I will be writing captions and naming each succulent but I have 80 images to organize
7/30/2014
Succulent Hillside
Charming Front Doors
Couple ideas to decorate your front door.
This red door framed by terracotta pots is cheerful
Okay my photo is a little crooked, but the gloss black paint is
slick! Forsythia wreaths (from local craft store ready made)
Basket with flowers on the knocker, charming
I love this unique and classy front entrance.
Simple ideas can add curbside appeal to your home.
The upside down brooms in antique milk jug serve a couple purposes-
they look great , add texture and are useful to tidy up those leaves or
spiders at your door.
Fannie Makes Credit Rules Tougher
Dive in the Water's Fine
Fannie Mae is tightening up on foreclosure and short sale
rules.
Worsening? Yes
Fannie Mae announced changes to seasoning requirements for major derogatory credit events.
•
Effective immediately - If a mortgage debt was discharged through bankruptcy, borrower is held to the bankruptcy seasoning
requirement and not a foreclosure seasoning requirement. The lender must
obtain appropriate documentation to verify that the mortgage obligation was
discharged in the bankruptcy. FYI - Chapter 7 bankruptcy seasoning
without extenuating circumstance is 4 years. This is an improvement to
the previous 7 year wait period for a foreclosure within a bankruptcy.
EXTENUATING CIRCUMSTANCES IS HARD TO PROOVE
Docket summary (they will check what you wrote off) , proof of job loss, death certificate, proof of decline in value... about 40 pieces of paper
•
Effective with applications dated on or after August 16, 2014 - The
seasoning for a short sale without extenuating circumstance is 4 years. This
has been worsened from what was a 2 year wait period for loans with LTVs at or
below 80%, is no change for 80.1-90% LTV, and improves the waiting period for
90.1-95% LTV.
•
Effective with applications dated on or after August 16, 2014 - A charged-off
mortgage account occurs when a creditor has determined that there is little (or
no) likelihood that the mortgage debt will be collected. A charge-off is
typically reported after an account reaches a certain delinquency status, and
is identified on the credit report with a manner of payment (MOP) code of
“9.” Fannie will require a 4 year seasoning for charged-off mortgage
accounts. This is new Fannie policy.
|
Derogatory
Event
|
Waiting
Period Requirements
|
Waiting
Period with Extenuating Circumstances
Extenuating circumstances are nonrecurring events that
are beyond the borrower’s control that result in a sudden, significant, and
prolonged reduction in income or a catastrophic increase in financial
obligations. These circumstances must be documented within the loan
file.
|
|
Bankruptcy — Chapter
7 or 11
|
4
years
|
2
years
|
|
Bankruptcy — Chapter
13
|
·
2
years from discharge date (payments made as agreed)
·
4
years from dismissal
date (noncompliance with BK repayment plan)
|
·
2
years from discharge date
·
2
years from dismissal
date
|
|
Multiple
Bankruptcy Filings
|
5
years if more than one filing within the past 7 years
|
3
years from the most recent discharge or
dismissal date
|
|
7
years
|
3
years
Additional
requirements after 3 years up to 7 years:
·
Purchase,
principal residence
·
Limited
cash-out refinance, all occupancy types
|
|
|
Deed-in-Lieu
of Foreclosure, Preforeclosure Sale, or Charge-Off of Mortgage Account
|
4
years
|
2
years
|
1 When
both a bankruptcy and foreclosure are disclosed on the loan application, or
when both appear on the credit report, the lender may apply the bankruptcy
waiting period if the lender obtains the appropriate documentation to verify
that the mortgage loan in question was discharged in the bankruptcy. Otherwise,
the greater of the applicable bankruptcy or foreclosure waiting period must be
applied.
2 References
to LTV ratios include LTV, CLTV, and HCLTV ratios. The maximum LTV ratios
permitted are the lesser of the LTV ratios in this table or the maximum LTV
ratios for the transaction per the Eligibility Matrix.
7/28/2014
Zillow Dragon Merger?
 |
Zillow buys
Trulia Active Rain.
Wisdom of the ancients predicts the future?
Mergers
are a tricky thing. It’s the same as a divorce but no one uses that nasty word.
Executives will be fired, employee benefits slashed, and offices closed.
Consolidation of this kind is aimed at increasing earnings. This merger makes
Zillow a powerhouse of old Real
Estate information. The combination of brands should capture more consumers. Why
do I say old? Because the information presented is outdated. Zillow is not in
the free real estate information providing business, company EBIDTA is based on
advertising.
