Aim Real Estate Group's Blog

March 11, 2010

Did I miss you?

Filed under: Aim Real Estate Group,Special Message — David Northup @ 8:37 pm
Tags: ,

I’ve been out meeting and just saying “Hi” to people in French Valley recently. I didn’t get a chance to meet everyone as some people weren’t home when I stopped by. If I missed you, please take a look at this short video so I can introduce myself to you here.

Give me a call or send me an email. I look forward to meeting you in person!

– Temecula Real Estate

David Northup

David Northup on Active Rain

***********************************
David Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
www.aimreg.com
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

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April 1, 2010

Making Home Affordable – The banks get another report card

Making Home AffordableAccording to the most recent Servicer Performance Report, there has been a dramatic increase in the number of loans modified under the Home Affordable Loan Modification Program or (HAMP). The HAMP program is part of the Making Home Affordable Program launched by the Obama Administration in February 2009.

So how are the banks doing? What level of participation are different banks demonstrating?

Let’s take a look.

First an overview of the entire program. Here are some interesting statistics:

  • The number of permanent loan modifications is up by 45% since last month
  • More than 170,000 permanent modifications have been done (guaranteed lower payments for 5 years).
  • 91,800 additional modifications have been approved and are pending borrower’s approval/acceptance
  • Over 1,300,000 borrowers have received Trial Modification Offers
  • Median Savings for borrowers that received a  permanent loan modification = $518/month
  • Making Home Affordable has a goal of offering 3-4 million homeowners loan modifications by Dec. 2012.
  • 1,300,000 offers to date

Of the permanent modifications that have been done so far:

  • 100% had an interest rate reduction
  • 40.8% had the term extended
  • 27.8% had some sort of principal reduction/forbearance

The Hardship reasons for permanent modification were:

  • 57.4% Loss of income
  • 10.8% Excessive Obligations
  • 2.7% Illness

So how do individual banks compare?

One of the biggest questions homeowners have is “What are my chances of getting a loan modification with —— Bank?“. Here’s how the different banks compare.

HAMP Lender Participation

It’s pretty clear that while GMAC is not the biggest servicer, they are doing more loan modifications per loan they service than any other bank. It’s also pretty clear that while Wachovia has become a Listing Agent’s favorite bank to work with on a Short Sale (see my post on that topic here – Wachovia / Wells Fargo reaching out to Temecula Homeowners), they are far more interested in doing Short Sales (and foreclosures) than HAMP loan modifications.

Here are the total numbers by servicer.

HAMP Activity by Servicer

Here is a look at the types of Investors behind the loans that have been modified.

HAMP Loan Types

And one last chart to show the MSAs with the highest HAMP activity.

HAMP Activity by MSA

The numbers show that my area of Riverside/San Bernardino/Ontario is 5th in the nation with regard to HAMP activity.

If you want to see the entire report you can access it from my site at http://aimreg.com/-hamp.asp on the left sidebar. As of this post, the Feb 2010 report is the most recent.

-Temecula CA Real Estate

Original post – Making Home Affordable – The banks get another report card

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

March 28, 2010

Wachovia / Wells Fargo reaching out to Winchester Homeowners

Wachovia

Wachovia has been very aggressive in recent months, training some Winchester Realtors® to work within the system they’ve set up to Fast-Track qualifying Short Sales. They’ve also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Winchester Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

  • Quick approval of hardship (3-4 days)
  • Quick approval of sale price and purchase offer (5-7 days)
  • Offer approval good for 30 days – Extensions are easy
  • YOU DO NOT HAVE TO BE DELINQUENT
  • DEFICIENCY IS RELEASED
  • May be eligible to receive “Cash for Keys” payout
  • Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

  • Golden West Financial
  • World Savings
  • Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

Wachovia / Wells Fargo reaching out to Murrieta Homeowners

WachoviaWachovia has been very aggressive in recent months, training some Murrieta Realtors® to work within the system they’ve set up to Fast-Track qualifying Short Sales. They’ve also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Murrieta Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

  • Quick approval of hardship (3-4 days)
  • Quick approval of sale price and purchase offer (5-7 days)
  • Offer approval good for 30 days – Extensions are easy
  • YOU DO NOT HAVE TO BE DELINQUENT
  • DEFICIENCY IS RELEASED
  • May be eligible to receive “Cash for Keys” payout
  • Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

  • Golden West Financial
  • World Savings
  • Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

Wachovia / Wells Fargo reaching out to Temecula Homeowners

WachoviaWachovia has been very aggressive in recent months, training some Temecula Realtors® to work within the system they’ve set up to Fast-Track qualifying Short Sales. They’ve also sent out over sixty-six thousand packages to borrowers who are struggling with their payments, notifying them of their Fast-Track program.

Owners of Temecula Real Estate who are having a tough time paying their mortgage (or even those who can forecast a hardship in the near future) are advised to seek the help of a Wachovia Fast-Track Trained Realtor® who can help them understand their options.

