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Own Now, Free Pre Qualification These are great People to with which to work.
(If your realtor suggests a Loan person please work with them! I could recommend these because I Have worked with them!)
 

Interest Rates are lower than last year. In order to take advantage of the rates and programs offered by lenders, I have put three people that I trust and know. I know them personally and I trust their organizations.

 

 Here are three Companies to pick from. 

 

 Each of them has a team of experts to help you.

 

Free  Pre Qualification is a phone call away.
 

CRAIG PIERSON,Loan Officer.
  American Home Mortgage is nationwide. But, if you talk with Craig you will feel like you have a Friend in the business.
13024 Hesperia Road Suite #103
Victorville Ca 92395
Ofc 760-843-3899 Ext. 139
Toll Free866.843.3899 
Mission: To provide compehensive mortgage solutions to my custoemrs with a high degree of trust, knowledge, respect and convenience.
 
 
Roberto Escalera, World Trust Mortgage
You can check out Roberto and his company on www.worldtrustmortgage.com or call 760.245.2424 x108  Hablo Espanol for our Spanish only clients
 
 Mission:WORLD TRUST MORTGAGE is a group of caring and compassionate professionals whose primary goal in business is to serve the needs of our clients, offering the financial vehicle to secure their economic goals and dreams for their families now and in the future.

 
 
Dianna Bignell, Royal Alliance Mortgage Corporation
Check out what she and her company can do  www.royalalliancemortgage.com 
909 944 4805 ,714 866 7900(cell) She is only a phone call away.
 
Mission:Royal Alliance Mortgage Corporation is committed to helping you find the right mortgage product for your needs. We understand that every borrower is different, and we offer a variety of products to meet your individual requirements. We make the process of securing a mortgage simple and straightforward by offering you the latest in financial tools that enable you to make sound financial choices.
                            
 
 


 Lenders and Foreclosures
There is so much discussion concerning Short Sales, Deed in Lieu of Foreclosure and Foreclosures. Here is what was presented to me recently at a FHA Class. I mention that it was a FHA Class and not a Foreclosure class because I buy into we really know what we walk around with in our head or we really know what is written in front of us.

What does a foreclosure mean to a client? How does it affect his credit? How does it affect his financial future?

Answers:

In a foreclosure, at the point of foreclosure all liens, debts are cut off. However, the lender may/will 1099 the client because of how the law reads the perceived profit in the deficiency balance. The Speaker recommended that this was the best way to go.

Second, a Deed in Lieu of Foreclosure is a foreclosure and will read as such on a persons credit. Voluntarily, the borrower/grant-or of the property gives the property back to the lender/grantee. It makes release of the finance burden quicker. It may reduce or eliminate any public exposure. A deed in lieu of foreclosure is only a step better than a foreclosure. You lose the home. Your credit is harmed but this is accepted as payment and the borrower will not be issued a 1099. You may not have any monies to face and the process is much quicker. However, your credit will show foreclosure.

Finally, A short sale, the IRS often sees this process as Debt Relief and will count the forgiven amount as income. You will owe money on your taxes of the difference. If you are at the 30 marginal tax rate and the forgiven amount is $100,000. That means you will have a tax issue of $30,000. Ouch. If it is sold through a short sale the lender may say, "You owe us the difference" That Can follow you around or be sold to collection agency until paid. Wow.

So our speaker basically stated, " Don't do a short sale, simply do the foreclosure." I felt that ran against the current popular conventional wisdom of the market. But now, I am wondering. What is truly best for the client and more selfishly how do I make a living in a declining market that will in all likelihood decline even more.

Where is the money is the loss.

Thanks For reading. This is the news from Victorville, Hesperia, Apple valley

Val Rensink Exit Desert Ocean Realty



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