Ron Cedillo's (rcedillo) Blog

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Real Estate Broker/Owner - Home Buyers Realty - BRE 01247457

ARCHIVED BLOG POSTS

2011 

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The re-default rate of loans modified in the first quarter of 2009 was 51.5 percent by the end of the year, according to the Office of the Comptroller of the Currency and the Office of Thrift Supervision. Assistant Treasury Secretary, Herb Allison gave his opinion. “Borrowers were more likely to...
01/10/2011

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  Many people think you will have a better opportunity of getting a loan modification if you pay up some of your back payments. It all depends on who you are talking to at your lender. When you first get behind on your payments, you will be dealing with the collections department. In my opinion, ...
01/10/2011

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If you can’t afford your house payment, or are in foreclosure, then you should ask your lender for a loan modification. Many Stockton Homeowners are getting their loan modifications approved. However, it takes a lot of work. You may qualify for a loan modification if you are at risk of near defa...
01/10/2011

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  I am following up on an answer to the following question we received about Mountain House Short Sale Deficiencies. “We have a first mortgage with EMC. Just got an approval letter on a short sale. NO language in letter that says ”satisfied in full” or words to that effect. It only says “conditio...
01/10/2011

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  I am following up on an answer to the following question we received about short sale deficiencies. “We have a first mortgage with EMC. Just got an approval letter on a short sale. NO language in letter that says ”satisfied in full” or words to that effect. It only says “conditions for EMC’s ac...
01/10/2011

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Mountain House CA – We recently talked to someone who did a Stockton loan modification with HSBC. We couldn’t believe how easy the process was for them. They didn’t have to wait 60 days for a person to be assigned to work on the loan modification. They didn’t have to fill out an entire “package”...
01/10/2011

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  Mountain House CA – In another shocking story, it appears that Bank of America foreclosed on a paid off house. A Massachusetts couple owned a paid off house. Bank of AmeriCA still foreclosed on it. At least that’s the story, according to the St Petersburg Times. A couple bought a home in Spring...
01/10/2011

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  Mountain House CA – It appears that Bank of America is getting for another bailout. We had a short sale where the first mortgage is Fannie Mae. Fannie Mae Short SaleGuidelines stipulate that the maximum any junior mortgages can be paid is $3,000. However, the negotiator set it up so the second ...
01/10/2011

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  Mountain House CA – Depending on who you are, when someone mentions IRS, it instills fear in most taxpayers. Here is our opinion on the whole forgiveness thing. Please note that all of the info stated below is my personal opinion on this subject. This is not legal or accounting advice. You shou...
01/10/2011

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  Mountain House  CA – Here is a question we received recently about short sale deficiencies. We have a first mortgage with EMC. Just got an approval letter on a short sale. NO language in letter that says ”satisfied in full” or words to that effect. It only says “conditions for EMC’s acceptance ...
01/10/2011
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