Behind Closed Doors

March 18, 2012

How Will Shadow Inventory Affect Your Home Price?

A couple of weeks ago, federal government and Attorneys General in 50 states reached a settlement with major banks called the National Mortgage Settlement.  I’m sure you have read and seen from the newspapers and on tv about the current state of affairs in the real estate market and ...

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March 15, 2012

Real Estate Investors: Bulk Foreclosures for Sale

Homes for Sale - Real Estate - Bulk ForeclosuresThere has been much talk about the government selling bulk foreclosures which will be converted into rentals. What will this actually mean to the housing market? For the answer to that question, we go directly to the 2/28/2012 Senate testimony of the person making the decisions on this ...

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March 3, 2012

FHA Loans More Expensive?

Many Pasadena home buyers turn to HUD for their FHA financing to purchase their home with minimal down payment. Unfortunately, April 1, 2012, these loans will be significantly more expensive.

[caption id="" align="aligncenter" width="640" caption="Photo courtesy of Jeremy Brooks via flickr"]Home Loans[/caption]

The cost of borrowing is ...

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Feb. 28, 2012

Mortgage Debt Forgiveness - What IRS Wants You to Know

Did you short sell your Pasadena home last year?

If so, the lender wrote off some debt to make your home sale happen.  The question that comes up is "Do I have to pay taxes on the amount that the lender wrote off?"  It depends... Canceled debt is ...

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Feb. 10, 2012

Largest Mortgage Settlement Deal in History - Do You Qualify for Relief?

Today, Federal and State officials announced the largest mortgage relief settlement, $26 billion dollars, aimed to address the robo-signing scandal where banks seized foreclosed homes without appropriate paperwork.  The deal settles potential state charges about allegations of improper foreclosures.

What does it mean for you?

The settlement sets up ...

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Feb. 2, 2012

4 Tips on First-Time Homebuyer Credit Repayment

Pasadena first time homebuyer in 2008? Did you buy your Pasadena area home under the The Housing and Economic Recovery Act of 2008?  If so,  you most likely received up to $7,500 which needs to be repaid over 15 years. It is very different from the Obama ...

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Jan. 21, 2012

Looming FHA Changes are on the Horizon

Federal Housing Administration (FHA) has been instrumental in helping first time home buyers achieve their dream of home ownership.  Over the last several years, we've been seeing many changes in programs offered.  As we start 2012, we see that this year is no different - the changes are ...

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Dec. 15, 2011

Pasadena California: IRS Offers Tips for Year End Giving

IRS Newswire sent this notice earlier today.  I thought it would be helpful to many of my Pasadena friends as we are closing out the year.

WASHINGTON — Individuals and businesses making contributions to charity should keep in mind several important tax law provisions that have taken effect in ...

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Oct. 21, 2011

Bungalow Heaven Starter - Charming Cottage

A new home for sale in Pasadena caught my eye as I was touring the newly listed properties.  A charming cottage at an amazing price of only $419,000 and located in the sought after historic Bungalow Heaven.

READ MORE:  Historic Bungalow Heaven


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Sept. 9, 2011

Short Sales - Deficiency Protection Extended

You may have heard about Senate Bill 931 which stated that lenders who have agreed to a short sale would not have the ability to obtain a deficiency judgment against the seller after the short sale was completed. The law applied only to first mortgage loans secured by one to ...

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