Trying to buy a home? New Ways to Come Up with a Down Payment!

If you are thinking of buying a home, you will need a minimum down payment of about 3.5 percent of the purchase price. You might begin to panic if you don’t know where to begin. But there is no need because I have prepared five ways you can come up with a down payment to seal the deal.

1. Gift Money: yes you can use Gift Money for down payment. Money that was given as a gift from family or documented close relationship can be used towards a down payment. The giftor needs to provide a gift letter and a paper trail for amount they are gifting for the benefit of the buyer. In addition, they will have to provide a bank account showing that they had the ability to gift the money.

2. 401(k)/Retirement Loan for down payment: Typically, borrowed funds for a down payment are not acceptable, but isn’t there an exception to any rule? In this case it’s a 401(k) or an equivalent retirement account or event a current home equity line. All of these are accepted for obtaining a purchase mortgage loan.

3. Sale of a Good: Have you considered selling your recreational vehicle and using the net proceeds from the transaction as your down payment? For instance,  let’s say that you decide to sell your motorcycle for $10,000. You’ll need to provide your mortgage lender with the full bill of sale, the bank statement depositing those funds and matching the bill of sale. As long as you can prove the sale from start to finish, you should have no problem using that money towards your down payment.

4. Trust Funds, Settlement Awards, etc.: If you happen to receive an inheritance, settlement, lottery winning, trust fund disbursement, family buyout, or even a gambling victory, all of these can be used for the down payment as long as the sourcing is fully documented from start to finish.

5. Line of Credit for down payment: Where a down payment lacks,  strength in income can compensate. You can take out a personal loan or a line of credit and deposit the full funds into your bank account. After two months, the funds will be eligible for use in the transaction.

So if you don’t have a down payment for your dream house, you now know where to look!

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Best Value For Roseville Two Story? 402 Community

Bring the kids! Work from home in Roseville!

402 Community Drive

Roseville, CA 95678

Bedrooms: 5

Bathrooms : 3 (3 full)

List Price: $245,000

Living Area Approx :
2999

Bring the kids! Work from home in Roseville! This family friendly two Story Fixer in Roseville is a steal! 5 bdrm 3 bath home is close to I-80 yet sits on a quiet street. This Roseville Home is across from a community park with play area, tennis, baseball, basketball areas. Bonus room of over 400 sq ft already has wet bar and built in desk with cabinets. This is a light fixer in Roseville and priced to sell! Needs new roof, flooring, paint and clean up. Take advantage of this low price and customize to suit your taste.

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Bring the kids! Work from home in Roseville! This family friendly two Story Fixer in Roseville is a steal! 5 bdrm 3 bath home is close to I-80 yet sits on a quiet street. This Roseville Home is across from a community park with play area, tennis, baseball, basketball areas. Bonus room of over 400 sq ft already has wet bar and built in desk with cabinets. This is a light fixer in Roseville and priced to sell! Needs new roof, flooring, paint and clean up. Take advantage of this low price and customize to suit your taste.

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How Do I Increase My Credit Score?

 

 

 

Your Credit Score Can Easily Be Increased!

 

How Do I Increase My Credit Score? Can I increase my credit score myself?

I’ve recently been getting lots of inquiries about credit scores. So here’s some quick tips to help you increase your overall credit score.
First, never cancel a credit card that is more than 2 years old. Having a “seasoned”
account, one that is more than 2 years old is a big plus for you. Next, increase your maximum allowable credit limit. In other words, if you have a credit card that is close to its maximum balance, call the credit card company and ask them to increase the credit limit.

The credit bureaus don’t like to see maxed out credit. Tell them you would like them to do this without pulling your credit. You should also spread out your balances among your cards. Try to keep the ratio between card balances and credit limit to 30% or less.

If you are even considering buying a new home or refinancing, let me know! I work with several credit specialists that will quickly take a look and see if we need to do some work to get your credit score up. Since lower scores mean higher interest rates, even a few lost points on your credit score could cost you tens of thousands of dollars in wasted interest payments. Don’t wait! Call, text or email me soon so I can schedule your complimentary credit review. I am here to help improve the quality of your life and to save you some of your hard earned money.

Thanks again for letting me enter your world each week and thanks for the referrals of your friends and family. I appreciate it and so do they, I promise you that!

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Sacramento Wells Fargo Short Sale Specialists Explains Relocation Assistance Programs

Wells Fargo Sacramento Short Sale Relocation Assistance

Wells Fargo Sacramento Short Sale - WF Has A Great Short Sale Relocation Assistance Program For Eligible Homeowners

We are Sacramento Wells Fargo Short Sale Specialists With Several Sacramento Short Sale Relocation Assistance Transactions Pending Right Now…

Many Banks Have Programs!