Benefits to the seller include:

  • Quick approval of hardship (3-4 days)
  • Quick approval of sale price and purchase offer (5-7 days)
  • Offer approval good for 30 days – Extensions are easy
  • YOU DO NOT HAVE TO BE DELIQUENT
  • DEFICIENCY IS RELEASED
  • May be eligible to receive “Cash for Keys” payout
  • Okay for investor to purchase and rent back (But the investor may not be a family member.)

Qualifying loans may have been originated by one of the following lenders:

  • Golden West Financial
  • World Savings
  • Wachovia

Contact Aim Real Estate Group to speak with a Wachovia Fast-Track Trained Realtor® and see if this might be the right option for you!

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

March 27, 2010

New Foreclosure Prevention measures are in the works

Temecula Realtors®Recent reports indicate that President Obama will announce more measures to prevent foreclosures throughout the U.S.

The new plan encourages the Federal Housing Administration to insure lenders against part of the losses they’ll sustain after reducing the principal balances on borrower’s notes.

Lenders will be asked to bring the note balance down below the homes current value. When there is a 1st and a 2nd the guidelines will permit no more than a 115% LTV after the note balances are reduced.

Also in the plan is a provision for the Treasury to pay a portion of an unemployed homeowner’s loans for up to three months while they look for a new job.

We’ll keep an eye out for this one and let you know when/if it gets implemented.

Temecula Realtors®

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

Winchester Real Estate buyers may get up to $10,000 in CA Tax Credit

Temecula Real Estate Tax CreditFirst time home buyers of Winchester Real Estate will be happy to learn of a new tax credit they may be able to claim in conjunction with the purchase of their new home.

If buyer’s were shopping last year they may remember that there was a California tax credit in 2009 as well. One of the major differences between this new program and the one from 2009 is that this program is for the purchase of ANY home and is NOT LIMITED to the purchase of new construction. Even though it was limited to new construction, the program in 2009 was so successful that they ran out of funds 8 months before the program was scheduled to end.

AB 183 (signed by Governor Schwarzenegger last week) allocates $200,000,000 to be split equally between buyers of existing homes and buyers of new or previously unoccupied homes.

Temecula Real Estate Tax Credit

This program applies to purchases between May 1, 2010 and July 31, 2011 (but you must be on contract by no later than December 31, 2010 to qualify).

The new First Time Home Buyer California Tax Credit will allow eligible buyers to claim either 5% of the home’s purchase price or $10,000 (whichever is less). The tax credit can be taken in 3 equal installments taken over 3 consecutive years and requires that the purchaser live in the home as their principal residence for 2 years. If the 2 year occupancy requirement is not met, any credit taken would have to be repaid to the state.

*** Other Restrictions apply ***

Please contact your Temecula Realtors®(serving all of the Temecula Valley) for more information.

—————————– 

The Federal Home Buyer Tax Credit program is set to expire April 30, 2010. (As long as a binding contract is in place, the closing can take place on or before June 30, 2010 and still qualify.)

Winchester Real Estate Pros

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

Murrieta Real Estate buyers may get up to $10,000 in CA Tax Credit

Filed under: Information for Buyers,Murrieta Real Estate — David Northup @ 10:45 pm
Tags: , ,

Temecula Real Estate Tax CreditFirst time home buyers of Murrieta Real Estate will be happy to learn of a new tax credit they may be able to claim in conjunction with the purchase of their new home.

If buyer’s were shopping last year they may remember that there was a California tax credit in 2009 as well. One of the major differences between this new program and the one from 2009 is that this program is for the purchase of ANY home and is NOT LIMITED to the purchase of new construction. Even though it was limited to new construction, the program in 2009 was so successful that they ran out of funds 8 months before the program was scheduled to end.

AB 183 (signed by Governor Schwarzenegger last week) allocates $200,000,000 to be split equally between buyers of existing homes and buyers of new or previously unoccupied homes.

Temecula Real Estate Tax Credit

This program applies to purchases between May 1, 2010 and July 31, 2011 (but you must be on contract by no later than December 31, 2010 to qualify).

The new First Time Home Buyer California Tax Credit will allow eligible buyers to claim either 5% of the home’s purchase price or $10,000 (whichever is less). The tax credit can be taken in 3 equal installments taken over 3 consecutive years and requires that the purchaser live in the home as their principal residence for 2 years. If the 2 year occupancy requirement is not met, any credit taken would have to be repaid to the state.

*** Other Restrictions apply ***

Please contact your Temecula Realtors®(serving all of the Temecula Valley) for more information.

—————————– 

The Federal Home Buyer Tax Credit program is set to expire April 30, 2010. (As long as a binding contract is in place, the closing can take place on or before June 30, 2010 and still qualify.)

