Awesome story on the success of VA loans!

In an era when low down payment loans and no down payment loans from the past are usually the highest rate of default and generally the riskiest loans in the housing market, it is truly GREAT to hear that VA loans (which usually have no down payment) are some of the lowest risk and lowest rate of default mortgages in the housing market!

The article "Why VA Loans Lead in Foreclosure Avoidance" by Chris Birk (posted by DSnews - link below) cites 2 main reasons for the success of these loans: 1) there is a Loan Guaranty Program that actively helps and intervenes when a VA loan shows signs of risk; 2) underwriting standards that require a certain amount of residual income is left in the borrowers budget.

As a huge supporter and fan of our military and all of those who so bravely serve our country and serve and protect our freedoms as citizens, I cannot adequately describe how happy I am to hear this report, and to know that our veterans have these resources available to them.

Click HERE for the LINK to the DSnews article.

Visit my website at ConciseRealEstate.com for free MLS access, create your free account for listing alerts, free reports, real estate newsletter, and many more complimentary features and tools to help everyone interested in all types of real estate.

Mike Rosenthal​, Realtor(r), CDPE(r), PSC
Direct 818-968-2601
mike@conciserealestate.com
www.ConciseRealEstate.com - full service real estate site

http://www.hosted.cdpe.com/helpingsocal - CDPE site

DRE Lic# 01789852

Experience you can count on!  Over 100 Standard, Short Sale & REO homes successfully closed over the last 4 years ($40,000,000 in sales volume)

Beware - Foreclosure Prevention Fraud is on the Rise Again..

Hello again friends and homeowners.  As your local real estate professional, and as a CDPE (Certified Distressed Property Expert), I care very strongly about my community and friends and family, and helping homeowners in distress is one of strongest passions.  Unfortunately scammers like to prey on people in vulnerable positions, and this hurts my community, and I'm always looking to provide helpful resources to prevent fraud and help my community.

The most common frauds involve scammers charging an upfront fee with a promise or guarantee of preventing foreclosure.  Always beware of everyone who charges an upfront fee!  This includes charging fees upfront to negotiate a loan modification as well.

Another form of fraud activities involves scammers convincing homeowners to sign over or transfer title to the scammer's name.  While there are benevolent investors that have helped people by using this approach, unfortunately the "good" investors are rare and the scam-artists FAR more common.

For in-depth reports, please go to the RESOURCES page of my CDPE website to access or download tons of FREE resources that I provide as an outreach and service to all homeowners and friends and family.

One of the best ways for homeowners to find help is to talk to a local, licensed Realtor.  Most Realtors (like myself) are bound by a code of ethics that they take very seriously and will lose their licenses if they commit fraud.

If you or anyone you know is facing difficulties, or if they have questions or concerns about foreclosure fraud, please have them contact me today.  All of my consultations are always FREE with no obligations.

The DSNEWS also has an article on foreclosure scams here.

Mike Rosenthal​, CDPE, PSC
Direct 818-968-2601 / Office 805-978-5530
mike@conciserealestate.com
www.ConciseRealEstate.com - full service real estate site

http://www.hosted.cdpe.com/helpingsocal - CDPE site

Experience you can count on!  Over 100 Standard, Short Sale & REO homes successfully closed over the last 4 years ($40,000,000 in sales volume)

Did You Know??... 1st Round of Payments to Eligible Borrowers goes out 4/12/13 (Part 1 of 2)

Did you know?... Beginning April 12, the 1st wave of payments to eligible borrowers (from $300 to $125,000) from the settlements with 13 bank servicers are being sent out?  These check payments to borrowers are the result of State and Federal lawsuits brought against the big banks and servicers for the "robo-signing" allegations, wrongful foreclosure actions, and deficient foreclosure and servicing actions.

To see more details, go the Federal Reserve Board's website or click HERE to see the FRB's article post.

The Federal Reserve Board has also posted this LINK with details on payments under the recent agreement.

There are nearly 4 million borrowers that qualify for these checks, but of course a large portion of these checks are only for $300-$800 depending on the circumstance.

Stay tuned - I will be posting Part 2 of this article this week with additional info and some opinions on these actions, and what it all means for homeowners and borrowers.

