March 29, 2009 by Lynnell Woodward
March 26th, 2009
I came across this very interesting article today and I thought some of you might like it too.
The California Association of Realtors CAR published this… please read on
This week’s C.A.R. Mortgage Update contains information about mortgage modifications; the Federal Reserve’s plan to purchase government-backed IOUs; jumbo loans; mortgage support Web sites; condo rules; mortgage rates; how banks are preparing for President Obama’s housing plans; and increases in mortgage fees.
A consumer’s guide to mortgage modifications
With approximately 81,000 properties in California receiving a foreclosure filing in February, and one in five homeowners underwater nationwide, many consumers are seeking mortgage modifications, but may not understand how they work.
A loan modification is generally a temporary adjustment to a home loan that lowers the monthly payments by reducing the interest rate the borrower pays. In most cases, borrowers are eligible for loan modifications if they can prove their troubled mortgages can be brought back to good standing with the modification.
Consumers interested in learning more about loan modifications should contact a mortgage counselor at an agency certified by the U.S. Dept. of Housing and Urban Development (HUD). A list of agencies can be found online at www.hud.gov.
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Pleas be sure to contact me Lynnell Woodward at (818) 482-6690
Or visit my website at
http://lynnellsells.com/
Category los angeles realtor, southern california real estate, tujunga home sales | Tags: | No Comments
March 26, 2009 by Lynnell Woodward
I came across this very interesting article today and I thought some of you might like it too.
The California Association of Realtors CAR published this… please read on
This week’s C.A.R. Mortgage Update contains information about mortgage modifications; the Federal Reserve’s plan to purchase government-backed IOUs; jumbo loans; mortgage support Web sites; condo rules; mortgage rates; how banks are preparing for President Obama’s housing plans; and increases in mortgage fees.
A consumer’s guide to mortgage modifications
With approximately 81,000 properties in California receiving a foreclosure filing in February, and one in five homeowners underwater nationwide, many consumers are seeking mortgage modifications, but may not understand how they work.
A loan modification is generally a temporary adjustment to a home loan that lowers the monthly payments by reducing the interest rate the borrower pays. In most cases, borrowers are eligible for loan modifications if they can prove their troubled mortgages can be brought back to good standing with the modification.
Consumers interested in learning more about loan modifications should contact a mortgage counselor at an agency certified by the U.S. Dept. of Housing and Urban Development (HUD). A list of agencies can be found online at www.hud.gov.
To read the full story, please click here
Category community, real estate | Tags: foreclosure,loan modification,mortgage,rates,real estate | No Comments
March 17, 2009 by Lynnell Woodward
Just about everywhere I go in town I get asked “so how is the market, slow right” And I honestly have to answer it is different but slow well not exactly. The Real Estate market as most of us know fluctuates like the stock market. Right now it seems that the Real Estate Industry is trying to figure out where it is and what it is going to do next. Many are waiting for Obama’s plan to take affect and to see what impact it will have. I still find my career very interesting and satisifying dull is not what I would call it. If you or anyone you know would like to find out more information just log in or give me a call!
www.lynnellsells.com
Category community, real estate, Uncategorized | Tags: career,community,Obama,real estate,stock market,town | No Comments
March 10, 2009 by Lynnell Woodward
By now you have heard about the new $8000 tax credit for new home buyers. Many questions can be answered by going to the IRS home page (www.irs.gov) and clicking on the link for the “Update on Recovery Tax Provisions for Individuals and Businesses.” In addition you can download Form 5405 (First-Time Homebuyer Credit Form) and find details within the instructions for filing this form. I found this to be very informative and useful! If you are ready to start looking give me a call!
Category community, real estate | Tags: first time home buyer,home,irs,real estate,tax credit | No Comments
March 7, 2009 by Lynnell Woodward
The past few weeks have been very interesting in my world. I can’t really break apart my life into categories as in family, work and play since my life is my work and I thank the lord that my family understands this completely.
So first I have the rush of Village Baseball Season upon my household. The long days, the tryouts, the all over jitters I feel in my house from my son and husband yes dad he is just like a kid during this time.
Well they have lost their first 3 games and well it seems that the mood is quite glum at the moment; much like the Mortgage market.
If you don’t know I am a Realtor and have been for the past 2 decades and yes I have seen a turn in the market like this before yet this time it does feel different. It is like no one is really sure what will happen next and what to do about it. So those of us that can hang in there and keep moving along we do and all the while gain as much knowledge as much as possible to pass along to those of you who are interested.
In all honesty it really is a great time to buy, there are some great deals out there and there are lenders lending. If you are interested just shoot me an email or give me a call.
Category Baseball, real estate | Tags: Baseball,christian,dad,house,lending,loan,mortgage,real estate,village | No Comments
