Beginning December 20, 2010 and running through June 30, 2013, at-risk Wachovia Pick -a-Payment customers in California may be eligible to earn principle forgiveness by making on-time mortgage payments. This is great news for those homeowners struggling , yet keeping up with their payments. Eligible homeowners are previous World Savings or Wachovia customers, prior to Dec 31, 2008.
A major award! Obvious “French” in origin–it says “Fragilly” on the box!
We will be drawing for our “Major Award” today for one of our lucky contestants in our “A Xmas Story” trivia contest. Stay tuned as the award will indeed be major!
Also, Allison will be discussing the latest settlement from the Attorney General of California and 9 other states with one of the big “Peer Banks”. This time it is Wells Fargo’s turn to pay for the shoddy loans which Wells Fargo inherited when purchasing Golden West Financial (aka World Savings) and Wachovia. You’ll recall the AG made a very similiar arrangement with BofA and their Countrywide portfolio of loans. They all invole the same type of loan, “Pickapayment” or “NegAm” loans. The settlement numbers, if fully realized, could top 2.4BILLIONS!!
If you suspect you MIGHT be able to get a settlement here’s the number to call: Toll Free–888-565-1422. Wells Fargo will ALSO be mailing out notices!! READ YOUR MAIL!! See the full press release by going to our Box.net site! Here’s the link! Click HERE!
2010 Year in Review–Part I–We’ll look at the market for last year. Do some dissecting, prognostications and general BS about the year that was!!
This is a super graphic as it shows the BOTTOM OF INTEREST rates has COME and GONE!! Another disturbing trend—UP! If you’ve been on the fence hoping for lower rates get thee to google, search Interest Rate History and you should have a revelation which says-“Wow! We are in historic times for LOW rates! I better take advantage of them NOW!”
And if you need help in finding a Realtor Allison Norman is a great choice. Her Clients are immediately directed to a special web site in which we PAY for YOU to search like we do through the MLS!! You don’t MISS a property!
She also puts out a “Want”, describing to the top agent’s in Marin and Sonoma County your home search criteria. WHY? We find homes BEFORE they hit the market!
We also will refer you to three top flight Loan Professionals and YOU can choose which one meets YOUR needs!
Then, YOU can choose WHEN you wish to preview homes as we supply you with addresses so viewing can be done by YOU! Find a home that grabs you? Call Allison and we get you in! We get paid to find you the best house at the best price with the least amount of hassles for you! We are NOT a Taxi Service! We negotiate, show you trends in the marketplace and have a combined 36+ years Exclusively here in Sonoma County!
Call Allison anytime: 707-799-3617 and don’t forget to email us with ANY Question you may have: firstname.lastname@example.org Because Allison believes we NEVER have a dumb question in a real estate transaction–just questions needing answers!
Carbon monoxide is a silent and deadly danger, and takes thousands of lives all around the world each year. In fact, peopledie every year from carbon monoxide poisoning without ever knowing what hit them. They simply slip in to unconsciousness and never come around, or they may already be asleep when they breathe in the carbon monoxide and simply never wake up again.
The sad thing is that many carbon monoxide related deaths could have been avoided with some basic precautions and a little vigilance.
By following the simple checklist below, you will make your home safer place this winter.
California has passed a new law that goes into effect January 1, 2011 regarding the use of carbon monoxide detection devices.
This new law, SB 183, enacts the 2010 Carbon Monoxide Poisoning Prevention Act that requires that a carbon monoxide detector be placed in any dwelling that is intended for human occupation. This is true for homeowners as well as owners of rental property. This law will effect all single family dwellings at transfer of ownership beginning Jan 1, 2011. Owners of existing single-family dwelling units must comply by July 1, 2011. All others must comply by January 1, 2013.
Venting Gas Water Heaters and Furnaces. This is a topic that is really important, especially this time of year. As the average temperature continues to drop and move toward freezing our use of gas fired furnaces and water heaters will increase and with it the likelihood that we may develop a problem. All gas fired appliances require fresh air to burn natural gas completely. The incomplete combustion of natural gas results in carbon monoxide (CO).
Carbon Monoxide is an odorless, colorless, and lethal gas. The only way to detect it is to use special meters. All gas fired appliances installed in a closet require vents open to the attic or crawlspace. Often these interior closets double as storage closets. This additional storage often blocks vents which can lead to incomplete combustion and the introduction of (CO) into your home. This is a potentially life threatening condition.
