Mortgage After Short Sale Foreclosure

FHA insured mortgages are generally available to borrowers whose property was foreclosed on or given a deed-in-lieu of foreclosure after a 3 year waiting period. However, if the foreclosure of the borrower’s main residence was the result of extenuating circumstances, which now includes a twenty percent year after foreclosure if you have since established good credit.

or more drop of income which is considered an “economic event” an exception may be granted. Call and find out if Caroline Gerardo can help you.  (949) 637-8190

Back To Work Program: You will need to show you had a job loss, serious illness that made you take off work, had to move locations for a job or catastrophe that caused you to get behind. You can’t just have stopped making payments because you didn’t want to pay on an upside down house.

Buy a home with a VA loan in just 2 years after foreclosure.

If you are a Veteran and have Certificate of Eligibility and DD214 you may qualify to purchase a new home in as little as 2 years after foreclosure or short sale.

BUYING A NEW HOME AFTER A SHORT SALE?

Can I Buy A Home Again After A Short Sale?

Millions of Americans suffered through short sales in the last few years. You may not need 20% down payment to go conventional

 It is important to get your credit back in line, as FICO score does drive the interest rates. Ask me about my free programs to help increase your FICO score.

The good news is that if you have short sold your house in the past, it is possible to get into a position to get a new loan in as little as only a few months after your short sale. If you did a short sale and had to pay anything to Fannie Mae in California you may be due a refund.

We have a down payment assistance fund that can give you 5% of the sales price as a gift to buy a home under $ 500000.00 in Southern California. This is coupled with a FHA loan.

You read that right: some loan programs allow you to get into a new mortgage loan in as little as 12 months after a short sale and you may not even need a down payment.

 

 

 

http://eaglehomemortgage.com/carolinegerardo/

A Chainsaw for Christmas?

Best Christmas gift I ever received was the smile on my newborn’s face nineteen years ago. The worst was when my ex-husband bought me a chain saw. That is another story. My built in refrigerator door bladder is still leaking air after my attempts to “fix” it.


I am very “handy.” I can repair just about anything. I operated a crane and calculated maximum loads of a bridge, built commercial and residential buildings but I now prefer to hire someone to fix the refrigerator. The problem arrives in perceptive image- by this I mean the repairman sees a blonde woman in a flowery house who weighs 110 pounds and he thinks I have no idea. This can be useful or costly on the bottom line of the bill.

So how do you budget shop for a repair on anything?

1. Recommendations from neighbors ( as proximity limits your options to hire someone who might have to charge for his or her travel time).

2. Browse the internet and enter the City name with your repair item. Look on UTUBE for repair videos.

3. I don’t have a phone book at home anymore so that is out of the question.

4. Ask other contractors or general contractors for a recommendation.

5. Ask someone at the local hardware store, see if they have a bulletin board.



The next step is contacting them, describing exactly what you need and asking for an estimate of cost. They can tell you the hourly labor cost but often they have no idea what parts might be necessary to repair your appliance or thing from a telephone call.



Then there is the waiting for them to show up for the appointment. When they arrive try not to be so agitated about them being late, this is only going to waste time of their hourly labor cost.



Lead them directly to the problem, which hopefully you have cleared the area for space to work.

Then watch and learn something out of the way.



Unfortunately, the repairman went through the same steps I had tried and the door seal worked for three days, and now the freezer is back to meltdown. So now what?

CITY Laguna Niguel GONE WILD

THE SIGN SHOULD NOT READ EXIT IT SHOULD SAY DEAD END

WHY IS THIS RIDICULOUS PALACE BEING BUILT?

WHY WOULD THE CITY OF LAGUNA NIGUEL NEED 10000 feet of PLANNING DEPARTMENT WHEN THERE IS NO CONSTRUCTION HAPPENING AND NO RAW UNDEVELOPED LAND REMAINING? WHO VOTED TO SPEND TEN EXTRA MILLION DOLLARS IN THIS THE THIRD GREAT DEPRESSION? HOW MANY PEOPLE EVER WENT TO A CITY MEETING IN EXCESS OF TWENTY ATENDEES? DO YOU WANT YOUR MONEY WASTED ON ANOTHER TAJ MAHAL? SELL THIS MONSTROSITY FOR A LOSS AND MOVE ON.

ANOTHER BEAUTIFUL SUNNY DAY IN LAGUNA NIGUEL WHERE WE ARE CONTRIBUTING TO THE CONSTRUCTION ECONOMY BASED ON SOME TIME LONG GONE PAST WHERE TAX REVENUES WERE CLIMBING.

Re-Think the Open House Concept

Rethink a new kind of open house. Get the seller ready before you start the listing:

1. A pre-appraisal is good. The seller might benefit from a bank style appraisal which is the standard they will be held to close a deal. Only list a home where the Seller is realistic about their home and their market.

2. Empty the garage, half the closets, sell or donate it all. Remove

religious, personal, smelly items, unique art, and make it more vanilla.

3. Paint neutral. Stage if they can afford it.

4. Wholesale flower planting. Supply the pots and the wholesale

Annuals arrive in a truck. One solid block of color.

5. Scrub clean every surface.

In Laguna Beach Realtors still drive together and visit open houses on preview. I believe I have seen the inside of every home on my “paper route.” Be cooperative and helpful to other agents and let the deals flow your way. This gives me an advantage not only in knowing the neighborhood, what the planning commission might approve, what the traffic is like on school mornings, but an edge above the others.

If City/HOA ordinance does not allow signage – get a dancing teen in a house costume twirling a sign. Get your lender, your title representative to review the last details before the open house, before the listing is in the MLS. Market outside of the box. Invest the time and attend the open house.

Have 200 people to walk through the open house. Start the buzz about that amazing Realtor and that great listing. Sell the home the first three weeks.  I am not saying serve cookies. Serve yourself and add some new spice to the idea of foot traffic.