yellow pages news jobs events calendar movie times
Rocklin and Roseville Today Happy Labor Day :-)
   |   Current Temp: 70.0 F (21.1 C)

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 California Crime Brief (8.31.14)Roseville, CA - Roseville California crime brief update report for August 31, 2014.

Acura ILX: Luxury Vehicle, Reasonable PriceFor car shoppers looking for an upscale luxury sedan that doesn't arrive with a luxurious price tag, Acura debuted the ILX a year ago and its back for 2014 virtually unchanged

People with Autism Especially VulnerablePerhaps like you, recently I read of an incident in Okeechobee, Florida, in which an 18-year-old man was recorded on video beating, choking, kicking, and holding a knife to the throat of a 16-year-old boy with autism.

54 Year Old Roseville Woman Killed with Own VehicleRoseville- 54-year-old Bernadette Ann Richardson was killed when her SUV rolled backwards as she was retrieving a bicycle from her 1997 Ford Explorer.

Photos: Napa Earthquake DamageWe recently had the opportunity to tour Napa following the magnitude 6.0 earthquake. The downtown area of Napa which contains many older buildings was hit especially hard.

California Senate Passes New Gun Violence BillCalifornia's state today passed the "Gun Violence Restraining Order (AB 1014)," legislation that would allow family members or law enforcement to petition a court

Laura's Law Implementation in Placer CountyPlacer County became the sixth county in California Tuesday to implement Laura's Law - a state statute that authorizes court-ordered assisted outpatient treatment of residents with severe

$22 Million Animal Services Center in Auburn Moves ForwardThe Placer County Board of Supervisors awarded a design-build contract on Tuesday that paves the way for construction of a long-planned Animal Services Center in North Auburn that

Autism in Girls Study Launched in CaliforniaAutism is far more common in boys than girls - affecting 1 in 54 boys and 1 in 252 girls - but little is known about biological differences between boys and girls with autism.

Sierra Shoot Out Water Polo Tournament in RocklinThe Sierra Shoot Out Water Polo tournament is back for another year at Sierra College. The junior college has hosted this high school tournament for over 20 years

What is Slowing the California Housing Recovery?Realtor, Julie Jalone of MagnumOne Realty in Roseville, writes about why the California and Sacramento housing markets are not expanding as fast as expected. Find out what Julie thinks is contributing to a slower real estate market.

Circus Vargas in Roseville this September Roseville,CA -- Get ready for the ultimate entertainment extravaganza for all ages as the circus comes to Roseville.


more news