Lodi / Stockton CA Homes For Sale & Real Estate Information

If you’re faced with the decision of which direction to go, you might want to watch the video down below because you may not even have a choice.  The bank may be makng the choice for you without fair warning.

This video shares some insight as to why homeowners are having such a hard time trying to get their lenders to do a loan modification on their current mortgage.

Feel free to post any comments that you may have on this subject.

CLICK HERE to view the video

According to Bloomberg’s Kathleen M. Howley…

Increasingly aggressive mortgage lenders are seeking to collect deficiencies from former home owners who walked away from their properties or sold them in short sales.

Many states, including Florida, give mortgage holders as long as five years to seek a deficiency judgment. If granted, the bank gets up to 20 years to collect and the option to renew for another 20 years if the debt isn’t paid.

About one-third of U.S. states, including California and Arizona, prohibit collection efforts after foreclosure, but home owners usually waive that protection in a refinance.

Most states allow collection on unpaid home-equity loans.

Banks are most likely to try to collect from people who walk away from a property in which they are still making payments.

“The bank is going to pull your credit report, and if you’re current on your other bills they are going to come after you and potentially ruin you,” says Larry Tolchinsky, a Florida real estate attorney.

Today, more than ever, I still get asked…”Is now a good time to buy real estate, or should I wait a little longer?”

There is always going to be that ever-so-popular 64 thousand dollar question.  Sometimes there’s no easy or simple answer.  But right now, I think there is one.  And that answer is “YES”.  It most definitely IS a good time to buy real estate, especially here in the Lodi, CA, Stockton, CA, and pretty all the surrounding areas in the San Joaquin and Stanislaus County areas.

Home prices are lower than they’ve been in years.  Incentives like the $8,000 tax credit are plentiful.  But here’s the real kicker, interest rates are said to be on the rise.  Oh, they’re still lower than ever right now, but from what I hear and read, that’s not for long.

All indicators point to rising interest rates in the coming months.  I don’t believe there’ll be a spike that makes your eyes pop out, but it’ll be enough that you’ll surely notice it in higher monthly mortgage payments if you wait to purchase.  At Realty World – Davis Homes & Properties we work with lots of investors and especially first-time home buyers to help them get the best deals on some really good homes.  Either way you slice it, right now it’s a buyer’s market and you could be in the driver’s seat.

I came across a short video on YouTube that talks a little about these topics and more.  I think you’ll find it informative.  CLICK HERE to view.

I’d love to hear what your thoughts are about what you see in the video.  Please take a moment and click on ‘Comments’ and let me know.

Thanks and make it a great day!

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• Interest Rates of 5% May Never Be Seen Again! Here’s Why.  stroupecondoblog.com)

There are many. Among the most appealing: you own it, which gives you, instead of a landlord, control of your living space, and the ability to do what you want with it.  Other benefits include potential tax savings and the build up of equity as your property likely appreciates in price over time once again.  Equity can be used to help put children through college, purchase a second home, or make home improvements.

The mortgage interest paid on a home loan is tax deductible, as is the local property tax. If you get a fixed-rate home mortgage loan, you also can invest more wisely knowing your monthly mortgage payment, unlike rent, will not change substantially.

With mortgage loan interest rates as low as they are now, and expected to go higher in 2010, it might be a better idea to invest in Lodi real estate and Stockton real estate now more than ever.  Having a low interest assumable mortgage loan may become very attractive in the future.

Make it a great day!