Does your bank have a Short Sale Relocation Assistance or Sacramento ‘Short Sale Cash For Keys’ Program?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Wells Fargo Will Pay Up To $5,000 PLUS HAFA’s $3,000 For You To Do a Short Sale! 

WHAT?

Yes! Qualifying homeowners who complete a short sale with Wells Fargo will have the chance to qualify for a relocation assistance payment of up to $5,000  We have closed several and have seen the checks!  The nice thing about this program is that it can be in addition to and/or in absence of any other program the sellers may qualify for (Like HAFA).

This program has been around for years and has is easy to administer; because, in fact, a local  Sacramento Wells Fargo Short Sale Negotiator will be assigned to your file to work as the banks negotiator!

And She Is Great! 

And these transactions close FAST!

We don’t know how long the program will last; so if you are upside down, have a loan with with Wells Fargo and  have been considering a short sale, now might be a good time to explore the short sale option.

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

How Do You Make Sure You Get the Largest Relocation Assistance Payment Possible From Wells Fargo?

The best way to ensure that you get every dollar you can from in Sacramento Wells Fargo Short Sale Assistance is to use an agent with extensive experience with them.  We are Sacramento Wells Fargo/Wachovia/World Savings Short Sale Specialists with years of  extensive experience with Wells Fargo.  We can answer all your questions on the program and help you get every benefit possible from Wells Fargos’s Short Sale Program.

More Questions about your particular situation?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center or call 916-346-3810

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Sacramento Short Sale Relocation Assistance Programs:Bank Of America

BofA Short Sale Relocation Asssistance Pays Up to $30,000

Short Sale Relocation Assistance Pays Up to $30,000 From BofA

HAFA Certified Short Sale Relocation Specialist UPDATE:

We are Sacramento Bank Of America Short Sale Specialists With Several Sacramento Short Sale Relocation Assistance Transactions Pending Right Now…

Does your Bank Have A Short Sale Relocation Assistance or Sacramento ‘Short Sale Cash For Keys’ Program?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Bank Of America Will Pay Up To $30,000 for you to do a short sale! WHAT?

Yes! Bank of America Recently announced a new Short Sale Program for California: a Short Sale Relocation Assistance Program in which qualifying homeowners who complete a short sale with Bank of America will have the chance to qualify for a relocation assistance payment of up to $30,000. We have several in the works right now, none as large as $30,000, they are $3,000, $4,200 and two more that have not been determined but the range is between $1,500 and $4,500, according to the Short Sale Negotiators. The nice thing about this program is that it can be in addition to and/or in absence of any other program the sellers may qualify for (Like HAFA).

This is a brand new Short Sale Relocation Program for California, it has been active in Florida for several months and they obviously liked the results and expanded the Bank of America Short Sale Relocation Assistance Program to California

We don’t know how long the program will last; so if you are upside down, have a loan with with Bank of America and  have been considering a short sale, now might be a good time to explore the short sale option.

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

How Do You Make Sure You Get the Largest Relocation Assistance Payment Possible From Bank of America?

The best way to ensure that you get every dollar you can from Bank of America is to use an agent with extensive experience with them.  We are Sacramento Bank Of America Short Sale Specialists with years of  extensive experience with BofA.  We can answer all your questions on the program and help you get every benefit possible from Bank of America’s Short Sale Program.

More Questions about your particular situation?

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center or call 916-346-3810

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Sacramento Short Sale Relocation Specialist Answers: Servicer and Investor; Whats The Difference?

Sacramento HAFA Relocation Assistance Short Sale Expert

Sacramento HAFA Relocation Assistance Expert and Sacramento Short Sale Specialist Explains Servicer, Lender

Lender, Servicer, Borrower, Investor

As a Certified HAFA Short Sale Specialist, Sacramento Short Sale Relocation Expert and Short Sale Specialist in Sacramento, I spend a lot of time answering questions and explaining and visiting with people who are exploring their options in today’s mortgage mess and Relocation Short Sale programs in Sacramento.

One of the most common questions I get is:

Who is my lender?  Well; what do you mean by that? I answer that question with another question: Is your lender the servicer, or are they the investor?

You see, most of the time,  your ‘lender’ does not actually own your loan anymore. After they gave you the loan to buy your house, they immediately sold your loan behind the scenes to an “investor”. And the investor then retained your ‘lender’ to service the loan. Servicing a loan usually includes sending you a statement every month, collecting the payment, paying the property taxes and homeowner’s insurance.  The ‘servicer’ then receives payment for administrating – or servicing – the loan. This is who the public deals with.  These servicing contracts also cover servicing anything to do with mitigating loss, ie. loan modification, foreclosure or died in lieu or short sale.

