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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Last night my husband called me from the back of the house, “Debbie, get in here, I have to show you something!” I left my cozy position on the couch, and went to the master bathroom.
There he showed me his pride-the ant bait he placed earlier in the day was being attacked by a virtual army. […]

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According to stories in the Sacramento Bee and the Chico Enterprise Record, a man who was working in the Chico area has been indicted for mortgage fraud.
“Butte County District Attorney Mike Ramsey said Garrett Griffith Gililland III, 27, was working in the Chico area as an unlicensed mortgage broker when he allegedly produced fraudulent documents […]

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Each week the Realtors in the Chico area gather to share information about the houses we have just listed, and to invite the other agents to come out and view them. Hundreds of us meet.
 
We share cups of coffee, yogurt, rolls or some juice. The lenders and title companies join us. We ask about each […]

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Chico MLS Single Family Homes
Last Week 
This Week 
Up or Down

Week Ending

8/1/2008

8/8/2008

Active homes for sale

347

366

Up 19

Median price, active

$375,000

$374,500

Down $500

New listings

43

37

Down 6

Escrows opened

11

10

Down 1

Escrows closed

17

24

Up 7

Avg days on market

65

58

Down 7

SNVMLS Chico  1A to 1F
 
 
 

Search for Chico real estate through the MLS. Click here.
Source: Sierra North Valley MLS, Chico Urban Areas 1A to 1F

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Buying your first home? You will be amazed at the sheer volume of paperwork you will sign. There are currently 13 pages dedicated primarily to telling you, the buyer, to get inspections on the house. Obviously, the powers that be feel inspections are very important!
 
With 13-plus pages telling you about all the things you should […]

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Can you benefit from the housing assistance bill that was passed by the House on Wednesday? Here are some of the guidelines. 
 The law will help banks refinance troubled real estate loans with fixed rate loans backed by FHA. It is estimated that two million home owners nation wide will be helped by this legislation. Next stop, […]

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I took a drive up highway 32 this weekend, and was relieved to see green trees. Looking at the maps with the big red blobs showing areas the fires had burned, I expected to see large areas with spindly black tree remains along side the road.
To my surprise, the drive was still pretty. There were […]

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Ready to buy a house in Chico? Read this primer and get up to speed on the new ways of real estate.
 
It may be a buyer’s market, but the buyers are not always in control.
 
Remember my clients, the Smiths?  They were interested in finding a good deal, on a house priced under $250,000.
 
The […]

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