Here are a few tips to make sure your home doesn’t develop a problem:
(1) Install Carbon Monoxide Detectors in each room, near any gas burning appliances, and in the hallway leading bedrooms
(2) Clear out any closets designed for water heaters or furnaces of any excess storage
(3) Check the ceiling vent opening for a screen. Older homes have screened vents (wire mesh usually) to prevent insulation from falling down into the closet. Unfortunately this insulation with block the vent too. All screens should be removed to prevent blockage. You can build a small wood chase out of 2×8 to prevent insulation from falling down into the closet and keep the opening.
(4) Check the flue pipe to make sure it is properly attached at the top of the appliance
(5) Check that the flue pipe actually terminates above the roof line and not in the attic
(6) Check that the flue pipe rise at least 1 inch for every 6 ft of pipe. This tends to be a problem for appliances installed in basements, crawlspaces, or attics.
(7) Check the flue pipe for excessive rust of corrosion.
(8) Call your local gas and electric compan. They may offer a free home safety inspection.
Being LandLord of Your Own Manor Isn’t Always What it’s Cracked Up to Be!
If you decide you want to be a “landlord” for your own rental property, you may want to consider that this decision may involve a lot of hidden responsibilities that you may be unaware of.
In fact, by choosing to rent out your property, you have created a small business for yourself. This means new obligations to the property, the prospective tenant, and the tenant you eventually choose. Have you read the civil codes? Considered the State and Federal Fair Housing Laws? Looked at your obligation to local housing authorities who may also have a say in how you perform these landlord duties?
Q 9. If the borrower is an occupant of the property, and the lender forecloses judicially (not trustee’s sale), can the lender evict the borrower?
A If the borrower occupies one of the units in the rental property and the lender has foreclosed judicially, then the borrower is entitled to possession throughout the statutory redemption period (either three months or one year depending on the amount received at the judicial foreclosure) (Cal. Civ. Proc. Code § 729.030). The foreclosing lender can charge the borrower rent for this occupancy equal to the value of use and occupation (Cal. Civ. Proc. Code § 729.090(a)).
However, if the occupant/borrower fails to pay rent, the lender probably lacks the ability to evict during the redemption period. After the redemption period, the lender should be able to pursue an action for collection of unpaid rents. (Cal. Civ. Proc. Code § 729.090(a).)
Q 10. If the borrower is the occupant of the property, and the lender forecloses through a trustee’s sale, can the lender evict the borrower?
Sue Carrell began her real estate career in 1970 in Marin County. Within three years she was awarded the Annual Sales Associate Award by the Marin County Board of Realtors. This award was in recognition of the work that Sue did the previous year when she established an “intern” program at the local community college to educate and inform college-level students about the benefits of choosing real estate as a career choice. The very same day she received the award, she moved to Mendocino to sign papers on an old Victorian house in the town of Mendocino that she renovated into an award-winning Bed and Breakfast Inn on the Mendocino Coast. (www.MacCallumHouse.com) which was the first B&B opened in the town and was featured in Sunset Magazine. Her “Inn-story” was told in the May 1983 issue of Money Magazine, and the Christian Science Monitor.
Twelve years later, the inn was sold for a considerable profit and Sue moved to western Massachusetts where she renovated another two houses, one on Nantucket and one in Northampton. While doing this, she attended UMASS and completed two Master’s degrees in Public Administration (MPA) and Regional Planning (MRP) 1991. Ms Carrell returned to Sonoma County in 1991, ran for City Council in 1998 and was President of the Vista Del Lago Homeowners Association from 1993-1997. Sue returned to the real estate business in 2003.
NAR, the National Association of Realtors has issued a “Red Alert” call to action, asking all Realtors to join them in reminding congress how important theMortgage Interest Deduction (MID) is to national and local real estate markets, and to the economy as well.
There has been talk recently of changes to, or the elimination of, the homeowner’s tax deduction for mortgage interest. The federal policy choice to support and nurture home ownership has been in the Internal Revenue code since its inception. Now is not the time to undermine that basic decision.
The tax system does not “cause” home ownership, People buy homes to satisfy many social, family and personal goals. The tax system facilitates home ownership. The tax system supports home ownership by making it more affordable
The state of the real estate market, whether thriving or struggling, has a huge ripple effect, either buoying, or depressing local economies. Research has consistently shown that a reduction or loss in the MID will cause the value of existing homes to fall. Research also shows that this loss in value is never fully recouped.
With the help and support of its members, the National Association of Realtors has stood up, once again, in support of the MID. They are asking for your continued support.
Realtors, you can go to the NAR website, Realtor.org, and will be connected via cell phone to your representatives in the House, as well as in the Senate. There is also a list of talking points (from a Realtor’s stand point)
For anyone else interested in taking a stand and voicing your opinion, you can find your representatives by going to;