In contrast, the Investor – also known as the noteholder – is the actual party that OWNS THE LOAN. They are the people behind the servicer that make the decision whether or not to a accept a short sale. In most cases, 9Up to 80% of the time) the investor on any given loan is Fannie Mae or Freddie Mac. Click on the names below to find out if either of these entities own your loan.

Who Owns My Home Loan?

Does Fannie Mae Own Your Loan?

 

Does Freddie Mac Own Your Loan?

If they do not, your loan may have been sold to a private investor as well; Many insurance companies, hedge funds, pension funds, and even municipalities purchased these loans. The other option could be is it is actually owned by your bank and is what is commonly referred to as a portfolio loan.

When we begin working on a Sacramento short sale, especially a  Sacramento Short Sale With Relocation Assistance one of the very first things we do is determine who is the servicer and who is the investor. It’s important for us to know, as they all have their own guidelines and policies, so we need to know who we are dealing with and find the ultimate decision maker in order to get a Sacramento short sale approved. While short sales are emotionally taxing for sellers and buyers, they are simply economic decisions for the investors. The investor – along with the servicer’s assistance – makes a determination of which option – foreclosure or short sale – will results in the smallest loss to the investor.

Questions On Your Particular Situation and your Sacramento Short Sale Options? Do Not Wait!! Time Is Of The Essence! The Foreclosure Process and California Foreclosure Timelines And California Short Sale Timelines are ticking away!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center.  Sacramento, CA Short Sale Expert and Certified HAFA Short Sale Specialist Forth Hoyt Can Help You Determine Your Eligibility for HAFA Short Sale Program!

 

 

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How Long is it Taking In Sacramento County For The Bank to Foreclose

How does the foreclosure process work in California? What is the legal amount of time to foreclose in California? How long to foreclose in Sacramento?

 

 

Graph of Time to Foreclose in Sacramento County
06067 – Time to Foreclose in Sacramento

 

California Foreclosure Timelines and Foreclosure Information for California

California State Foreclosure Time-Frames, Foreclosure Timelines in California And Time to Foreclose in Sacramento California
What is the time to foreclose in California? Get the Latest Charts on California’s Foreclosure Timelines here.

According to Forecloureradar.com, the average time for a foreclosure to be completed in Sacramento County is now 210 days.

The timelines for California Foreclosures now stands at 264 days. This is the amount of time from the Notice of Default to the trustee sale.

California Notice Of Default- The Beginning of the California Foreclosure Process beginning of the foreclosure process

These calculations of time to foreclosure in California and Sacramento foreclosure process time lines both use the filing of the Notice of Default as the initial day of the foreclosure process. It does not take into consideration the amount of time the homeowner made no payments before the NOD was filed. Depending on the bank, servicer and investor of each loan, this can be anywhere from 90 days to over two years…. since the last payment (The NOD legally cannot be filed until the loan is 60 days past due).

The legal foreclosure Time Lines in California and Time Line Chart for the

Legal Non-Judicial Foreclosure Process in California is:

Califronia Foreclosure Time Line And Process

California Foreclosure Time Line And Process

There have been more changes to California’s Foreclosure Timeline. Actually just one more step: The Bank or Servicer  must contact you and/or whoever else is on the mortgage loan, by phone or in person, to assess your financial situation and explore your options to avoid foreclosure and must advise you during that first contact that you have the right to request another meeting about how to avoid foreclosure. That meeting must be scheduled to take place within 14 days.

They cannot start the foreclosure process until at least 30 days after making contact to do that assessment and explore options to avoid foreclosure.

You may designate a HUD-certified housing counseling agency, attorney, or other adviser to talk on your behalf with the servicer or lender about ways to avoid foreclosure.

You get a chance to accept or reject any loan modification or other foreclosure avoidance plan that your representative and the lender/servicer come up with during that conversation. After taking these steps, if no foreclosure avoidance plan has been worked out, the foreclosing entity must record and serve the homeowner (and anyone else listed on the title) with a Notice of Default. The California Notice Of Default- The Beginning of the California Foreclosure Process

A minimum of three months after serving the Notice of Default, the foreclosing entity must file and serve the homeowner (and anyone else on title) with a Notice of Trustee Sale. A minimum of twenty days later, the property can be sold at a foreclosure sale. Here in Sacramento County, Trustee Auctions Location  (held nearly every business day) is at 720 9th St. Sacramento.

