California: Senate Bill 458 Extends Deficiency Language to Second Mortgage; Jennifer Klein discusses the new Senate Bill 458 and how it relates to your short sale. *Please consult with your tax person and real estate attorney for your specific inquiries regarding tax or legal related questions or needs*
Archive for the ‘Sacramento Mortgage News’ Category
California: Senate Bill 458 Extends Deficiency Language to Second Mortgage
July 23rd, 2011 
Jen Klein 
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Roseville Realtor on Short Sale Liens
November 30th, 2010 Jen Klein Video Blog (vlog) by REALTOR® Jennifer Klein: If you are buying or selling a short sale. Make sure you are aware of every thing that may come up, whatever it is, it will need to be paid. All liens will need to be satisfied.
Save the Dream – Mortgage Help in Sacramento
October 10th, 2010 Jen Klein Want to meet your mortgage holder face to face? Here’s your chance…
“Notice of Intent to Accelerate”
September 7th, 2010 Jen Klein Bank of America has started issuing a , “Notice of Intent to Accelerate”, typically to loans that were previously Countrywide Home loans. Countrywide home loans were purchased by Bank of America and that is who you now make your mortgage payments to. If you’ve received one of these notices I’m fairly certain you are not current on your mortgage and for most, severely behind …
Fannie Mae and Freddie Mac
September 6th, 2010 Jen Klein Did you know that who your mortgage servicer is may not be as important as WHO the mortgage holder is? For example your loan may be serviced by Bank of America or Wells Fargo, but the owner of the mortgage maybe Fannie Mae or Freddie Mac.
Broker Price Opinion (BPO) and how it can effect your short sale.
August 2nd, 2010 Jen Klein An essential element to completing a short sale is a BPO, which stands for Broker Price Opinion. Essentially this is the bank’s way of obtaining a value on the subject property. Not to be confused with an appraisal …
Life after a short sale
July 12th, 2010 Jen Klein Often I’m asked how soon after I short sale can I purchase a home?
Wells Fargo/Wachovia Streamline Sacramento Short Sales
April 28th, 2010 Jen Klein After today’s training with Wells Fargo/Wachovia, I have a new respect for Wells Fargo Bank. I also know now that the banks can and should be doing more to facilitate short sales. Granted, their system has some loopholes and caveats, but I do see an effective and efficient system, which is more than any bank can say at this point. Here are the highlights:
California Mortgage Forgiveness Act, sunshine amid the rain.
April 14th, 2010 Jen Klein Amid all this rain, there is sunshine! Yesterday the California Mortgage Forgiveness Act was signed, which is great news for homeowners. Those who were previously hesitant to short sale their homes due to the potential state tax to be incurred, can now exhale.
“Bank of America to Cut More Loan Balances”
March 25th, 2010 Jen Klein Bank of America announced today that they are going to be cutting principal balances for homeowners. The homeowner must be 60 days behind and 120%+ underwater.