A brief history: (history tells us everything)
Zillow is a
Seattle based company with 817 employees. (I owned 200 shares- sold in June 2014 as a full disclosure but I hear insiders at both companies dumped shares in the past few days- someone is in trouble...) Today the price is down, but it has soared about
eighty percent in the past six months.
Problems
with Zillow:
1. They have
been spending more on advertisements than earnings in the past sixty days. You've seen Adwords, television, Facebook, print, geez they spent on Warner cable…
2. They have a scummy sales force model that works as follows:
2. They have a scummy sales force model that works as follows:
Zillow
salesman tells Realtors to convince Lenders to pay for their advertisements (the
right side banner shared with two other Realtors on listings that they have no
direct contact but is implied they are perhaps the listing agent). Zillow
salesman and Realtor tell the Lender to write the first check to the Realtor
directly then use a credit card for the area(S) desired. A high net worth area
may cost $400 a month, while a lessor one $290. Lender is told they are
exclusive, but this is untrue, the same area is sold to twelve to sixteen other
lenders. The assumption is Realtor and Lender will rake in leads and recoup the
cost tenfold.
Zillow’s challenge now is to cut costs. Free user accounts on Active Rain, Trulia and Zillow will become less visible. Meanwhile they will promise a paid account to rise in rankings.
Trulia and ActiveRain employees I hope you packed up the photograph of your son’s little league team, the sales trophies you have and the pen given to you by the CEO because your days are numbered. Work smart, volunteer to rescue market capitalization and become invaluable –it may or may not open a job for you in Seattle, but the San Francisco office is imploding as I type.
Consumers –
Good news. The new Zillow powerhouse can withstand the lawsuits from National
Association of Realtors (or others for copyright infringement) will add services enhancing user search for
property.
They will add better mapping, maybe drone photographs,
maybe intuitive advertising directed at the consumer (much like Facebook farms
all our traits and secrets). I see them adding referral sources for construction, remodeling, property management, title, and national escrow.
Consumers if
you would like to get on the Multiple Listing Service live (rather than Zillow’s
year old sold listings that appear open) please contact me.
These opinions are my own and not reflective of stock future price or loss.
Name in- famous merger game:
Google – Motorola
New York
Central- Pennsylvania Railroad
Sears- KMART
My un-favorites
are the financials.
Trulians in
the Den in the Rialto building
today I wish you well. Perhaps the reason
Mayan culture fell wasn't climate change?
Merger?
 |
| Dragon fruit |
7/25/2014
LOW FICO FHA
|
7/21/2014
Erase Your IRS Tax Lien
Many Americans are struggling with getting back on their feet after the downturn, you know the Third Great Depression. Here is a tip that doesn't cost anything, but can greatly improve your credit and FICO score
The IRS will withdraw a federal tax lien after it has been released.
What?
You can clean up
your credit and raise your FICO score by filing Form 12277
You do not need an attorney. You can file this yourself! You will have to follow up.
Form here: http://www.irs.gov/pub/irs-pdf/f12277.pdf/
This greatly
benefits taxpayers who pay the tax they owe after the IRS has filed a Notice of
Federal Tax Lien (NFTL) against them. Taxpayers who could not pay taxes due
after notice and demand during this past economic downturn end up with a lien arising in favor of the United States upon all the property and
rights to property of the taxpayer.
Unless the IRS
“perfects” this lien by recording a NFTL in the public records, other creditors
of the taxpayer, such as purchasers and holders of security interests, may
obtain priority over the IRS. A NFTL adversely affects a taxpayer’s credit
rating. Depending on the size of the paid lien and date paid it can reduce FICO
scores by eighty to two hundred points. This more often harms taxpayers who own
small businesses. Small business owners struggle the most with
the IRS, the State and regulatory agencies.
Taxpayer enters into an installment agreement to satisfy the liability for which the lien was imposed.
Withdrawal will facilitate the collection of the tax liability.
With the consent of the taxpayer or the National Taxpayer Advocate, the withdrawal of the NFTL would be in the best interests of the taxpayer and the United States. The difference between a released or withdrawn NFTL is vital because of the way credit reporting agencies show withdrawals verses releases. Releases remain and lower FICO score, withdrawals disappear…erased from your credit history!
the IRS, the State and regulatory agencies.
The program is called Fresh Start. There are terms and conditions to qualify. It takes 45 days minimum to complete and see your FICO score pop up.
You must have paid and they released the lien, and you filed
subsequent.
