Tami Winbury
Family Friendly Service
Friday, February 24, 2012
Wednesday, February 22, 2012
What to Do when YOUR Mortgage Payment is Behind?
What to do when your Mortgage Payment is Behind?
What Are Your Options?
Once your mortgage payment is behind you only have a few options.
Call Tami Winbury for a confidential FREE Consultation. I understand the stress you are feeling. You have questions. I have answers.
1. Contact Your Mortgage Lender. Let your mortgage lender know why you are behind on your mortgage payment. A mistake most individuals make is to not talk to their mortgage lender to explain their situation once they are getting behind. The more cooperative you are upfront the better chance you can work it out with them. You should be calling the first moment you know you may get behind on the mortgage payment.
2. Get Current on Mortgage Payments You Are Behind. Try to get money together as soon as possible to bring the mortgage payments current. Be sure to call your lender and ask for a current amount owed before mailing your payment as you do not want the mortgage lender to send it back because you only sent a partial payment. If you think you cannot get current within the first thirty days and the mortgage lender is not willing to work out a mortgage repayment plan, you should look into a mortgage refinance.
3. Mortgage refinance. You may try to refinance your mortgage to bring it current and pay-off the lender. If you do not have "reserves" you should consider getting cash-out to insure you do not get into the same situation within a few months, especially if you know your financial situation is not changing. You may do this assuming you credit score is still high enough and you have enough equity in your home.
4. Sell Home. If you are unable to do a mortgage refinance to bring the mortgage payments current you should seriously consider selling the home before going to foreclosure. Late mortgage payments reflected on your credit report will only be shown for 7 years. This is important because if you “net” enough money from the sale of the home, you can use that to rent another home for a period of time until you get back on your feet and then purchase another home because your credit report will still be o.k. Call Tami Winbury 805-798-3412 and team for a Free Consulation and Market Analysis.
If you go through the foreclosure process that will stay on your credit report for about 10 years and you will have difficulty buying a home for up to five years after the foreclosure (without a large down payment).
Each year thousands of homeowners mortgage payments get behind because of job loss, divorce illness. Avoid foreclosure and losing your home with some tips during this period. First, the most important thing is to take action as soon as possible. Second, sign up here for additional information.
Qualified Short Sale Specialist who cares.
Friday, February 17, 2012
Thursday, February 16, 2012
What is Escrow
Escrow for the Seller
Call Tami Winbury Keller Williams Realty for all your Real Estate questions. 805-798-3412 DRE#01878369 www.ShortsSale.orgTo be “held in escrow” sounds ominous, as if someone or something is trapped in an inescapable enclosure. But actually being held in escrow is more like being held in protective custody.
Remember your buyer’s earnest money? Immediately after you accepted her offer, the earnest money check was given to your agent, the buyer’s agent, or an attorney — depending on local custom and regulation — to be held in escrow, that is, in a state of protective custody by an impartial third party.
Any of us could place something in escrow. Say we owned an original Picasso and put it up for sale. A buyer writes up a $10 million offer accompanied by a $500,000 deposit check.
The buyer wouldn’t want us to deposit the check in our own personal account until he could have the painting authenticated. And we wouldn’t want him to take ownership of the painting until we had the balance due — and not in the form of a personal check.
So we might agree to hire an escrow agent to hold the deposit check, verify all the paperwork, and see that the proper amounts of money — in a guaranteed form — get deposited to our account.
Escrow is a word many of us learn for the first time when we buy or sell a property. But it is a confusing word because it also can mean the state of being in escrow, the escrow agent (the person or company), and “the escrow” process — the weeks-long period of closing that lasts until ownership is transferred to the buyer.
And then there is the “closing of escrow,” which takes place only after the essential documents are recorded at the appropriate county office and all the money that’s changing hands is distributed. Who Chooses the Escrow Agent?In some parts of the country, the seller’s listing agreement says that the seller will choose the title and escrow companies. But when a buyer writes up an offer, it may include language saying the buyer wants to choose the escrow company.
Local practices may play a role. In some parts of the country, the closing attorney handles escrow. In the West, where it is more common for an escrow agent or title company to handle closing, either the buyer’s agent or seller’s agent often is the person who opens the escrow.
A typical scenario is that the seller picks the title company and the buyer the escrow agent.
Seller’s Tip: Who handles escrow is negotiable as part of the offer. Either seller or buyer can be responsible, as long as both parties agree in writing. Fees for Escrow The escrow, or closing, agent charges a flat rate depending on your sales price, and although fees vary, practically speaking neither seller nor buyer usually invest much time in comparison shopping. Typically, they follow their agent’s recommendation on which company to use.
The fees may be paid by the seller, the buyer, or they may be split, according to local practice or the deal negotiated. How is Escrow Opened?Whoever takes responsibility for opening escrow will take the earnest money check, a copy of the signed purchase and sales agreement, and the names and addresses of all parties involved in the transaction to the closing agent who opens the account.
From now on the closing agent is the gatekeeper for all the documents everyone will provide to reach the closing date specified in the sales contract.