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El Dorado Hills, CA HAFA Specialist Reports

HAFA gives Homeowners $3,000 After Short Sale Closes!

HAFA Short Sale's $3,000 Cash For Keys!

Forth Hoyt, El Dorado Hills CA Certified HAFA Short Sale Specialist, Expert Short Sale Negotiator and Certified HAFA Short Sale Specialist explains changes and extension to HAFA Short Sale Program.

El Dorado Hills  HAFA Expert and Certified HAFA Short Sale Specialist Forth Hoyt Reports a HUGE HAFA UPDATE ! HAFA has not only been extended, it has also been updated! It has now been extended a full year, to the end of 2013 and you don’t have to be living in your home AND you can SHORT SALE YOUR EL DORADO HILS HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

FIND OUT! I am a Certified HAFA Expert

Am I Eligible For HAFA?  We can find out in Five Minutes!! Call me Right Now! 916-316-3810

or Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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HAFA CHANGES Allow Homeowners to Short Sell Without Going Late!

 

 

SHORT SALE YOUR HOME WHILE STILL CURRENT! NO “HIT” TO YOUR CREDIT!

 

This is HUGE!!

HAFA IS HOT! As a Sacramento Short Sale Expert and Certified HAFA Short Sale Specialist I am getting at least five calls per week: Am I Eligible For HAFA? What are the HAFA Eligibility Requirements? Am I Eligible For HAFA?

Do you have only one loan? Do you have two or even three loans? Doesn’t really matter as long as everyone agrees: Each Servicer/Investor (who service and own your loan)  must be participating in HAFA: Entire List Of Mortgage Servicers Participating In HAFA

Call me today- 916-316-3810

In five minutes we can find out whether you are eligible for HAFA’s Recourse protection and HAFA’s $3,000 In Cash For Keys (Relocation Assistance)

Questions On Your Particular Situation? Do Not Wait!! Time Is Of The Essence! The Foreclosure Process and California Foreclosure Timelines And California Short Sale Timelines are ticking away!

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

Sacramento Short Sale Expert and  Sacramento Certified HAFA Short Sale Specialist Forth Hoyt Can Help You Determine Your Eligibility for HAFA Short Sale Program!

Am I Eligible For HAFA?

 

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If a Homeowner Wants to Keep Their Home in Sacramento

Mortgage Issues

CDPE Short Sale Specialist

Upside down in Sacramento? Mortgage Problems in Sacramento? Is your Sacramento Home Upside Down?  Who can help you with Mortgage Problems in Sacramento? What can you do if your Sacramento Area Mortgage is Too Much?

As a Certified Distressed Property Expert, I understand the many options available to Sacramento Area Homeowners who are struggling with a mortgage payment that has become out of hand.

 

HOW TO KEEP MY HOME… Homeowner Help Center

Quieting Your Mortgage Storm 916-316-3810

There are several Foreclosure Alternatives Available to Sacramento Area Homeowners.

There are several alternatives for a homeowner to consider when foreclosure is looming. Before proceeding, a homeowner must first choose whether or not he or she wants to keep his or her home.

If a homeowner wants to keep their home:

  • Repayment plan: The homeowner establishes a payment schedule with the lender to pay the delinquent amount.
  • Special forbearance plan: The homeowner requests a temporary reduction or payment suspension that will be increased after a set specific period of to repay the delinquent amount.
  • Modifying the mortgage: The homeowner can refinance the debt and/or extend the term of the loan.
  • HUD partial claim: If the homeowner has a loan insured by the Federal Housing Administration the lender can get a one time payment from the FHA-Insurance Fund to get the mortgage payments up to date.
  • Refinance: The homeowner can negotiate a new loan with a different interest rate in order to make smaller payments.
  • All options listed are subject to approval of the lender.

If a homeowner does not want to keep their home:

  • Sell the house: Depending on the situation, the homeowner may be able to sell the house for more than is owed to the lender.
  • Assumption: The homeowner turns over possession of the house to another person who then assumes the responsibility of the payments.
  • Short sale: The lender and the homeowner come to an agreement to sell the home at a loss in order to get the homeowner out. Homeowners who either must move for their job, have a family situation that forces a move, have a financial “hardship” (which is now a very loose term) or have some other reason that is making a move more of a necessity than merely a choice are nearly always approved for a short sale..
  • Deed in Lieu of Foreclosure: The homeowner surrenders the property to the lender without further damage to his or her credit. Only works if the bank is willing (and this is recorded as a foreclosure on your credit).

Do These Real Estate Tips Really Apply to YOU? Find out more about your particular situation:

Contact us Today At Forth Hoyt’s Sacramento Short Sale Center

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