When many think of the term “silent second” they conjure up a sneaky mortgage that could potentially be fraudulent.
But there is also the helpful silent second, often used by cities or counties in mortgage assistance programs .
Silent second mortgages have also been used as a workaround when home owners are behind on their mortgages. Rather than foreclose, the […]

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In all the discussions around mortgage bail-outs, is anyone talking about using a “silent second” as part of the process? .Don’t forgive the underwater mortgages, split them into a first and a second.
In Chico we have a mortgage subsidy program. With the program, a first time home buyer can get a 30K to 70K loan, recorded as […]

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I hate to bore everyone with facts and figures, but sometimes the numbers tell the story best.
Last week I received the number of actual homes sold by foreclosure in Butte County for October. Here is a recap of the year-to-date:
January            26
February          67
March              51
April                68
May                 55
June                 81
July                  90
August            110
September        97
October            63
I was pleased that the numbers seem […]

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Here is some useful information from the California Association of Realtors to find the help you need:
C.A.R. has created several new resources for homeowners seeking information on existing mortgage workout programs. To provide you with one easy-to-use document, we’ve developed a chart outlining programs offered by the larger lenders and government entities, including a snapshot on eligibility […]

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The Emergency Economic Stabilization Act of 2008 was signed by President Bush into law on Friday. The National Association of Realtors has posted this information to help all of us sort through the new legislation.
This summary uses some general subject headings to illustrate the many pro-taxpayer and pro-borrower provisions in the law, as well as […]

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For years we have been spoiled by the first-class service from our local title and escrow companies. Bidwell Title, Fidelity Title and Mid Valley Title have all provided us with thorough investigations on the status of our properties’ ownership records. The local title officers have never been more than a phone call away to answer […]

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If you are worried about your loan or are facing foreclosure, this free forum will help. 
Join us tomorrow night, Tuesday September 9th.  The forum will be held in the Chico City Council Chambers from 6 to 8 p.m. (421 Main St.) All are welcome to attend.
Panelists will include:
Greg Wood, Foreclosure Officer
James Coles, City of Chico Housing Manager
Doug […]

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Wednesday evening at 6:30 PM, I get the call I have been waiting for. After the sudden closing of Financial Title  last week, my client’s file has found its way to southern California. It’s on Pat’s desk at First American Title.
My first question: “How about the deposit money?”  The answer: “Well, we are still working on […]

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My client called me this afternoon. “Should I wire the money to Financial Title for my escrow?” I tell him I want to call first, to make sure they received the FedEx packet that went out to them yesterday. I have no idea that Financial Title won’t be answering my call, because they no longer […]

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This morning President Bush signed the “Housing and Economic Recovery Act of 2008.” For the past several years, C.A.R. and the NATIONAL ASSOCIATION OF REALTORS® have aggressively lobbied for Congress to pass numerous provisions found in this historic bill. 
Here are some highlights, courtesy of the California Association of Realtors:
The legislation will assist an estimated 400,000 […]

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