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Foreclosure: The Stop California Home Loss Blog

Are you at risk for foreclosure in the state of California? Proper-t-Solutions' presents Foreclosure: The Stop California Home Loss Blog. This blog is the homeowner's guide to determining your options when at risk for foreclosure. Read our articles, leave your comments and let's beat foreclosure and stop California home loss.


Strategic Default Report by CBS-60 Minutes

Strategic Default is becoming a more common occurrence....and why not?  It makes sense financially.  The only caveat is that the money saved is traded-off against a temporary blow to your credit rating.  The best way to get around this is to work with a short sale expert who can help you minimize any negative impacts and help ensure that you meet your goals.

Buybacks help reduce debt in Boston: We're here to help with Short Sales in Los Angeles

Is anyone out there still confused about your options to reduce your debt?

What if an organization were to buy your home from the bank and sell it back to you in Los Angeles?


Well maybe one exists!  Boston Community Capital (BCC) is one such organization that negotiates with the bank in order to help you reduce your debt.

BCC negotiated and bought Alma's home from the bank.  They then sold it back to Alma for $197,000.  Reducing her original $324,000 mortgage by 39%.  But in cities like Lynn, housing values have plummeted by as much as 72%.  A condo owner...reduced his mortgage from $186,000 to $52,000.

BCC says they help the housing market recover by stabilizing the market.  Many homes are flipped upside down and more is owed than what the property is worth.  BCC loans money out to those who may not have received any financial help, especially from judicial channels.


To partner with a Los Angeles, California, Short Sale Expert, contact us at Proper-T Solutions.  We're here to help reduce your mortgage and avoid foreclosure!  Let us help you understand how to best approach your goal of dumping your debt and/or keeping your home.


The Banks are Profiting Handsomely

The banks are profiting handsomely from the short sale losses.  Maybe that's why it is so difficult to get a California loan modification approval.  See the video, below.  It is shocking!!!


Prevent Foreclosure: Take the emotion out of your decision making

Do you want a nice house?

If you notice, I didn't ask if you want to keep your current property. Often it is easier (more practical and economical) to sell the current property and purchase a different one at a lower price. In this economy, you can probably get the same quality or better because prices have dropped a lot.

OK, OK, now I will ask the question…..

Do you want to keep your current property?

Obviously, the decision of whether to keep your current property or not has immediate importance. When you examine your circumstances and the possible solutions, it is recommended you consider this solution in conjunction with your alternatives. If available solutions allow you to afford your current property, then great, you just hit a home run.  However, if the cost requires you get a second job or you need to scrimp and save everywhere else in your life, then go for it IF that scenario is best for you and your family.

However, if keeping your current property means being forced onto a diet of Top Ramen Noodles or instant macaroni and cheese; if it means you won't be able to afford vacations, auto repairs or clothes for the family, maybe you should take a closer look at other alternatives.

“I spoke with one gentleman who wanted to keep his home of 2 years that was worth less than 70% of what he owed the bank. To make matters worse, his job changed and he had a 60-mile commute (one-way) through urban traffic to his new job. The family had become very “attached” to the house because it was new and they spent a lot of time and money customizing it.”

What do you think he should do in this situation? 

Clearly, he would be better off financially if he sold the property through a short sale. But, should he base his decision on his finances or on his emotions?  What would you do?  Would you keep it or sell it?

Loan Mods, Why short sale may be a better option for you

Do you have your copy?


3 Things you must consider before taking a mortgage loan (By Samantha Taylor)

Everyone dreams of buying their own homes, probably so do you. However, if you lack the financial resources to purchase it, then mortgage loans can help you. Mortgage or home loan is a loan that you may take to pay for your house and the land that it is on. If you do not make the payments towards the mortgage, then you may lose your house. You can use a mortgage calculator to determine whether or not, you will be able to afford a particular mortgage. Thus; mortgage becomes a very important part of buying your home.
You must consider the following factors before buying a mortgage.
1. Principal: The principal is the amount that you are borrowing. This amount is not equal to the price of your house. The principal is the price of your house after the down payment that you make has been deducted. When you go around from bank to bank, they will tell you how much you can get, based on your income and credit score.
2. The type of mortgage: Mortgages are of two types-fixed interest rate and adjustable interest rate. In case of fixed interest rate you pay a fixed amount every month as long as you are paying for the loan. In case of adjustable interest rate mortgages there is an initial lower interest rate but the rates change with the changes in the market. The fixed interest rate mortgages have a lower risk involved but have a higher interest rate. On the other hand adjustable interest rate mortgages are market determined and there is always the risk of payments increasing.
3. Interest rate: This is the money that you pay to your lender, for using his money. The rate of interest adds to the principal amount to become the total amount you owe. The best way to find out the overall cost of the loan is to see its annual percentage rate. The annual percentage rate is the interest rate and the other costs related to the loan.
You should consider these but you should also remember that you can use a mortgage loan calculator to choose the mortgage loan that suits you best.