The IRS must release a tax lien, by issuing a certificate of release of lien, not
later than 30 days after the underlying liability is fully satisfied through
full payment of the tax, or is legally unenforceable (e.g., the statute of
limitations for collecting the tax has expired). The IRS also has the
authority, under certain circumstances, to withdraw a NFTL. If a NFTL is
withdrawn, the tax laws shall be applied as if the NFTL had not been filed.
The circumstances that permit withdrawal are any
one of the following:
Filing of the NFTL was premature or otherwise
not in accordance with the IRS's administrative procedures. Taxpayer enters into an installment agreement to satisfy the liability for which the lien was imposed.
Withdrawal will facilitate the collection of the tax liability.
With the consent of the taxpayer or the National Taxpayer Advocate, the withdrawal of the NFTL would be in the best interests of the taxpayer and the United States. The difference between a released or withdrawn NFTL is vital because of the way credit reporting agencies show withdrawals verses releases. Releases remain and lower FICO score, withdrawals disappear…erased from your credit history!
When a credit reporting agency receives a notice of the withdrawal of a NFTL, they delete any reference to the tax lien in the taxpayer's credit history. In contrast, when the credit reporting agencies receive a release of a lien, while they note the filing of the release in the taxpayer's credit history, the filing of the release does not operate to remove the references to the tax lien from the taxpayer's credit history.
In fact, typically a released NFTL remains noted in the
taxpayer's credit history for seven
years from the date of the release. (Credit reporting agencies are required
to remove references to released tax liens after seven years under the Fair
Credit Reporting Act.) -
File the form - follow the directions - poof magic it is ERASED in about 45 days.
http://eaglehomemortgage.com/carolinegerardo/
In California and you received a notice from your
County that they are increasing your property taxes?
You may only have weeks to file an appeal. Don't be hoping Howard Jarvis is going to assist you - you must file
7/18/2014
Curb appeal
Curbside appeal Laguna Beach
Another home in the tract that used riverstone, picket fence and clapboard siding.
The classic car is terrific!
Arizona flagstone driveway entrance- The topiaries are well maintained. Geraniums in grey pots, lovely concrete fountain and teak bench now weathered to a silver tone.
 |
| Hardscaping of bricks laid in herringbone patter, stones with light fixtures and simple privet hedge and grass is "nice" |
The classic car is terrific!
This house used stone veneer over stucco and concrete. This is not artificial veneer,
it is real.
Brick laid walk at curb adds a nice clean pattern to the curb.
Note the flag - hanging an American flag during daytime adds
a welcome appearance. Flags also add some color and movement
to the front entrance.
Terrific use of traditional brick entry. Arching trellis over the gate has bower vine.
The vines continue to grow up above rain gutters and another pole trellis. The
used brick on the house is painted to tie in the whole. I love the white and light
naples yellow.
7/09/2014
Own A Lighthouse
40 North LA Senda, Laguna Beach
$24,900,000 million dollars
Comes with it's own salt water pool refreshed by the ocean
Commune with Movie Star Ghosts
I have swam around Three Arch Bay but never dreamed I would
have the opportunity to climb up in this lighthouse.
See the bridge across private beach to your own pool!
Reduce Your Property Tax Bill
How to reduce your new increased property tax bill
It’s property tax increase time!
Get a light green notice from Webster J Guillory
he’s increasing your property tax bill?
It looks innocent enough.
It says (THIS IS NOT A BILL).
It’s a tax increase.
The State of California is broke.
Statewide homeowners, property owners
are getting these increases.
Get a light green notice from Webster J Guillory
he’s increasing your property tax bill?
It looks innocent enough.
It says (THIS IS NOT A BILL).
It’s a tax increase.
The State of California is broke.
Statewide homeowners, property owners
are getting these increases.
Property tax increases are determined
by home values, not made up by local governments.
Want to know what formula your assessor used to calculate increases in your property taxes? Give me a call.
by home values, not made up by local governments.
Want to know what formula your assessor used to calculate increases in your property taxes? Give me a call.
Proposition 13 is getting push
back.
Notice on your bill the assessor may have
increased the base year amount of value.
On one of mine they increased the basis (the original sales price) about twenty percent. This could mean thousands of dollars in property tax increase for my bill. It is an error.
Notice on your bill the assessor may have
increased the base year amount of value.
On one of mine they increased the basis (the original sales price) about twenty percent. This could mean thousands of dollars in property tax increase for my bill. It is an error.
Some jurisdictions use a home's
actual market value,
while others use a percentage of a property's worth.
while others use a percentage of a property's worth.
