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

Roseville, Rocklin Among Top Choices for Young FamiliesRoseville and Rocklin are ranked among the top 10 places in Northern California for young families according to a NerdWallet report

Kings, Sacramento Community Break Ground on Arena Marking the culmination of a decade-long effort to build a new arena in Sacramento, today the community officially celebrated the groundbreaking of the new downtown Entertainment and Sports Center (ESC).

Roseville Hit and Run Reward OfferedRoseville Crime Stoppers is offering a $500 reward for information leading to the arrest of a wrong-way driver who crashed into another car and then fled the scene

Free Alzheimer's Caregivers Workshop at UC DavisOnline registration begins Nov. 4 for the UC Davis Mini Medical School, a series of Saturday classes ideally geared for foresighted middle-agers and novice seniors

Roseville California Crime Brief (10.29.14) Crime brief update report for Roseville, California October 29, 2014.

Halloween Safety TipsCostumes, jack-'o-lanterns, haunted house and scary ghost stories mark this time of year as all kids of all ages enjoy the spirit of Halloween

Memorial for Slain Officer to be Held in RosevilleThe memorial service for Detective Michael Davis, who was killed in the line of duty will be held Tuesday, November 4, 2014, at 10:00 a.m. at Adventure Christian Church

2,400 Volunteers Turn Out in Rocklin for Annual EventMore than 2,400 volunteers packed 520,992 meals for malnourished children around the world at a three-day event at William Jessup University in Rocklin.

Free Tax Seminar in Roseville for Small BusinessesBoard of Equalization Member George Runner is sponsoring a free tax seminar in Roseville for small businesses

Sinking Gas Prices Won't Last The U.S. average price of gasoline ($3.03/gal) continues its slide to levels last seen in December 2010... and today, more than one-half of the nation's gas stations offer regular

Dutch Bros. to Raise Funds for Fallen Officers' Families Dutch Bros. Coffee owners in the Sacramento area are raising funds to support the families of Sacramento Sheriff Deputy Danny Oliver and Placer County Sheriff's Detective Michael David Davis Jr.

Gas Prices Hovering Around $3 GallonRoseville, CA -Average retail gasoline prices continue to plummet now hovering just around $3 a gallon in many locations.


more news