Bay Area Property Alert   The best ways to stop foreclosure   News & Event
05/01/2008
Foreclosure home is great opportunity to buy home at low price. Here are pros & cons of buying foreclosures homes.
  • Top tips on how to find foreclosures homes
  • Why buy homes prior to the filing of a Notice of Default ?
 
 
Living In Apartment
 
Living in apartment is freedom from mortgage payment, property tax payment etc. The living in apartment gives you freedom to plan your dynamic living, helps if your job is transferable or temporarily living in city.
 
     
 
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Frustrated with your rental office staff and their services. This is right place to take anger out. We provide outlet for angry renters to express views and let us know your apartment issues.
 
     
Economic Stimulus Package
Does it help?
Recently congress passed an unprecedented “economic stimulus package” to remove the fear of economy slipping into the recession. The economic stimulus package is supposed to bring confidence in consumers and keep economy away from recession.

Many believe the move from government has come late and may not help the cause. By the time checks will reach to common person, economy might have touched the outer boundaries of recession.

Then the question comes this $300 or $600 check, how it is going to keep economy away from slipping into recession. People with bad habits are going to blow money on cigarettes, drugs, lotteries, the end result more money to state and federal government.

What would have been better idea is to grant low tax bracket to poor and middle class, for couple of years, counties providing relief in property taxes, lenders providing extension for low interest rates and good subsidy to industries for keeping jobs in US.

These small checks hardly make any dent into economy, these are good for lifting consumer confidence and good for vote policy. This sure saves government from tough questions from press and public.


The best ways to stop foreclosure
This is the worst nightmare of every homeowner to think about house going through foreclosure. Every home owner puts 100 percent in saving his or her home. The reasons for a house coming under foreclosure can be from “job loss”, “owned by widow”, “partner dispute”, “high debt”, “unable to pay high interest rate mortgage” etc. Read More Tips
   
This is the worst nightmare of every homeowner to think about house going through foreclosure. Every home owner puts 100 percent in saving his or her home. The reasons for a house coming under foreclosure can be from “job loss”, “owned by widow”, “partner dispute”, “high debt”, “unable to pay high interest rate mortgage” etc.

How to avoid Foreclosure

 The worst thing a home buyer can do is not to contact lender or not reply official documents sent by lender. If you open communication channel with your lender, it will help to open alternate options and also give you time to pool your resources to come up with alternate solutions.

The first thing a home owner should avoide from happening is filing of a “Notice of Default”. What it proves you are no longer able to pay mortgage payments to lender.

Even if it is embarrassing to contact lender to let them know you are behind in paying borrowed money, but this move of yours might save house from getting listed in foreclosure. By delaying and ignoring lenders calls or letters will make situation more worse.
  • Approach lender and ask for time to pay late payments. Most of the lenders might agree to wait for payments then selling home through foreclosure and loosing money on it. Otherwise lenders will spend more money on legal action and risk of loosing money on foreclosure home.
  • Check with lender if missed payments can be spread out and you will be current on new payments.
  • Your lender may ask to sign debt obligation.
  • Your lender may ask from check deposit to direct deposit.
  • In some cases lender may change interest rate, make it as adjustable rate, so that you are able to pay minimum amount to retain home.
  • If your payments are gone up because of change in interest rate, lender may freeze interest rate for a specified period.
  • Lender may refinance your loan to include missed payments.

House in foreclosure processing - Options left

By now you are left with very few options to take care of your house. The best way is to contact a real-estate agent and check with him about foreclosure proceedings. Ask real-estate agent about housing market and check with him what percentage he will charge to be broker of your home.

Another option is short sale, this typically happens when home value has gone below the borrowed amount. Some lenders may agree for this arrangement but need lot of persuasion on your part to look for right contact person with your lending company. Once you are in touch with right person, more information will be given to you for short sale.

Need Housing Counselors


If you need housing counselors who can guide you on foreclosure process or help in avoiding foreclosure, check with www.hud.gov government website. They have HUD approved counselors ready to provide you advice on foreclosures, default, credit issues or reverse mortgages etc. HUD.GOV has offices nationwide, check on website which office is near your area. Learn more at HUD Housing Counselors

Apartments in California East Bay Cities (Bay Area)

Check out renting available in East bay cities from condos to 1r,2r and single family homes. Get register and get first call for your favorite apartment. East bay cities are closer to silicon valley the home of all tech companies. You may qualify to get $100 for a signed lease or in some cases apartment rental offices are giving first month rent free. For more information check east bay city apartments East Bay City Apartments(Bay Area)

Apartments in California San Jose Cities (Bay Area)

The San Jose region is hub of technology companies, this area is very vibrant and multicultural, many cities in this region are on world map because of headquarters of top tech companies. This area is also high income group in nation and also some of the cities have best school in nation. Check more on city information in San Jose region. Apartments in San Jose

One time hot market real-estate market of bay area is going through real-estate downturn. Couple of years back it was common to see multiple bidding for single home and homes being sold over asking price. Lot has changed in last two years, except few pockets in Bay Area rest of the bay area has home price going down by 20-40 percent. Get more information... Information About Bay Area

One time hot pockets of Bay Area such as San Ramon, Antioch, Brentwood are having high rate of foreclosure. In this downtrend my heart bleeds for people whose house is going through foreclosure. It is hard to imagine people’s hard earned money going through the drain.

Having said that there is market for first time buyers, now is the chance from them to take advantage from low housing market.

Notices of Default for houses and condos
  • County - 2007 - 2008 - Yr
  • Q1 Q1 Yr%
  • San Francisco - 216 - 420 - 94.4%
  • Alameda - 1,578 - 3,194 - 102.4%
  • Contra Costa - 1,969 - 4,718 - 139.6%
  • Santa Clara - 1,058 - 3,074 - 190.5%
  • San Mateo - 382 - 911 - 138.5%
  • Marin - 118 - 314 - 166.1%
  • Solano - 914 - 2,091 - 128.8%
  • Sonoma - 407 - 1,392 - 242.0%
  • Napa - 88 - 284 - 222.7%
  • Bay Area - 6,730 - 16,398- 143.7%
Note: Source: DataQuick Information Systems read more
Quick Link
Internet Home Research

With the internet access at your finger tips, the knowledge, tools needed for online home buying has become easy. Gone those days when you will move in to neighborhood and then start getting feedback about your neighborhood. Today, you can research on house, neighborhood, city, schools, jobs, crime in area, parks in area, hospitals in area etc. Today's buyer is more informed and more demanding about hose information.

Important thing for home buying is to complete your pre-buying things to do.

  • Select few neighborhoods, check last 10 years of property trend in this area.
  • If you are buying town home or planed community home, check which one has low HOA (Home owner association charge)
  • Check school area. Lot people move blindly into a good school area and later realize that there school does not fall into good school zone. Check with school if your house fall in their school zone.
  • Get free credit report and check how good are your chance of getting home loan.
  • Explore neighborhood and get reviews from community associations, go through local issues, check forpast history
  • Check for local parks, local hospitals, libraries, airports, and near by jobs
  • check real estate tax assessment from county website
  • Check for sex offenders from national sex offenders registry
  • Get Pre-Approval from Lender
  • Get in touch with Real-estate agent and provide him your requirements.
Online Tools to Research homes on Internet