Whatever value is used, it's
multiplied by the local tax rate to compute the property's final bill (about
1.25%) As home values now are increasing
counties are looking for extra revenue. They will up your assessed values
sometimes in great excess of the real value. Can you see them rubbing their
hands together?
The National Taxpayers Union
estimates that sixty percent of taxable property in the United States is
over-assessed.
The tax man gets his money. They
don’t make the process easy on purpose. Elderly and minorities are the least
likely to appeal.
DEADLINE IS SEPTEMBER
15th in Orange County.
This in itself is a
trick. Many counties, Riverside for example made the window of opportunity to
file very small just so homeowners and property owners won’t file.
Deadlines, along with the appeals
process, vary in each county in California. The time allowed for an appeal is
short. It once was true that you could appeal year round, and as often as you
like. Counties made up rules (likely not legal) as to keep the number of
appeals or tax reductions down. You may have only 30 days to appeal. Or in some
smaller Northern California County offices you could have up to 120 days.
If your request for an appeal
arrives at the assessor's office even an hour after 5:00 on the protest deadline,
so sorry too bad. The wait is imposed until the following year (or sometimes
the next assessment, which could be longer) before you can appeal. Counties
have a habit of losing these appeals. I have read some statistics that twenty
percent of the appeals disappear. Send by certified mail AND go get a stamped
copy from the counter.
Assessments can be appealed on two
grounds: a mistake in the assessment of your house or an assessment at a higher
rate than comparable homes.
County appraisers also may use
historical information that's wrong. A home's square footage, for example,
might have been incorrectly calculated on original construction documents.
Obvious mistakes aren't difficult
to spot. Is the inhabitable square footage figure correct? Does the assessment
say your home has four bedrooms when it only has three? But you also should
consider checking the assessment's accuracy by comparing it with a recent
appraisal of your property.
Make sure that any property
changes, particularly those that would negatively affect the value of your
home, are part of the assessment. New commercial building next door? Bluebird
Canyon residents and neighbors mostly failed to use the slide and loss of road
access to reduce their bills.
Don't forget any modifications or
additions you've made. If you've torn down a gazebo, removed a garage or taken
away something structural the value may be lower.
The other way to challenge an assessment is to see how your home value is in reference to houses in your neighborhood. Comparable means homes of the same size, age and general location. They must be within 20% of the square footage, couple block proximity, similar construction and age. You will need to know if they have a pool or other improvements.
Learn the appeals procedure for the county
your property is located in. You can find the information on the county
government or tax assessor's website, and download the necessary forms. The
timing of your appeal is particularly important: San Francisco, for example,
accepts appeals of annual assessments only between July 2 and Sept. 15.
Need help? Call me I can walk you through
the fire.
Eagle Home Mortgage Rates for Conforming loans
SFR Owner Occupied Purchase under $417000 20% down FICO 721 Today 7/9/2014
Rates change several times a day This is not an offer to lend you money.
15 Yr. Fixed at 3.250%
|
3.644% APR
|
|
30 Yr. Fixed at 3.875%
|
4.142% APR
|
NMLS# 324982
Call your tax assessor and find how they
determined your value (if they will answer the phone). If you can show she wrote down the wrong
square footage for your house or the number of bedrooms, or that she missed an
exemption or deduction you're entitled to under the law you are on strong
footing.
File your appeal according to exact county
procedures. This will often include paying a fee. You'll be notified when your
appeals hearing is scheduled. If you don’t get notified, file again before the
deadline.
Collect evidence that your house was
overpriced. You may need to hire a Realtor or appraiser to give you a broker
price opinion. I have a program that can get you on the Multiple Listing
Service to find comps. You will need to not just state the comp address, sale
date in past 60 days, and square footage- you will need photographs and a
description of why the house is similar. If you can find comparable properties
that sold for substantially less around the time that your house was appraised,
this would be evidence that your value isn't what the assessor states.
You can try using the assessments on
similar houses for the same purpose, however getting access to the bills is not
as easy as the Assessor can view from their computer software. In other words-
the Assessor has tools to argue back. Know your facts.
In California assessed value only rises two
percent each year until a house is sold and reassessed: If your neighbor bought
his house 10 years ago and you bought an identical model last month the taxes
will be different.
Attend the hearing, or send a
representative in your place. Failure to make your scheduled hearing will
probably result in the board rejecting your appeal. Be prepared with any forms
or documentation you're required to have.
You may need six copies of the papers.
Here’s the link to OC form. They do not make it easy.
You will need your bill to file the form.
Do not trust the online application alone.
6/27/2014
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