Posts

WHO QUALIFIES FOR FRESH START™

/in /by

For information about San Diego homes in La Jolla and Mission Beach, luxury Los Angeles real estate, Orange County CA homes and California waterfront properties, call Bob Cumming of Keystone Group Properties at 310-496-8122. Keystone Group Properties services buyers and sellers of Southern California coastal luxury homes from Malibu and Santa Monica to Newport Beach real estate, and distinctive homes in Beverly Hills.

WHO QUALIFIES FOR FRESH START™

Keep in mind that in order to qualify for FRESH START™ there are some very important guidelines, which must be followed.  Below is a brief list of the primary underwriting guidelines.

  •  Homeowner must have verifiable income; all income will be verified to guidelines.  Temporary income such as Unemployment, Short Term Disability, etc. will not be allowed.
  • The homeowner’s income must have a Front End Debt Ratio of no greater than 40%.   This is the homeowner’s gross household income versus the new rental payment.
  • Primary Residences only, no rental or income producing properties allowed.  1-­‐4 unit properties are permitted; however the owner must reside in at least one of the units.
  • Property must be in Marketable Condition.  Marketable condition is defined, as there are no deferred maintenance issues such as leaking roofs, missing siding, etc. There are also no functional obsolesce of the subject property such a missing or non-working A/C Units, missing water heaters, sinks, tubs, toilets, countertops, etc…
  • The client-­‐homeowners property must be valued at least 20% less than what is owed on the 1st mortgage. In example someone who has a home valued at $100,000.00 must have a mortgage owing on the1stmortgage of at least $120,000.00.
  • The home must be 2 or more payments past due. Under no circumstance should anyone encourage a homeowner to skip or miss payments to their mortgage(s). If a homeowner is capable of making their mortgage payment(s) they should do so.
  • FRESH START™ does not provide services for stopping or delaying Foreclosures or Trustee sales;should the client be in such a position the client-­‐homeowners should seek the services of someone skilled and licensed in these areas.
  • Bankruptcies:Homeowner may not be in active bankruptcy of any type at application or during the lease period.

Information by FRESH START™ Housing Program – 4029 Westerly Place, Suite 201, Newport Beach, CA 92660

Newport Beach Real Estate for sale

Introducing the FRESH START Housing Program for California Real Estate

/in /by

Keystone Group Properties services discriminating buyers and sellers of Southern CA luxury homes—properties from Newport Beach real estate and Marina del Rey homes to real estate in Pacific Palisades, Venice, Malibu, Santa Monica, and Beverly Hills real estate.
For the latest information about Fresh Start Short Sale options for coastal Los Angeles real estate, Orange County homes for sale and beach real estate in San Diego, call Bob Cumming, Keystone Group Properties, at 310-496-8122.

Introducing the FRESH START Housing Program for California Real Estate

Struggling with your current mortgage payments? You may qualify for the FRESH START Housing program.

Using the US Treasury’s HAFA Short Sale your mortgage company may be willing to forgive a significant portion of your mortgage debt, then allow you to rent back your home while re-establishing ability to repurchase your home back at today’s market value.

So if you are behind on your mortgage, I’d like to share more with you about the FRESH START Housing Program.

  1. FRESH START homeowners receive the mortgage debt forgiveness they need.
  2. Assist homeowners so they can stay in their homes.
  3. Rescue homeowners from public foreclosure.

I am your local FRESH START Certified agent, please be aware that not all real estate agents are certified to offer the FRESH START housing program.  Currently, my team is FRESH STARTing hundreds of homeowners receive the debt forgiveness they need to stop a potential public foreclosure!

Now if you’re like me, you’re skeptical when someone claims to offer something that sounds too good to be true. These days, most people claiming to FRESH START cannot offer a real solution. Well I’m pleased to inform you that this is not the case with the FRESH START Housing Program.

We are currently able to FRESH START homeowners in California, Arizona and Nevada.

Homeowners must meet minimum requirements. To learn more, call for a confidential consultation right away.  Please be aware that there is no charge for your enrollment into the FRESH START Housing Program.

We cannot emphasize enough that time is of the essence.The longer you wait the less likely I can FRESH START you!
–Taken from information by Fresh Start:  A Non-Profit Housing Initiative

Newport Beach real estate for sale

Recovery Roadblock? Mortgage Burdens Keep Job Seekers from Moving

/in /by

Call Bob Cumming of Keystone Group Properties at 310-496-8122 for the latest information about coastal Los Angeles real estate, Orange County homes for sale and beach real estate in San Diego.  Keystone Group Properties services discriminating buyers and sellers of Southern CA luxury homes.

Recovery Roadblock? Mortgage Burdens Keep Job Seekers from Moving

In what could end up becoming a vicious cycle of economic hurt, struggling homeowners who aren’t relocating for new jobs may stymie employers’ long-range growth.

So says a report from outplacement consultancy Challenger, Gray & Christmas Inc., which finds that about 7.5% of job hunters who found new positions ended up moving to a new home for work in the latter half of 2011.

Since the end of 2009, the quarterly relocation rate has averaged around 7.9%. That’s half the pre-recession rate of 15.7% and lower than the 13.2% of candidates willing to uproot during the recession.

With masses of homeowners still bound to mortgages or trapped in underwater homes, those also applying for jobs are increasingly inclined to stay put rather than abandon their properties.

“Picking up stakes remains a last resort for the majority of job seekers, many of whom are unwilling to take a loss on the sale of a home for a position that may or may not last,” said John A. Challenger, chief executive of the consultancy, in a statement. “For now, many people are stuck.”

And with most employers declining to cover employees’ relocation costs, and even fewer chipping in to lessen the impact of selling an undervalued home, there’s even less incentive for job seekers to take a chance on a new locale.

The lack of mobility, Challenger claims, could be “one of the biggest obstacles to economic recovery.”

“Eventually, as the economy continues to improve, employers will exhaust the local talent pool,” he said. “If job seekers are still unable or unwilling to move at that point, it is likely to stall companies’ expansion plans and ultimately stall economic growth.”

Los Angeles Times, January 26, 2012

Bel Air CA homes for sale