Call Tami Winbury Keller Williams Realty for all your Real Estate questions. I reccommend Danielle Franklin at Stewart Escrow in Ventura 805-798-3412 DRE#01878369 www.ShortsSale.org
Friday, February 3, 2012
Foreclosure comprised 20% of all U.S 3Q
Foreclosure comprised 20% of all U.S 3Q |
| The average foreclosed home sold during the quarter took 193 days to sell. That was up from 172 days in the previous quarter and 161 days in the third quarter of 2010. Call Tami Winbury Keller Williams Realty for all your Real Estate needs. Short Sale, Foreclosure and Bank Owned designated to help answer all your questions. www.shortssale.org 805-798-3412 DRE#01878369 That share is a significant decline from the same period in 2010, when foreclosed homes made up 30% of residential sales, but it's still a far cry from levels seen during healthier housing markets when foreclosures comprised less than 5% of sales. 
One reason for the year-over-year decline is that fewer homes are making it through the foreclosure pipeline, said Daren Blomquist, a spokesman for RealtyTrac. Banks have slowed the processing and sale of foreclosures as they attempt to make sure they are not mishandling paperwork or attesting to facts that they have no knowledge of, both actions that were exposed during the robo-signing scandal. "The number of REOs (bank-owned properties) coming onto the market has been artificially limited because of processing issues," he said. "That has reduced supplies."As a result of these delays, the average foreclosed home sold during the quarter took 193 days to sell. That was up from 172 days in the previous quarter and 161 days in the third quarter of 2010.Banks have also refrained from selling some distressed properties in order to avoid flooding the market with "for sale" signs that will weigh further on home prices. "There's a healthy demand for these homes: People see them as buying opportunities. But banks are not listing them as quickly as they could," said Blomquist. For buyers and investors, there are indeed bargains to be found. On average, REOs sell for 42% less than conventional sales nationwide. The smallest discounts are generally in places hardest hit by foreclosures. In those markets, so many of the sales are foreclosures that anyone selling a home has to price it very competitively, said Blomquist. In Nevada, where foreclosure-related sales accounted for 57% of all residential sales during the third quarter, repossessed homes sold for only 20% less than conventional ones.  Foreclosures: America's hardest hit neighborhoods |
Thursday, February 2, 2012
Trends for Kitchen Remodeling in 2012
Trends for Kitchen Remodeling in 2012 |
3 Hot Trends for Kitchen Remodeling in 2012
Mulling a kitchen remodel but want to keep costs low? You’re au courant with today’s trends that emphasize options and high-tech wizardry at affordable prices.
Trend #1: Remodeling scales back A new focus on moderation and value has entered the remodeling mind-set. Trends that are likely to show up in your kitchen next year include: You’ll repair your existing appliances instead of replacing them, extending their life with good maintenance and care. If you’re replacing cabinets, you’re likely to build around your current appliances rather than choosing new models. You’re scaling back your cabinetry purchases, with an increased emphasis on kitchen storage and functionality over elaborate decoration. For example, rather than stacked crown moldings throughout the kitchen, you’ll put your money into practical roll-out trays and drawer organizers. Small-scale kitchen projects are big news. Changing out cabinet hardware, replacing a faucet, and refacing your cabinets upgrades your kitchen without major expense. Trend #2: Simpler, warmer styles dominate Fussiness and excess have faded away in favor of pared-back looks that present a more timeless, value-conscious style. Cabinet decoration continues to streamline. For example, massive corbels, once fashionable as undercounter supports, will give way to sleeker countertop supports and cantelivered countertop edges. Stacked moldings will pare back or disappear entirely. Elaborately glazed finishes will yield to simpler paints and stains. Kitchen finishes will continue to get warmer and darker, and feature natural and stained woods. Walnut especially is growing in popularity. Laminate countertops will continue to surge in popularity, especially in contemporary design. The latest European-inspired laminates offer more textured and naturalistic finishes than ever before. While exotic wood kitchen cabinets are out of reach for most home owners, glossy, look-alike laminate versions can be had for about one-third the price. Trend #3: Technology expands its kitchen presence Many of the techno products and trends that relate to your smartphones and tablets have just started making their way into your local showrooms and home centers. Appliances will be equipped with USB ports and digital screens so you can display your family photographs and kids’ artwork. Smart, induction built-in cooktops ($500-$3,000) remember your temperature settings as you move your pans across their entire surface. One light finger touch is all it takes to open the electronically controlled sliding doors of your kitchen cabinets — a boon to people with limited mobilities. You’ll pay 40% to 70% more for cabinets with electronically controlled doors than standard models. You’ll be able to use your smart phones and tablets to control lights and appliance settings from anywhere you have a wi-fi connection, as well as to shop for appliances from major manufacturers. You’ll be opting for LEDs for your recessed lights, under-cabinet task lighting and color-changing accent lighting. You’ll see more LED-powered pendants and chandeliers from major manufacturers as inefficient incandescent bulbs continue their march toward extinction. A wide selection of affordable microwave ovens with convection and even steam features gives owners of smaller kitchen spaces more high-end cooking power. What improvements — big or small — are you planning for your kitchen this year? Call Tami Winbury Keller Williams Realty for all your Real Estate needs and for a free home analysis. 805-798-3412 DRE#01878369 www.WinburyRealty.com By: Jamie Goldberg |
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