Buying and Selling Your Davis, CA Home with Keller Williams agent Carmen Isais

Homeowners facing foreclosure in Yolo County, Solano County, Sacramento County and across California, may get a little relief – again. From the Associated Press:

California imposes 90-day foreclosure moratorium
The Associated Press

SACRAMENTO, Calif.—California is imposing a 90-day moratorium on housing foreclosures under a new law that took effect mid June.
The law is expected to make lenders try harder to keep borrowers in their homes. Loan companies must prove they tried to modify the delinquent loans before they can begin foreclosing.

But supporters acknowledge the California Foreclosure Prevention Act won’t stop thousands of foreclosures from eventually happening. There have been more than 365,000 foreclosures in California since early 2007, with many more already scheduled.
The bill passed in February is similar to the Obama administration’s Making Home Affordable Program that began in March.
Both encourages lenders to cut interest rates or rewrite loans to affordable levels.”

You’ll see that this new law and “attempt” to help ailing homeowners leaves a lot of holes, and many lenders may find themselves exempt from complying. Remember, seek the services of a non-profit homeowner advocacy group to get help, such as:

• www.naca.com
• www.dontborrowtrouble.com
• www.acornhousing.org
• www.makinghomeaffordable.gov

Another option to foreclosure, and something I will be write more about in days to come, is the short re-finance. As another option, for short sale help, contact Carmen Isais, Real Estate professional with Coldwell Banker at 530.601.1003. Carmen offers short sale consultations for homeowners in Davis, Vacaville, Dixon, Winters, Woodland and the larger Sacramento-Metro area. If you have a home with little or equity