Comments on: What Bob McCormick at KCAL 9 News says about Short Selling your Home http://www.jdanielrealty.com/220/bob-mccormick-short-selling-home/ Search Homes for sale in the Orange County MLS Thu, 28 Jul 2011 18:46:38 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Jakehttp://www.jdanielrealty.com/220/bob-mccormick-short-selling-home/#comment-51 Jake Fri, 10 Sep 2010 04:13:11 +0000 http://www.jdanielrealty.com/orange-county-real-estate-news/?p=220#comment-51 Well....Here is what I know about CALHFA....CALHFA is the absolute WORSE program for a few reasons: A) They make their program out to look great. It can be great if you are NEVER going to move out of your home for the next 30 years. It is a first time homebuyers program, and it is funded by the State of CA taxpayers. B) If you have a hardship, such as a job loss, or job move, you have no choice but to voluntarily foreclose your property or sell it.The officials of CALHFA dont give a shit about you or any situation you might be in. I had my job move me 280 miles away from my home, and I had NEVER BEEN late or skipped a payment. Once CALHFA found out that I was not living at my condo (STILL PAYING IT) I received a letter telling me that I had to re-occupy or else I would have to pay it in full/or voluntarily foreclose it. Who loses?? Really it is the taxpayers. PS, you also CANNOT rent out your place in this type of situation either. Someone needs to sue the hell out of the state and this program as it does NOT make any sense. The taxpayers are actually the losers in this situation because a foreclosed property does not help anyone. Wait....There is a home modification right?? WRONG!! There is no one to help you, or me!! WALK AWAY from your property now and let CALHFA stick the property up their ass. Im not angry...NO.. I am beyind pissed off. My credit is now ruined and CALHFA doesnt care. NEVER NEVER USE A CALHFA LOAN... NEVER!!!!!!!! Well….Here is what I know about CALHFA….CALHFA is the absolute WORSE program for a few reasons: A) They make their program out to look great. It can be great if you are NEVER going to move out of your home for the next 30 years. It is a first time homebuyers program, and it is funded by the State of CA taxpayers.
B) If you have a hardship, such as a job loss, or job move, you have no choice but to voluntarily foreclose your property or sell it.

The officials of CALHFA dont give a shit about you or any situation you might be in. I had my job move me 280 miles away from my home, and I had NEVER BEEN late or skipped a payment. Once CALHFA found out that I was not living at my condo (STILL PAYING IT) I received a letter telling me that I had to re-occupy or else I would have to pay it in full/or voluntarily foreclose it. Who loses?? Really it is the taxpayers. PS, you also CANNOT rent out your place in this type of situation either. Someone needs to sue the hell out of the state and this program as it does NOT make any sense. The taxpayers are actually the losers in this situation because a foreclosed property does not help anyone. Wait….There is a home modification right?? WRONG!! There is no one to help you, or me!! WALK AWAY from your property now and let CALHFA stick the property up their ass. Im not angry…NO.. I am beyind pissed off. My credit is now ruined and CALHFA doesnt care. NEVER NEVER USE A CALHFA LOAN… NEVER!!!!!!!!

]]> By: Donte Shapleighhttp://www.jdanielrealty.com/220/bob-mccormick-short-selling-home/#comment-50 Donte Shapleigh Tue, 23 Mar 2010 08:33:29 +0000 http://www.jdanielrealty.com/orange-county-real-estate-news/?p=220#comment-50 I just tried to grab the feed for the RSS for this blog but it is not properly displaying in Google Chrome. Any ideas? I just tried to grab the feed for the RSS for this blog but it is not properly displaying in Google Chrome. Any ideas?

]]> By: Catherne Davishttp://www.jdanielrealty.com/220/bob-mccormick-short-selling-home/#comment-49 Catherne Davis Wed, 12 Aug 2009 01:23:44 +0000 http://www.jdanielrealty.com/orange-county-real-estate-news/?p=220#comment-49 I am a home owner. I have a CALHfa loan FHA. I can't get this loan modified by my mortgage company because they said that they can't lower the interest in this type of loan. I don't understand why there would be such a loan that you can't do anything to it when you are having financial hardship. I am behind in my mortgage 3 months. The only thing I was told that they could do if I qualify is to put the 3 months late on the end of my loan. But, this doesn't help me to be able to lower my mortgage so I can pay my mortgage and not loose my home. I spoke to another lender and i was told that this kind of loan is tricky to modify but it can be done if I ask to have it done as a "subordinate loan". I don't know if this is really true or not. I haven't been successful yet to get some help. I know that there has to be away some how. I just don't know who to talk to that really know about these types of loans. I spoke with several people at the CALHfa agency but they can't answer my questions. I keep getting "I think" or "I'm not sure" answers. If you can help, please let know what I should do or talk to. Thank you for your immediate attention to this matter. Catherine I am a home owner. I have a CALHfa loan FHA. I can’t get this loan modified by my mortgage company because they said that they can’t lower the interest in this type of loan. I don’t understand why there would be such a loan that you can’t do anything to it when you are having financial hardship. I am behind in my mortgage 3 months. The only thing I was told that they could do if I qualify is to put the 3 months late on the end of my loan. But, this doesn’t help me to be able to lower my mortgage so I can pay my mortgage and not loose my home. I spoke to another lender and i was told that this kind of loan is tricky to modify but it can be done if I ask to have it done as a “subordinate loan”. I don’t know if this is really true or not. I haven’t been successful yet to get some help. I know that there has to be away some how. I just don’t know who to talk to that really know about these types of loans. I spoke with several people at the CALHfa agency but they can’t answer my questions. I keep getting “I think” or “I’m not sure” answers. If you can help, please let know what I should do or talk to. Thank you for your immediate attention to this matter.
Catherine

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