Mike Rosenthal​, CDPE, PSC
Direct 818-968-2601 / Office 805-978-5530
mike@conciserealestate.com
www.ConciseRealEstate.com - full service real estate site

http://www.hosted.cdpe.com/helpingsocal - CDPE site

Experience you can count on!  Over 100 Standard, Short Sale & REO homes successfully closed over the last 4 years ($40,000,000 in sales volume)

First Time Homebuyer Activity Increasing

Trends appear to be showing an increase in first time homebuyer traffic, interest and activity.  What does this mean for the Real Estate market activity in Ventura County, Malibu, and the San Fernando Valley?  There appears to be a correlation indicating first time buyers are concerned about rising prices and the future possibility of rising interest rates.  An article by Esther Cho of the DSNews cited statistics from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey.

This is in line with what I have been advising both buyer and seller clients in our local markets - we are experiencing a shortage of inventory and for anyone who has been sitting on the sidelines, now is the time to act, especially for buyers.  There are several causes for the current shortages (which I will go into in an upcoming post this month), but regardless of causes, the reality is that prices are surging, and we may have seen the bottom last year.

Several clients have shared that they feel they are overpaying at the current levels, but if indeed 2012 was the bottom, then we are in an upswing trend and it may be a long time before prices come back to where they are TODAY...  The day of finding the screaming deal may have passed us by already.  For buyers who want to get in on the early part of the upswing, use my free MLS search on the Find A Home page of my full service Real Estate Website at http://www.conciserealestate.com/.

Please feel free to contact me directly via phone 818-968-2601 or email at mike@conciserealestate.com.  Real Estate is my passion and I love "talking shop" and helping people by consulting on buying and selling Real Estate.  I will welcome ALL inquiries -  even if you're not in the market to buy or sell right now and you just want to know about the market, please feel free to call.

Mike Rosenthal​, CDPE, PSC
Direct 818-968-2601 / Office 805-978-5530
mike@conciserealestate.com
www.ConciseRealEstate.com - full service real estate site

http://www.hosted.cdpe.com/helpingsocal - CDPE site

Experience you can count on!  Over 100 Standard, Short Sale & REO homes successfully closed over the last 4 years ($40,000,000 in sales volume)

Real Homeowner Stories: A Fresh Start

For homeowners who are in danger of losing their home to foreclosure, it is common to feel like you are all alone and that there is no one who can help. This simply isn’t true. There are real people who have been in the same situation who have found solutions. Take, for example, Dan and Jessica M. of Grand Blanc Township, Michigan.

For Dan and Jessica, their homeownership dream always involved building a house on a piece of land. “We build a house on half an acre,” said Dan.

In order to achieve their dream, they stretched a little beyond what they were comfortable with by getting two adjustable rate mortgages, a common practice at the time. “The introductory rates were 8.5% and 11.5%, but our lender said, ‘Don’t worry, you can refinance after two years.’”

For a while, they were getting by. Then, a couple of things happened. “We had our first child, and soon afterward, Jessica lost her job,” said Dan. “Soon, bills started piling up.”

Because they believed they’d be able to refinance, they started paying their bills on credit cards. “We hung on for the full two years hoping we could refinance at a lower interest rate, but when the time came, our lender said no because our home’s appreciation was too low.”

Dan and Jessica needed help. A friend referred them to a real estate agent who was a Certified Distressed Property Expert®. The agent answered their questions. Most importantly, the agent explained the difference between a foreclosure and a short sale. In a short sale, the bank agrees to allow the home to be sold for less than the amount due on the loan.

“With this information, we were able to decide that a short sale was our best option.”

It was a stressful process, but the agent helped them tremendously. She even kept a potential buyer from walking when the process was taking longer than expected. “Honestly, if it weren’t for her, the buyer would have left and we’d have been stuck.”

Dan and Jessica’s story is just one of many. I have a free report entitled “From Foreclosure to Freedom” which tells other stories of real homeowners who faced foreclosure and found relief. Download the report, read the stories, and then contact me for a free, confidential consultation.

Mike Rosenthal​, CDPE, PSC
Direct 818-968-2601 / Office 805-978-5530
mike@conciserealestate.com
www.ConciseRealEstate.com - full service real estate site

http://www.hosted.cdpe.com/helpingsocal - CDPE site

Experience you can count on!  Over 100 Short Sale & REO homes successfully closed over the last 4 years ($40,000,000 in sales volume)