Murrieta Real Estate Pros

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

Temecula Real Estate buyers may get up to $10,000 in CA Tax Credit

Filed under: Information for Buyers,Temecula Real Estate — David Northup @ 10:26 pm
Tags: , ,

Temecula Real Estate Tax CreditFirst time home buyers of Temecula Real Estate will be happy to learn of a new tax credit they may be able to claim in conjunction with the purchase of their new home.

If buyer’s were shopping last year they may remember that there was a California tax credit in 2009 as well. One of the major differences between this new program and the one from 2009 is that this program is for the purchase of ANY home and is NOT LIMITED to the purchase of new construction. Even though it was limited to new construction, the program in 2009 was so successful that they ran out of funds 8 months before the program was scheduled to end.

AB 183 (signed by Governor Schwarzenegger last week) allocates $200,000,000 to be split equally between buyers of existing homes and buyers of new or previously unoccupied homes.

Temecula Real Estate Tax Credit

This program applies to purchases between May 1, 2010 and July 31, 2011 (but you must be on contract by no later than December 31, 2010 to qualify).

The new First Time Home Buyer California Tax Credit will allow eligible buyers to claim either 5% of the home’s purchase price or $10,000 (whichever is less). The tax credit can be taken in 3 equal installments taken over 3 consecutive years and requires that the purchaser live in the home as their principal residence for 2 years. If the 2 year occupancy requirement is not met, any credit taken would have to be repaid to the state.

*** Other Restrictions apply ***

Please contact your Temecula Realtors®(serving all of the Temecula Valley) for more information.

—————————– 

The Federal Home Buyer Tax Credit program is set to expire April 30, 2010. (As long as a binding contract is in place, the closing can take place on or before June 30, 2010 and still qualify.)

Temecula Real Estate Pros

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

March 24, 2010

Alternative purchase options for Temecula Real Estate

Alternative Purchase Options

Do you want to purchase Temecula Real Estate?

Have you been turned down for a Home Loan?

Was it for one of the following reasons?:

  • Low Fico
  • Debt to income ratio too high
  • Not enough money for big down payment and closing costs
  • Investor with TOO MANY LOANS (Many may have heard of the rescission last year by Fannie and Freddie of the “no more than 4 loans” rule. The number went up to 10. But, trying to find a lender that will approve you with more than 4, is a completely different story. AND WHAT IF YOU WANT MORE THAN 10??
  • Recent Bankruptcy – yesterday?
  • Recent Divorce – in the middle of a divorce?
  • In the middle of a lawsuit

By teaming up with the right Temecula Realtor (who MUST be a Deal Engineer) you might still be able to purchase at today’s prices and enjoy some of the following benefits:

  • Quick transaction – Quick occupancy
  • APPRECIATION
  • No waiting on the Banks for a DENIAL of your loan application and no hassle of trying to get your earnest money deposit back after paying for a home inspection and appraisal up front.
  • No limit to the number of properties you can purchase (if you have the means, we’ll help you buy 100!)
  • Buy 1 day out of Bankruptcy
  • Buy in the middle of a lawsuit
  • Proven techniques used by Donald Trump, Louis Brown, James Smith, Ron LeGrand, Bruce Norris and thousands of other Real Estate buyers & sellers – but so mainstream that the California Association of Realtors® has all the contracts and disclosures pre-printed, vetted by their legal departments and ready for the right Deal Engineer to put to them to use for YOU!

 To find out more about your options, contact Aim Real Estate Group for a free consultation. Straight answers – no obligations.

See the Alternative Purchase Options page at AimREG.com

Temecula Homes for Sale

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

March 23, 2010

Veteran’s Center Opens in Temecula, CA

Filed under: Temecula Valley — David Northup @ 6:58 pm
Tags:

New Temecula Valley Veteran’s Center opened in Temecula on Saturday March 13! The center’s purpose is to help combat veterans and their families.

 Full Story in the Press Enterprise
View Temecula Veteran’s Center in a larger map

Our sincere thanks to the men and women that put themselves in harm’s way to protect the freedoms we all enjoy. -THANK YOU!

Temecula Realtors®

***********************************
David NorthupDavid Northup – Broker, Realtor®, Owner
Aim Real Estate Group Inc.,  
Temecula Real Estate
“Providing Direction For Buyers and Sellers”
Delivering “Raving Fan” Customer Service in the process
**Buyers – Contact David for a list of available homes!
**Sellers – Let me provide you with a comparable market analysis that will give you an idea of your home’s current value. Even if your home’s value is less than the amount you owe, we can still typically make arrangements to sell your home at little or no cost to you.

Call me at (951) 326-0196 or choose one of these other ways to connect with me . . .

Follow me on Active Rain Follow me on Twitter Become a Fan on Facebook Find me on Linked In Check out the Temecula Murrieta Winchester French Valley California Blog Follow my WordPress Blog Check out my You Tube Channel Let me Google a Great Realtor for you! Email David Northup 

*** All information/opinion offered is deemed reliable but not guaranteed. CA DRE License # 01802944 ***

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