Yellow Pages |   News Updates |   Local Jobs |   Events Calendar |   Movie Times |
Rocklin and Roseville Today Local Events Calendar
    (Independent and Locally Owned)

New Loan for Short Sale Borrowers





For several years, I have been saying at some point we will see lenders offering special financing programs to buyers who went through a short sale. 

First there was the FHA "Back to Work" program but it was so restrictive we never found anyone who would qualify.  Now I have been told there is a loan available after two years for borrowers who had a short sale as a result of a divorce.  I am told these loans can be as much as 90 percent loan to value as long as the divorce decree is available.

There are many former home owners who did nothing wrong and were caught up in the housing market correction.  They were paying their bills but were forced into short sales because they needed to sell their home at a time when the value had plummeted to less than the balance of their mortgage.  Some these were caused by job transfers but a large number were divorce related.  It is good to see lenders and the secondary market beginning to realize this and starting to offer loans to get these people back into home ownership sooner.

I don't have the details of this program but if you or someone you know went through a short sale as a result of a divorce, please let them know they may be eligible for a mortgage sooner than they anticipated.  I would be happy to answer questions and help find the perfect home.

By the way, I just returned from Barrett, MN where I attended their annual "Settler's Reunion," which there summer celebration.  This was the first time I have ever spent any time in a small town, total population of less than 500 people.  I loved every minute, the people were friendly, open and having fun.  They have their problems but overall I left with the impression that "Small Town America" is doing well and recommend if you have the opportunity to spend some time in a small town this summer, do it.

If you have questions or comments, I would love to hear from you.  I can be reached at the MagnumOne Realty office in Roseville, 916-899-6571, or by email to juliej@jalone.com.

Print

Julie Jalone, wife and mother living in Rocklin, is an experienced professional Realtor ® serving
the Greater Sacramento area including Placer, El Dorado, Yolo and Yuba counties.

Julie may be reached online at www.jalone.com or by calling (916) 276-6883
Check out her daily web blog: Keep it Real in Sacramento



Placer County News Headlines

Police Officer Killed: Gunned Down in Arden Way LotDeputy Danny Oliver, 47 a Sacramento County Sheriff's Deputy was killed in the line of duty while investigating a suspicious occupied vehicle within a business parking

California Housing Market: 2015 ForecastRealtor, Julie Jalone of MagnumOne Realty in Roseville, writes about the recent housing forecast or 2015 released by the California Association or Realtors and where the market is currently.

3 Killed, Alcohol Suspected in Deadly Sacramento CrashOn October 23, 2014 at approximately 2:24 p.m., an unknown male driver was driving a 2008 Chevrolet Tahoe on Howe Ave north of Burney Way at an unknown speed.

Nissan Rogue Features Many Enviable ChangesIn effort to attract more male buyers, Nissan reportedly decided to alter the exterior look of the Rogue in its 2014 redesign. Not a bad move. Most men don't

New Nursing Village Ribbon Cutting in RocklinRocklin, CA- Sierra College welcomed their long-running Nursing Program back to the Rocklin campus with a recent Ribbon Cutting ceremony.

Placer County Woman Dies: West Nile Virus ConfirmedPlacer County health officials are able to confirm that an Ophir woman, who passed away earlier this month, did indeed have West Nile Virus (WNV).

3 Teens Arrested in Burglary and Vandalism of Country ClubA Placer County Sheriff's detective apprehended three juveniles Thursday in connection with recent burglaries and acts of vandalism at the Auburn Valley Country Club.

Roseville Author Releases New Book NationwideROSEVILLE, Calif. - The new book "Resonance," a stimulating new book by Roseville author Emily Elaine is now available nationwide.

Genderally Speaking LGBTQ Exhibition in RocklinRocklin, CA--The Ridley Gallery presents "Genderally Speaking", photography by Ron Williams in conjunction with Sierra College Pride Days (November 4-6).

Rocklin History Series Presents Julia Morgan's GoldThe Rocklin History Series continues on November 16, 2014 with a live presentation by Julia Morgan Historian Karen McNeill Ph.D. at 2 pm at the beautiful Old Saint Mary's Chapel

Free Identity Theft Prevention Class in AuburnThe Placer County Sheriff's Office is offering a free identity theft prevention class on Monday, October 27, from 6 to 8 p.m. at the Auburn Justice Center.

Loomis Students to Learn About Pediatric Iron Lung for World Polio DayIn recognition of World Polio Day, Rotary Club of Sunset Loomis will bring a pediatric iron lung to Loomis Grammar School and Loomis Basin Charter School


more news