able to help you find answers. Don’t wait until it’s too late!

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